NFTs (non-fungible tokens) have been the subject of much discussion and comment, and they are set to revolutionize the market for collectors and artists. NFT apps and wallets, however, are a requirement for participating in this fast-growing niche.

The market still has a few options available these days, but not all of them offer the same functionality. To help readers learn more about NFT wallets and apps, this article reviews the best NFT wallets and apps.

Before choosing an NFT wallet, however, you should take a look at some features.

An NFT wallet should have the following features:

Easy-to-use interface

Beginners already have a hard time understanding NFTs. An app that complicates things even further is a bad idea. Therefore, easy-to-use applications are important to choose.

The industry is still at an early stage, so there isn’t a user-friendly wallet for beginners yet. There are, however, a few NFT-collecting apps (particularly on mobile) that can claim to be perfect for beginners.

Multi-device support

The majority of NFT apps are available as extensions for web browsers, mobile applications, or desktop apps. It’s ideal for anyone who wants to manage their tokens on multiple devices because some apps like Metamask can sync transactions in real-time and are available on both devices.

Compatibility across chains

NFT users find Ethereum the most popular blockchain due to its popularity and large developer base. In light of this, it comes as no surprise that the majority of wallets support tokens based on Ethereum (ERC-721).

You will need a wallet that supports other blockchain networks if you want to mint, buy, and sell NFTs on those networks as well. Tezos, Zilliqa, Binance Smart Chain, and others are examples of blockchains where these tokens can be supported.

What are the 5 best wallets to collect NFTs?

Enjin

In-game NFTs and other collectibles can be stored in Enjin’s blockchain wallet. As well as offering the ability to hold cryptocurrencies and tokens, Enjin’s wallet utilizes ENJ, the project’s native token, to facilitate trading of these digital assets.

With Enjin, you can access decentralised finance dApps such as those used for Ethereum-based dApps. The Samsung S10 device will feature an integrated blockchain wallet built into the device that will be integrated into the project.

Pros

• Blockchain wallets from Enjin offer some of the most user-friendly interfaces for collecting NFTs.
• In-game digital collectibles and in-game NFTs can be traded in the app’s marketplace.
• The in-built exchange feature allows users to convert one cryptocurrency into another.
• Unlike other wallet providers, Enjin offers customer support.
• Biometrics and auto-locking are also included in the app.

Cons

• There is only a mobile version of the Enjin wallet.
• NFTs and assets in the app are Ethereum-based only.

Trust Wallet

With over 5 million users, Trust Wallet is another popular mobile wallet option for NFT collectors.

Users can store and manage their assets on Trust Wallet, even though NFT transfers are not supported.

In addition to supporting TomoChain, ThunderToken, Ethereum Classic, GoChain, Calisto, and Binance Smart Chain, Trust Wallet also integrates with other public chains.

Pros

• The interface of Trust Wallet is relatively easy to use.
• NFT applications can be accessed with one click through Trust Wallet.
• More options are available with support for multiple blockchains.
• Cryptocurrency exchange is built right into Trust Wallet.
• Additionally, it can be used as a cryptocurrency wallet and a DeFi wallet.

Cons

• There is only a mobile version of the application.
• Binance is Trust Wallet’s main affiliate, meaning it promotes Binance’s products ahead of Ethereum, its close competitor.

Math Wallet

In addition to being backed by industry-leading incubators such as Binance Labs and Alameda Research, Math Wallet calls itself “your gateway to the blockchain world.” This makes Math Wallet an excellent alternative to Metamask for creators and collectors.

Users of Math Wallet can manage their assets seamlessly across 65 public blockchains using native integration and support. In addition to a web wallet for separate blockchain networks, it is available on mobile devices and as a browser extension.

Pros

• Multiple blockchains are supported natively.
• Synchronization and compatibility across devices.
• Using MathWallet, you can access NFT and DeFi apps with a single click.
• An exchange feature is included in the app for exchanging cryptocurrencies.
• Math Wallet is integrated into hardware devices like Ledger, guaranteeing further security for stored assets.

Cons

• DApp staking is causing problems for iOS users.
• Active development is still underway for Math Wallet. Therefore, bugs may occur, especially on mobile devices.

Metamask

Its developers and collectors are undoubtedly interested in Metamask, which is maintained by Ethereum Foundation-backed ConsenSys.

