One of the funny and annoying things in crypto is that you have to have a few wallets to spread your coins around in case something happens. It’s just sensible security. But if you get too deep in certain areas like DeFi or Metaverse or NFTs, and you could end up with 85 different wallets. One of the wallets you should have in your portfolio of wallets is the Terra Station Wallet.
Many of you love and use Metamask. It’s a perfectly good wallet. Others don’t because they don’t use a ton of ETH services or are wary due to the many phishing attempts that occur to Metamask holders. Even here at Altcoin Buzz, we have differing opinions about it. It’s also not an ecosystem wallet although with it or with WalletConnect you can connect to most DeFi apps.
That said, we like the convenience of a browser extension. If you add a multi-purpose wallet to that, then most of us would give that a try. And Terra Station has both. We have a great tutorial on how to set it up and get it ready to use right here on Altcoin Buzz.
Terra Station Wallet Features
As the flagship ecosystem wallet for the Terra Luna chain, this wallet can do a LOT of different things. That’s one of the things we like so much about it. You can do many things all without ever leaving your wallet. You can:
- Stake
- Swap
- Connect through your Browser to all the ecosystem apps
- Buy and Hold your NFTs
- Make Governance Proposals
Stake
Directly within the wallet you can stake and even delegate to an existing validator with ease.
From within this wallet, you can enable liquid staking too. You can go deposit on Anchor and your aUST is still in this wallet that you can lend, use collateral to borrow, or use in some other way to make money while your UST is sitting in the Anchor Protocol. We have a few articles and videos about that. And you don’t have to do anything to enable it. It’s automatic in this wallet.
Swap
Swapping is easy too. You get access to pricing from both TerraSwap and Astroport, the 2 biggest swap apps in the ecosystem.
Browser Connect to All Important Ecosystem Apps
Because it’s native, all the important apps connect to it with ease like:
- Anchor
- Mirror
- Kujira
- Spectrum
- or Astroport (among others)
It just makes it easy.
NFT
You can connect directly from your wallet to 6 different NFT marketplaces and use your wallet to buy and hold those tokens. The Add Tokens feature here let’s you add NFTs you may have bought elsewhere from top collections on Terra Luna and hold them here.
Make Governance Proposals
If you believe in Terra Luna for the future, then you will like that you can both make proposals and vote on them from within your Terra Station wallet. The wallet tells you deposit requirements so you can vote, the voting period, current proposals, and if proposals have been accepted or rejected.
In fact, the only major criticism we have with this wallet is that you can only use it within Terra. But if you like what’s going in with Terra, are long Terra for the future, or love their DeFi apps as I do, then it’s worth it to have this wallet even if you have to have others to manage other chains. The user experience (UX) and total ease of use is second to none in DeFi right now.
Do you use any of LUNA’s DeFi apps? How do you like them and what wallet do you use?
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