People have become more curious about non-fungible tokens (NFTs) since they became available in 2021. In 2020, NFTs were already well known, but the concept gained attention after a digital artist sold his digital art piece for $69 million. This event helped NFT sales reach $2.5 billion in the first half of 2021, only $13.7 million in the first half of 2020.
In keeping up to date with the latest business trends and opportunities, understanding how NFTs work and how they can help a business grow is worth looking into. With that, discovering which NFT wallets offer the best features and options in managing and selling NFTs is a definite plus for those looking at this type of cryptocurrency as an investment.
By the end of this article, you’ll understand what NFTs are, their potential in today’s market, and of course, the best NFT wallets to use in buying and selling this new form of cryptocurrency.
Let’s get to the details of the top NFT wallets worth trying in 2022.
What Is An NFT?
NFTs are digital assets and collectibles that can be traded and sold in the same way real-world collectibles are. The difference is that these digital collectibles are unique and can be tracked, verified, and stored on the blockchain.
Each NFT is unique and cannot be copied. This means there will never be another version of the same NFT, making them extremely valuable. When a person buys an NFT, it is unlike a traditional cryptocurrency or a digital coin stored on a blockchain.
Instead, it is a unique item that has a unique identity. You can use it to purchase something or sell it for a profit. If you’re looking to invest in NFTs, the best place to start is by using an NFT wallet. NFT wallets are digital wallets where NFTs are stored and managed.
- What Is An NFT?
- What Are The Best NFT Wallets In 2022?
- 1. Coinbase – Top Pick
- 2. Kukai – Best Open-Source NFT Management
- 3. Trust Wallet – Best For Beginners
- 4. Enjin – Best For NFT-Based Gaming
- 5. Math Wallet – Best For Reliability
- 6. Metamask – Best For Anonymity
- 7. Coinomi – Best In Customer Service
- 8. XDeFi – Best For Viewing Your Collection
- NFT Wallet Features To Keep In Mind
- Key Takeaway
What Are The Best NFT Wallets In 2022?
These are my top three recommendations for NFT wallets in 2022: Coinbase, Kukai, and Trust Wallet.
|Best overall. Convenient for transferring tokens. Offers Enhanced security with FDIC-secure accounts.||Best for flexibility. Open-source wallet with a highly intuitive interface for easy management.||Best for starters. Offers multi-coin support with an easy method for credit card exchanges.|
|Try Coinbase||Try Kukai||Try Trust Wallet|
1. Coinbase – Top Pick
Best Non-Fungible Tokens Wallet For NFT Portfolio Management
Coinbase allows users to trade, sell, and manage their NFTs. It also offers great features in managing your portfolio with a high level of security and accessibility. With the vast majority of digital assets stored offline and with Coinbases’s insurance-protected practices, users can rest assured all digital assets in this wallet are secure from external threats.
Those looking to jump into the scene will also like how easy it is to set up an account and start the buying or selling process. Coinbase also offers options for a business account or individual account, making it a great platform for larger portfolio management.
Notable Features Of Coinbase Wallet
- Management: This allows users to store and manage all their NFTs in one place.
- NFT marketplace access: You can explore DApp and the NFT marketplace right from your browser or phone.
- Asset protection: Uses high-end security to protect digital assets.
- User control: As a self-custody wallet, it allows complete control of your crypto.
Pros And Cons Of Coinbase Wallet
|Uses two-factor authentication to protect user control||Does not support Bitcoin storage|
|Provides advanced capabilities and restricted access features for NFTs and other digital financial instruments||Stores private keys elsewhere|
|Completely backed by a reputable name in the crypto market, Coinbase|
Coinbase Pricing And Fees
Coinbase is available for Apple and Android on their respective app stores for free. When using Coinbase, users will have to pay transaction fees based on the mode of payment, amount, and location.
These fees can range from 0.05% to 0.60%, depending on the pricing tier. Location and mode of payment fees are also added to come up with the final price. Additionally, users will experience a Miner Fee, which is set in place to ensure a smooth experience and reasonable transaction times.
2. Kukai – Best Open-Source NFT Management
Best NFT Wallet For Its Easy-to-use Search Software Interface And Security
Kukai is an open-source wallet completely decentralized and powered by Tezos blockchain technology. It provides an easy-to-use interface for beginner and advanced users alike.
