Simple Guide to the Best IOTA Wallets in 2024
This article aims to clear the air around one main role player in the world of IOTA, and that is the wallet. Things with this coin’s nature are a bit different. Its architecture lacks blocks, chain and miners. This next generation public ledger still works with top-notch wallet representatives. The next few lines will show you the best IOTA wallets divided by type. There is also information about the supported coins and compatible operating systems. One major advantage I have presented are the organized tables including review links.
01.The Best IOTA Wallets
Let me start by presenting the top wallets in the crypto world, working in great symbiosis with IOTA coins. The table you are about to explore is divided in a way, that will show the most important aspects for each. You will need a glimpse to differentiate the ones for your OS, or the ones working with other coins as well. This way you will have a more organized overview and the option to read full IOTA wallet reviews. Why not jumping straight to download actions? There is a link to that as well.
| Type | Name | Compatibility | Supported Coins | Features | Get Wallet |
|---|---|---|---|---|---|
| Desktop Wallets | Full Trinity Review |
IOTA Only |
– Official Wallet – Easy Management |
Download | |
| Full GUI Light Review |
IOTA Only |
– Official Wallet – Different setup options |
Download | ||
| Hardware Wallets | Full Ledger Nano S Review |
80+ Coins 1100+ Tokens |
– HD Wallet – SegWit Support – Open source |
See Pricing | |
| Mobile Wallets | Full Guarda Review |
40+ Coins 1000+ Tokens |
– Built-in Exchange – Fiat Gateway – Built-in Asset Swap |
Download | |
| Web Wallets | Full CoinSpot Review |
60+ Coins 60+ Tokens |
– SegWit Support – Fiat Gateway – Built-in Exchange |
Visit Website |
Complete List of IOTA Wallets
If you do not know where to store your IOTA coins, there is plenty of options to choose from. The whole idea behind the table below is to help you make an informed decision without wasting extra time and effort. You can pick by feature or name, taking into consideration the alphabetical order and there you have it, a wallet with a detailed review.
| Name | Type | Compatibility | Supported Coins | Security | Features |
|---|---|---|---|---|---|
| Trinity | Desktop, Mobile |
IOTA Only |
Passphrase |
– Official Wallet – Easy Management |
|
| GUI Light | Desktop |
IOTA only |
Passphrase |
– Official Wallet – Different setup options |
|
| CoinSpot | Web |
60+ Coins 60+ Tokens |
Passphrase |
– SegWit Support – Fiat Gateway – Built-in Exchange |
|
| Guarda | Desktop, Mobile, Web |
40+ Coins 1000+ Tokens |
Passphrase, Pin, Fingerprint |
– Built-in Exchange – Fiat Gateway – Built-in Asset Swap |
|
| Ledger Nano S | Hardware |
80+ Coins 1100+ Tokens |
Passphrase, Pin, 2FA |
– HD Wallet – SegWit Support – Open-source |
|
| Nostalgia | Desktop |
IOTA Only |
Passphrase |
– Recommended by IOTA – Fast access to IOTA |
|
| BitCron | Mobile |
8 Coins 60+ Tokens |
Passphrase, Pin |
– HD Wallet – SegWit Support |
This table serves for presenting all possible scenarios, thus every user can decide upon the best IOTA wallet. There is a bit from everything – mobile wallets for those of you fond of fast and easy to execute transactions, multi-coin ones are perfect for the users deciding on dealing not only with IOTA, web variations are reachable from every spot connected to the internet. Read on for more useful data, helping your choice.
02. Common Features of IOTA Wallets
Even so, security is a top priority. No matter the number of your online assets, they must be managed carefully. The IOTA wallets offer some great features assisting every step you make in the crypto world.
Security and Privacy
One well-performing security feature for most of the IOTA wallets is their HD nature. It helps with spreading your wealth among numerous addresses, which makes the assets real amount impossible to trace. Well, you can store IOTA on some exchanges like CoinSpot, but better stick to the official clients for extra precaution and some more control over your keys. Here is what makes such wallets a necessity:
Passphrase
This is an extra 4- or 8-words security option. Only several IOTA wallets offer the extra password protection (e.g. Ledger Nano S).
Hierarchical Deterministic (HD)
Such wallets offer a system of creating keys from a single starting point a.k.a. a seed. Most of IOTA Wallets are implementing this feature(e.g. Ledger Nano S, Trinity).
Two-Factor Authentication (2FA)
Two of the main IOTA wallets possess this additional security layer – CoinSpot and Ledger Nano S. This feature requests an extra information every time they want to perform an action with the wallet.
Secure IOTA Wallets Тo Consider
Transaction Fee Management
This is what makes IOTA special, there are no fees. The speed of the network transactions increases proportionally to the number of users. In the other blockchain environments is exactly the opposite – the more the participants, the slower the process. Basically, with IOTA the users are doing the proof of work, not the miners. This results in no transaction fees for managing your coins.
03.FAQ
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What is “transition”?
Simply said, moving the IOTAs from your old to your new seed. It is correctly called “transitioning”. You are required to execute such action if you have used IOTA coins before August 9, 2017 and store them in a personal wallet. Such clients are GUI desktop ones and Android for example. In that case, “transition” is a must.
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How is my seed sent to the server?
Every wallet or library supported by the IOTA foundation ensures that the seed will never leave your side. Every essential action like validations and signature generation are done locally, client-side. As such, the seed is never sent to a remote node and you don’t have to worry about any issues connected to security.
04.About IOTA
IOTA is not that widespread cryptocurrency. Its environment is created by only few compatible wallets. An interesting approach here is to build their own network of nodes, where all the coins managed within are pre-mined. It is differently structured, compared to BTC. It uses “Tangle”, referred to as Directed Acyclic Graph. How is that different from maintaining the ledger with Bitcoin? Both the scalability and transaction fee issues are solved by requiring the Sender in a transaction to perform a kind of proof of work which approves two transactions. This way making and validating are combined in one. As a result, the system is fully decentralized. IOTA system is affected only by those, making the transactions (the users). As a contrast, in the BTC network, the miners just enable the system to operate, they don’t actually “use” it.
All that leads to one remarkable network, where the number of active users speeds up the transaction process, not the other way around. This eliminates the need of miners to process anything and this results in an IOTA network without fees.