“If you don’t have the key, the coin doesn’t belong to you” is a phrase that means “don’t keep cryptocurrency on the exchange”. Here are three soft wallets that millions of investors trust.
Almost all segments of the crypto sector will experience explosive growth in 2021. The steady influx of institutional funds can be interpreted as a signal that the best is yet to come.
For new users, figuring out how to make cryptocurrency can be a tedious task, and the challenge of securing assets beyond exchanges is another hurdle that some investors find difficult to overcome.
Below is a roundup of some of the most widely used crypto wallets that support multiple tokens and give users access to the DeFi, NFT, Staking, and Airdrop range.
MetaMask was originally started to support the Ethereum blockchain and decentralized applications (dApps). It is currently available as a browser extension and smartphone app.
MetaMask was launched in 2016 and has largely taken advantage of a first mover advantage to become one of the most integrated and popular wallets and one of the few to support almost every network.
Fast forward through supported networks, a platform that provides a list of networks compatible with the Ethereum Virtual Machine (EVM), and instructions on how to add any of the listed networks to your MetaMask wallet, which shows hundreds of blockchain networks who are backed by MetaMask, including many leading smart contract competitors.
Currently, MetaMask supports Avalanche, Fantom, Binance Smart Chain, Polygon, HECO Mainnet, Optimism and Arbitrum, and users can easily use different bridges to transfer tokens between supported networks.
MetaMask has also built a swap function right into the wallet to give users access to an aggregated list of decentralized exchanges (DEXs). According to data from Dune Analytics, the daily swap volume in MetaMask swaps has steadily increased throughout 2021.
Daily MetaMask swap volume | Source: Dune Analytics
The increase in swap volume is also accompanied by rumors that MetaMask will at some point issue its own token and many users are expecting an airdrop.
Phantom is a popular software wallet and browser extension available to Solana network users.
Similar to MetaMask, the Phantom wallet has a built-in DEX that allows users to swap directly in the software, avoiding the risk of connecting to a fraudulent website or paying gas fees to move funds from the wallet to a To transfer to the exchange.
Rumor has it that Phantom may launch its own token and drop some of the offerings to early adopters. However, this is so far pure speculation and was not mentioned by the developer.
The wallet also offers NFT tracking and users can trade the available NFT markets as well.
Similar to other wallets, Phantom users can deploy Solana (SOL) without transferring assets. Recently the team announced Partnership with MoonPay will allow users to use fiat currency and credit cards to purchase tokens within the Solana ecosystem.
The project is also developing smartphone applications that allow users to access the Solana network directly from their smart devices.
Keplr Wallet is the first Inter-Blockchain Communication (IBC) wallet and browser extension for the Cosmos network that enables users to store and access tokens within the ecosystem.
It currently supports more than 15 networks including Cosmos, Secret Network, Kava, Crypto.org, IRISnet, and Persistence, and the team regularly provides support for new chains with multiple projects currently in beta access.
Supported token holders can stake their holdings directly via the Keplr wallet and the app works on Android and iOS devices.
https://twitter.com/keplrwallet/status/1448597762665336832?ref_src=twsrc%5Etfw” target=”_blank” rel=”nofollow noopener
There are currently no rumors about possible Keplr tokens or airdrops for users, but the crypto room is always full of surprises. If Keplr integrates popular features like its own swap interface or an NFT marketplace, there is a high chance that there will be a native token.
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