Best Cardano Wallets – Beginners Guide

Cardano blockchain is the home of ADA and it’s a highly innovative platform which uses a scientific framework for funds transfer. It has been in existence long enough to draw a sizable following and has always maintained a position in the top 15 cryptocurrencies by market capitalization.

Recently, when it got listed on a popular exchange platform, prices spiked significantly, resulting in significant media coverage. If you are thinking of getting in on the action, or have been a long-term enthusiast, this guide is for you.

It analyses the popular wallets out there that offer storage, trading and exchange services for Cardano users. Read on to find out which one is best for you.

Best Exchange Wallet for Cardano (ADA) in 2024

Best Cardano Wallets in the US

1. Best Wallet – AI-Enabled Cardano Wallet
2. eToro – Most Secure Cardano Wallet
3. OKX Wallet – A Web 3 Wallet Giving Access to GameFi, DeFi, and Other Utilities
4. ByBit Wallet – A Beginner-Friendly Cardano Wallet
5. Huobi – Best Cardano Wallet for Crypto Traders
6. Crypto.com – Best Defi Crypto Wallet
7. Binance – Best Cardano wallet for Mobile
8. Infinito Wallet – Best Cardano Wallet for Mining
9. Coinbase – Best Cardano Wallet for Functionality
10. Exodus Wallet – Best Cardano Wallet for Beginners

If you are seeking to purchase the sixth-largest cryptocurrency by market cap, you will definitely need a wallet to keep it. Cardano wallet will store your long and complicated private key and enable you to interact with the part of the blockchain where your ADA is located. Through Cardano wallet, you can buy, sell, send, receive, store and finally stake your ADA coins to earn more rewards. 

Apart from the functionality, there is still one more thing you need to take care of – security. The crypto world is filled with several safety threats, so your Cardano wallet must possess the strongest security features to keep your account away from fraud and malicious logins.

With so many options, you may find it a bit time-consuming to select the most functional and suitable Cardano wallet for you. Hence, we have done detailed research and handpicked the best Cardano wallets for desktop, mobile, staking, etc. 

Best Cardano Wallets in the US – Full Reviews

Below we take a closer look at our top picks for the best Cardano wallets of 2024:

Best Wallet – AI-Enabled Cardano Wallet

At number on the spot, we have a Cardano wallet that is yet to be released but has already gained a lot of attention due to its AI-driven capabilities. Best Wallet is a multi-chain wallet offering an array of unique features as well as security protocols to help keep assets secure.

As a multi-chain wallet, it supports multiple blockchain networks, including Ethereum and Binance Chain. It is also likely to add support for Ouroboros, the POS protocol that Cardano uses. That would allow it to hold Cardano and over 1000 assets.

The wallet’s UI has been designed after considering the user’s needs in mind. Beginners or experienced investors would be able to use it properly. The wallet also allows users to interact with multiple decentralized applications.

And when it comes to security features, Best Wallet offers multi-factor authentication, advanced encryptions, biometric identifications, and a host of other tools.

The key facility that it offers is the AI chatbot. The chatbot alters the way people interact with the wallet and the crypto ecosystem. This AI-driven mechanic not only makes using the wallet easier but also helps users get insights about the market.

Best Wallet also has its very own utility token known as BWAT that can be staked to get perks like NFT drops and even zero gas fees.

Pros

• Buy, sell, and trade over 1000 crypto assets
• High-end security features
• Multi-chain support
• Has a unique AI integration

Cons

• It is yet to be released

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eToro Money Wallet- Most Secure Cardano Wallet

Regulated by the Gibraltar Financial Services Commission, eToro Money wallet protects your wide range of cryptocurrencies with its advanced security standards. This reputable money wallet offers a one-of-a-kind, hassle-free method of storing your various cryptocurrency coins in a safe digital location.

It has an easy-to-use interface that allows all investors to take full advantage of all of its features. You can also link your eToro Visa debit card to your wallet account without incurring any account or setup fees.

