Which are The Best Crypto Wallets to Store Tezos (XTZ) Tokens?
Tezos (XTZ) is an open-source smart contract platform backed by a global community of validators, researchers, and builders. Launched by Arthur and Kathleen Breitman in 2017, the primary idea behind Tezos was to develop a community-backed platform where all token holders will have the power to make decisions via a unique voting system. Leveraging a proof-of-stake consensus mechanism, Tezos confers power to its community to steer the project.
Its own cryptocurrency powers the Tezos blockchain referred to as Tezos (XTZ). XTZ serves two main purposes- self-administration system and creation of launch contracts via the Michelson programming language. If you are looking to convert FIAT into XTZ or are looking to exchange other cryptocurrencies for XTZ, you’ll need a safe, efficient, and reliable XTZ wallet.
However, Tezos lacks an official wallet for storing XTZ tokens. Nonetheless, there are plenty of outstanding third party wallets for storing XTZ tokens. Here’s an in-depth look at the best hardware, web, mobile, and desktop wallets for storing XTZ tokens.
Best Tezos (XTZ) Crypto Wallets
Hardware Wallets For Tezos (XTZ)
Ledger Nano S
The Nano S wallet from Ledger features a USB design with excellent security. Released several years ago, the Ledger Nano S has sold over 1.3 million copies making it the most successful hardware wallet globally. The Nano S supports over 1 500 different cryptocurrencies and tokens.
Ledger Nano S integrates with Ledger Live Software, allowing users to view their portfolios in real-time and send and receive cryptocurrencies. In terms of security, Ledger Nano S is entirely transparent, with the network fees shown transparently in the Ledger Live software. Besides, the wallet implements outstanding security protocols to secure the private keys of cryptocurrencies. Tezos holders can store XTZ coins and enjoy unparalleled security with high transaction efficiency. However, users should install the latest firmware to support XTZ.
Trezor Model T
In May 2019, SatoshiLabs upgraded its Trezor One wallet to the Trezor Model T adding support for more cryptocurrencies, including XTZ coins. The Model T features the innovative Trezor Bridge software, which serves as a “bridge” between the Trezor hardware Wallet and numerous third-party software wallets. However, the SimpleStaking Wallet must be used to store Tezos on the Trezor hardware wallet.
Some of the outstanding features of Trezor Model T fast processor, touchscreen, Trezor Core firmware, a micro SD card slot, and a USB type C port. Additionally, the wallet is highly secure, considering that it disconnects from the Internet when not connected to the computer.
Web Wallets For Tezos (XTZ)
TezBox is the first of the decentralized functional GUI (Graphical User Interface) Wallet launched during the Tezos Initial Coin Offering (ICO) by a developer from the Tezos community. The wallet is specifically designed to store XTZ coins and currently available for web (Google Chrome), desktop (Windows and macOS), and mobile wallets (Android). A Linux and an iOS version will be released in due course. Being a Tezos specific development, the TezBox wallet supports participation in on-chain governance.
TezBox is user-friendly and stores users’ private keys exclusively on the user’s device. TezBox is the first Tezos wallet integrated with Trezor and Ledger Nano S for increased security. User-friendly interface, high security, and integration to Ledger Nano and Trezor hardware wallets make TezBox an outstanding Tezos wallet.
Galleon wallet is an open-source wallet framework for Tezos tokens. Being a deployment of Tezori, Galleon wallet allows its users to interact with Tezos Contracts and delegate XTZ, with an easy-to-use interface designed specifically for beginners. Galleon wallet is available in eight different languages and supports the use of a Ledger hardware wallet. The wallet is available on both Windows, Linux, and Mac.
Atomic wallet is another outstanding Tezos wallet designed for individuals who participate in Tezos OnChain governance and looking to store multiple cryptocurrencies in a single wallet. The wallet supports over 300 cryptocurrencies. Apart from storing XTZ, Atomic wallet supports staking for Tezos with built-in crypto with a credit card option offered by Simplex. The wallet also features a custom token feature where users’ can manually add any ERC20 token in seconds. It’s also linked to Changelly and Shapeshift exchanges for instant crypto exchanges.
The wallet employs a multi-key system with users’ private keys to secure users’ coins, and transaction data encrypted-third parties cannot access it. Atomic wallet is available as an App (Android and iOS) and Desktop (Windows, macOS, Ubuntu, Debian, and Fedora) versions.
Mobile Wallets For Tezos (XTZ)
Trust Wallet recently added support for Tezos. In addition to multiple coins, the Trust Wallet can store ERC20, ERC721, and BEP2 tokens. It also connects to DEXes, such as Binance. Trust Wallet is designed for mobile devices with simple installation and outstanding features, including integration with the Binance infrastructure.
Tezos.Blue is a superfast light wallet that allows users’ to keep your token anonymously and securely in the Tezos network. While it’s lightweight, the wallet is highly secure with a multilevel encryption system. The wallet app is currently available on all operating systems but lacks a browser interface. It’s currently available in Apple’s beta program TestFlight.
Closing Words – Best Wallets for Tezos (XTZ)
For any XTZ holder, keeping your coins safe in wallets should be a priority considering that numerous crypto exchanges have been hacked recently. While hardware wallets offer outstanding security, enabling your private keys to remain out of reach of hackers, web, and mobile wallets such as Trust Wallet and Atomic Wallet are a great option. The Tezos wallets discussed above are not only safe but also pack plenty of features allowing XTZ holders to send, receive, stake, and exchange their coins directly from the wallet. As Tezos undergoes further developments, we can expect many more outstanding XTZ wallets.