In the following article we present the best Cardano wallets so that you can keep your ADA easily safe. At the beginning, however, we would like to give you a short introduction to the topic by teaching you the basic technical knowledge. This is from our point of view essential to find the best Cardano wallet for you.

If you are already familiar with cryptography and wallet types, you can also skip the info box (click!) and scroll to the best Cardano hardware wallets.

The basics of cryptocurrency wallets:
A wallet for Cardano (ADA) is nothing more than a digital wallet, which is responsible for the secure storage of the access keys for the cryptocurrency. In contrast to a real wallet, it is not the cryptocurrency itself that is stored in the wallet, but the access key. The access key is the “private key”. Depending on whether it is stored online or offline, you can choose between a
  • cold wallet and
  • hot wallet.

While the private keys in a cold wallet never come into contact with the Internet, they are connected to the Internet in hot wallets. For this reason, hot wallets are clearly more insecure as cold wallets, as hackers have a point of attack over them. The moment the transaction is signed (i.e. released) using the private key, hackers have the opportunity to intercept the privates key and gain control over your Cardano.

This simple but serious difference is also the reason why crypto investment companies and cryptocurrency exchanges store most of their customers’ money on cold wallets to best protect Cardano (ADA) and other cryptocurrencies from theft.

Even if you don’t have nearly as many cryptocurrencies as the aforementioned companies, you should take an example from them! The secure storage of Cardano in the private customer area can be realized by paper wallets and hardware wallets.

In addition to these two cold wallet types, there are also three different hot wallets, which differ in that the “private keys” are stored on different media or data carriers:

  • Cardano desktop wallets
  • Cardano mobile wallets
  • Cardano online wallets
What are the Private and Public Key?

The terms private key and public key are derived from asymmetric cryptography, a method of encrypting data. This technology is used by Bitcoin, Cardano and all other cryptocurrencies to encrypt the data to be transmitted. The private key and the public key are a key pair which is inseparably connected to each other and is required for encryption and decryption.

The private key is a randomly generated string that is used to represent the ownership of the cryptocurrency. The public key, on the other hand, simply represents the wallet address, which is the receiving address of a transaction. (Strictly speaking, the wallet address is a hash version of the public key).

In contrast to the private key, the public key or wallet address is not secret. The private key, on the other hand, should never be passed on to a third party. The private key enables the owner to send and manage the cryptocurrency.

Apart of the basic knowledge, we would like to give you two clues:

1.Even before buying Cardano (click here to read our guide) you should know which wallet you want to use to store your private key. If you have already made this decision before the purchase, you can enter your wallet address as the destination address during the purchase process and thus save fees. 2.Our second advice is that you should withdraw your Cardano from an exchange or broker as soon as possible. There are two main reasons for this. As you (now) know, the private keys are the property of your cryptocurrency, so they should never be given to third parties.

But that’s exactly what you do on a trading platform that keeps the private keys for you. The second problem arises from this: cryptocurrency exchanges are popular targets for hacker attacks. The list of exchanges that have been hacked in recent years and lost their private keys and thus their cryptocurrencies is long! Therefore, you should manage the private key yourself and keep ADA on an exchange only as long as necessary.

Cardano hardware wallets

Cold storages in the form of hardware wallets are the safest and best option for the long-term storage of cryptocurrencies in the private customer sector according to the current state of the art. With established and proven hardware wallets, it is almost impossible for the private keys to be stolen from the device due to numerous security mechanisms. The main reason for this is that the private keys are stored isolated on the hardware wallet without ever coming into contact with the Internet.

Only other components of the hardware wallet are connected to the Internet to send the transaction to the blockchain. Due to the architecture of the operating system, the private keys do not leave the wallet even when signing a transaction, i.e. confirming it on the device (by pressing a button on the hardware wallet). Thus, even if hackers succeed in compromising the software needed to manage the hardware wallet (e.g. Ledger Live or Trezor Bridge), they cannot perform a transaction.

In addition, the hardware wallets presented by us have additional security functions that protect them in the event of analog theft. This means that both Ledger’s hardware wallet and Trezor can be secured with a PIN and 2-factor authentication. This makes it very difficult to steal Cardano (ADA) even in the event of physical theft.

