The Ultimate List of Free NFT Wallets for 2023: Which One Is The Best?

What Is NFT?

NFTs (Non-Fungible Tokens) are digital assets proving that you own a unique item, including art, music, videos, or even tweets. Fungible assets like cryptocurrencies can be exchanged, i.e., my one Bitcoin equals your one Bitcoin, but that’s not the case for Non-Funcgible assets.

Non-Fungible means that my asset is unique and doesn’t equal the NFT asset you own. They are two different things, not equal, with different values and prices.

Similar to other digital assets, NFTs are created, stored and sold on blockchain platforms, and owning them is like owning a physical asset.

NFTs are increasingly popular these days, especially among artists - the community that cares about copyrights - as they let the artists (and everybody else, of course) monetise their digital content.

NFTs can be sold as unique items, and there’s only one owner for each piece of NFT asset. When it’s sold, the buyer is the new owner and can trade it as they wish.

But where can we keep these NFTs? How can we trade them? How do we manage all this? Don’t panic! The following section will walk you through everything you need to know.

Learn More: What Is An NFT?

What Is An NFT Wallet?

An NFT wallet is a digital wallet that securely stores and manages Non-Fungible Tokens (NFTs) and trades them on NFT marketplaces. To manage NFTs, the users typically need to connect to their Ethereum wallet or other compatible blockchain wallets.

Wallets offer features like multi-chain support, NFT management, and secure storage for private keys, and they come in different types with certain pros and cons. Let’s learn more about wallets below.

What Are The Types of Crypto Wallets?

Crypto wallets (holding all kinds of digital assets from cryptocurrencies to NFTs) come in two main types: Hot and Cold wallets, but each is categorised into different types.

• Hot Wallets include Software Wallets (Desktop and Mobile Wallets) and Online Wallets.
• Cold Wallets include Hardware and Paper Wallets.

Let’s learn more about each one’s features below.

How Wallets

Hot wallets are online crypto storage developed to provide quick and easy access to your cryptocurrency. Software Wallets, Desktop Wallets, Online Wallets, and Mobile Wallets are examples of hot wallets.

• Software wallets: Applications that can be installed on computers or mobile devices. Software wallets include two types: Desktop and Mobile wallets.
• Desktop Wallets: Installed on a desktop computer and are only accessible from that device
• Mobile Wallets: Installed on a smartphone or tablet
• Online Wallets: Online or Web wallets store private keys on a web server, so they are accessible 24/7 but are prone to hacks and cyber attacks. 

Read More: Top Hot Crypto Wallets

Cold Wallets

Cold wallets are simple, physical storage not connected to the Internet. Being offline makes them less accessible due to time and place limitations, but they are safer and better for the long-term storage of your digital assets.

However, they can be stolen! Hardware and paper wallets are examples of Cold wallets.

• Hardware Wallets: Physical devices storing private keys offline. They can be connected to a PC or mobile device via USB or Bluetooth and require a PIN or passphrase to access.
• Paper Wallets: Physical copies of private and public keys are printed on paper. They are highly secure but can easily get lost or damaged.

Read More: Top Cold Wallets

So, the question is how we can choose the best NFT wallets among all these types and what we need to take into account. Keep scrolling to find out!

Factors to Consider When Selecting The Best NFT Wallet

Here are the most important factors you need to consider when choosing the best NFT wallet.

• Security: Security is a priority in the crypto world. Wallets offering strong security features like two-factor authentication, encryption, and seed phrases are the best.
• Compatibility: The NFT wallet you select must be compatible with the blockchain the NFT is on.
• User-friendliness: The more an NFT wallet is user-friendly, the easier to use and manage it is. Look for a wallet with a simple and intuitive interface.
• Mobile vs Desktop: Decide if you want to manage your NFT wallet on a mobile or desktop device. Mobile wallets are more convenient and accessible, while desktop wallets are more secure.
• Reputation: Choose a wallet that is reputable and trustworthy, with a good track record.
• Cost: Some NFT wallets are free, but others charge fees. Consider your options and see if you prefer free wallets or if it's worth paying for the additional features.
• Customer Support: Wallets offering responsible customer support that answers questions and solves problems quickly are the best.

Considering all these factors, let’s get to know some of the best NFT wallets available in the market.

The Best NFT Wallets

The following is a list of the top ten NFT wallets with no special order. The top features and pros and cons for each of these wallets are provided below.

