One of the hottest new projects within the blockchain space this year has certainly been Cardano, having very recently seen its ADA cryptocurrency tokens skyrocket to new highs while breaking milestones left and right. It's no doubt that Cardano's blockchain is ground-breaking, and if you're keen on its future promises and potential, you'd surely want to know of the best Cardano wallet to store all that precious ADA.
There's a rapidly growing interest and adoption surrounding Cardano at the moment. Major enterprises are queueing up to experiment and apply Cardano's innovative blockchain technology for their own applications. Meanwhile, major institutions like Grayscale are making it easier to own ADA with its own trusts, just as investors with deep pockets are flirting with cryptocurrencies.
However, all that would be gone in a split second if their ADA tokens are not kept secure. We've learned all too painfully just how costly cybertheft can be, especially given the billions of cryptocurrencies lost every year. It's a crime that is easily preventable, too, if only more people would use proper wallets to lock down their cryptocurrencies. So, read along our best Cardano wallet to know which ones deserve to keep your ADA.
Best Cardano Wallet Reviews
1. Daedalus Wallet
Despite Cardano's growing popularity, some of the more popular wallet applications have yet to announce compatibility with its native ADA cryptocurrency tokens as of writing this best Cardano wallet guide. Thankfully, there is still a huge variety of excellent wallets out there for storing Cardano's ADA, including first-party wallets like Daedalus. The Daedalus wallet was developed by one of the organizations that help to support Cardano, IOHK.
What's special about Daedalus, unlike some other wallets, is that it is a full-node cryptocurrency wallet designed specifically for Cardano's ADA. This means that Daedalus will download a full copy of the entire Cardano blockchain onto the wallet application itself and independently updates it to validate every transaction in the history of the Cardano network.
What this means is that an open-source Cardano wallet can provide maximum security by validating your cryptocurrency holdings directly with the Cardano blockchain in a completely trust-less manner without having to rely on data from third-party servers.
The Daedalus wallet is made available only as a desktop client and compatible with any computer running Windows, macOS, or Linux.
The Daedalus wallet also allows you to theoretically have an unlimited number of wallets, giving you control over how your ADA cryptocurrencies are being managed. This also includes easy back-up and restoration procedures to help recover your funds in the event of an emergency. The Daedalus wallet also has a newsfeed feature, giving you direct access to any new developments within the Cardano ecosystem.
One other bonus, and for those that are actively seeking to take part in the Cardano blockchain, is that you can actively delegate your votes and stake your ADA cryptocurrencies straight from the Daedalus wallet. From here, you can earn staking rewards while also being able to take an active part in the community governance of the Cardano network.
2. Yoroi Wallet
In the interest of more choices for the best Cardano wallet, Daedalus isn't the only first-party wallet application to come from Cardano. This time, they've partnered with another one of Cardano's supporting organizations, Emurgo, to create the Yoroi wallet. However, it differs from Daedalus in that Yoroi is a ‘lite' wallet and does not require a full copy of the Cardano blockchain to operate.
This makes the Yoroi wallet far easier to use and much lighter on the computational resource, too. As such, it marks an improvement over Daedalus in that Yoroi offers its Cardano wallet in a variety of different formats. It can be had as a simple web browser extension, made available for popular browsers such as Chrome, Edge, or Firefox. Alternatively, you can have Yoroi as a mobile application, made compatible with Android and iOS.
Yoroi's wallet is very easy to use and is user-friendly, especially for those that are new to cryptocurrencies or are not accustomed to using heavy wallets like that of Daedalus. The navigations are fluid, with a simple and well-laid-out interface. You can use the Yoroi wallet to send, receive, and stake Cardano's ADA cryptocurrencies. It also offers easy integration and links up with selected hardware wallets.
3. Ledger Wallet
History will tell us that the most secure form of cryptocurrency storage is through the use of hardware-based or ‘cold' wallets. This is owing to the fact that cold wallets are often kept offline and thus not connected to the internet. This helps remove a potential avenue for hackers and malicious parties to make their way into accessing your wallet. As such, hardware wallets are usually recommended for the best form of security.
Ledger is one of the most well-known and popular brands of hardware cryptocurrency wallets. They offer not just one but two unique wallet solutions; the Ledger Nano S ($59.00) and Nano X ($119.00). You can then interface with the wallet through the Ledger Live client, which is made available on Windows, macOS, and Linux. Alternatively, you could download the app on your iOS or Android phone to manage your ADA on the go.
At the time of writing this best Cardano wallet comparison, Ledger supports over 27 major cryptocurrency tokens, including Cardano's ADA. Moreover, Ledger's wallet is also compatible with more than 1,500 other smaller types of tokens and digital or tokenized assets. So, there's certainly no shortage of options if you're planning to store anything other than ADA, unlike the Daedalus or Yoroi wallets.
Adding to that, Ledger's wallet is more than just a storage medium, as the Ledger Live application enables other services. You can buy cryptocurrencies straight from its wallet, such as Bitcoin, and then swap them for Cardano's ADA using Ledger's built-in exchange platform. Ledger has also partnered up with Compound Finance to offer decentralized finance (DeFi) services without even leaving the wallet.
