Blockchain platform Cardano for launching smart contracts, and ADA is its native cryptocurrency, which serves to send and receive digital assets. Cardano was launched in 2015 and has been in the top cryptocurrencies in terms of capitalization for almost the entire time. In 2021, she even managed to climb into the top 3 for a while. The platform was created by the Input-Output Hong Kong (IOHK) Foundation, led by Charles Hoskinson, who also co-founded Ethereum.
The creators set a goal to develop a “third generation blockchain” (bitcoin – the first, ether – the second), as well as a global payment system and a network of decentralized applications that can process transactions as quickly and cheaply as possible. The team is also developing a protocol with the ability to handle cross-chain contracts and is striving to create a bridge between digital and traditional finance.
You need to store ADA cryptocurrency in such a way as to protect it from any hacker attacks. Therefore, the editors of Btcnewsweb.com have compiled a review of the best wallets for Cardano that meet all safety and usability standards.
We also note that you can purchase cryptocurrency using the Binance, EXMO, Cex.io, Huobi, Kraken, OKEx, KuCoin exchanges, as well as through exchangers, for example – ExchangeKey, NiceChange, Prostocash, Kassa, AbcObmen, YChanger.
Cardano Wallets (ADA)
Cryptocurrency wallets can be divided into several categories: desktop, mobile, online (this includes crypto-exchanges), hardware, and paper. It is possible to store ADA in any of these ways. Let’s consider all of them.
Daedalus Official Desktop Wallet
- Established: 2015
- Currencies: Cardano only
- Platforms: Windows 8.1 and 10 (64 bit), Linux 64 bit, macOS 64 bit
- Features: full-node
- Website: https://daedaluswallet.io/
This type of wallet is called “thick” – to use it, you will need to create a full node on your computer, that is, download a full copy of the blockchain (as of March 2021, this is more than 6 GB). The plus is that it allows you to achieve maximum security, dispensing with centralized servers for accessing the blockchain.
Daedalus is a Hierarchically Determined Wallet (HD), which means that you can create an unlimited number of addresses per wallet. The user interface, in addition to the basic functions, includes a news feed with important events. You can customize the display themes of the interface.
Mobile wallet for ADA – Infinito Wallet
- Established: 2017
- Currencies: Cardano and over 2000 cryptocurrencies and tokens
- Platforms: Android, iOS
- Features: dApps support, educational system, instant cryptocurrency purchase for fiat
- Website: https://www.infinitowallet.io/
Infinito allows you to buy digital assets in a variety of ways – Visa, Mastercard, bank transfer, Paypal and many e-wallets. An instant exchange of one coin for another is also available within the application. It is possible to make money on deposits in various cryptocurrencies, including Cardano.
The user can work with various market signals, notifications about changes in the price of a particular coin. Instant technical support via chat inside the app. Among the partners of the wallet are IOHK, Ziliqa, Changelly, Simplex, Paxful and many others. This explains the variety of supported currencies and payment methods.
Yoroi – web wallet for Cardano
- Established: 2018
- Currencies: Cardano and Ergo
- Platforms: Chrome and Edge browsers; Android, iOS
- Features: lightweight HD wallet
- Website: https://yoroi-wallet.com/
The wallet was developed by IOHK with the participation of Emurgo technological solutions. Emurgo drives Cardano adoption and adds value to ADA holders by building and investing in blockchain projects. Yoroi does not require downloading a complete copy of the blockchain, but connects to trusted servers where this copy is already hosted.
The service supports synchronization with the Ledger Nano S hardware wallet. The project’s open source code is available on GitHub. Technical support works through Telegram and the community forum. Yoroi is one of the easiest to learn wallets for Cardano, it has a carefully designed and understandable interface structure.
AdaLite Online Wallet
- Established: 2019
- Currencies: Cardano only
- Demo: yes
- Platforms: any browser
- Features: Non-custodial online wallet with staking, Ledger Nano S / X and Trezor T support
- Website: https://adalite.io/
The project developer is Vacuumlabs. The wallet is regularly updated and already supports the new Mary update. The 15-word mnemonic phrase can also be used in the previously reviewed service, Yoroi, so you can import the wallet if needed.
In the AdaLite wallet, you can do ADA staking – delegate coins instead of launching your own node. You will need to fund your account, then manually enter the address of the staking provider. Enter the desired amount of the deposit, click Delegate. The reward is calculated approximately every 5 days.
Hardware wallet for Cardano – Ledger Nano S
- Established: 2014
- Currencies: Cardano and over 1,500 other coins and tokens
- Features: hardware wallet
- Price: 5499 rubles
- Website: https://www.ledger.com/cardano-wallet/
Cold Storage Wallet is an encrypted device that keeps Cardano offline, providing a high level of security against threats that are possible when connected to the network. Private keys that give access to assets are kept safe thanks to a certified secure chip.
Although the Ledger developers have released the Ledger Live application to work with many assets (currently 27), Cardano is not yet supported there. Therefore, you must use Adalite or Yoroi software wallets to make transactions.
ADA Paper Wallet
It is possible to keep your keys on paper, which is a safe and free way to store your keys, although less convenient than hardware wallets. Cardano Paper Wallet Creation is available from Daedalus Wallet. This is done as follows:
- You order a printout of a paper wallet in the Daedalus program.
- The wallet generates a 27 word key.
- The wallet generates a PDF that lists 18 words out of 27, but doesn’t show them to you right away.
- You print or just save the file, after which the program shows you the remaining 9 words, you must enter them manually.
After that, the application may ask you to enter all 27 words for verification, and will also show the address of your new wallet and a link to it in the blockchain browser.
In addition to those listed above, you can use wallets to store Cardano (ADA): Atomic Wallet, Exodus, Guardo, Trezor, Holytransaction.
How to choose a wallet to store ADA
Factors to look out for when choosing a storage method for any cryptocurrency:
- High security. It is necessary that the wallet allows you to store private keys on your own, activate two-factor authentication, and make backups.
- Supported currencies. You may want to store all your assets in one wallet at once, and not download a separate application for each coin.
- Technical support. Problems with transactions or other wallet functions should be quickly resolved with prompt and competent technical support.
- A simple and intuitive interface that is easy to interact with always – from the moment you first launch the wallet.
It is also important to look at the activity of the project team: how much attention they pay to their offspring, whether they are updating it, whether they ensure compliance with the latest security and functionality standards.
To store Cardano safely, keep a few tips in mind. First, try to keep any unused cryptocurrency that you are not currently trading in offline. Secondly, make the most of all the features that crypto wallets offer for security: PIN codes, 2FA, biometric access. Third, make regular backups of your wallets or set them up to automatically create them. Be careful when choosing a wallet for Cardano – there are many fraudulent projects. Choose only services from trusted providers.