Posted in:

6 Best Solana Wallets for NFTs and DeFi

© by

Solana has become one of the most popular blockchains since its public beta launch in 2020. Blockchain users have migrated to Solana for its fast speed, low transaction costs, and growing decentralized ecosystem.  

All Solana users must choose a Solana wallet to interact with the Solana blockchain. Solana wallets are software apps that handle communication between your device and the blockchain network. Most Solana wallets feature capabilities to send and receive Solana and other tokens, earn staking rewards, interact DeFi apps, and collect NFTs. 

Currently the only hardware wallet that supports Solana is Ledger. You can choose from three models: Ledger Nano S, Ledger Nano S Plus and Ledger Nano X. Ledgers are physical devices that resemble a USB stick. Many Solana wallets including Avana Wallet, Phantom, Solflare, and Glow support Ledger devices, which means you can keep your Solana private keys safe on your Ledger while getting the GUI benefit of your favorite Solana wallet. Hardware wallets are more secure because they keep your private key isolated from internet-connected devices.  Ledger hardware wallets cost between $50 and $175 dollars and can be purchased from most large online retailers. 

  1. Avana Wallet

Avana Wallet was released in mid-2022 and it offers a browser extension for Google Chrome, Brave, Firefox, and Microsoft Edge, as well as a mobile app for iOS and Android. Avana Wallet is a self-custody wallet that can be used to store multiple accounts from different seed phrases. The Solana wallet is fast and has a pleasant user interface. Avana Wallet has several advanced features for collecting and managing your NFT collection – you can mint NFTs, modify metadata, and burn spam NFTs in app. Avana Wallet has native liquid staking with Marinade Finance, and zero-fee token swaps with Jupiter Aggregator. Avana Wallet is the only Solana wallet that features two-factor authentication for extra account protection. Avana Wallet has Solana Pay for its browser extension and mobile app.

  1. Glow

Glow features a browser and mobile app that connects you to the Solana blockchain. Glow offers no-added fee swaps with Jupiter, in-app staking, NFT explorer selection, and the ability to burn spam tokens. Glow gives you full control of your crypto. Unlike an exchange like Coinbase, you hold your secret keys. Glow is very easy to use because it has built-in Safari integration, iCloud backups, different wallet integrations, and notifications. 

  1. Atomic Wallet

Atomic Wallet is a multi-chain crypto wallet that supports over 300 cryptocurrencies. Atomic Wallet was founded in 2017 and it minted its own token Atomic Wallet Coin (AWC).  Atomic wallet has a browser extension and mobile app.  Atomic Wallet enables its users to stake its native AWC tokens (along with Tezos, Cosmos, and many more). AWC is widely used in Atomic Wallet ecosystem. Atomic Wallet Token is tradable on Binance DEX, HOO, and IDEX.

  1. Solflare Wallet

Solflare Wallet is a Solana wallet for expert users. Solflare was one of the first Solana wallets created, and it is easy to swap, stake, and send and receive SOL and other SPL tokens. Solflare is a self-custody wallet. Solflare features NFTs collectibles view, as well as a feature to burn spam NFTs.

  1. Solong Wallet

Solong Wallet is a good beginner Solana wallet because it is simple. Solong features a browser extension that is easy to install with Edge and Google Chrome browsers. Solong makes it easy to collect and store Solana coins and make transfers to other wallets. Solong is a good start if you want a simple way to access Solana currency and experience the basic features of Solana.

  1. Phantom Wallet

Phantom is a wallet popoular for its simple design. Phantom enables you to view your NFT collections and send and receive Solana tokens easily. Phantom features detailed staking, which means you can select your validator from a complete list of active validators. Phantom is compatible with most DeFi dapps and NFT marketplaces. Phantom wallet supports Ledger hardware wallets, so you can have the security of a Ledger and the GUI of Phantom.

Solana NFT Wallets 

Most Solana wallets today offer support for Solana NFTs – this includes Avana Wallet, Phantom, Glow and Solfare. Older wallets like Sollet do not have advanced NFT features. Most wallets enable you to view your Solana NFTs in the wallet, as well as send and list your NFTs on popular marketplaces such as Magic Eden.

Features You Need In Your Solana Wallet

The best Solana wallets include the common characteristics listed below. All Solana wallets are designed differently, so you should research each one and find the Solana wallet that matches your preferences.

  1. Native Solana Staking

Most wallets support native staking, but the staking is different wallet to wallet. Some wallets feature liquid staking programs by Marinade Finance and Lido, while other wallets allow you to stake directly with validators. Liquid staking programs offer better security because your funds are diversified and allocated to many different validators. Also, liquid staking programs on Solana do not have the long epoch lockups associated with staking directly with validators.

  1. Native SPL Token Swaps

Swapping is an important part of using the Solana blockchain. You might want to exchange your Solana coins for a stablecoin, or an interesting DeFi protocol. Make sure your wallet has swaps enabled, and look for a wallet that has low fees. Some wallets add fees that can be close to 1% of the total swap value.  

  1. Smooth User Interface & Solana NFT Friendly

You should find a wallet that features a user interface (UI) that is easy to navigate and intuitive for you. Some wallets try to pack many different features and it can become confusing for new and intermediate users. Look at the screenshots of the wallet and make sure that you are comfortable with the layout and design.

  1. Focus on Security

Slope wallet was hacked in August 2022 and more than 8,000 users saw their Solana wallets drained. Total damages amounted to several million dollars. Always choose a Solana wallet that focuses on security and gives you the option to turn off telemetric logging. Slope’s hack was related to telemetric logging that leaked the private keys of Solana wallets.

  1. Ledger Hardware Wallet Compatible

Ledger is the only hardware wallet manufacturer that supports Solana. Hardware wallets protect your Solana wallet from getting hacked or compromised if an intruder has access to your device. This prevents you from losing your Solana tokens and NFTs if malware becomes installed on your computer. You should choose a Solana wallet that is compatible with Ledger so you have the option to use a hardware wallet.