Best Cardano Wallet 2021: The ultimate comparison
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A Cardano wallet is needed by anyone who wants to buy the Cardano cryptocurrency - and this can be an interesting investment, given the favourable Cardano forecast and the technical features of this project. The Cardano in-house currency ADA is one of the top 5 cryptocurrencies in the world and has experienced a huge upswing in recent months.
For this reason, we set out to find the best Cardano wallet for 2021. The choice is huge, as can be seen in our detailed Cardano Wallet review, where we examined different types of wallet, tested their advantages and disadvantages and finally compared them in the big Cardano Wallet comparison. In connection with our Cardano Wallet experiences, a favourite finally emerged: the best Cardano Wallet 2021.
What is a Cardano Wallet?
Anyone who wants to buy Cardano needs a Cardano Wallet to store Cardano's own cryptocurrency ADA - in a kind of digital wallet. There are various options for this, including Cardano online wallets, desktop versions, mobile wallets or the popular hardware options such as Ledger or Trezor. Which is the best Cardano wallet of these options we will find out in this Cardano wallet test.
Cardano itself is a project that takes on the problems of other cryptocurrencies and, as part of an open source design, eradicates these weaknesses in its own cryptocurrency ADA. Even if the goal sounds somewhat idealistic, ADA wants to be or become the perfect cryptocurrency.
Cardano has existed since 2017 and has been constantly improved since then. Due to the constant further development as well as the interesting Cardano forecast as the perfect cryptocurrency of the future, ADA has gradually advanced into the top 5 cryptocurrencies in recent years. The market capitalisation is around 35 billion US dollars (as of February 2021), which is more than significantly better-known and older cryptocurrencies such as Ripple, Cardano or Bitcoin Cash.
The ADA price only seems to be hinting at its potential recently. While it was almost completely below USD 0.10 between mid-2018 and mid-2020, Cardano managed to break out during the crypto rally around the turn of the year 2020/2021 and is now trading at around USD 1. Nevertheless, it should be noted in the context of the Cardano forecast that ADA is still trading 75% below its all-time high in BTC terms - so there is still potential.
If your interest is now piqued and you want to buy Cardano, this Cardano wallet guide will provide you with all the important information you need to find the best Cardano wallet.
Setting up the Cardano Wallet: this is how it works!
Unfortunately, we cannot explain here how to set up each of the ADA wallets. For this reason, we would only like to present the editors' favourite, eToro, and show how to set up one of the best Cardano wallets using this example with a Cardano wallet guide.
Register with eToro
Registering with eToro is child's play. Registration starts with your full name, email address and password. You can then follow the instructions on the screen and in the welcome email.
Cardano Wallet Download
If you then want to switch to the smartphone version for an ADA mobile wallet, you can start the eToro Wallet download in the Google Play Store or the App Store. This means that you can also trade your Cardano on the move. Alternatively, the online version of eToro is available.
Finally, you can log into the Cardano Wallet with your login data.
Buy, sell, send and receive Cardano
Once in the Cardano wallet, it is now possible to both buy and sell Cardano or alternatively send and receive ADA coins from another wallet.
The purchase takes place directly via the eToro app. Funds can be loaded with various payment methods, including Sofortüberweisung, PayPal or credit card. Finally, Cardano can be purchased with this credit.
To send and receive Cardano, all you need is your own Cardano wallet address. This consists of a series of letters and numbers and works similarly to an email address or an IBAN - it is unique. The best thing to do is copy it and you can start sending ADA.
Of course, ADA do not have to be bought immediately. If you like, you can also wait for a particularly favourable Cardano forecast.
Cardano: What are the arguments in favour of the cryptocurrency? What speaks against it?
For a closer look, it is worth taking a look at the advantages and disadvantages of the Cardano cryptocurrency at this point:
Pros
Cons
The best Cardano Wallets
First of all, for all those in a hurry: the best Cardano wallet and therefore our favourite is the online wallet from eToro, which offers the best complete package with an intuitive user interface, helpful customer support, acceptable fees, mobile and online version and a European licence.
