The 4 Best Wallets For Your First NFT in 2022
Individuals looking to enter the fast-growing NFT market will need a crypto/NFT wallet to participate. Don’t know what an NFT is? You’ll want to start by reading our Introduction to Non-Fungible Tokens (NFTs) article.
But first, what is a crypto wallet?
A cryptocurrency wallet is either an application (digital/hot wallet) or physical device (hardware/cold wallet) that allows you to track, send and receive digital assets, like NFTs and other cryptocurrencies, through the blockchain. Just like you need a wallet to protect your cash and credit cards, you should also know where you’re going to store your digital assets.
Features to look out for when choosing a wallet
- Cross-chain support: a NFT wallet that supports various blockchains will allow fluid interoperability between different blockchains and give users access to as many kinds of NFTs as possible
- Multi-device support: the ability to access a wallet on your mobile device, tablet, or desktop is essential for convenience
- Compatibility: the wallet should be supported by the NFT marketplaces and platforms you want to buy, sell, and trade NFTs on
- Simple user interface: the easier a NFT wallet is to use, the easier it will be to adopt, learn, so you can quickly use it to buy and sell NFTs
- Security: the wallet should be secure to prevent someone from hacking it (e.g. multi-factor authentication)
Below, we’ll walk you through our 4 recommended wallets to get you started:
Prior to 2020, it would have been difficult to recommend MetaMask for serious NFT investors, as it only existed as a Chrome extension. Today, however, it is arguably the most popular NFT wallet due to the release of their dedicated mobile applications. The app is simple to install, easy to use, and a great platform for both beginners and seasoned crypto investors.
Our partners at Cybavo, known for industry leading cybersecurity and enterprise custody solutions, have added NFT support to their existing wallet. As we’ll discuss later, security is important for anyone joining the NFT market, making Cybavo an easy wallet to recommend.
Trust Wallet is an excellent crypto wallet for those that want to store any NFT investments they have made – as well as those want one-click access to dApps such as OpenSea and Axie Infinity. While the user interface leaves a bit to be desired, it gets the job done due to its speed and security.
While Trust Wallet is mobile only, it supports multiple different cryptocurrencies (not just Ethereum), making it more flexible and adaptable for users interested in other cryptocurrencies.
A favorite among NFT users is AlphaWallet because of it’s open-source infrastructure and ability to connect directly to dApps. Built to work with multiple blockchains, it is a barebones but simple to use option to create a wallet quickly.
How to avoid unforeseen NFT risks
With some NFTs already selling for north of $50 million dollars, understanding risk is imperative to joining the market. We implore you to thoroughly research how to keep your assets safe but we recommend the following tips:
- Only download trusted applications
- Do not share your private keys
- Do not use public computers to engage in NFT activity
Much like cryptocurrencies since 2008, we are certainly in the early days of the NFT creating and collecting era. There are already some incredible tools and gateways developed to help people effortlessly join the movement while removing some of the technical intimidation. You really can’t go wrong with any of the NFT wallets we recommended above. They provide quick and easy access to your assets as well as security to protect them.
For further reading on NFTs, check out our articles on the Evolving Landscape of NFT Utility and Applications and the 5 Common Misconceptions about NFTs.