LINK is an Ethereum-based ERC-20 token native to the Chainlink blockchain. With its steady growth, high market capitalization, and overall popularity, it is only natural for people to take an interest in it. However, to safely store your crypto Chainlink gains, you will need a secure wallet. That’s where the Changelly team comes in, with the overview of the best Chainlink wallets of 2020. So, let’s strap in and get ready for the ride.
Briefly on Chainlink (LINK) Cryptocurrency
But before we start on wallets, we need to know what exactly Chainlink (LINK) is. Chainlink was first launched in September 2017, with a goal to become a smart contract medium between various blockchains and platforms. To make this bridge work, the team behind the Chainlink introduced LINK — an ERC-20 token that users would be able to employ in order to seal the deal and enforce said contracts. Since smart contracts are an incredibly flexible feature, it soon attracted the attention of both crypto enthusiasts and investors. Thus, began the ascension of Chainlink to the list of popular cryptocurrencies.
Due to how popular (and potentially profitable) Chainlink is, many developers include it to the list of supported coins and tokens or even create Chainlink-specific wallets. Let’s take a look at our list of the most popular LINK wallets on the market.
#1. Ledger Nano S/X
One of the most popular (if not THE most popular) brand of hardware wallets, Ledger Nano, couldn’t miss out on adapting their hardware to store Chainlink. Ledger Nano Chainlink wallets are secure, reliable, and support multiple cryptocurrencies, so there is no need to switch wallets if you need to store more than one asset. And, since it is a hardware wallet, its security is probably the most prominent feature of the wallet. You can take it off the grid at any time, making it almost impossible for hackers to steal your assets.
All of that makes Ledger Nano wallets very popular among traders and crypto enthusiasts alike.
MyEtherWallet (or MEW, for short) is an open-source Ethereum-specific wallet. In addition to ETH, MEW supports all ERC-20 tokens, which, of course, includes Chainlink (LINK) as well. Strictly speaking, MEW is a platform that supports multiple wallets: it allows you to generate your own Ethereum wallet and it has its own iOS and Android mobile wallets. It also provides software for hardware wallets like Ledger Nano and Trezor. So when talking about MEW Wallet, we are talking about the mobile wallet first and foremost.
As MEW is a mobile Chainlink wallet, it is easy to access it at any time. At the same time, it is a non-custodial platform, meaning that only you have access to your assets and none of your information is recorded. As such, it is a good choice for people who work with the LINK token on a regular basis.
#3. Coinbase Wallet
Another mobile Chainlink wallet, Coinbase provides multicurrency support (BTC, ETH, ERC-20 tokens, BCH, ETC, and a few more of the most popular coins). It allows its users to quickly access their assets and generate more wallets for different cryptos on the fly. Next to it, is that users can send crypto payments via the app anywhere in the world, as well as store their keys on Google Drive. Take note, that while this makes it easier for you to access your account, it also makes it more vulnerable to hacker attacks, especially if they get access to your Google Account.
Still, it is a good wallet for people who need to have their crypto on hand and easily accessible.
#4. Trezor Wallet
Another hardware Chainlink wallet on the list, Trezor, offers a variety of models to crypto users. With each new model, developers add more to the hardware and the interface, making it more accessible to every user while keeping the high level of security. Trezor also offers multicurrency support, with more than 1000 coins and tokens available for storage. Of course, the LINK token is included.
A good choice for anyone who appreciates the security of their assets.
#5. Coinomi Wallet
A cross-platform Chainlink wallet, Coinomi dispenses with specialization, deciding to work on every available platform: mobile and desktop (Windows, Mac, and Linux). That alone would attract a lot of people who prefer to use multiple devices to manage their crypto. However, this is not the only upside of this platform. Coinomi also has formidable security, zero transaction fees, and multicurrency support, bringing its users a lot of Quality of Life features. All of that makes this Chainlink wallet a good choice for anyone who works with crypto.
Another cross-platform wallet, imToken, features both the multichain mobile and hardware wallets. This way, users can choose what platform will suit them best: the less accessible but more secure hardware imKey, or an easy-to-manage but more vulnerable imToken, and plan accordingly. Even better, it also has a built-in crypto exchange, allowing users to change their crypto as needed.
#7. Trust Wallet
One of the most secure hot wallets on the market, Trust Wallet is known and, well, trusted, by the crypto community, trustless as it is. Aside from security, it focuses on privacy, being a non-custodial type of a wallet. Recently, Trust Wallet also expanded in the DApp browser market, creating their own and integrating it with a few more DApps. This, as well as its own exchange and marketplace, make it a great wallet for people wanting to dabble in the Ethereum trading.
A web and mobile wallet, MetaMask allows its users to be flexible on the storage and the access of their assets. They can manage their accounts either on their browsers or on their mobile devices. This provides a platform that has the same functionality as desktop wallets while remaining as accessible as mobile wallets. Traders and crypto enthusiasts both are sure to appreciate that.
If you are interested in buying or exchanging Chainlink (LINK), you can always quickly do that via our widget, right here.
And that concludes our overview of the best Chainlink wallets and their pros and cons. Now, you will be able to choose a place (or places) where you can safely store your hard-earned LINKs while you choose how to use them next. Stay tuned for more crypto security and wallet-related articles!