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11 Best Solana Wallets to Store SOL and Trade in 2024

Eliman Dambell
Last updated: | 21 min read

Over the last 12 months, Solana (SOL) has made significant gains in value, rising by nearly 900%, with a new wave of investors buying the token. For owners of this crypto, knowing how to safely store and trade SOL with the right wallet is crucial. In 2024, several wallets stand out for their features, security, and ease of use. This guide highlights the best Solana wallets for different needs, including staking, trading, and managing NFTs.

Whether you’re a seasoned trader or a new investor, finding the right wallet can enhance your Solana experience. From hardware wallets offering robust security to mobile wallets providing easy access, this list covers the best Solana wallet available to you.

List of The Top Solana Wallets


After extensive research, here is our Solana wallet list.

  1. Exodus Wallet – Best Solana wallet for staking SOL known for its safety, reliability, and comprehensive features.
  2. Ellipal Wallet – Best air-gapped cold wallet for managing and storing SOL.
  3. Ledger Wallet – Best hardware wallet for Solana, renowned for its top-notch security and a great way to store SOL offline.
  4. NGRAVE Wallet – New Solana hardware wallet with the highest security certification and high durability with a backup solution.
  5. SafePal Wallet – First Solana air-gapped wallet backed by Binance with a full color, high-resolution screen built for security and portability.
  6. Tangem Wallet – Best SOL wallet with a card-based design that does not require batteries and uses NFC for contactless transactions.
  7. Phantom Wallet – Best Solana NFT wallet with direct access to Solana DeFi and a built-in SOL staking feature.
  8. Solflare Wallet – Best wallet for trading SOL with support for staking and integration with hardware wallets.
  9. Atomic Wallet – Best wallet for Atomic Swaps offering staking capabilities.
  10. Trust Wallet – Best user-friendly wallet known for its simplicity and support for a wide range of cryptocurrencies, including Solana.
  11. Math Wallet – Best multi-chain solution available in both mobile and web versions, making it versatile for Solana users.

Best Wallets for Solana Reviewed


So, what is the best Solana wallet to use this year? Let’s review each of the above wallets in more depth so you can decide which one to use.

1. Exodus Wallet – Best Solana Wallet for Storing and Managing SOL

Known for its visually appealing interface and multi-currency support, Exodus is the best SOL wallet. It provides a seamless and comprehensive experience managing various cryptocurrencies, including Solana.

exodus home

Exodus offers a built-in exchange feature, allowing users to swap between cryptocurrencies easily. Its support for Solana includes NFT management, making it a top choice for users interested in trading SOL and managing their coins and NFT collections.

With desktop and mobile versions, Exodus ensures users can access their assets and manage their portfolios from anywhere, making it versatile and convenient.

Pros

  • User-friendly and visually appealing interface
  • Multi-currency and NFT support
  • Built-in exchange feature

Cons

  • Higher fees compared to some wallets
  • Not open source
  • Limited advanced trading features

What special features does Exodus Wallet have?

  • Cross-platform support (desktop and mobile)
  • Supports staking of SOL and other cryptocurrencies
  • Built-in exchange for seamless swaps

2. Ellipal Wallet – Best Air-Gapped Wallet Solution for SOL

The Ellipal wallet is the best air-gapped Solana crypto wallet that supports over 10,000 coins and tokens.

ellipal home

Forbes has ranked Ellipal as one of the top cold wallets since 2022. Its cold wallets are fully metal-sealed with anti-tamper technology and protected from unauthorized access and malware. Ellipal uses verifiable, public, and offline QR codes, using an open data format to keep your SOL and other cryptocurrencies secure.

Even Ellipa’s firmware updates are offline, protecting the user’s cryptocurrency from cyber hacks. In case of threat, alternative accounts can be set up and accessed via an alternate password. Paired with the Ellipal app, users can sync their wallet addresses with the blockchain.

Pros

  • 100% air-gapped, providing high security from online threats
  • User-friendly touchscreen interface
  • Durable and tamper-resistant design

Cons

  • Limited cryptocurrency support
  • Pricier compared to other competitors
  • Lacking compatibility with other platforms

What special features does Ellipal Wallet have?

