10 Best NFT Wallets: What to Look For in an NFT Wallet?

Source : cryptodaily.io

NFT wallets are a must-have for anyone who wants a slice of the digital asset pie. But where do you even begin when looking for an NFT wallet? How do you identify a worthwhile wallet from the many options on the market? Here’s an article on the ten best NFT wallets to help you out. 

Importance of an NFT Wallet

There are many reasons why avid NFT collectors should have NFT wallets. These wallets are the most important links between digital assets and their owners, providing secure ways to access and trade NFTs. Let’s analyze the leading reasons why NFT wallets are important.

NFT Wallets Secure Private Keys

Contrary to popular belief, NFT wallets do not directly store NFTs. Instead, they store the private keys associated with a given crypto account. This crypto account is what collectors use to purchase the given NFTs. 

NFT wallets store the private keys that allow users to access NFTs on the blockchain and authorize their transactions. Without a wallet, getting access to these NFTs on the blockchain would be impossible.

NFT Wallets Link Collectors to NFT Marketplaces

The other importance of an NFT wallet is that it helps users to access marketplaces. Marketplaces are digital stores where people trade NFTs. To purchase or sell an NFT, one needs access to a marketplace, which needs a wallet address to identify where to send or retrieve the NFT being traded. 

NFT Wallets Help Fund NFT Transactions

To buy an NFT or facilitate a transaction in a marketplace, NFT traders need to pay some money for purchase costs or gas fees. NFT wallets are crucial at this point because they store the funds needed for these transactions.

Our Ultimate Top 10 Best NFT Wallets

There are multiple NFT wallets, but some are superior to others. Depending on what you want to do with your NFTs, you may like one wallet better than the others. 

So, here are ten of the best NFT wallets based on key features. 

10. Trust Wallet: Best NFT Wallet for Beginners

If you are new to NFTs, Trust Wallet is the NFT wallet for you. This is a multi-currency mobile app wallet with one of the most intuitive user interfaces. The way Trust Wallet is made makes it easy for people who are new to NFTs to find their way around the digital asset space. 

One of Trust Wallet’s best features is the NFT section description. On the Trust Wallet app, there’s a section that shows your NFTs and gives you a description of each asset, indicating why it is unique. This feature is extremely handy for individuals who are trying to understand NFTs.

Trust Wallet also has a decentralized application(dApp) browser to help users easily find the NFT marketplace and an in-built crypto exchange to get the different cryptocurrencies they need to purchase particular NFTs.

Key Features.

  • Trust Wallet can access Ethereum and Binance Smart Chain-based NFTs.
  • The wallet supports NFT marketplaces like PancakeSwap, OpenSea and UniSwap.
  • The Trust Wallet app is free, but fees may apply for certain transactions.

Pros

  • Trust Wallet is one of the best NFT wallet apps, with a simple user interface for beginners.
  • It has a dedicated section for NFTs with a description for each.
  • The wallet supports multiple NFTs and cryptocurrencies.

Cons

  • It is only accessible on mobile-based browsers.
  • Its transaction fees are relatively more expensive.

9. Alpha Wallet: Best NFT Wallet for Developers

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Alpha Wallet is one of the best NFT wallets for more tech-savvy NFT traders. This open-source wallet is designed to help users make NFTs through tokenization. At the same time, users can trade or store these tokens and run them natively on Alpha Wallet’s mobile app on Android or iOS devices.

However, what stands out most about Alpha Wallet is its developmental flexibility. Because the code for this wallet is open source, developers can keep working to make it better. The result is an application that is better suited to users’ needs. Users can change the speed of their transactions, which cuts down on the amount of gas they have to pay.

Key Features

  • Alpha Wallet users can mint NFTs, trade and store them on the app.
  • Alpha Wallet is a fully open-source wallet.
  • It supports Ethereum-based NFTs.
  • Alpha Wallet has access to NFT markets like Opensea.

Pros

  • The wallet allows developers to enhance its features because it is open-source.
  • Alpha Wallet has a transaction speed-regulating feature, meaning users can regulate their gas fees
  • The wallet uses secure enclave technology, making it very safe.

Cons

  • Alpha Wallet is only accessible as a mobile app.
  • The wallet only supports Ethereum-based NFTs, which makes it a very limiting wallet.

8. Enjin: Best Multi-Function NFT Wallet

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Finding an NFT wallet that runs multiple features seamlessly is not easy unless you’re using Enjin. With this wallet, users can create NFTs, find a marketplace, and trade them, all within the wallet without needing any third-party applications. To achieve this, Enjin has an NFT creation interface and an in-built marketplace that runs on the platform’s native token, ENJ.

However, Enjin allows users to access dApps and NFTs created by other networks. Most crypto gamers like this wallet because it makes it easy for them to get in-game NFTs that they can collect and trade on Enjin. 

Key Features

  • Enjin supports the creation, trading and collection of NFTs.
  • It gives users access to all Ethereum-based NFTs.
  • Enjin has an in-built marketplace running on the wallet’s native token, ENJ.
  • Transactions on Enjin can cost about 0.1 ENJ, or $4.5, excluding gas fees.

