The last few years have seen a boom in the crypto world, with millions emptying their pockets to invest in cryptocurrencies in the hope of making it big.
There have been new coins, tokens, improvised ways to make money through crypto, and of course, new regulations to bring decentralized finance to the mainstream.
Amidst all this madness, there is a new phenomenon in the crypto world – the Solana coin.
Perhaps you may have also witnessed the unprecedented rise of SOL cryptocurrency in the past year.
- 1 Why Do We Need SOL Wallets For Solana Tokens?
- 2 What Is Solana?
- 3 10 Best Solana Wallets For Solana Coins
- 4 Solflare Wallet
- 5 Atomic Wallet
- 6 Coin98 Wallet
- 7 Exodus Wallet
- 8 Solong Wallet
- 9 Math Wallet
- 10 Zelcore Wallet
- 11 Ledger Nano X Wallet
- 12 D’cent Biometric Hardware Wallet
- 13 ShiftCrypto BitBox02 Hardware Wallet
- 14 How To Choose A Wallet For Solana Coins?
- 15 How Does A Solana Wallet Work?
- 16 Are All Solana Wallets Secure?
- 17 Tips For Securing Your Solana Wallet?
- 18 Points To Consider When Choosing Solana Wallets?
- 19 Best Solana Wallets – Final Thoughts
Why Do We Need SOL Wallets For Solana Tokens?
Solana token has indeed experienced a meteoric rise and evolution. Conceived and released by developer Anatoly Yakovenko in 2017, SOL crypto quickly rose to the top and now enjoys astounding popularity.
Do you want to ride the wave of the SOL coins phenomenon? You will need an SOL wallet to buy, trade, and store Solana crypto.
Confused about which Wallet is best to store Solana coins? Don’t worry; we have got you covered.
Here we have curated a list of carefully picked best Solana wallets to ease out the selection process for you. So, hop on!
What Is Solana?
We understand that you are in for the best SOL wallets out there, but crypto is a volatile market; therefore, it’s prudent to have all the information about the underlying project and its potential – after all, you are in for a profit.
Solana coin is a newer addition to the crypto world already brimming with numerous cryptocurrencies.
But Solana tokens comes with a different flavor and consists of several innovations that make it eye candy.
Since the inception of Solana crypto, it has experienced an astronomical rise in popularity, captivating everyone associated with the crypto world.
The value of SOL token increased around 11000 percent, outperforming even the stars of the crypto world – Bitcoin and Etherium.
The market capitalization of Solana coin is just a fraction compared to more established currencies; nevertheless, SOL coin is a hot favorite amongst investors who see it as a better alternative to traditional, mainstream cryptocurrencies.
Solana crypto is an open-sourced project proposed and developed by Anatoly Yakovenko in 2017.
Solana crypto is backed by the same blockchain technology which governs other cryptocurrencies.
However, unlike other currencies, Solana coin combines two consensus models to facilitate the creation of decentralized apps ( dApps) – PoS (Proof of Stake) and PoH (Proof of History).
Thanks to this innovative approach, the Solana system claims to carry out about 5000 transactions per second at extremely low fees.
In comparison, the Bitcoin network only supports seven transactions per second, while Ethereum supports a mere 25 transactions per second.
Solana token is thus considered a solid contender to Ethereum that manages to offer security, decentralization, extensible protocol, and alarmingly high performance.
10 Best Solana Wallets For Solana Coins
Given the exemplary performance of Solana tokens in the past year, everyone wants to jump on the Solana bandwagon and bask in the glory of Solana’s success.
You will need an effective wallet for that, and we have done the work for you. Navigate the list of best SOL wallets and choose the one that meets your fancy.
Solflare currently sits at the top of the list of best Solana wallets, all for the right reasons. It’s an easy-to-install web-based Wallet that offers stringent security and unique features.
It works on several platforms, including desktop and mobile, and there is a browser extension too.
You will find that Solflare is ideal for exchanging, storing, staking, and sending Solana and is highly compatible with the SOL token.
Besides that, Solflare is a complete beginner-friendly option, so if you are new to the crypto world and looking for an easier, somewhat different, and Solana-friendly wallet, then Solflare can be a good option.
Also, if you have a ledger device, you can easily integrate your Solflare Wallet with offline wallets.
Atomic Wallet is another multi-platform Solana-friendly wallet you can go for. It’s a decentralized cryptocurrency wallet and exchange app that supports over 500 coins.
The main attraction is its decentralized exchange, generally known as an atomic swap. You can install it on multiple platforms, including Windows, MacOS, Android, and iOS.
One feature that could be particularly attractive to some users is that Atomic wallet offers a 7% annual return.
Initially, atomic wallets only supported around 300 wallets; however, the number has increased, and now it supports about 500 coins and tokens.
Easy accessibility, a higher number of coin support, and seamless integration with multiple platforms make Atomic Wallet a worthwhile choice for storing Solana coins.
Coin98 is another easy-to-use Wallet that lets you send and receive SOL tokens; however, its functionality is limited.
One exciting feature is its intuitive user interface, which is eye-catchy and straightforward to navigate.