This wallet secures your ADA coins through its cutting-edge security system. It makes use of safety features like two-factor authentication, various levels of encryption, and multi-signature to make sure that your favorite crypto coins are protected from any external attack, security failure, or any other malware.

You can store your cryptocurrencies safely in this wallet with a single username and password, in a nutshell; there is no need of remembering or writing down the private keys of your crypto in this wallet.

Furthermore, if you are looking to diversify your crypto investment in other digital assets, then you could do so easily with the help of this wallet. Here, you can easily keep a record of your different crypto portfolios. In case you have traded in cryptocurrencies through the well-regulated eToro platform, then your cryptocurrencies would automatically get stored in this wallet.

You can also link your eToro Visa debit card to your wallet account without incurring any account or setup fees. Furthermore, if you want to earn passive income with this wallet, you can use its crypto-staking feature. You can take advantage of this wallet’s fantastic features by simply downloading it from Google Play (for Android users) or the App Store (for iOS users).

Apart from all these features, in any case, you face a problem while using the services of this wallet, customer care support will be available to sort out your problem. Overall, the eToro money wallet comes out as the best wallet for keeping your Cardano safe and secure due to its strong security features and other additional features.

Pros

• Buy, sell, trade, or store more than 120 cryptocurrencies on this wallet
• Cutting-edge security features
• Backed by the leading crypto exchange
• User-friendly interface
• Android and iOS users could easily download it
• Available in more than 100 countries

Cons

• It is not possible to transfer your crypto back to your eToro account
• Crypto-to-fiat conversions are somewhat expensive.

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OKX Wallet – A Web 3 Wallet Giving Access to GameFi, DeFi, and Other Utilities

Launched in 2017, OKX is a Seychelles-based cryptocurrency exchange that grew fast and became the third-biggest cryptocurrency exchange by market capitalization. This exchange offers spot trading, derivatives, and margin trading facilities, along with nuanced features like Copy Trading.

These features, along with the rest, are also accessible through the OKX mobile app, which also features a secure Cardano wallet. Over 350 cryptocurrencies are listed on OKX. Along with trading facilities, OKX also has an Earn program with staking and saving utilities. Users can also lend or borrow crypto loans. And the recent addition known as the Jumpstart program allows investors to find high-quality crypto projects across the world.

Institutional investors can access features like the Liquid marketplace, APIs, VIP loans, and Broker program. Historical market data is also available for corporate investors. And those who want to learn about crypto and earn rewards while doing so can join OKX’s learn program.

Cardano coins and others are secured on OXK through a tool called the OKX Risk Shield. The OKX Risk Shield is an asset risk reserve fund that continually allocates a percentage of your crypto earnings to a cold reserve. At press time, this shield has reserved more than $700 million worth of tokens.

Pros

• Supports more than 350 cryptocurrencies
• Multiple trading features are available
• Supports Earn Program
• Accessible through Android and IOS-based devices
• Implements an asset risk reserve to protect user’s assets

Cons

• Not available in the US

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ByBit Wallet – A Beginner-Friendly Cardano Wallet

Launched in 2018, Bybit is a cryptocurrency exchange that supports over 100 cryptocurrencies and over 300 crypto trading pairs. The platform made a name for itself after the crypto winter of 2022, during which it became one of the world’s leading cryptocurrency exchanges – ranking among the top five on CoinMarkCap and top 3 on CoinGecko. One of the leading reasons this exchange has gone vogue is because of its inclination to introduce new and innovative cryptocurrencies.

Both spot and margin trading facilities are supported on this platform, and the fee is divided into tiers of VIP and non-VIP users. The Cardano wallet that this platform implements is secure and has also implemented a proof of reserve. Bybit has a 1:1 reserve of all user’s assets.

The cardano wallet featured in Bybit can give users insight into the most trending cryptos in the market based on their niche. The wallet also gives users access to swapping and staking utilities, as well as informing them of the latest IDOs – which is suitable for those looking to make early gains on newly arriving crypto assets.

