Zilliqa Wallets: Top 7 Best Places to Store ZIL Safely
Zilliqa (ZIL) is a high performance sharding based blockchain that recently moved from an ERC20 standard to its own native token on its mainnet. That token swap ended on February 15, 2020 and the ERC-20 tokens are now considered to be obsolete. This means that for all of those users who want to store their ZIL securely offline, they will need a native ZIL wallet.
However, which are the best wallets to safely store your ZIL in?
In this post, I will take you through 7 of the top Zilliqa wallets. Not only that, but I will also help you find the wallet that is right for you as well as give you some top tips for storing ZIL.
What To Look For in a ZIL Wallet
A secure and useful Zilliqa wallet comes with a number of features, and users should make sure that whatever wallet they choose for storing their ZIL have these features at a minimum:
- Compatible with native ZIL tokens. Make sure the wallet wasn’t designed only for the ERC-20 version of the ZIL tokens, but that it has the ability to store the native ZIL tokens. This is the most important feature since the ERC-20 ZIL tokens are now obsolete. All the wallets reviewed below have the ability to store native ZIL tokens.
- The wallet should keep the private keys under the control of the user. It is also best if those keys are always kept on the local device that holds the wallet. The private keys are the access point to the ZIL tokens and security here is of utmost importance.
- The wallet should have an active user community, but more importantly it should also have an active developer community. This ensures the wallet is kept up to date and that new features and security enhancements are added regularly.
- Solid security and backup features are also a must. Encryption of passwords, keys and backup phrases is the minimum required.
- Lastly look online for reviews of the wallet and see what others have to say. If the wallet has been around for some time there should be plenty of online reviews that will help you determine how suitable the wallet is for your needs. Other users will let you know their experience with the wallet, which can save you loads of time and potential stress if the wallet turns out to be sub-par.
With all that in mind below are 7 of the best Zilliqa wallet s you can rely upon for storing your native ZIL tokens.
Ledger (Hardware Wallet)
It’s no secret that the most secure type of wallet is a hardware wallet such as the Ledger brand. Ledger is well known and respected as one of the top hardware wallets available. It uses cutting edge encryption techniques to ensure any funds stored in the wallet remain secure.
In the case of Ledger the private keys for your ZIL tokens remain secured in a certified encryption chip and behind a custom made operating system that was designed to repel any type of attacks that cryptocurrency users might encounter.
The Ledger also allows users to store over 1,250 other cryptocurrencies, making it an excellent choice for crypto enthusiasts who probably hold other different tokens besides their Zilliqa.
The entry level Ledger wallet is the Nano S. It set the standard for cryptocurrency hardware wallets, and has seen over 1.5 million units sold since it was first released. The great news for users is that the price of the Ledger Nano S continues dropping, and one can now be had for just $60.
Warning ⚠️: If you are going to be buying a hardware device, be sure to buy it from the official site. Buying hardware devices from third parties is risky as they may have tampered with the device
The Ledger wallet will keep your ZIL safe and secure in offline storage. The only downside at this time is that Zilliqa is not supported on Ledger Live. Instead the Zillet wallet needs to be used, and then can be connected to the Ledger device.
Zillet (Web Wallet)
The Zillet wallet is very similar to the well-known and popular MyEtherWallet. It is both highly secure and private and does not store your private keys or any other data. Users remain in full control of the keys, and Zillet is very clear in its intention to remain both secure and anonymous.
The setup of the wallet is quite straight-forward and the only strong recommendation is to make sure to record the private key and passphrase somewhere safe. These are needed to restore the wallet in the future when necessary. The other benefit of the Zillet wallet is that it can connect to the Ledger hardware wallet for extra security.
Trust Wallet (Mobile Wallet)
The Trust Wallet is a mobile-only wallet that has been growing rapidly after being adopted as the official wallet supported by Binance. Thanks to the huge number of investors and traders at Binance the Trust Wallet saw a huge jump in its number of users as well.
That said, the wallet remains a secure way to store ZIL tokens, and thousands of other tokens as well. It’s this support for such a huge number of tokens that made Trust Wallet the official Binance wallet.
And while mobile wallets aren’t always considered to be the most secure, so long as you follow the usual security procedures you’ll find Trust Wallet to be safe enough for everyday storage of your ZIL tokens.
Another benefit of using the Trust Walet is the ease of downloading, setting up a new wallet, and then sending and receiving ZIL or any of the other coins supported by Trust Wallet. It’s got a clean, easy to use interface that’s never confusing. Plus the development team continues adding new features, security and additional coin support.
The Guarda wallet is a third party wallet that supports Zilliqa. However, the Guarda wallet is a multicurrency wallet that supports up to 10,000 tokens on a number of different chains.
