- 0.1 What are Cryptocurrency Wallets
- 0.2 Types of Cryptocurrency Wallets
- 0.3 Cryptocurrency Wallets Are Made Up of Key Pairs
- 1 The Best Solana Mobile Wallet
- 2 1). Coin98
- 3 Exodus
- 4 Solflare
- 5 Trust Wallet
- 6 Conclusion
This article describes the best Solana mobile wallet available on Android/iOS devices. Hopefully, you’ll find this article as a useful guide to choosing the best wallet for your Solana asset.
If you are new to cryptocurrencies, you would find our beginners’ guide to cryptocurrency helpful.
What are Cryptocurrency Wallets
A crypto wallet is a device or application that can be used to send, receive, and track ownership of cryptocurrencies. Access to a particular crypto wallet is through a collection of private keys which must be kept secret at all times.
Types of Cryptocurrency Wallets
Crypto wallets take many forms. It could be a file in your computer’s file system, a piece of paper, or a specialized device called a hardware wallet.
Mobile wallets are applications that provide user-friendly storage facilities for cryptocurrenciess on mobile devices.
Cryptocurrency Wallets Are Made Up of Key Pairs
Every cryptocurrency wallet contains a collection of one or more key pairs. A keypair is a securely generated private key and its cryptographically-derived public key.
The public key (pubkey) Is also known as the wallet’s receiving address or simply its address. It may be shared and displayed publicly. Access to the public key does not give one the ability to change anything about a wallet or withdraw any tokens in the wallet.
The private key on the other hand is required to digitally sign any transaction to send cryptocurrencies to another address or to make any changes to a wallet. The private key must never be shared indiscriminately. Access to the private key gives anybody the capacity to withdraw all the tokens the wallet contains. If the private key gets misplaced or forgotten, all tokens that have been sent to that wallet’s address (which is the public key) will be lost permanently.
The Best Solana Mobile Wallet
Generally, mobile wallets are considered handy and easy to use. The right mobile wallet should balance convenience and security.
We will go through their years of release, their Solana-compatible features, the benefits of these features, the apps’ shortcomings towards Solana, and how to secure your wallets.
As of the time of writing this article, they have recorded over 500 million trading volume, over 700 thousand active users, about 50 blockchains on the network, and are in over 150 countries in the world. The company actively maintains a community of users that spreads across 11 languages of the world: English, Vietnamese, Chinese, Korean, Indonesian, Indian, Japanese, Espanol, Russian, Turkish, and Portuguese.
The Coin98 mobile wallet is available for iOS and Android and can be downloaded from the Apple store and Playstore respectively. Once you download the app and sign in, go through this guide Coin 98 provided. It will prove useful in helping you navigate the app.
Features of A Coin98 Mobile Wallet
2). Sends and receives SOL.
3). Supports Multi Chain Swap.
4). The V10.2.0 version supports NFTs on several blockchains including Solana.
5). Improved UI/UX.
6). Supports in-app swapping, staking, borrowing, lending, investing, and earning with cryptocurrencies.
7). Supports Solana Wallet Migration.
8). Supports unwrapping wrapped SOL.
9). Hosts in-app Blockchain Explorers.
10). Integrated with new Blockchains.
11). Supports DApps on OKExChain, GateChain, xDAI Chain, Ronin, Klaytn, KardiaChain, and a wide variety of EVM Blockchains.
12). Allows the adding of Custom Networks.
13) Gas fee optimization.
14). Multi-chain Wallet engine.
15). Portfolio Management.
16). FaceID, Touch ID, and passwords security system.
17). De-Defi Gateway to top AMMs like Uniswap, SushiSwap, PancakeSwap, QuickSwap, SarosSwap, Pangolin, MDEX.
18). Optimized transaction fee and speed.
Benefits of A Coin98 Mobile Wallet
1). You can swap SOL and SPL for other tokens.
2). You get easy access to the NFT marketplace from your app.
3). You get access to numerous Defi services across various blockchains all on the app.
4). You get to access the most popular DApps, on multiple blockchains, without leaving the app.
5). Easy trading experience. You can manage numerous portfolios and keep up with market trends on the app.
6). You can send SPL and SOL tokens to one single Solana address. Typically, SOL and SPL Solana tokens have different addresses, making it hard for users to utilize them. If a user sends SPL tokens to a SOL address, the network will automatically initiate another SPL address instead of directing the SPL to the existing wallet. This process will repeat itself as many times as such a transaction occurs, resulting in multiple SPL wallets in the portfolio.
With Coin98’s Solana Wallet Migration, users can assemble all fragmented assets in many wallets and migrate them into one SPL wallet address after the confirmation of each transaction.
7). You can resolve issues of wrapped SOL in 2 clicks. Tokens get wrapped so they can be embedded in non-compatible blockchains. Once you’re done using them on the blockchain, you can transfer them back to your wallet and unwrap them. Unwrapping wrapped SOL tokens can be a chore. It’s not with Coin98.
8). You have the promise of cheaper transaction fees.
9). You get a secure wallet.
