This is an update to the article I wrote last year about my recommended wallets at the time.
While researching this article, I came across other comparison articles that include Exchanges like Binance and hardware wallets in their comparison of software wallets. To avoid confusion, I will limit this article to software wallets only. Although Exchanges have wallets, you cannot stake or use their wallets in smart contracts so I do not consider these as real wallets. Hardware wallets are a different category and actually most if not all of the wallets I mention in this article can support hardware wallets so I will not mention them to avoid confusion.
In Cardano’s infancy, the only way to manage your ADA was through Daedalus. Since it is a full node wallet, you needed to download the entire blockchain onto your computer. This took a few hours at least depending on how powerful your computer is. There were complaints but no one can really do anything about it as there was no alternative.
Fast forward a few years and the Cardano wallet options has totally changed. There is now the concept of light wallets where the client need not download a copy of the full ledger. This greatly improved the user experience especially for new users who are creating their first wallets. Gone are the long download and setup times where only true Cardano fans were willing to go through. The first of these wallets was Yoroi by Emurgo.
These light wallets came just in time and were all upgraded to perform delegation tasks when staking went live in late 2020.
When NFT’s arrived in the Cardano ecosystem, it brought with it the need to manage and view these NFT’s inside wallets. One of the first wallets to provide this capability was Nami wallet. Not everyone needed this capability as you can still view NFT’s outside of your wallet. Thus not all wallets created this capability.
With the introduction of smart contracts, the capability to interact with smart contracts became a necessity. Wallets like ccvault were born which incorporated these capabilities and more.
Today, other wallets like Gero, Typhon and Flint offer good alternatives. Just remember to only install wallets from their official links.
In summary, my personal recommendation of the best Cardano wallet today is ccvault.io due to its speed, ease of use and smart contract interaction capabilities. If you prefer to see things for yourself, feel free to check out the other wallets that I mentioned in this article and test them. This should help you to decide which one best suits your needs.
WISH Pool is the creator of Cardano SPOT Check, an online resource for Cardano Stake Pool Operators for maintaining their nodes. We are actively helping several Cardano communities and were a recipient of the IOG delegation in 2021 and are currently a recipient of the Cardano Foundation delegation in 2022. If you like this article, we greatly appreciate if you will delegate your ADA to WISH Pool. You will be earning interest rewards while indirectly helping the lives of disadvantaged children. This is because WISH Pool pledges to give at least 10% of its own profit to educational charities so that successful students can help get their families out of poverty. Let’s help grow the community together!