Good morning. This is Fennec.
The other day, I received a research request from Yusuke-san of Coin Club Japan, “Can you check out a good crypto asset wallet?”
So I said, “Okay,” and looked for a good crypto asset wallet! So today, I would like to share with you what I cooperated in the survey.
I hope you’ll visit Yusuke’s YouTube channel too. They provide a lot of useful information that I don’t have much chance to see in Japan.
5 Software Wallets
What kind of crypto currency wallet do you use?
Hard wallet? Or soft wallet? Maybe it’s a paper wallet, kept in a safe and secure place? Or maybe you left behind at the cryptocurrency exchange…!
There are many ways to use a wallet, whether it’s to store all your money in one place that you know you can trust, or to keep it here for now so you can trade it quickly.
Today, I will focus on some of the most popular and long-lasting soft wallets that can be used with confidence, and introduce their features.
The following are the five wallets I will introduce today. All of them are free software wallets.
- coinomi – Official Site / Twitter / Assets
- Exodus – Official Site / Twitter / Assets
- Trust Wallet – Official Site / Twitter / Assets
- MetaMask – Official Site / Twitter / No assets information
- Atomic Wallet – Official Site / Twitter / Assets
The more people use the wallet, the better the quality of service will be, with more functions and higher security. Also, it will be less likely to happen in the future that support suddenly ends and you have to find another wallet from scratch.
Therefore, the ones I will discuss here are suitable for long-term investment.
For XDC holders, I recommend the D’CENT Wallet, which is officially supported and compatible with both hardware and software, since there are no official XDC storage solutions among the ones I have introduced.
coinomi – High security and wide variety of stocks
Official Site / Twitter / Assets
I think the most important thing about a wallet is that it is safe.
Of course, the safest way to store your money is in a cold wallet, but it is expensive to prepare a hard wallet such as Ledger Nano or Trezor. Depending on your point of view, you may want to use a very safe and free soft wallet and use the money you save to invest.
If you can relate to this approach, you may want to consider using coinomi.
Overview
[Devices] Mobile: iOS, Android / Desktop: Windows, Mac, Linux
[Assets] Crypto currency: Over 1,770 types / NFT: ERC-721
They have a lot of stocks, zero send/receive fees, accept credit or debit card payments through Simplex, support Seg-Wit, and they also have live chat support. With Seg-Wit support, there is a risk of losing assets in case of mis-transfer, but the fees are said to be lower and the transfer speed is said to increase.
High safety
coinomi is a very early multi-chain compatible software wallet that has never been a victim of hacking. It has been in operation for many years since it was released in 2014, and according to the information provided on the official website, no one has lost any assets due to coinomi.
No account creation or authentication is required and there is no KYC. The wallet and IP are not associated and there seems to be no transaction tracking. The private key never leaves the device, providing excellent privacy and anonymity.
You can use the DeFi service by accessing the dApp from the wallet’s built-in browser, which saves you the trouble of accessing external sites and allows you to take advantage of the wallet’s safety as trading is completed within the coinomi app.
In addition, a blockchain-based digital ID is built into the wallet; since the ID is stored in a decentralized manner, the probability of it being hacked is low. It is written on the website that they pay close attention to the virtual currency issues that are added. I’m glad that they care about this because they handle a lot of stocks.
Click here to see which brands are compatible with staking.
Developers
coinomi was founded in 2014 and now they have employees all over the world. They plan to support additional features such as lightning networks and atomic swapping in the future.
Exodus – Perfect for your first crypto wallet
Official Site / Twitter / Assets
Although coinomi is easy to use, it can be a bit daunting for newcomers because of the staking process and the loss of assets if you send money to the wrong address. If you are new to using a wallet and don’t know which one to choose, I would like to recommend the Exodus wallet, which I will introduce next.
Overview
[Devices] Mobile: iOS, Android / Desktop: Windows, Mac, Linux
[Assets] Crypto currency: 145+ types / NFT: not supported
[Hardware] Integrates Trezor One and Trezor Model T (supports over 115 assets)
Private keys and transaction data are encrypted, personal data is kept private, no account registration and KYC required, desktop version and mobile app can be synced, one-touch staking, and there is nothing missing. As of October 25, 2021, NFT will be supported in the future. And, staking can be done by installing the “Rewards” feature in the desktop version.
A friendly points for first-timers
Exodus is a well-supported wallet that is easy for anyone to use.
The screen is clean and easy to read, and the controls are simple. The light motion during operation is pleasant and fun to touch. If the design strikes a chord with you, I think you’ll enjoy just looking at it in general.
The fact that it supports Trezor is also ideal for the first wallet you choose. If you want to transfer virtual currencies stored in a soft wallet to a hard wallet, Exodus allows you to move most of the assets you have stored.
Like the Ledger Nano, the Trezor Wallet is a well-known hardware wallet that is the industry standard, so it is easy to get by mail order.
I did some analysis with Keepa, and it seems that Trezor One is selling 1.5 times more than Trezor One on Amazon.com.
When sending and receiving using QR codes, the system automatically checks the destination address for errors, so there is no need to worry about accidental transmission.
