I think you will agree with me when I say:
We’ve seen enough of Ethereum killers, but Ethereum still survives to date.
But will that also be the case after five years?
Well, I do not have the crystal ball to tell it, but having said that, I do not mean that we do not want Ethereum by that time.
What I mean is that we will see some more so-called Ethereum killers by that time, and few of them would have even taken over Ethereum. (probably)
But let’s pause:
Because such an Ethereum killer exists in the cryptosphere right now and it’s called – Cardano (ADA). Therefore, it is on my list of cryptocurrencies that will survive for the next 5 years.
For those of you who do not know Cardano, it is a blockchain 3.0 platform for hosting smart contracts and DApps that promises to be more scalable, controllable and interoperable than Ethereum.
I certainly do not want to talk more about Cardano now because many of you already own it and have come here to know about some of the best Cardano wallets to store your ADA.
This was also expected because the Cardano community for a while has longed for a more convenient way to interact with the Cardano blockchain.
Best wallet for Cardano (ADA) Crypto in 2021
So let’s get to that business:
You bought your first Cardano; well! Not sure where to store your Cardano (ADA) coins safely and securely?
Check out this dedicated list best crypto wallet for ADA:
- Ledger Nano X– [best Cardano wallet for staking]
- Trezor Model T– [trustable hardware wallet for Cardano]
- Ledger Nano S– [Old but tried & tested wallet for ADA coins]
- AdaLite–[Oldest Web wallet for Cardano]
- Yoroi– [Best Cardano wallet for iOS mobile & Web browser]
- Exodus wallet– [Best Cardano wallet for Android]
- Daedalus wallet– [Best wallet to stake Cardano on Desktop ]
# 1. Ledger Nano X
Do you want something reliable and long-term for your Cardano cryptocurrency?
It would be best to look at Ledger Nano X – the new hardware wallet launched by the Ledger SAS company – a pioneer in the production of security solutions for digital assets such as Cardano.
The good thing is that Cardano is supported by Ledger Nano X and 1000+ other currencies. In addition, the device has a battery and Bluetooth to manage your ADA tokens directly on iOS / Android devices.
In addition, the Ledger Nano X is also one of the best Cardano wallets to stack ADA coins and earn a lucrative return on the coins you already have.
Finally, the Ledger Nano X is a self-hosted wallet where you get the seed statement to control your ADA and other cryptocurrencies.
# 2. Trezor Model T
The Trezor Model T is the new, improved model of the former Trezor hardware wallet, and the good news is that it supports Cardano, including hundreds of other cryptocurrencies.
Trezor is also one of the pioneers in hardware wallets and has been developing wallet solutions for the past five years. It is a small device with a mini OLED screen on which you approve the transactions on the screen.
Trezor is a self-hosted HD wallet where you control your private keys with a 12-word seed or access statement, which is essential to protect any crypto assets.
But one thing to note is that you need to use Trezor Model T with AdaLite or Yoroi wallets (native software wallets for Cardano) because it gives you the user interface to interact with your ADA coins stored on Model T.
# 3. Ledger Nano S
Ledger Nano S needs no introduction.
It is certainly the most famous Bitcoin and cryptocurrency wallet made by Ledger HQ, which now supports Cardano (ADA).
If you are missing your budget to buy a cryptocurrency wallet, you should check out Ledger Nano S as it is quite cheap right now. And the best part is that you pay less for the same level of security.
Like other wallets, the Ledger Nano S allows you to back up your seed, set a PIN, and enter a passphrase if you need it. Besides that, you can easily store 700+ cryptocurrencies and tokens on it and go across national borders.
In addition, the Ledger Nano S now also supports ADA coin wagering when using the hardware with AdaLite or Yoroi wallets (native software wallets for Cardano), giving you the added benefit of holding Cardano tokens
# 4. AdaLite wallet
AdaLite, formerly known as CardanoLite, is a lightweight web wallet to store your Cardano safely and securely.
AdaLite is developed by Vaccumlabs developers who are fans and holders of Cardano understood the need of the time to create a more user-friendly wallet for Cardano users.
