If you purchased Tron Tokens (TRX) on a cryptocurrency exchange, we do not recommend that you leave them openly on your account. It is important to configure a wallet in your possession which will ensure the safety of your TRXs.
What is a Tron wallet?
All wallets compatible with the blockchain Tron can serve as a tron wallet. It may have been designed specifically for Tron, or be compatible with many other cryptocurrencies. But before choosing one, you need to understand what a wallet is in general and what are the advantages of using it.
Definition of a wallet
A wallet, or cryptocurrency wallet, is a digital or physical support on which you record the private key giving access to your cryptocurrencies. This private key must be kept safe from cyber threats such as malware, but also from other users.
The advantages of using a wallet
Using a wallet allows you to better control your cryptocurrencies. Instead of relying on the cybersecurity skills of a site or trading platform, you ensure the safety of your TRX yourself. Thus, no need to fear the various trading platform hacks, your TRX will stay safe, in your possession!
The different types of wallets
Wallets divide two main categories : the hot wallets and the cold wallets. The former are those that store your TRX tokens in an online environment, while the latter keep them secure off the Internet. From these two types of wallets, we have sub-categories. Here are a few :
- The online wallets : Using the cloud to allow you to access your cryptocurrencies from your computer, these wallets are designed to be very practical. Often from a purchasing platform such as Coinbase or eToro, these hot wallets require your trust to a third party. They are useful when you trade a lot, but expose your cryptocurrency to the dangers of hacking;
- The app wallet : Being applications to install on your smartphone, these cryptocurrency wallets are solutions a little more reliable than online wallets. These hot wallets are equipped with a large number of features. The ideal solution if you have a small amount of TRX;
- The hardware wallets : These cold wallets are devices dedicated to generating and securing the private keys of your cryptocurrencies. Usually in the form of a USB key, these are the most reliable solutions for storing a large number of TRXs.
The 3 best wallets for Tron
Find below the 3 best wallets compatible with Tron.
Ledger Nano S
Sold by the French start-up Ledger, the Ledger Nano S is a hardware wallet compatible with a large number of cryptocurrencies, including Tron. It has an encrypted chip on which your private key is generated and saved, ensuring that it never comes into contact with external applications or an internet connection.
The Ledger Nano S is designed to be transported and used without risk. It is secured by an 8-digit PIN code, and is automatically reset after 3 failures during authentication. In case you lose your wallet, don’t worry: the wallet gives you a 24 word sentence to copy onto a sheet of paper which will allow you to recover your cryptocurrencies.
TronWallet is a app wallet designed specifically for use with Tron. It is available on Google App, Apple Store, so you can use it on your smartphone iOS and Android. TronWallet offers you the possibility to use DApps, or decentralized applications, designed for the Tron network. As a peer-to-peer wallet, TronWallet allows you to exchange your cryptocurrencies in a decentralized manner.
Note: TronWallet is also a desktop wallet compatible with macOS, Windows and Linux.
Atomic Wallet is a wallet available on Pc (Windows, Ubuntu, macOS …) and the smartphones (Android and iOS). It supports over 300 different cryptocurrencies, including Tron. Atomic Wallet has the “Atomic Swap” feature, which allows you to trade cryptocurrency instantly and without third parties.
What should you remember about choosing your wallet for Tron?
To be able to choose the wallet that suits you best, you will need to take into account two factors important: the Tron quantity in your possession, and if you own other cryptocurrencies or not. In addition, note that nothing prevents you from test several wallets for your cryptocurrencies. Particularly in the case of certain wallet apps, their free is a good opportunity to download and test several options to learn more about your preferences and find a suitable product.
Choosing a good cryptocurrency wallet is an important step for any Tron user who wants to benefit from all the features of the technology and want to ensure maximum security for their TRXs. It will therefore be necessary to compare the many options available on the market and purchase a wallet adapted to your needs. Remember to carefully follow the Tron course.