If you want to secure your cryptocurrencies in the best possible way, then you should buy a hardware wallet, as there is currently no better storage solution. Every penny invested is worth gold in this case, as you will probably invest much larger amounts of capital than 120€ (price for our hardware wallet test winner).

The advantages of Cardano hardware wallets:
✅ Highest security standard
✅ Cold Storage: Storage of private keys offline
✅ Every transaction must be confirmed on the wallet at the push of a button.
✅ Ledger and Trezor support more than 1,000 cryptocurrencies
✅ Regular updates
✅ Very good customer support
The disadvantages of hardware wallets are:
❌ No deposit insurance as with eToro
❌ The storage of Cardano (ADA) is your responsibility. However, this can also be an advantage!
The best 3 Hardware Wallets in 2024
Hardware WalletInfoTest
Ledger Nano X kaufen

⚡ OUR test champion: The Ledger Nano X
✅ Manage 100 cryptocurrencies simultaneously
✅ Compatible with more than 1,100 cryptocurrencies
✅ Bluetooth connection for mobile wallet
✅ New flagship of the market leader
⛔ Price: 99,00 € - in the middle range

Testbericht lesen

Read our review

Ledger Nano S kaufen

⚡ Best price/performance ratio: The Ledger Nano S
✅ Very good Price: 59,90 €
✅ Compatible with more than 1,100 cryptocurrencies
✅ Proven quality: more than 1.3 million units already sold
⛔ Manage max. 5 cryptocurrencies simultaneously

Testbericht Ledger Nano S

Read our review

Trezor Model T kaufen

⚡ 3rd place: The Trezor Model T
✅ Over 1,000 cryptocurrencies supported
✅ Proven quality from Trezor
✅ Firmware is not installed on the device until you start it
⛔ In comparison to the Nano X: less features and functions 
⛔ High price: about 180 €

Testbericht Trezor Model T

Read our review

1.Ledger Nano X

In our extensive practical and comparative test of 8 hardware wallets, the Ledger Nano X is the clear test winner. Accordingly, it is also our top recommendation for the storage of Cardano (ADA). The Nano X is the successor to the Ledger Nano S, which has been on the market for several years and was upgraded with the Nano X in May 2019. Compared to the “old” model of the French hardware wallet manufacturer, the Nano X offers some new features:

  • Bluetooth function: Via Bluetooth function the Ledger Nano X can be paired with a smartphone, so that users can manage their Cardano via the Ledger Live Smartphone App without having to do without the security of the cold wallet.
  • Larger memory: The internal memory of the device has been greatly increased, so that now 100 apps (instead of 5 apps) can be stored on the new Ledger Nano X.
  • Larger screen: Not only the memory, but also the screen has been enlarged. This makes it easier to check and confirm the correct address on the device by ensuring that the reception addresses fit completely on the display.
  • Improved security chip: The central component of the hardware wallet was further improved for security reasons and certified by the French cyber security authority ANSSI.

Conclusion: From our point of view no better hardware wallet can be purchased than the Ledger Nano X! If you want to know more about the Ledger Nano X, we recommend you to read our detailed guide and test report.

Supported cryptocurrencies
The Legder Nano X can store the private keys of over 1,100 different cryptocurrencies. There is hardly a well-known coin that is not supported. In addition, new cryptocurrencies are constantly being added.

A big advantage of the Nano X over the Nano S is that it can store up to 100 apps (instead of 5) at the same time and thus manage up to 100 cryptocurrencies simultaneously.

The operation of the Ledger Nano X is very simple and intuitive and is done via the 2 buttons on the top. In addition to hardware, the Ledger Live App is required to view the portfolio and initiate transactions.
Transparency & Fees
The Ledger Live software is open source and therefore tested by the crypto community. However, the operating system is a secret. Ledger justifies this with the fact that “the level of physical security cannot be achieved with generic chips”.

The transaction fees are displayed transparently. They correspond to the network charges. There are no costs for using the Ledger services (beyond the purchase price for the Nano X).