You do not need to make any registrations or installations to use AdaLite. Instead, you can directly access the wallet at the AdaLite.io URL.
That said, AdaLite is a self-hosted wallet, and no one, not even AdaLite, stores your data or keeps any backup of your money.
Finally, AdaLite is compatible with Trezor Model T and Daedalus wallet, so you also have this opportunity to explore.
Note: AdaLite does not support Cardano Staking.
# 5. Yoroi wallet
Yoroi is a lightweight web wallet and one of the best wallets for Cardano.
Lightweight wallets do not need to download or sync blockchain like Daedalus. This means that you can send or confirm receipt of transactions immediately when you open the wallet.
Another simple way to understand it would be: Yoroi is a lightweight, hierarchically deterministic (HD) wallet for Ada (cryptocurrency) that runs like a Chrome extension.
This purse is also Cardano’s official purse, as Emurgo is developing it and developed by IOHK, which is the official representative of the Cardano project.
When you set up the Yoroi Purse for the first time, you get a 15-word recovery sentence. Keep this very safe as losing this would mean you lose all your money.
In addition, Yoroi is a self-hosted wallet, which means that private keys are only stored encrypted on the user’s machine while using Yoroi. So you do not have to worry about security.
However, I would recommend you to be aware of phishing attacks while using web wallets, so keep that in mind.
Note: This wallet does not support Cardano betting independently, but you can bet ADA if you use Yoroi with any Ledger Hardware wallet. Yoroi is also available for Android and iOS.
6. Exodus Wallet
Exodus has been my favorite wallet for all the cryptocurrencies I have ever had since my early days in cryptocurrencies.
It is a beautifully designed desktop and mobile wallet for any lay user to safely and securely store cryptocurrencies like Cardano.
In addition, it is a non-custodial wallet where you get 12-word seeds and you remain in control of your cryptocurrencies including ADA coins.
Exodus has also recently started supporting Cardano ADA tokens along with betting ADA coins so you can earn the extra dividends just by holding Cardano cryptocurrencies.
So if you are looking for a simple and free to use Cardano wallet to bet as well as to hold your ADA coins, look no further than the Exodus wallet, which is available on mobile as well as desktop.
# 7. Daedalus wallet
Daedalus is the official wallet for Cardano cryptocurrency.
It is a full node desktop client where you have to download the entire blockchain and wait for synchronization.
With the Daedalus wallet, you can create several hierarchical deterministic (HD) wallets to store your ADA funds.
Besides that, the Daedalus purse is also a self-hosted purse where you get the seed for backup and recovery. This is why you remain in complete control of your money and can safely send / receive / manage Cardano using the Daedalus wallet.
Another good reason to use the Daedalus desktop wallet client is that the Cardano team is developing it, and it also supports Cardano efforts.
Finally, you can make Cardano paper purses using Daedalus, where the purses can be exported for paper certificates, giving you maximum security by placing money in cold storage.
Daedalus- Desktop Cardano wallet supports Cardano betting. Their iOS and Android app is also under development.
So how do you conclude on the best ADA wallet?
I know many of you might think that there are not that many Cardano wallets to choose from, but believe me, there are enough options for a blockchain that has only been here for such a short time.
If you were there a year ago, you would not have even found these options for storing Cardano.
I’m also sure that with the time and maturity of the Cardano project, you can expect as many wallets as you have now for Ethereum.
Another thing that bothers Cardano users is the lack of Cardano Android and iOS wallets, which is a real concern, but it will be sorted out as Daedalus works on it.
There is also one mobile wallet for Cardano users (iOS and Android), ie, Infinito pung, but I’m not sure about the quality yet, but if that changes, I’ll put it on my list.
Plus, the good news is Cardano has come to the Ledger Nano S, so if you have one, then you can relax or buy the Ledger Nano X – the next generation Cardano hardware wallet.
Finally, I would encourage you to take your Cardano or other cryptocurrencies out of the stock market, and if you want a Cardano hardware wallet right now, you can check out the Trezor Model T.
So it’s all from my side in this round of best Cardano purses and I will update this list from time to time as more Cardano purses come on the market !!
Until then, enjoy and share your knowledge of crypto with everyone around you 🙂