Investing has always been scary for investors. Selecting where to invest and how to invest is quite confusing. Moreover, the traditional process limits investments only to a specific group of people based on their financial condition. The introduction of crypto wallet for NFT and blockchain technology, has changed the circumstances a lot.
If you’re a crypto enthusiast, you must be aware of the facilities they provide in the field of investments. NFTs offer you to tokenize your digital assets and share your own with others. You can even share your artwork and sell them in the NFT market without completely losing your ownership over the art. All you need is an NFT wallet to store your NFTs there.
Many NFT wallets use blockchain technology, mainly the Ethereum blockchain, but only some of them are used out of that. So, if you’re a newbie, you must be confused about how to create an NFT wallet, can you store NFT on crypto wallet, or even which one to choose to store your NFTs. Below is a complete list of the top 7 best crypto wallet for NFT. Let’s dive in.
What is an NFT Wallet?
So, before providing you with the list of the top 7 best crypto wallet for NFT, you should have a little idea about what is NFT wallet. NFTs or Non- fungible tokens are tools that can tokenize your real and virtual assets and ensure a high value for each of them. The blockchain technologies upon which the NFTs are based secure your ownership and identification of your digital assets.
To put it simply, let’s say you have a painting, and you assign a value to it with the help of blockchain technology, so it can be said that you tokenized the painting. Your tokenized painting can be shared with many people without completely passing the ownership. So, if three people buy your painting, you can share the ownership with those three people, and each can claim a portion of the assets as theirs.
An NFT wallet is software or hardware that enables the communication between users and blockchain networks. When trading NFTs, they are essential. Additionally, an NFT wallet creates a private key for the asset’s blockchain address. Any transaction on that address must be authorized using this private key.
In your NFT wallets, you can keep your newly purchased assets and the assets you already had. To understand it better, you can think of your bank locker where you store your valuable physical assets, including money. But unlike bank lockers or accounts, NFT wallets don’t store any digital assets; instead, it locates the position of the assets and funds in a blockchain.
Importance of NFT Wallets
As mentioned earlier, NFT wallets are not like physical wallets that store your monetary or non-monetary assets; instead, blockchain technology saves the value of your asset, and your wallet can locate your asset in the blockchain. You will be provided with a private crypto security key when you are tokenizing your digital asset.
Think of a PIN to have a better insight into the security key of crypto. So, only the person possessing the key can have access to the digital assets because of encryption.
Your NFTs can be anything, including several applications, smart contracts, or other physical or digital assets you possess. You can share these assets with anyone according to your choice; therefore, you are keeping the security of your assets at stake. There is an instance where digital artworks and credit card data were taken from accounts at Nifty Gateway, an NFT marketplace. So, your NFT wallets provide you with this security.
These wallets help you acquire additional assets and make purchases with the ones you already have. NFT wallets now have features for storing NFT art after minting or purchasing due to the recent surge in NFT purchases.
Now you may wonder about “do I need a crypto wallet to sell NFT?” If you want to sell your NFTs in any market, you must first set up your NFT wallet. Follow the simple steps given below to set up your NFT wallet:
Select the type of NFT wallet and choose one according to your necessities. Now the most popular one among the users is Metamask wallet NFT.
Therefore, let’s see how to create a Metamask account in the chrome extension.
- Visit MetaMask.io
- Go to “Download” on the homepage.
- Click on “Install metamask for chrome.” Automatically, the chrome version will get downloaded.
- Click on “Add to chrome.” You will get your extension on your chrome. Once installed, click the puzzle piece symbol to reveal the MetaMask fox head icon in the upper right corner of your browser.
- Select “Get Started” and then select between “importing an existing wallet” and “setting up a new one.” If you’re a newbie, you will select the latter and then go to the “Create a Wallet” option.
- Create and verify a password that adheres to MetaMask’s recommendation of 8 characters or less. Ensure that your password is distinct and not being used elsewhere. Click “Create” after accepting the terms of usage. You have successfully created your first crypto account.
- You may examine your seed phrase once you’ve established your wallet (the 12-word sequence is your password which will provide you the access to back up your account). Click “Next” once you’ve written down your seed phrase.
- By selecting the appropriate words from your 12-word sequence in the appropriate order, then clicking “Confirm,” you may verify your seed phrase.
- Select “All Done.”
So, now you have a Metamask wallet NFT. Now, you will also get access to your Metamask account on mobile.
- Install the Metamask app on your phone.
- Select “Get Started”
- Select “Sync with MetaMask extension.”
- First, open your Metamask desktop extension, select Settings>Advanced and choose “Sync on mobile,” and enter the password.
- Scan the QR code that will appear using your phone’s camera.
If you want the best NFT cold wallet for your crypto, you can use some hardware wallets like Trezor or Ledger. You can connect your hardware wallets with Metamask or any web 3-enabled site for extra security.
After creating your NFTs, you need to link them with several NFT markets to perform trading with your NFTs. Opensea and NFT wallet WazirX are the NFT markets that allow you to link your hot or cold wallets to perform transactions.
Understanding NFT Wallets
There are many wallets present in the market. Each has its features, some of which are free NFT wallet, and others demand a nominal price for setting up the crypto wallet. You can divide cryptocurrency wallets into two- hot wallets and cold wallets. You can store your NFTs both in the cold and hard wallet. The hot wallets are the software-based wallets, whereas the best NFT cold wallet are the physical ones; both are effective for storing your cryptos and NFTs.
You are now aware of NFT wallets and why storing NFTs in wallets is essential. But many NFT wallets are available in the market; only a few are famous among users. So, how to choose the right one for yourself? You should be concerned about some factors when choosing your NFT wallet.
