Almost every segment of the crypto sector experienced exponential growth in 2021. The constant influx of institutional funds can be interpreted as a sign that the best is yet to come.
It can be a daunting task for new users to learn how to acquire cryptocurrencies, and the challenge of protecting assets on exchanges is another hurdle that some investors find difficult to overcome.
Below is an overview of some of the most widely used cryptocurrency software wallets that support a wide variety of tokens and give users access to decentralized finance (DeFi), non-fungible tokens (NFT), betting and giveaway options.
MetaMask was originally launched to support the Ethereum blockchain and the decentralized applications (DApps) that run on it. It is now available as a browser extension and smartphone app.
Launched in 2016, the company has made great use of the first-mover feature, becoming one of the most well-known and integrated wallets and one of the few that supports almost all blockchain networks.
A quick look at the networks supported on Chainlist, a platform that provides a list of networks compatible with the Ethereum Virtual Machine (EVM) and instructions on how to add any of the listed networks to your MetaMask wallet, reveals hundreds of blockchain networks supported by MetaMask, including many The best smart contract competitors.
MetaMask currently supports Avalanche, Fantom, Binance Smart Chain, Polygon, HECO Mainnet, Optimism, and Arbitrum, and it is easy for users to use different bridges to transfer tokens between supported networks.
MetaMask has also integrated the switch functionality directly into the wallet to provide users with access to a comprehensive list of decentralized exchanges (DEX). According to data from Dune Analytics, the daily exchange volume on MetaMask exchanges has grown steadily throughout 2021.
MetaMask changes the daily volume. Source: Dune Analytics.
The increase in exchange volume is also linked to rumors that MetaMask will eventually release its token, with many users anticipating a drop.
Phantom is a popular software wallet and browser extension available to users of Solana Network.
Like MetaMask, the Phantom wallet has a built-in DEX that allows users to make changes directly to the software, thus avoiding the risk of connecting to a fraudulent website or paying gas fees to transfer funds from the wallet to another exchange.
Rumor has it that Phantom may release its own token and pass it on in part to early adopters. However, this is nothing more than speculation so far, and the developer hasn’t mentioned anything yet.
The wallet also has an NFT tracking feature and users can shop on the available NFT marketplaces as well.
Like other wallets, Phantom users can bet Solana (SOL) tokens without having to transfer assets. The team recently announced a partnership with MoonPay that will allow users to use fiat and credit cards to purchase tokens in the Solana ecosystem.
The project is also developing smartphone applications that will provide users with access to the Solana network directly from their smart devices.
Keplr Wallet is the first inter-block communication (IBC) wallet and browser extension for the Cosmos Network that allows users to store and access tokens in the ecosystem.
It currently supports more than 15 networks, including Cosmos, Secret Network, Kava, Crypto.org, IRISnet and Persistance, and the team regularly adds support for new threads with multiple projects currently in beta.
Owners of the supported tokens can bet their assets directly through the Keplr wallet, and the app works on Android and iOS devices.
At the moment, there are no rumors about a possible Keplr token or an airdrop of users, but one cannot be sure what might happen in the crypto sector. If Keplr incorporates popular features like its own switch interface or NFT marketplace, there is always an option to get your own token.
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