RANKING-WALLETS

How do we evaluate the best NFT wallets?

There is a limited number of spots on our ranking. When we want to rank a project, we need to do a proper evaluation. This process ensures that the project, in this case, the NFT wallet, is quality enough.

During our research of NFT wallets, we created criteria by which we rank these projects. This is our criteria:

1. Type – Is it a software or hardware wallet? Hardware wallets like Ledger or Trezor have the highest security available. When you use a hardware wallet, your private keys will never leave the wallet, only signed transactions. However, software wallets are easier to use and their security is still high. We prefer types of wallets that are supported by NFT marketplaces, which is software at this moment. That being said, it’s still possible to pair a hardware wallet with a software wallet.
2. Platform – We prefer projects that are available on multiple platforms. This include mobile applications, browser addons, desktop applications and hardware. The more the better.
3. Supported tokens – How many different tokens are supported? Is the wallet specific to one blockchain, or it can hold different blockchain tokens? Just as the platform, the more tokens that are supported the better. It’s important that the wallet support NFT standards such as ERC-721.
4. Security – How secure is the wallet? Can you export the private keys? We prefer wallets where only you have the private keys.
5. Ease of use – Can you navigate through the app easily? Is it made for beginners or advance users? We preffer those wallets that are intuitive.
6. Supported on NFT marketplaces – Can you use the wallet directly on NFT marketplaces or you need to find a workaround? We prefer direct integration.
7. Free – How much does it cost? Obviously, we prefer if the wallet is free.

What are NFT wallets?

Before you can get started with NFT, you’ll need to get a digital wallet. This wallet differs from your usual cryptocurrency wallet since it can hold NFTs.

NFT wallets are used to hold your assets. When you create a wallet for the first time, you’ll receive a private key. You should write the key down, and don’t share it with anyone.

If you ever lose access to your PC/Mobile phone, you’ll be able to restore your wallet by importing those keys.

Not every public blockchain supports NFTs right now, but let’s focus on those that do.

NFT Wallet Standards

Only wallets that support NFT standards can hold your assets. Let’s take a look at the list of most popular NFT standards:

• Ethereum Blockchain – ERC-1155, ERC-721, ERC-998
• Tezos – FA2
• Flow – Flow
• Cardano – CIP 721
• Solana – SPL
• Klay –KIP 17
• EOS/WAX – Simple Assets
• TRON – TRC-721
• Binance Smart Chain – BEP1155, BEP721

There are probably more blockchains that support NFTs, but right now these are the most popular ones. Each blockchain has its pros and cons, but what you need to know right now is that the wallet you choose must fit the standard of that blockchain.

The most popular blockchain that supports NFTs is Ethereum. If you want to purchase projects on that blockchain, you’ll need a wallet that supports ERC-1155, ERC-721, or ERC-998.

If you don’t know how to check that, the easiest way would be to search for this “Name of the wallet + name of the standard”. For example, if you want to check if Metamask supports ERC-721, you would search for “Metamask ERC-721”.

Please note that certain wallets support only some blockchains. For example, you can’t store XTZ in Metamask, so it’s not possible to hold XTZ NFTs on it either.

That being said, you should first check which tokens are supported on the wallet you have chosen, and then check if NFT standards from our list are supported.

How NFT wallets work?

First of all, you’ll need to register for a wallet. You can choose one listed in our best NFT wallets in the list above, or you can choose any on your own. The registration process may differ a bit between wallets, however, it’s mostly very similar.

We won’t dive into the details of the registration because we have already explained the process in the “How to create your own NFT” article. What you should know is that you’ll receive one key item when you register for a new wallet, and that’s your private key.

The private key is also known as “Backup phrase” or “Recovery Passphrase”. This private key is something you cannot afford to lose. You can think of it as if it was your credit card numbers.

Why? Because when someone has your private keys they can easily restore the wallet and get full access to it. You wouldn’t want all your NFTs stolen, would you?

