Top 3 Polkadot Wallets

Polkadot is a Layer 0 blockchain. In other words, it provides the foundation for other blockchains. They can build their Layer 1 blockchains on Polkadot. We know them as parachains. So, because Polkadot is the foundational layer, it requires dedicated wallets.

So, we are going to have a look at three top Polkadot wallets.

Polkawallet

Polkawallet is our first pick. It is a mobile wallet only, available for iOS and Android phones. It is cross-chain as well. Currently, it supports four chains. For instance, Polkadot, Kusama, Acala, and Karura. It is also a non-custodial wallet. In other words, you are in control of the private key. There are no middlemen involved; you control your digital assets.

It offers a variety of functions. For example:

• Asset handling – Transfer assets in and out of your account. 
• Hot vs cold wallet – You can switch the function of the wallet. The hot wallet connects to the internet. However, it doesn’t have the private keys. With the cold wallet, you can sign offline with a QR code.
• Staking – Validators and nominators can both use the wallet. You can research and analyze validators in detail.
• Governance – Take part in all governance-related votes and proposals.
• Cross-chain  –  Polkawallet connects to public and private chains. Currently, it connects four chains. However, the team will add more chains in the future.

Parity Signer

Parity Signer turns your smartphone into a hardware wallet. How cool is that? Your phone can become an air-gapped crypto wallet. In other words, they are completely disconnected from the internet. But also, from any other form of wireless connection. For example, Bluetooth, Wi-Fi, or USB drives.

In other words, this is about as safe as you can get with a cold hardware wallet. Ideally, you use an old phone for this. Don’t throw it away but reset it to factory settings. Now you can download the Parity Signer app. The next step is to switch your phone into flight mode. What’s more, you just created a brand-new, air-gapped hardware wallet. Here’s a guide on how to do this.

You can sign transactions by scanning QR codes. So, no need to connect to the internet. This way, your private key remains safe. The best thing is that Gavin Wood is behind Parity. Among others, he’s an original founder of Ethereum. He also created Polkadot and Kusama. However, he did step down as Parity CEO in October 2022. 

Updates are also done via an air-gapped way. The updates happen when scanning an animated QR code. In other words, you stay offline. As a result, your private keys remain safe. The picture below shows a sample QR code for signing a transaction.

Source: Parity

Math Wallet

Math Wallet is available for your mobile smartphone and as a browser extension or web wallet. You can also connect it to a hardware wallet. It supports 150 public blockchains. These include stand-alone chains, like, for example, Bitcoin, Solana, Aptos, Near, or Arweave. And lots more. Furthermore, this wallet also supports substrate chains from the Polkadot/Kusama chains. Or how about all EVM chains or the Cosmos IBC hub?

So, let’s have a look at the available options.

• Smartphone – iOS and Android.
• Extensions – Chrome, Brave, Edge, and more.
• Web wallet – Cloud, Bitcoin, Solana, Cosmos, Harmony, and, of course, Polkadot, and more.
• Hardware – Ledger supports the Chrome extension.

It also offers shortcuts to various cool features. For example:

• dApp Store – Find all dApps.
• MathVerse  –  The Math metaverse that comes with NFTs.
• The MathChain  –  A Layer 2 on Substrate.
• MATH token  – Use this to redeem all MATH products.
• The MathVault  – CeFi, DeFi, and staking options.
• MathGas  – A multi-chain gas tracker.

Math Wallet has some impressive backers, for instance, Binance Labs and Fundamental Labs. It is an all-round wallet. However, this wallet can also be slow in loading certain features. Furthermore, you can encounter some glitches or bugs. Watch this video to find out about Math Wallet security.

Conclusion

Polkadot is a Layer 0 blockchain. Other Layer 1 chains build on of this Layer 0 chain. As a result, we need specific wallets. Hence, we discussed the Polkawallet, Parity Signer, and Math Wallet.

The current DOT price is $5.97. DOT’s market cap is $7.2 billion. There’s an infinite supply of DOT tokens. However, the total supply is 1.298 billion, out of which 1.208 billion already circulate.

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