Pros

  • The wallet has multiple features embedded in it that eliminate the need for some third-party applications.
  • Enjin allows users to create their own NFTs.
  • It uses a secure biometric or auto lock security feature guaranteeing better security.
  • Enjin is one of the very few NFT wallets with real-time customer support.

Cons

  • It is only accessible for Ethereum wallets
  • Enjin is not open-source

7. Crypto.Com: Best NFT Wallet For Popular NFTs

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The next wallet on this list earns its position because of the popularity of some of the NFTs it has hosted. When it comes to NFTs, Crypto.Com has become popular for having exclusive access to some of the most popular NFT brands, like the F1 Collectibles from Aston Martin’s Cognizant F1 team. The platform also frequently unveils celebrity-branded NFTs.

For Crypto.Com users, this wallet is a one-stop shop for all things impressive NFTs. With the wallet, you can get valuable NFTs and sell them in the wallet’s built-in marketplace for a profit. Users can also trade NFTs for cash at Crypto.Com’s NFT marketplace, which makes the wallet even more popular.

Key Features

  • Crpto.Com allows users to collect and trade NFTs.
  • The wallet supports NFTs from at least 20 blockchains, including Ethereum, Polygon, Cardano, Solana, Bitcoin, Crypto.Com Chain, and Avalanche C-chain.
  • Crytpto.Com supports multiple fiat currencies, including USD and Euro.

Pros

  • The wallet allows the swapping of NFTs for fiat.
  • Crypto.Com has exclusive access to some top-ranking NFTs.
  • The wallet has a well-organized and easy-to-navigate in-built marketplace.

Cons

  • It does not support NFTs from Binance Smart Chain.
  • Crypto.Com has a limited number of NFTs because it focuses mostly on high-ranking assets.

6. ZenGo: Best NFT Hot Wallet For Security

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ZenGo is one of the most secure options available for NFT wallets. The first feature that makes ZenGo highly secure is that it is non-custodial. This means users are the only people with access to their private keys. Therefore, no third parties can have unauthorized access to accounts. Aside from that, ZenGo has a slew of other security features, such as 3-Factor Authentication (3FA), which is a step up from the 2-Factor Authentication (2FA) found in most wallets. 

This wallet also uses Multi-Party Computation(MPC). An MPC is a complicated cryptographic method that stores parts of a private key on different devices and lets you access them separately without ever letting the other devices in the system know what it is. These security features make ZenGo one of the most secure NFT hot wallets.

Key Features

  • ZenGo is a non-custodial wallet.
  • The wallet has multi-chain features, supporting blockchains like Bitcoin, Tezos, Ethereum and Terra.
  • ZenGo has impressive security features, including 3-Factor Authentication and MPC.
  • Transactions on ZenGo are free, except buying NFTs using a wire transfer costs 1.99% of the NFTs, and buying with a credit or debit card costs 5.99%.

Pros

  • The wallet is highly secure.
  • ZenGo offers more privacy and anonymity because of its non-custodial nature.

Cons

  • The wallet can be relatively expensive for bulky transactions paid using wire transfers or credit cards.

5. Phantom: Best Wallet for Solana NFTs

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Sonala-based wallet Phantom is another amazing NFT wallet. This wallet gives the best user experience because its graphical user interface is simple but includes everything. With Phantom, NFT enthusiasts, from beginners to experts, can store and trade NFTs without a hassle.

Phantom’s mobile app’s simplicity and non-custodial nature make it a leading Solana NFT wallet. Also, its compatibility with the Ledger hardware wallet increases its appeal to users.

Key Features

  • Phantom supports only Solana-based NFTs.
  • It is an easy-to-use non-custodial wallet.
  • The wallet charges a flat rate fee of 0.85% for every transaction.

Pros 

The wallet supports a hardware wallet for cold storage of digital assets.

Phantom has no fluctuating transaction fees, making it highly reliable.

The wallet comes as a simple-to-use mobile app that is friendly for less experienced NFT traders.

Cons

The fact that Phantom is accessible only as an app makes it limiting

The wallet has fewer NFT listings because it only supports tokens from the Solana blockchain.

4. Ledger Nano X: Best NFT Cold Wallet

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NFT investors looking for cold wallets to store their priced blockchain assets should look no further than the Ledger Nano X. This hardware wallet is considered the most secure offline wallet for storing NFTs. 

The Ledger Nano X works by connecting a physical Ledger Nano X device to a computer or smartphone using the Ledger Live app. Even though this requires connecting to the internet, Ledger is still considered an offline wallet because it stores private keys offline and only needs to connect to the internet to confirm a transaction.

Key Features

  • The wallet stores NFTs offline
  • It supports NFTs across multiple blockchains, including Bitcoin, Tron, Tezo, Polkadot, and Ethereum
  • Ledger Nano X costs about $153.

