Here you will review the most secure top-rated Cardano Wallets along with features, pros, cons, comparisons, etc:
ADA is a cryptocurrency or coin built on the Cardano blockchain. The latter uses the Ouroboros Praos proof of stake algorithm, which is more energy-efficient compared to proof of work.
It is the first blockchain protocol based on peer-reviewed research. Cardano currently has 2,924 validators from around the world. ADA is traded against over 391 pairs across 100+ cryptocurrency exchanges where it is listed.
This tutorial discusses different Cardano wallets, each of which comprises different features.
Let us begin!
What You Will Learn:
- Cardano ADA Wallets – Review
- How Cardano Wallet Works
- ADA Wallet FAQs
- List of Top Cardano Wallet
Cardano ADA Wallets – Review
- Cardano manages a $600 million+ daily trading volume. It has a market cap of $16 billion, which makes it number 8 in the list of top 10 cryptos by market capitalization.
- Its maximum supply is 45 billion ADA tokens and the current circulating supply is 33 billion+ tokens.
- Cardano can be traded in over 100+ crypto exchanges against 391+ pairs on the spot market. Cardano is also available for trading as futures products on Huobi, Binance, FTX, and BitMEX. For perpetual futures, Cardano can be traded in over 30 exchanges supporting perpetual futures trading.
- The best Cardano wallets support extra features beyond normal sending, receiving, and holding ADA crypto unless you are looking to support the network as a standalone staking node and win staking rewards. The extra features include staking in a staking pool, speculative trading, swapping, buying and selling against USD and other national currencies, etc.
- Hardware wallets for Cardano are excellent for holding and trading huge volumes of crypto most securely. Otherwise, any wallet on an exchange with extra security features should be good to go.
- Non-custodian Cardano ADA wallets allow you to store your own private keys and in case of hardware getting spoilt, you can recover with recovery seed. Make sure to write down the recovery phrase when creating the wallet and store it securely.
How Cardano Wallet Works
How Cardano wallet works depends on the type and operating system platform on which it is installed. We have different types of Cardano wallets – Cardano cold wallets, Cardano hardware wallets, Cardano hot wallets, Cardano desktop wallets, and Cardano mobile (Android and iOS) wallets.
We also have Cardano web wallets (mostly both web and software wallets), and Cardano paper wallets. There are also Cardano web extensions (mostly Chrome and Mozilla Firefox web extensions). Software wallets can then further be categorized in terms of the platform on which they run or are installed.
Those installed on cloud servers are referred to as Cardano cloud wallets. Wallets for Cardano are also categorized based on the specific platform in question – Ubuntu or Linux, Windows, and macOS Cardano wallets.
#1) Web wallets work by the user visiting the website in question and creating a user account. Most now require at least basic multi-tiered level verification where the user must submit a copy of their ID, phone, and other details.
Verifications can be automatic or delayed. A wallet will be created automatically when the user creates the account. Some of these web interfaces allow a user to connect to another wallet, such as a web extension.
The user can then log in, deposit USD and other fiat currencies, or buy instantly with methods like credit card and bank account, and start trading.
#2) Software wallets are downloadable files. They can be downloaded from the wallet websites in question or from Android and iOS and other app stores. Wallets require being installed on the platforms in question and then used like normal software.
The user will sign up and verify the account through the software or by syncing with a hardware wallet for those hardware wallets that work with synched software – and most do.
Software wallets, in some cases, provide non-custodial wallets that are created automatically when the user signs up, and in other cases. The user will need to copy the backup passphrase when signing up and keep it safe for wallet restoration if need be.
The user will then continue to use the Cardano crypto wallet normally, such as depositing, withdrawing, and trading.
#3) Hardware wallets mostly work alongside software that needs to sync with it. Note that hardware wallets store Cardano and other cryptocurrencies as well. Like other Cardano, hardware software wallets are installed on the hardware device while the wallet is hooked to the hardware through Bluetooth, USB cable, Wi-Fi, or other methods.
All hardware wallets do have their own procedures for setting up. Basically, the user needs to connect the hardware to the computer to sync it with the software wallet counterpart. The setting up is done with the two counterparts ready.
The user needs to follow the on-screen procedures on the hardware to set it up – including setting a password, writing down the passphrase for recovery, and verifying send transactions.