The best way to keep it safe is to write it down on a piece of paper and hide it in a safe. Chances are, you don’t have a safe, so sticking it with some tape beneath your bed works fine in most cases too.

Other than the private keys, NFT wallets also have some sort of user interface. In most cases, you’ll see your wallet address, tokens balance, and the button to send & receive NFTs/tokens.

So, what’s the wallet address? It’s a public address that you can use to receive NFTs or other token payments. You can share that part freely, think of it as your e-mail address, just without spam.

Now that you got your wallet set up, you can use it to purchase and trade NFTs. Add funds to it, and you can start using it on NFT marketplaces.

How to add funds to your NFT wallets?

In order to buy NFTs, you’ll need tokens. The token choice depends on the blockchain that the NFT marketplace you have chosen operates on.

For example, if you are on the Ethereum NFT marketplace, you’ll need ETH to purchase NFTs. If you are wondering how to add funds to your NFT wallet, this is the usual process:

• Some wallets have built in exchanges. Some wallets allow you to directly buy tokens from them. You won’t have to mess around with third party exchanges and their fees. Instead, you’ll get tokens directly added to your wallet.
• Transfer funds from third party exchanges. If your wallet doesn’t have an integrated exchange, you’ll have to transfer them from a 3rd party exchange. The usual process is to purchase the cryptocurrency tokens there, and then withdraw it to your wallet. NOTE: Make sure you are sending on the right chain. Sending on the wrong chain can result in lost funds.
• Wait for the transaction verification. It might take a while for your transaction be verified, this time differs between blockchains. Usually it won’t take longer than couple of hours, and most chains will verify your transaction within minutes.
• Check your wallet. Once the payment has been verified, your funds will be available and visible in your wallet. Simply open up the wallet and check the balance of token that you have sent. If you have sent the funds to a good wallet address and on a good chain, you’ll have the funds ready for spending.
• Buy some NFTs. Now that you are ready, you might as well support the community and buy some cool NFTs.

The process of depositing funds is the same in most cases for the most popular wallets. Especially for the NFT wallets that we have included in the list above.

Can you buy NFTs with real money?

Yes and no. You cannot buy NFTs with real money directly, however, you can exchange your real money for cryptocurrency tokens and then buy NFTs. So, yes you can buy them, just not directly.

The majority of NFT wallets don’t have a built-in exchange that will let you purchase tokens with real money. However, there are many different cryptocurrency exchanges where you may buy tokens. Once you buy them, simply send them to your wallet, and then you’ll be able to buy NFTs.

One example of such cryptocurrency exchange is Bitmart.

Some companies such as Coinbase have both an NFT wallet and an exchange. You are not able to exchange fiat for tokens in the wallet, but you can do it on their exchange and then send it to the wallet.

How to choose best NFT wallets?

Choosing a wallet can be tricky. It all comes down to two things, are you mainly using it to collect/buy NFTs or you are a creator as well?

If you are just collecting, choosing the best NFT wallet will depend on what device are you mostly using when scrolling the marketplace. If you are constantly on your phone, mobile wallets might be a better solution for you.

Take a look at our ranking list to see what wallets have a mobile version. If you choose a wallet on your own, make sure it’s supported by the NFT marketplace where you plan to use it.

As we have previously said, some of these mobile wallets have a built-in preview of your owned NFT, so that’s a plus. That being said, you won’t have to log in to marketplaces all the time, you can take a look at your NFTs in your wallet instead.

If you want your NFTs to be as safe as possible, but still have them on your mobile phone, you can use a hardware wallet. You’ll have to pair it with a supported wallet such as MetaMask and you are good to go.

On the other hand, if you are a creator, you might be better with the desktop version. Why? Because you’ll most likely have to sign into marketplaces and upload something all the time.

It can be a bit tricky to upload stuff through your mobile phone. So, look for wallets that will allow you to work securely, but fast as well. The best way to find such wallets is to check the supported ones on marketplaces.

