This post contains some affiliate links.
With Cardano (ADA) wallets hitting the 1 million milestones, there seems to be more for the Cardano coin.
ADA is a fast rising crypto that is seated in the Cardano blockchain. The token has rapidly grown and currently securing the mid-position amongst the top 10 cryptocurrencies.
However, the more liquid a cryptocurrency is, the more it is susceptible to theft, loss, and other forms of hacks.
Assume you want to invest in Cardano coin and want your holdings secured and safe, then a crypto soft wallet or hardware wallet should come to mind.
Ideally, a hard wallet is more secured since it will be offline most of the time and from third-party access. On the other hand, soft wallets are less secure but could be a good place to start your cryptocurrency investment journey.
I’ll walk through the best Cardano (ADA) wallets for safe trading and storage, but first, let’s understand Cardano and its peculiarities.
What is Cardano (ADA) ?
Cardano is a fast-rising blockchain and smart contract platform with many asset ledgers. It operates using the proof of stake consensus mechanism. It also has a native cryptocurrency called ADA (₳).
Cardano Compatible Wallets and How it works
Cardano wallet is a software or hardware storage for holding your Cardano coin. It ensures you securely exchange, stake, and keep ADA.
Fewer wallets have internal exchanges where you can purchase or swap ADA or other cryptocurrencies without any need to access third-party exchanges, you can now do this directly from your wallet.
SEE ALSO: What Cryptos Can Be Staked On Coinbase
Do You know You Can Buy Crypto through Ledger?
Ledger Live wallets in partnership with Coinify and Wyre recently introduced this feature. You can purchase Cardano, Bitcoin, and other cryptocurrencies via its hardware wallet.
• Complete control: You’ll be the only one in charge of the crypto you just bought, starting from the moment you finish the purchase.
•Convenience: Buy crypto in just a few clicks directly via Ledger Live. No extra crypto transaction needed to keep your crypto secure.
•Highest Security: Buy your crypto from the security of your Ledger hardware wallet.
•All in one place: Ledger is the gateway to securely buying, exchanging, selling, and growing crypto. All in one app.
For instance, a newly purchased Ledger wallet requires that two type of keys are created when setting up an account: a public key and a private key.
The public key is used in creating and sending a Cardano wallet address to buy ADA. However, to send ADA or register a transaction into the Cardano ledger, you will need to sign in with your private key. The private key is your security and must be kept private.
Two Broad types of Cardano wallets
A hot wallet is an online cryptocurrency storage space for the safekeeping of ADA and other cryptos. They are custodian or exchange wallets that controls both private and public keys.
This, therefore, means that the security and safety of your coins rest in the hands of your custodians. So you must carry out a proper due diligence before choosing one.
Cold wallets are hardware devices that store and preserve users’ coin holdings offline. Private keys are exclusively at the disposal of the owner with a duty to secure them. For the safe keeping of your Cardano, Hardware wallets are highly recommended.
Hardware wallets have their private key and all trades secured on the device itself. This ensures that you are safe from any hacks online and also, third-party custodians cannot have access to your key.
More so, some of this hardware is programmed to self-destruct upon detecting any form of breach. This means, even if your device gets lost or stolen, no one can access your data. There is a feature known as the password manager which helps to save complex password which is not easy to recall.
The following are the Best 11 Cardano Wallets.
1. AdaLite ( Web Wallet)
AdaLite web wallet was created by Vacuumlabs in collaboration with Cardano. It is an easy-to-operate Cardano wallet exclusively for the coin. It supports hardware wallet integration and can be used for staking Cardano. Currently, it supports the Ledger brands of wallets
- Supports Cardano staking
- Integrated Hardware wallet
2. Exodus Wallet (Mobile & Desktop)
Exodus wallet enables you to access your cryptocurrency from anywhere by simple synchronization, it is an integrated exchange. You can trade and hold ADA and 100+ cryptocurrencies on it. It supports Linux, Android, Windows, Mac, and iOS gadgets.
