Top Cryptocurrency Wallets To Keep Your EOS Tokens Safe
Cryptocurrency wallets can be a bit confusing to new users. However, taking the time to ride the learning curve is worth it given the role wallets play in securing digital assets and providing users with more financial freedom.
For EOS users, a popular token that powers the EOS.IO blockchain protocol, there is an urgency to find a good wallet to store their holdings. Since the project migrated from Ethereum to launch its Mainnet last year, its native token is no longer compatible with ERC-20 wallets.
So which crypto wallets currently available in the market can help you secure and easily interact with your EOS holdings? Here’s a look at four top EOS wallets that can suit your needs.
The Ledger Nano X (Hardware Wallet)
Ledger Nano X is perhaps one of the most popular hardware wallets that facilitates the offline storage of 1100+ different digital assets.
The wallet has a sleek flash drive like design with a button at the front that allows users to verify their coin balances conveniently. Moreover, it has a Bluetooth feature that lets you connect to your iOS or Android device to manage your portfolio.
The Ledger Nano X guarantees that your private key is never exposed, as it remains protected within a secure chip that is locked with a pin code. The wallet comes with a back-up and restores function, facilitating your accounts’ recovery if you lose your hardware device.
Crypto users who plan to hold EOS for longer periods can find this wallet particularly helpful due to its high-end security and portability. However, the Ledger Live app, which is the de-facto app of Ledger Nano X, doesn’t offer direct EOS support.
The good news is, users can still hold EOS on the wallet via a third-party app dubbed “MyEOSWallet.” This open-source, client-oriented wallet allows users to connect their Ledger Nano X device to their EOS platform to check balances and manage transactions.
What’s more, EOS holders can stake their coins on Ledger Nano X via the third-party app and thus enjoy both top hardware security and staking rewards.
Lumi (Mobile Wallet)
Lumi is a non-custodial mobile wallet that comes with an intuitive interface, making it a great choice to handle your EOS holdings. The anonymous wallet comes in IOS, Android, and web wallet versions.
Lumi wallet integrated full EOS functionality in 2019, enabling EOS users to access their account directly in-wallet and even get one for free during the regular EOS accounts giveaways.
Over 100K users trust the wallet for sending, receiving, and managing 1200+ crypto assets. It has a built-in exchange feature that allows EOS holders to swap their holdings for a wide variety of supported coins and tokens.
What’s more, Lumi wallet app users can buy digital assets via a credit/debit card. They can also sell their holdings via a single app and withdraw fiat currencies directly in their card.
Lumi is steadily increasing the number of supported coins and will soon become open-source, enabling users to customize features to fit their particular needs.
SimpleEOS (Desktop Wallet)
SimpleEOS is a desktop client for EOS that comes with a pretty neat design to make EOS holders’ lives simple. It was developed by a company called EOS Rio.
This desktop app is specifically designed to handle EOS coins and supports all the EOS.IO software features. EOS holders can have full control of their private keys as the data is stored locally in the user device, and nothing is shared on the web.
SimpleEOS has emerged as the go-to EOS Mainnet wallets for EOS users, primarily due to its transparency and enhanced security. It also offers automatic backup and support for multiple accounts.
The simple and secure wallet for the EOS ecosystem enables users to view their transaction history, create multiple accounts, and maintain a contact list. It also comes with additional functions that allow users to participate in users to vote on referendums in the EOS Mainnet and interact with EOS DApps. Users of the app can also stake their EOS and receive airdrop tokens.
Users are required to download a full copy of the EOS blockchain to run the app. Once synchronization with the blockchain is finalized, the app enables users to easily hold and manage their EOS on Mac, Windows, and Linux operating systems.
EOS Authority (Web Wallet)
EOS Authority is a web wallet that offers an easy way to store and access EOS tokens without any additional hardware or software.
It allows private keys to be encrypted and kept in any web browser. Users get a password and seed for this, which they must keep extremely safe.
The wallet comes with an intuitive and lightweight GUI interface and is very easy to operate. EOS holders can also use the wallet to manage their CPU power, participate in voting, and create new accounts, absolutely for free.
The article above has looked into some of the best EOS wallets to secure your EOS tokens today. The choice of wallet, be it mobile, desktop, or hardware, should be directed by a user’s transaction and holding needs.
If you want to interact with the crypto market and trade actively or stake your EOS regularly, you might be better off with a highly-secured mobile or desktop wallet app.
On the other hand, if you plan to hold your EOS tokens as a long-term investment, your better bet would be a secure hardware wallet.