Guarda is a company that is based in Estonia and they are developing a whole host of other crypto related products. They actually also have a financial licence that was issued by the Estonian authorities.
The Guarda wallet is available on desktop and mobile and supports most operating systems. Given that these devices are installed on your PC, you remain in full control of the keys at all time.
Something that you will really appreciate about the Guarda wallet is that you can use an in-built exchange feature to swap your ZIL into another cryptocurrency. This means you don't have to send your crypto to an exchange to swap them.
For those of you who prefer to have the added security of a hardware wallet but prefer to use the Guarda software, you will be happy to know that it is fully compatible. You can store your private keys on the ledger and then use it in order to sign transactions out.
Something else that we liked is that Guarda also supports blockchain domains. This means that you can receive your crypto to a custom crypto address. This is particularly relevant given that you can use .zil addresses for these purposes.
For those of you who would like to earn returns from staking cryptocurrency, you can also do that here with the Guarda wallet. They support staking in a number of different cryptocurrencies such as Tezos (XTZ), Cosmos (ATOM), Tron (TRX) etc.
Finally, when it comes to community support, there appear to be great reviews through a number of online forums, review sites and in the official app stores. Where there are concerns raised, the Guarda team are quick to respond which is great to see.
Math Wallet (Mobile Wallet & Browser Extension)
Math Wallet is more than just a wallet, it is calling itself the “Gateway to the world of blockchain.” It says this because there are a number of features outside the basic wallet usage that can be accessed using Math. In addition to having support for more than 45 different blockchains, the Math application also has a built-in exchange for swapping supported tokens.
Math has also developed some of its own products, such as the Math dApp factory for developers to create great new decentralized applications, and the Math dApp Store, where users can connect with all the great dApps.
In addition there is also Math ID, which is an identity verification system which is supported by a number of blockchains and is intended to do away with the need for passwords by fundamentally changing user authentication methods.
One further product is Math Pay, which gives users the easiest way to accept multiple cryptocurrency payments.
Math has its own blockchain and its own token, which can be used to redeem any of the Math products, and will eventually be used in support of the MathDEX and any other Math products created in the future.
As you might have guessed from the huge list of features Math is trying to become the go-to wallet that allows for a complete blockchain ecosystem experience. It’s a new project so there’s no telling how successful it might become, but for the time being it’s gotten good reviews and appears to be secure.
ZilPay (Browser Extension)
ZilPay is a browser extension that can be used in Chrome, Firefox, Opera, and Brave browsers. It allows for a connection to the Zillqa blockchain without running a full node. Because it is a bridge between the browser and blockchain it simplifies Zilliqa usage and allows users to run Zilliqa apps from right within their browsers.
It’s also possible for developers to integrate smart contract calls and allows the wallet to work directly with dApps. This makes it far easier for developers to work with the Zilliqa blockchain.
ZilPay is an HD wallet, and it remains secure by keeping the private keys stored only within the users own browser. And it is an open source wallet, allowing the community to review the code to ensure it remains secure. It also allows for recommendations for upgrades from the community.
Moonlet (Mobile Wallet, Chrome Extension)
Moonlet is a blockchain agnostic wallet that has support for Zilliqa and a number of other coins. The Zilliqa team has even partnered with Moonlet and participates in the “Bugcrowd”, a bug bounty program that helps to protect Moonlet and other cryptocurrency wallets from potential malware.
The wallet is non-custodial, ensuring users keep full control over their funds. It has an intuitive interface that makes it far easier for most users to manage their accounts.
It is also an open source wallet, maintaining the transparency demanded by blockchain enthusiasts. Moonlet has also recently added support for both the Ledger Nano S and Ledger Nano X, giving users the most secure storage options.
And that is it. My top picks for the best Zilliqa Wallets currently available. Which wallet you choose will depend a lot on your own personal preferences.
You can't really beat the security of a hardware wallet. Keeping your private keys away from a PC is the best way to keep safe. Of course, this security does cost you extra. There is nothing wrong with using one of the free options available.
The second best option has to be the trust wallet. Given that it is chosen by Binance one has to assume that it is one of the best mobile wallets.
Whichever wallet you do decide to get, make sure that you are practicing wallet security 101. Always back up your seed words and store them in safe locations. Don't download any suspicious files in your emails and make sure to keep your antivirus up to date.
Perhaps one of the most important things that you can do to keep your ZIL safe is to avoid telling anybody about it. This makes you less of a target and anyone can get access to your ZIL with a $5 wrench attack.
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Disclaimer: These are the writer’s opinions and should not be considered investment advice. Readers should do their own research.