  • Uses QR code transactions
  • Firmware updates are performed online for greater security
  • Features a metal mnemonic storage solution

3. Ledger Wallet – Best Hardware Wallet for Solana

Ledger crypto wallets are the best hardware solutions for storing Solana and other crypto assets.

ledger home

Ledger wallets are known for their robust security features, making them the best choice for storing SOL and other cryptocurrencies offline. Their Bluetooth-enabled devices allow for mobile use, providing flexibility without compromising on security. The wallet integrates with Ledger Live, a companion app that simplifies managing your assets.

For those who prioritize security, Ledger Nano X offers unparalleled protection against online threats, making it ideal for the long-term storage of significant crypto holdings.

Pros

  • Secure hardware wallet with its own OS for maximum safety
  • Supports various cryptocurrencies, including SOL
  • Regularly updated firmware for improved security and functionality

Cons

  • More expensive, especially over some software wallets
  • All transactions must be performed physically, which could be inconvenient
  • Not recommended for beginners

What special features does Ledger Wallet have?

  • Secure hardware chip
  • Proprietary operating system for security
  • Integrated with the Ledger Live app for managing and staking SOL

4. NGRAVE Wallet- Best High-Security Wallet

Marketed as the world’s safest hardware wallet, NGRAVE is the best high-security Solana wallet manufactured in Belgium.

ngrave home

NGRAVE’s hardware wallet, ZERO, lets users protect and hold Solana, other cryptocurrencies, and NFTs with the world’s highest security certification, EAL7. The wallet supports over 3,500 coins and tokens. Its air-gapped design features a four-inch color touchscreen with a user-friendly interface.

Using QR codes for transactions, the NGRAVE wallet can be integrated with the LIQUID app to securely manage cryptocurrencies and NFTs without exposing your private keys. NGRAVE also offers GRAPHENE, an extremely durable stainless steel backup that uses graphene plates.

Pros

  • EAL7 certified, offering the highest security available
  • Air-gapped design for full offline safety
  • Highly durable and resistant to damage

Cons

  • Costlier due to its greater security features
  • Complex setup may be challenging for beginners
  • Newer market wallet with limited user feedback

What special features does NGRAVE Wallet have?

  • Easy navigation with a large touchscreen interface
  • Has a graphene backup solution for secure recovery
  • Uses EAL7 industry-leading security

5. SafePal Wallet – Best Binance-backed Wallet

The SafePal S1 wallet is the first hardware wallet backed by Binance that lets users store Solana offline.

safepal home

SafePal supports over 100 blockchains and all their tokens, allowing the wallet holder to store an unlimited amount of cryptocurrencies. New firmware upgrades are constantly pushed so that the latest tokens can be stored. You can easily manage your Solana and other tokens by pairing the SafePal S1 wallet with the SafePal App.

Compared to other hardware wallets, SafePal has a large battery that helps it last longer on a single charge and a 1.3-inch full-color screen. All of this is bundled at a competitive price.

Pros

  • Has an air-gapped wallet with no physical connections
  • Backed by Binance
  • Supports over 100 blockchains and tokens

Cons

  • Not as durable as other hardware wallets
  • Basic security as compared to other air-gapped solutions
  • Less established brand

What special features does SafePal Wallet have?

  • Anti-tampering with its self-destruct function
  • Well-integrated with the SafePal mobile app
  • Compact design with long battery life

6. Tangem Wallet – Best Card-based Wallet

The Tangem wallet is the best card-based Solana wallet for storing, buying, and transferring thousands of crypto assets and tokens.

tangem home

The wallet does not require a battery and is extremely lightweight and portable, the size of a bank card. Security and simplicity are Tangem’s main priorities, as shown by its 3-minute activation time and NFC transactions. Each wallet has an inbuilt chip developed with Samsung Semiconductor for water resistance, counterfeit protection, and durability.

Tangem guarantees that its hardware wallet will remain safe for at least twenty-five years when used properly. Their app is also open source, completely transparent, and free on GitHub.

Pros

  • Portable and lightweight card-based design
  • No battery required
  • Simple setup process

Cons

  • Limited functionality as compared to other hardware wallets
  • Lacks crypto earning and staking capabilities (as of now)
  • Supports fewer cryptocurrencies

What special features does Tangem Wallet have?

  • Secure NFC contactless transactions
  • Highly durable and water-resistant
  • Buy, sell, and swap cryptocurrencies

7. Phantom Wallet – Best Solana NFT Wallet

The best Solana NFT wallet is Phantom, which is widely recognized for its user-friendly interface and comprehensive functionality. At their peak, NFT marketplaces like OpenSea recorded over $2 billion in transactions.