Pros

  • It allows users to store and trade different NFTs
  • Ledger Nano X is easy to use and compatible with Windows, Mac and Linux operating systems.
  • As a cold wallet, Ledger Nano X has advanced security.

Cons

  • The cost of purchasing a ledger wallet is relatively expensive.
  • The Ledger Nano X wallet relies on third-party platforms to facilitate NFT trades.

3. MetaMask: Best Ethereum Wallet for NFTs

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MetaMask is among the most popular NFT wallets. The wallet comes as a browser extension or mobile app for iOS and Android gadgets. Despite being an Ethereum-only wallet, MetaMask is still popular because it easily connects to other dApps and gives users a simple way to collect and trade NFTs.

Key Features

  • MetaMask comes as a browser extension and also as a mobile wallet.
  • It only supports Ethereum-based assets
  • The MetaMask wallet is free to acquire but charges gas fees for transactions

Pros

  • MetaMask is user-friendly and offers guides on how to exchange NFTs.
  • The wallet is easily accessible across multiple platforms.
  • It connects to many other dApps and wallets to make it easier for users to access and store NFTs.

Cons

  • MetaMask has slow processing speeds, which increase gas fees.
  • Users can only access Ethereum-based NFTs.

2. Binance Chain Wallet: Best Custodial NFT Wallet

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Binance Chain wallet ranks as one of the most popular NFT wallets. Even though this wallet is a custodial wallet and users don’t have full control over their private keys, it is very popular because it is easy to set up and use.

When registering for a Binance wallet, all users need is a Gmail account, and they are good to go. Once users log in, the wallet grants them a chance to explore the Binance Smart Chain and Ethereum-hosted NFTs. It also provides access to the Binance NFT marketplace, where collectors can trade different digital assets. 

Key Features

  • Binance Chain wallet is a web extension on leading web browsers like Chrome, Brave and Firefox. 
  • The wallet has an in-built NFT marketplace.
  • Binance Chain wallet supports Ethereum and Binance Chain-based NFTs.

Pros

  • Binance Chain wallet is easy to set up and use
  • A mobile app for increased convenience. 

1. Coinbase

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What puts Coinbase at the top of the list of the best NFT wallets is the level of detail the platform devotes to its NFT section. First, Coinbase Wallet gives users a guide on how to navigate the NFT space. Then there’s the NFT dashboard. Here, collectors can view NFTs in categories based on trending or recent purchases. 

NFT collectors on Coinbase Wallet can also opt to follow other collectors, and their NFT feed will show what other collectors are trading. Besides this, they can upvote or downvote an NFT, and the wallet will tailor its feed based on such recommendations. Ultimately, users can trade NFTs using only usernames instead of wallet addresses, a feature that makes transactions feel more personal.

Features

  • Coinbase Wallet is a non-custodial wallet accessible as a browser extension or mobile app.
  • The wallet supports Ethereum-related assets.
  • Coinbase Wallet has an in-built NFT marketplace.
  • The wallet is free to access, but transaction charges may apply.

Pros

  • Coinbase Wallet has a customizable NFT feed that displays NFTs based on user preferences.
  • It is more personalized because it allows users to transfer NFTs using usernames instead of wallet addresses.
  • The wallet provides guides to help users navigate the NFT marketplace.

Cons

  • Coinbase Wallet only supports NFTs on the Ethereum blockchain.
  • Trading using usernames instead of wallet addresses raises security concerns.

What to Look For in an NFT Wallet

A good NFT wallet has certain essential features. Let’s explore some of the most important indicators of an NFT wallet worth using. 

  • Blockchain Compatibility: The first trait to analyze for an NFT wallet is whether it is compatible with the blockchain supporting the NFT you want to purchase. 
  • Wallet Accessibility: This refers to the range of devices the wallet can access and how easy it is to set it up on these devices. The best NFT wallets are accessible both as browser extensions and mobile applications.
  • Ease of Use: NFT wallets should be not only accessible but also easy to navigate. A user-friendly interface and navigation instructions all contribute to an easy-to-use wallet. 
  • Security: NFT wallets need to be secure enough to protect your digital assets from hackers. Features such as 2 and 3-Factor authentication, biometric signatures and auto-lock features are indicators of a well-protected wallet. 

FAQ

Which Wallet Is the Best for NFT?

The best NFT wallet will depend on your needs as an NFT collector. However, you can check out Coinbase Wallet, Binance Chain Wallet, MetaMask, Ledger Nano X, Phantom, ZenGo, Crypto.Com, Alpha Wallet, Enjin, or Trust Wallet since they have some of the most impressive features.

How Much Do I Pay For an NFT Wallet?

Most hot NFT wallets are free to acquire. They only charge gas fees or transaction fees based on your transactions, and these prices differ from one wallet to another. Cold wallets, however, will cost you at purchase time. A hardware wallet like the Ledger Nano X costs about $153.

Which Wallet Is Best for OpenSea?

Multiple wallets are compatible with OpenSea. However, wallets like MetaMask, Trust Wallet, and Alpha Wallet are the best.