Top 5 Best Web3 Wallets in 2022

1. MetaMask

MetaMask is the best Web3 wallet and the one that most people use. It comes as a browser extension that is easy to set up and can be used to interact with any Ethereum-based decentralized application (dApp). Users of MetaMask can buy Ethereum directly from their wallets, without having to use an exchange or trading platform. With the help of a web3 wallet development company you can make your own web3 wallet. 

MetaMask is used by more than 30 million people who use crypto. It’s a great way to join the vast and rich world of DeFi without having to go to jail. The wallet works with more blockchains than just Ethereum. All you have to do to trade your BNB or Harmony tokens is switch from one network to another.

Remember that MetaMask is a hot wallet that runs on software. Your private key is kept in the extension that you have installed on your browser. That means that if someone gets into your computer, they can get to your wallet. I think you should be very careful when you use MetaMask to keep yourself safe from harm.

2. Phantom

Phantom is yet another wallet that uses extensions and was made just for Solana investors. You can use any dApp on Solana with the wallet. It also lets you buy and sell NFTs on Solana’s billion-dollar market.

Phantom is an easy-to-use Web3 wallet that lets you buy, send, swap, and receive cryptocurrencies and NFTs that are based on SOL. It’s a browser wallet that works with Chrome, Brave, Firefox, and Edge. You can also put it on your iOS or Android device as an app.

Phantom doesn’t keep your private key and keeps it in the extension. But if you connect your Phantom wallet to your Ledger, you can add an extra layer of security. If you do this, you will have to confirm transactions directly through the Ledger. This means that no one can access your funds online and steal them.

Phantom has one of the best user experiences (UX) on the market for web3 wallets. But the wallet only works with Solana and not any other blockchain.

3. The rainbow

Rainbow is another popular Web3 wallet for the Ethereum ecosystem that doesn’t hold your money. You can get the wallet as a browser extension or as an app for your Android or iOS device. Rainbow can talk directly to Ethereum’s DeFi dApps, which means it can do transactions and swap tokens. Your NFT collectibles, yield farming pools, and savings are also shown in the wallet.

Like Phantom, Rainbow has a UX that is very sleek and easy to use. I recommend it to people who are new to DeFi and don’t know much about it. But keep in mind that since it’s a hot wallet, you should keep your money safe and avoid links or apps that could harm you.

4. Trust Wallet

I’m going to tell you about something completely different now. It’s called the TrustWallet. This wallet works with multiple assets and doesn’t care about the blockchain. Your iOS or Android device can download Trust Wallet. You can hold both NFTs and cryptocurrencies.

The most surprising thing about Trust Wallet is that it has a dApp browser built in. Yes, you can look at many different kinds of decentralized apps right from the Trust Wallet. You can trade tokens, buy or sell NFTs, borrow assets, or put assets into a yield farm to interact with them in different ways.

Keep in mind that Trust Wallet is not an add-on for your browser. You won’t be able to use Trust Wallet on your PC or laptop by loading it from your browser. This is a pretty big restriction because it means you can only use DeFi from your phone. But the dApp browser, which is very well made, makes up for it.

5. Coinbase

Coinbase is a place to buy and sell cryptocurrencies, and the boom of DeFi hurt it a lot. Users moved their money to other Web3 wallets and started using decentralized exchanges instead of centralized ones, so their accounts were wiped clean. This is why it made sense for Coinbase to make its own Web3 wallet.

Coinbase, the biggest cryptocurrency exchange in the United States, has a DeFi wallet that doesn’t hold your coins and has a number of security features. For instance, you can use your own biometric information as a step to get into your wallet. Or, you can add a PIN code that allows anyone to physically get into your wallet.

Most of the time, Coinbase Wallet works with the Ethereum chain. But you can also add other cryptocurrencies and interact with things like Optimism and Arbitrum, which are ETH L2 solutions. You can also link up with other chains (e.g. Avalanche and Binance Smart Chain). The catch

Does it seem too good to be true? So, yes, that’s what it is. One small catch: Know Your Customer. To use the Coinbase wallet, you have to follow the rules and fill out a number of KYC forms.

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