Phantom Wallet Site

The Phantom platform connects directly with Solana’s ecosystem, allowing users to manage their tokens, NFTs, and DeFi activities effortlessly. It offers a seamless experience for holders and investors, especially those interested in NFTs. Its browser extension is easy to install and use, providing quick access to your SOL assets.

With its built-in staking feature, Phantom makes it simple to stake your SOL and earn rewards. This wallet is an excellent choice for both new and experienced Solana users looking to maximize their staking potential. For more information, check out our guide on how to set up a Phantom Wallet.

Pros

  • NFT support
  • User-friendly interface
  • Direct integration with Solana DeFi

Cons

  • Limited to the Solana ecosystem
  • Browser extension only
  • No mobile app (as of now)

What special features does Tangem Wallet have?

  • Built-in staking for SOL
  • Built-in staking feature
  • Integration with Solana DApps

8. Solflare Wallet – Best Wallet for Trading SOL

Solflare is a comprehensive wallet solution designed specifically for Solana users. It offers both web and mobile versions, providing flexibility for different user preferences.

Solflare wallet

Solflare supports staking and has robust security features, including integration with Ledger hardware wallets. For traders, Solflare offers easy access to various Solana-based decentralized exchanges (DEXs), facilitating smooth and efficient trading.

Its intuitive interface and comprehensive features make Solflare a top choice for anyone looking to trade SOL regularly and manage their assets securely.

Pros

  • Supports both web and mobile platforms
  • Integration with Ledger for enhanced security
  • Excellent for trading and staking SOL

Cons

  • Might be overwhelming for beginners
  • Requires Ledger for maximum security
  • Less intuitive than some competitors

What special features does Solflare have?

  • Support for both staking and trading SOL
  • Integration with Ledger hardware wallets
  • User-friendly web and mobile interface

9. Atomic Wallet – Best Wallet for Atomic Swaps

Atomic Wallet is a versatile multi-currency wallet that supports Solana and offers various features such as atomic swaps and staking capabilities.

Atomic platform

Atomic Wallet allows users to manage over 500 different cryptocurrencies in a single interface. Its built-in atomic swap feature enables users to exchange assets without needing a centralized exchange. Additionally, Atomic Wallet supports staking for several coins, including Solana, providing users with the opportunity to earn rewards directly from the wallet.

The wallet’s user-friendly design and wide range of supported assets make it a solid choice for both new and experienced crypto enthusiasts. Find out more in our Atomic Wallet review.

Pros

  • Supports over 500 cryptocurrencies
  • Built-in atomic swaps
  • Staking capabilities

Cons

  • Desktop apps can be resource-intensive
  • Not as secure as hardware wallets
  • Limited customer support

What special features does Atomic Wallet have?

  • Built-in atomic swaps for seamless exchanges
  • Support for staking multiple cryptocurrencies
  • User-friendly interface

10. Trust Wallet – Best User-Friendly Wallet

Trust Wallet is a mobile-friendly wallet known for its simplicity and extensive support for various cryptocurrencies, including Solana.

Trust

Trust Wallet offers a straightforward and intuitive interface, making it easy for users to manage their crypto assets on the go. The wallet supports a wide range of cryptocurrencies and includes a DApp browser for interacting with decentralized applications. Additionally, Trust Wallet provides built-in staking for several coins, allowing users to earn rewards effortlessly.

Its mobile-first approach makes Trust Wallet ideal for users who prefer managing their assets from their smartphones — providing convenience without sacrificing functionality.

Pros

  • Mobile-friendly and easy to use
  • Wide range of supported cryptocurrencies
  • Built-in staking and DApp browser

Cons

  • Limited to mobile devices
  • Less secure than hardware wallets
  • Occasional connectivity issues

What special features does Trust Wallet have?

  • Mobile-first design for ease of use
  • Built-in staking for multiple coins
  • DApp browser integration

11. Math Wallet – Best Multi-Chain Solution

Math Wallet is a versatile wallet that supports multiple blockchains, including Solana, and offers both mobile and web versions.

Math platform

Math Wallet provides robust multi-chain support, making it a versatile option for users who hold assets across different blockchains. The wallet includes a DApp store, allowing users to interact with various decentralized applications directly from the wallet. Additionally, Math Wallet supports hardware wallets for enhanced security.

Its comprehensive features and multi-platform availability make Math Wallet a great choice for users looking to manage their Solana and other crypto assets in one place.

