The Best Cardano Wallet in 2024

Zac McClure
ByZac McClure, MBAReviewed byAlex MilesUpdated on April 8, 2024 · minute read
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  • Our experts recommend Daedalus as the best Cardano wallet overall, with advanced features, robust security, and the ability to participate in ADA staking as the official wallet developed by IOHK.

  • Owning a Cardano wallet empowers you to control your ADA holdings, participate in staking, and engage with decentralized applications on the Cardano blockchain, ensuring security and accessibility for your digital assets.

The best Cardano wallet: Our picks

A Cardano wallet enables you to purchase and trade cryptocurrencies, NFTs, and other digital assets within the Cardano ecosystem. These wallets come in various forms, including desktop, mobile, web-based, and hardware options, catering to diverse user preferences and needs.

Our experts have identified our top picks of the best Cardano wallets available today, which follow. Further on in this article, you’ll find complete reviews of these and all the best Cardano wallets we’ve identified, with pros and cons to help quickly guide you to the right wallet for your goals.

Daedalus

Daedalus

Best Cardano wallet overall

Trezor

Trezor

Best Cardano hardware wallet

Yoroi

Yoroi

Best lightweight wallet for Cardano

What's the best Cardano wallet?

Here are our top picks of the best Cardano wallets available on the market today, with reviews and pros and cons so you can quickly identify the top wallet for your goals and level of experience.

AdaLite

Best Cardano wallet for convenience

AdaLite is a browser-based Cardano wallet that lets users manage their ADA holdings online. It offers simplicity and security and supports hardware wallets like Trezor.

Daedalus

Best Cardano wallet overall

Daedalus is the official wallet for Cardano, which was developed by IOHK. It is a full-node desktop wallet that provides advanced features and robust security. Daedalus is particularly suitable for users who value decentralization and want to contribute to the Cardano network by running a full node.

Eternl

Best Cardano wallet for NFTs

Eternl, formerly CCvault, is a hardware wallet specifically designed for Cardano. It offers cold storage solutions, keeping your ADA offline and safe from online threats.

Exodus

Best Cardano wallet for beginners

Exodus is a multi-cryptocurrency wallet that supports ADA and a wide range of other digital assets. It has an easy-to-use interface and great built-in exchange capabilities, allowing users to trade between different cryptocurrencies easily.

Ledger

Best Cardano wallet for web-based security

Ledger provides a cold wallet solution that provides enhanced security for storing ADA and other cryptocurrencies. Users can minimize the risk of potential hacks by storing ADA in their Ledger wallet. Pair Ledger with a compatible wallet application, such as Yoroi, to stake Cardano securely.

Trezor

Best Cardano hardware wallet

Because Trezor is a hardware wallet, it allows users to store and manage their ADA assets offline. It offers robust security features, including PIN protection and passphrase encryption, ensuring the safety of your funds.

Yoroi

Best lightweight wallet for Cardano

Yoroi is a lightweight, user-friendly wallet designed for the Cardano ecosystem. As a non-custodial wallet, Yoroi ensures security and privacy, operating as a browser extension or mobile app for quick access to your ADA tokens.

What is a Cardano wallet?

A Cardano wallet, similar to an Ethereum or a Solana wallet, allows you to buy and trade crypto, NFTs, and other digital assets on the Cardano blockchain. These wallets are available on different platforms, including desktop, mobile, web-based, and physical hardware.

How do Cardano wallets work?

Cardano wallets generate public and private keys, which lets users interact with the blockchain. Public keys are used to receive ADA, while private keys are used to sign transactions and validate ownership of funds.

Hardware vs. software wallets for Cardano

Hardware wallets like Ledger and Trezor offer offline storage and enhanced security, while software wallets provide greater accessibility for everyday transactions.

Why you need a Cardano wallet

Owning a Cardano wallet empowers you to control your ADA holdings, participate in staking, and engage with decentralized applications on the Cardano blockchain.

Like MetaMask for Ethereum or Phantom for Solana, a Cardano wallet lets you easily access and manage all your assets in the Cardano ecosystem.

What's the best Cardano wallet?

Determining the best Cardano wallet ultimately depends on your individual needs and preferences. Factors such as security features, user-friendliness, staking capabilities, and support for multiple platforms should be considered.

Daedalus and Yoroi are often recommended for their robust features and security, but the best wallet for you will match with your specific requirements. We generally recommend Daedalus.

Best Cardano Wallet FAQs

Here are some of the most frequently asked questions about the best Cardano wallets and the best Cardano wallets for staking. For more about staking, see our Cardano staking guide.

Where is the best place to store Cardano?

The best place to store Cardano is in a secure wallet where you control the private keys. Hardware wallets like Ledger and Trezor offer the highest security by storing your ADA offline. Software wallets like Daedalus and Yoroi are also popular for convenience and easy access.

How many Cardano should I own?

The amount of Cardano (ADA) you should own will depend on your investment goals, tolerance for risk, and financial situation. Only invest what you can afford to lose. Consider starting with a small amount and slowly increasing your holdings as you become more comfortable with the market. Always do your own research before investing in crypto.

Is staking Cardano worth it?

Staking Cardano can be worth it if you want to earn rewards on your ADA holdings. By staking Cardano, you help secure the network and receive rewards. The profitability of staking depends on the current staking rewards rate and the amount of ADA you stake. As with investing, it’s important to understand the risks involved before staking crypto.

What is the alternative to Daedalus wallet?

If you're looking for an alternative to Daedalus, Yoroi is a popular choice for a lightweight, user-friendly software wallet. Other alternatives include hardware wallets like Ledger and Trezor or other software wallets like Exodus and Atomic Wallet.

To stay up to date on the latest, follow TokenTax on Twitter @tokentax.

TokenTax reviews take an unbiased approach to our recommendations. When you use our links to buy products, we may earn a commission but that in no way affects our editorial independence.

Zac McClure
Zac McClureCo-Founder & CEO at TokenTax
Zac co-founded TokenTax after his career in international finance and accounting at JPMorgan, Imprint Capital and Bain. He has worked in more than half-dozen countries and received his MBA from the UPenn Wharton School.
Alex Miles
Reviewed byAlex MilesCo-Founder at TokenTax
Prior to TokenTax, Alex worked as a Product Designer at Dropbox and before that Readmill (acquired by Dropbox). He holds a BS in Digital Information Design - Interactive Media from Winthrop University.

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