The wallet is designed to be a safe and secure way to store and manage NFTs. It is fully open-source and has been built by a team of developers who are committed to providing the highest level of security. The wallet has a reputation for being incredibly secure, making it the perfect choice for users looking to invest in NFTs.
Notable Features Of Kukai
- Security: Safe and secure platform for users to buy and sell NFTs
- Importing: Makes it easy for users to import from other standard wallet formats
- Storage: Allows users to connect to the Ledger, which has cost-effective storage for all NFT requirements
Pros And Cons Of Kukai
|Includes features that allow users to send manage, and receive NFTs||Some users report an error in the account display|
|Works on any device with a stable internet connection|
|Allows easy access to social media accounts|
Kukai Pricing And Fees
Perhaps what makes this NFT wallet stand out is that it has no hidden transaction fees or charges to worry about. This means that the only charges you’ll see computed are that of the rates based on your method of pay and location.
3. Trust Wallet – Best For Beginners
Best NFT Wallet For Investing And Trading Digital Assets
Trust Wallet is owned by Binance, a cryptocurrency exchange that has great features for investment and trading. The main pull of Trust Wallet is its list of decentralized apps that art markets can gain easy access to, such as OpenSea or Axie.
Trust Wallet also has a DApp browser, making it easy for beginners to access NFT applications like PixelChain and NFT Go. As the wallet updates, users can expect blockchain integration available down the line for a more seamless experience.
Notable Features Of Trust Wallet
- Easy set-up: It only takes three easy steps to start buying, managing, and storing NFTs
- Purchase crypto: Cryptocurrencies can be bought with a credit card
- No personal information: Users don’t need to submit selfies for identification or verification. No forms or selfies
- Anonymity: Does not collect any personal information, making it easier to stay in control of your wallet
Pros And Cons Of Trust Wallet
|Optimal storage option for NFTs and other digital assets.||Only available on mobile devices|
|Smooth and easy-to-navigate user interface|
|Supports multiple blockchains|
|HD displays of NFTs|
Trust Wallet Pricing And Fees
In terms of its pricing and fees, Trust Wallet is free to download on mobile devices. They also do not charge any wallet fees, DApp fees, or blockchain network fees. This, however, does not mean there are no blockchain transaction fees.
4. Enjin – Best For NFT-Based Gaming
Makes It Easy For Users To Send NFTs Via QR Codes
Enjin is the perfect NFT Wallet for those who are into NFT-based gaming. A great feature that Enjin has is its own token, the $ENJ. The ENJ token allows users to collect in-game NFTs easily while also having a marketplace within its ecosystem to trade digital assets with the ENJ token.
Users will also appreciate the easy-to-navigate UI and the fingerprint scanning security feature that add extra protection to your digital assets. Enjin also makes it easy for users to import their old wallets to keep track of hardware wallets in one location.
Notable Features Of Enjin
- Simple UE: Easily distribute and integrate NFTs using a simple interface
- Seamless sending: Send NFTs via QR codes right on the Enjin platform
- Viewability: The mobile wallet make it simple to manage and store collected NFTs
- Explore NFTs: Explore the marketplace to discover more rare collectibles and trade them within the ecosystem
Pros And Cons Of Enjin
|Great user interface for ease of navigation and use||Only available on mobile devices|
|Has its own in-app marketplace to trade digital assets||Only supports Ethereum-based tokens|
|High level of customer support|
|Works as a DeFi wallet and crypto wallet|
Enjin Prices And Fees
Enjin is available on app stores for Apple and Android users. Those using Enjin Wallet are charged trading fees in Enjin Coins (ENJ), which are set up in the asset minting process and used with each item or transfer of assets.
5. Math Wallet – Best For Reliability
NFT Wallet With Backing From Large Investors In The Industry
For users looking to become part of a highly secure NFT wallet backed by huge investors, Math Wallet is the way to go. The ability to use it on mobile, desktop, extension, and hardware makes it a multiplatform wallet that is convenient for storing and managing digital assets like NFTs.