SEE ALSO: Best Hot and Cold Bitcoin Wallets
3. Guarda Wallet (Mobile, Desktop)
Guarda is a wallet with multiple outlets where users can hold, buy or sell their Cardano token. It also supports over 40 other cryptocurrencies. The Guarda wallet does not keep your data or passwords on its server.
It enables you to save an encrypted backup on your gadgets. This would allow you to easily access or restore your wallet via any internet-enabled device.
The wallet has a web wallet that is very resourceful and easy to operate. It also fully supports Linux, Android, iOS, Windows, Mac OS, and Chrome. Guarda has a very innovative and easy-to-use Web Wallet. You can easily swap cryptocurrencies within the wallet using its internal exchange.
- Safe and secure
- Supports Cardano Staking.
4. Bitbox02 (Hardware)
Bitbox02 is an updated and more fortified version 2 of the Bibox series created by the Shift Crypto security AG. This version comes in two editions: the bitcoin-only version and the multi-coin edition. These two editions have similar hardware but different software.
The multi-coin edition is out of focus since it supports Cardano staking. It also provides a universal 2-factor authentication which further secures the wallet.
It uses a microSD card as an external backup. The card can be used on Bitboxapp. The edition also uses 24 words recovery system which can be displayed optionally. Additionally, it has a large screen (128×64px) that displays transaction pieces of information. This allows you to verify what you want to sign.
Furthermore, it comes with a USB-C which means you can plug it directly into your computer or Android phone. It also has a cable and a USB-C to USB-A adaptor.
- Safe and Secure
- Easy backup and restore
- OLED display
5. Trezor Model T (Hardware Wallet)
Created in 2014, Trezor is a mini-computer that can hold Cardano (ADA) and many other cryptos as well. It is pairs well with Daedalus or Yoroi ADA wallets. It supports 1000+ cryptocurrencies and many crypto wallets.
It has a simple interface that can be easily operated via touch screen. Its hardware and software were specified openly, that is during its invention, everyone was allowed to test its code to suggest its shortcomings.
It supports Cardano staking and exchanges. Each ADA exchange/stake can only be issued on your gadget by your private key.
It has an interesting feature known as the password manager. This feature creates and documents and encrypts complex passwords. It helps to save passwords that you can not easily remember.
- Supports Cardano staking
- Internal color touchscreen.
- Password manager.
6. Ledger Nano S (Hardware wallet)
The Ledger Nano S hardware wallet allows users to operate multi-assets as it supports over 1100 digital currencies and about 27 tokens. It is compatible with other Cardano wallets like AdaLite and Yoroi Daedalus. including Cardano (ADA).
In case you lost your Ledger device, you can easily configure and restore your account using the recovery phrase. It also has a coded chip where it securely keeps your private key. This key is what you will use to sign all your Cardano stakings and exchanges.
It has a display screen with an interface which you can easily operate with its two buttons. It also protects sensitive data by building a wall around each mobile app. This service is powered by BOLOS OS created by Ledger.
- Supports Cardano staking.
- It is Safe.
- It is Economical.
7. Ledger Nano X (Hardware Wallet)
Ledger Nano X has a Bluetooth connection enabled which is a plus if you wish to operate your ledger on a mobile gadget. It also allows the WalletConnect which connects mobile wallets with decentralized apps through QR code.
Ledger Nano X has a large storage capacity which allows the installations of many wallet apps. Its backup capacity is 100mAh which can last for 8hrs under constant use and weeks when it is inactive. It also has a screen dimension of 128 x 64 and operated with just two buttons on the device.
It supports Cardano token exchange and staking. It is about the most secure crypto wallet. It ensures all transactions are signed with your private key within your mobile device. This key is safe and unexposed. It works well with Yoroi or Daedalus for staking Cardano tokens.
- Cardano staking
- Safest hardware wallet.
- Can be operated on a mobile device
- Large storage capacity.
8. Ellipal Titan (Hardware Wallet)
This is a very innovative piece of a hardware wallet that has intriguing features. This wallet neither supports Bluetooth nor USB cable. It operates based on the Air-gapped security state.
The air-gapped security state works electronically, physically, and electromagnetically separating other networks from your Ellipal hardware wallet.
