If you regularly use Ethereum Blockchain Applications, you might have noticed that the transactions are quite expensive and slow to get validated.
Hence layer two solutions have come into existence like Matic or Polygon, which aims to provide more scalable and cheaper transactions to users.
Such a protocol is developed on the top of the Ethereum Chain that uses a Consensus algorithm like Proof of Stake.
What Is Matic?
The whole polygon or Matic protocol runs through a crypto token called Matic Token.
There are 10 billion Matic tokens that can be bought by any community member or regular crypto user.
Users can buy this for investing or be part of validators that validates transactions on Matic or Polygon Chain.
To buy a magic token, you need to have a cryptocurrency wallet; hence in another section, you will find some of the best Matic wallets where you can safely store thematic tokens.
10 Best MATIC Wallets To Store Your Polygon (Matic) Coins
Most cryptocurrency experts recommend using hardware wallets because they are quite convenient and safer for storing cryptocurrencies.
The hardware wallet has many features, such as storing different private keys.
As per the technical surveys, hardware wallets are less likely to get hacked when compared with mobile or desktop wallets.
Hence, here you will find the ten best Matic wallets (Polygon wallets) to store Matic tokens.
This is one of the best Matic wallets where you can store your cryptocurrency without any Tensions. Atomic wallet is a cryptocurrency wallet that comes with inbuilt atomic exchange services. It helps you manage cryptocurrencies like Ethereum, bitcoin, Matic, and 300 more. Some of the best features are :
✔ A secure crypto wallet that comes with an easy-to-use interface.
✔ Allows you to control your funds
✔ Good support services through email or chat.
✔ Allows you to buy all the cryptocurrencies available.
✔ Offers instant exchange with rewards
Metamask wallet is available as a browser extension. It is a multichain wallet that is compatible with all the blockchains.
You need to put network details for the wallet settings to buy or sell tokens on different chains.
A lot of decentralized applications integrated Metamask wallets to access tokens easily. You can also download this wallet on your mobile device or desktop applications.
Some of the features are :
✔ It is an open-source wallet
✔ Private keys are stored on users’ browser
✔ Easy to use Interface
✔ Integration with Ledger wallet.
Myetherwallet is an open-source and free wallet to interact with any EVM compatible chain. You can easily use and generate wallets on different chains.
If you are into Staking, then this wallet also offers multiple staking programs to stake some tokens and earn rewards.
Some of the features are :
✔ Allows you to access any Ethereum based blockchain where you can use many features.
✔ It has partnered with some of the best protocols like Kyber Network, Changelly, and Bity that provides an easy-to-use Interface to swap fiat currencies for any crypto token.
✔ It offers support to several hardware wallets like Trezor and Ledger.
✔ MEW wallet is a hardware version of My Ether wallet that makes cryptocurrency storage more secure.
Trust wallet is the multichain cryptocurrency wallet that allows users to store token standards, ERC20(Ethereum network-based tokens), BEP20 (Binance Chain based tokens), and ERC721(NFT tokens).
Also, you can use this to buy cryptocurrencies directly from your credit or debit card.
Some of the features are :
✔ One-stop solution for storing Crypto and NFTs in one place.
✔ Inbuilt Decentralized and Centralized Exchanges to buy crypto tokens.
✔ Available as both mobile and desktop Applications.
✔ Staking opportunities available to earn interest through your tokens available in the wallet.
Trezor is one of the best Matic wallets when it comes to hardware wallets. It offers cold storage facilities for tokens like Bitcoin, Ethereum, and different ERC20 tokens.
Trezor wallets are supported by all the devices such as Windows computers, mac books, Linux devices, Android, and IOS devices.
Some of the features are as follows :
✔ Easy to use without any risk. Since it is a cold storage device, it isn’t easy to access your cryptocurrencies.
✔ It is quite secure and hard to attack with any keyloggers or viruses.
✔ It supports account security using U2F, where a user gets a token to authenticate transactions.
✔ It comes with a Recovery seed card to store your seed safely.
Unlike other cryptocurrency wallets, Exodus offers multiple services such as portfolio tracking, Staking, and many more.
Exodus was launched in 2015 and was approved by the SEC, also known as the U.S Securities and Exchange Commission.
You can use it on multiple iOS, Android, Mobile, Linux, Windows, Mac, or desktop devices.
