In addition to an interesting name, Polkadot has a few things that make it an excellent blockchain network with a bright future.
First, it can handle 1000 transactions per second (TPS) which are further scalable to millions. Second, it allows transferring assets/data among different blockchains in the Polkadot network.
In addition, it’s easier for developers to begin and is a very energy-efficient blockchain. Finally, you have some very capable people handling the core affairs, including the Ethereum co-founder and CTO, Dr. Gavin Wood.
Overall, crypto enthusiasts see Polkadot as the one who can stand the test of crypto-difficult times.
However, as the end consumer, what matters to you most after choosing a blockchain to participate in is a wallet.
How to Choose the Best Wallet?
Since there are many options to pick from, it can be confusing for beginners.
A few things to consider are:
✅ Custodial or non-custodial: Here, you have to decide if you want to manage the private keys yourself or let your wallet provider secure them. Custodial wallets keep the private keys to themselves, whereas non-custodial (aka self-custodial, user-owned, etc.) is where you bear this responsibility.
✅ Multi-chain or not: Multi-chain wallets are made for most cryptocurrencies. Consequently, you might miss out on some Polkadot-specific features. However, there is little choice if you have a diverse portfolio and still want to participate in a few DOT-only protocols.
✅ Platform Availability: Where will you use that crypto wallet? Since crypto is super volatile, you might want to watch it closely with the device you’ll use maximum. Desktop presence is great, but mobile applications are crucial for many users.
So if you’re done thinking and ready to sail into the DOT ocean, check these crypto wallets to do it right.
Disclaimer: This is not investment advice. Investing in crypto is risky.
Nova is a made-for Polkadot (and Kusama) non-custodial wallet that supports 230 tokens as of this writing.
This wallet is feature packed and allows you to do NFTs, staking, DApps, Crowdloans, etc., with a single interface. Besides, it makes token transfers simple with its support for 250+ cross-chain channels.
Coming to staking, you get one-click access and can choose between recommended validators or make your own picks. In addition, the staking dashboard has analytics and allows for superior management, including un-staking, managing unpaid rewards, etc.
On the security front, it protects users from phishing with its in-built DApp browser protection.
And while it easily supports all of Polkadot DApps, you can also use a few EVM dApps via Metamask.
BitKeep is a multi-chain self-custodial wallet that is focused on crypto trading. Currently, it grants access to 250k+ tokens and has over 10 million users onboard.
The primary feature of BitKeep is to buy, send, receive, and swap DOT tokens across 90+ mainnets.
Put simply, it’s best for someone invested in multiple cryptocurrencies, and Polkadot-related features are limited at the moment.
Binance-owned Trust Wallet is a self-custodial all-rounder multi-chain wallet which you can use to manage your DOTs token.
The biggest benefit of Trust Wallet is its Binance heritage which lets you send, receive, buy, and swap DOTs easily with scores of other cryptocurrencies.
You can expect top-notch security and an excellent user interface. Still, the lack of extra Polkadot-specific features leaves little room for DOT enthusiasts to do anything else.
With access to over 200 cryptocurrencies, Bit2Me comes with rare, personalized support for its users 24/7 by chat, phone, or email.
The highlight of the Bit2Me wallet, other than the regular buy/sell/receive, is micropayments and instant global settlements.
Bit2Me supports multiple channels to add/withdraw funds, including crypto, bank transfer, cards, and cash. In addition, one can deposit/accept payment with friends and use a Bit2Me card (for withdrawals).
Every Bit2Me user can also have a shared IBAN account with a SWIFT / BIC code for local and international payments.
It’s available to use on the web, iOS, and Android.
YouHodler gets you started with a $10 deposit bonus and has a few more things like Multi HODL, crypto loans, and dual asset mining, making it an interesting proposition.
Multi-HODL is where a user’s YouHodler wallet balance is used to start a chain of crypto-backed loans. The loan amount is subsequently used as collateral every time for more crypto loans. This step repeats itself two to 100 times based on the Multi-HODL settings. Finally, the idea is to sell crypto for a profit.
Likewise, dual asset mining guarantees returns in one of the currencies of your choice. In addition, YouHodler lets you lease your DOTs tokens as collateral for loans in fiat currencies and stablecoins.
Moreover, this wallet gives access to next-generation web3-banking, has an in-built exchange, and combines cold and hot storage for excellent security and flexibility.
YouHodler is available as a web wallet and has native applications for iOS and Android.
