Since there has been a sharp increase in NFT users over the past year, it is essential to utilise a strong and secure wallet to store and exchange NFTs of all kinds.
NFT wallets are often bitcoin wallets that offer additional features in addition to storing and trading digital currency. Most crypto wallets can, in general, store NFTs in addition to their initial use cases of holding crypto assets. You can buy, trade, or hold both cryptocurrencies and NFTs using your wallet, which serves as a type of safe haven for all of your NFTs.
Let’s examine the most popular and dependable NFT wallets:
MetaMask is a cryptocurrency wallet created by ConsenSys that facilitates the trading and storing of digital assets on the blockchain network. Since 2020, it has evolved into a mobile wallet for both Android and iOS devices, going far beyond its original role as only a desktop browser plugin on web browsers.
It mainly houses a number of decentralised applications, or dApps, and keeps digital assets. Users may control their wallets and add an additional layer of security to their private keys by storing their wallet passwords and private keys in the extension that comes with the MetaMask mobile application. It can be used to hold ERC-20 and ERC-721 tokens created for the Ethereum blockchain.
ERC-20 tokens are fungible, meaning they can be traded for other tokens that have the same value.
There are more than 500,000 ERC-20 tokens, including, but not limited to, ETH, BNB, XRP, DOGE, and USDT. Non-fungible tokens (NFTs), also known as ERC-721 tokens, are unique digital assets that can always be identified by their particular distinctive qualities.
Even for someone who is unfamiliar with cryptocurrencies or blockchains, the MetaMask mobile wallet is simple to use and intuitive to browse. Simply moving your screen to the left or hitting the “NFTs” interface on the right-hand side will give you access to the NFT wallet.
The MetaMask mobile app includes a browser that allows access to market trends on crypto/blockchain-related topics without leaving the app, allowing users to stay current with market movements. Additionally, MetaMask users have access to a variety of dApps, DeFi, games,on the Ethereum blockchain.
A centralised digital wallet like Coinbase is an illustration. It can be used to store and trade digital assets, including fungible and non-fungible tokens. The app is user-friendly, however it is not decentralised. Because of the following, the Coinbase wallet is unique when it comes to the storing and exchange of NFTs:
- Simple transaction: Coinbase customers can transfer tokens to other users by using simply their username, in contrast to other wallets that demand a wallet address before you can do so.
- Fiat currencies are made available via Coinbase, making it simpler for new NFT users to start trading smoothly and right away.
- Coinbase keeps you up to date with its notifications for price alerts and other related transactions.
- Accessibility of wallets through dApps.
- Makes provision for the personal cloud that enables users to back up their seed phrase.
You can store and trade your assets on the exchange platform or on Coinbase’s decentralised wallet, despite the fact that it also functions as a separate wallet. All you need to do is swipe your mobile screen to the right, where it says “collectibles,” to access the NFT wallet on Coinbase wallet.
Another decentralised wallet that keeps digital assets and facilitates trading is the trust wallet. Trust wallets provide sending, receiving, buying, and swapping of assets. The Trust wallet is user-friendly, offers access to dApps, and does not keep any personal data about the user, in contrast to centralised wallets.
The Trust wallet merely makes users’ access to digital assets; it does not hold or control them. Instead, it facilitates the trading of digital assets. It acts more as a link between users and the assets they prefer. Additionally, it works with both iOS and Android mobile devices.
The Trust wallet is among the finest for storing NFTs due to its compatibility with a large number of blockchains. NFTs created on Polygon, Solana, Binance Smart Chain, and Ethereum can all be stored and traded using the Trust wallet. Simply sliding to the left or clicking on the “NFTs” inscription on the right-hand side, next to the “Tokens” inscription, will take you to the NFT wallet.
The Enjin ecosystem is a gaming platform with components that make it possible to create, trade, and profit from tokens on a blockchain. It is constructed on the Ethereum blockchain and uses the ERC-20 standard native token $ENJ as its ticker. The platform is used for a variety of gaming, NFT, and other dApp applications.
The Enjin platform, Wallet, Marketplace, and other tools that help game production make up the ecosystem, which was created specifically to facilitate game development. The wonderful Enjin wallet, which may be used to store NFTs, is only compatible with mobile devices; it does not support desktop or PC PCs.
Being a decentralised wallet, it is user-friendly and highly secure; users may store and exchange in-game NFTs and other collectibles with it.It can also be used to mint NFTs, and as such, users can send NFTs via QR codes.
The first multi-chain wallet that supports more than 125 blockchain ecosystems and numerous coins is the Coinomi wallet. The wallet, which was established in 2014, is a non-custodial wallet that works with both desktop computers and mobile devices and has never been compromised.
All supported assets can be instantly exchanged using the wallet’s built-in exchanges. It includes a dApp browser and is web 3.0 compatible.
A decent and appropriate wallet for NFTs should allow easy navigation between digital assets and be able to store all assets in a single wallet, in addition to security, which is vital to all wallets. Different blockchains require various NFT wallets, and some marketplaces are also particular about the NFT wallets they support.
It is sufficient to take into account wallets that are compatible with a variety of blockchains and marketplaces when choosing a wallet. Currently, MetaMask is the most popular NFT wallet across marketplaces, while Coinomi is the most extensively supported NFT wallet across blockchains.