Best Cardano Wallet To Store ADA Digital Coins In 2020

Tarulika  |  Mar 31, 2020

Cardano!! After reading a few of the guides on Cryptoknowmics, you must be familiar with Cardano. But if it is your first time on our site, then either you can go through them or read the brief introduction ahead. Cardano is the third generation crypto platform which facilitates smart contracts and DApps for making the crypto space more scalable with better interoperability. Cardano also has its native currency ADA, which is majorly used to send and receive digital funds in faster and cryptographed manner. Till now I hope either you own, or planning to purchase the Cardano to diversify your crypto portfolio. But, do you know how to store Cardano? Obviously in wallets! But which is thebest Cardano wallet? Calm Down. Hold Your Breath! Just continue reading this guide.

Points To Remember Before Choosing The Best Cardano Wallet!

 

Whenever you select a wallet for your physical cash, you consider a few of the points before purchasing it. Similarly, to store your digital codes or private keys (associated with digital assets) or to choose the best wallet for Cardano, you need to look for the following:

 

  • Adaptability: Must be compatible with different Operating systems (macOS, Android etc.).
  • User Friendly: Must have a smooth and hassle-free user interface for a better experience.
  • Features: Multiple features must be available like backup on the cloud, two-way authentication etc.
  • Private Keys: Most importantly, the private keys of your coins must be in your control and not in the intermediary.
  • So!! Keep your eyes wide open and mindfully choose the best Cardano wallet according to your needs and following points mentioned above.

    Different Types of Crypto Wallets

     

    Now when we know that wallet is mandatory once you own the coins, you can't just keep the coins in your pockets (Oops!). As the crypto coins are associated with multiple uses, so to keep that in mind, different types of wallets are made accordingly:

     

    • Desktop Wallets: Hard Drives are used to store private keys.
    • Mobile Wallets: Handy way to store your addresses and private keys on your mobile.
    • Web Wallets: Facilitates online storage of keys which can be accessed with a user-set password.
    • Hardware wallets: Physical devices like pen drives are used to store the digital codes.
    • It is good news if you are holding the Cardano coins, as you can use any the wallet mentioned. Variety of wallets are available for Cardano in crypto space; you just need to decide which of the wallet best suits your needs.

      Top 8 Cardano Wallets in 2020

       

      Before reading about where to store Ada coins, you need to know how to store Cardano. The procedure depends on the kind of wallet you select to store your ada coins. If it is a hot or online wallet, you need to create the account and transfer your purchased coins into the wallet. On the contrary, if it is a cold or offline wallet, you simply need to set a user ID and secure password, after which you can save your private keys securely. So, let us don't waste time and know about the best Cardano wallet of 2020.

      Where To Store Cardano?

       

      If you had asked me to give the options of Cardano wallets two years back, it would have been difficult to answer. But in 2020, respond to- "where to store cardano", seems to be easy but surely you would think twice before choosing your Cardano wallet.

      • Ledger Nano S (Recommended Hardware Wallet)
      •  

        Ledger Nano S is one of the popular Cardano hardware wallets. Nano S facilitates the ADA users to store, buy and sell Cardano in a highly secured way. With a single platform, it supports almost 1000 crypto coins with a proprietary designed operating system to protect the assets. Ledger gives you the power to own and control your private keys.

        • Trezor Model T (Hardware Wallet)
        •  

          "Go offline and store your coins with Trezor" is what the tagline of the other renowned Cardano hardware wallet acclaims. Being handy, it attracts both the newbies and already existing traders in the crypto markets. The wallet brags as the highly secured one and is being audited by security researchers. With a convenient and intuitive interface, it can be chosen to store your Ada coins.

          • Daedalus Wallet (Desktop Wallet)
          •  

            Daedalus is famous as a Cardano desktop wallet which is available for Windows and macOS. It is an official open-source wallet of ADA cryptocurrency which has a simple set up process. Daedalus facilitates ADA users not only with hassle-free transactions but provides them payment history also. You are the king of your private keys while using Daedalus which are completely secured via advanced cryptography.

            • AdaLite (Web Wallet)
            •  

              AdaLite gives you the experience as you are using a Cardano hardware wallet. It is an open-source, client-side interface, compatible with hardware wallets like Trezor model T, Ledger Wallet S and Ledger Wallet X. This wallet was designed with a unique vision to protect the users from any cyber attack.

              • Atomic Wallet (Web Wallet)
              •  

                The single interface of Atomic Wallet can be downloaded on multiple operating systems like Windows, macOS, Ubuntu, Debian and Fedora supports around 300 coins. The wallet is encrypted strongly and provides a custody free solution guarantee to their users, thus safeguarding the tokens of the user in a highly secured manner.

                • Yoroi Wallet (Light Wallet)
                •  

                  Yoroi is the light wallet where only those who have your private keys can access your wallet. (Shh!! Don't disclose your private keys to anyone!). This wallet gives an advantage of not downloading or synchronizing with the blockchain, thereby after opening your account, you can right away send or receive the coins. The best feature of the official wallet of Cardano, Yoroi is that it is a self-hosted wallet, i.e. private keys are encrypted only on user's system (You need to take care of your system only!). The concern of security is raised only when you leak your keys!

                   

                  • Guarda Wallet (Light Wallet)
                  •  

                    Guarda is also a light wallet which is available as the Android version now. Along with Cardano, it stores around 45 coins with about 1000 tokens on its platform. It provides a variety of services for all its users including the ada coin holders, from receiving, sending, buying, staking to exchanging the currencies on a single interface. The built-in exchange service of wallets allows you to initiate the trading within the wallet itself.

                    • Infinito Wallet (Mobile Wallet)
                    •  

                      Infinito wallet can be accessed through the app available to both Android and iOS users. Infinito can be used to send, receive and exchange Cardano coins along with 2000+ coins and tokens. With accessibility in 8 languages, the wallet is updated regularly and provides high-level security to its ADA holders.

                      Thus, you can choose the best Cardano wallet from the mentioned list of different kinds of wallet in this guide. You might not have thousands of options, but for the currency which is launched in 2017 only, we still have enough options to store the coins. So, beware of the scammers and let the best wallet serve your needs.

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