Pros

• Supports more than 100 cryptocurrencies
• Has an audited proof of reserve
• Over 300 crypto trading pairs supported
• Among the top five cryptocurrency exchanges by CoinMarketCap

Cons

• Not available in the US

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Huobi – Best Cardano Wallet for Crypto Traders

In September 2018 Huobi Global launched its hot storage cryptocurrency wallet bearing the identical name. The wallet generated a lot of popularity mainly due to the Huobi exchange which is one of the oldest, most well-known, and reputable cryptocurrency brokers worldwide. The company was founded in China and the exchange was among the best three crypto trading platforms in China. However, it soon moved its headquarters to Singapore, because of the crypto restrictions imposed by the Chinese government. 

The Huobi wallet equips its users with safe trading and provides a secure platform to store their cryptocurrencies. Although Huobi is a hot storage wallet, in fact almost 98% of the crypto assets are stored in cold storage, thus making it more trustworthy. Still, we should note that Huobi is not regulated by any financial authorities, but it applies robust security systems to protect your account and gives you 100% control over your private keys.

Huobi wallet has a light app that can be downloaded and installed for free. It’s compatible with iOS and Android phones, and its app has a good rating on the Playstore. Creating an account on the Huobi wallet platform, you will get access to over 20 crypto wallet types which you can store, exchange, transfer and stake those working on the Proof of Stake mechanism. In addition to this, the platform also supports 13 stable coins, among them the ones based on the ERC20, TRC20, TRC10, EOS, and ONT tokens. 

Pros

• Ability to store your private keys on your device.
• A reputable wallet operated by a leading cryptocurrency exchange.
• Supports 20 coins, plus 13 stablecoins.
• Delicate and simple design.
• Access to multiple Defi protocols. 
• The app is free and can be downloaded from Appstore and Playstore. 

Cons

• Huobi is not regulated by any financial authority.
• Does not accept customers based in the US.

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Crypto.com – Best Defi Crypto Wallet 

Crypto.com is a leading cryptocurrency exchange that has been around since 2016. Recently, it has also launched its Defi product – a non-custodial wallet of the same name. Released in May 2020, the platform offers decentralized, convenient, and flexible solutions for storing your cryptocurrencies. There are more than 500 cryptocurrencies available on the platform which you can store securely and stake some of them to generate rewards. 

Among the supported assets are Bitcoin, DAI, Dogecoin, Shiba Inu, Cardano, multiple ERC20 tokens (including Ethereum, obviously), stablecoins, including Tether, USD coin, etc. The platform also supports a wide range of NFTs, including those based on the ERC1155 and ERC721 tokens. It is also available to buy several crypto assets by connecting your wallet with the Crypto.com app. 

When it comes to security, Crypto.com is one of the world’s most secure Defi wallets. First, because it’s decentralized, which makes it even harder for the hackers to succeed in their cyber attacks. Next, it’s a non-custodial wallet, meaning that it gives you full control over your keys. And finally, it uses advanced safety mechanisms to protect your account, meanwhile keeping your funds in cold storage. 

You can access the huge selection of cryptocurrencies and other Defi products provided by this wallet through its mobile app or web version. The mobile app is free to use and is compatible with iPhone and Android users. It stands out with its plain design and easy-to-use interface that attracts several beginners to this platform. 

Pros

• Free to download and easy-to-use app.
• Access to over 500 crypto assets and Defi products.
• Robust security features, including 2FA, biometric, etc.
• Several crypto assets are available for staking.
• A non-custodial wallet that stores private keys on your device.
• The mobile app is compatible with iOS and Android operating systems.

Cons

• Some functions are not available for US customers.
• Customer support lacks a mobile phone option.

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Binance – Best Cardano Wallet for Mobile

Whether you look for a Cardano software wallet for your iOS or Android operating system, the Trust wallet backed by the Binance cryptocurrency exchange is a perfect choice. Before moving to the features of the Trust wallet, it’s crucial to note that it shouldn’t be confused with Binance’s exchange wallet. 

