If you have Cardano, it is recommended to secure this cryptoactive by transferring it to a “Cardano wallet” (a digital wallet where to store your currency). Indeed, it is important that your investment is stored outside of a shopping platform which may present security risks. If blockchain is difficult, if not impossible, to attack, many exchanges (these buying platforms therefore) have already been the target of hackers in the past. It is therefore advisable to deposit your digital assets in a safer place.
What is a Cardano Wallet?
A portfolio in general is a tool that takes care of the management of your private keys. These keys are essential to allow an individual to have access to his digital currencies. As they are impossible for ordinary people to remember, “Checklists”, called portfolios, were created to make life easier for users.
A wallet for Cardano therefore allows easy access to its tokens ADA. To do this, simply configure it correctly by indicating your private key.
There are many different types of wallets. Some are physical media that require manual action on the device to function, others are simple sheets of paper, and still others are computer programs or mobile applications.
The 3 best wallets for Cardano
There are dozens of wallets for Cardano. However, some are unreliable or difficult to use. To make your life easier, we have decided to present the 3 best Cardano wallets that will allow you to secure your ADA tokens.
Cardano has an official storage wallet, the Daedalus Wallet. Since it was created by the project development team, it is therefore, in theory, one of the most reliable Cardano wallets.
Here are some features of this ADA wallet:
- Maximum security thanks to the need to download the entire blockchain of the project. Thus, no third party should take care of validating the transactions;
- Creation of an unlimited number of different accounts;
- Works on Windows, MacOS and Linux ;
- News on the progress of the project integrated into the software;
- Ability to customize the interface to your liking thanks to the many themes available.
It is also possible to store your ADA tokens in a wallet integrated into your Internet browser through the addition of an extension. For this, you can get the Yoroi Wallet.
The advantage of this portfolio is that you can easily access your Cardano investment in a few clicks. Indeed, it is usually when you are browsing the web that you may need to access your tokens. With a simple extension to add to your browser, it will be a breeze. This will save you precious time.
Ledger Nano S
For some purists, only a physical storage portfolio allows you to sufficiently secure your ADA tokens. Some are content with a simple sheet of paper, but this is not really practical. We therefore advise you to use the renowned Ledger Nano S.
It’s probably the best-known (offline) cold storage device on the market. It is simple to use, inexpensive and manufactured by a French company. In addition, if you are unlucky enough to lose or damage this physical medium, there is a possibility to recover all the digital assets that were on it in a few minutes.
At the time of writing, this is probably one of the best options for securing your cryptocurrencies.
What should you remember about choosing a wallet for Cardano?
Security should always be taken seriously in the world of crypto assets. It’s still a young and the protections put in place by exchange sites are not always sufficient. To protect your investment in ADA, you should therefore use a renowned Cardano wallet.
You are obviously free to choose how to protect your digital assets. However, make sure you use a sufficiently reliable and secure option to avoid any risk of hacking.
The method you choose to store your ADA tokens will essentially depend on your risk aversion and how you want to use your investment. If you want to play it safe by trusting the team, use the official wallet, if you often pay with ADA, use a web plug-in instead and if you want to secure it offline, use a cold storage device .
If you want to know more about the other cryptocurrencies in the ecosystem, we invite you to consult our crypto guides.