Top 5 Best IOTA wallet to use in 2024

How to store IOTA?

IOTA should be stored in a way that suits your purpose and keeps your coins safe. Due to the fact that IOTA appeared relatively recently, the choice of wallets suitable for this coin is not as large as if it were Bitcoin or Ethereum. However, even among the existing options, you can find a decent wallet that best meets your expectations. To begin with, let’s remember what types of IOTA wallets are:

• Mobile wallets;
• Desktop wallets;
• Hardware wallets;
• Web (online) wallets.

Mobile Wallets

Mobile wallets are the most convenient, in the sense that you can buy, sell and send your IOTA coins wherever you are. This type of wallet is not as secure as desktop and, of course, hardware wallets. However, the modern security features that mobile crypto apps are endowed with practically do not give hackers a chance to encroach on your digital wealth.

In any case, this option is more suitable if you are going to store a small number of your IOTA coins and you need quick access to your funds.

Desktop Wallets

This option is slightly safer than a mobile one, but at the same time less convenient. Since most of the time your computer is connected to the Internet, it is correspondingly exposed to dangers coming from there.

If you want to use this type of wallet, make sure that your private keys are not stored on someone else’s servers, which means that only you have access to them. Also, provide your PC or laptop with reliable software that will protect it from viruses or other malware.

Also, keep in mind that your device may fail or break down, and if you do not have a backup of your wallet, you will lose all the coins that were stored on it.

Hardware Wallets

The safest place you can choose to store your IOTA is in a hardware wallet. This type of wallet is a physical, tangible device that doesn’t need to be connected to the internet all the time. Such offline storage provides the highest level of safety for your IOTA, and even if the device is lost or stolen, no one except you can access it.

Unlike other types of wallets, an IOTA hardware wallet will cost you some money. Although if you want to store a large amount of cryptocurrencies, then this kind of investment will pay off.

Web (Online) Wallets

The least secure wallet of all is the online wallet, where you can access your coins through an internet browser on any device. Despite all the risk, such wallets are in great demand, as they are the most convenient. They allow you to fast and easily send or receive funds without the need for any programs or devices.

However, these kinds of wallets are best used when dealing with a small amount of crypto that you are ready to lose in the event of a hack.

Now that you know the types of digital wallets that exist, it’s time to choose a wallet compatible with your device. Without a doubt, in our top 5 best IOTA wallets you will find something for yourself:

• IOTA wallet IOS: Nelium;
• IOTA wallet Android: Guarda;
• IOTA Mac wallet: GUI;
• IOTA hardware wallet: Ledger;
• IOTA desktop wallet: FireFly.

IOTA Wallet IOS: Nelium

iPhone owners can turn their attention to the IOTA Nelium Wallet. Even though the wallet is still under development, it already looks promising with a set of very impressive components. The developers promise that utilizing the wallet will be as smooth as possible, so even for a complete beginner in this business, no action related to coins will cause any difficulties.

Among the useful options is QR scanning, which simplifies the transfer of coins.

Nelium Wallet is suitable for iOS and Android, but does not offer a desktop experience.

In terms of security, your private seeds will only be stored on your mobile device and not on Nelium’s servers.

IOTA Wallet Android: Guarda

Fans of Android- based mobile devices will be able to benefit from the Guarda wallet. In addition to IOTA, the wallet supports hundreds of digital assets, and is generally very suitable for you if you plan to actively trade your coins. What’s more, if you want to switch to an iPhone or even a PC, it’s compatible with those devices as well.

The wallet developers have taken care of its protective properties. The security of your coins is ensured by features such as multi-signature transactions, PIN code and 2-factor authentication, and secret keys are stored by the user. There is also a technical support service that immediately stops any suspicious activity on the network.

IOTA MAC Wallet: GUI

The GUI IOTA wallet is a simple solution for storing and sending your IOTA coins.

The wallet has two modes “Full Node” and “Light Node”, which you will be prompted to select during the first setup. This means that this wallet is suitable for both an advanced user and a green hand on their first crypto voyage.

The wallet does not have a mobile version, but works great on PC and laptop running on Windows, MAC and Linux platforms.

In terms of security, that’s fine too, since you’re the only person who has access to your private keys, since you store them yourself.

IOTA Hardware Wallet: Ledger

As mentioned earlier, the safest place and way to store your IOTA is a hardware wallet. Therefore, whichever wallet you choose from this group, you can be sure of its reliability. However, most owners of a large amount of IOTA still prefer the Ledger Nano. Especially considering the fact that both Nano S and Nano X support the coin.

The wallet has many advantages, such as the ability to manage from a mobile device, convenient design, and support for more than 1,100 cryptocurrencies. Against the backdrop of multiple benefits, there is probably only one drawback: the price. But when it comes to the safety of your digital assets, this should not be an issue.

IOTA Desktop Wallet: FireFly

The newly released FireFly wallet, which intends to replace the well-known Trinity wallet, has already managed to please the IOTA crypto owners with its useful features.

For example, the official desktop version of the FireFly 1.3.0 wallet was released with the IOTA coin staking feature. As a reward, network users will receive the Shimmer (SMR) or Assembly (ASMB) cryptocurrency.

It also supports managing multiple accounts and creating profiles. This is very convenient, as multiple users will be able to use the same application securely.

FireFly is truly the wallet of 2022. Since this is a brand new product, it was developed using the latest technologies with advanced security features, which means you can be sure that your coins are safe. In addition, FireFly is Ledger friendly, which means you can connect your hardware wallet to the platform for more convenient and secure management of your tokens.

FAQ

What is the best wallet for IOTA?

Since the key aspect to consider when choosing a wallet is its reliability, it can be concluded that the Ledger wallet is the best option for IOTA. In addition, paired with the new FireFly wallet, managing your coins has become even more convenient.

Is Ledger a secure wallet?

Yes, the Ledger wallet is a hardware wallet, which makes it secure. The security of the wallet is ensured by a chip and a display that displays a seed phrase instead of a PC or laptop screen that can be hacked.

Although the wallet must be connected to the network to transfer coins, even if your computer is hacked, a hacker will not be able to access the hardware device. This makes the theft of coins impossible, since any transaction is confirmed by the buttons on the wallet housing.

Another security feature is the assignment of a one-time address every time you receive funds in your wallet. This increases your privacy greatly.

Can I store IOTA on my PC?

Yes, IOTA can be stored on a PC. To do this, you need to download a desktop wallet that supports IOTA on your device.

Disclaimer: Please keep in mind that the content of this article is not financial or investing advice. The information provided is the author’s opinion only and should not be considered as direct recommendations for trading or investment. Any article reader or website visitor should consider multiple viewpoints and become familiar with all local regulations before cryptocurrency investment. We do not make any warranties about reliability and accuracy of this information.