When you buy cryptos on Binance exchange, it’s initially stored on your exchange account. Afterward, you can decide whether to leave it there or transfer it into a Trust wallet.

So, Trust wallet is an entirely separate product from Binance exchange with its own features, pros, and cons, but it was designed and launched by Binance Holdings.

Trust wallet is excellent storage for your crypto in terms of both – functionality and safety. It enables you to buy, sell, store and stake several crypto assets. Initially, Trust wallet only supported ERC20 and ERC223 token-based cryptocurrencies, but later it expanded its selection of digital assets. Now, you can access over 160 cryptocurrencies through Trust wallet. 

Along with these functions, Trust wallet also provides a simple-to-use user interface and good customer support. The app is equipped with price charts that enable users to keep track of crypto price changes without leaving the app. And what is most important is that it has built robust safety features to prevent any type of fraud. Plus, users can activate additional layers of security from the app’s settings. 

Trust Wallet is free to download and install, nor does it charge any subscription fees. However, as you make transactions and stake crypto, you will be charged gas fees which are paid to blockchain validators. 

Pros 

• Supports more than 160 crypto assets
• Provides a user-friendly platform
• Has built good security system
• Free to download
• More control over your private keys
• It runs on iOS and Android mobile systems

Cons

• Not as secure as hardware wallets
• Customers sometimes complain about the support system

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Infinito Wallet – Best Cardano Wallet for Mining

Infinito wallet is one of the most well-known software wallets worldwide, which is mainly famous for the versatile collection of crypto assets it supports. The wallet offers almost 2000 cryptocurrencies that are available to buy, store, send, receive and stake. 

Like most other software wallets, Infinito can be downloaded for free, and you can find its app in the Appstore and Play Store. However, gas fees are applied for transactions that are classified into three groups – Economy, Regular, and Premium.

It means that you are allowed to select the pricing limit and use the lowest possible cost by choosing the lowest transaction speed. 

Infinito wallet has other notable features too. It possesses sound security systems to protect your account from possible threats, including fingertip recognition, password protection, ID claim, etc. Another great thing about this wallet is its straightforward platform and fascinating support system, including live chats, app availability in 8 languages, and several other features.

Pros

• Supports a wide range of crypto assets
• Possesses strong security features
• Allows staking several cryptocurrencies
• Free to download on iOS and Android devices
• Excellent customer support with live chat available
• Good functionality (including market alerts, analyses charts, etc.)
• Supports customers from over 190 countries

Cons

• Higher gas fees for quick transactions
• Not available on desktop, only mobile app

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Coinbase – Best Cardano Wallet for Functionality

Coinbase provides one of the best cryptocurrency wallets regarding security and functionality. Apart from being backed by one of the most reputable crypto exchanges, Coinbase wallet introduces some unique features too.

Though being a hot wallet, Coinbase acquires a high-level security system based on Secure Enclave technology. The latter offers multiple safety layers for protecting your account and storing your private keys effectively. 

Coinbase can be used on iOS and Android devices. It’s also compatible with several well-known hardware wallets, such as Trezor, Keepkey, and crypto-friendly bank accounts. Although the list of crypto assets Coinbase supports is not too extensive, the platform allows other functions besides storing cryptocurrencies.

These functions include storing non-fungible tokens (NFTs), supporting ICOs, access to dApps and Defi products, paying with crypto in shops where it is accepted, etc. 

Coinbase is available for free download, but as with other software wallets, you need to pay transaction fees. Trading fees on Coinbase vary depending on which payment method you use and start from 1,49-3.99%. But other factors may influence too, such as your location and order type. Coinbase offers other pricing options, which you can find on their platform.