The hardware will then be ready to store private keys or the actual cryptocurrency. The user connects the hardware wallet to the computer when transacting but can verify Send transactions offline when the device is disconnected from the computer.
#4) Some hardware devices are air-gapped, meaning they do not communicate with the computer in any way. They will have the onboard software that they work with to allow setting up, sending, receiving, and backing up cryptocurrencies.
#5) Cardano native wallets and other types may have Cardano staking capabilities. Staking requires the user to tweak a button to start staking or deposit the Cardano crypto in the wallet.
Hot and Cold Cardano Wallets
Hot wallets are mostly cloud-based and other software installed on mobile and PC platforms for transacting and storing cryptocurrencies. They can be hosted/custodial or non-hosted/non-custodial.
By hosted/custodial we mean the software is run on the cloud (or is based on a cloud-run database) and provided to clients or the public as a software-as-a-service by a company, crypto team/group, or a cryptocurrency exchange.
Most of these are multi-sig wallets that require both parties (the client and company/exchange/other) to submit a pair of private keys to verify a transaction.
Hosted wallets do not have the capability for the user to store their private keys and cannot use passphrases to restore. The company that owns a database/cloud application or platform basically controlled the private keys or cryptocurrency. The user controls the wallet through a password, 2FA authentication, and other methods.
By non-hosted/non-custodial, we mean the software will leave the private key on the user’s mobile, PC hardware, or cloud platform. The user will control the private key and so the cryptocurrencies. This requires the user to take individual responsibility by saving and securing the passphrase for restoring the wallet in case the password is lost.
ADA Wallet FAQs
Q #1) What is the best wallet for Cardano?
Answer: The best Cardano wallets allow for staking ADA, buying with USD/EURO and other currencies, and active trading. Some of the best wallets for ADA include Exodus, Daedalus wallet, Eternl, Yoroi Wallet, Typhon Wallet, AdaLite Wallet (Web), Ellipal Titan, Gemini, Coinbase, and Cex.io.
Cardano ADA has native wallets like AdaLite but these cannot be used for running a full node like Daedalus.
Q #2) What is the official wallet for Cardano?
Answer: Daedalus is the official wallet for Cardano ADA that can run a full Cardano node. It works on a desktop. The wallet creates multiple accounts, which can all be secured by means of a single wallet password and seed passphrase. The seed can recover the accounts in case the device on which the previous wallet was installed spoils or is stolen.
However, the wallet cannot be used for extra functions like trading cryptocurrencies.
Q #3) How do I get a Cardano wallet?
Answer: Cardano wallet can be created on several applications (websites, dApps, exchanges, trading apps, and blockchains) that can be run or installed on computers and mobile phones. These wallets where to store Cardano include Exodus, Daedalus wallet, Eternl, Yoroi Wallet, Typhon Wallet, AdaLite Wallet (Web), Ellipal Titan, Gemini, Coinbase, and Cex.io.
Simply open these websites or apps and proceed to create an account on them and you will get a wallet.
Q #4) What hardware wallet holds Cardano?
Answer: Almost every hardware cryptocurrency wallet can store Cardano ADA. These hardware wallets where to store Cardano are Ellipal Titan, Trezor Model T, and Ledger Nano X, among others. Each of these wallets also represents the best place to stake ADA.
Hardware wallets comprise additional security measures to protect the cryptocurrencies stored in them. For instance, the technology is secure-certified. Secondly, the signing of send transaction can be done offline.
Q #5) Which wallet is best for staking Cardano?
Answer: Cardano is staked on multiple wallets including Exodus, Daedalus wallet, Eternl, Yoroi Wallet, Typhon Wallet, AdaLite Wallet (Web), Gemini, Coinbase, Cex.io, and many others. Daedalus is used to run a full node and node operators still verify transactions in exchange for passive income in the form of block rewards.
Other wallets are lightweight clients on which crypto is staked by delegating to staking pools for a share of the block reward based on the invested amount. Each of the central exchanges is also the best place to stake ADA because they provide an opportunity to stake as few ADA coins as possible.
Q #6) Can I store Cardano on Coinbase wallet?
