If you are someone with vast knowledge on cryptocurrency and the digital market, you must have heard about the web3 wallet and its awesome wonders. This wallet has significantly set a new industry standard in creating diverse ways to not only own but also monetize our assets, identity and content.
With web3 wallets, you are able to use both software and hardware to access funds and interact with decentralized applications effortlessly. It also even serves as a gateway to financial services that are bankless, create on-chain identity, collect NFT’s and collaborate with communities.
Just like purses and wallets we use to store money and other valuables, these digital wallets store digital currencies securely.
Currently, there are several web3 wallet on the market that have been and are still making waves in the crypto space and they are quite easy to download and set up. Read to the end to find the one that’s suitable for you.
This web3 wallet has multiple platforms and it’s non –custodial. It allows you easily purchase well over 400 tokens and it also supports more than 60 blockchains. The guarda wallet is available as a goggle chrome extention, on the web, mobile phones (android and iOS), and desktop ( macOS, Windows and Linus).
On this wallet, tokens can be bought using SEPA transfer or better still, a bank card. You can also use prepaid visa cards to pay with crypto but this can only be gotten in the EU.
One mind-blowing thing about this web3 wallet is that its users can earn up to 20% in APY just by staking some assets in the wallet.
It also has a section for learning called the Guarda Academy. Here, users can learn all they need to know about blockchain, DeFi and crypto.
This wallet absolutely requires no KYC and users are allowed to swap crypto without giving out any personal information.
Trust wallet has been in existence for a very long time now and it’s a gaming wallet that gives access to thousands and thousands of cryptocurrencies and NFT’s hosted on diverse blockchains including Binance Chain and Ethereum.
Despite the fact that this amazing wallet offers a wide range of features, it doesn’t charge any wallet , dApp or swapping fees. It effortlessly allows staking and returns from earning held digital assets and it is totally non-custodial.
Currently, it doesn’t provide a web wallet or desktop for users. Moreover, several users have expressed concerns on cashing out their money but there wasn’t any documentation provided alongside the wallet itself.
One of its major setbacks is it doesn’t provide 2FA thus, if someone intrudes your account, you won’t be able to stop their access as you can’t set up any confirmation code. It is safe to know that the trust wallet has been termed a “hot-wallet”. What this means is that it may be vulnerable to hacks.
This is one of the most popular wallets currently used in web 3. It has over 21 million active users, it is user friendly and easily allows an interaction with the blockchain during account backup with a seed phrase.
More so, this web 3 wallet lets users directly purchase ERC-20 tokens from the application itself and gives them total control of their private key. Therefore, it is also non-custodial.
It supports trading on several custom chains including layer two solutions like Polygon and Binance Smart Chain. Also, due to how popular the metamask is, it can connect to apps that are decentralized.
However, since this web3 wallet is an online wallet, there is a high risk of it being hacked compared to cold wallets. Yes! this wallet doesn’t track your information at all but the browser being used to access it could collect user data about how much you interact with the metamask extention and this could compromise your privacy.
Another self-custody wallet that keeps making waves in the crypto space is the coinbase wallet. It offers access to a wide variety of DApps and tokens, allowing to store your NFT’s in a place.
This web3 wallet also offers easy access to decentralized finance and it also provides users the ability to link their Ethereum tokens to many DeFi projects. Users also get to partake in online airdrops that are legitimate, which totally increases their chances of acquiring free crypto coins.
The DeFi liquidity pools available allows users borrow and swaps accents on decentralized exchanges. The wallet supports ICO’s so users have access to new coins at the best price. This isn’t all as the coinbase wallet also lets users become members of DAO. This means they can participate in huge web 3 projects.
Obviously, coinbase wallet is keen on securing users privacy so it not only stores the private keys locally, it also employs 2FA. It uses a 4 digit security pin to aid users unlock the wallet and make transactions.
This mobile-first web3 wallet is quite popular in the online space. It is an investing tool that allows anyone manage their NFT and DeFi portfolios without any hassle. One of its features that enables it stand out is its ability to allow users connect to wallets that are non-zerion including Ledger hardware wallets. This feature is not something you find anywhere so it’s a wallet that’s a must-have.
Zerion wallet has a bridging and trading aggregator across every major blockchain and it also helps users find sweet deals across all their devices whether it is an web app, iPad app or a mobile app.
Another mind-blowing feature is its social feature. This allows users follow other people’s wallets, track their favorite assets and receive push notifications on NFT drops.
Subsequently, Zerion also shares a lot of tools to help other builders. It’s Websocket API allows developers to integrate the whole DeFI into their applications without the hassle of running their node infrastructure. It is also very safe and secure.
You can pick any from the web3 wallets above as they are quite popular and reliable. However, never forget to regularly back the wallet data file and seed phrase to prevent loading access.
Related: How A DeFi Web3 Wallet Is Created