Top 5 NFT Wallets on the Crypto Market you should know

The NFT concept is increasingly driving the international community to look back on ownership. This has caused many people to wonder, how non-technical individuals, who don't know much about technology, can make their own NFTs and find the opportunity to make more profits from art products themselves.

NFT wallet is an essential tool for those, who are looking to get an experience of this growing market. In this article, we will get an overview of the top 5 NFT wallets in the current NFT industry. Let’s get started!!

Overview of NFT

NFT (Non-fungible Token) simply means a virtual asset or a version of a real asset that is encrypted and stored on blockchain. An NFT has the following properties:

• Uniqueness and rarity: Each NFT has a unique feature, creating value for NFT parts.
• Indivisible: While some tokens are divisible for trading, most NFTs cannot be split into such transactions.
• No license required: NFTs benefit from the properties of public blockchains, which are freely accessible to anyone.
• Eternity: NFTs and their information are permanent. 
• Interactive: There are various types of NFTs, with which owners can interact.

Possessing many unique properties, NFT has brought a new wave to crypto, along with many users and money flows attracted to this market. Many people have certainly heard of popular collectibles projects such as CryptoPunks, Bored Ape Yacht Club,.., or, more recently, the GameFi trend, which has grown with numerous projects with good ROI performance. But, of course, NFT's application encompasses much more:

• Tokenization of artworks: A user can use NFT to design a picture, encrypt it, and then link it to a Blockchain to establish his ownership.
• Content development: Music, tweets, memes, and technical content can all be made into NFTs.
• Gaming: Add NFTs into the game's products and characters.
• Collections: Create collections with themes and images.
• NFT x DeFi: Allow staking NFT to receive tokens from the project or tokenize real-world financial items.

With various applications and NFTs' rapid expansion in both form and value, there will inevitably be a need to store these assets as safely and conveniently as possible. As a result, various NFT wallets have appeared to assist users in entering the NFT world.

What is NFT Wallet?

NFT Wallet is a supportive electronic wallet. They allow you to store advanced collectibles, including craftsmanship, gaming items, and some other NFT applications.

Recently, with the strong development of NFT trading and collecting, NFT wallets appear as a trend, not only helping users to store or buy and sell but also have "unique and strange" features, contributing to attracting as well as promoting the use of wallets and hoarding their collections.

Why is the NFT wallet important? What is the use of the NFT wallet?

Each NFT is unique and they are not interchangeable. For many people, NFT is like a proprietary asset that we need to store and preserve very carefully, especially with high-value NFTs.

As the demand for NFT increases, users need a tool to be able to buy, sell, send, receive, or trade their NFT assets. To maximize convenience, these wallets also need to be able to buy, sell, and store conventional cryptocurrencies.

There are different types of NFTs of different projects created on different blockchains, so it is quite inconvenient to manage distributed NFTs. Therefore, there is a need for a tool that can centrally manage NFTs owned by users. With DApp-accessible wallets, users can also buy and store NFTs in a single place.

Following the needs of the market, NFT wallets were born with an effort to optimally support users, not only for asset security but also to enhance the experience to the fullest. Sending or receiving are made convenient with just a few mouse clicks. 

In addition, the NFT wallet also provides full information such as properties, stories, and characteristics corresponding to each NFT.

Criteria for an NFT wallet

So, to be able to prepare for yourself a satisfactory NFT wallet, let's take a look at the most important criteria when choosing an NFT wallet.

• Cross-chain compatibility: To optimize user convenience, the NFT wallet needs to support NFTs on many different blockchains (ERC-1155, ERC-721, BEP-721, HRC-721,...). Although the popularity of ERC-721 is dominating the current NFT market, the growth of NFT arrays of other blockchains such as Binance Smart Chain, Solana, Avalanche,... are undeniable. Users need to prepare themselves a wallet that supports multiple chains.
• Security capabilities: Whether an NFT is worth less than a dollar or a million dollars, everyone wants their "pet" to be kept in the safest place, so this is an essential element for not only NFT wallets but also many other wallets on the market.
• User-friendly interface: An eye-catching and friendly interface, simple sending and receiving operations, will make it easier for users to buy and sell, as well as interact with NFT Marketplaces/ Gaming platforms right on their wallets.
• Compatible with multiple devices: Another point worth noting is that the wallet should support both computers and phones. Being able to access and sync users' NFTs on both desktops and mobiles will be a big plus.
• The ability to display NFTs directly in the wallet: The ability to display NFTs directly in the wallet will greatly increase the user's interest in that NFT. Not only displaying images but the ability to display properties or animated NFTs will also be a notable plus. The ability to connect to the NFT marketplaces or games you want to access. This helps users to connect quickly and easily, and also makes it more convenient to buy, sell or play NFT games directly on the wallet that is storing that NFT.
• Growth potential: Make sure that the wallet you choose will always move forward. Crypto is a "never sleep" market, so each product must develop in its direction or it will gradually be eliminated. A product that is always standing still and has an unclear roadmap is very unworthy of users’ trust.

So, now that we've gone over the criteria for selecting a favorite NFT wallet, let's take a look at the information on the best NFT wallets on the market right now.