Ledger’s technology is considered to be industry-leading and is used not only in hardware wallets, but also in the corporate sector. For example, the French company has concluded numerous cooperation agreements, including with Neufund, and Switcheo. In addition, the global Samsung Group announced a 2.6 million USD investment in April 2019.

The Bluetooth function, which was initially strongly criticized by the crypto community, can also be considered safe and does not pose a security risk for your Cardano (ADA). As Ledger clarified after the launch of the Nano X, only non-critical data (not the private key and not the recovery seed) is transferred via Bluetooth. Furthermore, a release with the Ledger Nano X is always necessary to send transactions. Thus the Bluetooth can be used without hesitation.

2.Ledger Nano S

The Ledger Nano S is no longer Ledger’s latest model after the Nano X was released. Nevertheless, there are still good reasons for buying the Ledger Nano S. First of all, the price is half the price of the Ledger Nano X (120 EUR vs. 59 EUR) and makes the Nano S an absolute bargain.

The device is still one of the most secure hardware wallets worldwide. In recent years, for example, there has been no (known) incident in which cryptocurrencies could be stolen by a Ledger Nano S. The Nano S is a new product from the Nano S family. Furthermore, it can store private keys of well over 1,000 different cryptocurrencies via Ledger Live software.

Conclusion: If you live without the new functions of the Nano X, the Nano S is our top recommendation. In our comparison of 8 hardware wallets, the Ledger Nano S offers the best price/performance ratio.

Supported cryptocurrencies
Like the Ledger Nano X, the Nano S supports over 1,100 different cryptocurrencies. However, due to the small memory, a maximum of 5 apps (for cryptocurrencies and other programs) can be installed on the Nano S at the same time. This means that the apps for cryptocurrencies must always be installed and uninstalled (the data / account balances are not lost!) if you manage more than 5 different cryptocurrencies over them. If you don’t mind this (small) effort, the Nano S is the best choice.
The operation of the Ledger Nano S is also very simple and intuitive. This is done via the 2 buttons on the device. Additionally you need the Ledger Live App, which is identical for the Nano S and Nano X.
Transparency & Fees
The Ledger Live Software is open source software whose source code is publicly available. However, the operating system of the Ledger devices is a trade secret.

The fees for a transaction (network fees) are transparently listed in the Ledger Live Software. Ledger himself doesn’t charge.

Ledger’s technology is industry-leading. This is not only used by Ledger hardware wallets, but also by companies to securely store private keys of cryptocurrencies.

3.Trezor Model T

Just like Ledger, SatoshiLabs has completely redesigned its long-standing success model, the Trezor One, and presented the Trezor Model T in May 2019. Among other things, the new model supports significantly more cryptocurrencies than the Trezor One.

For this purpose SatoshiLabs has developed the new Trezor Bridge Software (not available for the Trezor One), which makes Cardano (ADA) compatible with the Trezor hardware wallet via the AdaLite Cardano wallet. In addition to the larger number of cryptocurrencies available, Trezor has also added numerous improvements to its hardware wallet:

  • Touchscreen: The Trezor Model T has a touch screen that confirms the transactions on the device.
  • Firmware Upgrade: The firmware, Trezor Core has been completely revised and improved from security aspects.
  • More powerful processor: The new Model T has a faster processor, which makes operation smoother.
  • Card slot for Micro-SD: Added Micro-SD card slot that can be used for data encryption.
  • USB-C Port: The “old” USB port has been replaced by the new industry standard, USB-C.

Conclusion: Due to the somewhat higher price (of around 180 euros), the Trezor Model T only came third in our ranking. From our point of view, the Ledger Nano X performs better than the Trezor Model T in the price/performance comparison. This is because the Nano X is around 60 euros cheaper and even has a few more functions. Ledger offers more native apps, requires less third-party software, and is more intuitive to use.