Answer: Cardano is now listed on Coinbase wallet. For that reason, customers of the crypto exchange can hold or buy and sell it for USD/EURO, exchange it for other cryptocurrencies, or trade it actively on the spot or futures market. There are other products on Coinbase that may be of benefit to ADA holders, such as staking and borrowing.
List of Top Cardano Wallet
Some remarkable ADA Wallets list:
- Daedalus Wallet
- Yoroi Wallet
- Typhon Wallet
- AdaLite Wallet (Web)
- Ellipal Titan
- Trezor Model T
- Ledger Nano X
- Simple Hold
Comparison of Some Best Wallets for Cardano
|Wallets||Cryptos supported||Type of wallet||Buying/exchanging ADA with other cryptos||Price|
|Exodus||225+ cryptocurrencies, including ADA||Web and desktop wallet.||Buy with fiat. Trade ADA against other cryptos.||Free|
|Daedalus Wallet||Only ADA.||Desktop||No buying, no trading against other cryptos.||Free|
|Eternl||ADA and native tokens.||Web wallet.||Crypto swapping.||Free|
|Yoroi Wallet||ADA and native tokens.||Mobile wallet (Android and iOS), Windows, Linux, and macOS.||No buying or trading.||Free|
|Typhon Wallet||ADA and native tokens; Ergo blockchain and its native tokens.||Web wallet, extension for Chrome and Chrome-based browsers.||Buying and selling. Exchanging supported.||Free|
Uphold enables you to buy Cardano and 210+ other cryptos after signing up and verifying your account and personal details. It is not only regulated under FINCEN but also maintains insurance policy against theft of customer assets and states that it keeps 90% in cold storage.
Uphold is a popular place for trading high and low-liquidity coins and tokens given its overall high liquidity, but customers also get the advantage of seamlessly exchanging one asset for another with little hassle. It supports crypto, fiat, and precious metals like gold and stocks.
For Cardano users, you can stake the cryptocurrency to earn a reward of 5% APY. Other than Cardano, you can stake 20+ other assets on the platform. You can also buy and sell Cardano for fiat via bank, Google Pay, Apple Pay, and other payment methods.
Type of wallet: Software – web, iOS, and Android.
Cryptos supported: 210+ including Cardano.
- Hosted custodial Cardano wallet.
- Send/receive and store Cardano in your Uphold wallet.
- Low trading spreads of between 0.8% AND 1.95% depending on which crypto being traded.
- Trading and usage resources.
- Spend Cardano and other crypto via the Uphold debit card, on ATMs and other merchant stores.
- Daily newsletters – know crypto market movements before trading or as your trade.
- Limitless orders – place up to 50 limit orders with one pool of capital. The funds are claimed on execution.
- Environmental assets include carbon tokens for those mindful of the environmental issues.
- Worry not about crypto custody thanks to the Uphold’s custody service.
- Cross-asset trading.
- Earn cash back rewards by spending crypto on purchases.
- No deposit, withdrawal, or trading fees. The platform charges trading spreads.
- Limited advanced trading – only limit type of orders are supported.
- Relatively higher trading spreads compared to other platforms.
- Customer might struggle trading newer and low-liquidity tokens.
Verdict: Uphold is most favorite for cross-trading assets – cryptocurrency, fiat, stocks, and precious metals such as gold.
Exodus wallet lets customers send, receive, hold, and manage 225+ cryptocurrencies, including ADA, on Desktop, mobile, and hardware wallets. Besides, customers can trade supported cryptocurrencies in USD, Euro, and GBP (using credit/debit cards, bank transfers, or Apple Pay) at zero fees. It also lets users trade crypto for another.
They can track portfolio balances, track prices and price changes over time, and do detailed charting. The other best thing you can do with your Exodus Cardano wallet is to stake the ADA to earn a passive income. Staking is supported by a total of six cryptocurrencies.
Type of Wallet: Hot wallet – They have a desktop, mobile, and browser extension version. It also allows connecting to the Trezor hardware wallet.
Cryptos Supported: 225+ cryptocurrencies, including ADA.
- Buy ADA with fiat that deposits crypto and swaps with other cryptos.
- Exchange ADA or any crypto to USD on the FTX exchange app and withdraw to a bank account.
- Exodus crypto apps – The wallet supports different apps to extend functionality, including allowing users to stake ADA and six other cryptos, earn.
