Best IOTA Wallets

Best IOTA Wallets
5 (100%) 1 vote

IOTA is a totally different iteration of familiar blockchain technology, forgoing the linear “Blockchain” of Bitcoin for multi-dimensional “Tangle” of transactors. IOTA has no fees, actually speeds up the more people use it, and is infinitely scalable. IOTA takes its name from the “Internet of Things”, often abbreviated “IoT”. It’s a technology solution by which all sorts of devices around the globe can be interconnected, transacting money and data.

IOTA is also a cryptocurrency (MIOTA). Crypto investors are right to see IOTA as an opportunity for big returns. As more of our daily lives go online, the applications of the IOTA network will inevitably go mainstream. To invest in IOTA while the network is still young, users will need an IOTA wallet, one which can store the MIOTA cryptocurrency and protect the investment for however long the user decides to hold.

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 Quick Guide: Create an IOTA Wallet in 5 Minutes

  • Create a Coinbase account by clicking here
  • Choose a “Deposit” payment option
  • Make your first deposit ($250 minimum recommended)
  • Make sure that the payment has been processed on “Overview”
  • Open a Trade with “Buy” at the IOTA Market
  • Log into your new account
  • Your new IOTA has arrived!

Create your IOTA Wallet

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To find out more and compare different wallet providers, check out our list below. If you want to learn How to buy Bitcoin and other cryptocurrencies, read this guide.
What is a IOTA/Crypto Wallet?

What is a IOTA/Crypto Wallet?

IOTA is a digital currency. This means that it’s used like physical money, but it must stored in a piece of software to remain safe and accessible to its owners. A piece of software that performs this function is called a “wallet”. It’s a digital product that performs the same function as the leather wallet in your pocket, for digital currencies like IOTA.

Everyone who uses IOTA has an IOTA wallet. There’s a wallet for every other kind of cryptocurrency, as well. Crypto wallets perform these functions:

  • Send Cryptocurrencies
  • Receive Cryptocurrencies
  • Trade Cryptocurrencies
  • Spend Cryptocurrencies
  • Withdraw Cryptocurrencies

IOTA’s Tangle and wallet technologies can do many things. However, you can’t use a crypto wallet to:

  • Send BTC to a non-BTC Address (like-address to like-address only!)
  • Share personal data with 3rd parties (not recommended)
  • Withdraw fiat cash from your bank (only crypto ATMs)

Ever wonder how certain IOTA coins are tied to their owners? This is done using secret codes called “Private Keys”. When you receive new IOTA coins, you receive Private Keys along with the transaction. These keys signify to the IOTA network that you, the owner, have the right to ownership of these coins. The private keys are managed in an IOTA wallet that you control.

There are many IOTA wallets available today. They can be stored on mobile devices or computers. IOTA wallets can even be housed in standalone physical products, which are safer than software wallets because they are not connected to the internet (and its hackers and fraudsters).

IOTA wallets also exist on cryptocurrency exchanges. Exchanges wallets are meant to temporarily store your IOTA after you buy it, while you choose where to send your IOTA for longer-term storage.

Of all of these options, the safest bet will be an IOTA wallet that’s not connected to the internet. This could be a software wallet on a laptop that’s never been online, a hardware wallet like the Ledger Nano S, or a Paper Wallet (that’s just your IOTA Private Keys written down on a piece of paper – hack proof!).

Compare IOTA and Crypto Wallets

4,9/5

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66% of retail investor accounts lose money when trading CFDs with this provider.You should consider whether you can afford to take the high risk of losing your money.

4,9/5

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4,5/5

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4,2/5

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Payment Methods

  • PayPal
  • Credit/Debit Card
  • Wire Transfer
  • Neteller
  • Cash
  • Neteller
Payment Methods

  • PayPal
  • Credit/Debit Card
  • Wire Transfer
  • Neteller
  • Cash
Payment Methods

  • Credit/Debit Card
  • Bitcoin
  • Cash
  • PayPal
  • Wire Transfer
  • Skrill
Payment Methods

  • Credit/Debit Card
  • Wire Transfer
  • Bitcoin
  • Cash
  • PayPal
  • Neteller
  • Skrill
Minimum Deposit
$200 USD
Minimum Deposit
$100 USD
Minimum Deposit
$1 USD
Minimum Deposit
$10 USD

 

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Binance

More cryptocurrency is traded with Binance than with any other cryptocurrency exchange in the world. Most people who buy IOTA find themselves on Binance at some point. Here is a quick guide to creating your own Binance account, as well as how to use the Binance IOTA exchange wallet.

