The Synthetix network token is a token based on the Ethereum network that powers the network. The protocol currently supports fiat currencies, cryptocurrencies, and commodities. After knowing what snx is, you will need one of the SNX wallets to store and manage your assets; Whether you are looking to keep your assets safe and HODL or manage them on a daily basis, you should definitely make a safe choice among the best SNX wallets.
In this article from Wallex blog, we will introduce SNX cryptocurrency wallets and examine them in terms of being cold or hot and their various advantages and disadvantages.
Overview of SNX wallets
Synthetix Network Token A token ERC20 It works on the Ethereum blockchain platform. This token can be stored in a wide variety of hardware and software wallets. Of course, first of all, if you are not familiar with how to buy and sell SNX digital currency, read the article on the Wallex blog.
You need to set up one of the SNX wallets to buy SNX. There is a wide selection of wallets that support this currency. But in this article, to make your work easier, we have listed the best wallets that support it.
In the table below, this list is listed with the level of difficulty, so that you can choose the most suitable one according to your level.
| SNX wallet | Ease of use |
|---|---|
| Ledger Nano S | medium |
| Trezor | hard |
| Trust Wallet | simple |
| Atomic wallet | simple |
| MyEtherWallet | medium |
| Lumi wallet | simple |
| ImToken | simple |
| Metamask | simple |
The best wallets for staking and storing Synthetics Network (SNX)
The cryptocurrency space is a battlefield and everyone wants to win this battle. Tools such as cryptocurrency wallets introduce additional features such as internal exchange, staking, etc. to their wallets to attract more customers to their platform. In the following, we have listed SNX wallets that are safe, reliable, easy to use and popular and support staking mechanism so that users can earn more passive income while storing assets. After buying SNX, you can safely store it in these wallets.
Trust Wallet
Trust Wallet is a non-custodial multi-currency mobile application. In this wallet, the user has complete control over digital assets. With this option, you can store everything from cryptocurrencies to non-fungible tokens (NFTs). TrustWallet, the official cryptocurrency wallet Binance It currently supports 65 blockchains such as Bitcoin, Ethereum, Tron, and Ripple along with more than 4.5 million crypto assets including NFTs. In addition, access to decentralized applications (DApps) is also one of its important features.
Trust Wallet works on mobile devices and any blockchain will be accessible immediately after downloading the app. All contact information is shared only between the parties of the transaction and does not provide the personal information of users to any third party. Trust Wallet does not hold user funds and users only have access to their private keys or master phrases.
Trust Wallet app for Android and iOS Free and can be downloaded through PlayStore or AppStore respectively. It also has a simple and interactive user interface that has helped the platform to have more than 10 million active users.
Synthetix Network Token can be sent directly to TrustWallet as one of the SNX wallets along with any other ERC20 tokens you want to keep safe.
Atomic Wallet
Atomic wallet is more popular than ever in the crypto space. Its key features are atomic swaps. Atomic Swap was launched in 2017 by a fintech thinker, Changelly CEO Konstantin Gladych.
Synthetix Network Token can be stored in AtomicVolt. This wallet, which is one of the most secure SNX wallets, can be used in Android versions. iOS and installed and launched several desktop versions. Atomic wallet from More than 300 digital currencies Including SNX and other tokens ERC20 And BEP2 supports. The wallet also offers a built-in exchange service that users can use to exchange back and forth between all supported assets, including the Synthetix network token.
MyEtherWallet
You can also store your cryptocurrency in one of the most reliable SNX wallets, MyEtherVault. All tokens ERC20 Among other things, synthetics currency can be stored using this wallet in the Ethereum blockchain, without the need to download any client or software.
MyEtherWallet is a web-based wallet that can be accessed anywhere. Of course, it should be compared to Phishing attacks Be careful, but if your device and internet are safe, there is no need to worry. In addition, it is compatible with hardware wallets such as Ledger or Trezor and can be used for storage.
SNX cryptocurrency can be stored and sent directly to your MyEtherWallet address, along with any other ERC20 coin.
Ledger Nano S
Ledger Nano S has strong security protocols and it can be said that it is the safest wallet for long-term storage of your digital currency. Beginner investors or people who don’t trade much can be relieved to know that assets are stored offline. At the same time, they can easily access their cryptocurrency or view their accounts while using a physical device.
The security level of the Ledger Nano S hardware wallet is high and this security is provided by its proprietary chip and operating system. This wallet gives investors the power to control their private keys.
Investors can store more than 1100 coins and tokens in the Nano S ledger; 23 cryptocurrencies are directly supported by the ledger, others are added by installed third-party applications.
If you hope for the future of snx digital currency and you are looking for a safe and hassle-free option to hold synthetics cryptocurrency, we recommend Ledger Nano S; Of course, if your assets are large and you can afford to buy the device.
imToken
imToken one Multi-chain wallet Android and iOS are centralized and allow users to access the blockchain without local storage. The imToken wallet allows trading through Tokenlon and becoming a hardware wallet through imKey.
