Some of the top Polkadot wallets to consider

When it comes to the storage of cryptocurrencies, then we need a cryptocurrency exchange and a wallet. Digital wallets are also like your physical wallets where you keep your money safe and secure. The only difference is digital wallets are digital. Just like there are many wallets to name for storing cryptocurrencies including Bitcoin, Ethereum, and Litecoin, you can also search for a wallet for Polkadot. Just browse around Polkadot wallets and you will find multiple options. and more. 

Polkadot wallets allow the storage and management of DOT, known to be the native cryptocurrency of the Polkadot platform. It also lets in the creation of new tokens and smart contracts. But like other cryptocurrencies, its price is also prone to volatility offering great opportunities for savvy traders in getting profit from its movements. The protocol of Polkadot is instigated and regulated by Polkadot’s native crypto DOT. Today in this article, we are going to list down some of the best wallets to store Polkadot coins. But let us have a brief overview about:

Polkadot

Polkadot can be defined as a blockchain platform that also has a native cryptocurrency called DOT. The crafting of this platform was meant to let blockchains exchange messages and perform transactions with each other without depending on any third-party involvement. This also allows cross-chain transfers of assets or data, between different blockchains and also for DApps to be created when using the Polkadot Network. 

The Polkadot network is featured with a primary blockchain called ‘relay chain’ and numerous user-created parallel chains named ‘parachains’. The relay chain performs as the governance layer of the network, whereas, parachains are auctioned letting independent projects create and function their blockchains that exist in the Polkadot infrastructure. The credit for creating the Polkadot protocol goes to Gavin Wood, the co-founder of Ethereum. Over $144.3 million had been raised in its ICO in October 2017.

The Polkadot network applies a PoS (Proof of stake) consensus algorithm. Blind Assignment for Blockchain Extension (BABE) is a protocol used by it. It is derived from Ouroboros. This protocol was adapted by Ethereum co-founder Gavin Wood, whereas Web3 Foundation is behind the development with early execution by Parity Technologies. 

Genesis block

The genesis block is the initial block of Polkadot that came into being two years ago in May. Its native token DOT got released with its launch of it. 

Top Polkadot wallets to consider

And now it’s time to bring the list of best Polkadot wallets for your DOT coins storage. It might get very time-consuming to browse for multiple options. Hence we have come up with some of the best options that would suit your needs. 

Ledger Nano X

Ledger Nano X comes as a non-custodial Polkadot wallet. It is supportive of more than a hundred cryptocurrency applications and coins. It is acquainted with the most comfortable form factors using micro-LCD. Moreover, it provides a balance between security and accessibility. 

It operates well with its native smartphone app, Ledger Live. Adding more advantages to it, this Polkadot wallet also facilitates offline storage of your crypto coin DOT. This saves you from online fraud. Ledger wallets adjust well with Binance, Electrum, Electron Cash, and Ledger Live. It can be linked with Bluetooth and USB-C cable. It comes with extended 8-hour battery life with a Lithium-ion 100mAH battery. 

Ledger Nano X is compatible with more than five thousand coins. These include the major ones – Bitcoin, Polkadot, Avalanche, Dogecoin, Litecoin, and Ethereum. When it comes to high security, then this DOT wallet excels in it. It also provides CC EAL5+ certification. This wallet is compatible with iOS and Android. Two major demerits of Ledger Nano X is it is very expensive and does not provide a touchscreen surface. 

FTX

Coming on to the next is FTX. It is a native wallet to the exchange FTX US and is preferred only by users in America. You can find it on web browsers, Android, and iOs. FTX provides around 190 trading pairs. It is the best Polkadot staking wallet for numerous coins, including its native coin FTT. When there is an increase in your 30-day transactional volume, there is a reduction in the trading fees. Demerits – It contains extra risky investments, like leveraged tokens, and also has shallow trading options. 

Ellipal Titan

Ellipal Titan comes as a cold wallet that lets store funds offline. It provides a built-in display that allows the person to see his transactions and balances without the need for a phone or a computer. It is the best crypto wallet that facilitates in-built exchanges where you can buy and sell cryptocurrencies. It is supportive of major cryptocurrencies – Litecoin, TRON, Bitcoin, Ethereum, and more. There is also a provision for Auto self-destruct that helps store back your factory settings when it gets tampered with. The standby time of this wallet is 259 hours. Ellipal is a hardware wallet that is certified with FIDO. It is compatible with Android, Mac, iOS, and Windows OS. Demerit: It does not have ideal customer care support. 

Ending note

Find out how to buy Polkadot online or visit Cryptoknowmics, a one-stop solution for all crypto-based queries

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