Supported cryptocurrencies
The Trezor Model T can manage more than 1,000 cryptocurrencies using specific third-party software of individual cryptocurrencies (e.g. AdaLite, MyEtherWallet, Monero GUI Wallet, …). A complete list of all supported cryptocurrencies and the necessary third-party software can be found on the official Trezor website.
The Trezor Model T is very high quality. The touch display works very well and due to the new processor the Model T runs very smoothly. In addition, the new Trezor Bridge software offers numerous new functions that are very easy to use.
Transparency & Fees
The Trezor software and hardware is largely open source and publicly available on GitHub. The code was developed by Trezor with third-party extensibility in mind. There are no additional charges other than the Cardano network charges in addition to the purchase price of the device.
Ledger and Trezor are the best known and most popular manufacturers of hardware wallets worldwide. With the Trezor One, Trezor has launched the first hardware wallet on the market, which was widely used. This gives Trezor the longest experience in the development of hardware wallets, which is also reflected in the quality and security standards of the Trezor Model T

Cardano (ADA) Desktop wallets

Desktop wallets are programs that are installed on your computer to store private keys and send cryptocurrencies. Compared to hardware wallets, they have the advantage that both download and use are completely free of charge. However, they belong to the category of hot wallets. As a result, they have the disadvantage that the private keys are not stored offline, but come into contact with the Internet.

Storing the private keys on your own computer is a great responsibility, as the PC must always be supplied with updates and (good) anti-virus software must be installed. If the protection is not sufficient, there is a risk that the wallet will become vulnerable to hacker attacks. However, if the computer is adequately protected, desktop wallets offer significantly better protection than online and web wallets. Besides mobile wallets, they are therefore the best option if you are looking for a free wallet for Cardano (ADA).

Below we have created a ranking for the best Cardano (ADA) Desktop Wallets in 2019. But first we’ll show you the advantages and disadvantages of using a desktop wallet:

The advantages of Cardano desktop wallets:
✅ Storage of private keys on your own Computer
✅ High safety standard
✅ No acquisition costs – use is free of charge
✅ Multi-join wallets partly support over 300 different cryptocurrencies
✅ Regular updates
The disadvantages of Cardano desktop wallets:
❌ Less security than using a hardware wallet (more vulnerable to hacker attacks)
❌ Responsibility to protect your own PC
❌ Be careful when choosing an unknown wallet: There are known cases of fraud.

Below you will find our top recommendations for a safe and serious Cardano Desktop Wallet:

The best Cardano Desktop wallets
  1. Dadalus wallet(Windows, Mac, Linux)
  2. Atomic wallet(Windows, Mac, Ubuntu, Debian and Fedora)

1.Daedalus Wallet

Daedalus wallet ADA

The Daedalus is the official wallet for ADA, which was developed by the Cardano Foundation. It is a hierarchically deterministic (HD) wallet which is considered serious and safe. The wallet is developed as open source software and is therefore completely transparent. Furthermore, the private keys are stored exclusively on the user’s computer.

Thus, Daedalus users retain full control over their private keys, which are protected by advanced cryptography. Since this is a HD Wallet, a new wallet address is created for each new transaction. This significantly improves anonymity, as it makes it very difficult for third parties to determine how much ADA the user or a wallet has.

It is good to know that the Daedalus wallet is a Full Node wallet (no specific, powerful hardware is required). This is important to know because the Daedalus may take a few hours to synchronize the whole blockchain (about 6 GB) with your Daedalus Wallet during the first installation. For most users with a fast Internet connection and a relatively new device, full synchronization should take about an hour. Apart from that, the installation and operation of the wallet is very simple.

In addition, the Daedalus wallet has several other functions that are very useful and ensure an even higher level of safety:

  • Export of the private key to a paper wallet
  • Staking: ADA holders can participate in the block generation process via the Daedalus wallet and earn more ADA as a result.

The Daedalus wallet is available for Windows, Linux and MacOS and can be downloaded from the official website. A mobile version for iOS and Android is planned. However, a date for publication has not yet been set.

Supported cryptocurrencies
The Daedalus wallet only supports Cardano (ADA).
Both the installation and the operation of the wallet are very easy and fast. The wallet is therefore also ideal for beginners.
Transparency & Fees

The source code of the wallet is open source and is continuously developed by the Cardano Foundation.

The use of Daedalus is completely free of charge. Only the Cardano network fees apply when a transaction is sent.