 

Step 1 – Create Your Binance Account.

Go to Binance.com and register for a new account. List your email address and create a new password.

Binance will send you an email with a link that you should click.

Once you click the link, you’ll be let back onto Binance. Give a little more information, and you’ll be able to fund your Binance account with Bitcoin, Ethereum, Tether, Binance Coin (any of which can be traded for the rest of the altcoins on Binance, including IOTA/MIOTA).

Note: You can’t buy IOTA with fiat money on Binance.

Step 2 – Go to “Funds” > “Balances”

Here’s an image showing a bunch of Binance wallets, one for each cryptocurrency traded on the platform.

Whenever you buy an altcoin on Binance, it gets delivered to its wallet here in your account.

When you have cryptocurrency in one of these wallets, it will appear at the top of the pile. You can send IOTA or other altcoin to these wallets by clicking “deposit” beside the relevant wallet.

Visit Binance

Guarda Wallet

Guarda Wallet is an excellent multicurrency wallet with full IOTA functionality. We’re impressed with Guarda’s security, an important characteristic for a mobile-ready IOTA wallet. Find out how to create your own Guarda wallet below.

Step 1: Create a Guarda Wallet

Go to Guarda.co and create your wallet. Guarda is an online wallet, accessible through browser or as an app on your mobile device. Create your wallet, and make sure to Backup the wallet as well. This will let you recreate your wallet if you ever get locked out for some reason.

Step 2: Access your IOTA wallet

Your IOTA wallet will already be active within your Guarda wallet. Once inside your account, you’ll be able to send MIOTA to the IOTA wallet address, where you can send your IOTA for any purpose, receive more, or store your coins for a long term investment.

Visit Guarda Wallet

Best IOTA Wallets in Your Country

UKCanada & USAustralia

Coinbase is the best IOTA wallet for people in UK.  It is licensed in multiple international jurisdictions. Its long history of excellent services and practices extends back before Bitcoin even existed

If you want to actually own and trade IOTA, Binance might be your best bet. IOTA is tradable against Bitcoin, Ethereum, Tether, and Binance Coin on Binance. From Binance, you can trasfer your IOTA to any IOTA-supporting crypto wallet.

For users who wish to own and transact with their IOTA, Binance may be the best option for people in North America. All of Binance’s trading currencies have trading pairs with IOTA.

Binance is the best temporary IOTA wallet solution for traders in Australia and New Zealand.

While not ideal for long term storage, the Binance wallet has never had a major hacking scandal as is so often the case with exchange wallets.

People can buy IOTA on Binance, then store it in the Binance wallet until they figure out where and how to store it securely elsewhere for the long term.

Differences Between Exchange, Hardware and Software Crypto Wallets

Now that we understand some of the best IOTA wallet options, let’s highlight the differences between exchange, hardware, and software wallets.

Exchange Wallets

Every cryptocurrency exchange provides temporary wallet solutions for their users. This is where coins go after a trader buys them.

Crypto exchanges are occasionally hacked, and user funds stolen, so people shouldn’t rely on exchange wallets for the long term.

Here are some good examples of Exchange wallets:

  • Coinbase Wallet
  • Binance Wallet

Hardware Wallets

A hardware wallet is a physical produce equipped with software that stores cryptocurrencies. Hardware wallets are only connected to the internet when making transfers, thus storing crypto securely.

Here are some good examples of Hardware wallets:

  • Ledger Nano S
  • Trezor
  • Bitcoin Paper Wallet

Software Wallets

Software wallets are pieces of software downloaded onto mobile devices and computers. These web-connected wallets are always going to be a little more vulnerable than hardware wallets, but they’re more convenient for everyday crypto use.

Use software wallets to store IOTA that you plan to trade or spend in the next few days. Use more secure wallets like hardware wallets for long term storage.

Here are some good examples of Software wallets:

  • Exodus Wallet
  • Jaxx Wallet
  • Bitcoin Core

Best IOTA Wallet on Mobile

AppleAndroidApple x Android

Best IOTA Wallet Apple

The Guarda Wallet is probably the best wallet solution available for IOTA users with Apple phones. It’s an intuitive and secure multicurrency wallet that’s cross-compatible with desktop browsers.

