If you own crypto and are anxious about the safety of your currency to keep it secure, do not worry because you have come to the right place.
We will guide you to safe and reliable cryptocurrency wallets for you and Cardano ADA currency on the app store. As we all are aware of the fact, cryptocurrency is a digital asset that has been designed to work as a medium of exchange and does not exist in physical form. In simple terms, you can describe it as digital or virtual money, which serves the purposes of ordinary money, such as dollars, pounds, euros, rupees, etc. However, it has no physical counterparts or banknotes you can carry around and only exists in electronic form. One of many types of cryptocurrency is Cardano ADA, a revolutionary blockchain technology to establish a brand-new decentralized economy based on proof-of-stake blockchain.
If you are considering investing in cryptocurrencies like Cardano ADA, you should also worry about its safety and security. Well, crypto coins are placed and stored in crypto wallets, but it is challenging for an inexperienced individual to find a reliable cryptocurrency wallet online.
How can you choose the best cryptocurrency wallet?
Choosing a cryptocurrency wallet is a very responsible task, as even a little mistake can cost you all your savings. That is why you must consider several points before choosing the best crypto wallet for you.
- Security: Choosing a wallet that provides 2-factor authentication and has not been hacked before is preferred.
- Features: It should be multifeatured, including multi-signature, customer support, and backup.
- Reputation: Knowing the company’s reputation behind the wallet is essential, which you can know by looking at their users’ feedback.
- Ease of use: The wallet should be intuitive and easy to use
Considering the points mentioned above, we provide you with a list of the best cryptocurrency wallets for Cardano ADA.
1. Ledger Nano S
Features:
- Upper hand design
- Affordable price
- More secure
- Can support multiple coins
- Allows crypto transfers
- Easy to use
Manufactured in France, Ledger Nano S has produced the first and only certified hardware cryptocurrency wallet, created for token owners for whom the security of their possessing assets is critical. It is one of the most secure ways of storing your cryptocurrency. The company has produced four wallets which are being sold in 165 countries. The hardware wallet can be accessed from PC and mobile devices since the apps are free to download and install.
The company has also added the latest security features, which are updated continuously over time, and it is also possible to check real-time balances and multiple counter values. The wallet owner can easily manage the account, look through the full transaction history, and add new or existing accounts.
This wallet’s most advanced and latest model is a small and compact device with a metal casing. When you plug the wallet into your computer for the first time, you will set up a PIN and get a long 24-word phrase, which serves as a purpose of private key to it. Then you can install the software, which will be ready for use. It will take only a couple of minutes to get used to it because of the simplicity of the interface. The wallet operates with the help of two buttons, which are used for typing your PIN, inputting recovery passwords, checking your current balance, and confirming your transactions.
2. Daedalus Wallet
Features:
- Supports Windows, macOS, and Linux
- Secure
- User-friendly interface
- Supports multiple coins
- Safe and reliable
Daedalus is the name of the official cryptocurrency wallet made for ADA. An open-source software download for Windows and macOS, Daedalus provides ADA storage and a host of other features for crypto enthusiasts.
Daedalus can run the Cardano protocol and can participate directly in the network. Being a hierarchical deterministic wallet (HD), it allows you to manage any number of wallets and organize your funds; however you like.
The setup process is comparatively straightforward, and sending and receiving ADA and viewing your transaction history is easy. When you use Daedalus, you can retain control of your keys, which are protected by advanced cryptography. You can also attach spending passwords and seeds to your accounts to get an extra layer of security.
The development team of the wallet also claims that future releases will allow third-party developers to make their applications for increased functionality, such as the ability to set up recurring payments or exchange one cryptocurrency for another.
3. Yoroi Wallet
Features:
- Quick and easy management of ADA
- HD wallet
- Developed by Emurgo making it safe
- Offers Chrome extension
- Supports multiple coins
- Easy to use
Developers made Yoroi as a light wallet for Cardano. Emurgo, one of the three organizations behind the Cardano project, developed it. The Yoroi Wallet was first released in October 2018. As a result, early adopters will need to be wary of the teething issues that commonly affect new wallet releases.
The Chrome extension feature offers a simple, fast, and secure way to manage your ADA holdings. As it is a light wallet, you do not need to download the entire blockchain on your computer, so you can easily start sending and receiving transactions immediately.
A free, open-source wallet stores your private key on your personal computer. The key is encrypted with your wallet password, and the team behind Yoroi says private keys are never shared with the servers or third-party providers. Your encrypted private key is held safe with Yoroi, but, as stated above, you must be extra careful about creating a safe and secure environment where no one can snoop on your password when you enter it.
4. Infinito Wallet:
Features:
- Mobile Wallet
- Multilingual interface
- Touch ID support
- Convenient
- Easy to use
- Stores a wide range of cryptocurrencies
- Secure
Infinito Wallet is a free universal mobile wallet for Android and iOS devices. With the help of Infinito Wallet, you can send, receive, and store a wide range of currencies, including BTC, ETH, and Bitcoin. As of September 2018, you can now use Infinito to hold ADA too.
Like any other mobile app, Infinito makes using and accessing your cryptocurrency easy and convenient. The user interface is simple, and the wallet offers Touch ID support for extra security. Infinito stores all your private keys on your device. The wallet fully encrypts the passphrase and private keys. Other features include a multilingual interface (which can support up to 12 different languages) and the ability to send transaction memos.
However, it is worth mentioning that Infinito Wallet has only recently added support for ADA, so you may have to face some minor bugs and glitches.
5. Guarda Wallet:
Features:
- Supports a large number of cryptocurrencies
- Safe and reliable
- Easy to use
- User-friendly interface
Guarda Wallet is a non-custodial and open-source. This means you can hold your private keys and not just need to take Guarda’s word for it. You can check out the Guarda Wallet code to ensure everything is correct.
Guarda Wallet claims that the company, which makes the user the only person able to manage their cryptocurrency, is storing no personal or cryptographic information. A Guarda Wallet can be termed as much safer than a linked cryptocurrency hardware wallet. With it, someone has to have the hardware wallet physically in their hand to take out any funds from the wallet.
6. Atomic Wallet
Features:
- Great mobile app
- Built-in cryptocurrency exchange
- Simple to use
- Safe and reliable
- Secure
Atomic is a simple multi-cryptocurrency wallet. You can download and install it on your PC, Tablet, or Smartphone. The authors launched the wallet several years ago. Atomic partnered with some of the largest companies in the space. This further boosts the wallet’s credibility and convinces even the greatest skeptics that the wallet is safe. Furthermore, a great additional feature Atomic offers its users is a built-in exchange. With the coin swap functionality, users can now easily exchange their coins directly through the wallet without risking sending them to any exchange.
Conclusion
You should make use of the security features that are provided by your wallet and make sure to take advantage of every option available to protect your cryptocurrency and make sure to regularly back up your wallet so that it is up to date and you can easily access your crypto holdings in case anything goes wrong. Also, watch out for scam wallets, as there have been reports about scam Cardano wallets. Make sure you only use a wallet from a reliable and trusted provider.