In our detailed Cardano wallet test, we examined various wallets, including different forms such as the popular online wallets, ADA mobile wallets for Android and iOS, paper wallets or Cardano hardware wallets such as the Ledger Nano S or the Trezor One. Important for a good test result are the costs in the form of the purchase price and the Cardano fees for trading, the security, the comfort, the customer support and the user interface. In addition, our Cardano experiences as well as those of other users are important.
In the following, we therefore provide a detailed Cardano wallet guide on the various options. Which options are particularly suitable if you want to create an ADA wallet:
eToro Wallet for Cardano
The Cardano wallet at eToro is very easy to create and is therefore also recommended for beginners. Up to 16 cryptocurrencies can be traded, so with this ADA wallet you don't have to commit exclusively to Cardano, but can also trade Bitcoin, Ethereum or Ripple.
Even though the Cardano fees at eToro are somewhat higher than for other cryptocurrencies, eToro is particularly convincing with its enormous range of functions, because with an eToro account, among other things, shares and ETFs can also be traded for free and trading with Forex and CFDs can be started.
Nano Ledger S Wallet for Cardano
The Nano Ledger S, a popular hardware wallet for Cardano, is especially recommended for those who want to focus on security. This hardware wallet convinces with its functionality and the possibility to store hundreds of cryptocurrencies - including Cardano.
However, a clear disadvantage of the Nano Ledger S hardware wallet is that buying Cardano is not possible here. The ADA coins must therefore be purchased via another crypto exchange, for example eToro, and then sent to the private Cardano address of the personal Nano Ledger S before they can be stored there for a longer period of time.
Secure storage is one of the main arguments in favour of hardware wallets and is usually easy for users with a little experience in crypto.
Trezor Hardware Wallet for Cardano
The Trezor One hardware wallet, which is usually one of the most popular hardware wallets, is completely incompatible with Cardano. With its successor, the Trezor Model T, there is, however, an option from Trezor that can also be used to store ADA coins.
Similar to the Ledger Nano S, you have to take a diversion via another crypto exchange if you want to buy Cardano.
ADA Infinito Wallet for Cardano
The Infinito Wallet for ADA and other cryptocurrencies is one of the most popular Cardano mobile wallets. Even though it does not allow the direct purchase of Cardano, a wide variety of cryptocurrencies can be purchased and then exchanged for ADA.
The Cardano Wallet download as part of the Infinito Wallet is quick to do; it can be started quickly by searching for "Infinito Wallet" in the App Store or Google Play Store. The ADA Wallet can then be created accordingly. Big advantages of the Infinito Wallet are the high number of cryptocurrencies - around 100 can be bought and over 2000 are supported - as well as the possibility to earn money online by staking Cardano and other cryptocurrencies.
However, the Infinito wallet also has some disadvantages, which is why it is not considered the best Cardano wallet. High spreads of 5% and more when buying as well as trading fees that are not clearly communicated quickly make Cardano fees skyrocket here. In addition, Infinito is not regulated and has only been on the market since 2017.
The Cardano Wallet experience for the Infinito Wallet in the market is decent. In the Google Play Store, the app has a score of 3.8 out of 5, in the App Store 4.2 out of 5.
ADA Atomic Wallet for Cardano
Desktop wallets are popular alternatives in the crypto sector for not storing cryptocurrencies online on the one hand, but on the other hand not going the cumbersome way via hardware or even Cardano paper wallets.
The Atomic Wallet is a representative of the desktop sector when it comes to Cardano wallets. In terms of user guidance and design, it is very similar to the Exodus Wallet, the second Cardano Wallet alternative in the desktop sector. It also supports far more than 500 cryptocurrencies.
