In the crypto industry, the best way to secure your investment is to keep your eggs in different baskets. Moreover, you need to ensure that the baskets are locked.
I mean that the assets should be distributed across wallets, and you also need to ensure that those wallets are safe and secure. In the past years, CoinSutra has contributed significantly to educating the crypto community about how to keep investment safe and secure.
Today’s post is focused on how you can keep your ADA tokens safe. So we have collated a list of top Cardano Wallets to store your ADA tokens.
So let’s dive in.
Top 8 Cardano Wallets to store ADA
The best wallets to store your ADA tokens are as follows:
1. Binance (Exchange Wallet)
As you already know, Binance is one of the best crypto exchanges in the world. It provides world-class security to its users.
At the platform’s level, the exchange takes various steps to ensure security, such as:
- Storing maximum funds in cold storage to avoid hackers,
- Suspending withdrawals within 24 hours of any account changes,
- Using Multi-Sig wallets that require more than one authorized person to access funds,
- End-to-end data encryption
Several other security measures are also available on the user level, such as:
- 2 Factor Authentication,
- Withdrawal Whitelisting,
- Device Authorization,
- Regular security updates and tutorials
Binance has a Secure Asset Fund for Users (SAFU), where 10% of the platform’s fee is saved. This fund can be used in case of a hack or theft on the platform. Thus, it works like an insurance policy.
Lastly, Binance offers many products like savings or staking, allowing you to earn passive income on your ADA tokens.
Therefore, Binance is one of the top options to keep your ADA wallets.
For more information on Binance, you can refer to our comprehensive Binance review here.
2. Exodus (Desktop, Mobile, and Web Wallet)
Exodus is one of the top non-custodial wallets available in the market. This means that users have complete custody of their funds at all times.
However, it should be noted that in the case of non-custodial assets, a network gas fee must be paid every time there is a transaction.
The wallet provides many additional DeFi features such as staking and lending, allowing you to earn passive income on your crypto assets.
The wallet has the following user interface:
- Desktop Wallet
- Mobile Wallet
- Browser Extension
From a security point of view, the platform is safe to use as it does not have custody of your crypto assets. The wallet does not have features like 2 Factor Authentication. You can secure your Exodus wallet with Trezor Hardware Wallet. Thus, keeping your funds linked to an offline device, making it more secure.
Therefore, Exodus is a great choice to keep your ADA tokens.
3. Ledger Nano X (Hardware Wallet)
Using a hardware wallet is the safest method to keep your crypto assets. Further, the best hardware wallet available in the market is Ledger Nano X.
A Ledger wallet gives you 100% custody of your funds and allows you to keep these funds offline. The wallet is online only at the time of a transaction.
- The wallet can be managed through a mobile device
- You can create multiple asset accounts
- The device easily connects with DeFi apps through the Ledger Live app.
The wallet is easy to use, has a simple user interface, and gives you the safest way to keep your crypto assets.
4. Trezor Model T (Hardware Wallet)
Trezor is another great hardware wallet that keeps your funds offline. So, you have complete custody of your crypto funds at all times.
Trezor was one of the first hardware wallets ever made in the crypto industry. Trezor Model T is a much-upgraded model of the earlier Trezor wallets. It has a touch screen and is pretty easy to use.
The wallet provides a supported browser, desktop, and android interface. The wallet also gives you access to Trezor Suite, which allows you to explore various DeFi applications.
You can watch some of our Trezor wallet tutorials here:
5. Daedalus Wallet (Desktop Wallet)
Daedalus Wallet is a Cardano-specific wallet. The project is supported by Input Output (IOHK), the company behind Cardano.
The exchange has advanced security and validation systems. The wallet validates all the transactions internally. This ensures trustless, accurate, and efficient processing of transactions.
Daedalus is a Desktop wallet that supports all the top ecosystems, i.e., Windows, macOS, and Linux.
The wallet provides various user interface themes that allow you to customize it per your preference. Thus, it can be preferred for saving ADA tokens.
6. Eternl (Mobile and Web Wallet)
Eternl is another non-custodial wallet that allows you complete custody of your ADA tokens. This wallet was earlier known as “ccvault.io” but was later rebranded as Eternl Wallet.
The wallet is available as a browser extension and a mobile application for iOS and Android devices. The wallet can also be paired with a hardware wallet such as Ledger or Trezor.
Eternl wallet also allows you to connect to various DeFi apps. Further, you can stake your ADA tokens to earn passive income on them.
Please note that Eternl is a light wallet. This means it does not validate the whole set of transactions but only validates block headers. Although this can reduce a wallet’s security, the wallet is easy to run and maintain.
7. Yoroi Wallet (Mobile and Web Wallet )
Yoroi is a non-custodial light wallet for the Cardano blockchain network. The wallet is developed by Emurgo product which is supported by Input Output (IOHK), the company behind Cardano.
The Yoroi wallet can further be secured by hardware wallets such as Ledger or Trezor. Additionally, you can connect to various DApps linked to the wallet.
The wallet is available as a web wallet and a mobile wallet for iOS and Android devices.
Please note that Yoroi is a light wallet. This means it does not validate the whole set of transactions but only validates block headers. Although this can reduce a wallet’s security, the wallet is easy to run and maintain.
8. Typhon Wallet (Web Wallet)
Typhon wallet is a non-custodial wallet that can keep your ADA tokens safe. The wallet can further be secured by connecting with a hardware wallet such as a ledger or trezor.
You can stake your ADA tokens on a Typhon wallet to earn passive income. Further, the wallet allows you to store, send or receive NFTs (Non-Fungible token).
The wallet is available as a browser extension for Google Chrome, Brave Browser, and Microsoft Edge.
Conclusion – Top Cardano Wallets to store ADA
So, this was the list of top crypto wallets where you can keep your ADA tokens safely. In addition to this, many wallets provide you access to staking, savings, and lending services. So, you can also earn passive income on your assets.
If you are new to crypto wallets, then you can read some of our related posts:
I hope this post was helpful for you. Let us know your feedback if you have used any of the above wallets. Tell us more about the tokens you want to keep secure, we will bring the best wallets for you.
Please note that nothing written in this article is a financial advice. Please consult your financial advisor before making any financial decision.