Some of the features are following :
✔ It charges fees based on the network and network congestion.
✔ Currently, it has listed more than 100 transactions.
✔ Users store their cryptocurrencies rather than Exodus.
✔ It supports P2P trading of unlimited amounts from any device.
The alpha wallet is a noncustodial wallet that is a completely open-source wallet. It is mostly used by web3 or crypto Engineers who want to deploy their tokens and launch MVP without considering many technicalities.
It is built for the community by web3 Engineers.
Some of the features are following :
✔ It supports all the Ethereum chains and tokens like ERC721 and ERC20
✔ ENS domains can be integrated to renew or view them.
✔ Available for multiple devices like Android and iOS
✔ Quite secure and offer cross-platform Integration.
Ledger Nano X
The Ledger Nano X is a hardware wallet perfect for hardcore investors and traders.
This best Matic wallet allows users to trade cryptocurrencies and Manage NFTs using this Bluetooth technology-enabled wallet. Users can store any digital asset in such a wallet.
Some of the features are as follow:
✔ Easy to Manage and buy cryptocurrencies from anywhere in the world.
✔ COmes with Advanced technologies like Bluetooth and LED Display.
✔ Keep your tokens, and NFTs protected and offline.
✔ A huge capacity wallet allows users to install many apps to store cryptocurrencies.
SafePal is a user-friendly and secure wallet to store cryptocurrencies. Companies like Binance have invested in SafePal wallets.
It supports various cryptocurrencies such as BNB, LTC, ETH, BTC, etc. It comes with several layers of security with an easy-to-use interface.
Some of the features are following :
✔ It uses complex algorithms such as random number generators, cryptography, self-destruct mechanisms, and security sensors.
✔ A Cypher Board for seed protection.
✔ A mobile application to buy tokens and access defi applications.
✔ Offers native token SFP airdrops for people who own SafePal S1 hardware wallet.
Mathwallet is a multichain wallet that supports many EVM and Non-EVM blockchains.
Users can store all the tokens like Ethereum and Altcoins and access them on various devices like mobile or desktop. Also, it is available as a hardware wallet.
Some of the features are as follow :
✔ Cross-chain Integration, you can use on various chains and access Dapps.
✔ In-App facility to transfer tokens.
✔ Easy to Stake tokens
✔ Manage portfolio and track your rewards
How Do I Get a Matic Network Token Address?
The Matic Network token is deployed on multiple chains such as Ethereum Chain and Binance Smart Chain and is available as a native token on Matic Network.
For every Blockchain, Matic token is deployed on a different Address.
To get the Address of the Matic Token, you can follow the following steps.
Step 1: Go to any block explorer like Polygon Scan, BSc scan, or Etherscan.
Step 2: Search for the Matic Token in the Search Bar
Step 3: Copy the Address once Matic token Page is loaded
Step 4: Setup the Network in your wallet and add a Matic token Address.
Here is the list of Matic token Addresses at Different Chains for your reference.
Etherscan : 0x7d1afa7b718fb893db30a3abc0cfc608aacfebb0
Bsc Scan : 0xcc42724c6683b7e57334c4e856f4c9965ed682bd
Polygon Scan : 0x0000000000000000000000000000000000001010
If you want to buy Matic tokens on centralized exchanges, you don’t need the token address; you can buy it and get it into your exchange wallet.
But if you want to buy from a decentralized exchange, it is quite necessary to get the Matic token address to buy the right token.
Most blockchains have allowed such tokens, so it is easy to find them by checking the verified sign.
Are All Polygon Matic Wallets Secure?
Yes, All Matic wallets are secure, but there is some difference between the hardware wallets and the software wallets.
Hardware wallets are considered more secure when compared with software wallets because they are not connected to any network.
At the same time, software wallets are prone to some attacks.
However, they cannot be attacked directly; if your system is where you have downloaded the wallet or using an inside browser, there are possibilities of a phishing attack, where users might be asked for certain things that will share your software wallet seed phrase or private key with the attacker.
The security depends on the user and how safe it keeps the seed phrase and private key.
Do I Need A Polygon Wallet To Buy Or Trade MATIC?
Matic is an ERC20 token that is deployed on several Blockchains. ERC20 tokens are Ethereum based tokens.
