List of the Best ADA Wallets 2022 to Store Your Crypto Assets 

Decentralized financial technology has changed the way people look at the financial world dominated by fiat currency. Virtual currency is rapidly replacing traditional fiat currency as a medium of exchange and storing value. Blockchain is the technology behind the surge of digital money like cryptocurrency across the world. People are eying this decentralized digital currency as the future of investment, trading, and medium of exchange in the virtual and real world. 

Ada (Cardano) is also among one of the most popular cryptocurrencies that people are using across the world for investment and trading, as the currency has delivered attractive returns in the past few years before the recent bearish trend

If you are someone who looks at Ada as an investment opportunity, you will need a wallet to store and manage your Ada assets, which is why in this article we are going to list out the best Ada wallets 2022.

Cardano Overview 

It is a blockchain platform that supports the development of decentralized applications (dApps), decentralized finance apps (DeFi), and DEXs that facilitates buying, selling, and trading of cryptocurrencies. Proof of work (PoW) is the consensus mechanism used by the platform to validate transactions and new blocks. Boasting of being scalable, interoperable, and more sustainable, than incumbents like Bitcoin and Ethereum, Cardano was launched in 2017 by Charles Hoskinson, who is also a co-founder of Ethereum. 

ADA is the native cryptocurrency of the Cardano blockchain used for making payments for transactions on the platform and paid out as a reward for users for validating the new block of transactions and mining new coins. It is named after Ada Lovelace who was the world’s first computer programmer and 19th-century mathematician.

Best Ada Wallets 2022

Pick the best Cardano wallet to store, transfer and manage your ADA funds:

Binance

Binance is one of the best ADA wallets that supports over 1500 cryptocurrencies for global users and 65+ for US-based investors. The API provided by Binance as a hot wallet allows users to integrate their currency trading app with Binance. Compatible with iOS, Android, and desktop, the wallet offers an array of trading features with 24×7 customer support. It can also be linked with the hardware wallet Ledger and Trezor.

Ledger Nano 

Undeniably Ledger Nano is the best hardware wallet for ADA. The wallet is featured with an LED display screen that is used for payment validation and it generates a PIN to confirm transactions. The hardware wallet can be accessed on USB-compatible devices and allows the installation of up to 100 applications. It has Bluetooth connectivity to connect with your device without a cable. Being a cold wallet it supports over 5,500 tokens and coins and is compatible with iOS, Android, and windows.

Trezor

Also a hardware wallet, Trezor can be easily connected with a computer or smartphone to perform transactions. It is programmed to generate a pin code to protect your wallet and funds. With a digital touch screen, the wallet supports over 1,800 cryptocurrencies. The open-source firmware does not support staking, but it can be linked with Trezo Model T or Trezor One wallet to perform staking.

Trust Wallet

Trust wallet is an open-source hot wallet to manage your ADA assets. The decentralized online wallet can be installed on your smartphone to hold your crypto funds. It allows you to purchase, sell, and swap cryptocurrencies with access to stake coins. External dApps can also be run on the wallet that uses cryptocurrencies for payments. The wallet is designed to store your private keys locally instead of online space which would be prone to cyber-attacks. Its downside is that it does not support desktops and has an outdated user interface.

AdaLite Wallet

AdaLite is an online web-based wallet specially designed to store Ada as is apparent from its previous name, CardanoLite. Fast processing of transactions is the USP of the wallet. It uses a 12-phase key to access your funds and recover your account in case the password is lost and your account is compromised. The self-hosted wallet is compatible with hardware wallets Ledger and Trezor.

Guarda Wallet

Being a  non-custodial multi-platform wallet Guarda supports over 40 cryptocurrencies. The wallet does not store your private keys, instead, it backs up your data in encrypted form which can be used to access your wallet by connecting to the internet and restoring your data. 

Conclusion 

You can start investing in Cardano (Ada) with the best wallet of Ada that suits your needs and investment objectives. Hardware wallets like Ledger Nano and Trezor are considered to be the best wallets with respect to security and privacy, while online hot wallets like Binance and Trust are rich in features with support to a wide range of cryptocurrencies. Choose an Ada wallet that ensures the security of your private keys and data and allows you to invest in most of the popular tokens.