Therefore, imToken supports advanced security features such as cold wallet and imKey Bluetooth hardware wallet, making it a great choice for beginners or advanced users. In this wallet, all major networks RPC Custom like BSC, Polygon, Gnosis, Fantom etc. are pre-installed. Therefore, changing your wallet from one network to another is done with a simple selection of drop-down menus.
imToken is one of the SNX wallets that supports it and more than 1000 other tokens.
MetaMask
MetaMask is a free, open-source, hot wallet fully functional for the most versatile blockchain out there, Ethereum. This wallet is your gateway to The DeFi ecosystem, Non-Fungible Tokens (NFT), ERC-20 tokens And that’s practically everything that’s active on Ethereum.
This wallet as one of the SNX wallets in two versions iOS And Android Available. In addition, an extension for Chrome, Firefox, Brio and Edge browsers (edge) has it.
The best Synthetics Network (SNX) digital currency software wallets
As the name suggests, a software cryptocurrency wallet is completely digital and is designed into software programs or applications suitable for desktop computers, laptops, smartphones or other digital devices.
In this section, we have introduced the best Synthetics Network (SNX) software wallet that does not allow staking.
Lumi Wallet
Experienced cryptocurrency traders are always looking for wallets with advanced features. Lumi Wallet is a multi-currency wallet designed to meet the needs of both novice and experienced cryptocurrency owners. It also offers extensive coin support and is easy to use.
This wallet is in the form Free In versions Web, Android and iOS It is provided that SNX can be sent, received or exchanged for more than 1000 coins and tokens.
You can always use the Lumi blockchain wallet as a multi-currency wallet for over 1,000 crypto assets or as SNX wallets to securely manage all your Synthetix tokens.
Best Synthetic Network (SNX) wallets for long-term asset holding
Hardware wallets securely store cryptographic user private keys in offline or cold storage; This means that they are not connected to the Internet, except when the user has to connect it to a computer to complete the transaction in a short period of time. Therefore, hardware SNX wallets have high security for holding digital currency assets.
Trezor
Trezor is a cryptocurrency hardware wallet developed by SatoshiLabs It was designed to maintain the security of cryptocurrency assets at a high level.
Trezor is one of the SNX wallets that offers many features to help protect your crypto assets. Examples include two-factor authentication, private keys, and more.
Trezor One, the first full version of Trezor was released on July 29, 2014, exactly one year after the Trezor prototype was introduced in 2012. Another version with the name Trezon Model T It was released in more than 150 countries.
With these SNX wallets, you can store SNX and many others such as Bitcoin, Ethereum, Binance Coin, Tether and many others for a long time.
Choosing the best SNX wallets
Each of the SNX cryptocurrency wallets that we introduced have advantages and disadvantages that you should choose the right option according to your needs. In the table below, we have summarized all the features of the wallets that we have reviewed in the form of a list.
| wallet | Advantages | Disadvantages |
|---|---|---|
| Ledger Nano S | Affordable cold wallet, store private keys on device, support more than 5500 coins and tokens | Limited storage for crypto apps, small screen, not as mobile friendly as other wallets |
| Trezor | First-class security level, support for more than 1800 digital currencies, portable, no transaction disclosure, easy to use | No smartphone app, high price, difficulty in withdrawal |
| Trust Wallet | Support for more than 1 million digital currencies, convenient setup and use on smartphones and some Mac computers, simple purchase and sharing of digital currencies directly in the wallet | Not being able to recover lost account with customer support, having the potential for phishing attacks |
| Atomic wallet | Compatibility with any device, with crypto purchase feature, support for all types of crypto assets, simple user interface, encrypted private keys | Only has access to a limited number of crypto assets for purchase, not compatible with hardware wallets. |
| MyEtherWallet | Free open source software, user control of private keys, compatible with ledger Nano S and Trezor hardware wallets, providing token exchange facility, storing all custom ERC 20 tokens | Prone to hacking and phishing attacks, difficult to set up for newbies, only supports Ethereum and ECR 20 tokens and does not support Bitcoin and other major coins. |
| Lumi wallet | Management of hundreds of different tokens, ease of use on any mobile device, Hierarchical Definite Support (HD) | High exchange fee when buying crypto (1%), lack of multi-signature support, not open source, worry about sending private keys to remote servers |
| ImToken | Support for multiple coins and assets, open source, internal token exchange, full ownership of private keys | No desktop or web version, no two-step authentication |
| Metamask | Open source, private keys are stored in the browser, compatible with Wallet Ledger | Not as secure as a hardware wallet, it only supports Ethereum and ERC-20 tokens. |
In this article, we tried to introduce the best SNX wallets to you and examine each of them from different dimensions. You can also share your user experience of these wallets with us and introduce the best ones.
Introduction and review of the best SNX wallets (Synthetics Network) for the first time on Wallex blog. appeared.
