Solana's ecosystem grows rapidly, expanding the number of available wallets, each catering to different needs, making it more confusing to choose the perfect option. As a Solana staking provider, we understand the importance of selecting the right wallet for your SOL holdings.
This guide explores some of the top Solana wallets in 2024 to help you find the fit.
What is top Solana wallet?
You may ask yourself this question at some point, especially as SOL’s price has risen more than +1000% over the last year, making your holdings more valuable day by day. Before we delve into specific wallets, let's understand their types.
Hot vs. cold wallets
The categorization of wallets into "hot" and "cold" is fundamental and frequently referenced in all related materials.
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Hot wallets are always connected to the internet, making them convenient for everyday transactions. However, they are more likely to be hacked (as with any other platform where you must log in). Examples of the hot types are mobile wallets, desktop wallets, and web wallets.
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Cold wallets are offline storage like hardware or paper wallets. They are perfect for holding large sums of crypto you’re unwilling to use daily.
Custodial vs. non-custodial wallets
Another way to categorize crypto wallets is to classify them into custodial and non-custodial. This approach focuses on who controls the private keys to your crypto, which is crucial, as private keys grant access and control over your funds.
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Custodial wallets are those where a third-party service holds your private keys. They often have convenient interfaces for beginners and features like one-click transactions, automatic fee handling, etc. However, your funds' security relies solely on the wallet's side, i.e., it can get hacked, and most likely, you won’t be able to do anything. Exchange wallets and online wallets like PayPal are examples of custodial wallets.
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Non-custodial wallets are when you are the only one responsible for managing your private keys. While this gives you greater security and autonomy, you're solely responsible for keeping your keys safe. Software wallets like Exodus and hardware wallets like Ledger are examples of the non-custodial type. These wallets can be highly secure if appropriately handled, offering a significant advantage over custodial options.
To learn more about the advantages of non-custodial crypto solutions, read our dedicated article Custodial vs Non-custodial: Why Negative is Positive.
How to choose the best SOL wallet?
There is no one-size-fits-all solution, but determining your needs will simplify the selection process for your best Solana wallet. Are you a newbie seeking a user-friendly interface, an established pro requiring seamless integration with different platforms, or a security-conscious user prioritizing cold storage?
Here are the main criteria when choosing the crypto wallet:
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Security – the most essential part:
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Be sure to choose wallets with robust encryption algorithms to protect your private keys and transaction data.
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Wallets offering multi-factor authentication provide an extra layer of security, decreasing the risk of unauthorized access.
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Wallets that have undergone security audits by reputable third-party companies are always better.
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Hardware wallets like Ledger and Cool Wallet store your private keys offline, away from potential cyber perils, making them the most secure option by default.
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Features – wallets may include various features; just be sure that the one you finally select supports what you need:
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The first thing to consider is if full support for SOL tokens and interaction with the Solana blockchain are available.
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A user-friendly interface is always nice to have, even if you are an experienced user.
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If you want to earn rewards through staking, make sure to choose a wallet that supports it.
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If you want to manage your funds on the go, look for a wallet with a mobile app.
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If you plan to use DeFi applications built on Solana, choose wallets that support dApps etc.
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Considering these factors, you can narrow your choices and pick the best Solana wallet for your needs. Remember to prioritize security for significant holdings and do your research before choosing a wallet.
Best SOL wallets 2024
To help you avoid analyzing the entire Solana ecosystem and its wallets, we have collected 10 of the best Solana wallets. They meet our most important criteria: they are non-custodial, safe, convenient, and support SOL staking.
Phantom
Phantom is a native and probably the most popular Solana web wallet. It is also available as an extension, offers a user-friendly interface, integrates seamlessly with Solana dApps, and allows staking directly within the wallet.
Features:
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A non-custodial wallet, meaning users have full control of their funds
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Supports multiple chains
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Built-in staking
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Integrates with the largest NFT marketplaces
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Provides detailed transaction history and notifications
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No limits on tokens, balances, and transactions
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Allows connecting Ledger for extra security
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24/7 global support
Solflare
Solflare is the first-ever wallet Solana ecosystem produced and one of the most high-rated ones. Secure and versatile, offering a convenient interface and supporting all core features, it’s a reliable choice for any SOL holder.
Features:
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Non-custodial
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Stores, sends and receives SOL
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Integrated staking
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Interacts with DeFi protocols
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Supports Solana NFTs with full metadata
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Swap function
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Compatible with Ledger devices
Exodus
Exodus isn’t a Solana-exclusive wallet but offers excellent support for SOL and is considered the best wallet for Solana by many. Its availability for desktop, mobile, and web, beautiful design, and intuitive interface make Exodus a compelling choice for those seeking a multi-currency wallet with staking capabilities.