Adding to its use, Math Wallet users also have access to some of the best DApps in the browser extension like Unisap, NFT Stats, and NFTGO. This makes it easy to trade, buy, sell, or sway your NFTs by connecting your wallet with your respective DApp.
Notable Features Of Math Wallet
- Integration: Works with hardware wallets such as Ledger and is easy to connect
- Earn even offline: Has staking options available through MathVault
- Wide support: Allows exchange with Ethereum, Filecoin, Pollups, and more
- User benefits: Has MATH Tokens that offer up rewards to users
Pros And Cons Of Math Wallet
|Easy to access DApp stores||Still in the development stage may be unstable at times|
|Provides enhanced security||The user interface is not as seamless as other options|
|Supports more than 65 public blockchains||New features are still being added|
|Has swap feature for exchanging cryptocurrencies|
Math Wallet Prices And Fees
In terms of fees, Math Wallet’s team is comprised of technical and operational experts, making their focus on reducing and lowering transaction fees to make them more affordable for regular users. Users can only expect to pay blockchain fees when using DApps or sending a transaction.
6. Metamask – Best For Anonymity
Retains Anonymity Of Its User Accounts And Transactions In The NFT Wallet
What makes Metamask appealing is its ability to send and receive cryptocurrencies and NFTs anonymously through a secure setting and interact with the Ethereum blockchain through a browser such as Chrome. Users will also appreciate that it can be used for free without providing any personally identifiable information such as an address, name, or social security number.
To ensure higher levels of security, Metamask works as a non-custodial wallet wherein data is NOT stored on a central database, nor does it collect user information from wallet users. The wallet can only be accessed through a user’s password or a 12-word seed phrase.
Notable Features of Metamask
- Great security: High levels of user protection and security
- Seamless connection: Allows users to connect to DApp marketplaces such as OpenSea
- Easy set-up: Users can use MetaMask wallet quickly once their account is set up
- Accessibility: Has usability on desktop and mobile for a seamless experience
- Great for all levels: It’s simple to use for both beginner and advanced users
Pros And Cons Of Metamask
|Lets you create multiple wallets in one app||No password reset option. You’ll need to remember your 12-word seed phrase|
|Easy to set up and start using without the need for personal identifiable information||Customer and technical support takes time to reach|
|Supports all ERC-20 tokens, NFTs, and tons of other blockchains||Does not support Bitcoin|
Metamask Prices And Fees
While Metamask is free to download on Apple and Android mobile app stores, users will need to pay gas fees based on the blockchain they are transacting in. The service fee ranges from 0.3% to 0.87% regardless of swap.
Additionally, when buying crypto, users should be ready to pay a processing fee on top of the market rate set for gas.
Furthermore, switching ETH addresses or transferring ERC-721 tokens directly into the MetaMask App is easy. Last but not least, the app allows users to swap ETH tokens.
7. Coinomi – Best In Customer Service
Best NFT Wallet Support With Quick Resolution Times
Aside from buying and selling NFTs, making sure your chosen wallet offers up great features for managing and storing is also essential. In this regard, Coinomi offers everything in one platform. New users can also appreciate the live service agents that readily reply should an issue or question arise.
Users can also note features such as staking to generate passive income and the built-in exchange for converting one cryptocurrency to another form of digital assets.
Notable Features Of Coinomi
- Well-established: One of the oldest wallets that allow it to offer up strict security features
- Non-custodial: Data is not stored in a central database
- All-in-one: Allows users to buy, sell, swap, and exchange all in one place
- Easy payment: Uses a simplified payment verification for easy transactions
Pros And Cons Of Coinomi
|Has a straightforward interface that new and advanced users can customize||Does not support 2-factor authentication|
|Has multilingual features with advanced security and consistent support||Closed source NFT wallet.|
|Supports 1,770 crypto-assets across 125 blockchains|
Coinomi Prices And Fees
Coinomi is free to use and download in terms of fees and pricing. Receiving coins is free as the sender will shoulder the cost. With that said, senders must pay a network fee based on standard industry rates paid to the coin miners, not Coinomi.
8. XDeFi – Best For Viewing Your Collection
NFT Wallet With Organized Displays Of Digital Assets In An Easy To Understand Layout
For those looking for a high-quality NFT wallet to store, manage, and view their NFT collection. XDeFi takes the prize. Like other wallets, users can also buy, sell, exchange, and manage NFT assets on the app. What makes XDeFi worth a try is how it perfectly displays NFTs from all chains through an Instagram-style gallery format.
