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All crypto transactions begin and end in crypto wallets. They safeguard your coins and enable funds management. There are about 82 crypto wallets today. While many promise easy access and operation, reliable service, and safety of funds, not all deliver what they promise. Thus, we’ve done all the digging and summarized the best polkadot wallets of 2022 to hold your polkadot. If you own Polkadot tokens, your first question would be ‘Does Metamask support Dot?’ Well, Polkadot has its own network and can, therfore, not be stored in MetaMask. But you need not worry as we bring to you the 5 best polkadot wallets of 2022.
Best Polkadot Wallet of 2022
Parity Signer Wallet
Parity Signer is an open-source cellular wallet explicitly designed for offline storage of most cryptocurrencies, including Polkadot. Parity signer is compatible with iOS and Android devices. It's an offline wallet, which means you may make transactions without connecting your phone to any internal or external networks. This is what makes it an ideal wallet for polkadot. The Parity Signer Polkadot coin wallet is highly secure. Your credentials are not saved online, even though it never connects to the internet. You can view your account’s dashboard on any connected computer with its cool "Watch Only” feature. The wallet is also compatible with Trezor and Ledger hardware wallets.
Pros
- Very secure
- Great customer support
- Can be used as cold storage
- Signed payments
Cons
- It doesn’t support as many coins
Polkawallet
Polkawallet supports Polkadot, Acala, Kusama, and many other digital assets. The wallet permits users to see assets that are locked, reserved, or bonded assets and transfer them to any account via a QR code. Since the Polkawallet is officially linked to the Polkadot coin, you can hold your coins to win incentives. It features an offline signature sign-in to enhance the security of your coins. Additionally, the wallet has a social recovery option that enables users who may have forgotten their passwords to recover their funds through a connected social relationship account easily. Users can also engage in the governance of the token through Polkawallet. Every referendum or proposal will be notified through the app.
Pros
- Free and easy to setup
- Offline signature
- Social recovery option
- Supports cross-chain protocol
Cons
- Has no live chat service
- Not ideal for beginners
SafePal Wallet
SafePal is an excellent and reasonably priced solution at only $40. Safepal hardware wallet works while completely offline and supports DOT currencies. Self-destruct and key-erasing devices are included in the wallet. It aids in the advanced protection of your stored Polkadot coins. USB-stick wallets are hackable, unreliable, and will likely vanish when USB is phased out in a few years. The tin-foil hat folks will appreciate that the device can be charged with a USB battery. SafePal is appealing to the HODL crowd, according to many reviews online. The software also allows you to enjoy the most exciting aspect of crypto trading: watching prices rise.
Pros
- Ideal for both beginners and experts
- Self-destruct mechanism when it detects malware
- Affordable
Cons
- It doesn’t support some cryptos like TRON, Litecoin
Ledger Nano X
Polkadot is also accepted by the Ledger wallet if you're looking for a reliable polkadot hardware wallet. It works with Ledger Live natively and with Polkadot-JS UI and the Polkadot plugin. Cold storage wallets are typically encrypted devices that store users' Polkadot assets offline, offering an extra degree of protection against the ever-evolving risks of being online. With the new Bluetooth-enabled hardware wallet, you can safely hold, buy, exchange, stake, or manage your Polkadot coins. All of your Polkadot coins are kept safe in one location.
Pros
- Very secure due to seed phrase
- Supports many cryptos
- Tamper proof
- Bluetooth connectivity
Cons
- Expensive to buy
CoolWallet Pro
CoolWallet Pro is about the size of a credit card and may be carried in your wallet. It works with the CooBitX software for Android and iOS mobile devices and employs an encrypted Bluetooth connection. It offers a large variety of services usable in a protected environment, such as purchasing, selling, cryptocurrency exchange, staking USD for high returns, connecting and using DApps / DeFi protocol, etc. The option to safely stake Polkadot DOT right from your CoolWallet Pro hardware wallet is one of the excellent advantages, and this is the current APY.
Pros
- Very secure
- Extended battery life
- Offers secure staking
- Compact size for portability
Cons
- Lacks passive income options
Conclusion
So now you have it: a selection of the best polkadot wallets of 2022 for storing Polkadots. The demand for Polkadots (DOT) supported wallets grows as the coin's adoption grows. This means that the list will most likely grow over time. If you're looking for a very secure storage option, hardware wallets will not suffice. Yes, you can use the wallets mentioned above. Finally, whatever wallet you use, make sure it does not compromise security features. When it comes to security, hardware wallets and their interoperability with application/software wallets are usually an ideal option. Follow the wallet security guidelines keenly, and do not forget to do your due diligence. Before making any final decisions, double-check everything.