Top 4 Best IOTA Wallets Reviewed

The Ledger is one of the two major options for secure storage of cryptocurrencies, the other being the Trezor. The Ledger supports more currencies, and is easier on the pocket than a Trezor, making it suitable even as a mainstay for a fledgling crypto investor. With the announcement of IOTA support in November last year, there is little reason not to use a Ledger to safeguard your MIOTA tokens.

Get Ledger Nano S

Advantages

Welcome to IOTA on Ledger Nano S graphic

Maximum Security

No matter how secure a mobile or a desktop wallet is, it cannot hope to match the formidable fortress that is a hardware wallet. Its state of the art chip is specially designed to be tamper proof, keeping your private keys safe from prying hackers and sabotage alike. Additionally, since a Ledger remains offline, it cannot be taken down like a server for a web based client.

Integrated with Trinity

Usually, the Ledger is only used for long term storage of funds, since day to day transactions can be a bit tedious. For IOTA, however, there is some good news. The newly developed Trinity Wallet comes with seamless integration with the Ledger Nano S, making backing up your tokens in cold storage a breeze, while still allowing you to enjoy the perks of a mobile wallet.

How to Setup

This guide is going to assume that you already possess a Ledger Nano S, and know how to initialize it. Once the initial steps are done with, head over to Ledger Live, and install the IOTA app on it.

The next step is to get hold of Trinity. If you need a detailed guide on setting up and using the wallet, check out our detailed guide.

Follow the instructions on the guide until you reach this step.

How to create an IOTA seed on Ledger Nano S

This is where you connect your Ledger and enter your PIN. The screen should change to reflect this.

IOTA coin setup on Ledger

Now just follow the instructions, selecting an account name and password when prompted. Ultimately, your IOTA account on Ledger would be ready to use.

Complete IOTA setup on Ledger Nano S

The major advantage of going this route is that your Ledger account remains integrated with Trinity. You can use your Trinity wallet as you would normally; the only difference is that your private key is now stored on the hardware wallet, adding another layer of abstraction and security to the already secure Trinity.

Conclusion

To name a single wallet as the de-facto winner would be foolish. Each is a solution for a slightly different use case, with different areas of focus. If ease of use is your metric of choice, go for the GUI Light wallet. On the other hand, if security is your primary concern, the Ledger Nano will serve you well. The Guarda wallet, it goes without saying, is the swiss army knife to tackle the knot of cryptocurrencies with a single stroke.

But all said and done, the Trinity wallet makes for a good choice that ticks all the boxes. By using it in conjunction with a Ledger, you can get the best of both the worlds, without losing anything in the exchange.

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