Initial versions of the software were merely browser extensions that allowed users to connect directly to decentralized applications (dApps), such as the ones that power NFTs. The mobile version of Metamask from ConsenSys was released in 2020, however, offering an easier interface to collect NFT tokens and interact with other dApps.

To mint and trade these tokens, you can create a Metamask wallet that will connect directly to all Ethereum platforms.

Pros

• Anyone familiar with cryptocurrencies should be able to set up Metamask with ease.
• The web extension application and the mobile app are synchronized.
• Multiple Ethereum addresses can be created and switched between easily by users.
• A simple web browser is built into Metamask’s mobile version, which lets you explore NFTs and DeFi applications.
• ERC-721 tokens can also be transferred directly from one address to another using the mobile app.
• A native feature of Metamask is its direct swap support between Ethereum and other ERC-20 tokens.
• Gas fees can be tailored to match network activity using optimised and advanced fee customisation.

Cons

• Ethereum is one of Metamask’s main compatible blockchains, as well as other EVM compatible blockchains.
• Concerns have also been raised regarding the wallet providing identifiable information to data collection networks.

AlphaWallet

A wallet that can mint and collect NFTs on the Ethereum blockchain, AlphaWallet, is a free and open source project.

CryptoKitties, OpenSea, ChainZ Arena, Dragonereum, among others, are directly supported. Moreover, the app supports all Ethereum-based assets in-game, making it ideal for collectors.

Though AlphaWallet is available only for mobile devices, the website offers extensive resources for developers, artists, and businesses looking for blockchain-based tokenisation.

Pros

• This wallet offers native support for all Ethereum-based tokens and games.
• For exploring other dApps and DeFi applications, the application includes an inbuilt web3 browser.
• Users with no experience with Ethereum and NFTs will find the interface to be easy to use.
• AlphaWallet is still under active development and can easily incorporate new features to meet community demands.

Cons

• There is no support for Ethereum applications or sidechains in AlphaWallet.
• Only Android and iOS devices are compatible with the app.

Choosing the best NFT wallet

Two factors usually determine the best NFT app. You must decide whether you are a creator or collector. Secondly, you need to decide what devices you have at your disposal.

Wallets for Creators

Art made with NFT typically involves regularly interacting with marketplaces such as Makers Place, OpenSea, Rarible, etc.

Uploading files and enabling other functionalities are usually required by creators. Most of these operations require the use of a desktop or computer device and are inaccessible via a mobile device.

Because both MetaMask and Math Wallet can be accessed from the browser, creators are better off using them).

Wallets for Collectors

The transactions can be executed easily using mobile wallets that support the storage and transfer of NFT items, whether you’re only collecting NFTs from blockchain-based games or artists.

This means Metamask’s mobile version, Trust Wallet, AlphaWallet, and Enjin are all suitable for such transactions.

Getting an NFT wallet

Users can install the cited NFT wallets on compatible devices by visiting the official website.

When you first set up one of the above wallets, you will typically be given a backup seed phrase. If you lose access to your device, you can regain access to your assets using the seed phrase.

The Ethereum native token (ETH) must be bought on an exchange or broker. After installation, it should be transferred into the wallet. Buying Binance coin (BNB) and sending it to the wallet address will be required for other chains like Binance Smart Chain.

Amounts purchased are used to purchase or mint NFTs as well as pay transaction fees.

Safeguarding your crypto collectibles

In the future, crypto collectibles might be worth a lot more or hold special memories for their collectors. Here are some tips to keep these digital assets safe:

Download NFT apps and wallets only from official sites.

Don’t enter your seed phrase on any website after the initial setup. Back it up in a secure offline location.

To prevent falling victim to phishing websites, bookmark all NFT apps that you visit on your browser.

Always lock or log out before shutting down your computer if your wallet is offered as a browser extension.

Public computers should not be used for NFTs. After signing out, you should ensure that all data has been wiped.

Conclusion

As an industry that’s relatively new, existing NFT products are far from being finished and could be improved. Nevertheless, a few of the options available offer a range of advanced functions that can be beneficial to both creators and collectors.

There are many NFT wallets available, but this article reviews five of the most popular ones and provides some guidelines that can help participants choose the one that is best suited to them. Meanwhile, the world watches on to see how far the NFT industry will grow as it provides tips on how to keep your crypto-collectibles safe.

Categories NFT Guide

Tags ethereum wallets nft guide 101 nft wallets nfts top nft wallets 2022