Choosing The Best Solana Wallet: Top Options Reviewed

Solana recently recorded the highest daily active addresses ever in blockchain history, despite being only the 5th biggest cryptocurrency by market cap.

Those 5 million users, as well as the millions of other Solana wallet owners, all asked at some point, “What is the best Solana wallet for me?”

In this guide, we will answer that same question, looking at criteria for quality wallets, different wallet types, the best Solana wallets on the market, and more.

Let’s go!

How To Choose A Solana Wallet

Choosing the best Solana wallet for you will require considering your biggest needs and priorities. 

For most, the primary considerations will be user experience, wallet security, and device compatibility. 

Beyond that, secondary demands will be xNFT compatibility, accessibility and login options, additional blockchain compatibility, KYC or AML checking requirements, and aesthetic design. 

Important to Remember

• There are two categories of wallet: hot and cold. Hot wallets connect to the internet, like cryptocurrency exchange wallets, while cold wallets are a form of offline storage, such as hardware devices.

• A hot wallet offers greater functionality to users: such as native token swapping, coin staking, xNFTs, and different login options (Web2, SSI, and biometrics). The caveat is that hot wallets carry greater risk, simply by having an internet connection.

• Long-term vs short-term: A common approach to wallet management is to keep long-term investment in cold storage while keeping short-term assets for trading and other immediate activities in a hot wallet for convenience.

Now that you’re armed with this knowledge, you’re better prepared to make a wallet choice.

Types of Solana Wallets

There’s no one-size-fits-all for Solana wallets. Here are some types to look out for:

• Solana-only wallets: these only support SOL and Solana-based tokens (such as meme coins)

• Beginner Solana wallets: these prioritize ease-of-use and user experience (they’re easy!)

• Solana Staking wallets: these present interesting staking opportunities to generate a yield or passive income

• Solana Hardware wallets: these are physical hardware wallets for storing your coins

• Multi-Chain Solana wallets: these offer greater blockchain compatibility, allowing you to swap between networks and access more opportunities

• Solana xNFT wallets: these wallets support xNFTs - Executable Non-Fungible Tokens - a new token standard on Solana

• iOS/Android Solana wallets: these are wallets designed for different mobile operating systems that may offer specific features (such as iCloud backups)

  
  

Top 7 Solana Wallets for 2024

In the following section, we will highlight some of the key aspects of our top 7 Solana wallets.

Providing critical information for beginners, examining ease of use, and mentioning additional functionalities that set them apart from rivals.

Phantom Wallet - Most Popular 

• Estimated 3m+ users

• Simple and intuitive interfaces on both mobile and browser extension wallets

• Can be integrated with hardware wallets such as Ledger

• Allows for native SOL staking within the wallet, with easy tracking and validator information

• With Solana, Ethereum, and Polygon all supported, you can view coins from three chains in one free wallet, with token swapping also available

• Transparent security audits and robust encryption, as well as 2FA and transaction insights

• Easy dApp integration

• Ideal for NFT enthusiasts, with display, listing, and trading options

Even Atomic Wallet, one of Phantom’s rivals, commented,

“Overall the Phantom Wallet is a fantastic piece of software for anyone that wants to manage their SOL tokens through a browser extension wallet”.

Coinbase Wallet - Best For Newbies 

• Much like the Coinbase exchange, the wallet app has a foolproof design that makes it accessible to people of all ages and technical competencies

• Both the browser extension and mobile wallet support 8 different chains (refer to the comparison table)

• The Coinbase Wallet can be seamlessly connected to the Coinbase exchange for smooth crypto purchases and sales

• Coinbase Wallet can be integrated with hardware wallets for offline storage

Startups Magazine says

“Among the best wallets for beginners, Coinbase is our favorite. It is really intuitive and easy to use.”

Solflare - Best Solana Wallet for Android

• One of the first wallets designed specifically for the Solana ecosystem, Solflare is both a mobile wallet and a browser extension wallet

• With a 4.7 rating on the Google Play Store and over 1 million downloads, we believe Solflare is ideal for Android users

• Easy token swapping, NFT management and display, and SOL staking, as well as bridging

• Solflare can be integrated with certain hardware wallets for cold storage

• The use of 24-word mnemonic phrases helps strengthen security

• Solana Pay capabilities, offering businesses fast transactions and low gas fees.