- Check compatibility with the marketplace and the NFT that you have chosen.
- Check the security status of the wallet.
- Go for a wallet with an easy user interface.
- Check whether it can be used for both laptops and mobiles.
- Check whether the wallet supports multichain.
After checking all the above-stated factors, choose the best option for you.
List of Top 7 NFT Wallets
One of the biggest NFT wallets and most widely used Ethereum-based wallets in the market is called Metamask. According to users’ reviews, it is one of the best NFT wallets. It may keep ERC-721 coins and other ERC-20 tokens from the Ethereum network.
It is both a portable iPhone and Android app and a software upgrade for well-known apps. To sync the programs and mobile applications, use your smartphone to scan the QR code.
Since the open-source program, users may check it for known security flaws and contribute to its continuous improvement. Additionally, for individuals who are not familiar with bitcoin or NFTs, its user-friendly interface is excellent. Printing and managing assortments become an easy process if you are aware of these phases. Utilization simplicity and the concentration of NFT commercial centers are advantages.
Due to its frequent interactions with the leading NFT business hubs, we may even claim that it is the simplest method to comprehend the Ethereum wallet. It includes Raible and OpenSea wallets.
We get a lot of questions like can I use Coinbase wallet for NFT? The main feature of Coinbase NFT wallet is its virtual currency exchange, and it was the first company involved in cryptocurrencies to get a public listing on the NASDAQ. A key selling point for the new NFT authority is the Coinbase name. The wallet rewards a strong organization’s consistent success.
A recognized and governed US-based organization may also offer support to clients. By linking the two, customers may move money between their Coinbase NFT wallet and their account statements without paying additional fees.
It has decentralized application (dApp) software for sending out trades. For instance, Uniswap may be used straight from wallets.
You can link it to Coinbase.com accounts, one of its numerous benefits. The user interface is simple and efficient—a reliable brand from a reputable company.
One of the best alternatives for those looking to invest in tokens based on Ethereum is AlphaWallet. Alpha Wallet users have the option to mint and purchase NFTs. NFT markets like Chainz Arena and Opensea wallets are compatible with it. The UX is often simple and approachable, making it a safe choice for new users.
AlphaWallet is capable of supporting any coin that can be subject to a smart contract. Whether connected to intelligent contracts or not, actions in the AlphaWallet interface are rendered from TokenScript files rather than being hardcoded.
The wallet’s user interface (UI) is straightforward. DApps, markets, games, and other services are accessible with ease with the built-in Web3 browser.
There are several benefits to using the AlphaWallet. It supports NFTs based on Ethereum, the most popular digital token. The platform is user-friendly, and engineers want to make more improvements. Users may use the browser to find out more about the highlighted DApps.
For anyone who wishes to manage all of their NFTs and cryptocurrency in one location, Enjin Wallet is an ideal one. The crypto wallet for NFT features an integrated exchange for quick and straightforward transactions and allows you to gather, swap, and trade your assets effortlessly. You may gather all of your valuables in one location with the help of Enjin Wallet, which offers an ideal home for NFTs and cryptocurrency.
You can manage, exchange, and collect all of your NFTs using blockchain technology, along with Bitcoin, Ethereum, and various other cryptocurrencies.
Now that you can handle any DApp or Defi swap (on Android and iOS devices) without leaving the security of your new Enjin wallet, you can always be sure that your money is secure. Using your biometric signature, you can rapidly authorize transactions and gain access to your NFT wallet. As a result, you won’t have to use a difficult-to-remember passphrase anymore.
You may also link your hardware, like a Ledger or a Trezor, to the wallet software and past import wallets.
Binance is the owner of the popular mobile-only wallet called Trust Wallet. It supports several blockchains, including Ethereum, but has a strong bias toward intelligent chain tokens. Trust Wallet could be your best wallet for NFT on the Binance bright chain, as it’s already configured for BEP tokens.
Like other wallets, Trust Wallet has a dApp browser to locate NFT markets, making it easier to buy NFTs directly from the wallet. Additionally, it has an integrated exchange function that lets users quickly trade currencies to obtain the appropriate tokens for exchanging for the NFTs they wish to purchase.
Math Wallet, one of the biggest NFT wallets, is a strong competitor of Metamask. The fact that it accommodates more than 70 blockchains is its crucial distinction. It allows connections with several hardware wallets and provides a web, desktop, and mobile wallet that syncs between devices. Moreover, Math Wallet allows you to create several addresses.
Users of Math Wallet may view NFT markets using the built-in dApp browser. Other advantages for cryptocurrency owners include staking and exchanging, and providing a utility token of its own.
The first Web3 wallet with encrypted biometric security and no private critical vulnerability is ZenGo. Although billion-dollar organizations have been using this technology for years, ZenGo is the first wallet to provide these cutting-edge security capabilities as a cryptocurrency wallet.
Through a straightforward 2-step verification procedure, ZenGo’s 3-Factor authentication mechanism ensures that only you can handle your cryptocurrency and that your wallet is regularly backed up in case you lose your phone.
ZenGo supports over 70 assets, including Bitcoin, Ethereum, and Tezos, and provides live customer help around the clock.
Now, you have the list of the best wallet for NFT and know about free NFT wallet, and you can store your tokenized digital assets. The wallets also secure your ownership of the assets. If you want to secure your digital assets even after your death, the easiest way is to form a digital will. Digital will consider a list of all your digital assets, including your crypto and NFT wallets. You can form your digital wallet now, no matter how much your income is and what your age is. You can always consult a professional to get a guide about your digital assets.