Crypto Wallets: Best wallets to Store and Stake your SOLANA (SOL)
Updated: Sep 20, 2021
Solana (SOL) is a Proof Of Stake (PoS) decentralized blockchain system that is built to enable scalable user-friendly applications. What makes it unique is its high transaction rate of over 50,000 executable transactions per second which makes it one of the fastest blockchains in the world. Solana also has an average cost per transaction of only about $0.00025.
Are you looking for the right wallet to store your valuable SOL tokens? If so, you can’t ignore this!
The official Solana website mentions its support for several kinds of wallets including the Solana Native Command Line App. However, for the majority of its users, it recommends using app wallets and browser-based web wallets, due to the better user experience that they provide unlike having to learn command line tools as in the case of the Native Command-Line Wallets. However, there is a catch! If you’re an advanced user/developer the command-line wallets could prove to be more appropriate, as new features on the Solana Blockchain will always be supported on the command line first before being integrated into third-party solutions.
Well...If you’re not just that advanced yet, Don’t Worry! Here are some recommended third party wallets officially recommended by Solana itself:
DECENTRALIZED WEB WALLETS - (OUR RECOMMENDATION)
This is a non-custodial Chrome extension. It has a simple, clean, and beautiful User Experience Design and has been recreated for DeFi and NFT’s. It also has access to a staking mechanism.
This is a wallet that was specifically built for Solana and is a community-created non-custodial wallet. It gives its users access to the creation and management of stake accounts including the potential to send and receive any SPL (Solana Program Library) token.
Buy Solana SOL with Credit Debit Card Instantly
Buy Solana (SOL) with a credit card, debit card, or bank account and sent it directly to your Solflare or Phantom wallet:
Durch.net powered by Moonpay is a non-custodial intermediary solution to fund your Web3 decentralized wallets directly from your credit-debit card and bank accounts.
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Apart from app and web wallets, Solana can also be securely stored and staked on hardware wallets like the Ledger Nano S and Nano X. Hardware wallets are always considered better and securer as they are harder to hack into.