After the success of Bitcoin, came many new alternatives which are called altcoins. They came with the main goal to become the next Bitcoin, but most of them failed due to technical issues or developers losing interest and leaving the project mid-way. But currently, several altcoins have the potential to compete with BTC if not completely replace it. One such popular alternative is Solana. Now if you are interested in storing SOL, then you need a perfect Solana wallet. But what is the best wallet for Solana? This is what we are going to find out in this article.
Now there are multiple options to store your SOL coins, but ever thought about what makes a Solana wallet ideal to be considered? To know all about that we are going brief you on the characteristics that you need to observe when choosing the best wallets to store Solana. Before moving further, let us know about what is a cryptocurrency wallet. It is a software or a hardware wallet that allows sending and receiving tokens by the users, plus link with Web3 dApps.
The Web3 wallet of a user is comprised of single or multiple keypairs that are made up of public and private keys that are obtained cryptographically. Now before we move on to listing the best Solana wallets, let us begin with our main subject that is based on:
Top characteristics that make a great Solana wallet
Below are some of those characteristics that make the Solana wallet an ideal choice for users to store their SOL tokens.
A perfect UI design
If a wallet comes with a perfect UI (user interface) then it gives the user advantage to purchase, sell, spend tokens, plus, viewing, trading non-fungible tokens, and management of digital assets simply. Different wallet solutions are applying distinctive methods to save key pairs, interact with decentralized applications, sign transactions, and token management. A top Solana wallet makes this experience instinctive.
Interaction with decentralized applications
Solana comes with a substantial ecosystem of dApps, and to interact with these, apps, they will find the need for wallet support that has been used by the user. Anyone interested in trading SPL tokens on the decentralized exchange of Orca, or buying an NFT token from the top NFT marketplaces of Solana, will need a wallet that is supported by applications. Therefore, the top wallets of Solana get incorporated into the largest selection of Solana decentralized applications.
Provision of built-in swaps
Several wallets enable users to direct natively swapping of SPL tokens from inside the wallet rather than needing users to link to the user interface of DEX to swap tokens. With the provision of built-in swaps, wallets ease the experience for the users to explore more in a single platform.
Staking of SOL tokens
There are many wallets with staking accounts. These are enabled automatically with the user’s wallet address. At the time of staking SOL tokens, the protection of the network and earning rewards are possible with the help of owners. By allowing users with direct staking of their SOL tokens within the app, it does not find any need to stake with liquid staking protocols.
Some web browser wallets come with the provision of the mobile version that completes them. The mobile version of Solana lets simple interoperability for on-the-go transactions and connectivity like sending payments to businesses and friends with the use of QR codes and Solana Pay.
There are various SOL wallets with ongoing developments and support teams working with regular updates to let users experience new features, interoperability, and most important feel secure. The top wallets fastly fix issues with bugs and are actively involved in coming up with new features upgradation, and paying heed to the feedback of customers.
Top 2 mobile SOL wallets to consider
Now after knowing the main characteristics of a perfect Solana wallet, let us now list down some of the best crypto wallets that can be preferred for storing SOL coins. So let us begin with:
Solflare comes as the best mobile Solana wallet. It is one of the initial wallets made by Solana Labs for the Solana ecosystem. It is as popular as other wallets easing its users with both mobile and web app provision.
Just as a popular Lee Falk comic character, Phantom also comes as the top Solana wallet in the Solana ecosystem that made its debut in 2021. Users exploring its use are at the advantage of not just trading cryptocurrencies, but can also send, stake, receive, and store on the Solana network.
It is also another best mobile application and browser extension that can be downloaded and can be used freely from their website. This SOL wallet can be operated on Chrome, and other mainstream web browsers like Brave, Firefox, and Edge. If your mobile phone is supported with iOS, then a Phantom wallet is for you.