Blog NFTs Finding the Top NFT wallets in 2022

Finding the Top NFT wallets in 2022

date May 30, 2022 time 6 min read 602 views

For most retail investors, major platforms like Binance or Coinbase are all they need to satisfy their NFT trading needs, but for the more adventurous and technically savvy, there’s a whole world of on-chain trading awaiting them. On-chain trading, or interacting with the blockchain directly, is how many NFT traders invest in new projects early to generate outsized returns.

Regardless of your particular interest in the space, general-purpose crypto wallets, like MetaMask for example, are what you will need to access the blockchain when starting out. However, they typically aren’t the best for NFT trading which led to the rise of NFT wallets that are specifically optimized for this rising segment of crypto.

Introducing NFT wallets

What’s a crypto wallet?

To understand how an NFT wallet is different from a crypto wallet, you need to know what a crypto wallet does. Unlike a regular wallet, a crypto wallet doesn’t technically hold any crypto and the same also applies for NFTs. The holdings of any wallet only exist as records on the blockchain and so deleting a crypto wallet from your computer or phone does not affect your crypto/NFTs at all.wallet

What a crypto wallet actually does is provide easy access to the private key of a particular wallet address on the blockchain. That wallet address is what your crypto holdings are actually tied to, and it can only be controlled by the private key. So naturally, people are protective of their private key because losing control of it likely means the loss of everything in the wallet address.

By providing easy access to the private key, crypto wallets also improve usability and streamline interactions with the blockchain for regular usage. They are like “themes” that can be swapped in and out or even used simultaneously. Some have specialized features that make the user experience smoother, and there are many options to choose from.

MetaMask

MetaMask is currently the most popular and widely-supported crypto wallet with over 30 million users, and there are no signs of user growth slowing down. As it is likely the first crypto wallet for many people, they tend to stick to what they are familiar with and continue to use it for NFT trading. That said, MetaMask is likely the least optimized for NFT traders out of the ones covered in this article.

MetaMask is one of the best-known NFT wallets. (Source: Chrome Web Store)

Pros:

  • Familiar user experience, accessible on both desktop and mobile
  • Supported by the vast majority of crypto platforms
  • Can buy ether directly to start trading with many payment options

Cons:

  • Doesn’t show NFTs’ pictures and info inside the wallet
  • No recovery option, relies solely on users’ discretion to protect their holdings
  • Limited to just Ethereum and other EVM-compatible blockchains

TrustWallet

Arguably the Pepsi to MetaMask’s Coke, TrustWallet is the second most popular crypto wallet on the market with over 10 million users monthly. It shares some of MetaMask’s strengths while also improving on its weaknesses in terms of NFT. TrustWallet supports NFTs from popular collections on Ethereum and BNB Chain (formerly known as Binance Smart Chain), which are two of the most popular blockchains for NFT trading activities.

TrustWallet – the Pepsi to MetaMask’s Coca Cola. (Source: TrustWallet)

Pros:

  • Widely supported by other crypto platforms
  • NFTs are neatly organized with clear info inside the wallet
  • Can buy ether and many other major cryptos directly 

Cons:

  • Only available on mobile, currently no desktop version
  • No recovery option, relies solely on users’ discretion to protect their holdings
  • Doesn’t support hardware wallets, which provide added security

Argent

Unlike MetaMask and TrustWallet, Argent’s approach might possibly be the most user-friendly and secure. Should you ever find yourself locked out of your wallet or have it compromised (a rather common occurrence in crypto), the Guardian feature will come to the rescue. You can choose people you trust to act as Guardians, and they can help you regain access to your wallet as well as block out malicious actors.

Argent is regarded as one of the more user-friendly NFT wallets. (Source: Argent)

Pros:

  • Top-notch security features (2FA, biometric support, and Guardians)
  • Low transaction fees on Ethereum through zkSync
  • Support Ethereum-based crypto trading and staking inside the app

Cons:

  • Only available on mobile, currently no desktop version
  • Limited to just Ethereum and zkSync (one of the several Layer 2 scaling solutions for Ethereum)
  • Not as widely supported by other crypto platforms

Rabby

Rabby took it a step further with seamless multi-chain support and aggregation of crypto holdings on various blockchains and platforms, eliminating the need to manually switch between them. Similar to Argent, one of its highlights is added security. When interacting with a crypto project, whether it be Defi or NFT, you can scan it for malicious code and revoke any smart contract approvals that might put your cryptos at risk.

Rabby places great emphasis on security. (Source: Chrome Web Store)

Pros:

  • Seamless multi-chain support with clear organization 
  • Simplifying smart contracts interactions (namely signing and managing approvals) 
  • Support hardware wallets for added security

Cons:

  • Only available on desktop as a browser extension
  • Limited to just Ethereum and other EVM-compatible blockchains
  • No option to buy crypto with traditional payment methods inside the wallet

Enjin Wallet

If you’ve ever thought about creating your own NFTs, the Enjin wallet could be for you as it is possibly the best wallet for NFT creation. You can use it along with their platform to experiment with creating NFTs without having to write a single line of code. Besides creating your own NFTs, Enjin is also best known for its gaming-related NFT marketplace.

Unsure about using code? Then Enjin could be your solution. (Source: Enjin)

Pros:

  • Simple, no-code NFT creation and monetization
  • Integrated NFT ecosystem and free tooling for creators
  • Support hardware wallets for added security

Cons:

  • Only available on mobile devices
  • Limited to just Ethereum and JumpNet (its own EVM scaling solution)
  • No option to buy crypto with traditional payment methods inside the wallet

In Summary

You’ll find that all crypto wallets have overlapping feature sets with different use cases and implementations. They can all technically serve as “NFT wallets” as long as they can interact with the blockchain of your choosing.

The most popular blockchain currently is Ethereum which explains why all of the wallets mentioned above support at least Ethereum and EVM-compatible chains. But naturally, there are other niche blockchains that also have their own NFT ecosystems and wallets (like Solana, Cardano, Cosmos, and Tezos to name a few). 

Crypto wallets can exist as just software, the most popular form being a browser extension like MetaMask, or hardware, physical devices like Ledger and Trezor. Sometimes, they can even work together for added flexibility and security (e.g. connecting Ledger or Trezor to software wallets that support them like MetaMask), giving users the best of both worlds.  

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George Schooling

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