Cardano is a blockchain based on the Proof-of-Stake consensus mechanism, designed primarily to provide more scalable solutions than Ethereum. Its native crypto ADA is one of the leading cryptocurrencies in terms of market capitalization.

At the time of its creation, Cardano was presented as a major competitor to Ethereum, which at the time operated under the same proof-of-work mechanism as Bitcoin. Cardano’s scalability attribute suits the development of a wide range of DeFi applications, games, crypto tokens and many other projects.

The 9 best Cardano (ADA) wallets

best cardano wallet

Many wallets are compatible with Cardano’s ADA. However, we’ll briefly describe the 9 best ADA wallets, taking into account ease of use, accessibility, security and the ability to store other cryptos in addition to ADA.

Name Type Supported cryptosPlatforms
eToro MoneyMobile application20+iOS, Android
ExodusMobile application, web extension, PC260+Windows, Mac, iOS, Android, Chrome/Brave browser extension
Trust WalletMobile application, web extension, PC4.5 million tokens (including NFT)iOS, Android, Chrome browser extension
Ledger Nano XHardware1 500+Windows, Mac, Linux, iOS and Android
KeepKeyHardware50+Windows, Mac, iOS, Android and Linux
MetaMaskMobile application, web extension, PCETH + ERC-20iOS, Android, Chrome browser extension
JaxxMobile application, web extension, PC260+Android, iOS, Linux, Mac, Windows
Trezor Hardware1 400+Windows, Mac, Linux, iOS and Android
BinanceMobile application, web extension, PC386+Windows, Mac, Linux, iOS and Android

Binance

  • Low fees
  • One of the largest crypto exchanges
  • Fee discount for using native BNB

What is a Cardano wallet?

A Cardano wallet enables you to store, send, and receive ADA coins and Cardano’s native tokens. Cardano wallets come in a variety of forms and categories.

There are online, hot, offline Cardano, and cold wallets.

Online wallets (hot wallets)

“Hot wallet” refers to crypto wallets connected to the Internet almost always. When you have ADAs in your MetaMask wallet app, even if you don’t open the app and your smartphone is connected to the Internet, the wallet is considered accessible online.

Hot wallets offer several advantages, justifying why they have become so popular and arguably the cryptocurrency industry‘s most widely used wallet type. Hot wallets are easy to use and can be accessed from anywhere, provided you have an Internet connection.

In some wallets, you can carry out operations directly from the Cardano wallet: sending and receiving and other functionalities such as staking and exchanging cryptos.

The main drawback of hot wallets is that they are exposed to hackers.

Cardano hot wallet advantagesCardano cold wallet disadvantages
Ease of useVulnerable to attack
Easily accessibleDependence on wallet provider
Transactions can be carried out from the portfolio

In our comparison, here are the hot wallets.

eToro Money

eToro is a leading cryptocurrency and stockbroker. The platform has been around since 2007 but only added cryptocurrency trading in 2014. After buying Cardano (ADA) on eToro, it’s possible to transfer them to the broker’s wallet – eToro Money.

From eToro Money, you can transfer your cryptos to other wallets.

The easiest way to buy Cardano (ADA) is to use the eToro platform, which allows you to buy ADA cryptos without owning a wallet.

eToro

  • Simplified Accessibility
  • Supports 120+ cryptocurrencies
  • Integration with eToro

Exodus

Exodus is a desktop wallet for cryptocurrencies. It is a downloadable application on Windows, Mac, and Linux operating systems. It is a stand-alone wallet that runs locally on your computer. No registration is required to use the Exodus cryptocurrency wallet.

A 12-word recovery phrase is one of Exodus Wallet’s most important security features. This security feature allows you to recover your funds if your device is changed or lost.

The assets contained in Exodus can only be accessed by their owners. The wallet provider cannot access your cryptocurrencies. And no one else can unless they have the 12-word recovery phrase.

Exodus

  • Multicurrency support
  • Automatically adjustable fees
  • Responsive customer support

 

Trust Wallet

Trust Wallet is also a custody-free wallet like Exodus that gives you total control over your cryptos. With Trust Wallet, you can store a variety of cryptocurrencies, including NFTs. Being directly connected to the Internet qualifies Trust Wallet as a hot wallet. In addition to Android and iOS apps, Trust Wallet also has a browser extension.

Trust Wallet can support 65 different blockchains, with the capacity to store 4.5 million cryptocurrencies. In 2018, Binance acquired Trust Wallet, making it the company’s official custody-free wallet.

Creating a Cardano address (ADA) on Trust Wallet

To create a Cardano Wallet Address (ADA) on Trust Wallet, simply follow these steps:

  • Download and install Trust Wallet on your device.
  • From the device home page, click on the button in the top right-hand corner.
cardano on trust wallet
  • Click on “+” to “add a custom token”.
what is trust wallet
  • In the new window that appears, add the requested details in the fields provided. These details are as follows:
  • Contract address (Binance network):

0x3EE2200Efb3400fAbB9AacF31297cBdD1d435D47 

  • Name: Cardano
  • Symbol: ADA
  • Decimals: 18 
custom token cardano
  • Once this process is complete, Cardano (ADA) will appear in your token list with your unique address for receiving ADA tokens on the BNB network.

