No matter what you do in Web3 – whether you’re buying cryptocurrencies, trading NFTs, or playing blockchain games – you always start and end with one tool: your Software wallet.
Software wallets are essential for interacting with all things blockchain-based. Some are just safe homes for your digital assets (hopefully!), while others offer a wide range of services, from staking and exchange services to NFT galleries, reward mechanisms, and more.
While one wallet has dominated the past few years (we’ll get to that!), many other challengers are growing in popularity, especially in 2024 – but what are they, what do they offer, and how do you Should a conversion be made?
Here is our take on the top 5 software wallets of 2024.
Source: OKX#5 OKX Wallet
- roll out: December 2022
- Blockchain: 80+ blockchains including Ethereum, Ethereum Layer-2 and Solana
Originally created to support users of its centralized cryptocurrency exchange (CEX), OKX wallet Developed by the eponymous OKX, it now provides rich features for NFT holders, DeFi enthusiasts, etc.
In addition to being able to manage your digital assets in a simple and straightforward way, OKX Wallet also connects directly to the OKX exchange, allowing users to convert between thousands of popular tokens.
OKX wallets have become a popular tool for those who like to be on the cutting edge of the blockchain space, as they are often among the first to incorporate new features and trends, such as support for Bitcoin ordinal numbers, staking of BRC-20 tokens, and Supports Solana Blinks across all EVM blockchains.
Those who are already using OKX as a centralized exchange will benefit the most from OKX Wallet due to the connection between the two, but OKX Wallet has started to attract users beyond itself thanks to its enjoyable User experience and features such as zero-slip transfers.
As its global brand presence, cryptocurrency exchanges, and NFT markets continue to grow, it’s no surprise that OKX Wallet may achieve the same goal in 2024.
Source: Trust Wallet#4 Trust your wallet
- roll out: November 2017
- Blockchain: 70+ blockchains including Bitcoin, Ethereum, and Solana
Founded in 2017 by developer Viktor Radchenko and acquired by Binance in July 2018 (although still operating as an independent entity), Trust wallet It has been a popular software wallet solution for years, thanks to its clear and simple user interface and support for a large number of blockchains.
With its close ties to Binance, one of the largest and most popular CEXs, Trust Wallet has become a favorite among cryptocurrency traders, although it has gained a lot of traction in the NFT community due to free in-app NFT claims and powerful features. The group also gained affinity.
While its close ties to Binance have raised suspicion among some in the community, many are reassured by the fact that it is open source and the code can be viewed publicly on GitHub.
As with the OKX wallet, those who are already regular users of the closely related CEX (Binance) will see the greatest benefits, but equally, more and more members of the Web3 community are looking for alternatives to major software wallets increasingly Solutions such as Trust Wallet are adopted in many places.
With its suite of features growing month over month, and crypto-focused and NFT-focused clients receiving equal attention in future plans, we expect Trust Wallet will only continue to grow in 2024.
Source: Rainbow#3 Rainbow
- roll out: April 2019
- Blockchain: 9, including Ethereum, Optimism and Fundamentals
The first wallet on this list that is not closely related to CEX, rainbow is a non-custodial wallet that gained popularity in late 2023 for its Rainbow Points product, which allows anyone who has ever interacted with Ethereum to earn Ethereum allocations, with rumors of other rewards to come.
Primarily targeting Ethereum and select Ethereum Layer-2 solutions, Rainbow has gained a loyal following not only for its modern, sleek user interface, but also for its reward structure, with over 30 distributed to Rainbow users to date ETH.
In late 2023 and early 2024, there were rumors that Rainbow would go the route of NFT marketplace Blur and launch its own token, but so far that has not happened. As Rainbow distributes more Rainbow Points to those who use Rainbow instead of other software wallet solutions, many people continue to use the wallet in the hope of receiving token airdrops or additional rewards in the future.
Although it supports a limited number of blockchains, its popularity has made Rainbow a supported software wallet for many popular CEX, DEX and NFT markets, and the Rainbow exchange feature has also brought low-cost cryptocurrency exchange capabilities.
As speculation continues about future rewards mechanics, Rainbow’s community will only grow in kind – regardless, if rewards are possible in the future, there’s no reason not to give it a try!
Source: Phantom#2 Phantom
- roll out: January 2021
- Blockchain: Solana, Bitcoin, Ethereum, Polygon
The most popular Solana-based software wallet, phantom is key to the rise of Solana NFTs, Solana memecoins, and many other current and past trends on the Solana blockchain.
With an intuitive user interface and a host of smart features, it’s no surprise that Phantom has become the number one wallet on Solana in a relatively short period of time, and has even been able to acquire some of the leading Solana-focused competitors, such as Bitters base.
In addition to being able to buy, send, exchange, and receive a variety of cryptocurrencies and tokens on Solana, Phantom has also expanded support for Bitcoin, Ethereum, and Polygon — meaning that for some, it actually can be the only wallet they need.
Phantom includes an NFT library, built-in exchange functionality, and a dApp browser, allowing users to easily access popular services such as Jupiter, Solana’s leading exchange aggregator.
Solana is having a great year in 2024, and Phantom is rising with it. With forward-looking attention and a growing global community switching to Phantom from other options, there’s no doubt it will continue to grow in 2024 and beyond.
Source: MetaMask#1 Meta Mask
- roll out: July 2016
- Blockchain: Ethereum and any ETH-based token (ERC-20, ERC-721, etc.)
The largest, most popular and longest-running software wallet on this list, Metamask It may face stiff competition, but it is undoubtedly still the most popular software wallet in the world, with over 30 million monthly active users.
For many, it’s the first software wallet you download – and while its general user experience may not be as robust as some of its younger counterparts, it’s still a user-friendly way to start managing your digital assets. .
Its feature set has grown significantly over the years. Originally focused purely on Ethereum tokens, MetaMask now features an NFT library, a token bridge, the ability to stake Ethereum, and the popular MetaMask Portfolio—a growing set of tools that provide experienced users with more detailed information about their digital assets. Great granularity and control.
Due to its popularity, MetaMask sees both advantages and disadvantages to its position as market leader. As the largest software wallet, MetaMask has long been the target of hackers looking for vulnerabilities. Its popularity has also made its decentralized nature a hot topic, and some people are concerned about the scope of MetaMask’s authority in Web3.
However, MetaMask and its developer Consensys are often staunch defenders of Web3 and its principles, as well as pioneers of the latest technologies. Consensys has long been at odds with the U.S. SEC, defending ethereum from accusations that it is a security, while MetaMask recently launched a pilot debit card in partnership with Mastercard that can be used in the UK and EU.
Although wallets such as OKX Wallet, Trust Wallet, Rainbow and Phantom continue to grow, MetaMask and Consensys remain the most popular software wallets and have a huge influence in the entire industry.
