Web 3 wallets are the basis of most decentralized applications, as they are where we can store and manage tokens.
Web 3 is the third generation of the Internet, it is the evolution of the network and Its main characteristic will be decentralizationUnlike previous versions of the network, which were based on expensive servers, Web 3 will operate on the blockchain, as well as on P2P networks, thus offering a completely different, decentralized and secure experience.
What are Web 3 wallets?
Web 3 wallets are the the basis of most decentralized applicationsThese wallets are used to store the tokens and NFTs that power many of these applications.
Web 3 wallets are decentralized, meaning that They have no custody, with the user himself being responsible for it. To do this, they work with private keys and seed phases. This means that the user has sole ownership of the access keys and, therefore, they themselves control their coins. Web 3 wallets They do not delegate control of the tokens to third parties.
It might interest you: What is Web 3?
These wallets are accessible and easily integrated into most decentralized applications.
On the other hand, another of their most important characteristics is that they are anonymous, therefore they are not tied to KYC (Know Your Customer) verification standards, so they can make anonymous, cheap and fast transfers.
The best Web 3 wallets
Although the Web 3 ecosystem is in its early stages of development, wallets are one of its main tools, necessary for its evolution. These tools are constantly being updated, as they must adapt to the changing needs of Web 3.
Dappradar
MetMask is one of the most used wallets for the ERC-20 and ETH token management, although it also has support for tokens Binance Smart Chain BEP-20, as well as for the Layer 2 solutions like Polygon, being one of the most versatile on the market.
MetaMask has been incorporating many native features over time. Among the most notable, we have a native exchange, as well as the possibility of purchasing some tokens using credit or debit cards, thanks to a complete fiat gateway.
MetaMask integrates with most decentralized applications, NFT marketplaces, and also major metaverse games. Additionally, MetaMask has extensions for major browsers such as Google Chrome, Mozilla Firefox, and Brave.
You might also be interested in: Apple Pay integrates with MetaMask to bring cryptocurrencies and Web3 closer to iPhone users
Ledger
Unlike MetaMask, Ledger's Web 3 wallet is a physical wallet on hardware (Cold Wallet). In this sense, they have several models of physical wallets, the Ledger Nano X and the Ledger Nano S.
Both offer the same features, such as the ability to buy, sell and grow our funds safely. Ledger has “Ledger Live”, a feature to earn interest through staking.
Being a cold wallet, it is somewhat more complex to use for those new to Web 3.
It might interest you: What are Cold Wallets?
Silver
Argent is a web 3 wallet for smartphones that also works as a decentralized application search engine. Argent differs from other wallets thanks to a security mechanism that allows it to eliminate transaction fees, seed phrases and private keys.
This unique feature has made Argent a favorite wallet for users with little experience in Web 3, although it is also highly appreciated by more experienced users.
Argent's Android and iOS app allows users to access a large number of decentralized applications automatically. Although it does not have a desktop browser extension, it can be used to Use WalletConnect connection to sync with any desktop browser.
You might also be interested in: Bit2Me and Ledger Enterprise partner to improve the security of their clients' funds
MyEtherWallet
This Web 3 wallet allows us to work on the Ethereum network and is open source, so all its features are free. With it, we can create wallets, work with smart contracts and much more.
It is one of the most functional tools, as it allows us to buy cryptocurrencies using a credit or debit card, as well as send Ether tokens, exchange them and trade with all types of ERC-20 tokens.
Authereum
Authereum is a usability-focused wallet that has eliminated transaction fees. One of its main features is that it has Removed seed phrases and private keys, creating a log in system similar to any Web 2 application, with a username and password.
Authereum user accounts are 100% decentralized. However, Many of the functionalities are centralized, which means that if we want to work without any kind of centralization, we will have to create our own functionalities, something we can do through smart contracts.