MetaMask

Cardano is not an Ethereum Virtual Machine (EVM)-compatible blockchain, which means it is not supported by MetaMask. However, you can add ADAs from the BNB Chain, a blockchain supported by MetaMask.

This hot wallet has a browser extension for Chrome, Firefox, Opera and Brave.

With MetaMask, you have total control over your cryptos. The browser extension gives you easy access to decentralized exchanges, as well as other decentralized applications. The wallet can also be synchronized with physical wallets like Ledger Nano X.

MetaMask

  • Multi-platform access
  • Non-custodial wallet
  • Multi-network interoperability

Binance

Binance is the world’s largest cryptocurrency exchange in terms of trading volume. It was founded in 2017, and is popular for the large number of cryptos it offers. Like any exchange, Binance offers hot wallets, which is the case for Cardano.

Over 1,500 cryptocurrencies and blockchain tokens are listed on Binance, and the platform is available on PC, Web, iOS, and Android. Binance’s services are centralized and subject to jurisdictional regulations. The exchange has PSAN status in France. As a Binance user, you must verify your identity (KYC).

Binance

  • Wallet designed for DeFi
  • Renowned exchange wallet
  • Total control over your cryptocurrencies.

Cardano cold wallets (hardware or cold wallets)

cardano cold wallet

What are the best wallets for Cardano? Cold wallets are considered the safest category of cryptocurrency wallets. The ability to store cryptocurrencies offline, away from the prying eyes of Internet hackers, sets cold wallets apart.

In addition to the offline storage of cryptocurrencies, transactions carried out using cold wallets require manual confirmation. As a result, you retain full control over your digital assets and the processes involved in using them.

Cold wallets are especially preferable when you have large quantities of cryptos to store, and don’t need to use them frequently. They are so highly rated because of their high security, offline storage of private keys, manual confirmation of transactions and PIN protection of devices.

Limitations of using cold wallets include the cost of acquisition (they are not free), the complexity of handling most of them for a beginner. Here are a few examples of cold wallets from our comparison.

Advantage cold wallet CardanoCardano cold wallet disadvantages
High securityPayment method
Private keys are stored offlineComplexity of handling
Manual transaction confirmation in the device
Additional PIN protection for the device

Ledger Nano X

The Ledger Nano X is highly rated in terms of security. It is an enhanced version of the Ledger Nano S hardware wallet.

To operate the Ledger Nano X cold wallet, you need to plug it into a device where the Ledger Live interface has already been installed. It also features Bluetooth functionality, enabling the cold wallet to be connected to a smartphone and the Ledger Live mobile app. The Ledger Nano X thus becomes a hybrid between a cold wallet and a software wallet.

The Ledger Nano X cold wallet can manage up to 100 cryptocurrencies simultaneously.

Ledger

  • Portability and durability
  • Integration with applications and services

Ledger

4.3

Sign up

KeepKey

KeepKey is the first wallet from the ShapeShift platform, a web-based interface that gives you access to your portfolio management. With KeepKey, your digital assets are stored offline. You only connect to your device when you want to make transactions.

KeepKey has no operating system, so viruses, malware and keyloggers can’t exist on the device.

KeepKey is compatible with PC, Mac, Linux and Android devices. It’s a USB HID device, which means you don’t need another input device like a mouse or keyboard to run KeepKey. Simply plug in the device via the USB port and continue with your operations from the device.

Trezor

Trezor is one of the most reliable crypto cold wallets on the market. It’s portable, easy to use and lets you create and store private keys for your wallets offline. This allows you to initiate and sign transactions offline, safe from hackers, malware and other security threats.

It’s simple to operate, too. In just a few minutes, you can plug Trezor into your device and carry out your transactions.

Wallet Cardano – our final opinion

Now you know which wallets to choose, depending on your budget and desired level of security. Almost all the top Cardano wallets support hundreds of other assets. The main difference between them lies in ease of use. Mobile wallets like Trust Wallet are generally the most user-friendly without compromising on security. What’s more, you can buy your ADA directly on their integrated exchanges.

FAQ - Frequently asked questions about Cardano Wallet

A Cardano wallet is a software or physical device that can store Cardano crypto (ADA) after their acquisition.
To create a Cardano wallet, simply register on a platform that offers Cardano wallet services, such as Trust Wallet.
You can generate a Cardano address by clicking on the Receive tab in your wallet.
First, you need to choose between an online or offline ADA wallet. The former offers greater ease of use and accessibility, while the latter offers greater security.
It all depends on your preferences and how you want to use your ADA tokens. For long-term storage without the need for frequent use, a cold wallet is ideal. Otherwise, a hot wallet is more suitable.