Best IOTA Wallet Android

Guarda is probably the best IOTA wallet available for Android mobile users. A web wallet, Guarda will be available to anyone with access to the internet, so you’ll be able to use it on your computer as well.

IOTA is not the most well-supported cryptocurrency for mobile, but there are more IOTA wallets than ever for Android and Apple anyway. Check out the key differences between important crypto apps below:

Apple

  • Only works with applications made for its own software
  • Most Cryptocurrency apps and wallets are instantly banned on the Apple store due to violations of T&C
  • All app publishers need to be identified and cannot be anonymous

Android

  • You can run any application on Android
  • You will find any app on the Play store, even the ones that are scams
  • You can run crypto mining applications and scripts on your device

There are tons of options when choosing an IOTA wallet. IOTA is an innovative digital currency, and developers around the world are finding useful ways for users to store and transact with their IOTA.

When evaluating IOTA wallets, choose one with verifiable security. Also make your choice based on ease of use and compatibility with other cryptocurrencies and altcoins that you enjoy using.

When making your choice, look to third party discussion forums like Reddit and BitcoinTalk Forum. Here, unbiased users will have candid conversations about their experience with each wallet option, so you will learn what it’s like the use in real life.

When you finally choose an IOTA wallet, make sure to keep the keys and passwords secret. This way you’ll never lose access to your IOTA, and no one will be able to steal them from you. Good luck, and happy investing!

More Cryptocurrency Wallets

FAQs

Can I store all my cryptocurrencies in the same wallet?

For the most part, yes. There are many multicurrency wallets which can be used to store all of the major cryptocurrencies. However, as new cryptocurrencies and altcoins are added to the markets each day, there is no wallet option that’s truly universal. If you trade in very new or obscure altcoins, chances are you’ll need multiple wallets. Also, as no wallet can fulfill a user’s need for security, convenience, and universal support in a single piece of software, users will likely need multiple wallets for each requisite use case.

Can I send IOTA to a Ripple or Ethereum wallet address?

Definitely not! Only send IOTA to another IOTA address. Sending IOTA to any other kind of coin address will most likely result in the loss of your funds, and there won’t be any way to recover them.

What is the best Way to keep my Cryptocurrencies safely stored?

If you want to store cryptocurrencies like IOTA for the long haul, use a hardware wallet. Hardware wallets are small physical devices that house offline apps. Each app stores the keys associated with the ownership of your coins. When connected to the internet, the apps spring to life and let you do anything you want with your MIOTA. When offline, the hardware wallet prevents hackers from being able to access your coins.

23 thoughts on “Best IOTA Wallets

    1. Hello Peter. Thank you for your question. Yes, you can definitely do that but not on all exchanges. There are only a few of them that allow you to pay for Bitcoin with your credit card and that is normally not an option for software and hardware wallets. The platforms that allow you to do this are eToro and Coinbase, so if you consider this to be a requirement when choosing your exchange, then you should definitely go for one of the two. We recommend eToro, but you can make a more informed choice by visiting both our Coinbase and eToro reviews to find out more about them.

  1. I really wanted to create a IOTA wallet on eToro but I cannot afford to spend $250 right away. Are there any cheaper exchanges?

    1. Hello Petra. Thank you for your question. We understand your concern and the fact that $250 is a significant amount to even start trading. The thing is that most of these exchanges require a minimum deposit of $200-$250, so there is not much you can do about that. There are a few platforms that require lower minimum deposits but it often is too good to be true because even though you have to pay less at the beginning, they have much higher fees than the exchanges that require deposits of $250. For example, eToro requires a deposit of $250, but it has really low fees, meaning that in the long term you will definitely save up more money than you would on most of the other exchanges. I think the best thing to do in your case would be to wait a while, until you can afford the initial deposit, and then sign up on eToro. I hope that helps.

  2. I am definitely convinced that I want to create a IOTA wallet on one of the exchanges you recommend, but I am worried about losing my funds to hackers. Is there anything I can do?

    1. Hello Steven. Thank you for your question. That is definitely a legit concern considering that a lot of hackers target these kinds of platforms. The best thing to do about this is to do some in-depth research as to which one of these exchanges adopts the most effective security measures. Other than that, we suggest going on the website of the exchanges you are the most interested in and have a look through their terms and conditions and legal section to see if they have a refund policy in case of hacking attacks. Otherwise, you can just contact customer support to see if they have a refund policy, that might be quicker, but it is up to you. I hope that helps.