10). The chances of needing another wallet to accommodate new custom tokens are low.
11). You are in full control of your funds. Only keep your private keys and mobile device safe.
Cons of Using A Coin98 Mobile Wallet
1). Coin98 doesn’t provide for stake accounts.
2). Coin98 also doesn’t support Solana NFT projects.
How to Secure Your Coin98 Mobile Wallet
Set Your PIN Code
Once you open the Coin98 app, before you take any action on it, the first popup will notify you to set up your PIN.
Here are the steps you will follow. Click on OK.
Then, set your PIN Code. Only after setting your PIN Code, you can set up your Fingerprint and FaceID. Both are optional.
To change your PIN Code and Biometrics
Keep Your Passphrase and Private Key Safe
Your wallet’s recovery phrase and private key can be used to access your tokens on a different device. You have to keep it safe so you can access your tokens if your device gets damaged or missing.
On Coin98, you get your recovery phrase just before you create a wallet. You would have to write it out immediately.
WARNING: If you don’t save the recovery phrase immediately, it will be gone forever. You will risk losing access to any tokens that will be received in that wallet if your device gets damaged or missing in the future.
To create your wallet and get your recovery phrase and private keys, go to the main page.
Click on Add Wallet.
Type out the name of the asset you need a wallet for. In this case, Solana.
Click on the Done icon so you can see the buttons hidden behind the keyboard.
Click on Create.
Name your wallet. I named mine ” Sample Wallet”.
Next, your wallet address, private key and passphrase will show up. Write them down. Keep it safe.
Copy and paste the passphrase into the empty column. Agree with the 3 statements. Click on Create Wallet.
And you have your Solana wallet.
Note: The steps I have just guided you through do not apply to all tokens. This article is about Solana.
Exodus is renowned to be the world’s leading cryptocurrency wallet. It comes in desktop, hardware, and a mobile app. With Exodus wallet, you can receive, send and exchange SOL and SPL with ease.
It was founded in 2015 by JP Richardson and Daniel Castagnoli. Exodus prides itself in updating its wallets every 2 weeks. So far, they’ve made over 200 updates.
Regarding security, the code of Exodus is managed by JP Richardson. JP has published over 300 open source libraries and has written code used by most cryptocurrency software on the web.
Features of A Exodus Mobile Wallet
1). Hosts a live chart of over 150 million cryptocurrencies.
2). Supports a built-in exchange.
3). Operates an actual 24/7 customer support service.
4). Non-custodial wallet.
5). Impersonal accounts.
6). Advanced security system.
7). Simple user interface.
8). It connects to Trezor.
Benefits of Using A Exodus Mobile Wallet
1). You can monitor market movement in-app.
2). Promotes fast profit trading. You can view the market movement and exchange your cryptocurrencies in two taps.
3). Fast customer support.
4). Anonymous and decentralized transactions.
5). Low risk of theft.
Exodus is decentralized. You don’t get to sign up with any personal details. All you need is your wallet address and the accompanying 12-word recovery phrase.
Once you open the app, this is the first screen you will see. To get your wallet address, click on the circular icon at the bottom. Then, click on any token asset of your choice to get your wallet address.
To get the wallet address and to receive tokens, click on the icon on the right. To send tokens, click on the icon on the left.
Cons of Using The Exodus Mobile Wallet
1). Exodus mobile wallet does not support SOL on the Trezor hardware wallet (the only hardware wallets compatible with Exodus Desktop and mobile apps).
2). Exodus doesn’t support staking of SOL
How to Secure Your Exodus Mobile Wallet
Keep Your 12 Word Recovery Seed Phrase Safe
If you’ve not set your passcode, when someone gains access to your Exodus wallet app, they can access your recovery seed phrase.
Anyone with access to your seed phrase can recreate your Exodus wallet on another device. They would be able to sign transactions and manage your funds from that device without your permission.
To get the seed phrase of your Exodus wallet, follow the following instructions.
Once you’ve installed the Exodus wallet on your mobile device, you will see a page setup similar to the one below. Click on the Options icon.
Click on the Security icon.
Click on Backup.
Click on View Secret Phrase.
Get your secret phrase and the numbers attached to them. Write them out on paper and keep them secret and safe. You will use it to access your wallet on another device or if your device gets damaged or missing.
Set A PIN
Tokens held in any mobile wallet including Exodus are only as secure as the device on which the mobile app is installed. Anyone who can unlock your mobile device can use the Exodus Wallet app and transfer your tokens.
To improve the security of your device and tokens, you should add a PIN to the Exodus Wallet application.
To add an Exodus Wallet PIN, follow the instructions for getting your Recovery phrase. In this case, you will click on Secure with Passcode, not Backup.
After setting your passcode, you will be able to set Biometrics by clicking on Secure with Fingerprint.
The mobile wallet version of Solflare was released in 2021 after numerous demands for it by Solana supporters. Solflare supports the storing and swapping of SOL and SPL tokens. Its best features are that it supports SOL staking and NFT management, with an in-app full-feature NFT gallery.