Nevertheless, the Atomic Wallet also has a decisive disadvantage, which is hidden in the Cardano fees, similar to the Infinito Wallet. Around 5% in fees and/or spread must be planned here, regardless of whether you buy Cardano or trade with various cryptocurrencies. In addition, there is the network fee.
Binance Online Wallet for Cardano
For those who like it quick and easy and have no problem with an international crypto exchange, Binance can be a suitable option for the best Cardano wallet. Binance is one of the leading online exchanges and can offer low fees and a very large selection of over 100 cryptocurrencies. Also, those who want to buy Cardano can do so here easily and via credit card or bank transfer.
Even though Binance is suitable for beginners in the crypto sector, both the amount of customer support and the user interface cannot keep up with eToro. Some of the important options are somewhat hidden, so buying ADA is not 100% intuitive at the beginning. In addition, Binance does not have a European financial licence.
Cardano Paper Wallet
As with other cryptocurrencies, ADA also offers the option of a Cardano Paper Wallet. Here, the private keys are written analogously on paper and stored securely in different locations so that they are not accessible from the internet.
Even though the Cardano Paper Wallet is generally considered to be secure, 100% security cannot be guaranteed, especially due to errors in the creation or use of the wallet. A paper wallet is only recommended in limited cases.
Cardano Wallet Functions & Features
Depending on the type of Cardano Wallet, there are different functions and features that should be considered. In our detailed Cardano Wallet Test, we show what to look for when choosing the best ADA wallet.
1. Compatibility
All of the options mentioned in this Cardano wallet test are compatible with Cardano and other cryptocurrencies. One exception is the otherwise so popular hardware wallet Trezor One, which cannot store ADA coins.
Before choosing one of the best Cardano wallets, however, it is recommended to take a look at the description or the product instructions to check compatibility.
2. User-friendliness
In terms of user-friendliness of the different types of Cardano wallet, the online wallets are the most straightforward to use. The coins are stored directly on the platform, as are the seeds. There is no need for cumbersome transfers between different platforms, but you are not in possession of the private keys.
Desktop wallets and mobile wallets are also user-friendly, as long as you only consider the ease of use. However, the user-friendliness ends with the Cardano fees at the latest.
With hardware wallets, the wallet must always be connected to the internet before Cardano Coins can be transferred to a trading platform, which is somewhat inconvenient.
A Cardano paper wallet is even more time-consuming and labour-intensive and therefore not recommended, at least for beginners.
3. Security
Hardware wallets and paper wallets are considered particularly secure, although application errors or physical destruction can also occur here. To secure the Cardano Wallet, it is advisable to duplicate the wallets.
With an online wallet, it is important that the chosen provider is reputable, professional, licensed and, if possible, has been on the market for many years. This reduces the platform risk.
PC wallets and mobile wallets are only as secure as the corresponding device. A backup on different devices, including offline backups, is indispensable here.
4. Customer support
In the search for the best customer support, the online wallets in particular stand out in the Cardano Wallet Test. For example, eToro offers live chat and telephone support in addition to the usual contact form.
If, on the other hand, you use a hardware wallet, a desktop wallet or a mobile wallet, it can be more difficult to find answers to any questions promptly.
With paper wallets, there is no customer support at all. All information must be researched and verified yourself.
Cardano Wallet Fees
An important consideration when looking for the best Cardano wallet is also the fees - this is also the case with the ADA Coin. Precisely because the differences are extremely high, it is important to take a look at the Cardano fees of the individual ADA wallets.
Storing the coins is generally free of charge, although the hardware wallets for ADA, the Ledger Nano S and the Trezor Model T, have acquisition costs. The differences in the Cardano fees are mainly when buying and trading - here, a transaction can quickly add up to a spread of 5%.
