One of the top 10 cryptocurrencies as per market cap is Cardano(ADA). Therefore having the best Cardano wallet that can securely and safely hold it is very important for anyone who has invested in this crypto.
Our list includes the top Cardano wallets for managing ADA, NFTs also being a bridge for using any Cardano DApps like a DEXs, and more in 2022.
Our list will cover only wallets that are hardware Cardano wallet, desktop and mobile-based. If you have any suggestions then do leave your comment.
We’ll also go through the fundamental characteristics of each wallet so you can form your own opinion. Before going through the list let’s first understand what is Cardano?
What is Cardano?
I have written in brief about Cardano(ADA) in this article What is Cardano? You can read it to understand the concept and also its pros and cons. If you have read it then let’s go through the list of best Cardano wallets.
You might also have a question in your mind whether the list also includes a list of Cardano wallets for staking? Our answer is yes.
Best Cardano wallets
On our list of 5 best Cardano wallets(ADA), we will be focusing first on hardware wallets then we will move to web wallet/browser extension and in the end, we will cover desktop wallet.
You might be familiar with Ledger Wallet and if you are not, it is a hardware wallet that comes in two variants. I personally hold the Ledger Nano X and I would always recommend it to anyone who wants a wallet for HODL (hold for a long term).
The wallet is not free to use you need to purchase it from the Ledger store. The price of the wallets is in USD but its price differs from country to country depending on the local fiat(local currency) value compared with USD.
Ledger is one of the most recommended wallets in the crypto sphere because it is a cold wallet. You can read in detail about it in this article 10 reasons why Ledger crypto wallet is better than others
Hence it is the first wallet on our list of best Cardano wallets.
Trezor one is one of the most extensively used hardware wallets. The wallet has a clean design that makes it easy to use. This wallet can be used to hold virtually all types of digital assets that are presently present in the cryptocurrency market.
Since it is a hardware wallet as such you can HODL your crypto assets offline. It is a non-custodial wallet wherein you are the owner of any wallet’s private key.
You need to have an interface to transact your Cardano(ADA) while using this wallet such as a PC. This is the reason why it is stated as one of the most secure and safe wallets.
Another important feature about Tezos wallet is that you can stake your Cardano(ADA) coins to earn rewards. Setting up the wallet is simple and quick as you can get it connected through a USB cable.
The second wallet on our list of best Cardano wallets(ADA) is Yoroi Wallet. Emurgo, one of the key firms driving the Cardano project, created this open-source wallet.
It was first released in 2018. Initially realised as a web-based wallet with the browser extension, later on, they released the mobile version.
Chrome, Edge and Firefox are the browsers that can be used to install this extension. Both Android and iOS versions are available for mobile.
With the mobile app, you can check your balance, purchase and send NFTs, and do anything you do on the web wallet.
Users can manage all of their Cardano holdings in a very easy, safe, and quick environment provided by the wallet. Staking of Cardano coins can also be done using this wallet.
The key benefit of keeping this wallet light is that it eliminates the need for users to download the complete Blockchain to their PC.
Nami is a non-custodial, open-source and free to use browser-based wallet for interacting with the Cardano blockchain.
It can be used to transfer and store numerous assets, delegate, mint tokens, and employ multi-sigs, among other things.
The best part about this wallet is that it can be injected into the browser environment and connected to any website in order to interact with dApps.
Using only one seed phrase you can create multiple accounts and each account is its own wallet. Every wallet is independent of others.
Accounts do not show up on the blockchain ensuring the highest level of security, privacy and anonymity. You can delegate to various staking pools with each account.
At the moment it only supports three browsers they are Chrome, Brave and Edge.
Daedalus is a dedicated Cardano wallet(ADA) desktop wallet that is open source and a full node wallet. In simple words, it downloads a full copy of the Cardano blockchain.
It also independently validates every transaction from the copied blockchain which makes it secure and safe. As an HD wallet, you can have multiple numbers of wallets in the same dashboard.
At the moment it only supports 3 desktop OS and they are Windows, macOS, and Linux. I am not sure when they will upgrade it to other OS like Ubuntu, Debian and Fedora.
If they do then you will read about them in this article. Therefore please do follow us and bookmark this link – linktr.ee
You do can stake your Cardano coin(ADA) using it but you need to find the right pool. This where you have to do your own research.
Why you should invest in Cardano(ADA)?
There are a few reasons Why you should invest in Cardano.
- Defi on Cardano blockchain is slowly getting hyped because the transaction fee is far less than other blockchains and it does not have a scalability issue.
- Many NFT based projects are already live and they are growing.
- Staking it will enable passive income.
- The price is still less than $1 and it would rise in the long term.
Where to buy Cardano(ADA)?
There are several exchanges where it is listed and is being traded but we recommend buying it from Binance exchange or Kucoin exchange using a debit/credit card or P2P service. If you are in India then you can buy Cardano(ADA) on the WazirX exchange.
That’s everything, for now. This article will get updated if there is any new feature added to the list of best Cardano wallets or if there is a better one than those here in the market.
Choosing a Cardano wallet from the above list does not mean your wallet cannot get compromised. We recommend using a hardware wallet if you are an individual who wants to invest big and hold for the long term.
It is you as a user who is responsible for the security and safety of your wallet in the first place. Always remember that revealing your pin or your private key can lead to your wallet getting compromised.
Always remember if you do not keep a backup of your wallet you will never be able to access it in the future in case a situation like the one listed below arises.
- If your mobile device gets stolen.
- If your desktop device gets corrupted.
- If you lose your mobile device.
- If your device’s OS gets corrupted.
There may be other situations that you might encounter apart from the above listed therefore it is always a good practice to keep a backup of your Card.