Tezos is a blockchain whose essence is to simplify formal verification, using a method that mathematically confirms the accuracy of the code and manages transactions. The Tezos blockchain has its own cryptocurrency called Tezos (XTZ), a cryptocurrency with two main features - a self-governance system and the ability to form launch contracts using its own programming language - Michelson.
If you decide to convert your fiat holdings to Tezos or exchange other cryptocurrencies for XTZ, you will need a secure crypto wallet for storage. In this article, we will look at the most popular Tezos wallets to help you choose the right one.
Web Wallets Tezos (XTZ)
Web wallets can be an easy way to start investing in cryptocurrency. All web wallets can be used directly from the browser without the need to download software. Additionally, many web wallets offer free mobile apps.
TezBox Wallet
TezBoxwas the first GUI released for Tezos. The wallet was developed by the Tezos community and released during the ICO period. TezBox is available for web, desktop and mobile wallets. Users can be confident that all private keys will be stored securely on their devices thanks to the secure wallet interface. TexBox is the first wallet to integrate with the Trezor and Ledger Nano S hardware wallets, providing enhanced security.
Magnum wallet
Although Magnum is a multi-asset wallet, one of the most famous assets that it supports is Tezos (XTZ). Being a lightweight wallet, there is no need to download the full blockchain of any of the cryptocurrencies it works with. The wallet does not store users' personal information. Since Magnum is a web wallet, it has the added benefit of being available for almost any platform and easily accessed from any device using an internet browser. Magnum Wallet also supports Ledger devices (detailed wallet review) so they can be easily linked to the app.
Mobile wallets Tezos (XTZ)
Mobile wallets are used on your smartphone through an application. Similar to Apple or Google Pay, you can use mobile wallets when making purchases in brick-and-mortar stores as cryptocurrencies become increasingly popular. Mobile wallets can be more secure than online wallets and are also more mobile.
Trust Wallet
Trust is a wallet for ERC20 tokens, adapted for mobile devices. It offers simple installation and an accessible set of functions that does not require additional skills and abilities from the user. Trust Wallet and Binance are working on new features including market monitoring, custom networks, test networks, and deep integration with Binance infrastructure. Trust Wallet already supports Tezos as well as other digital currencies.
AirGap Wallet
AirGap is a wallet that allows you to safely store cryptocurrency on your mobile phone. AirGap is a dual-device system: you can use your old mobile device as a hardware wallet using the AirGap Vault app to store your private key; In this case, the wallet itself will be on your work smartphone. The connection occurs via QR codes, providing a true one-way connection between AirGap Wallet and AirGap Vault. This means that no personal information ever leaves the phone. In addition to Tezos, AirGap supports a large number of cryptocurrencies.
Tezos.Blue
Despite the fact that the wallet is Tezos.Blue is lightweight and doesn't skimp on security or features. This is an original application, so it receives reliable protection directly from the operating system. Using Tezos.Blue, you will receive the latest updates from the network for a truly comfortable real-time experience. Tezos.Blue is also available in a desktop version.
Desktop wallets Tezos (XTZ)
The desktop wallet can be downloaded and installed on your computer. They may be safer if your computer is not connected or, preferably, has never used an Internet connection. Desktop wallets are ideal for storing large amounts of cryptocurrency that you don't want to use every day.
Atomic Wallet
Atomic is a convenient, easy-to-use and secure cryptocurrency wallet, preferred by many users around the world. It is a decentralized multi-currency wallet that supports over 500 cryptocurrencies, including Tezos. The main goal of Atomic Wallet is not just to store cryptocurrency, but also to create a powerful ecosystem with many functions.
Atomex HD Tezos Wallet
HD wallets (hierarchical deterministic wallet) are wallets that use a single 12 or 18 word mnemonic phrase that used to identify the following addresses and private keys in the wallet software. Atomex is HD- A wallet that supports Tezos and combines the benefits of decentralized and centralized exchanges. With Atomex, all private keys are stored encrypted on your computer. No identity verification or registration is required to use the wallet.
Simplestaking
Simplestaking is a Tezos-focused wallet that is a web and desktop application with support for the Trezor Model T hardware wallet. The wallet is designed using NgRx state management and Angular framework.
Galleon Tezos (Tezori) Wallet
Tezos CLI Wallet
The Tezos CLI walletcan be used by those users who have some understanding of coding, although it requires using the command line. Tezos has mentioned the wallet on its website and has been verified by an independent external security inspector. Because the Tezos command line interface requires some level of command line knowledge, it can be quite complex to use.
Hardware wallets Tezos (XTZ)
Hardware wallets are not susceptible to spam, viruses, phishing attacks or malware. Moreover, they provide a high degree of protection for private keys. Below is a list of hardware wallets that can be used for XTZ.
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Nano S is a hardware wallet from the Ledger product line. Like all other Ledger products, the Nano S traditionally looks like a flash drive, but this time you'll need to use the USB cable that comes with the wallet to connect it to your computer. Ledger Nano S has a chip similar to the chips on bank cards or biometric passports. Your private key is stored in an isolated environment and is securely protected. The Ledger Nano S also has a screen where you can see every transaction made. If you lose your Nano S wallet, your account can be easily restored on any other Ledger device. Ledger Nano S supports over 20 cryptocurrencies, including Tezos (XTZ).
Trezor
Trezor T is the flagship model from the famous Czech manufacturer SatoshiLabs. The T model has a color touchscreen display, an SD port and a number of coins supported - XTZ is one of them. User funds are stored on the device out of reach of intruders.
How to secure your wallet
A cryptocurrency wallet can be thought of as a regular money wallet, but it has advanced features that increase the level of risk. These simple rules will help prevent the loss of your own savings:
- Do not store large amounts for a long time in wallets that do not provide full control. Store large amounts for a long time for a long time, it is better only in wallets to which you have access to the private key and, accordingly, control over digital assets. This will help protect your coins from fraud and cyber attacks.
- Information encryption and backup private keys. In the event of a PC reinstallation or force majeure situations, this will help quickly restore access to the wallet.
- Keep the private keys on an offline device. It is preferable to use a platform that cannot be hacked over the Internet.
- Use reliable antivirus software and update it regularly. This will prevent leakage of personal data that hackers can use to crack passwords.
- Register multiple types of wallets. This will allow you to spread out your funds and use the most appropriate wallet depending on the situation.
If you are using your Tezos wallet If you do so wisely and do not neglect precautions, the risk of losing funds will be minimized.