Features:
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Non-custodial
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Allows buying crypto via credit/debit card, bank account, Apple Pay or Google Pay, and selling crypto for fiat, as well as withdrawing funds to the bank account
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Allows crypto swapping
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Integrated staking. On our blog, learn how to stake SOL via the Exodus desktop version, mobile wallet, or Chrome extension.
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Supports NFTs
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Supports 250+ currencies
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24/7 support
Backpack
Backpack is the first wallet built for xNFTs. It also offers secure storage for SOL, allows interaction with Solana dApps directly from your phone, and supports staking. Backpack is a mobile-first wallet that prioritizes convenience and security.
Features:
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Non-custodial
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Supports Solana and Ethereum
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Supports locking for 100+ of the most popular Solana NFT collections
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Built-in staking. Learn how to stake SOL via the Backpack wallet via our dedicated article.
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Allows sending crypto assets
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Supports token swapping
Glow
Glow is a Solana web wallet, also available for mobile to manage assets on the go. It provides an enjoyable design and supports traits like playing games in addition to regular wallet features.
Features:
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Non-custodial
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Supports buying NFTs
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Allows swapping tokens
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Built-in games
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In-app staking
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Features spam token burner
Savl
Savl is a mobile multi-chain wallet with a diverse array of crypto management features. This wallet also provides crypto social media, a news feed, and many more within its interface.
Features:
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Non-custodial
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Supports 250+ assets
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Built-in staking. Learn how to stake Solana in the Savl wallet here.
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Allows creating multiple accounts from a single address
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Supports WalletConnect to access gaming, tokens, NFTs, social, blockchains, finance and more dApps
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Supports selling and withdrawing fiat directly to the bank card
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NFT browser
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Features news feed, crypto social media, direct messaging and more
Ledger
Ledger is a leading hardware wallet provider and a decent option for anyone seeking a Solana cold wallet. Ledger's core product line consists of various hardware wallets like the Ledger Nano S and Nano X, accompanied by the Ledger Live app you install on your computer or phone. Apart from SOL, it supports 5,500+ coins and tokens.
Ledger hardware wallets features:
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Highly-secure cold crypto storing
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5,500+ supported assets
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Comes with a built-in screen and buttons for navigation and confirming transactions directly on the device
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Easy wallet recovery with Ledger Recover
Ledger Live features:
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Allows sending and receiving crypto
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Built-in native staking
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Supports staking via third-party wallets
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Allows swapping crypto
CoolWallet
CoolWallet is a sleek hardware wallet offering secure storage for Solana tokens and other assets but taking a different approach to crypto storage compared to Ledger. First, their flagship CoolWallet S and CoolWallet Pro look like a credit card, making them very convenient to carry around. Secondly, they connect to the smartphone via Bluetooth, allowing you to manage your crypto in the app without an option to take actions directly in its hardware version.
Features:
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Boasts military-grade tamper-proof elements and a secure element chip to protect the private keys
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Bluetooth connection to the dedicated app for crypto management
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Built-in staking (only in CoolWallet Pro)
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Supports trading
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30 supported chains in the Pro version and 14 in the S
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In-app NFT integration with OpenSea and Rarible (only in CoolWallet Pro)
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Integrated Web3 Browser for dApps
Trust Wallet
Trust Wallet is a popular mobile and browser wallet known for its user-friendliness and support for many cryptocurrencies, including SOL. This wallet also allows features for built-in exchange, NFT management and staking.
Features:
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Non-custodial
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Built-in staking
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Allows buying crypto directly via 100+ available fiat currencies
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Token swapping
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Supports 600M+ NFTs
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Allows connecting Ledger hardware wallet for keeping private keys offline
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“Plug and play” network auto-detect feature makes connecting to dApps fast and effortless
Math Wallet
Math Wallet is another multi-chain user-friendly option. You can access it smoothly through mobile, desktop, browser extension, or the Ledger hardware wallet integration.
Features:
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Non-custodial
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186+ public chains supported
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Employs advanced encryption and secure authentication methods
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Supports all types of DeFi dApps
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Integrated staking
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Provides multi-chain gas tracker
Top Solana Wallets Comparison
Over to you
In this article, we have reviewed 10 wallets we view as the best for Solana. Each wallet has its advantages and disadvantages, and now it is your task to choose which one will be your best SOL wallet.
Just remember to evaluate these factors while making your final decision:
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Do your research on the company behind the wallet. Look for positive reviews, check when the software was last updated (the more frequent updates the better), and investigate their security history.
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If you're new to crypto, you'll want a wallet that's easy to use and navigate.
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Solana hardware wallet or software wallet? Remember that the first option is considered more secure but can be more expensive. Software wallets are more convenient but may be more vulnerable to hacking. The choice is yours.
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Consider what features are important to you. If you need to store a small amount of tokens, there is no need to choose a wallet with a bunch of complex features, a news feed, integration with millions of dApps etc. And vice versa!
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