What is Nami Wallet?

Non-custodial wallets are important. We pointed this out on a variety of occasions recently. There are also many wallets that support a variety of L1 chains. Nami Wallet is such a wallet. It supports the Cardano chain.

In this article, we answer five popular questions about the Nami Wallet. So, let’s have a look. First, you can watch this video which explains how you can create this wallet.

What Is Nami Wallet?

Nami is a browser-based wallet extension. It is non-custodial and works with the Cardano blockchain. This wallet has a few functions, for example;

  • Send and store a variety of assets.
  • Delegate and staking ADA.
  • Mint tokens and NFTs.
  • Use multi-sigs
  • Interact with smart contracts.

There’s one thing that sets Nami apart from other wallets. It’s possible to inject this wallet into a browser context. Now it can connect to any website and interact with their dApps.

The team behind Berry developed and launched this wallet. Berry is the Berrypool, a Cardano stake pool. In Germany, that’s Alessandro Konrad and in Canada, Pascal Lapointe. They are also the creators of one of the early Cardano NFT projects. The still popular Spacebudz project. We already wrote an extensive article about how to use the Nami Wallet.

Nami Wallet

Source: Nami Wallet website

Does Nami Wallet Have an App?

Nami Wallet doesn’t have a mobile app. This wallet only works on browser extensions. These are Chrome, Brave, and Edge. If you click on any of the three icons on their website, it will take you to their browser extension. See the picture above.
Although currently not having a mobile app must be costing them quite a few customers, there is one in the making. 

Does Nami Wallet Works With Ledger?

The Nami Wallet does work with selected hardware wallets. For instance, Ledger and Trezor. You can connect your hardware wallet and use it as extra security. Once you connect your Ledger, the hardware wallet needs to sign any withdrawals.

In contrast to many other hot wallets, like MetaMask, this wallet uses a 24-word seed phrase. Almost all other hot wallets use a 12-word seed phrase. This gives extra security, especially if you hook up your hardware wallet. For a browser extension, this is about as secure as it gets. Once you want to connect your hardware wallet, the screen below shows what you see. Just follow the prompts.

Nami Wallet

Source: Nami Wallet Chrome extension

Is Nami Wallet Safe?

Nami Wallet is as safe as any other non-custodial wallet. We just described an extra security measure. You get that once you hook your hardware wallet onto this wallet. Now the hardware needs to sign any withdrawal.

Another extra safety aspect is the 24-word seed phrase. Few hot wallets have this. To illustrate, most hot wallets have a 12-word seed phrase. This combination makes it the safest Cardano wallet out there.

Nami Wallet for Chrome

Nami Wallet has a Chrome extension. It’s one of the three browsers that this wallet supports. This wallet has already over 200,000 users. A year ago, they just had over 1,000 users. Setting up your Nami wallet on Chrome is easy. 

  • Go to their website.
  • Click on the Chrome logo.
  • This leads you to the Chrome extension page for Nami Wallet.
  • Click install extension.
  • Under the extension logo in the top-right corner of Chrome, look for your Nami Wallet and click on it.
  • Hit the ‘Create new wallet’ button.
  • Write down the 24-word seed phrase. Make sure nobody can see your screen whilst you do this.
  • Hit next once you’re done.
  • On the next page, you’re asked to fill out four random seed words in the correct place. For example, word 3, 8, 12, and 19.
  • You’re done, you can start using your new wallet.

Conclusion

We looked at the Nami Wallet for the Cardano blockchain. It’s only available as a browser extension but is still a popular choice.

We answered five popular questions for you about this Cardano wallet. In a previous article that we linked to, we explained how to use this wallet. Besides sending and storing assets, you can also mint NFTs with this wallet. You can also delegate and stake ADA, ideally in the Berrypool. You will make the two developers happy if you join their pool. 

The ADA price according to CoinGecko is $0.447672. ADA has a market cap of $15 billion. The max supply of ADA is 45 billion, and currently 33.82 billion ADA circulate already.

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