Coin98 wallets come both as a mobile version and a web extension, thus providing a gateway for users to easily interact with the DeFi world and exchange SOL tokens.
Moreover, Coin98 Wallet supports several blockchain networks; therefore, users are free to use a number of DeFi apps, such as Uniswap, PancakeSwap, Venus, directly on Coin98 Mobile Wallet.
It helps optimize transaction fees and minimizes cumbersome trades compared to trading on other wallets on the market.
Exodus Wallet is the perfect combination of power, efficiency, and modernity—incidentally, it’s one of the best Solana wallets available to date.
Launched in 2015, Exodus is the brainchild of the JP Richardson & Daniel Castagnoli team, and through time it has proven its worth and made a name for itself.
Its most eye-catchy feature is its intuitive design and simplicity of use. You won’t have any issues while navigating Exodus wallets, even if you are a novice.
Another significant aspect is its smooth UX or user experience/design mix, making your experience unique and memorable.
Although Exodus Wallet sits on the higher spectrum of price charts, its features, level of security, and enhanced user experience compensate for the extra money.
Besides that, Exodus is available on both mobile and desktop platforms and supports around 132 coins
Solong is a simple, tiny browser extension wallet to store Solana. Its ultra-compatible functionalities allow users to interact with applications based on Solana tokens easily.
Although Solong does not include multiple functionalities like its counterparts, such as Solflare, it fulfills its job perfectly, effectively securing cryptocurrencies, including Solana coins.
This tiny web extension has a little complicated user interface; nonetheless, it’s fast and simple, and once you know how to navigate things, it’s a breeze to operate Solong wallet.
Another excellent option for storing SOL coins is Math Wallet. It has the backing of big names of the industry, including Multicoin Capital, Binance Labs, and Fenbushi Capital, and supports around 85 publicly available blockchains.
Millions of people use Math Wallet, one of the safest and most trusted crypto wallets. Most importantly, It is designed for those who want a simple approach to managing their cryptocurrencies, particularly SOL crypto.
You can opt for a web version or browser extension; however, the mobile app for Math Wallet still does have the functionality to support Solana.
Zelcore is another excellent multi-currency wallet that offers easy functionalities to interact with SOL tokens on the Solana blockchain.
Zelcore is available on both desktop, and mobile platforms, including Windows, iOS, and Android, and currently integrates a custom adapter based on Sollet that allows connecting to dApps.
Interestingly, the Zelcore wallet allocates three independent addresses for each asset, which allow easy storage, transaction, and connection to different dApps.
Furthermore, its developers are constantly working to improve its functionality. Currently, they are in the process of adding DEX to extend the Zelcore wallet’s capabilities further.
Ledger Nano X Wallet
When it comes to offline Solana wallets, the Ledger Nano X wallet is perhaps the best available in the market due to the number of supported currencies, high-security standards, and mobile trading capabilities.
Ledger is indeed one of the best-known brands of hardware wallets available today. The initial popularity came with its first Wallet, the Ledger Nano S – a feature-rich and highly secure cold wallet.
The Ledger Nano X extends the success of its predecessor by adding multiple innovative features such as an integrated battery, Bluetooth connectivity, and increased resource management capabilities.
Moreover, the sleek design is also an attraction. It comes in a matte black finish and has a 128 x 64-pixel screen for scrolling through apps.
The Ledger Nano X wallet offers support for over 1,800 coins and tokens and can manage up to 100 coins simultaneously via the apps on the device.
The Bluetooth connectivity is smooth and allows you to use Nano X with the Ledger Live app on Android or iOS devices to trade cryptocurrencies on the go.
D’cent Biometric Hardware Wallet
Now, if you are thinking about an efficient hardware wallet to store your SOL tokens, here you go.
D’cent biometric hardware wallet is an outstanding cryptocurrency wallet that stores users’ private keys in a safe and secure hardware device.
The main aim is to separate your easy-to-hack computer/smartphone from private keys, and decent is particularly good at doing its job.
D’cent hardware wallet currently supports several cryptocurrencies, including Solana crypto, and continuously adds newer ones as it grows in popularity.
To further limit unauthorized access, D’cent comes with a built-in fingerprint scanner for enhanced security and convenience.
ShiftCrypto BitBox02 Hardware Wallet
Manufactured by a Swiss company, Shift Crypto Securities BitBox02 has undergone several developing phases to integrate features at par with its main competitor – Ledger Nano X.
And Shift Crypto Security certainly deserves praise because they have done a decent job.
BitBox02 integrates a stylish compact, light, and discreet design with a high quality 128×64 pixel monochrome OLED screen to confirm transactions, addresses, SEED, etc.
Besides that, it also comes equipped with a microSD card slot.
The hardware also includes touch sensors for effortless gesture control that allow easy use and higher convenience.
How To Choose A Wallet For Solana Coins?
Once you have your SOL coin, you will need a vault to keep them safe. A Solana wallet has the same purpose – it lets you safely store your SOL.
Besides, it also enables you to exchange SOL crypto therefore, in essence, it gives you control over what you can do with your crypto assets.