If you have any problems, there is a 24/7 human support line that you can message. Help is also available.
As well as QR codes, Exodus has a friendly app design itself, for example, you can see a brief description of the virtual currency within the wallet app. I also appreciate the links to social networking sites, as I use them often.
Developers
Exodus was founded by JP Richardson and Daniel Castagnoli. JP is a systems engineer and has released over 200 open source libraries that are frequently used in virtual currency related software. Daniel, the creator, used his experience working for Apple, BMW, Disney, Louis Vuitton, Nike, etc. to create the delicate design of Exodus.
Trust Wallet – Store a large number of assets in one place
Official Site / Twitter / Assets
Exodus has a weakness in that it can only store a small number of stocks, so if you want to manage a large number of stocks in one place, Trust Wallet may be a good match. It is the official wallet of Binance with over 10 million users.
Overview
[Devices] Mobile: iOS, Android *Not supported on desktop
[Assets] Crypto currency: more than 1 million types / NFT: ERC and BEP-721, 1155
You can do staking, and with the Trust DApp Browser feature, you can do yield farming with Pancake Swap. It’s for smartphones, but it’s easy to use with Japanese support.
A wide variety of stocks to choose from
It is a wallet that supports many chains and can store many types of crypto currencies.
You can connect to any dApp on the Binance smart chain and Ethereum network. With the Trust DApp Browser feature, you don’t have to worry about whether you can store your money when you trade through DEX (such as Pancake Swap). The NFT can also store all ERC-721/1155 and BEP-721/1155.
Note that on iOS, there is no DApp Browser in the app. When using Pancake, please access it directly with a web browser as shown in the image below, and select Trust Wallet when connecting.
Developers
Trust Wallet is an open source project.
It is scalable and the number of virtual currency issues it can handle is expected to increase in the future.
MetaMask – Convenient to use and hardware to support
Official Site / Twitter / No assets information
Trust Wallet is only available for mobile devices, so it may be difficult to use for people who don’t usually go out that much. The next one, MetaMask, is a useful desktop web browser extension.
Overview
[Devices] Desktop browser / Mobile: iOS, Android
[Assets] Crypto currency: ERC-20 / NFT: ERC-721 *Custom chains can be added
[Hardware] Support Trezor and Ledger as extensions
Because the password and key are generated on the device, only you can access it. The extension supports the hard wallets Trezor and Ledger, and it’s very secure.
Convenient and easy to use points
It is a versatile, open-source, multi-chain wallet that can be used in both apps and browsers. It’s a convenient wallet that can be used in a variety of situations and supports a large number of dApps, making it a must-have wallet for DeFi users, NFT enthusiasts, and crypto-gamers.
Multi-chain support is possible by adding a custom network, so tokens and NFTs of various standards can be stored. The operation is intuitive and easy to use, making it a good choice for first-time users. It is available in Japanese, so even those who are not good at English can use it. No wonder it has over 10 million active users.
Developers
ConsenSys, the company behind MetaMask, is a leading Ethereum software company based in New York. In addition to MetaMask, Infura, Quorum, Truffle, Codefi and Diligence serve millions of users in their respective fields.
MetaMask is an open source project.
Development has been made possible by the cooperation of engineers from around the world.
Atomic Wallet – Excellent staking and reward system
Official Site / Twitter / Assets
Some people who hold many types of virtual currencies may want to keep them in their wallets while also staking them if possible. The Atomic Wallet is recommended for such people.
Overview
[Devices] Mobile: iOS, Android / Desktop: Windows, MacOS, Linux
[Assets] Crypto currency: over 300 types / NFT: not supported
As the name implies, it is the pioneer of the atomic swap wallet. The private key never leaves the device, and there is no need for account authentication or KYC, so your privacy is well protected. You can get official support at any time via live chat or email.
A good rewards program
It is a wallet with many types of cryptocurrencies that can be staked with basic functions.
If you hold a Governance Token AWC, you can earn up to 1% cash back in membership rewards.
Depending on the amount of tokens you hold, your membership class will change and the amount of cash back will differ. In addition, there are other benefits such as discounts, affiliates, and incentive programs for using the wallet.
Developers
The Atomic Wallet was created by the team of Konstantin Gladych and Charlie Shrem. CEO Konstantin has a PhD in Data Science and is the co-founder and CEO of Changelly.com. Changelly.com is a crypto currency exchange with over 2 million active users per month. Charlie is an American entrepreneur and former vice president of the Bitcoin Foundation. The Bitcoin Foundation is a non-profit organization founded in 2012 to standardize, protect, and promote the use of Bitcoin.
CoinMarketCap, Block Chair, Binance DEX, Simplex and others are partners of Atomic Wallet.
Afterword
Did you find a wallet that looks good?
They all have their own personality and charm, so try them out if you like!
Today, I have only given a brief explanation, but I hope you will take a look at the wallets I have introduced and find the one that suits you best. I had to cut down a lot of candidates to narrow down the list to five, so I hope you will discover other wallets as well.
Thank you so much for coming to visit here!
I’d love it if you’d follow me on Twitter.