The Daedalus wallet has a very good security. The private keys are stored on the user’s computer so that no one else has access to the cryptocurrencies. Users can also create a backup phrase to restore the Wallet.

2.Atomic wallet

Atomic Wallet

The Atomic wallet is a multi-coin-wallet , which from our point of view is always highly recommended if you want to manage numerous different cryptocurrencies on a single wallet. With over 300 cryptocurrencies, the Atomic Wallet is one of the most comprehensive multi-coin wallets on the market and some of the few that support Cardano (ADA).

But this is not the only reason why the Desktop Wallet, which was only released in 2017, has become so popular. The Atomic wallet is also endorsed by the CEO and co-founder of the popular crypto exchange platform, Konstantin Gladych. In addition, the wallet focuses on three central demands of the crypto industry:

  • Security,
  • Anonymity and
  • Decentralization.

In accordance with these guiding principles, both the private keys and the transaction data are stored in encrypted form on the users’ computers. This means that neither the developers nor other third parties have access to this important data. A very useful function that meets the demand for decentralization is the Atomic Swap function, from which the wallet gets its name.

Atomic Swaps allow the user to exchange cryptocurrencies directly with other users, peer-to-peer. Since the function has not yet been developed for all coins, the wallet has also integrated the exchange services of Changelly and ShapeShift.

Considering the functional scope and the high security level, the Atomic wallet is our top recommendation among the Multi-Coin wallets. To download the Atomic Wallet, you must visit the official website (click here!). There you can find the wallet for Windows, Mac, Ubuntu, Debian and Fedora. In addition, the mobile versions for iOS and Android are available in the respective App Stores.

Supported cryptocurrencies
The Atomic wallet supports over 300 cryptocurrencies, including pretty much all known cryptocurrencies and all ERC20 tokens.
The installation of the wallet is done with a few clicks. At least as easy to use is the user interface, which should be self-explanatory even for absolute beginners.
Transparency & Fees
The Atomic wallet is a community-based product that uses open source libraries, block explorers, and other components. However, in order to ensure the security of the Wallet, part of the source code is not publicly accessible.

When using the Atomic wallet there are no additional fees in addition to the network fees. However, additional services such as Atomic Swaps, ShapeShift and Changelly will be charged.

The Atomic wallet offers very good security. The wallet – as a decentralized solution – does not request any personal data from its users. In addition, all data is transmitted in encrypted form. The control of the private keys lies exclusively with the user, so that nobody else has access to your cryptocurrencies. Furthermore, a backup phrase can be created for the recovery case.
Summary: Cardano Desktop wallets
Desktop wallets for Cardano offer a good level of security, but do not come close to the security level of hardware wallets. As a free option, however, they offer the advantage that the private key is stored exclusively on the user’s computer.

The disadvantage is that the private key is connected to the Internet. Therefore, the computer must be protected as best as possible with anti-virus and anti-malware software. If this is considered, desktop wallets offer a very good level of security.

Mobile Cardano wallets for iOS and Android

Mobile wallets have the essential advantage that they can be installed on (almost) any smartphone. So you can make transactions on the go and are not tied to your stationary PC. Apart from this feature, mobile wallets are very similar to desktop wallets.

The most obvious common feature is that the private keys are stored on the user’s device, the smartphone, instead of the computer. However, like computers, smartphones are (presumably) permanently connected to the Internet, potentially putting private keys at risk.

The security problem with smartphones is even more serious, as many smartphone users use public hotspots, such as cafés and restaurants. These are, however, public networks in which the data is transmitted completely unencrypted, without any security measures of their own. Therefore it is all the more important to protect the smartphone as best as possible and, if necessary, to use a program for data encryption.