How safe are NFT wallets?

Perhaps the most important question is how safe is an NFT wallet. You don’t want to lose all of the NFTs that you have been working hard to get. That’s why it’s important to choose a good and secure wallet.

When we talk about wallet security, there are certain standards that NFT wallets must follow. All of the wallets included in our rankings list satisfy most of the standard practices. Some of these security standards are:

• Public security audit – Companies will allow other reputable auditor companies to validate the security standards in their poduct/company. These auditor companies are independent and they ensure the wallets will follow the most strict security standards.
• Public bounty program – When companies have a public bounty program, that’s a good indication that security is high on their priority list. Public bounty programs allow independent security experts to search for bugs and earn rewards in return. Such programs help to increase the security, while also rewarding the community.
• Strong password requirements – If you are able to set your password to something like “password123”, we got a problem. Such passwords are very weak. You might be thinking that nobody can hack you because they don’t have an access to your device. However, if they do get it through a virus or physical access, they’ll be able to crack your weak password.
• Customizable mnemonic length – Allow the users to customize the total number of words of the mnemonic phrase. In case you want to increase the security of your NFT wallet, choose more words such as 24.
• Open source – NFT Wallets that are open source tend to have higher security as well. Why? Because when something is open source, the community behind it will point towards all the bugs. Developers will fix the bugs faster and everything is transparent.

Desktop vs. Mobile vs. Hardware NFT wallets

Now, let’s compare the pros and cons of using Desktop, Mobile, and Hardware NFT wallets. It’s important to say that these are all good to hold your NFTs, however, depending on your habits and goals, some may be better than the others.

Desktop NFT wallet pros

One of the most important pros is how easy it is to use a desktop wallet. Let’s take MetaMask for example. Let’s say you want to use MetaMask on one of the NFT marketplaces such as OpenSea.

You just need to sign in to MetaMask with the password you set once, and then it will automatically sign you in OpenSea when you are on their website. This process is super simple and super fast.

Another advantage is the quick registration. Most of these wallets don’t require you to go through a slow registration process. Instead, you’ll receive your backup phrases, then you’ll set a password for the wallet and that’s it.

In most cases, desktop wallets support a wide variety of NFT standards and cryptocurrencies. The installation process is also super fast. Most of the desktop wallets are available through your browser, so you don’t have to download them either.

Desktop NFT wallet cons

You need to have your PC/Notebook with you to access it. This is not a problem if you are only working with NFTs when you are at home. However, it’s a problem when you are on the move.

Luckily, some of the NFT wallets such as MetaMask are available on multiple platforms. That allows you to access your wallet and NFTs from multiple different devices.

Other cons of using a desktop NFT wallet include viruses. PC/Notebooks are more prone to different viruses. You are browsing more websites and downloading more stuff.

Therefore, you are at more risk of having your funds stolen if you use a desktop NFT wallet.

That being said, we have a couple of security tips for you. Never download pirated software on the PC where you have your NFT/Crypto wallet. Most pirated software is full of viruses that will steal your assets.

Also, do not open any random links. For example, if someone sends you an e-mail claiming you won something, do not open it. Even worse, if someone sends you a “.DOCX” or a “.PDF” file, do not open it.

Most people don’t know, but hackers have ways of adding viruses to these files. That’s why you should only download stuff from trusted sources, and even then double-check it.

Mobile NFT wallet pros

The first and the obvious advantage of using a mobile NFT wallet is that you can use it on the go. It’s portable and you can access your assets all of the time. You are probably carrying your mobile phone everywhere with you, so it’s more convenient to use a mobile NFT wallet rather than a desktop one.

The second advantage of using a mobile NFT wallet is that mobile phones are less prone to viruses. Sure, viruses exist for mobile phones as well, but they are much less common.

To stay on the safe side, do not download cracked applications or outside of the official marketplaces, whether that’s Google Play, App Store, or something third.

