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As cryptocurrency and NFTs become more commonplace, reliable web3 wallets are quickly becoming necessary. Both casual traders and long-term investors can benefit from having a reliable wallet to store their cryptocurrency and other digital assets. Some wallets even allow you to stake your assets with the click of a button. Others allow you to quickly look at your portfolio, and make fast financial decisions. Whether you’re trying to find the best way to collect GameFi rewards, store your NFT collection or regularly trade crypto, this guide will help you learn about 18 of the best web3 wallets available.
Web3 wallets are a form of digital storage for non-fungible tokens, cryptocurrencies and other digital assets. Web3 wallets function similarly to a normal crypto wallet, however, they come with the added function of being able to interact with a variety of decentralized applications (DApps). In fact, some web3 wallets are specifically designed to interact with a single blockchain, or to store NFTs.
There are two different types of web3 wallets. Cold wallets are a type of hardware wallet made to store your assets offline. Long-term investors who aren’t trading every day, or who want to keep a large portion of their assets secure, often use cold wallets. Because the wallet is offline most of the time, it’s less susceptible to scams and hackers.
Software wallets are known as hot wallets. They rely on various applications to function. Hot wallets are DApps that are always connected to the internet. You can usually access a hot wallet via an app on your smartphone, or on an internet browser. While this does make your assets slightly more vulnerable to hackers, it’s a practical choice for active traders. Hot wallets are also known for their simple interfaces, making them popular among beginning traders and investors.