In 2021, nearly every segment of the cryptocurrency industry experienced tremendous growth. The constant inflow of institutional capital may be taken as an indication that the best is yet to come.
Finding out how to purchase cryptocurrencies can be a challenging undertaking for novice users, and the problem of protecting the assets off exchanges is another hurdle that some investors face.
Here’s a rundown of the most popular cryptocurrency soft wallets, which support a wide range of tokens and provide users with decentralized financing (DeFi), nonfungible tokens (NFTs), staking chances, and airdrops.
MetaMask was created with the intention of supporting the Ethereum blockchain and the decentralized apps (DApps) that run on it. It’s now accessible as a browser plugin as well as a smartphone app.
Since its inception in 2016, the firm has grown to become one of the most popular and widely integrated wallets, as well as one of the few that support practically every blockchain network.
Hundreds of blockchain networks are supported by MetaMask, including many of the top smart contract competitors, according to a quick scan of the supported networks on Chainlist, a platform that provides a list of Ethereum Virtual Machine (EVM)-compatible networks and instructions on how to add any listed network to their MetaMask wallet.
Currently, MetaMask supports Avalanche, Fantom, Binance Smart Chain, Polygon, HECO Mainnet, Optimism and Arbitrum, and it’s easy for users to use various bridges to transfer tokens between the supported networks.
MetaMask has also integrated a swap feature directly into the wallet to give users access to an aggregated list of decentralized exchanges (DEXs). According to data from Dune Analytics, the daily swap volume on MetaMask swap has steadily increased throughout 2021.
The rise in swap volume has also come alongside rumors that MetaMask will eventually release a token of its own and many users are anticipating an airdrop.
For Solana network users, Phantom is a popular software wallet and browser plugin.
Phantom offers a built-in DEX, similar to MetaMask, that allows users to make direct swaps within the software, avoiding the risk of connecting to a scam website or incurring gas fees to send cash out of the wallet to another exchange.
Phantom is rumored to be launching its own coin and giving out a percentage of the supply to early adopters. So far, though, this is all supposition, and the developer has made no mention of it.
Users can also transact with various NFT marketplaces using the wallet’s NFT tracking tool.
Phantom users can stake Solana (SOL) tokens without having to transfer them, just like they can with conventional wallets. The team just announced a collaboration with MoonPay, which would allow users to use fiat currencies and credit cards.
The Keplr wallet and browser extension for the Cosmos network is the first IBC-enabled wallet and browser extension that allows users to store and access tokens within the ecosystem.
Cosmos, Secret Network, Kava, Crypto.org, IRISnet, and Persistence are among the more than 15 networks it presently supports, and the team is constantly adding support for new chains, with numerous projects currently in beta.
The Keplr wallet allows holders of compatible tokens to stake their holdings directly, and the software is available for Android and iOS smartphones.
There are currently no reports about a prospective Keplr token or airdrop to users, but nothing is certain in the crypto world. If Keplr incorporates popular features such as its own swap interface or an NFT marketplace, the possibility of a native token exists.