As a cutting-edge blockchain platform, Cardano provides extensive security mechanisms and a sustainable base to various decentralized applications.
Handling and storing Cardano’s cryptocurrency (ADA) requires an ADA-specific crypto wallet, and finding the best is not always an easy task. This is why we’ve compiled a list of the best Cardano wallets!
Cardano has everything that makes an optimally functioning blockchain platform.
With a ledger that supports multiple assets and smart contracts that foster transparency and verifiability, it helps businesses, individuals, and institutions launch and run financial applications around the world.
As for ADA, it is a digital currency, or cryptocurrency, that any user from any location in the world can use as a trusted exchange of value.
The benefits of using ADA over conventional currency (fiat currency) is that no third party is necessary to mediate or foster the exchange (and apply additional fees for that, of course).
Every transaction is permanently and securely etched into the Cardano blockchain.
In addition to this, ADA functions as a stake in the Cardano network when held stored in a wallet. This brings many benefits on this platform such as rewards, incentives for participation in running of the network, and various other niche and general perks.
Oh, and about the unconventional name: ADA bears the name of Ada Lovelace, a 19th-century mathematician that claims the title of the first ever computer programmer.
To add more flash to the already-cool background, she is the daughter of the famous English poet, Lord Byron.
Anyway, to deal with Cardano (ADA) you need a Cardano wallet. So, let’s cut to the chase and bring forth the best Cardano wallets.
Best Cardano Software Wallets
You’ve heard the name if you ever dealt with cryptocurrency in any way; Binance is one of the most popular cryptocurrency exchanges and has a whole set of tools associated with its name.
Binance’s crypto wallet follows the similar analogy of quality and represents a neat solution that allows and helps with trading with more than 150 cryptocurrencies on the big platform.
Binance has some of the best safety policies among Cardano wallets and provides around the clock support for any potential issue that might pop up (which rarely happens, if ever). It is available across several platforms, and supports web browsers, Android, iOS, and PC setups.
In fact, it is in Binance’s interest to have high standards when it comes to its wallet as the integrated exchange directly benefits or suffers from the efficiency of its crypto storage.
With advanced interfaces and massive volume of traffic flowing through it on a daily basis (more than 1,400,000 transactions per second), having a superb wallet comes as a must. And Binance provides!
Supporting BTC, LTC, BCH, ETH, and Cardano and having hardware compatibility with Ledger and Trezor, Binance wallet is an obvious choice for most traders.
Secure, reputable, and reliable, Binance is without doubt one of the best Cardano wallets out there right now.
A product of Emurgo, a blockchain promoter company that also encourages the use of Cardano, Yoroi is a light software wallet perfectly suited for day-to-day traders who do not wish to overexpose themselves to tech-intensive devices and practices.
Yoroi is pretty easy to set up and use on both Android and iOS, with further integration as browser extension on Chrome, Edge, and Firefox.
With security as a top priority, Yoroi spends most of its efforts into further proofing their wallet and maintaining the superb safety standards that they managed to achieve.
Exhaustively tested, audited for potential backdoors, and fully reliant on encrypted private keys, it is perfectly safe to use by everyone.
It is useful to know that Yoroi does not require you to download the entire Cardano blockchain in order to keep track of transactions.
This makes download very fast and enables using it right away. Oh, one more thing, Yoroi supports Cardano staking and is integrated with both Trezor and Ledger Nano hardware wallets.
Cue Daedalus, a desktop wallet that supports both Cardano and tight security measures! Does that make it a candidate for the best Cardano wallets list? Of course, it does.
Developed by IOHK, Daedalus can be set up on Windows (Windows 8.1 or Windows 10, as of 2021), Linux, and Mac. Regarding hardware integration, it supports both Ledger Nano and Trezor, so no worries there.
Another quality of life improvement of Daedalus is the feature that allows an unlimited number of wallets which can help you sort out your ADA, but also provides nice backup and recovery options.
Daedalus users can further filter the stake pools which sorts them out by different criteria and allows extracting useful info upon which you can base your trading strategies and approaches (or vice-versa).
Installed from scratch in less than 30 minutes, Daedalus is usefulness embodied. Sync and get started!
The overall process of establishing cryptocurrency as a valid means of trade is made easier by the likes of exchanges such as Gemini. It is not a coincidence that Gemini as an established crypto exchange has its own as one of the best Cardano wallets.
