A crypto wallet is essential for storing and trading NFTs and interacting with NFT markets. Similarly, to use the specially designed NFT WAX blockchain and explore the NFT collections on it, you will need a WAX wallet.
In this article, we have selected the WAX wallets available on the market according to their reliability and compatibility. Also, you will get to know the popular NFTs and games on the WAX blockchain.
What is WAX Blockchain and why is it known as “The King of NFT”?
The Worldwide Asset eXchange (WAX) blockchain is a specially designed NFT blockchain to provide a faster, safer, and more intuitive way to create, buy, sell, and trade virtual (NFT) and physical items around the world.
WAX is faster and more energy efficient than many PoS and PoW blockchains thanks to its Delegated Proof-of-Stake (DPoS) consensus model.
Compared to Ethereum, the WAX blockchain consumes a whopping 222,000 times less power.
WAX has become the most proven Web 3 ecosystem as brands can launch NFT collections, play-to-win games, dApps, DEXs, and NFT marketplaces. It offers a set of tools and documentation for brands to build on the WAX blockchain.
As of July 2022, DappRadar reports that WAX had a 42% market share in the GameFi space amid the bear market.
WAX was founded by William Quigley and Jonathan Yantis in 2017. William Quigley is a venture capitalist and cryptocurrency and blockchain investor.
He was the first institutional investor in PayPal and is also a co-founder of many transformative crypto companies, including Tether.
Jonathan Yantis is an early Bitcoin miner and blockchain investor. The duo is also behind OPSkins, the world’s largest marketplace for trading digital items.
Top 4 WAX NFT Wallets
The WAX blockchain is undoubtedly home to many popular play-to-win NFT projects, including Alien Worlds, Farmers World, Age of Farming, and Million on Mars.
Among the many successful NFT projects on WAX, Age of Farming and Million on Mars are the two NFT games that have seen recent growth of 126% and 426% in monthly transactions, respectively.
Wax is expected to revolutionize V-commerce with its nFT vIRL.
Top 4 WAX NFT Wallets
- Wax Cloud Wallet
- wombat wallet
- Anchor Purse
- ledger portfolio
Wax Cloud Wallet
Wax Cloud Wallet is a WAX product. It acts as a gateway to the WAX NFT and WAX dApps markets.
Since this is an NFT-focused wallet, NFT collectors and blockchain players can easily buy, collect and sell NFT WAX on wax Cloud Wallet.
Users can also store and exchange WAX tokens in their Wax Cloud Wallet.
It has an intuitive user interface and provides quick access with a one-click login. No need to memorize semi phrases/retrieve sentences.
Creating the WAX cloud wallet account is also very simple, and you can login with social media platforms, such as Meta (formerly Facebook), Twitter, TALK, VK, Discord, Reddit, LINE, and other platforms, such as Twitch and STEAM .
WAX Cloud Wallet build does not include private key backup like other blockchain wallets, such as MetaMask, Phantom, Coinbase Wallet, Trust Wallet, etc.
Upon successful creation of your WAX Cloud Wallet, you will be awarded a WCW badge, an NFT Wax Badge Membership. For this, you will be charged 5 WAXP / $5 USD during the wallet creation process.
- No need to back up the seed/recovery phrase
- Simple, secure and provides instant access to all NFT and DeFi WAX ecosystems
- Cross-platform support: Since it is a cloud wallet, it can be used on Windows, macOS, Android, and iOS
- Since you have to retrieve data from the cloud, it is sometimes slow
- There is no access to the private key. Therefore, it is not possible to import an existing WAX account to another wallet.
The Wombat wallet is a custodial wallet and is considered the home of NFT gaming. Unlike other custodial wallets in the crypto world, you don’t have to remember or worry about safe handling of recovery phrases.
Because the Wombat wallet itself provides encrypted backups for your private keys using Google Drive or Dropbox.
The best part of wombat Wallet is the suggestion of a price for your TNPs.
Wombat is a multi-chain wallet that supports WAX, EOS, Telos, and Ethereum.
With Wombat Wallet, you can access NFT marketplaces such as AtomicHub, NeftyBlocks, SimpleMarket, and OpenSea.
Apart from managing NFT, you can send/receive tokens to/from EOS, WAX or Telos accounts or Ethereum addresses. You can also buy and exchange tokens within the wallet.
Wombat Wallet also includes a social login option like WAX Cloud Wallet.
- Cross-platform support: iOS and Android.
- It has the Google Chrome extension.
- Access to private keys is limited to paying users
- No support for Ledger hardware wallet
Anchor Wallet is an open source custodial wallet. A secure wallet allows users to have control over their private keys. It was previously known as eos-voter and Greymass Wallet.
Just like the Wombat wallet, the Anchor wallet is also a multi-chain wallet. Anchor Wallet is compatible with EOSIO chains, such as Wax, EOS and Proton chains.
Each Anchor Wallet account holder will get a limited number of free transactions if they use Fuel, a Greymass project.
- Support for all EOSIO-based blockchains
- Cross-platform support: Windows, macOS, Linux, iOS and Android
- free transactions
- Ledger hardware wallet support
- Not user-friendly interface
Ledger Wallet is one of the popular hardware wallets that stores cryptocurrencies and NFTs offline.
Hardware wallets are more secure than hot wallets and cloud wallets as they do not connect to the internet.
Although there are many hardware wallets available in the market, ledger Wallet is the one that is compatible with many of the WAX NFT markets and dApps.
- highly secure
- Cross-Blockchain Support: One Device for All Blockchain Assets
- Instant connection is missing as you need to connect your device every time you want to interact with WAX dApps
All 4 WAX wallets mentioned above can be used to store and trade FFT WAX. You can choose the wallet according to your needs.
If you want to have an NFT gaming experience, please choose wax Cloud Wallet or Wombat Wallet.
If you prefer security over faster access, you can choose the Ledger Hardware wallet.