Pros

• It offers the best security features as a software wallets
• Compatible with many hardware wallets
• Backed by a crypto exchange with a good reputation
• Supports NFTs storing
• Compatible with crypto-supported bank accounts
• Available for free download

Cons

• It does not offer an extensive collection of cryptocurrencies
• Fees may be higher for some payment methods

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Exodus Wallet – Best Cardano Wallet for Beginners

Well-known for its friendly design, Exodus started as a desktop app. Later on, the wallet launched its mobile version, too, which is available for Android and iOS users. Exodus may attract beginners to store Cardano as it has a super catchy design and easy-to-operate platform.

Exodus protects your account with good safety features. Still, the wallet does not require providing personal information and verification processes. Plus, it offers two methods of restoring your account in case you lose it or it is harmed.

Exodus is compatible with hardware wallets, too, including such secure ones as Trezor hardware wallets. 

Along with supporting several cryptocurrencies, Exodus provides an exchange where you can trade between your favorite crypto assets. It also has a section dedicated to your portfolio where all your owned crypto assets are displayed and their current prices. One of the minuses of Exodus wallet is that it does not support transactions in fiat currency. 

As for customer support, Exodus is beyond the competition. It has several support options, such as videos, live chats through Slack, email possibility, FAQ section, etc. Exodus shines with its customer support and design features as its primary emphasis is on improving these functions. However, it also negatively affects the wallet, as it lacks some crucial security features. 

Pros

• Super friendly design
• Great customer support features
• Basic security features are provided
• Compatible for hardware wallets to enhance security
• Supports almost 150 crypto assets
• Exchange and portfolio sections are provided

Cons

• Not as secure as software wallets can be
• It can be easily hacked

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What is a Cardano Wallet?

Just like Ethereum, Cardano (ADA) is a smart contract platform which uses a layered design to enhance security. The team behind it describes it as a third generation blockchain wince it was the first of its kind to be developed on the basis of scientific philosophy using peer-reviewed academic research.

Unlike most other blockchain platforms, this one was designed with the aim of finding the middle ground between regulation and user satisfaction. It thus strives to balance the decentralization and privacy principles that define blockchain and a need for regulation. The platform uses one of the most flexible programming languages, Haskell.

Another unique aspect about it is that it does not seek to overhaul the legacy financial industry. But rather, it aims to leverage blockchain to take banking to underbanked areas. Cardano has been in existence since 2015 and is based in Switzerland, operating under the Cardano Foundation. At the time of writing this guide, it was in the 10^th position of cryptocurrencies ranked by market capitalization.

If you would like to invest in or use Cardano, one of the first steps would be to get a Cardano wallet. A Cardano wallet is one that has necessary frameworks in place to allow for the storage of and transactions in the cryptocurrency. There are numerous options available when it comes to Cardano wallets, each one with unique features. Let us assess some of the best ones.

How to get started with the best Cardano Wallets

eToro Money Wallet- Most Secure Dash Wallet

To get started, we would first introduce you to eToro. The Gibraltar Financial Services Commission regulated eToro Money wallet keeps your Dash coins protected from any security failure with its advanced security measures. It offers a unique and convenient method of storing various crypto coins in a secure digital location.

This renowned wallet has industry-leading safety features like two-factor authentication, various levels of encryption, and multi-signature at its place for ensuring the maximum protection of your favorite Dash coins.

Further, it has an easy-to-use interface that enables all investors and crypto enthusiasts to fully utilize all of its features. You can also link your eToro Visa debit card to your wallet account for free, with no account or setup fees.

You can easily keep track of your various crypto portfolios here. If you have traded cryptocurrencies on the well-regulated eToro platform, your coins will be automatically stored in this wallet. You can also try out the crypto staking feature of this wallet with which you would generate passive income alongside your main investment.

In addition to all these features, users could easily download this wallet from the App Store and Google Play. Moreover, if you encounter any issue while using this wallet, you could easily contact the customer support team of this wallet, which would be willing to offer their support for solving your problem. Considering all these features, this wallet comes out as the best option for keeping your Dash coins secure.