Just like its mother platform, Gemini wallet is an elegant, easy, and secure way of maintaining a healthy and safe crypto portfolio.
As a crypto exchange, Gemini provides discounts for high volume traders, removing up to 100% of the associated fees. Hand in hand with these measures that promote volume trading, Gemini’s wallet boasts excellent industrial-level security measures and safety policies.
The only perceived fault is that Gemini is limited to being a software wallet, without any hardware compatibility.
Gemini’s wallet supports Bitcoin, Ether, Litecoin, Bitcoin Cash, Zcash, Filecoin, Dogecoin, Tezos, and a dozen of different ERC-20 tokens.
Great diversity coupled with comfortable security ensures that Gemini wallet remains a sure candidate for the best Cardano wallets list. Kudos!
The trend of cryptocurrency exchanges providing crypto wallets still goes strong and it is no different with Coinbase. Every serious day trader has had some contact with this crypto platform so it really does not need further promotion.
Suffice to say, it is supported in more than 100 countries in the world and is within top 5 exchanges in the world according to trading volume in billions of U.S. dollars. Neat!
Coinbase wallet follows in similar fashion and stands as a top-tier utility software for obtaining, buying, selling, exchanging, and storing tokens and altcoins.
Preserving the safety of your digital assets in a cold storage while also providing dynamic access to funds, Coinbase has all the perks of your favorite new Cardano wallet.
Coinbase wallet comes with an app for both Android and iOS devices which serves to foster mobile access to keeping track of your crypto portfolio on the go.
The users can also schedule trade on a monthly, weekly, or daily basis, which goes well together with the crypto exchange component of Coinbase.
It supports a wide array of coins, Cardano included, and comes with hardware wallet compatibility with Ledger and Trezor.
You can’t make a mistake with Coinbase, hands down.
Crypto exchanges still going strong! Cex.io is yet another platform that allows buying crypto coins and storing deposits using Visa, MasterCard, or PayPal Debit MasterCard.
Likewise, withdrawing funds is similarly done in just a couple of clicks. It makes sense that such a useful crypto trading platform forms its own software wallet, right?
With Cex.io’s wallet, users can store and manage ADA, Bitcoins, Ethereum, XRP, and Cardano, among others, and directly exchange them for USD.
The advanced security measures prevent the option of undergoing theft and fund syphoning, as well as protection from DDOS attacks by the means of total data encryption. Safety first!
On top of all, this decentralized app offers downloading reports that show real-time balance and total transaction history, as well as leveraging up to ten times more without having to handle multiple accounts on the same platform.
Oh, and full mobile device and web browser support included! Yummy.
Coinsmart understands that the world of cryptocurrency trading has opened to people of various backgrounds, not necessarily rooted in IT or trading.
To make this branch of commerce more accessible to them, it has designed its trading platform and exchange as beginner-friendly as possible while still retaining the features that can sate experts as well.
The main focus of Coinsmart remains providing instant access to crypto balances easily and purchasing and selling crypto without unnecessary hassle to its users.
It goes as far as to provide a much simpler way of invoicing customers using SmartPay directly via the app. Well done!
Coinsmart crypto wallet was launched in that same spirit of making the life of a crypto day trader much easier.
In a couple of clicks anyone can get a swift access to their cryptocurrency portfolio, while still retaining the strict policies that prevent breaches into your digital crypto treasury chest.
This wallet also processes fiat currency withdrawals in a matter of days. The supported coins include Cardano, of course, but also Bitcoin Cash, Litecoin, XRP, and many more.
Is all this enough to land Coinsmart on the best Cardano wallets list? Yes, yes it is!
Best Cardano Hardware Wallets
Ledger Nano is our first entry in the hardware wallets section and not without a reason. It is a hardware wallet that supports a huge number of cryptocurrencies and goes along well with all major platforms and devices (Windows, Mac, Linux, iOS, and Android).
Ledger Nano comes in two generations of devices, Ledger Nano S and Ledger Nano X, with the X version being the newest addition.
As a hardware wallet, Ledger Nano is physically inaccessible to the global grid when you yourself do not want to make a transaction, which makes it virtually impervious to any attempt of cybertheft.