- You have control of your private keys when using this Cardona wallet.
- Exchange crypto without limits on the number of trades.
- Connect to other apps and exchanges via APIs, for instance, for active and advanced trading.
- No advanced order types on this Cardona wallet, for instance, limit or stop orders. Simply swapping.
Verdict: Exodus wallet is for crypto enthusiasts and advanced users who are interested in a wallet with advanced features like staking, beyond a normal exchange. Although the exchange only supports buying with fiat, it supports only swapping crypto for another. The wallet also lets you keep your own private keys for advanced security.
Price: Free to download and use.
#3) Daedalus Wallet
Daedalus wallet is a desktop (Linux, Windows, and macOS) wallet made for and supports ADA cryptocurrency only. The full node wallet downloads a full Cardano blockchain and verifies transactions on the network. Compared to some other wallets, this is considered heavy because the user must run a full blockchain.
Type of Wallet: Desktop, Hot wallet
Cryptos Supported: ADA
- Receive crypto news and make decisions that matter when using this wallet for Cardano.
- Customize the theme for your preferred feel and look.
- Run multiple wallet accounts.
- Keep your private key for security purposes when using this Cardona wallet.
- Hierarchical deterministic wallet, which means it uses a seed to generate a public and private key for each transaction.
- Fully secure with passwords, backup, recovery, and recovery seeds.
- Supports only ADA crypto.
- No in-built exchanges or other additional features.
Verdict: This is the crypto wallet to go for if you are an ardent Cardano ADA user because it allows you to support the blockchain. For traders and diversified crypto users, this may not be a favorite.
Website: Daedalus Wallet
Eternl is a Cardano light wallet browser-based client (web and Android wallet) that lets Cardano customers and users interact with the blockchain. Without downloading the entire blockchain like what happens with the Daedalus wallet, they can send, receive, and store ADA cryptocurrency.
Other features in this wallet for Cardano include staking, swapping through DeFi exchanges, and NFT display and trading,
It also lets users monitor their ADA balances. The wallet also allows users to connect their wallets to Cardano dApps and register for Catalyst voting. It also works through a Chrome extension as well as an Android app.
Type of Wallet: Web hot wallet
Cryptos Supported: ADA and native tokens
- Display NFTs.
- Address book.
- Stake your ADA with 3000 staking pools.
- Future features will include, dApps, smart contract support, wallet locking, CSV exports, among others.
- Additional features like peer-to-peer trading, NFTs, and staking for those looking for a more detailed ADA wallet.
- Mostly for ADA supporters. Not optimized for other cryptos.
Verdict: Eternl is one of the best ADA wallets that provides a lightweight client for connecting and interacting with the Cardano blockchain without having to download the entire blockchain. But it is a more preferable option for those looking for a native ADA wallet with additional benefits like staking, NFTs, DeFi, and peer-to-peer trading.
#5) Yoroi Wallet
This is one of the best ADA wallets because it provides a lightweight mobile and desktop wallet client for Cardano ADA lovers. They do not need to download the entire blockchain to carry out basic operations such as sending and receiving crypto. It was built by the Emurgo foundation.
The Cardano wallet also supports the listing and trading of NFTs. This ADA wallet comprises a Yoroi dApp connector that lets users interact with other dApps like NFT and DeFi dApps.
Type of Wallet: Mobile wallet (Android and iOS), Windows, Linux, and macOS.
Cryptos Supported: ADA and native tokens; Ergo blockchain and its native tokens.
- Support staking for users to earn passive income on their ADA tokens. Select from multiple pools to which you will delete the staking coins.
- Security protocols include wallet password and recovery seed in case the phone is damaged or lost, or the app is deleted and there is no backup of the app. Make sure to write the recovery seed and save the paper.
- Expected features this year – fiat/national currencies on/off ramps, mobile dApp connector, web and mobile NFT gallery, multi-asset transaction, fiat pairing, and a dApp store.
- Extra features like NFTs and DeFi besides basic ADA sending and receiving.
- Privacy and security – passwords and recovery seed.
- Lightweight memory consumption.
- No fiat support for buying and selling ADA.
- Users can’t run their own nodes or connect to other nodes.
Verdict: Yoroi Wallet is made for those looking for a native ADA wallet with expansive features beyond sending, receiving, and holding, and it exactly delivers that. Continuous development will also definitely see it add more features.