  3. I’ve been thinking about creating a IOTA wallet on Exodus because I want to buy mostly IOTA but also other cryptocurrencies and I want to store them all in the same wallet for convenience. I know Exodus allows you to do that. Can someone walk me through the sign up process?

    1. Hello Michelle. Thank you for your question. All you have to do is go on the official website and download the Exodus software. To create an account, you will be requested to type in a few of your personal details, including full name, email address and password. After that, you’ll be able to access the trading platform and on the left side of the screen you will be able to click on “wallet”, where you will get a chance to store all the IOTA and other cryptocurrencies you want. To do that, you will have to select your preferred currency and then your options will pop up. You can choose whether you want to send, receive or trade IOTA or whatever cryptocurrency you’ve selected.

    1. Hello Luis. Thank you for getting in touch. What you should remember about the difference between the two is that software wallets are accessed online whereas hardware wallets can be accessed without an internet connection. It is for this reason that for long term storage we recommend hardware or paper wallets. The fact that they are offline basically makes it impossible for hackers to access the private keys. As for software wallets, even though they try to adopt security measures to stop that from happening, they are still targets of hackers.

  4. Hey there. Thanks for this review. It hasn’t been easy to find a comprehensive review with some detailed information about cypto wallets. I wanted to ask: could I send a cryptocurrency like Litecoin to a different IOTA wallet address?

    1. Hello pa41. Thank you for getting in touch. Please keep in mind that you should never do that as it would mean risking to lose all of your cryptocurrencies. A Litecoin, using your example, would never reach a IOTA wallet address. The same goes for IOTA being sent to an Ethereum, Litecoin or any other cryptocurrency wallet address that is not IOTA. If you were to do that, you could lose your IOTA, with no possibility of getting it back. I hope that helps.

    1. Hello skw75. Thank you for your question. You will definitely be able to access your wallet on your smart phone, both if you have an iPhone or Android phone. In both cases, we recommend creating a wallet on eToro, which will allow you to access the wallet through your phone. In general, the eToro platform is one of the most well-reputed and reliable exchanges you can find, suitable not only for storing but also for trading. It has 10 million users worldwide, it is regulated and adopts sophisticated safety measures. To find out more about it, feel free to check out our eToro review. If you have an iPhone, we also recommend Blockchain.info.

    1. Hello lin530. Thank you for your question. There are quite a few reasons why we consider eToro to be one of the best exchanges to buy and store IOTA on. First of all, eToro is a regulated exchange and is preceded by a reputation as one of the most reliable and efficient exchanges on the market. It comes to no surprise that it has over 10 million users worldwide. On top of this, eToro uses PayPal, among others, as a payment method, which definitely adds to the security during deposits and withdrawals. It also offers a great variety of assets to choose from, its trading platform is very intuitive and easy to use and the verification process only takes a couple of days. You can have a look at our eToro review to find out all the details.

  5. Hello there. Thank you for this review, it is really helpful, especially the part where you suggest what platforms are recommended depending on which country you are based in. I wanted to ask, if I am based in the UK, which platform would be better to store my IOTA, Binance or eToro?

    1. Hello Ju501. Thank you so much for your kind words, it was our pleasure to help. About your question, I am not sure I can give you a definite answer. They are both excellent exchanges that offer secure and safe wallets to store your cryptocurrencies. Like all platforms of these kind, they both have certain strengths and weaknesses so I would recommend having a look through our Binance review and eToro review to find out more details about them. I hope doing that will help you make up your mind. Good luck.

    1. Hi Aleksander. I understand your concern. Deciding whether or not to invest in cryptocurrencies is always difficult because it is hard to predict in which direction the value of the currency you want to invest in will go. What we can reassure you about though, is that the wallets that we’ve mentioned in this review, so eToro, Markets.com, Binance, Coinbase and so on, are some of the best and safest wallets to store IOTA that you can find. Best of luck with your decision.

  6. What is the best type of IOTA wallet? I have been searching for days and cannot make up my mind. Someone help me?

    1. Hello Bruno46, the top wallets recommended by the cryptocurrency community to store your IOTA coins are eToro, GUI IOTA Light Wallet, Guarda Wallet, and IOTA Wallet Trinity.

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