The best Elrond wallets; Get to know EGLD cryptovolts
Elrond is a network to build Decentralized Applications (DApps) It is based on blockchain, which also has a native token for its activities. This native token or EGLD is used to pay transaction fees and reward users. To hold EGLD, you need Elrond wallets. These wallets must support the Elrond token and provide you with services such as sending and receiving tokens.
For a better understanding of this article, we suggest what is Elrond article? read the
Elrond and its wallets
The Elrond network is a blockchain-based network that allows its users to create decentralized applications with their native tokens. The goal of the Elrond project is to provide a scalable solution and prevent the creation of traffic in blockchains. With the help of scalability solution, Elrond makes transactions quickly and with low fees. According to tests, the Elrond network can process up to 15,000 transactions per second. Therefore, it is considered one of the fastest blockchain networks.
native token EGLDIt is used for staking, making transactions in the network and voting. Also, the reward of the users who work in the network is also paid to them in the form of Elrond assets. After receiving the Elrond token as a reward or even buying it, it must be kept in the Elrond wallets. The wallets that support Elrond token are:
- Elrond Wallet
- Math Wallet
- Binance Chain Wallet
- Trezor Wallet
- Ledger Wallet
Introducing the best Elrond wallets
Above, we introduced some examples of the best Elrond wallets, some of which are hardware and others are software. In the following, we will introduce these EGLD cryptocurrency wallets and express their positive and negative features.
Ledger hardware wallet is a digital currency wallet produced by Ledger company. This wallet was launched for the first time in 2014, after the great efforts of 8 experts. Ledger prevents your digital assets from being attacked and hacked because of its offline services. For this reason, hardware wallets are considered high security wallets and are used to store valuable assets in large volumes.
The advantages of Ledger hardware wallet are:
- Providing high security and protecting digital assets against hacker attacks.
- Support for 1500 digital currencies.
- Resistant to physical damage.
- Ability to recover assets after physical wallet damage.
The disadvantages of Ledger hardware wallet are:
- Relatively high price, especially for Iranian users.
- The complexity of using this wallet for unfamiliar people and beginners.
The official wallet of Elrond is a web wallet that allows everyone to use it with a simple and practical design. You can store, send and receive your Elrond tokens through this wallet. After visiting the Elrond wallet site, create a new wallet to be able to use it.
The advantages of Elrond online wallet are:
- Since it is an online wallet, you can use it anywhere.
- Exclusive support for Elrond token.
- Buying and selling Elrond tokens in this wallet is very simple.
The disadvantages of Elrond online wallet are:
- It is not very secure and there is a possibility of hacking attacks on the assets of this wallet.
Trust Wallet is considered one of the most famous and best Elrond wallets. This wallet, in addition to supporting the Elrond token, can support more than 1 million digital currencies NFT has the TrustWallet wallet has a mobile version for Android and IOS that can be easily installed on them. After installation, you can send and receive, maintain Elrond tokens. Also, TrustWallet is popular for beginners with its simple user interface. Because buying and selling Elrond will be easy in this wallet.
The advantages of the Trust Wallet software wallet include:
- Support for more than 1 million digital currencies and NFTs
- Can be installed on Android and IOS smartphones
- Simple user interface to manage, receive and send digital currency
The disadvantages of the Trust Wallet software wallet are:
- Difficulty in recovering lost assets.
- Like any online and software wallet, there is a possibility of hacking attacks on it.
Metamask is another one of the most popular Elrond wallets, which has attracted the attention of many users due to its simple user interface. You can install Metamask wallet on your smartphone or computer. After installing this wallet, you will be able to store, send and receive digital currencies and NFTs.
The advantages of the Metamask software wallet are:
- Easy account creation and setup.
- Failure to receive personal information when creating a user account.
- Ability to create multiple wallets in one app.
- In addition to supporting the Elrond token, it also supports all ERC-20 tokens.
The disadvantages of the Metamask software wallet are:
- It is not possible to reset the password.
- Limited support.
The best Elrond wallets for staking
In short, staking is a process to earn profit; By storing and freezing some digital currency, you receive profit in return. According to the type of digital currency and its amount, the annual profit of staking varies between 5 and 35 percent. You can also earn profit through staking Elrond and profit from the future value of Elrond. For this, you need Elrond wallets with the ability to stick. The best of these wallets are:
- Trust Vault
- Ledger hardware wallet
- Binance China wallet
Scoring Elrond wallets
After a brief introduction to some examples of the best Elrond wallets, we are going to reach a complete summary. To choose a good Elrond wallet, be sure to check this table and choose a wallet accordingly.
|wallet||Type of wallet||security||Interface|
|Trust Vault||Android and IOS software||Top||easy 5 points|
|Elrond’s wallet||Web and online||Rather High||easy 5 points|
|Binance China wallet||software||Top||easy 5 points|
|metamsk||Android, IOS and desktop software||Rather High||easy 5 points|
|Ledger wallet||hardware||very high||Hard 1 point|
|Treasure Vault||hardware||very high||Hard 2 points|
|Like Walt||software||Rather High||Easy 4 points|
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