If you want to Trade or Buy Matic tokens, you can choose any wallets that support the ERC20 token activities.
Based on The network where you would like to buy tokens, you need to set it up in your wallet configuration.
For example, If you want to buy a Matic token using the Metamask wallet, you need to Add a Network such as Ethereum Chain or Polygon Chain.
Once you have added a network, you can buy Matic tokens to any decentralized exchange and buy Matic tokens.
If you use any centralized exchange such as a coin base, they have an inbuilt wallet. You do not need to get a wallet to buy MATIC tokens.
You can fill your account with fiat currency and place an order for MATIC token Pair. Once an order is fulfilled, your Matic tokens will be added to your account.
If you want to store your tokens in a different wallet, you need to transfer that to your wallet account.
How Does A Polygon Matic Wallet Work?
There are two types of Matic wallets available on the higher level: hardware and software wallets.
They work in completely different ways but work for the same motive to keep your cryptocurrency secure.
Matic Wallet does not store your cryptocurrency but rather a private key. Both of these keys are necessary to do cryptocurrency transactions.
Public Keys and Private keys
Public keys are similar to your bank account number. It is a long string that is generated using random numbers. It allows you to receive cryptocurrencies like MATIC tokens from different public keys.
Private keys are similar to passwords that should always be kept private.
It gives you the ownership of the cryptocurrency and the ability to sell, buy or trade them.
If you share your private key with anyone, you give access to your crypto tokens which can get stolen or compromised.
Hence it is always recommended to keep your private key secure.
How To Deposit And Withdraw From Polygon Matic Wallets?
Depositing and withdrawing tokens from the Matic Wallets has become quite easy. You need to set up your wallet by backing the seed phrase.
A seed phrase is a collection of random words that allows you to access your private and public keys.
To Deposit and withdraw tokens on Matic wallets like Metamask, you need to follow some steps.
Step 1: Choose a network based on the sender’s network trying to send you some tokens.
Step 2: Once you have set up the network, Add the token to the list of tokens.
Step 3: based on Choices available, click on the Deposit or receive Button.
Step 4: Copy the Address loaded on the window or scan the QR code from the sender’s App.
Step 5: Confirm transaction from sender’s App to receive a token.
To Withdraw tokens, you can click on the withdraw Button, Add the recipient address, and set up the network you want to send tokens to.
Paste the address and confirm the transaction to send tokens. Every wallet has its mechanism for activities like the Deposit and withdrawal of tokens.
You can visit the respective wallet website for a more detailed guide to know the steps.
Points To Consider While Choosing a Matic Wallet.
It is the most important factor to choose the best Magic wallet.
Based on the company’s reputation, you can know the company storing your private keys is secure or insured.
Knowing founders’ and companies’ portfolios is better to find their rating among the crypto users.
Quite a few incidents have happened where the owner of the company ran away with all the funds.
Many of the best Polygon wallets are open source wallets; their source code is available online, so even if there is an issue, people can report that, and based on that, changes are made.
Since wallet deals with Real Money, it is quite necessary to use the correct wallet that uses secure technologies to save your private keys.
There might be a possibility that you lose your wallet or the device where you have installed the wallet.
Hence you should check if the wallet company can backup your wallet seed phrase or private keys. If you lose your wallet, you won’t access it.
If you are a hardcore trader or investor, you might be investing or trading many cryptocurrencies.
Check if the wallet you want to use supports all the cryptocurrencies you want to trade or invest in.
Most hardware wallets require users to include specific tokens that are not there in the list.
QR Code scanner
For mobile wallets, QR code is quite a good feature. It helps you easily deposit or withdraw tokens without any need to share your public keys.
It will prevent errors while typing private keys or sharing them through messages.
Final Thoughts On 10 Best MATIC Wallets
All the best Matic wallets are listed in this article, both hardware and software wallets. Based on your requirements, you can choose the Polygon Wallet.
Hardware wallets are the best medium to store your cryptocurrencies, although they are quite expensive.
If you lose your hardware wallet, you also lose your cryptocurrencies.
Whereas Software wallets are easy to backup and recover if you lose your device.
If you invest or trade huge amounts of money, then it is recommended that you choose Hardware Polygon wallet or Matic wallet, whereas if you trade in less amount and don’t want to buy an expensive hardware wallet, you can go for a software wallet.