Pros

  • Supports multiple blockchains
  • DApp store integration
  • Hardware wallet support

Cons

  • Can be complex for beginners
  • Requires setup across multiple platforms
  • Limited customer support

What special features does Math Wallet have?

  • Multi-chain support for diverse portfolios
  • Integration with hardware wallets
  • DApp store for easy access to decentralized applications

Now that we’ve answered the question of what is the best Solana wallet, let’s take a closer look at Solana itself.

What is a Solana Wallet?


A Solana wallet is a digital tool that allows users to store, manage, and interact with their Solana (SOL) tokens. These wallets are essential for anyone looking to invest in or trade Solana, as they provide a secure place to hold your assets. Solana wallets come in various forms, including software wallets (web, mobile, and desktop applications) and hardware wallets (physical devices that store cryptocurrencies offline).

Software wallets, such as Exodus and Phantom, are popular for their ease of use and accessibility. These wallets often provide additional functionalities beyond just storage, such as staking, trading, and integration with decentralized applications (DApps). For instance, Exodus offers seamless integration with the Solana ecosystem, making it easy to stake SOL and interact with various DApps. However, these can be susceptible to hacks, as seen in 2022 when 8,000 SOL wallets were targeted.

Solana logo

On the other hand, hardware wallets like the Ledger Nano X offer a higher level of security by storing your private keys offline, away from potential online threats. These wallets are ideal for long-term storage of significant amounts of SOL, as they provide robust protection against hacking and malware.

Hybrid wallets, such as those offered by Math Wallet, combine the benefits of both types by allowing users to store their keys offline while still providing the convenience of a software interface for transactions and DApp interactions. Choosing the right Solana wallet depends on your specific needs, whether it’s ease of use, advanced features, or maximum security.

Comparing The Top 11 Solana Wallets


So, how do the top Solana wallets compare to one another? Let’s look at this below using a table.

Wallet Type Security Features User Friendliness Integration with DeFi and dApps Additional Functionality
Exodus Software High Good for beginners Excellent Staking, NFTs, Exchange
Ellipal Hardware Very High Intermediate Excellent QR code, dApp, Staking
Ledger Hardware Very High Advanced investors Limited Staking
NGRAVE Hardware Very High Advanced investors Good Backup solution, NFTs
SafePal Hardware High Intermediate Excellent QR code, dApp, NFTs
Tangem Hardware Very High Intermediate Limited NFC, Exchange
Phantom Software High Good for beginners Excellent Staking, NFTs, In-wallet Trading
Solflare Software High Good for beginners Excellent Staking, NFTs
Math Wallet Hybrid High Advanced investors Good Staking, NFTs, In-wallet Trading
Atomic Wallet Software High Intermediate Good Staking
Trust Wallet Software High Intermediate Good Staking, NFTs

Methodology: How We Ranked The Best Solana Wallets


Now that we’ve established our ranking, you may be wondering how we came about the order. Below are the key aspects we have taken into consideration.

Security Features – 25%

  • Secure private key storage: When choosing a wallet, you must ensure that private keys are stored securely, often in a manner that prevents unauthorized access.
  • Encryption methods: Deploy robust encryption techniques to protect sensitive data and transactions within the wallet.
  • Multi-factor authentication: Wallets that support multi-factor authentication add an extra layer of security, making it harder for unauthorized users to gain access to your crypto.

Ease of Use – 25%

  • User-friendly interface: Generally, wallets with an intuitive and easy-to-navigate interface are crucial for both beginners and advanced users. This makes it simple for you to use and store your Solana tokens.
  • Simple setup process: The wallet you choose should offer a straightforward setup process that allows you to start using it without unnecessary complications.
  • Accessibility on multiple devices: Cross-platform availability ensures that you can access your wallets from various devices, including desktops and mobile phones.

Integration with DeFi and dApps – 20%

  • Compatibility with Solana-based DeFi platforms: The wallet should seamlessly connect with popular Solana-based DeFi platforms to enable easy access to all the tokens within the ecosystem.
  • Support for dApp interactions: Effective interaction with decentralized applications (DApps) is vital for you to leverage the full potential of the Solana network.
  • Easy connectivity to various DeFi services: The wallet should offer hassle-free connectivity to various DeFi services, making it convenient for you to engage in lending, borrowing, and trading.