Website: Yoroi Wallet
#6) Typhon Wallet
This is a native web wallet and browser extension wallet for Cardano ADA that serves as a light client for the blockchain. It supports the staking of ADA over staking pools of your choice to earn passive income. You can also buy, sell, and collect NFTs using the wallet. Besides, it connects to the Ledger Nano S, Ledger Nano X, and Trezor T hardware wallets.
Type of Wallet: Web wallet, extension for Chrome and Chrome-based browsers.
Cryptos Supported: ADA and native tokens.
- Multi-signature transaction signing.
- Non-custodian meaning you keep your own private keys.
- Send and receive cryptos with metadata like receipt numbers.
- Secure your Cardano wallet with a password and restore it with a passphrase or seed.
- Stake ADA on multiple staking pools (delegation pools).
- Create as many accounts as possible for storing ADA.
- Catalyst voting for proposals.
- Choose multiple addresses (HD) wallets or operate with just a single address wallet.
- Secure and simple wallet for ADA.
- Support for multi-signature transactions means people can use it to secure group and company assets and transactions.
- Fits for crypto payments given it supports metadata such as receipt numbers on transactions.
- Support for hardware wallets.
- Suitable for hardcore ADA supporters.
Verdict: Wallet is most suitable for hardcore ADA supporters since it supports only ADA and the blockchains dApp tokens like NFT tokens. However, it supports extra features like staking, DeFi, and NFTs.
Website: Typhon Wallet
#7) AdaLite Wallet (Web)
Formerly CardanoLite, AdaLite is a native browser-based (web) Cardano ADA wallet developed by Slovakian-based VacuumLabs. It supports mnemonic; hardware wallets (Trezor T, Ledger Nano S, Ledger Nano S Plus, Ledger Nano X, Android, and BitBox02); and key file access.
The cryptocurrency wallet supports staking. In staking ADA, the user can choose a delegating pool on which to stake the ADA. The platform currently has 34,501 stakers. It also supports the staking of SOL and Flow tokens.
Type of Wallet: Software, hot wallet.
Cryptos Supported: 1,000+ cryptocurrencies, including those supported on Ledger, Trezor, and BitBox devices.
- Earn 3% rewards staking ADA.
- NFT management and trading.
- Interoperable with Yoroi and other Icarus-based wallets.
- Normal sending, receiving, and staking Cardano.
- Uses either 12, 15, 24, or 27-word mnemonic seed phrase for a new or existing backed-up wallet.
- No need to download the entire blockchain.
- Support for multiple hardware wallets adds extra security features. The private keys are, in this way, stored in the hardware wallet.
- You may need to download additional bridges when connecting some hardware wallets like BitBox02 if not using the Chrome browser.
Verdict: AdaLite provides very quick access to the Cardano blockchain and provides the capability to secure cryptocurrency with various hardware wallets for security-agnostic users. The drawback is that it does not support trading like some other lightweight clients.
Website: AdaLite Wallet (Web)
#8) Ellipal Titan
Ellipal Titan is a multi-cryptocurrency hardware wallet owned by a Hong Kong-based blockchain company called Ellipal Limited. The device uses air-gapped wallet technology. It is made to protect users against disassembly, online, remote, and physical attacks and hacking. It removes risks like connecting through USB and Bluetooth.
For instance, users can transfer/send crypto offline with it by scanning a QR code. It runs on Android or iOS operating systems.
The wallet supports storage, sending, and receiving ADA as well as assets across 40+ blockchains and 10,000+ tokens. Users can also swap ADA for thousands of other cryptos and tokens within the app. They can also buy and sell crypto for fiat or national/international currencies like USD and Euro through Swift and Simplex as well as Changelly and MoonPay integrations.
Type of Wallet: Hardware wallet
Cryptos Supported: ADA, Bitcoin, Ethereum, plus other 41+ coins and 10,000+ tokens.
- Measures 119.4x64x9.9 mm and weighs 16g. 650-Hour Lithium battery. Camera to scan QR code.
- The device works together with Ellipal App to do transactions or other operations.
- Large touchscreen display is enough to interact with wallet and device’s apps.
- Smartphone apps to extend their capability.
