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Three Options To Store Your Cardano [ADA]

For those well-versed in the world of cryptocurrencies, ADA (a currency run by the Cardano platform), is an exciting one to watch for the time being. Although it is quickly becoming a popular option for many looking to invest, the options for storing ADA are limited, particularly as there is only one working wallet for Cardano at present. The following three wallet options may provide some useful guidance to those new to the world of Cardano:

Exchange wallets

First of all, it is important to point out that no one should store large amounts of cryptocurrency in an exchange wallet. For now, however, it is certainly the most convenient option for Cardano, and is a perfectly reasonable option for people who hold small amounts of the currency. If you are looking to store your ADA in an exchange wallet, make sure to take account security very seriously, and enable two-factor authentication for secure sign ins. When looking for a decent exchange to store your currency in, conduct thorough research and find one which enables many layers of security.

Ledger Nano S

The Ledger Nano S is a cryptocurrency hardware wallet with stringent security features and excellent credentials. There is no release date yet as to when Cardano will be integrated into Ledger Nano S, and it is difficult to say when it is likely to hit the market. ADA integration may take a while considering the nascent nature of the currency, but its it certainly something to keep an eye on for those hoping to get involved with Cardano.

Daedalus

Daedalus is currently the only working wallet for Cardano, making it the obvious go-to option for those holding the currency. However, it is only supported by Windows and Mac OS, meaning Linux users are left in the cold. What’s more, lots of people are having issues installing the wallet, and connecting to the network can take some time. For now, however, users may simply have to wait it out for a better option.

Source: https://www.youtube.com/watch?v=AJfAPT_8Yzo

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Robert is a keen investor with a particular interest in cryptocurrencies. He has been involved in the industry for many years, and because of this, has gathered a lot of knowledge surrounding this area. He studied English at university level and has a passion for writing. He loves being able to combine his two mains interests on a daily basis.