Near Protocol is a popular decentralized layer-1 blockchain that adopts the Proof-of-Stake consensus mechanism. It provides Web3 builders with the right developer tools to create and deploy decentralized apps. Near Protocol has a native token, NEAR, which is used to pay transaction fees. If you want to buy NEAR, you need a wallet compatible with the token. This article introduces the leading wallets for storing NEAR.
What Do You Look for in NEAR Wallet?
There are several factors that you should consider when selecting a NEAR wallet. Some include:
Security
All crypto investors should take the security of their wallets seriously to avoid losing funds to cybercriminals. That said, when picking a NEAR wallet, check whether it employs security measures like hardware wallet integration and two-factor authentication.
Ease of Use
If you are a beginner, selecting a wallet you can easily use is vital. So, how do you know a NEAR wallet is easy to use? Check if it has a simple user interface and tutorials to help you navigate.
Compatibility
A recommended NEAR wallet must be compatible with your device. For instance, if you plan on using the wallet on your phone, check if it can run on your device’s operating system.
Features
A good NEAR wallet shouldn’t be just for storing the token. It must have other features, such as staking and the ability to interact with decentralized apps.
Reputation
It is important to read customer reviews of a particular wallet to know whether it has a good reputation. Only use a NEAR wallet that is trusted by the crypto community.
7 Top NEAR Wallets
Coinbase Wallet
This wallet is a product of the second-largest crypto exchange, Coinbase. It is non-custodial, meaning users retain complete control over their NEAR tokens. Coinbase Wallet lets you access the decentralized finance space to explore investment opportunities. What’s more, you can use the wallet to store NFTs.
Coinbase Wallet is available as a mobile app and browser extension, thus providing much-needed convenience to crypto users.
Uphold Wallet
Along with offering a crypto exchange, Uphold provides a self-custodial wallet, which supports multiple chains like the Near Protocol. That means it is possible to store NEAR tokens on the Uphold wallet. What’s more, you can also maintain your fiat currencies.
Ledger Nano X
This wallet lets you store your NEAR tokens offline, thus limiting cybercriminals from accessing them. Ledger Nano X was launched in 2014 by eight crypto gurus with vast experience in software development, cybersecurity, and hardware engineering.
Over the years, the eight individuals have received funding from various venture capitalists, allowing them to develop their product further.
Trezor Model T
This is another top-notch hardware crypto wallet that boasts several security measures. To store your NEAR in Trezor Model T, you need to install the NEAR application on your Trezor device and then set up a NEAR wallet.
Trezor Model T was launched in 2013. Marek and Pavol Rusnak are the brains behind this project. The two have experience in software development, security, and cryptography.
SafePal S1
With SafePal S1, your private keys are kept offline. This makes the wallet one of the safest. Besides NEAR, you can store more than 250 other cryptocurrencies in SafePal S1.
The wallet was introduced in 2016 by a team of experienced cybersecurity and cryptocurrency professionals.
Guarda Wallet
With Guarda, you can easily swap tokens without leaving the wallet. The non-custodial wallet can be downloaded as a browser extension and a mobile or desktop app. Guarda entered the market in 2017. Besides NEAR, you can store over 1,200 other digital tokens.
Trust Wallet
This wallet was acquired by crypto exchange Binance in 2018 after its founder, Viktor Radchenko, put it on sale. Over the last five years, Trust Wallet has expanded its support for blockchains. One of the chains it now supports is Near Protocol. Notably, you don’t incur transaction fees if you hold at least 100 of Trust Wallet’s STWT tokens.
Conclusion
The wallets discussed above are secure and reliable for storing NEAR tokens. The top NEAR wallet for you depends on your preferences.
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