Having said that, Ledger Nano has extensive measures to preserve the safety of your crypto whenever there is a connection with the world outside this safe.
Ledger Nano supports Bluetooth links and WalletConnect, an open-source protocol that uses QR codes to connect decentralized apps.
Also, every Cardano transaction is signed within the device using a private key that is never revealed to anyone. Talk about safety and impenetrability, right?
Ledger Nano’s battery can hold out for weeks if idle, and has only two buttons that are used to operate it. Convenience and security–nicely done, Ledger Nano!
Trezor is a hardware wallet that holds the secret to its efficiency in its name – “trezor” is actually the Czech word for a safe, which is pretty indicative of how much effort this Czech company has put into security of this neat little device.
It supports Mac, Linux, Windows, and Android, however the iOS has yet to receive integration with Trezor. Made with ease of use in mind, the interface of this wallet is simple and elegant, navigable by touch screen only.
How safe is Trezor? Safe enough for the guys behind it to release the software code to the public and challenge anyone to find weak spots and vulnerabilities! It is that safe.
Trezor supports more than one thousand types of cryptocurrency. Give a moment to let that sink in. Cardano is included, of course, and all Cardano transactions are signed using a unique, procedurally-generated private key that isn’t available to anyone.
A no-brainer entry onto the best Cardano wallets list if there ever was one!
An innovative hardware wallet solution, Ellipal Titan does not rely on USB cables or Bluetooth, employing instead the air-gapping method.
In order to eliminate every possibility of unauthorized entry, an air-gapped state completely isolates the device mechanically, electromagnetically, and electronically from every source of digital connectivity, instead using the QR code transmission only.
The Ellipal App is used for this, which is supported by iOS and Android devices. Ellipal Titan hardware wallet, on the other hand, is 100% metal with a large and durable touch screen. In other words, Ellipal Titan is as strong and safe as the name suggests!
The Ellipal Titan wallet is armed with a self-destruct anti-tamper mechanism that anulls every piece of information, private keys and funds stored inside, upon breach attempts.
No worries, though, nothing will be lost as you can always recover your wallet with a recovery phrase. With this hardware wallet, your ADAs are safe from offline and online attacks alike.
It supports more than 7000 cryptocurrencies from 38 blockchains, has a 13-word mnemonic seed phrase as the ultimate layer of security, and allows staking Cardano in addition to Market and Finances tabs for further exploration of the domain.
Rock-solid, Ellipal Titan. Congrats!
Hot vs. Cold Cardano Wallets?
The main difference between hot and cold Cardano wallets lies in the connection with the Internet.
All “hot” wallets are stored somewhere in the cloud, and the information on funds and access lie with the provider of these services.
Essentially, with “hot” wallets (exchanges, custodian wallets, etc.) you are handing your altcoins to be safeguarded to someone else.
You only have official access to these funds, but the security measures lie entirely in the hands of the custodian.
In theory (and sometimes practice), your funds are susceptible to hackers as long as they are online, and hot wallets are always online.
Cold wallets, on the other hand, go “offline” whenever you’re not handling them personally.
They usually come in the form of a hardware device that stores your crypto assets similarly to a personal safe or one in the bank of old Western movies.
Of course, digital currency does not take physical space so these wallets are not large in size, but still employ extreme safety measures that prevent forceful entry.
In essence and most of the time, the main difference is that cold wallets are more secure while hot wallets allow simpler use and transactions, but this also is not always the case.
However, the consensus remains that the cold wallets are much, much safer options.
How Important is the Safety of my ADA Wallet?
Pretty important, if not the most important thing in a wallet. The more value you have in your crypto assets, the more important safety becomes.
You can never be too safe, as the old saying goes, and cryptocurrency is no different.
Sure thing, if you have a couple of hundred bucks worth of crypto, you probably don’t need a high-end hardware wallet with cutting-edge cyber protection technology, but if you have more money in crypto than you’re willing to sacrifice at any point in time, consider obtaining a nice and safe wallet ASAP.
Picking the right wallet is like picking the right bank. In theory perhaps it mostly depends on factors other than security, but as soon as some breach occurs suddenly safety becomes the crucial aspect of the equation.
Do not wait for theft to occur before investing in a proper wallet. Invest now. And with our list of the best Cardano wallets out there, you have a narrow selection to pick your winner from.
Good luck and happy trading!