The following overview provides an overview of the advantages and disadvantages of mobile wallets:

The advantages of mobile Cardano wallets are:
✅ Access to Cardano (ADA) via Smartphone
✅ Access to the wallet from anywhere where there is an Internet connection
✅ No acquisition costs – use is free of charge
✅ More cryptocurrencies than just Cardano are often supported.
✅ The user interface is often very simple and intuitive.
The disadvantages are as follows:
Less security than a hardware wallet
❌ No deposit insurance, as offered e.g. by eToro Wallet
❌ Vulnerable to hacker or phishing attacks
The best Cardano wallets for iOS and Android
  1. Infinito wallet (iOS and Android)
  2. Atomic wallet (iOS and Android)

1.Infinito wallet

Infinito Wallet Cardano

As there is no official ADA wallet developed by the Cardano Foundation, users have to use Multi-Coin wallets that support ADA. Therefore the Infinito wallet is our top recommendation. The Infinito is a Multi-Coin-Wallet, which is only available as Smartphone version for iOS and Android. It is being developed by the Infinity Blockchain Group, a company headquartered in Singapore, and was not released until 2017. Nevertheless, it already has over one million users worldwide.

The wallet is a hierarchically deterministic (HD) Wallet, which attaches great importance to the security and user friendliness. A password, touch ID and passphrase are available to protect the wallet.

In addition, the private keys are not stored on centralized servers, but directly on the user’s smartphone. With each new transaction, a new address is also created, which is linked to the “original address” (= HD-Wallet). Another plus point from a security point of view is that the Infinito wallet was audited by the IT security company Smart Dec.

In addition to the very good safety standards, the wallet offers many additional functions which make the wallet the best mobile Cardano Wallet:

  • Touch ID: Optionally, the Touch ID can be used to unlock the account.
  • Contact management: Frequently used crypto addresses can be stored in a list, a kind of contact management.
  • Support for multiple languages: English, French, Russian, Korean, Vietnamese, Chinese and Japanese.
  • QR code scanner: Addresses can be imported very easily using the QR scanner.
  • dApp browser. The dApp browser, named App Square, is designed to make it easier for users not only to keep their cryptocurrencies, but also to use them in decentralized applications (dApps) from Ethereum, NEO, Ontology, EOS and the Binance Chain.
  • Optimization of transaction speed: Economy, Regular or Premium
  • Import and export of private keys: Any private key of all supported cryptocurrencies can be imported and exported.
  • Crypto credit function: Cryptocurrencies can be loaned via the “Crypto Lending” function in order to earn passive income.
  • Export transaction history: Display and export your own transaction history, filtered by date and cryptocurrency.

Beside these numerous functions there is only one point of criticism! The Infinito wallet does not offer 2-factor authentication.

Supported cryptocurrencies
Bitcoin, Ethereum, Stellar, Ethereum Classic, Bitcoin Cash, EOS, Litecoin, Cardano, DASH, NEO, DOGE, Ontology, Binance Coin, TomoChain, as well as all ERC20 Token, ETC Token, EOS Tokens, NEP-5 Token und BEP-2 Token.
The wallet is suitable for beginners as well as for advanced users.
Transparency & Fees
The Infinito wallet is open source and therefore offers complete transparency.

Both the download from the App Store or Google Play Store, as well as the use are completely free of charge. As with all wallets, only the transaction fees of the Cardano Blockchain are charged. Users can choose the transaction fees from three categories – Economy, Regular and Premium.

The security of the wallet is good. The only drawback is the missing option for 2-factor authentication.

2.Atomic wallet

Atomic Wallet

The mobile version of the Atomic wallet is a very similar version to the desktop version. Accordingly, it also offers the same advantages, which we would like to briefly summarize at this point:

  • Management of over 300 different cryptocurrencies
  • Storage and encryption of private keys and transaction data on your smartphone
  • Atomic Swaps
  • Use of Changelly and ShapeShift exchange services

You can either download the wallet from the official website. In addition there are the iOS and Android versions in the respective App Store.

Supported cryptocurrencies
With the Atomic wallet you can store the private keys of over 300 cryptocurrencies and all ERC20 tokens.
The installation of the wallet works like a normal installation of a smartphone app. No personal data is requested during setup. The operation of the wallet is very simple, so that it is also suitable for absolute beginners.
Transparency & Fees
The Atomic wallet is a community-based product that uses open source libraries. However, in order to ensure the security of the Wallet, part of the source code will be kept secret.

There are no fees for the use of the wallet other than the usual network fees. For the additional features (Atomic Swaps, Changelly and ShapeShift) you have to pay variable fees.