Step 1 – Create your eToro account

Visit the eToro platform’s official website and click the ‘Join Now’ button. To create your login credentials, enter the required information such as your name, address, user name, phone number, and email address. You can also use your Google or Facebook account to set up your login credentials.

Step 2 – Make use of all the features

Once you complete all the formalities, now it’s time to use all the functionalities. You can store crypto, and take benefits of all the award-winning features of the platform.

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Binance wallet

Binance is not only one of the most popularly used crypto exchanges globally; it also has one of the highest trading volumes. At the time of press, it handles more than $940,000 dollars’ worth of digital assets every 24 hours.

Surprisingly, it has only been around since 2018 and within its short period of existence, it has experienced massive growth. The platform initially launched in China but due to regulatory challenges, later moved to Malta where it now operates.

Though it offers basic and advanced trading options, none of these are ideal for a complete beginner. To open your own Binance account, follow these steps:

Step 1 – Create Your Binance Account.

Head on over to Binance.com and register an account. You will only be required to enter your email address and password.

Binance will send you an email. Click the link in it to complete registration.

The link will take you to your new account and you will get a prompt to supply more information about yourself.

Doing so will allow you to access the full functionality of the site. Once you have done so, you can start trading Cardano and using the exchange wallet for storage.

Note: You can’t buy Cardano with fiat money (like USD) on Binance.

Step 2 – Go to “Funds” > “Balances”

On this page, you will be able to view all your account’s wallets. Anytime you make a purchase, your order will reflect in the relevant account.

At the top of the list are the wallets with coins in them. To transfer Cardano to your Binance exchange wallet, click on “Deposit” and once you do, you can start trading ADA pairs on the site.

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Infinito Wallet

Infinito describes itself as the first universal crypto wallet as it supports one of the highest numbers of digital currencies. In addition to major coins, the wallet also supports ERC-20, ERC-223 and NEP-5 tokens and the list is always growing.

The company behind it is known as Infinity Blockchain Labs and is registered in the UK on the Isle of Man. Other features apart from the sheer number of assets it supports include touch ID, frequent address storage and multiple languages.

To get your own Infinito wallet, follow these steps:

Step 1: Download Infinito Wallet

Go to Infinitowallet.io and click “Download” then select the suitable file for your device.

After the download completes, install the file and then follow the prompts to open up the wallet.

Step 2: Go to the Cardano Wallet already within Infinito

Once you open your Infinito wallet, your Cardano wallet will be ready for use. You can start sending, receiving and storing your Cardano coins immediately.

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Coinbase wallet

Coinbase is one of the largest crypto exchange platforms globally, with a presence in 32 countries. It has been in existence since 2012 and like Coinbase, accepts credit card payments and bank transfers for crypto purchases.

However, it does not support as wide a variety of coins as Coinbase and others. It added support for Cardano in March this year. Though it is an exchange wallet like Binance, it claims to store 98% of funds in cold storage.

Here is how to create your own Coinbase account:

Step 1: Create Your Coinbase Account.

Go to Coinbase.com and click on “Individual” account

You will have to enter your full name, your email address and a new password for the account.

Next, head over to your email and click on the link in the Coinbase email

That will take you to your new Coinbase account.

Step 2: Find Your Cardano Wallet.

Once you open your account, click wallets to see your Cardano wallet (as well as all other Bitcoin wallets that Coinbase supports).

Click the wallet to open it to view your wallet address. You can now send Cardano to this wallet address. Additionally, any Cardano you buy on the platform will be stored in this address before you move it to cold storage.

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Exodus Wallet

Exodus wallet is different from Coinbase and Binance wallets in that it is a software wallet for the desktop. It is a popular desktop wallet with a friendly user interface and lots of features.

Created in 2016 by co-founders JP Richardson and Daniel Castagnoli, the wallet has over time incorporated support for a wide range of assets. These include more than 100 digital currencies with portfolio balances that can be displayed in at least 30 fiat currencies.

