Cardano is a blockchain that hosts decentralized applications and smart contracts. Cardano as a blockchain is respected for its continued to the providence of security, sustainability, and scalability in the crypto market. It also uses ADA as its native token, which users can use in sending and receiving digital funds.
For secure exchange and storage of ADA coins, you need a reliable wallet. In addition, avoid storing your assets on cryptocurrency platforms because of the rampant insecurity. Unfortunately, many users have reported loss of assets worth millions left on the platforms.
If you have recently bought Cardano and are unsure where to store your ADA coins safely, come with us as we discuss the top wallets that support ADA.
Types of Cardano Wallets
Best ADA wallets come in two types, hardware, and software.
- Hardware Wallets
A hardware wallet is a crypto wallet that stores the private keys in a hardware device. The private keys authorize transactions. Additionally, hardware wallets are durable and suitable for people with large amounts of ADA coins because they are secure from online hacking.
- Software Wallets
Software wallets allow you to store your assets online and are most reliable for regular transactions. However, their security and reliability depend on the platform.
Software wallets are suitable for storing small amounts and are best for users who make multiple transactions a day.
Best Crypto Wallets That Support ADA
Ledger Nano X
Ledger Nano X is the latest and most advanced hardware wallet for your ADA coins. It is a product of Ledger SAS Company, designed to offer security solutions for digital coins like ADA, and they achieved their goal. Consequently, all your private keys are securely stored online with this wallet, giving you maximum anonymity and privacy.
Pros
- Top-notch security
- It comes in a comfortable design
- You can operate it from your phone
- Supports more than 1500 cryptocurrencies
Cons
- Expensive
Trezor Model T
Trezor Model T is an improvement of the previous Trezor hardware wallet. The device has a touchscreen to navigate, which is an improvement of the old model. To authorize transactions, you should enter your private keys. Also, they provide you with 12 digit backup passphrases for added security in case your device is lost or stolen.
Pros
- Touch screen for easy navigation
- Easy to install and set up
- It is very secure
Cons
- It is bulky
- Costly
Binance
Binance is a software wallet that supports ADA and allows trading for more than 150 cryptocurrencies. Additionally, it is compatible with Web, iOS, Android, and PC. What’s more, it offers you an API to integrate with your trading application.
Pros
- It is very secure
- Offers basic and advanced exchange interfaces
- Easy to use
Cons
A small number of supported cryptocurrencies
Atomic wallet
Atomic is another software wallet, and you can use it for both storage and buying, selling, and trading of cryptocurrencies. It was created in 2017 by Konstantin Gladych and supports more than 300 cryptocurrencies. Moreover, this wallet is easy to use as it only requires you to download the application, create an account and transfer your ADA coins.
Pros
- Easy to use
- Secure
- 24/7 customer support
Cons
- Not as secure as hardware wallets
Which Is the Best Wallet for ADA
The best Cardano wallet for you depends on your personal trading needs. To make the best choice, consider security, accessibility, and the number of supported cryptocurrencies.