- Prevention of wallets against breakage. It deletes wallets on detecting a break. Breaking the device causes considerable damage to the wallet.
- HD wallet.
- No PC is needed for validating transactions.
- Private keys are stored on the device.
- The touchscreen makes it easier to use.
- Protection of wallet in case the device is broken into physically.
- It may be too big and heavy compared to popular hardware wallets.
- Expensive compared to basic hardware wallets.
- No desktop compatibility.
Verdict: This is one of the most secure ADA hardware wallets with additional protection against physical tampering. The fact that it contains in-built crypto swaps, as well as buying and selling of crypto, makes it more suitable, especially for the corporate world.
Website: Ellipal Titan
Gemini is a cryptocurrency exchange that lets users buy and sell crypto like ADA for fiat (national/international currencies) using debit/credit cards and ACH (deposits and withdrawals). It also supports buying ADA with other cryptos deposited in hosted wallets.
In addition, Gemini customers can actively trade crypto using advanced price speculation strategies like advanced trading orders and charting/other price or market analysis tools. Other features include staking ADA and other cryptos to earn passive income on the wallet.
Gemini Custody is a feature that lets institutional customers store and manage digital assets for their customers in a secure environment. Other products include Gemini Clearing or over-the-counter trading, and Gemini Credit Card for regular spenders of ADA and other cryptos to earn cashback rewards on crypto purchases.
Type of Wallet: Hot wallet. Mobile (Android and iOS) wallet. Web wallet.
Cryptos Supported: ADA plus 10 native assets, ERC-20 tokens, stablecoins, SPL tokens.
- Gemini Prime will be launched in Q3. The brokerage will offer access to trading, settlement, custody, and financing services. It will offer API connectivity to trading platforms and crypto exchanges for liquidity, OTC, and other trading aspects.
- Custody for wealth and asset managers.
- Portfolio tracking. Price tracking.
- Hardware wallet integrations.
- Regulated exchange.
- Institutional custody and trading capability.
- Detailed/advanced tools for regular/advanced speculative traders.
- Not tailored for ADA only. ADA is not supported for staking and some other products.
Verdict: Gemini is one of the best U.S.-based exchanges for actively trading ADA within a regulated environment. It also supports OTC and other institutional-focused products.
Price: Free to use.
Coinbase is also a regulated cryptocurrency exchange that enables users to buy, sell, hold, invest, earn, and actively trade ADA and 150+ other cryptocurrencies. Customers can buy cryptocurrencies using fiat currencies via bank, credit card, debit card, PayPal (with linked credit/debit card), and other methods.
Other products helpful for Cardano ADA customers include staking (stake from $1 worth), speculative trading based on advanced market analyses, and the use of advanced order types and borrowing. Coinbase Commerce is also helpful to those who want to pay and get paid for goods and services with Cardano and other cryptos.
Coinbase also has Coinbase Card that lets users convert and spend crypto easily at Visa merchant stores while earning cash rewards in crypto.
Type of Wallet: Hot wallet, mobile wallet.
Cryptos Supported: Cardano ADA, plus 150+ others.
- NFTs listing and trading; crypto listing; etc.
- Institutional-focused products such as custody, liquidity, and other APIs, and trading such as OTC.
- Syncs with cold wallets.
- Developer tools – SDKs and APIs.
- Coinbase Learn to get information about crypto trading, investing, and other matters of crypto.
- Coinbase Pro for reduced trading fees.
- Hold crypto in a secure wallet.
- High liquidity access for institutional traders and brokers.
- Advanced trading tools for speculative traders.
- Developer tools are available.
- Not specifically suited for Cardano ADA crypto only.
Verdict: Coinbase crypto exchange is well-known for institutional products like cold staking and trading, but also for the regular trader interested in buying, selling, and exchanging crypto. It supports multiple features for Cardano users.
CEX.io is a cryptocurrency exchange that enables users to buy, sell, trade, and earn crypto from staking. Customers can buy 100+ cryptocurrencies (including ADA) with debit and credit cards. It supports spot trading with the market and advanced order types for speculative traders.
Other features that can benefit ADA traders and holders include leveraged trading, staking, and crypto loans. CEX.io Prime is an institutional trading platform that also supports crypto-fiat pairs and crypto APIs for advanced traders and developers.