Solflare is designed solely for the Solana blockchain by developers in the community. $13.93 billion worth of SOL has been staked via Solflare.
Features of the Solflare Mobile Wallet
1). Has an in-app Solana staking platform.
2). Simple user interface.
3). Supports PIN and biometrics for on-device security.
4). Light and Dark Mode.
5). Discord Support Channel.
6). Import Wallet.
7). Non-custodial wallet.
8). Supports Ledger Nano X.
Benefits of Using A Solflare Mobile Wallet
1). It supports staking operations on Solana.
2). It is easy to navigate.
3). You can set it up to be as secure as you want.
4). You can manage several wallets on the app.
5). Only you have access to your funds.
6). You can easily transfer your funds offline to your Solana hardware wallet.
7). The app is super easy to navigate.
7). You can track SOL charts and prices without leaving the app.
Cons of Using A Solflare Mobile Wallet
1). You can’t buy SOL or SPL on the app.
2). No Dapp browser.
3). No exchange.
4). Built for only Solana.
How to Secure Your Solflare Mobile Wallet
Set Up Your PIN
Tokens held in a Solflare mobile wallet are only as secure as the device on which the mobile app is installed.
To improve security on your Solflare wallet, add a PIN to the application. This option is available once you sign up on the app.
To change your Solflare wallet PIN, open the app and go to Settings -> Security -> Change pin.
Set Up Your Biometrics
To set up Biometrics, open the app and go to Settings -> Security -> Biometrics.
Keep the Mnemonic Phrase Safe
Anyone with access to your mnemonic phrase can recreate your Solflare wallet on a different device. From there, they could sign transactions. The mnemonic phrase is displayed when a new wallet is created and it can be viewed at any later time in the app by following these steps:
Go to Setting -> Wallet
The screen below will show up. Click on the Export mnemonic phrase.
Click on SHOW MY MNEMONIC.
Enter your password or use your fingerprint to sign in. This is a measure to secure your account.
Your mnemonic phrase will be shown to you. Keep it safe. You will be able to use it to access your wallet should anything happen to your device.
Keep the Private Key Safe
This process for getting the mnemonic phrase goes for the private key. After clicking on the wallet, click on the Export private key.
Click on Show Private Key. Get it and keep it safe offline.
The first version of Trust wallet was built to create a seamless mobile experience for storing and managing cryptocurrencies. Currently, it also runs on the desktop and supports sending and receiving of Solana tokens.
Launched in November 2017, according to Viktor Radchenko, the founder of Trust Wallet, their vision is three-fold:
1). Give people the freedom to set up a cryptocurrency wallet from anywhere, and in any country with no KYC.
2). Beyond having a crypto wallet, give people the ability to send and receive funds without restrictions.
3). Give people the ability to buy crypto, trade it, and utilize DApps, without geographical restrictions.
At the time of writing this, Trust Wallet supports over 1 million cryptocurrencies and 53 blockchains. The Trust wallet mobile app is available for iOS and Android. It is available for download on Play Store and Apple App Store.
Features of A Trust Mobile Wallet
1). Supports buying of SOL.
2). In-app DApps browser with browser history.
3). Supports exchanges.
4). Supports Token-swap.
5). Supports passcode and biometrics.
6). Auto-lock settings.
7). Price alert notifications.
8) Dark Mode.
9). Compatible with OpenSea.
Benefits of Using A Trust Wallet
1). You can buy SOL with your credit card through the app.
2). Easy access to OpenSea; the largest NFT marketplace.
Cons of Using A Trust Mobile Wallet
1). Trust Wallet does not support stake accounts or any staking operations
2). The buying feature is only available for a few tokens.
How to Secure Your Trust Mobile Wallet
Tokens held in a Trust Wallet are only as secure as the device on which the mobile app is installed.
To improve security, add a PIN to the Trust Wallet application.
To set up a Trust Wallet PIN, open the app and go to Settings -> Security -> Passcode.
Set Up Biometrics
The Trust Wallet app immediately syncs with the existing biometrics on your phone and you can use them to unlock the app.
Set Up Auto-Lock
Depending on your operations in the cryptocurrency space, you can set the Trust Wallet app to Auto-Lock immediately after you leave the app or for as long as 1 minute, 5 minutes, or 5 hours.
Keep Recovery Seed Phrase Safe
When someone gains access to your Trust Wallet app, they can access your recovery seed phrase. Anyone with access to your seed phrase can recreate your Trust wallet on a different device. The seed phrase is displayed when a new wallet is created and it can also be viewed at any later time in the app by following these steps:
Go to Setting -> Wallets
Under the Options menu for a particular wallet. The arrow points to the Options menu.
Tap “Show Recovery Phrase” to get them. Keep it safe. You will be able to use it to access your wallet on any device, should anything happen to your mobile device.
Whether you aim to buy and HODL Solana, stake it or just explore the cheaper gas fees in the NFT space, there’s a wallet for you. Make your pick and start building your portfolio.
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Ovedje Rory is a law student, marketing strategist, content writer, and certified Public Relations officer.