Follow these steps to set up your Exodus wallet:

Step 1: Download Exodus.

Go to Exodus.io and download the desktop client for your Exodus wallet and then follow the prompts to install it.

Step 2: Open Your Exodus Cardano Wallet.

To view your Cardano wallet click “Wallet” and then click it to see your Cardano wallet address, balance, and other details.

Differences Between Exchange, Hardware and Software Crypto Wallets

Our guide has covered different types of wallets that you can choose from when looking for a Cardano storage solution. These different wallets each offer varying features that make them suitable for various users.

Depending on your transactional habits and personal preferences, you can find one that suits your needs. But before making your choice, let us help you understand the merits and demerits of each type of Cardano wallet:

Best Cardano Wallet on Mobile

As you can tell from the above comparative analysis of Cardano wallets, there are lots of choices for all types of users.

But at the end of the day, the choice you make boils down to priorities. Find out whether the platform you are considering supports the services that matter to you.

In addition to priorities, it is important to consider the support system of the wallet service provider you choose. To find out how well or poorly it performs in this regard, visit discussion forums like Reddit and Bitcoin Talk. On such platforms, you can find honest user reviews based on first-hand experiences.

And most importantly, consider the security measures the platform has in place. Take time to carry out research into its past security breaches if any.

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What Makes a Good Cardano Wallet?

In this section, we will summarize what features a good Cardano wallet should possess. While safety and functionality may be the top priorities when selecting good storage for your Cardano coins, there are some other things to consider, too, depending on your goals and budget. 

Security Features

When selecting a cryptocurrency wallet to store your Cardano, its safety ranking must be a top priority for you. It’s often noted that hardware wallets are the most secure, but they sometimes appear to be rather costly. So, sometimes buying a hardware wallet may not even make sense, especially if you buy ADA in small amounts and your investment costs less than a wallet. In this case, you can rely on software wallets as several hot wallets possess crucial security features to prevent any fraud.

Functionality

Functionality is another vital factor to take into account, especially if you look for a wallet not only to store your Cardano but also to trade actively. Some wallets provide you with an exchange platform where you can buy, sell and exchange ADA or trade other cryptocurrencies. Other wallets allow staking opportunities, through which you can stake your ADA coin and earn interests. So, if you will be actively involved in short-term trading and make use of the available options, thoroughly explore all their features and select a wallet that mostly suits your needs. 

Supported crypto assets

Besides Cardano, you may also want to invest in other cryptocurrencies to diversify your portfolio. Not to create separate wallets for all your cryptocurrencies, make sure if the wallet you wish to select supports your favorite crypto assets. Some hot wallets also support NFT storing, and if you want to invest in NFTs, consider this factor. 

User-friendly design

Some cryptocurrency wallets have user-friendly and straightforward interfaces, while others are too complicated and impractical. It results in spending more time understanding how to use or find this or that function of the wallet. The process gets much harder, especially if you are a beginner, and it may even lead to wrong actions and security threats to your account. Hence, it would help if you looked through the reviews of different wallets to find the one with the best user experience and simple design.

Compatibility

Compatibility is the wallet’s ability to work on iOS, Android, and other systems. Though most popular hot storage wallets are compatible with iOS and Android devices, some wallets may not be available to use for either of these systems. Perhaps, you also want to download the desktop version of the app, so you need to check if it works with your computer’s operating systems. Apart from the devices, wallets can also be compatible with hardware wallets to enhance their safety. The latter is also an excellent and useful function to use.

Costs

When it comes to software wallets, they are usually available for free. So, you can easily download and install them without paying any subscription fees. But if you plan to make transactions through the wallet, consider that you will be charged commission fees for that which is paid to miners who work on validating the transactions. Different wallets offer different pricing for transactions. Meanwhile, they also enable you to adjust your budget and operate slow transactions for low pricing. Compare multiple options to find out the wallet with the most affordable fees.

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Why you should invest in Cardano?

