The First thing that comes into your mind after buying some IOTA is where to store it. There are several IOTA Wallets to store your crypto safe and sound. Today we’ll be talking about some of the top IOTA Wallets you could use to store your crypto.
IOTA makes you self-distributed ledgers. IOTA uses a specialized technology that is known as tangle. Tangle is based on Directed Acyclic Graphs which separates IOTA from every crypto as it ensures the removal of miners.
Another advantage of using IOTA is that it is completely free to use. Talking of its uses there are some of the Best IOTA Wallets to store your IOTA.
List of 6 Best IOTA wallets
IOTA Wallet Ledger (Ledger Nano S)
Whenever we talk about cryptocurrency keeping wallets like IOTA Wallets, Most of us think that these wallets are only virtual forms and there is no physical existence. There are some companies that offer these wallets in actual hardware form.
The hardware form is the most secure and protected form. In hardware form, you have full control over everything, unlike virtual wallets where there is very little risk. In hardware wallets, there is no risk of hacking as you have full control of it.
The Ledger Nano S is the best platform to store your IOTA. It is reviewed by many experts and it is rated the best IOTA hardware wallet.
The Ledger Nano S has many options for connectivity. You can connect it easily to your PC, Android, and Apple devices. It has a series of security checks to ensure the maximum amount of protection to your IOTA. It comprises of a 4-digit pin and a 20-word phrase security check in order to get access to your IOTA. Not only it stores IOTA, but it also stores your other cryptocurrencies like Bitcoin, Litecoin, Ripple, etc.
If you’re looking to buy some IOTA, Ledger Nano S is the best IOTA hardware wallet to keep them.
Trinity wallet is one of the best IOTA wallets available for any cryptocurrency. It is the user-friendly IOTA wallet and claims that the security of funds is its first priority. Both beginners and advance users can manage their wallet easily and use to send, receive, and keep IOTA in their wallet.
Unlike Ledger Nano S, Trinity only supports IOTA which means you cannot store any other crypto-currency except IOTA, but its users can compare the real-time prices of IOTA and other crypto-currencies. The users protect their seeds by encrypting them with passwords and Two-factor authentication.
The organization that launches the IOTA wallet, design the wallet by keeping in mind all the primary needs of cryptocurrency users. For the ease of its users, the wallet is available in multiple languages. This may prove as a gateway to congregate people from different geographical areas at one platform.
There are a limited number of IOTA wallets available on which you can trust to keep your IOTA cryptocurrency. Nostalgia is one of the best IOTA wallets that make your crypto transactions secure. It is recommended to use this wallet on your Google chrome and as a desktop wallet, it is well-suited with Windows, Mac, and Linux.
Unlike the GUI wallet, it is a bit difficult to use and beginners need help to use its features. The Nostalgia web wallet is not so popular and not many people use it because of its complexity of user interface.
The full process is explained in this IOTA tutorial, but it’s likely to be too complicated for tech novices, who may want to explore other options. Therefore, if you are new to the crypto wallet and searching for wallets to keep your IOTA secure, choose the GUI wallet instead of using a nostalgia wallet.
GUI wallet is basically designed to send, receive, and keep your Monero, which is a decentralized and an open-source currency. Its unique feature is its security, which gives the users complete hold of his wallet. If any GUI wallet holder makes transactions from his account, it will not show the personal information (source, amount, or destination) of the user to anyone else.
GUI wallet provides you a private key which consists of approximately 25 words and you can use it to make a transaction you want. Do not share your GUI wallet key with anyone otherwise he or she can spend your money.
GUI light wallet has put efforts to improve many of its outdated features like its simplicity, irritating things like tangle re-attachment, snapshot transitions to ensure the ease of use for beginners. Its minimalistic UI is also helpful for those who are new in this field. As a result, it is the best IOTA web wallet for users with zero experience.
Users have to create their own seeds, most of the users use a seed generator for that task which in my opinion is not good, because the site from where you generate your seed has the record of your seed which can in future lead to security problems.
If you’re dabbling in crypto, chances are that you own different types of crypto-currencies. In such cases, you have to search for a wallet that can manage all your cryptos. Probably, Guarda is the best option in that scenario.
Guarda IOTA Wallet not only stores major cryptocurrencies like Bitcoin, Ethereum, or Ripple, but also supports some popular outliers like Monero, Tron, Stellar, and of course, IOTA.
Talking of its security system, Guarda avoids pitfalls like data interception by hackers etc…by storing private information in the secure storage of the respective device and wiping it out clean on every logout.
Guarda gives you the ability to shuffle around your crypto savings with ease which is a prime reason for its recommendation by experienced users.
As a result, if you have more than one type of crypto-currencies and you are looking for a place to keep them and manage your transactions safe and sound, Guarda is the best wallet in that case
Coinbase (Exchange Wallet)
Coinbase wallet is considered one of the largest cryptocurrency exchanges that give you an opportunity to buy, store, and sell cryptocurrencies like Bitcoin, Ethereum, Litecoin, etc. You can connect to the Coinbase wallet by installing its android application or by web platform.
If you are using this wallet on your Smartphone, you can secure your wallet private keys by your own fingerprints as a security key. In this way, no one can steal or hack your wallet keys.
Coinbase Wallet is a good option to send, store, or receive payment on your mobile crypto wallet and it won’t cost you anything. Precisely, Coinbase Wallet is a great product that is probably going to get better as more tokens and coins are being supported by it. It is considered as safe as any other software wallet and is also very easy to use.
To name a single wallet as a de-facto winner would be foolish. Every wallet listed above is useful in its own way of providing services.
Some are for users with experience and some are for newbies. If you’re willing to use any of the wallets, first you must consider your need for which you’re buying that particular wallet. Use the wallet which best meets your needs.
If you would like to add more to the IOTA wallet list do comment in the comment box below. Your feedback will be appreciated and we will respond to it accordingly.