Atomic is another well-known multi-coin wallet you can easily use to trade and manage DOTs. It has got a decent user interface and built-in crypto exchange to get going.
Atomic Wallet supports 1000+ crypto coins, has staking options for 20+ coins (no Polkadot yet), and cashback schemes on 100+ crypto coins.
The best part of Atomic Wallet is the no-registration setup, where you don’t have to enter any personally identifiable information. In addition, this is another non-custodial wallet.
A few more features include buying with a card, multi-platform presence, 24/7 support, etc.
Atomic Wallet has apps for Windows, MacOS, Linux, iOS, and Android.
Adding to the number of multi-chain, self-custodial wallets, Exodus is a crypto tool with basic functionality for DOT holders.
You will have the primary operations like buying, selling, receiving, swapping, and sending. In addition, the in-built crypto exchange supports these trading operations.
Moreover, Exodus supports managing NFTs and allows access to DApps. You can also couple Exodus with Trezor for the ultimate security while trading cryptocurrencies.
Besides Polkadot, Exodus opens access to 260+ cryptocurrencies.
Overall, it’s for someone who has a multi-coin portfolio and isn’t very focused on DOT-only things.
Exodus has applications for Windows, MacOS, Linux, iOS, Android, and browser extensions for Chrome and Brave.
As the name suggests, Polkawallet is the ideal choice for someone neck deep in the DOT ecosystem.
Polkawallet brings all of Polkadot’s network under its hood and lets you manage every asset with ease. You can dabble among its para chains, transfer via QR code, enjoy offline signature for robust security, and check real-time on-chain data.
Its staking section presents excellent insights into choosing reliable validators. Besides, the staking dashboard allows effortless management, including staking/unstaking, nominations, payouts, etc.
Not just this, you can view governance proposals, take a vote, create proposals, select council members, participate in discussions, and do many DOT-specific things with Polkawallet.
Guarda is a multi-chain wallet that provides robust security with its user-owned private keys. It’s a gateway to thousands of crypto assets, including Polkadot.
Apart from the usual buy, sell, receive, and swap, Guarda has crypto loans which allow DOT as collateral. And though it offers to stake in a few cryptocurrencies, Polkadot isn’t on the list.
Guarda also features a prepaid visa card a user can fund using cryptocurrencies and use like any regular bank card globally.
Overall, Guarda is a solid choice for someone into many crypto assets, especially if you’re okay with restricted exposure to the Polkadot ecosystem.
Guarda covers all major platforms, including the web, Windows, MacOS, Linux, Android, and iOS.
With exposure to over 150 chains, Talisman is one of the best multi-chain wallets on this list, with significant Polkadot features to play with.
It’s a non-custodial wallet with support for over 100 crypto assets. You can also integrate Talisman with Ledger hardware wallets for the best of both worlds.
It promises “all things Polkadot” in a single place, including staking, crowd loans, NFTs, DApps, and more. In particular, it has pool-staking, where you can start with as little as 1 DOT.
This independently audited wallet is available for all major browsers, such as Chrome, Edge, Firefox, Safari, etc.
Infinity Wallet is a multi-currency, self-custodial wallet which offers basic trading operations, including buying, selling, exchanging, and sending Polkadot.
The most useful feature of Infinity Wallet is arguably portfolio monitoring. It lets you track Polkadot performance or your entire portfolio. In addition, you can set custom price alerts to get notified accordingly.
One can also use this wallet for trading NFTs, using DApps with Wallet Connect or its Web3 browser, and to check the best deals among all supported decentralized exchange platforms for lucrative swaps.
Infinity Wallet has a cross-platform presence with native applications for Windows, Linux, and MacOS, and support for Android and iOS is coming soon.
Paybis is a custodial multi-coin wallet you can use anywhere to buy, sell, or store Polkadot tokens.
The main selling point of Paybis is the simplistic interface. Notably, you’ll go through a KYC process to use it.
Lastly, this is very limited in its Polkadot scope, and this web wallet is devoid of things like staking, crypto loans, etc.
Which Is Your Favorite DOT Wallet?
Straightaway, Talisman, and YouHodler are the best options for a Polkadot-savvy user wanting a multi-chain wallet. Besides, Nova and Polkawallet are great wallets for Polkadot-only investors.
All other options represent wallets that have little DOT things to do and are primarily focused on selling, buying, and swapping.
Hitesh works as a senior writer at Geekflare and dabbles in cybersecurity, productivity, games, and marketing. Besides, he holds master’s in transportation engineering. His free time is mostly about playing with his son, reading, or lying… read more