Type of Wallet: Web wallet, Mobile wallet.
Cryptos Supported: ADA plus 100+ others.
- Mobile app as well as web app.
- Speculation trading with APIs that can connect to a bot and advanced trading tools.
- Monitor price and portfolio in the wallet. Monitor trade and trade history. Set custom orders and trade ADA with advanced order types.
- Monitor open orders and manage existing ones including canceling.
- Suitable for ADA holders as well as advanced speculative traders.
- Institutional products for traders, brokers, and corporate planning crypto integrations and trading.
- Not designed natively for ADA.
Verdict: CEX.io is an advanced exchange and trading platform for ADA users who are looking for speculative trading and exchanging tools beyond holding and mere swapping. It also supports buying cryptocurrency with fiats like USD and Euro and has institution-tailored products.
CoinSmart cryptocurrency exchange is based in Toronto and was founded in 2018. The exchange is accessible in 40+ countries. It allows customers to buy cryptocurrencies using CAD, EUR, and USD. Customers can fund their accounts using Interac e-Transfer, wire transfer, bank draft, cryptocurrency, credit card, and debit card.
The assets are insured for up to $100 million for the purposes of security. This is in addition to having 95% of crypto kept in cold storage. The app works over the web as well as on Android and iOS. However, despite having a low trading fee of $0.2%, debit, and credit card transactions can be very costly (up to 6%). The fee for depositing less than $2,000 is 1.5%.
#13) Trezor Model T
Trezor Model T compensates for its being the most expensive hardware with its premium security and other features. The open-source wallet by SatoshiLabs supports 1,600+ cryptocurrencies and allows users to buy, sell, and actively trade them from within the hardware wallet. Thus, it is suitable for both hodlers and active traders alike.
The wallet features a touchscreen and two control side buttons. It works with Windows, macOS, Linux, and Android via OTG. It connects to a web-based wallet app to allow sending, receiving, buying, selling, and exchanging crypto.
Price: 249 Euro
Website: Trezor Model T
#14) Ledger Nano X
Ledger Nano X is a hardware wallet that supports the storage and trading of 5,500+ cryptocurrencies, including Cardano ADA, Bitcoin, Ethereum, and Litecoin. Ledger Nano X manages more apps (100) than Ledger Nano S.
These apps can be installed after the device is paired to Ledger Live app on a computer or mobile phone. They can also be installed via the upcoming Chrome extension version of Ledger Live.
Today, it also supports NFT collecting, sending, and receiving.
Website: Ledger Nano X
Binance is a cryptocurrency exchange that supports buying, selling, and exchanging 600+ cryptocurrencies including Cardano ADA. The exchange lets people benefit from other products like staking cryptos, copy trade, NFTs, and buying goods and services with crypto, among others.
Binance also supports institutional and VIP services like OTC trading, APIs, brokerage programs, and liquidity programs. Institutions that can benefit include asset managers, brokers, hedge funds, family offices, proprietary trading firms, liquidity providers, mining companies, HNWIs, and more.
SimpleHold is a non-custodial iOS, Android, and web wallet that supports over 300 cryptocurrencies and fiat currencies. The web version enables users to buy and sell cryptocurrencies using SimpleSwap integration.
The wallet also stores NFTs of the ERC-721 protocol.
This tutorial discusses Cardano ADA cryptocurrency, its stats, markets (spot and futures), as well as top wallets for ADA. Most of the wallets on this list are tailored for ADA natively or from the ground up, except for dedicated crypto exchanges that support multiple cryptocurrencies.
We suggest a Daedalus wallet for those looking for a full node ADA wallet. Otherwise, Eternl, Yoroi Wallet, Typhon Wallet, and AdaLite Wallet are light clients but with staking, NFT, and trading/exchanging features.
The Ellipal Titan, Trezor, is Ledger Nano are hardware wallets for security-agnostic users and for huge volume trading. Gemini, Coinbase, and Cex.io are more advanced trading platforms for ADA active traders and institutional traders/users. These also include borrowing, staking, institutional custody, leverage trading, bot trading, and API features that are helpful to ADA users.
- Total Wallets Listed for Review: 16
- Total Wallets Actually Reviewed: 15
- Time Taken to research and write this tutorial: 30 days