In the following, we have therefore compiled an overview of the Cardano fees when using the best Cardano wallets:
Provider | One-off costs (registration etc.) | Fees (trading fees or spreads) |
|---|---|---|
eToro | 0 EUR | 0% fees + 2.9% spread |
Ledger Nano S | Approx. 70 EUR | Spread + fees depending on the exchange used + network fee approx. 0.6 ADA (may vary) |
Trezor Model T | Approx. 160 EUR | Spread + fees depending on the exchange used + network fee approx. 0.6 ADA (may vary) |
Infinito | 0 EUR | 4-5% spread per trade / purchase / transaction |
Atomic | 0 EUR | 4-5% spread per trade / purchase / transaction |
Binance | 0 EUR | 0.1% EUR fees (2% for credit card) + 0.3% spread |
In terms of Cardano fees, the online exchange Binance is currently clearly ahead, especially since the spreads of the other Cardano wallet alternatives are very high.
Especially those who prefer one of the desktop or mobile wallets such as Atomic or Infinito as their ADA wallet should definitely pay attention to the Cardano fees. Here it is advisable to first buy Cardano at eToro or Binance and then transfer it to the wallets. The same applies to hardware wallets, where the ADA purchase on a third-party wallet is necessary anyway.
What is the best Cardano Wallet for which type of investor?
As our Cardano Wallet Test shows, the options for storing ADA are extremely diverse. The ultimate best Cardano Wallet does not exist. Rather, it is a mix of factors that vary depending on the type of investment.
If you are looking for a good and inexpensive complete package with an unbeatable range of functions, you can't go past eToro. No other provider offers the combination of regulation, security, convenience and user interface. The Cardano fees are also still acceptable, especially compared to desktop or mobile wallets.
Which coins can be stored in the Cardano Wallet?
All of the options presented here in the Cardano Wallet Test are compatible with several cryptocurrencies, so that dozens or even hundreds of cryptocurrencies can always be stored in addition to the ADA Coin.
If you feel like it, you can also trade different cryptocurrencies with each other, because with the exception of hardware wallets, trading is very easy. Due to the spreads, however, the Cardano fees should be kept in mind for all providers.
Cardano Wallet advantages and disadvantages
Within the framework of this Cardano Wallet Test, we have presented various storage options and also explained the special features of each. Each ADA wallet therefore has its own advantages and disadvantages.
The following overview of the advantages and disadvantages of one of the best Cardano wallets, the eToro account, therefore serves as a kind of summary of our Cardano wallet experiences.
Advantages
Disadvantages
Conclusion of our Cardano Wallet experience
There are many ways to find the best Cardano Wallet. The right choice depends above all on the type of investment. Alternatively, Binance is a good place to go for all traders who want to entrust themselves to an established crypto exchange, albeit one that is not regulated in Europe.
Cardano itself remains an exciting project with an interesting future. In particular, the Cardano forecast for the further course of the share price remains promising. The exact price target of ADA remains difficult to assess, but potential is definitely there.
Those who want to be part of this need an appropriate online wallet for ADA - and can choose their personal best Cardano wallet from the options presented here. And if you don't want to invest in Cardano yet, you can simply save this Cardano wallet guide for later.
Top Cardano Wallet 2021: eToro
According to our Cardano Wallet experience, eToro offers the best complete package. Anyone who is new to the crypto business or simply wants to buy ADA in an uncomplicated way - with high security and competitive Cardano fees at the same time - cannot avoid eToro. Users will find an extensive and German-speaking customer service, the revolutionary Copy Trading function, as well as opportunities for further education.
Key Features:
overall
FAQ
Cardano offers different types of wallets, including online wallets, mobile wallets and hardware wallets. Which is the best Cardano wallet depends on the type of investment.
Almost all Cardano wallets are free of charge, especially the online wallets and mobile wallets for ADA. Cardano fees only apply when buying or transferring ADA.
As a rule, Cardano online wallets do not need to be secured, as the provider takes care of this. Only the access data and recovery keys must be carefully stored. With desktop wallets and mobile wallets, however, you have to take care of the security yourself.
ADA Coins can be stored in any wallet for an unlimited time.