Additional Functionality – 15%

  • In-wallet trading: The availability of built-in trading features allows for you to trade directly within the wallet without needing external exchanges.
  • Staking: Options for staking SOL directly within the wallet enable you to earn rewards and contribute to the network’s security and efficiency.
  • Support for NFTs: The ability to manage, buy, and sell NFTs within the wallet adds a significant utility for those interested in the growing NFT market.

Reputation in Crypto Community – 15%

  • Positive user reviews: High ratings and positive feedback from investors indicate reliability and satisfaction with the wallet.
  • Recognition in the crypto industry: Industry awards, recognitions, and endorsements from reputable sources validate the wallet’s credibility and performance.
  • Active community engagement: A wallet with an active and supportive community fosters a better user experience and ongoing improvements through feedback and collaboration.

How to Choose a Solana Wallet: 3 Things to Consider


Okay, so when you are choosing a Solana wallet, it’s essential to consider your specific needs, experience level, and desired features. The best wallet for you will depend on how you plan to use it and what you value most in a crypto wallet. Here are three key factors to keep in mind:

Storage vs Active Trading

Should your primary goal be to store Solana for the long term, security should be your top priority. As such, using hardware wallets could be in your best interest. Here are the main options for hardware wallet:

  • Ellipal
  • Ledger Nano X
  • NGRAVE
  • SafePal

These are often the best choice for this purpose. These wallets store your private keys offline, making them immune to online hacks and malware. They are designed to be highly secure and are ideal for “cold storage” of large amounts of cryptocurrency.

On the other hand, if you are actively trading Solana and need frequent access to your funds, a software wallet or a mobile wallet might be more suitable. Below are some good options.

  • Exodus
  • Phantom
  • Solflare

Software wallets offer greater convenience and faster transaction capabilities, making it easier to manage and trade your assets on the go.

Beginner vs Advanced

Your experience level within cryptocurrencies should significantly influence your choice of which Solana wallet to use. Beginners might benefit from wallets with simple, user-friendly interfaces that aren’t filled with advanced features. Wallets like Exodus are designed with ease of use in mind, offering a clean interface and straightforward setup process. They often include educational resources and support to help new users get started.

Advanced users, on the other hand, might prefer wallets that offer more sophisticated tools, such as custom transaction fees, integration with multiple blockchains, and advanced security settings. Ellipal and SafePal, for example, provide extensive functionality that can cater to the needs of more experienced cryptocurrency users who require greater control and customization.

Appeal of Additional Features

Different wallets offer various additional features that can enhance your overall experience. For instance, if you’re interested in earning rewards through staking, you should look for wallets that support staking directly within the app, such as Exodus or Ellipal.

In-wallet trading is another valuable feature, allowing you to buy and sell Solana and other cryptocurrencies without needing to transfer funds to an external exchange. Exodus and SafePal are good examples of wallets that provide this functionality. Furthermore, if you’re engaged in NFTs, having a wallet with robust NFT support is important.

Exodus and NGRAVE both offer features for managing and trading NFTs directly within the wallet, providing a seamless experience for NFT enthusiasts. When choosing a wallet, consider which of these additional features aligns with your crypto activities and goals.

Conclusion


Ultimately, choosing the right Solana wallet will depend on your specific needs, whether it’s security, ease of use, integration with DeFi platforms, or additional functionalities like staking and NFT support. Hardware wallets like Ledger Nano X offer the best security for long-term storage, while software wallets like Exodus and Ellipal are excellent for active trading and DeFi interactions.

Ultimately, your choice should align with your crypto usage patterns and preferences to ensure a seamless and secure experience.

FAQs

What is the best hardware Solana wallet?

One of the best hardware Solana wallets is the Ledger Nano X, known for its high security and robust protection.

What is the best software Solana Wallet?

The best software Solana wallet is Exodus, praised for its ease of use and comprehensive feature set.

What is the top Solana wallet for trading?

The top Solana wallet for trading is Exodus, due to its user-friendly interface and seamless DeFi integration.

Is Exodus Wallet the best Solana wallet?

Yes, Exodus Wallet is widely regarded as the best Solana wallet for its overall usability, features, and community support.

How do you get a Solana wallet?

You can get a Solana wallet by downloading and setting up a wallet app like Exodus or purchasing a hardware wallet like Ledger Nano X from their official websites.

References

  1. Solana value rises by 3x in one month (CNBC)
  2. Hackers steal millions of SOL from crypto wallets (CNBC)
  3. Biggest NFT marketplace records over $2 billion in transactions (Bloomberg)

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