5 Best Solana Wallets: There's Torus, Phantom, and Glow!

Bittime - Solana is currently the seventh largest cryptocurrency with a market capitalization of over $17 billion. The project was positioned as Ethereum's biggest competitor and was even called an “Ethereum killer” by many at its peak because it offered fast transaction speeds and low gas fees.

Since January 2023, Solana's Total Value Locked (TVL) has increased from approximately $210 million to over $430 million. With Solana's popularity continuing to rise, especially with new developments in the blockchain, more and more users are looking for the best Solana wallets to store their assets on the blockchain. Choosing a good wallet is essential for safely storing and managing SOL.

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What is Solana Wallet?

Solana wallet or dSolana wallet is a cryptocurrency wallet designed to store and transfer Solana (SOL) tokens. Most of them even support DeFi activities on Solana, such as swapping, bridging, and staking. There are two main types of wallets for storing SOL and other cryptocurrencies: hardware wallets and software wallets.

Hardware wallet: A physical wallet that is not always connected to the internet and offers a more secure way to store the private keys of your Solana assets, protecting against malware.
Software wallet: These wallets take the form of apps and browser extensions that usually stay connected to the internet and offer convenience and ease of access when connecting to dApps.

In this article, we will discuss the five best Solana wallets based on security, ease of use, and accessibility. So, whether you want a hardware wallet for higher security or a software wallet for easy access, this article will help you choose the option that suits your needs.

1. Torus – Web2 Experience for Solana

Source: Torus

Torus is a Solana-based crypto wallet that launched in 2019 and provides one-click login for web3 platforms such as decentralized exchanges and NFT marketplaces. Torus allows users to access a decentralized ecosystem through familiar web2 login flows, such as logging in with Google, Facebook, and Discord.

Torus Key Features:

• Login using a Gmail account, eliminating the need for complicated seed phrases.

• Standard account recovery system that allows users to regain access to their accounts via email or social login.

• Supports multiple blockchains, including Ethereum, Solana, Polygon, and BSC.

• Torus Key Infrastructure (TKI) for social login security.

2. Phantom – Multi-Chain Wallet Optimized for Solana

Source: Phantom

Phantom is a user-friendly Solana wallet, launched in 2021, allowing you to buy, send, receive, and store crypto tokens. Phantom also serves as a portal to store your favorite Solana NFTs.

Phantom Key Features:

• Makes it easy to connect with many Solana dApps and NFT marketplaces.

• Supports SOL staking to earn staking rewards.

• Supports Ethereum and Polygon in addition to Solana.

• The app is available in the Play Store and App Store, as well as extensions for popular web browsers.

3. Solflare – Secure and Easy to Use Wallet for Solana

Source: Solflare

Solflare is one of the first wallets designed for the Solana ecosystem. This wallet has similar functionality to Phantom, including token swapping, NFT storage, and integration with Ledger for better security.

Solflare Key Features:

• Users can manage investment assets through the interface that will come with the Solrise investment platform.

• Supports Solana Pay for fast transactions with low gas fees.

• Available as a mobile app and browser extension.

4. Backpack – Solana Wallet that Supports xNFTs

Source: Backpack

Backpack is a wallet that supports xNFTs, a new standard token on Solana that allows adding executable code in NFTs. This wallet was launched in 2022 by Blue Coral Inc, the company behind the Mad Lads NFT collection.

Backpack Main Features:

• Supports rich token-gated experiences, such as gaming and video within the wallet using xNFTs.

• Supports Solana and Ethereum.

• The app is available on iOS and Android, as well as extensions for browsers like Chrome and Brave.

5. Glow – Burn Tokens and Earn Solana

Source: Glow

Glow is a self-custody wallet for Solana that launched in 2020. It allows buying, exchanging, and selling Solana-based digital assets, as well as staking SOL.

Glow Key Features:

• Uses Apple Keychain security feature to protect wallet keys.

• Supports uploading media from mobile cameras and minting as NFTs.

• The app is available on Google Play and the App Store, as well as web versions for popular browsers.

Choosing the right Solana wallet is essential for security and convenience in managing your assets. From the Web2 login experience offered by Torus to the innovative xNFT support from Backpack, each wallet has its own unique advantages. Make sure to consider your features and needs when choosing the best Solana wallet for you.

How to Buy Crypto on Bittime

You can buy and sell crypto assets easily and safely via Bittime. Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti. 

To be able to buy crypto assets on Bittime, make sure you have registered and completed identity verification. Apart from that, also ensure you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application. Study Complete Guide How to Buy Crypto on Bittime. 

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