what is the polygon wallet

Polygon is currently one of the hottest blockchains around. They keep partnering with one amazing project after the other. For example, Disney, Starbucks, Meta, or Mercedes. Just to name a few. 

So, if you plan to buy some MATIC, here are some suitable Polygon wallet options to choose from. Check the video below to get up to date about their recent achievements.

What Is a Polygon Wallet?

Polygon does have its own dedicated wallet, the Polygon Wallet. This comes as a mobile or desktop option. It is a blockchain wallet that can store Polygon’s MATIC token. However, you need to run the Polygon Wallet through another wallet. Sounds complicated? Well, it isn’t. For example, you can set up your Polygon Wallet, but you need to connect it to another wallet.

For instance, you can use MetaMask, Trust Wallet, or the Ledger or Trezor hardware wallets. These are all non-custodial wallets. In other words, you control the assets in these wallets. That’s because you control the private keys to these wallets.  

However, you can also use an exchange wallet that offers MATIC. Like Binance, Coinbase, KuCoin, or Crypto.com. Keep in mind that these are custodial wallets. This means that the exchange also controls the keys to your wallet. So, think of what just happened to FTX. This should be the perfect sample of why a non-custodial wallet is a better option.

The Polygon Wallet is now available with a new look. See the picture below. This new version is currently still in beta version. But it’s easy to use and to set up. Once you set up your Polygon Wallet, the only thing left to do is to connect it to another wallet. So, you can choose your preferred wallet.

Polygon wallet

Source: The new Polygon Wallet design

Is Polygon Wallet Safe?

The Polygon Wallet that you can install on your mobile or desktop is safe. However, you want to be careful how you connect with another wallet. So, only use well-known wallets that are secure. Make sure that your MetaMask, Trust Wallet, Ledger, or any other wallet is safe.

Your hardware wallets, like Ledger, Trezor, or SafePal are the most secure options. These are cold storage wallets. To clarify, cold means not connecting to the internet or Wi-Fi. 

On the other hand, there are hot non-custodial wallets like MetaMask or Trust Wallet. In this case, hot means that you must connect this wallet to the internet or W-Fi. To avoid any safety issues, you can make sure that a wallet has the following features. And don’t forget, the more features, the better.

  • Password
  • 2FA
  • Security audits
  • Regular updates

The good news is that your standard wallet is free of charge. Besides cold hardware wallets, all other options should be free of charge. You can easily download and install them.

Which Are the Best Polygon Wallets?

The best Polygon wallets are cold storage hardware wallets. We mentioned a few of them already. For example, Ledger, Trezor, or SafePal. However, D’CENT is another viable option. So, let’s have a look at some of them.

  • Ledger Nano X — This is their flagship wallet. It runs on a desktop or mobile device. It supports well over 5000+ coins. You need to install the Ledger Live app, which helps you to control all your assets and the Nano X. The Nano S Plus is a lighter version. 
  • Trezor T — This wallet supports around 2000 coins. However, it has a touch screen. On the other hand, it’s pricier than the Ledger Nano X. Available for computers and mobile phones.
  • SafePal S1 — A good and cheaper alternative to the above-mentioned options. We just wrote an in-depth article about this wallet.
  • D’CENT — This wallet has built-in fingerprint verification. One of the few biometric wallets. It works for mobile devices. However, recently, they added WalletConnect. This allows access to browsers and desktops.

Currently, the best hot wallet alternatives are MetaMask and Trust Wallet.

Where to Find a Polygon Wallet Address?

The easiest way to find Polygon addresses is on the Polygon scanner. So, this is a Polygon PoS Chain Explorer and works the same as Etherscan. In other words, you can look up transactions and Polygon wallet addresses.

It offers many features, like charts and stats. For example, one of the charts shows the number of unique wallet addresses. Or top accounts, with their total number of MATIC tokens. If you search for your own Polygon address, it shows your balance in the coins you hold at that address. The picture below shows some of the various stats and charts available on the scanner.

Polygon wallet

Source: Polyscanner

This is the first part of our Polygon wallet review. You can read the second part here

The current MATIC price is $0.877739. The market cap is $7.8 billion. The max token supply is 10 billion. 8.8 billion tokens already circulate.

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