The Atomic wallet offers very good security. The wallet – as a decentralized solution – does not request any personal data from its users. In addition, all data is transmitted in encrypted form. The control of the private keys lies exclusively with the user, so that nobody else has access to your cryptocurrencies. In addition, each user can create a backup phrase to restore the Wallet.
Summary: Cardano wallets for iOS and Android
Mobile wallets offer a good basic protection which is lower than hardware wallets but higher than Online wallets. The advantage over the latter is that the private key is stored on the user’s smartphone. However, this brings with it a certain responsibility, as the user has to protect the private key himself

Cardano online wallets

Cardano Online wallets offer the easiest way to manage Cardano online without having to install a wallet. Online wallets only require registration and login. This is also one of the main reasons why online wallets are so popular, although they generally offer the lowest level of security.

This is especially true for wallets on cryptocurrency exchanges, which offer the advantage that the user does not have to worry about anything other than sending them. However, users transfer ownership of the private key and thus of the cryptocurrency to the trading platform.

Since exchanges are a popular target for hackers, the user of the platform must fully trust that the cryptocurrencies are securely stored and protected. On the other hand, there are Cardano specific wallets. The AdaLite wallet should be mentioned first and foremost here.

Below we have compiled an overview of the advantages and disadvantages of online wallets:

The advantages of Cardano Online wallets:
✅ Access from anywhere in the world where an Internet connection exists
✅ Exchange wallets enable trading out of the Wallet
✅ In the case of exchange wallets, there is no installation work required.
✅ You can define limits for maximum payouts per transaction.
✅ The user interface is often very simple and intuitive.
✅ Often very good customer support
The disadvantages of Cardano Online wallets:
❌ Lower security standard than hardware, desktop and smartphone wallets
❌ The management of the private keys is (often) transferred to a third party.
❌ Greater likelihood of hacking or phishing attacks
❌ Some web wallet vendors have turned out to be SCAM in the past.
The best Cardano online wallets
  1. AdaLite wallet
  2. Binance
  3. eToro

1.AdaLite wallet

AdaLite Wallet Cardano

AdaLite, formerly known as CardanoLite, is a web wallet developed by Vaccumlabs. It can be seen as a counterpart to the popular MyEtherWallet, a very popular web-based wallet for Ethereum. Like the MEW, the wallet works with any browser and operating system without having to download anything.

The creation of the wallet works very fast. When you create a new wallet with AdaLite, the wallet generates a 12 word mnemonic phrase that is your key to the wallet. Furthermore you have the choice to initialize the wallet via hardware wallet or key file. The private key of the AdaLite wallet is stored exclusively on the user’s computer, especially in the web browser. The AdaLite wallet is also compatible with the Trezor Model T, the Ledger Nano S and Nano X.

One disadvantage of AdaLite is that it is limited to 10 predefined addresses, which means that it does not work with imported data from Daedalus. Failure to comply with this notice may result in 0 balances being displayed on AdaLite as the developers write. The second disadvantage of the AdaLite wallet is that it does not support Cardano Staking.

If you want to use the AdaLite Wallet, you can follow this link.

Supported cryptocurrencies
Only Cardano (ADA).
The creation and operation of the wallet is very uncomplicated. This makes AdaLite ideal even for beginners.
Transparency & Fees
The source code of the AdaLite wallet is open source and publicly available to everyone on GitHub.

There are no additional charges for using the AdaLite wallet other than the Cardano Blockchain fees for a transaction.

Due to its features as a web wallet, the AdaLite wallet as a standalone solution offers significantly less protection than hardware, as well as desktop and mobile wallets. On the official website the developers of the wallet themselves point out that the mnemonic phrase is not the most secure access method. It is highly recommended to use a hardware wallet for improved security.

2.Binance wallet


The storage of Cardano (ADA) on Binance is only a good option if you intend to trade on the trading platform. Over 150 cryptocurrencies are available for trading on one of the world’s largest (adjusted trading volume) and most popular cryptocurrency exchanges. Cardano is one of those cryptocurrencies traded against Bitcoin, Ethereum, Binance Coin and Tether.

