The Best Wallets to Buy DAI in 2022

Which wallet to opt for is a crucial part of crypto investment. The type of crypto asset goes a long way in determining what wallet to use. DAI coin is a top ERC 20 token of choice to investors. It offers a blend of a high level of DeFi influenced utility with the stability of stablecoins. If you have been wondering where to store DAI, below are the best DAI wallets of 2022. Best DAI Wallets of 2022- 1.   Ledger Nano X Ledger Nano X is one of the most popular DAI wallets. It has a dual accessibility option via either a USB port or Bluetooth. The purchase price ranges at around $165 from the manufacturer’s website’s store. Pros Ledger Nano X offers solid security features for DAI and other supported cryptos. It has an easy to use and navigate user interface. It also has commendable storage space for a hardware wallet, supporting up to 30 different apps. Ledger Nano X has Bluetooth access for more convenience, something that’s not available in other Ledger Nano and most hardware wallet options. Holders of the wallet enjoy perks like community support, made possible by its open-source software. Cons While the storage space is quite large for a cold wallet, it falls short when compared to hot wallets. The added Bluetooth integration feature comes with the detriment of security risks to cybercrimes, albeit very low. 2.   Exodus Exodus is a diverse hot wallet with a web extension and a mobile phone app. The wallet comes with a built-in crypto exchange and closed-source software. Pros Joining Exodus is free. The wallet’s dual availability feature as a mobile app and a web URL extension improves convenience. It also has a built-in exodus crypto exchange. The platform doesn’t charge a transaction fee for receiving crypto as standard, though the customized fee for quicker transactions is available. Its crypto swap feature supports 150 different cryptocurrencies, very convenient as a one-stop-shop for new users. Its ease of use is also very well placed thanks to its very navigable user interface. Users, especially new crypto owners will appreciate its robust customer support. Cons Its closed source software translates to limited features for advanced traders. 3.    ImToken While Exodus is best placed for a beginner in the crypto world, ImToken is an excellent choice for seasoned DAI traders. It has a web URL extension and a hardware wallet option with advanced features for a more personalized trading experience. Pros Seasoned users find the ability to adjust their transaction fee trading aspects very convenient. A higher fee translates to faster transactions. One can utilize its ImKey cold hardware wallet option as a good security deposit for larger sums. The relatively vulnerable but convenient web URL extension wallet option is perfect for the day to day transactions. Traders can opt to integrate their wallets with an exchange. Its Dapp browser supports Dapps from at least 3 different chains. Cons It lacks a 2-factor authentication and may offer some security vulnerability, especially for the web-based wallet form. 4.    Trezor Model T Any list on top DAI wallets would be seen as incomplete without the very secure Trezor Model T wallet. It is the latest version of the Trezor company’s hardware wallets. Pros The wallet is very secure with a perfect attack defence history, conducive to storing large volumes of DAI or any other cryptos. A key security beef-up is its Micro SD based pin encryption ability. Trezor T allows users to directly access third party exchanges like Changelly for easy convenience. It has a web-based user interface and a touch screen, which is an upgrade from the buttons of previous versions. It supports up to 1800 other cryptos aside from DAI. Cons The key drawback of the Trezor Model T is its price. From the manufacturer’s website, one has to part with $316 to acquire the wallet. 5.    Freewallet Freewallet is a diverse group of mobile and web URL extension wallets that support DAI among other crypto options. The hot wallet’s range is one of the most diverse and well packaged in the business. Pros Options are diverse, from a more versatile multi-wallet to a range of 30 different wallets tailored for different cryptos, and to the Freewallet Lite. The latter offers the best of both worlds. Opening a Freewallet wallet and transacting with other Freewallet users are free. Freewallet’s built-in exchange offers a good convenience. There is an option of buying gift cards. One can also buy cryptos using cards. Other more specialized features are always a request away. The tracking of transactions is possible, and so is BIP39 mnemonic phrase conversion via the wallet’s mnemonic converter. Cons While free of any major attack incidents, Freewallet still contains a higher susceptibility to cybercrime than its cold wallet counterparts. Author’s Note No one … Continued

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