You can stake cryptocurrencies or lend them out to earn more passive rewards. The hardware itself is machined beautifully from stainless steel and compact enough to keep it safely in your pocket. Security is guaranteed using a proprietary operating system and an integrated chip. The Ledger Nano X even has Bluetooth, so you can quickly pair it with your phone for quick and easy access to your Cardano tokens.
4. Exodus Wallet
Following Ledger, we'll continue onwards with our search for the best Cardano wallet with another popular wallet service within the cryptocurrency community – Exodus. In contrast to Ledger, the Exodus wallet is a software-based ‘hot' wallet, made readily available as a mobile application for iOS and Android. Or, you can get the full unadulterated experience using Exodus' desktop client on Windows, macOS, or Linux.
Unlike most other software wallets on the market, however, Exodus has easy support and integration with a hardware wallet. They have partnered with the equally popular Trezor, thus allowing you to access, sync, and transfer assets between the Exodus wallet and Trezor's hardware wallet. This includes the ability to shift around Cardano's ADA and makes for a “best of both worlds” compromise.
This ensures the robust and impregnable security of having a hardware wallet to lock away most of your cryptocurrency holdings while also having easy and ready access with a software wallet. This is helped even further thanks to one of Exodus' most applauded features and one that has contributed to its favorability among the cryptocurrency community; its slick and pleasing user interface.
Exodus, regardless of on desktop or mobile, is very easy to use with fluid animations, seamless navigation, and colorful graphics. Exodus has been able to beautify its wallet without sacrificing core functionality or leaving behind security and versatility. That said, Exodus supports a smaller basket of cryptocurrencies compared to some other wallets, with only around 125 different assets a the time of writing this best Cardano wallet guide.
You can also do more within the wallet itself. You could easily buy and sell cryptocurrencies, such as Cardano's ADA, using its built-in exchange, or send your tokens over to someone else. There are also options for staking and integration with Compound Finance to offer DeFi services. Using Exodus' own staking platform, you can earn upwards of 4% APY earnings yearly for staking ADA tokens.
5. Atomic Wallet.
The final contender in our competition to find the best Cardano wallet is Atomic. The Atomic wallet is a software-based ‘hot' wallet, as with the aforementioned Exodus wallet. The Atomic wallet is also among the most popular options made available, with more than one million users worldwide. Just like Exodus, you can have Atomic easily installed on your desktop, with compatibility for Windows, macOS, or Linux operating systems.
Alternatively, you could instead manage your cryptocurrency assets on the go, such as Cardano's ADA tokens, using Atomic's iOS or Android mobile apps. In the old days, cryptocurrency wallets are often clunky and hard to use. But following in the footsteps of other wallets on this list, Atomic has made its user interface a top priority. It is very easy to use, with a simple user interface that can be understood quickly.
Furthermore, Atomic's wallet supports a wide array of cryptocurrency wallets, more so than just ADA tokens, with compatibility for more than 500 unique cryptocurrencies. You could buy cryptocurrencies easily from within the Atomic wallet application, using your Mastercard or VISA credit card. Or, exchange cryptocurrencies such as Cardano's ADA seamlessly using its built-in exchange.
Just like the other wallets in this list, the Atomic wallet has support for staking, with a wide variety of different cryptocurrencies to choose from. As of writing this best Cardano wallet guide, you could earn nearly 5% APY from staking ADA or earn upwards of 30% with some other cryptocurrencies. Compared to the other wallets here, Atomic has the most choice when it comes to staking options.
Another interesting aspect of Atomic is its native AWC tokens or the Atomic Wallet Coin. The AWC has its own benefits and uses when used within the Atomic wallet, such as being able to accept discounts on exchange services or discounts for buying cryptocurrencies with your credit card. Or, you could join for a membership with the Atomic wallet and earn additional cashback up to 1% on purchases and exchanges.
Best Cardano Wallet – Conclusion.
We can now finally conclude our best Cardano wallet guide, and find a reigning champion for the top one made available today. It's not an easy choice between these five strong contenders, as each wallet offers their own unique features, and abilities. Some are easier to use than others, while others offer a versatility that is unmatched when it comes to cryptocurrency storage, not just limited to Cardano's ADA.
Naturally, we're obliged to nominate at least one to wear the crown of the very best Cardano wallet, and today's badge of honor goes off to Exodus. The Exodus wallet well deserves this accolade, owing to how adaptable it is for any application. Its user interface is supremely easy and comforting to use, hiding behind it a huge array of different services and features, whilst also offering easy integration with a robust hardware wallet.
But it wouldn't be a fair competition without at least a runner-up to Exodus, and we'd happily award this to Ledger. No, it's not a free wallet, but the stunning design of the hardware itself well justifies the price. This is before we even get to mention its supremely robust security, compatibility with a huge number of cryptocurrencies, and its impactful inclusion of features such as staking and lending through Compound Finance.