There are several options available to choose for saving SOL. It depends on your preferences, intended use, and also your level of familiarity with crypto jargon.
Some offer easy functionalities more suited for crypto beginners, while others are more sophisticated, therefore more suited to seasoned crypto enthusiasts.
How Does A Solana Wallet Work?
Solana wallet is software that allows you to interact with the Solana blockchain and let you buy, sell or exchange SOL tokens.
Once you choose a wallet, it generates a seed phrase – a sequence of 12/15/18/21/24 words drawn randomly.
The Wallet generates a private key from the seed phrase. It is used to access the funds stored in the Solana wallet.
Thanks to the private key, users can manage funds linked with the Wallet’s address.
Moreover, the crypto wallet also generates a public key, a long sequence of letters and numbers that makes up the address.
With a public key, users can send funds to your Solana wallet. You can compare it with a bank account that can be used to send money to your bank account.
Are All Solana Wallets Secure?
It’s natural to think about the safety of Solana wallets. After all, the safety of money is the priority.
Besides, cryptocurrencies are assets whose values can increase significantly. If the Wallet is not safe, there is a risk of you losing a significant investment.
So, are all Solana wallets secure? The best SOL wallets included here all comply with the highest security standards.
However, the security features of different wallets differ in many aspects, and therefore the parameters of determining the level of safety vary according to different Solana wallets.
If you wish to have the highest security, there is no alternative to hardware wallets.
Hardware wallets do not remain connected to the system; therefore, there is no way for hackers getting their hands on your crypto assets.
On the other hand, if you choose desktop or mobile-based Solana wallets, you have to be careful.
The issue is that the private key is often stored on the provider’s end. Therefore it’s imperative to choose a reputable vendor with a proven record.
Additionally, you must ensure that the private key is not lost under any circumstances.
Furthermore, you should set a complex, securely structured password for your Solana wallet to mitigate the risk of password cracking.
Therefore, if you follow basic safety precautions, most of the Solana wallets offer you a high level of security, and you can be at ease that your crypto assets are safe.
Tips For Securing Your Solana Wallet?
There are many instances where people have lost their crypto assets. The case is no different for Solana coins.
Hackers are always on the lookout to find vulnerabilities and break into crypto wallets. Therefore it becomes essential to secure your Solana wallet.
Here are some tips you can follow for enhanced security;
👉 If you are using a system-based crypto wallet, we recommend that you must secure your system and Solana wallet with asymmetric encryption such as WebAuthn / FIDO2.
👉 To add an additional layer of security, we also recommend saving your Solana crypto wallet in an external hard drive or encrypted pen drive. You can connect the Wallet to your system whenever you need to shuffle your crypto assets.
👉 Hardware wallets also provide similar security features. Therefore, we always recommend using a hardware wallet to store your SOL tokens.
👉 In case you are using a Solana crypto wallet that runs on a mobile device, make sure you access your Wallet with a biometrics and security key.
👉 If you use the cloud to store your Solana wallet, ensure that you have proper encryption keys in place and that you do not share the keys with anyone.
👉 Additionally, it would be best to implement two-factor authentication to access your cloud storage.
Points To Consider When Choosing Solana Wallets?
No two Solana wallets are the same. One may be easy to use, while the other can provide stringent security.
Besides, there are a whole host of options to consider when you are in the process of choosing a Solana wallet.
It can be daunting to select one among many, particularly if you are unaware of points to consider when selecting Solana wallet.
In case you need help, here are some points to consider before finalizing a wallet to store SOL;
First thing first, the type of Wallet is where you should begin. There are several types of Solana wallets available out there, hardware wallets, software wallets, web wallets, mobile wallets – these are all types with different features but somewhat similar functionalities.
Next comes the most crucial part, which is security. Security of Solana wallet is of utmost importance; therefore, always choose Solana wallet that offers the highest level of protection.
In this regard, nothing can beat hardware wallets. Besides, two-factor authentication and Multi-signature features are a must for enhanced security.
Choose vendors that uphold the highest security standards so that your SOL tokens are safe.
Lastly, ease of use is another essential criterion to consider while choosing a Solana wallet. Not everyone is a crypto wizard – the level of expertise differs from person to person.
Suppose you are just getting your feet wet in the crypto space. In that case, it’s better to choose a wallet that offers a simple interface and functionality so that you don’t have to entangle yourself with the nitty-gritty of crypto space complexities.
Best Solana Wallets – Final Thoughts
Solana crypto is poised to take on the crypto world and completely revolutionize the dApps ecosystem.
The platform takes a different approach to the established blockchain norms, therefore, is able to offer more enhanced functionality and security.
It widely surpasses the capabilities of the most favored blockchain infrastructure, Ethereum.
Since no upgrade for the Ethereum platform is in the pipeline as of now, Solana seems all set to capture a higher market share.
We have presented here the best Solana wallets available in the market, in case you want to be a part of the Solana frenzy.
Anyway, these best SOL wallets allow you to buy, store and sell SOL tokens effortlessly.