1. MetaMask
2. Trust Wallet
3. MyEtherWallet
4. Coinbase Wallet
5. Ledger Live
6. Trezor
7. ZenGo Crypto Wallet
8. Binance Wallet
9. Enjin Wallet
10. Atomic Wallet

MetaMask NFT Wallet

Pros:

• User-friendly interface for PC and mobile devices
• Supporting Ethereum and ERC-20 tokens
• Customisable gas fees
• Multi-chain support
• High security
• Good accessibility
• Seamless cross-device capabilities
• Allowing multiple in-wallet accounts

Cons:

• Limited storage
• High fees
• Lacking backup option
• Can be slow when the network is highly congested
• Preferred cryptos are added manually
• Not supporting Bitcoin
• Not beginner-friendly

Trust Wallet

Pros:

• Easy to use and available on iOS and Android devices
• Supporting many cryptocurrencies, including the ERC-20 tokens
• Having a built-in DApp browser
• Security
• Backup option
• In-app dApp browser
• Allowing staking
• Complete control of NFTs

Cons:

• Limited desktop support
• No custom token creation available
• Limited customer support
• Charging transaction fees
• Unverified tokens
• Low security levels
• Difficulty in swapping assets to fiat

MyEtherWallet (MEW)

Pros:

• Security
• Accessibility
• User-friendly interface
• Support for multiple tokens
• Highly customisable
• Support custom tokens and smart contracts
• Offering hardware wallet integration
• Easy-to-use interface

Cons:

• Can be overwhelming for new users
• Lacks some features offered by other wallets, like mobile apps
• Limited token support
• Transaction fees

Coinbase Wallet

Pros:

• Multi-currency support
• User-friendly mobile app for iOS and Android
• Offering in-app purchases and trading features
• Easy-to-use
• Vibrant user interface
• Newbie friendly
• High security

Cons:

• Only supports Ethereum and ERC-20 tokens
• Not as secure as hardware wallets
• Limited control over fees
• Centralised storage
• Limited privacy
• Poor customer support
• High transaction fees

Ledger Live NFT Wallet

Pros:

• High security
• Hardware wallet with offline storage
• Supporting multiple NFT standards
• Easy-to-use interface
• Compatibility with major NFT marketplaces

Cons:

• Needs a physical device to access funds
• Slightly expensive fees
• Limited functionality
• Reliance on external software

Trezor NFT Wallet

Pros:

• Highly secure
• Multi-currency support
• Easy-to-use

Cons:

• Requires a physical device to access funds
• Compatibility issues
• Limited functionality
• High fees

ZenGo Crypto Wallet

Pros:

• Easy-to-use
• Security
• Multi-chain support
• Offering built-in trading features

Cons:

• Limited coin support
• Not as secure as hardware wallets
• Custodial wallet
• High transaction fees
• Newer in the market

Binance Wallet

Pros:

• Multi-asset support
• User-friendly interface
• Low fees
• High security
• Supporting Binance Smart Chain and BEP-20 tokens

Cons:

• Custodial wallet and centralised control
• Limited privacy
• Limited support
• Potential for scams

Enjin Wallet

Pros:

• Supporting various cryptocurrencies
• High security
• Built-in marketplace
• User-friendly
• Mobile and desktop support
• Designed specifically for NFTs

Cons:

• Custodial wallet
• Limited privacy
• High transaction fees
• Potential for scams
• Supporting limited Ethereum NFTs

Atomic Wallet

Pros:

• Security
• User-friendliness
• Atomic swaps
• Staking
• Multi-currency support
• Desktop and mobile app
• Built-in trading features

Cons:

• Supporting only ERC-20 tokens
• Mobile app limitations
• No fiat currency support
• Limited anonymity

Now that we know the ten best NFT wallets let’s compare and contrast them and see which ones are better for which needs.

A Comparison of The Best NFT Wallets

The following table compares and contrasts the top ten NFT wallets to give you a general picture of each one’s top features.

Summary

NFTs are taking over the crypto market, and as they grow, the need for secure and trustable NFT wallets is on the rise. This article was the ultimate guide to the best NFT wallets.

It’s crystal clear that NFT wallets have specific pros and cons, and the ultimate choice of any of them comes down to your preferences, priorities and needs.

By reading the thorough review articles provided at Cryptologist, you no longer have to crawl the net to find the bests and make confident investment decisions.

FAQ

You can find answers to the most frequently asked questions about the best NFT wallets in the following subsections.

Which Wallet Can Be Used for NFT?

Various wallets offer the ability to store and manage NFTs, including MetaMask, Coinbase, Binance, Enjin, etc.

Is MetaMask or Trust Waller Better for NFT?

They are both trustable wallets; while Trust Wallet supports various networks, MetaMask is limited to Ethereum and other EVM networks.

Are There NFT Wallets?

Yes, there are wallets to allow storing and managing digital assets from cryptocurrencies to NFTs.