Though there are a plethora of cryptos available in the market, however only a few of them have shown enough promise to climb the market-value charts. Cardano is one of these well-known assets. Cardano has been playing a key role in the development of decentralized applications on blockchain technology.

With the launch of smart contract functionality, Cardano has ushered in a new chapter in the era of decentralized finance. The development of smart contract technology is a significant event because dApps provide real-world utility in fields ranging from finance to gaming.  The speed of transactions is critical in convincing people to use blockchain for financial transactions or anything else.

Many times crypto users have faced issues with the speed of their transactions, however, Cardano distinguishes itself from other competitors with its high transaction speed. Beating the speed of crypto giant Ethereum, Cardano could process 250 transactions in a single second. This processing speed would even get multiplied with its Hydra layer-2 system.

Apart from all these factors, Cardano’s price prediction forecasts the bullish run of this crypto in the year 2022. Data shows that the value of this crypto would be around $4 by the middle of the year 2022. The prediction shows that Cardano will be worth around $5 by the end of next year, so the second half of 2022 will continue to see some growth in terms of value increment. Considering all these reasons, Cardano comes out as the perfect investment avenue for all crypto enthusiasts.

How to buy Cardano in 2024?

The scalability, power, and inter-tradability will play a crucial role in keeping the value of ADA coins rising at a steady pace. As per the opinion of crypto-experts, the upward trend of this crypto will continue to profit its investors in 2024.

If you are looking to invest in Cardano, then we would recommend you to buy this crypto from the well-regulated crypto exchange, eToro platform. Given below are the steps you are required to follow before you buy Cardano from the eToro:

Step 1: Sign up for the eToro

Visit the official website of the eToro platform, and click any of the signup buttons. Provide your necessary details such as your name, address, user name, phone number, and email address, for the purpose of creating your login credentials. Alternatively, you can also set up your login credentials using your Google or Facebook account.

Step 2: Complete the KYC process

After you’ve created an account on the eToro platform, you’ll need to complete the KYC (know-your-customer) process by having your identity verified. A copy of your passport or driver’s license can be used to verify your identity. You can provide proof of address in the form of a utility bill or a bank statement. Your account will be authenticated within minutes after you have uploaded all of the required documents.

Step 3: Fund your account

After you have completed the identification process, the next step is to fund your eToro account. eToro accepts a variety of payment methods for depositing funds into your account. To deposit money in your account, you can use credit/debit cards, a bank account, PayPal, or another method.

Step 4: Search for Cardano (ADA)

The next step requires you to select the cryptocurrency that you wish to purchase. Simply enter the name of Cardano (ADA) that you want to purchase into the search bar.

Step 5: Place trades

Finally, tap on the “Trade” button, and mention the amount that you would want to invest in Cardano. Now, click on the “Open Trade” button to complete the transaction.

Exchange Wallets

In the early years of cryptocurrency a common mantra was ‘don’t keep your crypto on exchanges’, since at the time exchanges were unregulated and ending up being scams, e.g. Mt Gox.

However today in 2024 the cryptocurrency markets are more regulated and sites like eToro have free secure wallets users can take advantage of, on which you’re arguably less likely to be hacked or lose access to your funds, than using a hardware wallet. And for those looking for a wallet that’s yet to be released but is packed with a wide array of utilities, Best Wallet is also a good choice.

FAQs

Why was Cardano created?

It was created to change the general design of cryptocurrencies with a focus on a flexible design that takes into account both users’ needs and regulatory aspects.

What makes Cardano unique?

It is the first of its kind blockchain to undergo peer-review by academic researchers.

How was Cardano funded?

It was funded via token sale that ran all the way from September 2015 to January 2017.

What is ADA?

ADA is the native token of the Cardano blockchain which allows users to transfer value on the network.

What is Daedalus?

Daedalus is a wallet developed by one of the organizations behind Cardano.

What other organizations apart from Cardano foundation make up the Cardano team?

They include IOHK, a top crypto research and development firm, and Emurgo, an investment company.