The growing popularity of DeFi (Decentralized Finance) has given rise to a scalable and secure blockchain called Fantom. This network employs Lachesis as its consensus mechanism. Since its launch in 2018, Fantom has supported the creation of thousands of cryptocurrencies and DApps (Decentralized Applications).
To build on Fantom, developers must use the blockchain’s native token, Fantom (FTM), to pay transaction fees. In this article, we will explore nine wallets that anyone can use to store their FTM tokens.
Ledger Nano X
This hardware wallet boasts of offering its users top-notch security by maintaining private keys inside a chip that can only be accessed using a pin code. Launch in 2019, Ledger Nano X is compatible with Mac, Linux, Windows, iOS, and Android devices. The wallet supports over 5,000 cryptocurrencies, including FTM.
Fantom Foundation’s partnership with Ledger enables FTM holders to stake their holdings in the wallet to earn rewards.
Coinbase Wallet
Coinbase Wallet offers hot storage, meaning your assets are stored online. It’s a product of the American-based crypto exchange Coinbase. Coinbase Wallet was designed for Coinbase users that prefer to have total control over their crypto assets. But that does not mean other people as restricted from using it. You can download the wallet as a browser extension or a mobile app. Note that it does not have a desktop app yet.
Coinbase Wallet allows the storage of all Fantom-based tokens, along with Bitcoin and ERC-20 tokens.
OKX Wallet
OKX Wallet gives you the opportunity to put your FTM tokens into use. You can use its Earn product to stake FTM or provide liquidity to various DeFi protocols. Keep in mind that this wallet is a product of the crypto exchange OKX. This means it has a Know-Your-Transaction system that scans scam projects and informs users about them to avoid losing their crypto assets. The downside of OKX Wallet is that it’s not available in many countries, the United States included.
fWallet
This is the native wallet of the Fantom blockchain. With fWallet, you can send, receive, store, and stake your FTM tokens. The multi-address management feature makes fWallet stand out from its rivals. This feature provides users with three wallet addresses; for the main, withdrawal, and deposit accounts. This reduces the risk of losing all your funds in case the wallet is attacked. Note that fWallet is only available as a browser extension.
MetaMask Wallet
This is undoubtedly the most used wallet today. Although users use MetaMask to interact with the Ethereum blockchain, the wallet supports other networks like Fantom. You can add Fantom to MetaMask by visiting the network’s block explorer (ftmscan.com). On the button-right of the homepage, click ‘add Fantom Network,’ then enter your MetaMask password to approve the process.
Trust Wallet
Trust Wallet supports over 50 blockchains, including Fantom. Since being acquired by the world’s largest crypto exchange Binance a few years ago, Trust Wallet has seen massive adoption. Regarding security, the wallet ranks among the top. All transactions are protected with military-grade encryption. Another security feature is biometric identification, which makes it difficult for unauthorized persons to access your wallet.
Exodus Wallet
This multichain wallet is only available as a browser extension. As a non-custodial wallet, Exodus does not store your transaction details. Furthermore, the built-in exchange makes it possible for you to buy Fantom using other cryptocurrencies.
MathWallet
Launched in 2019, MathWallet provides hot storage of crypto assets but also supports the integration of hardware wallets like Wookong Bio and Ledger. Besides Fantom, this wallet lets you interact with over 100 other blockchains. MathWallet is not used for crypto storage only. Its users get to access other services, such as staking and token swapping.
BitKeep Wallet
Launched in 2018, BitKeep has been offering users an easy way to store their crypto assets. It started to support the Fantom network in 2020. You can get the wallet from App Store and Play Store or download it as a browser extension from BitKeep’s official website.
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