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Got crypto? Here are 3 software wallets for storage, staking and swapping

December 3, 2021No Comments

Almost every segment of the crypto sector experienced explosive growth in 2021. The steady inflow of institutional funds could be interpreted as a sign that the best is yet to come.

For new users, figuring out how to get cryptocurrency can be a tedious task, and the challenge of securing exchanges assets is another hurdle that some investors find difficult to overcome.

Here's a rundown of some of the most widely used cryptocurrency soft wallets that support a wide swath of tokens and offer users access to decentralized finance (DeFi), non-fungible tokens (NFT), gambling opportunities, and airdrops.

MetaMask

MetaMask was originally released to support the Ethereum blockchain and the decentralized applications (DApps) that run on it. It is now available as a browser extension and a smartphone app.

The company was launched in 2016 and has greatly benefited from the advantage of being the first to move to become one of the most popular and widely integrated wallets, and it is one of the few that supports almost all blockchain networks.

A quick scroll through supported networks on Chainlist, a platform that provides a list of Ethereum Virtual Machine- (EVM) supported networks and instructions on how to add any listed network to your MetaMask wallet, shows hundreds of MetaMask supported blockchain networks , including many of the top smart contract competitors.

Currently, MetaMask supports Avalanche, Fantom, Binance Smart Chain, Polygon, HECO Mainnet, Optimism, and Arbitrum, and it is easy for users to use various bridges to transfer tokens between supported networks.

MetaMask has also integrated an exchange feature directly into the wallet to give users access to an aggregated list of decentralized exchanges (DEX). According to data from Dune Analytics, the daily trading volume on the MetaMask exchange has been steadily increasing throughout 2021.

MetaMask exchanges the daily volume. Source: Dune Analytics

The increase in exchange volume has also come along with rumors that MetaMask will eventually launch your own token and many users are anticipating an airdrop.

Ghost

Phantom is a popular software wallet and browser extension available to users of the Solana network.

Similar to MetaMask, the Phantom wallet has a built-in DEX that allows users to make direct exchanges within the software, thus avoiding the risk of connecting to a fraudulent website or paying gas fees to transfer the wallet's funds to another exchange.

There are rumors that Phantom could launch its own token and launch a part of the supply to the first users. However, so far this is nothing but pure speculation and the developer has yet to mention anything.

The wallet also has an NFT tracking feature and users can also transact with available NFT markets.

Like other wallets, Phantom users can bet on Solana (SUN) tokens without the need to transfer the assets. The team recently announced a partnership with MoonPay that will allow users to use fiat currency and credit cards to purchase tokens in the Solana ecosystem.

The project is also developing smartphone applications that will allow users to access the Solana network directly from their smart devices.

Keplr

The Keplr wallet is the first communication between blockchain- (IBC) enabled wallet and browser extension for the Cosmos network that allows users to store and access tokens within the ecosystem.

It currently supports more than 15 networks, including Cosmos, Secret Network, Kava, Crypto.org, IRISnet and Persistence, and the team regularly adds support for new chains with various projects currently in beta access.

Holders of supported tokens can stake their holdings directly through the Keplr wallet and the app works on Android and iOS devices.

At the moment, there are no rumors of a possible token or airdrop of Keplr to users, but you can never be sure what could happen in the cryptocurrency sector. If Keplr integrates popular features like its own exchange interface or an NFT marketplace, then the possibility of a native token is always a possibility.

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The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and business move involves risk, you should do your own research when making a decision.