NFT Wallet Guide

You need an NFT wallet to buy and sell NFTs. In most cases, you’ll need a digital wallet compatible with the Ethereum blockchain because NFTs are almost always on Ethereum. 

What are NFTs? 

Non-fungible tokens are digital collectibles representing digital items such as art, music, videos, or in-game tokens. They represent the original version of something digital. In some cases, they can be in-game items like plots of land or a unique helmet. 

NFTs are created by tokenizing (minting) digital items on the blockchain. This gives the digital collectible proof of ownership, thus ensuring that it can’t be deleted or counterfeited once a token is created.

NFTs can be stand-alone or part of a collection, allowing their owners to feel as though they are joining an exclusive online community.

Why do you need an NFT wallet?

As mentioned above, NFTs are created on the blockchain. This means that you can only purchase that NFT with cryptocurrency compatible with that blockchain platform. An NFT wallet stores cryptocurrencies needed to buy an NFT. You need to fund your wallet with the crypto needed to buy an NFT on the marketplace. Once purchased, you’ll need the same wallet to access your NFT assets in the blockchain, where it is actually held. The wallet provides the private keys that allow you to authorize transactions or sell your NFT. If you lose your private keys, all of your NFT assets will be lost.  

⭐️ Read more about How to Invest in NFTs?

Best NFT Wallets 2022

Outlined below are some of the best NFT wallets available in the market today.

1. MetaMask – Best NFT wallet with robust security

MetaMask is probably the most popular digital wallet for NFTs. It is a browser extension (also available as an Android and iOS) that provides easy access to NFT marketplaces with just a couple of clicks. MetaMask also makes it easier to send, receive, and store NFTs.

With MetaMask, you can set up multiple addresses so you can hold your NFTs at an address that’s separate from your cryptocurrency. You can also create a single address for each NFT you hold.

Another feature that makes MetaMask hugely popular is the built-in swap feature that allows you to swap crypto to buy NFT. In addition, MetaMask offers robust security features allowing you to keep the private keys securely on your device. This means that you have comprehensive control over your NFTs and crypto holdings. Lastly, your passwords and Secret Recovery Phase are encrypted to enhance your wallet’s security.

2. Trust Wallet – Best NFT wallet for beginners

Trust Wallet boasts a sleek and easy-to-navigate interface, making it one of the best NFT wallets for beginners. The wallet supports both cryptocurrencies and NFT digital collectibles on Ethereum and the Binance Smart Chain.

Buying NFTs from popular NFT markets and viewing your owned assets is easier with Trust Wallet. It also has an exchange option that allows you to quickly trade currencies in exchange for the NFTs you want to purchase. Trust Wallet is a free app for iOS and Android smartphones that does not save your personal information.

3. Coinbase Wallet – Best overall NFT wallet 

NFTs are digital assets that are supported by Coinbase Wallet. Coinbase Wallet makes it easier to buy and trade NFTs since it features a user-friendly interface that is simple to browse. Furthermore, storing your digital assets in the Coinbase Wallet provides you complete management.

It permits you to backup your private keys to your personal cloud storage with a single click. This can help to ensure that you don’t lose access to your NFTs or other wallet funds. While the wallet is available on smartphones, a browser extension makes it easy to acquire NFTs and use other dApps across devices.  

Another feature worth noting is that Coinbase Wallet allows users to receive and transmit digital assets using their username rather than their public wallet address. This gives you more peace of mind because you know you’re transferring assets to the proper person.

4. Wallet – Similar to Coinbase

If your desire is to access a full suite of DeFi services in one place, including NFTs, then try DeFi wallet. Offered by one of the most popular crypto exchanges in the market, this NFT wallet allows you to buy and sell NFTs with no transaction fees. Receiving and sending NFTs is also easy with the NFT wallet, as it provides a dedicated wallet address that ensures NFT transfers are easy and simple.

The wallet is non-custodial and is available on the App Store and Google Play. It is really free to use and supports over 100 cryptocurrencies, making it simple to store the cryptocurrency required to purchase NFTs. It comes with a passcode, biometric authentication, or 2-factor authentication for an extra layer of security.

5. Alpha Wallet – Best non-custodial wallet for NFTs, DeFi

AlphaWallet is an open-source NFT wallet that offers a quick and easy way to store NFTs. It is a self-custodial that supports many blockchain games and Ethereum-based NFTs. The wallet offers a straightforward user interface that makes it simple to connect to the top NFT exchange and invest. Users can now add metatags to their tokens so that they can search and filter them more quickly when exploring their collection. It can be used to access games like CryptoKitties, Dragonereum, and ChainZ Arena. It also has a built-in dApp browser to connect to NFT marketplaces like OpenSea and direct access to DeFi applications such as Compound.

What to consider when choosing an NFT wallet?

 Here are some things to consider when choosing an NFT wallet:

  • Some wallets are specifically for connecting to NFT marketplaces like OpenSea, SuperRare, and Solanart. If you are planning on buying and selling tokens in the future, you will need an NFT wallet compatible with different exchanges.
  • Other types of wallets are more general-purpose and can be used for storing or sending/receiving cryptocurrency. If you want to store NFTs for longer periods, you will also need to consider finding a wallet that is extensively compatible with the NFTs of your choice.
  • Consider your security needs. Hardware wallets offer more protection than software wallets. Nevertheless, the best NFT wallets offer two-factor authentication and encryption features to provide extra-layer security for your digital assets.
  • Mobile wallets. Consider utilizing a mobile wallet to store your NFT tokens on the go. However, being able to access your NFTs on both a desktop and a mobile device can come in handy. So, a wallet with cross-device support might be the best option. 
  • Conversion keys. When looking at NFT wallets, pay attention to the conversion fees, especially when withdrawing or depositing your NFTs.

hi – the World’s First NFT Card with Mastercard

If you already owned an NFT, why don’t put your NFT art on a crypto debit card? hi has recently partnered with MasterCard and launched the World’s First NFT Card. Eligible cardholders will be able to personalize the face of their card with an NFT avatar, and spend at more than 90 million locations worldwide where Mastercard is accepted.

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