If you use MetaMask through your mobile application, you can view your NFT assets and their images. This is a great advantage considering not even desktop wallets have such an option.

Mobile NFT wallet cons

Now let’s talk about the cons of using a mobile NFT wallet. The first and the obvious one is that it’s harder to use mobile wallets for creators.

When you are creating NFT projects, you’ll need to sign in and out of the NFT marketplace a lot of time. Also, you’ll need to upload a lot of different stuff, pay for many different fees, etc.

It’s way easier to do these things through a desktop wallet rather than a mobile one.

One thing you need to beware of when downloading NFT wallets to your mobile phone is authenticity. There are many fake “phishing” wallets designed to steal your NFTs and cryptocurrency.

These fake wallets look exactly the same as the original ones, but they do not operate the same. There are cases where fake wallets were even available on official app stores. That’s why you always need to verify the developers or the company behind it.

For example, let’s take a look at Trust Wallet on Google Play. You’ll quickly recognize the real one by taking a look at the developer name which is “DApps Platform Inc” in this case.

You can also take a look at the number of downloads and ratings. However, downloads and ratings can be faked by bots, so checking the developers is always the safest option.

Hardware NFT wallet pros

Hardware wallets are known to be the safest option to hold your cryptocurrency assets. What about NFTs? Well, right now you cannot directly hold NFTs on your hardware wallets, but more about that later on.

Let’s just say that you can pair it with a software wallet such as MetaMask. Why is this a good thing? Because each time you want to send a transaction, you’ll need to verify it on your hardware wallet.

As you can guess, this will stop hackers from accessing your funds. Basically, hardware wallets will safeguard your private keys, and software wallets will be used to request transactions. When the transaction is requested, you’ll confirm it on your hardware wallet.

Amongst other pros of using a hardware wallet is the fact that they are almost immune to viruses. They have a custom operating system that cannot be hacked with the same viruses PC can.

Also, you are not installing anything on the hardware wallet itself. So basically, the chances of getting malware on such a device are nearly close to zero.

Hardware NFT wallet cons

There are several cons to using a hardware NFT wallet. One of those cons is the pricing. Hardware wallets are not free, and they are often sold out. However, it’s a small price to pay considering it’s the safest option for you.

Another minus is the fact that it’s much harder to use it on the go. Some models of the popular hardware wallets don’t support mobile devices, some require USB OTG (On-The-Go), while some have special apps.

Also, it can be quite a frustrating experience to manually confirm each transaction on your hardware device if you are a creator. However, if you are just a collector, hardware wallets are great to keep your assets secure.

Can you store NFTs in hardware wallets?

Yes, you can store your NFTs in a hardware wallet. However, you might need to use a software wallet for the interface. In other words, you’ll need to use a software wallet to see the picture of your NFT.

The most commonly used two hardware wallets are Trezor and Ledger. They both support integration with MetaMask wallet. So, how does it work actually?

Well, your private wallet keys will be saved on the hardware wallet. The only difference is that you’ll need MetaMask to view them.

Hardware wallets come in the shape of physical devices which are needed to confirm outgoing transactions. Nobody will be able to steal your funds without confirming the transaction on your device first.

Does Trezor wallet support NFTs?

We admit, the process is a bit confusing and the information on whether Trezor supports NFTs is mixed. However, both Trezor and Ledger support NFTs, just use MetaMask to hold it.

Trezor has also confirmed it on their Twitter as you may see on the image down below.

Are hardware wallets a safer way to hold NFTs?

Absolutely.

Hardware wallets such as Trezor and Ledger use the highest security measures available. They are completely resistant to online hacks since your tokens will actually be saved offline.

However, the downside to hardware wallets is that you need to pay for them. Quite often they are completely sold out, and buying them from resellers is not recommended.

Regardless of that, investing in security is always a good idea in the long run. Imagine a scenario where your NFTs have gained a lot in value but got stolen because you didn’t want to spend an extra 50$ for security.

