Ready to start buying or selling NFTs? First, you need an NFT wallet.
Although, to be honest, I’m not the biggest fan of the term “wallet”. It misleads people to think it’s where you store NFTs, when in actuality its stored on a blockchain and the wallet is more like a key (scroll down if you want to learn more).
In this post, I will rank and review the seven best NFT wallets of 2022.
Without further ado, let’s get started!
What is Best NFT Wallet in 2022?
Now that we have gone over what to look for in an NFT wallet, we can start to explore what is the best NFT wallet on the market today.
Here is a list of the top NFT wallets:
Best for Versatility
Now, MetaMask is arguably one of the most well-known wallets out there. We give big remarks to them for being user-friendly and compatible with the most popular NFT marketplaces.
- Wallet Type: Mobile (iOS & Android) or Desktop (Chrome)
- Ethereum (ERC20, ERC721, & more)
- Hardware Wallet Support: Trezor or Ledger for desktop only
Sam’s MetaMask Wallet Breakdown:
If you’re just starting out, MetaMask is a great choice for its easy usability and compatibility features. It’s one of the most widely used wallets out there.
Best for Beginners
Now, a lot of people already use Coinbase to purchase their crypto, so downloading the wallet makes it easy.
Coinbase Wallet is perfect for those who are just starting out in the crypto world because it’s so user-friendly. It also happens to be one of the most secure wallets around, with multiple layers of security features.
- Wallet Type: Mobile (iOS & Android) and Browser Extension
- Ethereum (ERC721)
Sam’s Coinbase Wallet Break Down:
Coinbase is a great user-friendly and a very popular option. The only downside is if you need to back it up with a hardware wallet, you may need to wait.
Best Mobile Wallet for Advanced Collectors
Trust Wallet is a popular NFT wallet for digital assets. It allows you to nicely organize your NFT’s, cryptocurrency, and easily swap assets, depending on your needs. Where Trust Wallet shines is that it is great for tech savvy users, and also it supports Binance.
- Wallet Type: Mobile (iOS & Android)
- Holds ERC721 and ERC1155 crypto NFT’s
Sam’s Trust Wallet Breakdown:
Trust Wallet is a great NFT wallet. It stores NFTs in a nice, organized fashion that is easily accessible and is popular among NFT collectors for this reason.
Best iPhone Wallet
Enjin Wallet is another great wallet for those who are looking for a multi-chain option. It’s user friendly and they claim to be the safest mobile wallet in the world, which is important when you’re investing in high-end NFT’s. Enjin has a huge community behind it, and was one of the leading wallets with NFTs.
- Wallet Type: Mobile (iOS & Android)
- Blockchain: Ethereum
Sam’s Breakdown of Enjin Wallet
Enjin is another Ethereum wallet that deserves an applause on being one of the most user-friendly wallets. The biggest bummer is not having the PC extension.
Best User Experience Wallet
Rainbow wallet is an Ethereum wallet that it’s many people rave about. I’m just obsessed with clicking around on their home page and seeing rainbows (if you don’t believe me, click here and enjoy a minute of bliss). It’s one of the most user friendly wallets out there. It’s one of the only one’s that allow you to use Apple Pay to purchase Ether. The interface is just absolutely fantastic, I think this is one, if not the best NFT wallet for iPhone users.
- Wallet Type: Mobile Version (iPhone & Android)
- BlockChain: Ethereum
Sam’s Break Down of Rainbow Wallet
When you use rainbow, it’s very intuitive when it comes to buying and selling NFT’s.
Best Multi-Platform Wallet
Math Wallet has been considered another worthy competitor in the NFT wallet space. It offers an impressive multi-platform function so you can acquire or sell your NFT’s seamlessly via phone or computer. It also boasts some of the highest number of blockchains to work with.
- Wallet Type: Mobile (iOS & Android) and Desktop (Chrome, Edge, etc)
- Hardware Wallet Support: Ledger
Sam’s Break Down on Math Wallet:
Math Wallet is also a stellar option for NFT’s as it boasts tons of NFT’s through its dApps browser, which puts it on the list of top NFT wallets.
Best Tezos Wallet
The Kukai wallet differs from all the above in that it is a Tezo wallet. With the Kukai 2.0, it has now been integrated with NFT metadata to access your collectibles.
- Wallet Type: Mobile
- BlockChain: Tezos
- Hardware Wallet Support: Ledger
Sam’s Break Down on Kukai Wallet:
This is going to be your go to for a Tezos NFT wallet.
That’s a wrap.
So there you have it, a breakdown of the most popular NFT wallets. Once you’ve picked your NFT wallet, be sure to check out the 9 Best NFT Marketplaces of 2022 or if you’re in photography you can learn how to make that photo into a NFT.
What is an NFT wallet?
An NFT (non fungible tokens) wallet is what you use to buy, sell, and hold your NFT’s.
I’m going to translate this for you like dollars. Money (dollars or your nation’s currency) gets deposited in your bank. This is like buying your cryptocurrency (typically Ethereum for NFT’s) and it’s held in that crypto exchange platform (like Coinbase).
But when you have that money in the bank, you can’t just walk into Starbucks and tell them to hit of Bank of America for the cash. You need to have a debit card to purchase that caramel macchiato.
This is the same with crypto. You need to transfer your crypto money (ethereum) from the “bank” (coinbase) to your cryptocurrency wallet (like MetaMask).
What are the Different Types of NFT wallets?
Now, you’ll also hear the term “hot wallet” vs “cold wallet”. A hot wallet is a software wallet, which are connected online and what I have reviewed for you today. But a “cold” wallet is an external wallet to transfer your NFT’s to. This is a good idea if you’re investing a lot of money to add an extra layer of security.