It only functions with QR codes on your mobile phone Ellipal app. This hardware wallet has a very robust structure. It has a case made with absolute metal and a widescreen.
Ellipal wallet provides a very safe and solid place to keep and trade your crypto as it prevents attracts either online and offline. It has a self-delete anti-breach mechanism that instantly erases all data in it whenever a breach is detected. Interestingly, it allows users to add a 13th word to the 12 words mnemonic security system.
You can hold or trade with about 7000 tokens and 38 Blockchains on Ellipal. Coins can be easily and safely switched within the Fintech wallet. It supports android and iOS gadgets. however, you can not stake Cardano on Ellipal.
- The secured air-gapped security state
- In-built anti-temper self-destructs program.
9. Atomic Wallet (Mobile, Desktop)
Atomic wallet is a multifunctional type of crypto wallet. It has a lot of features that make it ideal for holding multiple assets. Users can also purchase and trade crypto assets easily via the wallet.
This wallet can be used on a wide range of operating systems such as Android, iOS, Mac OS, Windows, Ubuntu, Fedora, etc.
ADA and over 300+ cryptocurrencies can be kept and exchanged on an Atomic wallet. It operates on BitTorrent technology which ensures that data and passwords are kept on your device and not on servers used.
Atomic wallet as sponsored by Changelly allows you to directly use Credit cards to purchase Bitcoin and 4 other cryptocurrencies (not ADA). The wallet is the first of its kind to possess a token coin of its own.
- Use of Credit card
- Safe and secure.
Yoroi wallet is a light wallet for daily Cardano transactions. It is powered by Emurgo. It works on mobile devices and browser extensions like firefox and chrome. You can easily download, install and start enjoying its features.
It is a wallet secured with encrypted private keys which makes it very safe for use.
Yoroi is compatible with Trezor Model T and Ledger Nano S & X. You can easily stake your Cardano token coin, ADA using this wallet.
- Can integrate Hardware Wallet.
- Supports Cardano staking.
- Fast and easy installation process.
SEE ALSO: 5 Best Bitcoin Wallet Providers in 2021
SEE ALSO: 10 Best Cryptocurrency Exchanges in 2021
11. Daedalus Wallet (Desktop)
Daedalus is one of the most secure Cardano wallets. It has an only desktop version which supports Window 8.1 and 10, Linux and Mac. It was created by IOG.
You can easily install, synchronize and start using it in under 30 minutes. It has great retrieval and backup components which help you to recover your lost account. It is compatible with several wallets like Trezor Model T, Nano S, and X hardware wallets.
It supports an unlimited number of wallets which helps in organizing your ADA but also has excellent backup and recovery features. Daedalus also supports the creation of many wallets to modify Cardano staking. It also allows you to explore many stake pools and pick anyone you wish to designate your Cardano token.
- Support integration of Hardware Wallet.
- Supports Cardano Staking
- Enables creation of multiple wallets to modify ADA staking
What is Cardano Price Today?
Cardano (ADA) is trading in its normal price range.
Cardano Price Chart
Image credit: Mockup vector created by rawpixel.com – www.freepik.com
Crypto Tools: Essential Resources for Crypto Traders
Crypto tools are essential for anyone looking to navigate the complex world of cryptocurrency. With the rise of digital assets, it is becoming increasingly important to understand the various tools available for trading, analyzing, and securing your digital assets. From market indicators to crypto exchanges, these tools can help investors make informed decisions and maximize ...
CFD Forex Calculator: A Comprehensive Guide with Practical Examples
In the current fast-paced financial world, the foreign exchange (Forex) market has become one of the largest and most liquid markets globally. With the advent of online trading platforms and the increasing popularity of Contract for Difference (CFD) trading, retail traders now have the opportunity to speculate on currency price movements and potentially profit from ...
Understanding And Navigating Decentralized Exchanges (Dex)
A DEX is based on the concept of “disintermediation,” it refers to omitting mediators and enabling everyday people to transact businesses freely with their counterparts. A DEX does not guarantee the maintenance of users’ crypto assets. On the other hand, users always precisely control their funds in their digital wallets. Read on as we take ...