The rules are the same with hardware wallets as with software wallets. Do not share your backup keyphrase, write them down on paper and store them somewhere safe.

Can you see NFT in wallet?

You bought NFT, but you don’t see it in your wallet? No worries, it’s most likely because your wallet cannot preview the NFT image. You can see NFTs in some wallets, however, let’s verify the transaction on the blockchain explorer first.

As with other blockchain items, NFT ownership can be easily checked on public blockchain explorer websites. Each blockchain has its own explorer website.

For example, you may find all of the Ethereum transactions on Etherscan.io. You just need to input your wallet address in the search bar, and you’ll be able to see all of the transactions. You can also search for other wallet addresses that you have because everything is public.

That way you can verify if you got NFT in your wallet. However, if you still want to see the actual picture, what are your options?

• View on the marketplace – Sign in with the wallet to the marketplace where you have purchased the NFT. For example, if you login with MetaMask to OpenSea marketplace, you’ll be able to see all your NFTs. Just login and go to your profile, the NFT you have bought should be there.
• View in NFT wallet – Certain NFT wallets will allow you to view your collectibles directly through the wallet. For example, MetaMask and Trust Wallet both have “collectibles” tab. In this tab you can see all of the owned NFTs attached to your account. However, this is only available for mobile applications at the moment.

The best option would be to always look it up on a marketplace. Of course, it also depends on which blockchain the marketplace supports. You can’t view NFTs built on SOL blockchain by signing to your OpenSea account. Why? Because OpenSea supports only Ethereum, Polygon, and Klay NFTs.

Can you hold different blockchain NFTs in one wallet?

Yes, you can hold various different NFTs as long as the NFT wallet that you are using supports that blockchain. For example, Trust Wallet supports both Ethereum and Binance Smart Chain NFTs. You won’t need to use two separate wallets for it.

Some tokens can operate on the same blockchain, such examples can be seen with Polygon and Ethereum. Polygon is an ERC20 token which means it can exist both on Polygon and Ethereum networks. There are some wallets that support NFTs from both networks.

MetaMask is one of those wallets. With MetaMask you can hold both Ethereum and Polygon NFTs in the same wallet. You’ll just have to switch the network within the wallet to access the balance.

Perhaps there will be a wallet in the future that will support the most popular blockchains all in one wallet. If you are someone who is developing such a wallet, contact us and get listed.

List your NFT wallet

Our ranking table still has a few spots open. If you are a developer, or a company trying to promote your NFT wallet, this is an ideal opportunity. List your NFT wallet on our website and get new users today.

Sure, you can create an AD campaign on Facebook, Google, or similar services. However, NFT is a very competitive place and the cost for such a campaign can be extremely high. That’s why we are offering you to advertise directly to NFT buyers on our website for an affordable fee.

Other than the rankings table, we have several different positions on our website where you can advertise your NFT wallet project. You’ll choose the location based on your budget and what you are trying to achieve.

You can also contact us and we’ll tell you which AD positions on our website would work the best for you.

Why advertise on our website?

You might be wondering, what’s so special about our website? Why advertise on it? Because our visitors come strictly from the NFT niche. Your project will be viewed exactly by those visitors you aim to turn into users.

The cost of advertising on our website and targeting the right audience is much smaller than on social media. Also, we are growing each day and the prices update accordingly, so get it while it’s cheap.

Our team of blockchain experts has been involved in NFT development and research since the start of it. We are tracking all the latest trends on the market and we know exactly what’s necessary for your NFT project to succeed.

In this case, your project is an NFT wallet. We’d help you highlight the most important features that would attract people. Also, we’d suggest you add or remove something that might be good/bad for your project.

Of course, before you can list your project we need to review it. Depending on how good your project is, we’ll approve it or tell you what to fix. By having certain criteria, we can include only the best NFT projects.

The price of our service is still very low when compared to the competition. On our website, you’ll be able to directly advertise to potential consumers. Use the advantage while our website is still new.