Trying to figure out which wallet you should be using for the Avalanche network and AVAX tokens? Let us do the grunt work and compile a list of the 5 most secure and best AVAX wallets.
It is important to take into consideration a range of features such as, ease of use, user interface, security and compatibility. We will cover both hot wallets and cold wallets, as always if you are wanting the highest level of security for your crypto you should be using a cold wallet to store your tokens.
The Five Best AVAX Wallets of 2022
- Metamask (Most Popular)
- AVAX Wallet (Avalanches Native Wallet)
- Ledger (Most Secure)
- Exodus (Mobile Wallet)
Perhaps the most popular browser wallet in the crypto space is Metamask, and for good reason.
Metamask supports a wide range of networks including Avalanche and comes in top of the list due to its high security, continuous updates and for the range of networks supported. Avalanche is not set up on Metamask by default so you have to add it manually, this is very simple and can be done using the below network details.
- Network Name: Avalanche Network
- New RPC URL: https://api.avax.network/ext/bc/C/rpc
- ChainID: 43114
- Symbol: AVAX
- Explorer: https://snowtrace.io/
To read a full tutorial on how to do this check out our adding Avalanche to Metamask tutorial here.
A big reason Metamask is ranked number one is due to its popularity. This means that the majority of protocols chose Metamask as the wallet of choice when connecting to a protocol. By using Metamask you can be assured that you will be able to connect to and use a majority of protocols in the crypto space without having to download another wallet.
Avalanche has a native wallet designed specifically for the Avalanche network which we place high on the list for its security and support of the Avalanche chain. The Avalanche wallet is a browser based wallet.
The AVAX wallet is a non-custodial wallet meaning you have complete control over the wallet keys. When using the Avalanche wallet you have a choice between three different networks you can use. The X-chain which is used for storing assets, the C-Chain which is used for interacting with protocols and smart contracts and the P-Chain which is used for staking.
It may sound confusing but once you wrap your head around it it is very easy to use, just bear in mind that each separate chain has its own wallet address. You can however store your AVAX tokens in any of the three chains.
Ledger is one of the most known and secure cold storage hardware wallets in the crypto currency space. It was tempting to place this first on the list due to it being the most secure by far however due to the previous two having perhaps easier usability it comes in third.
Holding your AVAX tokens and other cryptocurrencies on a ledger or another cold wallet will give you peace of mind that your assets are safe and secure as long as you have not shared your seed phrase with anyone.
The one downfall of using a Ledger to store your AVAX is you generally can’t connect your ledger to protocols to participate in activities such as DeFi. Ledgers and other cold storage wallets are generally for assets you plan to hold long term or do not want to actively use.
Exodus is perhaps the most popular mobile wallet and offers a super user- friendly user interface and a wide range of features such as staking.
Exodus offers a very easy to use mobile app that supports over 200 cryptocurrencies including Avalanche, Bitcoin, Ethereum and many others. Built for both beginners and users experienced in the space Exodus offers both a mobile app and a desktop version of the wallet. Exodus also has a browser extension version of the wallet similar to how Metamask works.
One feature that makes Exodus stand out from the above wallets is its range of features, as mentioned before Exodus offers multiple different staking possibilities and a wide range of supported tokens to stake.
At the time of writing this Exodus offers 19.5% APY when staking ATOM and 185% when staking Ontology. You can view all their offers including a staking calculator to see how much you can earn here.
Another feature that makes Exodus stand out from the rest and also makes it really stand out to beginners in the space is its fiat to crypto onramp. Exodus allows users to purchase cryptocurrency directly from the Exodus wallet using their Visa card.
As well as offering support for over 200 cryptocurrencies Exodus also supports NFTs
Above we have listed 5 different wallets with different strengths and use cases. If you are purely looking for a wallet to just store your AVAX tokens then I would recommend going with a hardware wallet such as the Ledger. However if you are actively wanting to use your AVAX tokens I would recommend the Exodus wallet due to its wide range of features such as staking.
As always do your own research and always take security into consideration when choosing which wallet to use.