- Mobile Wallets “Hot Wallets”: NFT wallets you can access from your phone. You can store NFTs with the touch from a few buttons on your phone.
- Desktop Wallets “Hot Wallets”: Desktop wallets are wallets that use an extension (the most popular being a Google Chrome Extension) that you can access from your desktop. This makes buying and selling easy when you’re using a large screen.
- Hardware Wallets or “Cold Wallets”: Hardware wallets are an external wallet that are not connected to the internet. This protects them from hacks. The most popular versions are Tezor and Ledger.
**It’s important to note, there are some wallets that are compatible with mobile AND desktop.
What should you consider before choosing your NFT wallet?
Certain NFT marketplaces are only compatible with certain NFT wallets. You can check out the best NFT marketplaces here. You may want to choose a wallet that is compatible with many different type of marketplaces, therefore, an Ethereum based wallet would be your best bet here.
If you’re spending $10,000 on an NFT, you need to ensure your wallet won’t get hacked. It’s important to know the security features and limitations of each one. Also, if you’re planning on investing a lot of money in NFTs, make sure that it is compatible with a hardware wallet where you can store NFTs.
The ability to access your NFTs from your desktop to your phone. Some NFT wallets are only available on one platform or the other, while some can do both. Choose whichever one meets your personal needs.
Multi-Chain vs. Single Chain
Does this wallet support one or multiple types of cryptocurrency? The best NFT wallets will support multiple types.
Is this wallet easy to use? The best NFT wallets are intuitive and have a nice interface. If you’re a beginner, you’ll need one that is easier to set up and more intuitive to use.
How Do You Set Up an NFT Wallet?
The process of setting up an NFT wallet varies depending on which type of wallet you choose. Here is the general instructions on setting up a software NFT wallet.
Step 1: Download the Wallet
You will first need to download the wallet software. This is typically available for both desktop and mobile devices depending on the NFT wallet you chose. If it’s a desktop wallet, then you will most likely need to download a Google Chrome Extension. If it’s a mobile wallet, then you will have needed to download the app.
Step 2: Create an Account
Next, create an account on the wallet website. This is usually a simple process of entering your email address and creating a password.
Step 3: Copy ALL Passwords and Seed/Recovery Phrases
You’re likely going to have two passwords. The first password is what you will use every single day to login to your NFT wallet.
The second phrase is often called a “Seed Phrase” or “Recovery Phrase”. This is a random phrase or set of words (typically 12 words or more!) that you would need to redownload your account in case you ever lost or broke your phone or computer.
So make sure you WRITE DOWN WITH PEN AND PAPER these two phrases and secure them somewhere like a lockbox, fireproof safety box, etc. If you lose this you will lose access to your wallet FOREVER.
No one can recover this for you.
Step 4: Set Up & Fund Your Wallet
After you have installed the wallet, you will need to set it up. This usually involves choosing a currency, setting up security features, and adding any other desired features.
You will also need to add some crypto to buy NFTs. For instance, if you have Ether on a cryptocurrency exchange like Coinbase, you will need to transfer some over. Oftentimes, you can also purchase crypto directly from the wallet as well. Keep in mind, each transaction you do creates a new “block” in the chain, so it will cost you a transaction fee known as “gas” fees.
Step 5: Purchase Your NFT
You’re almost ready to purchase your first NFT!
The most important thing you need from you wallet is your public wallet address. Think of this address like your home address you send mail to. This is the address you will use to send crypto and NFTs to.
Now is the fun part: Check out your favorite NFT marketplaces, and start buying some NFTs!
Frequently Asked Questions (FAQs)
Which is the best NFT wallet?
The best NFT wallet for you depends on a few factors, such as which blockchains you want to use, whether you prefer a mobile or desktop wallet, and whether you want extra security features like hardware wallet support. If you don’t want to do any of the research, MetaMask is usually a safe bet.
Which Blockchain is best for NFT?
The most popular blockchains for NFTs are Ethereum, but many new blockchains like Tezos are becoming popular for NFTs. If you’re not sure which one is right for you and don’t want to spend a lot of time, Ethereum is the most popular platform taking over the majority of the market.
Do I need an NFT wallet?
Yes. In order to buy or sell NFTs, you need an NFT wallet that is compatible with the blockchain of the NFT you want to buy or sell. For example, if you want to buy an Ethereum-based NFT, you need an Ethereum-compatible wallet like MetaMask.
What is the most secure NFT wallet?
The most secure NFT wallets are typically hardware wallets like the Ledger Nano S. These wallets store your private keys offline on a physical device, so they can’t be hacked. You can get the best NFT wallets on the market, but you’ll still want to attach it to a cold wallet.
What is an NFT wallet seed phrase?
An NFT wallet seed phrase is a 12-24 word phrase that you use to generate your private keys. This phrase is also known as a mnemonic phrase or recovery phrase. It’s important to keep this phrase safe and secure, because if you lose it, there is no way to recover your wallet.
How do I keep my NFT’s safe?
Now that you’ve got your NFT, how do you keep it safe? These “hot” wallets are great to see your digital assets, and are kept safe with the secrete phrase and key.
It’s important that you keep your “seed phrase” safe by writing it down and hiding it. If you lose it or forget it, there is no one that can help you recover this.
Also, consider a hardware wallet for an extra layer of security.
What’s the difference between a crypto wallet and NFT wallet?
A digital wallet is any wallet that holds the keys to access your digital assets. Cryptocurrency wallet (or “crypto wallet” for short) is the term commonly used for a wallet that holds cryptocurrency. NFT wallet is the term for a wallet that stores NFTs. Many crypto wallets have now expanded to be able to store NFTs as they became popular.