TokenTax explains that Solflare’s

“Multi-platform support and commitment to security, demonstrated by its hardware wallet integration and anti-phishing technology, make it the preferred choice for those who demand versatility.”

Glow - Best Solana Wallet iOS

• Glow’s iOS app allows you to purchase, swap, and sell your Solana assets, as well as offering functionality with Apple’s Keychain tool to retrieve your private keys in case of loss

• Other Apple-specific features include iCloud backups and Safari mobile integration

• SOL staking is smooth and easy to do in the app and browser extension

• While Glow may be Solana-only, it does offer the interesting ability to upload images from your phone and mint them as NFTs

• NFT functionality is applauded, with a beautiful display gallery and the ability to list NFTs directly to Magic Eden and other marketplaces from within the wallet

Soladex.io raved about Glow, stating

“This is what Web3 is all about, and you can tell just by using the app that the Glow team understands the core principals behind Web3. Everything about the app is congruent with decentralization and self custody.”

Backpack Wallet - Best For xNFTs

• Backpack was designed especially for xNFTs, a new Solana token standard that allows developers to create apps that users can add directly to their wallets (much like adding apps to your phone)

• As well as apps, users can play on-chain games and watch videos in the wallet

• It is a typical non-custodial hot wallet, like most of the options in this guide, but it is the only one, so far, with this unique xNFT functionality

• Backpack is available on Chrome and Brave as a browser extension, and as an app on both iOS and android

• Solana and Ethereum are both supported

Bankless says:

“For the security conscious seeking to reduce their dependencies on third parties and avoid malicious frontends, Backpack's xNFTs offer an excellent solution!”

Atomic Wallet - Best For Staking

• Coin staking is available for 26 different tokens, including SOL, which boasts a yearly yield of 7.5%

• With over 5 million users, 500+ coins, and 10+ chains supported, it is a very diverse wallet that is well suited to people who really plan to explore the blockchain in full

• Atomic is available as a desktop client, mobile app, or wallet browser, for ultimate convenience across your devices

• The wallet has a native “Atomic Swap” tool for swapping almost any pair of tokens, as well as its own Decentralized Exchange (DEX)

• We believe this is the best app for staking your SOL for the long run, as it doesn’t offer some of the other exciting features of the Solana-focused tools

Money.com reported that

“Customer satisfaction with Atomic Wallet is mostly positive. Online reviews for the wallet often mention its ease of use and praise its support team’s timely, efficient assistance.”

Torus - Best for that Web2 Feel

• Torus’ Solana-based crypto wallet provides convenient one-click login for certain decentralized exchanges and NFT marketplaces

• In short, Torus makes the Web3 login experience feel much like signing in to Google or Facebook, which makes it more accessible to those less familiar with Web3

• You only need a Gmail account to open a Torus wallet

• There are no seed phrases - account recovery is accomplished the traditional way (email or social verification)

• Torus supports Ethereum, Solana, Polygon, and BSC, giving users a wide range of coins to store, swap, and sell

Torus has a higher level of complexity and comparably higher fees than other options in this guide, so it’s only advised as a recommendation if you really dislike seed phrases and want a Web2 crypto wallet experience.

Final Recommendations

Now that you’ve seen the various types of wallet, as well as some of the market-leading Solana wallet providers, it’s time to think about the next step.

We recommend you ask yourself the following questions:

• Am I a beginner with little experience with Solana assets, dApps, and tools? If so, go for Coinbase Wallet or Torus.

• Am I primarily a mobile user? If so, go for Glow or Soulflare.

• Am I deeply interested in exploring NFTs? Choose Backpack.

• Am I already involved in the world of crypto and want a new wallet that can support my further exploration? Choose Phantom, Atomic, or Coinbase Wallet.

We hope this guide has provided you with the relevant information needed to choose the best Solana wallet for you.