Since it is a stock exchange wallet, you have to be aware of the disadvantages. Firstly, Binance is in possession of your private keys, so you must rely on sufficient protection from Binance. Secondly, Binance is a popular target for hacking attacks. Just how dangerous this combination is has been demonstrated by the numerous hacks of cryptocurrency exchanges in recent years.

Even Binance experienced a hack in May 2019 in which 7,000 BTC were stolen due to a security hole in the Binance API. Binance strengthened and improved the security measures immediately after the hack. Nevertheless, the hack clearly shows the vulnerability of exchange wallets. Our recommendation is therefore: Use the Binance wallet only as long as you trade in cryptocurrencies!

If you would like to set up a Binance account, you can do so via this link*.

Supported cryptocurrencies
Binance offers a wallet for each of the 150 cryptocurrencies offered for trading.
Due to the multitude of functions and options, the operation of the Binance user interface can be somewhat difficult for beginners. In our Binance review we therefore explain in detail how you can use Binance correctly.
Transparency & Fees
Use of the Binance wallet is free of charge. Trading fees are charged, as you can read in our Binance Review.
Binance is considered one of the safest exchanges in the world. However, you should only keep your Cardano on the exchange as long as you are actively trading. hardware as well as desktop and mobile wallet offer better protection.

3.eToro wallet

eToro Wallet and Exchange

Our second choice is eToro, which, however, only appeals to residents outside of the US and UK (as of 01/2021). eToro is one of the largest CFD providers in the world and offers various cryptocurrencies in “physical form” as well as CFD (outside of the two aforementioned regions). Due to its high security standards and reputation, eToro can be a good option for custody in our view.

For more information, you can read our eToro review. If you want to sign up for the wallet, you can use this link (click here*) to create an account with eToro.

**68% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

Cryptoasset investing is unregulated in some EU countries and the UK. No consumer protection. Your capital is at risk.

Supported cryptocurrencies
15 cryptocurrencies: Bitcoin (BTC), Bitcoin Cash (BCH), Binance Coin (BNB), Cardano (ADA), Dash (DASH), EOS (EOS), Ethereum (ETH), Ethereum Classic (ETC), MIOTA (IOTA), NEO (NEO), Ripple (XRP), Stellar Lumens (XLM), Cardano (ADA), ZCash (ZEC),
For beginners as well as advanced traders eToro offers a very clear and intuitive trading platform, with numerous advanced trading options.
Transparency & Fees
As described above, eToro charges fees. These can add up, especially when holding for a longer period of time. You can read in detail in our eToro review when they occur and how high they are.

In the following we have summarized the most important aspects of the use of web wallets:

Online wallets can be divided into two subtypes: Exchange wallets and Cardano specific developments. From our point of view, exchange wallets are only recommendable as long as you want to trade on the trading platform. They have the disadvantage that you’re not in possession of the private keys. Moreover, exchanges such as Binance are popular targets of hacker attacks.

The AdaLite wallet has the great advantage that the private key is stored on your computer. Nevertheless, it does not offer the same protection as desktop and mobile wallets or even hardware wallets. Because of this you should not keep your ADA permanently on online wallets.

Further important information about the Cardano wallet test

Finally, we would like to give you a hint: We have compiled the information in this article to the best of our consciences and from our own experience and that of active traders.

Despite all efforts on our part, you should seek further information and opinions. In the best case you should just install some wallets yourself and try them out. Find out which wallet is the best choice for you.

If you have a question or a suggestion for improvement, please leave us a comment. We are happy to help you and are open for constructive criticism! We would also appreciate a positive review if you liked our contribution to the best Cardano wallets!

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This article is provided for informational purposes only and is not intended as investment advice. The content does not constitute a recommendation to buy, sell, or hold any securities or financial instruments. Readers should conduct their own research and consult with financial advisors before making investment decisions. The information presented may not be current and could become outdated.

Jake Simmons was the former founder and managing partner at CNF. He has been a crypto enthusiast since 2016, and since hearing about Bitcoin and blockchain technology, he has been involved with the subject every day. Prior to Crypto News Flash, Jake studied computer science and worked for 2 years for a startup in the blockchain sector. Business Email: Phone: +49 160 92211628

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