Outstanding NFT wallets in the market

Coin98 Super App

Coin98 Super App is a dedicated multi-chain crypto wallet for DeFi that provides users a space to store and process NFT securely and conveniently. 

Users can store, send and receive multi-chain NFTs on EVM chains such as Ethereum, Binance Smart Chain, Fantom, Polygon,... and Solana. With an eye-catching interface, Coin98 Super App inspires users to use the wallet and makes it easier to find, track and manage NFT collections, allowing you to approach trends. NFTs and Gaming will be simplified and accelerated with this product.

Advantages:

• Supports NFTs on both the Mobile App and the Extension versions.
• Supports NFTs on multiple blockchains: all EVM chains and Solana. All NFTs on Avalanche, BSC, Ethereum, Polygon and Fantom blockchains will be automatically visible.
• Displays NFTs with animations and effects. Supports NFT video.
• Displays attributes, information, and plots for each NFT project; users do not need to manually add NFTs; the wallet will automatically display that NFT.
• Through using the NFT Issuer tool, users can issue NFTs immediately from their wallets.
• Through the Dapp Browser, users may connect to DApps, play games right on the wallet, and access NFT marketplaces.
• In the future, the Coin98 NFT Marketplace will be available.

Disadvantages:

• Since the functioning principle of multi-chain wallets demands that all chains be presented at the same time, there are frequent problems, such as NFTs or animations are not displayed properly.
• Some projects need to be supported on the wallet to be displayed.

Learn more: How to use Coin98 Super App

Metamask

Most of the DApps on the market today may connect to Metamask, a popular wallet that was originally designed for interoperability on the Ethereum platform and is now compatible with a variety of blockchains. Currently, this is the most popular tool to connect to the NFT world with the vast majority of users today.

Advantages:

• The interface is simple and straightforward, making it suitable for even newbies.
• There are mobile and browser versions available.
• Supports multiple blockchains, including Ethereum and EVM chains.
• Supports sending ERC-721 tokens directly on the mobile app.
• Because of its popularity, new projects usually integrate this wallet automatically, allowing it to interact with a wide range of DApps.

Disadvantages:

• No graphic support for NFTs, so the wallet must be connected to OpenSea.
• Having to manually add networks to the wallet is quite inconvenient.
• Because of its popularity in the market, frauds, impersonations, and other risks to consumers are unavoidable.
• NFTs on Solana - a fairly popular platform nowadays, are not yet supported.

Trust Wallet

Trust Wallet – Binance's electronic wallet with 5 million active users, is one of the most popular NFT wallets on the market. Trust Wallet allows users to store assets on a variety of platforms and connect their wallets to Dapps, allowing them to freely study and trade on the Trust Wallet app.

Advantages:

• Simple interface, easy to operate.
• Optimal integration and support for Binance Smart Chain: Most of the NFTs on BSC are supported on the wallet.
• Describes NFTs’ information and characteristics in detail.
• Supports multiple blockchains.

Disadvantages:

• Currently only supports NFTs on the mobile app.
• Currently only supports NFTs for Binance Smart Chain and Ethereum
• Only supports storing NFTs. Users need to connect to OpenSea/ Marketplace to be able to trade.
• The number of Dapps that consumers can connect to their wallets directly is currently restricted.

Coinbase

Coinbase, being one of the "biggest names" in the area of e-wallets today, allows users to store NFTs and cryptocurrencíe directly on the wallet, and connect to Dapps. With a simple interface, this is also a dedicated wallet that many people recommend for beginners. That simple operation will serve as an excellent stepping stone for a newbie to become acquainted with this potentially lucrative market.

Advantages:

• The interface is basic, making it easier for newbies to get acclimated to.
• Send and receive coins/tokens, as well as NFTs, with ease. More specifically, instead of public wallet addresses, users’ assets can be sent using wallet names.
• In the future, the Coinbase NFT Marketplace will be available.
• Supports multiple blockchains.

Disadvantages:

• Currently, only NFT rendering for Ethereum is supported.
• Only support NFTs on the mobile wallet version.

Phantom

Phantom is a non-custodial wallet supported by most NFT projects and Marketplaces on the Solana platform. Is the destination for the NFT collection of most users on the Solana ecosystem, which supports all NFTs on the platform in a smooth, seamless manner.

Advantages:

• Simple interface, easy to use.
• NFTs are displayed directly on the wallet.
• The NFT's full information is displayed.
• A popular wallet on Solana that can connect to most Games/ DApps/ Marketplaces on Solana.
• Users can immediately mint NFTs right on the app.

Disadvantages:

• Can only be used on the web version.
• Limited to the Solana ecosystem only.

Summary

Currently, the wave of DeFi in general, and NFTs in particular, is now growing rapidly, therefore, owning a tool to store and access the NFT market is extremely necessary.

This article has compiled information about five of the NFT wallets that I think are the best. Hopefully, with this article, you have had an overview of NFT wallets, from which you can refine the information and make your own decisions. Don’t forget to keep an eye on the NFT market to see how far it can go!