Notable Features Of XDeFi
- Cross-chain wallet: This allows users to manage digital assets from different blockchains in one place.
- Varied support: Currently supports Ethereum, Bitcoin, Polygon, and Binance Smart Chain
- Simple backup: Backup secret phrases using JSON and a few simple steps
- Self-custodial: High-security level protected by seed phrase
Pros And Cons Of XDeFi
|Users can access native DeFi features for more control of digital assets like NFTs||Does not currently support Avalanche, Solana, Polkadot, and Near|
|Has multilingual features with advanced security and consistent support||Only available as a web extension with mobile and web app coming soon|
|Simplifies the process of managing and viewing NFT collection|
NFT Wallet Features To Keep In Mind
Each NFT wallet has its own set of notable features, pros and cons to consider before you jump in and make it your go-to platform. Keep in mind that NFT wallets are not the same as cryptocurrency wallets.
A cryptocurrency wallet store coins all having the same value, such as Ethereum and bitcoin. On the other hand, an NFT wallet works by storing collectible or unique items that cannot be exchanged for one another.
Think of cryptocurrency as the dollar you can use to purchase goods and services. NFTs are the products you buy. They hold a specific value to them. Similar to artists selling a painting for $1 million, instead, the value of the NFT is in cryptocurrencies.
Here is a simple list to have in mind to guide you in choosing the best wallet.
I. Security And Anonymity
The first thing NFT wallet users should consider is the level of security and anonymity it offers. The main feature of an NFT wallet needs to prioritize anonymity in dealing with digital assets. Since transactions on a blockchain are traced to the source, anonymous transaction features to ensure that hackers do not target the parties involved.
II. Exchange Compatibility
If you make a purchase using cryptocurrency, you will want to ensure that the platform you use has built-in exchange functionality. A wallet that doesn’t support exchange will be useless to you. Most crypto wallets include an exchange function. There is no need to search for a third-party exchange when the wallet does it for you.
There are two types of exchanges: centralized exchanges and decentralized exchanges. Both are useful depending on your preference for anonymity and security. If you are new to crypto and want to make your first purchase, it is advisable to avoid a decentralized exchange because it is much safer.
Accessibility refers to how easily you can access your NFTs and how easy it is for you to store, manage, buy, or sell them. The right wallet will grant you access to your account based on your most used style, such as through a web browser or mobile application.
If you want to be accessible whenever you use the internet, you should get a wallet that allows you to connect to the internet through different devices. With that, the wallet chosen should have a mobile version available. If you want to store your NFTS offline, you should invest in a hardware wallet. Hardware wallets provide safe storage for your NFTS.
IV. User Experience
The user experience is the degree of ease or difficulty that a user experiences while using the application. It includes various aspects like ease of navigation, user interface, and user feedback. A wallet with excellent user experience and crypto exchange capabilities makes it easy to find what you are looking for and enables a smoother process of conducting tasks.
Additionally, user experience extends to the level of customer and technical support the wallet’s tea can provide. Some wallets have fast response times to customer queries, while others may take more time to see responses.
A reliable NFT wallet provider to manage and store digital assets simplifies trading and selling. Those in the consideration phase of choosing the right wallet can benefit from research into each wallet’s features, pros, and cons.
Depending on your specific goal, several NFT wallet providers deliver different features, all catered to meet the need of users. For those looking at a high level of security and accessibility, opt for choices such as Coinbase, Math Wallet, or Trust Wallet. Each of these works well in ease of set-up too.
On the other hand, trying out options such as MetaMask, Kukai, and Enjin offer up excellent user experience that beginners can appreciate. These three options also allow you to explore the DApp world and the unique digital assets offered.
No matter the final choice you make for an NFT wallet, closely monitor the market and apply that to the features a wallet offers. By combining market awareness and wallet features, you can make the most out of your digital assets to turn a profit and increase the value of your collection.
For those looking into more clever ways to invest, visit us at Novum. You’ll find tons of valuable information regarding the latest business trends and investor knowledge.