IOTA (MIOTA) is a distributed ledger facilitating transactions between machines and physical devices in the Internet of Things (IoT) ecosystem. The IOTA token, MIOTA, is the crypto that helps users settle transactions within the network. Securing and managing your IOTA token in a safe and trustworthy Iota wallet is paramount. But with so many wallets in the market, it can be challenging to determine the best fit for your needs.

Here are the top five IOTA wallets on the market, plus some things to consider when looking for the best IOTA wallet for your portfolio.

Methodology: How did we select the best IOTA wallets?

What to look for when selecting IOTA wallets?

iota wallet miota

IOTA’s network of pre-mined coins is managed within a Directed Acyclic Graph called “Tangle.” Transactions in this system are validated by requiring the sender to perform PoW for two transactions. The IOTA’s Tangle system of full nodes confirms transactions with some serious efficiency. According to IOTA, Tangle requires less energy and is faster than traditional blockchain technologies used in other cryptocurrencies.

Selecting the right IOTA wallet can make all the difference in securing and managing your digital assets portfolio. The most critical factor when selecting an IOTA wallet is security. 

Ensure that the wallet comprises encrypted private keys, two-factor authentication, and other security features to prevent hacks and theft.

A user-friendly and intuitive UI provides convenience and ease of managing your IOTA wallet. Look for a wallet that offers an easy-to-navigate platform. Whether your device is a desktop computer or a mobile device, ensure compatibility with the wallet. Some wallets deploy web-based versions allowing access to your funds from anywhere, provided you have an internet connection. 

As an IOTA user, you want your wallet to have seamless integration with IOTA’s Tangle protocol. Verify that the wallet address you’re considering integrates well with IOTA’s Tangle. Your wallet must have a backup and recovery option in case of lost or damaged physical devices.

What are the best IOTA wallets?

1. Exodus

Exodus Wallet is a non-custodial hot wallet that integrates multiple crypto support of up to 250+ digital assets. The wallet has a built-in partnership with the hardware wallet giant Trezor, allowing users to swap assets seamlessly and store crypto offline.

Features

  • Mobile wallet
  • Desktop wallet
  • Swap
  • Staking
  • Simple interface 
  • Hardware wallets support (Trezor, Ledger Nano S, and X)

Pros

  • A mobile app
  • Convenient and instant trading anytime, anywhere
  • Easy to use
  • Staking pools
  • Educational resources
  • Multi-language

Cons

  • Not open source
  • No multi-signature support
  • No two-factor authentication

2. Ledger

Ledger is a leading hardware wallet manufacturer with devices supporting 5500+ cryptocurrencies. This non-custodial wallet provider offers offline cold storage for private keys. The Ledger Nano X and Ledger Nano S are sister wallets providing an array of features for both beginners and experienced crypto holders. The key differences between the two leading models lie in the weight, screen resolution, and design of the wallets.

Features

  • Large storage
  • IoS, Windows, Linux, and Mac support
  • 2FA, PIN code, seed phrase
  • Mobile app and desktop wallet
  • simple navigation
  • Multi-currency 
  • Staking 

Pros

  • Resourceful content and bots
  • Mobile and desktop wallet 
  • private keys storage offline
  • Ledger is versatile 
  • User-friendly interface and sleek design

Cons

  • More expensive than other hardware offerings
  • The setup process is time-consuming
  • Ledger experienced a significant backlash in May 2023 with the launch of its controversial “Recovery” feature

Don’t wait — get the Ledger wallet today!

3. Firefly Wallet

firefly wallet iota

Firefly replaced the Trinity wallet as the official IOTA wallet. It supports both Ledger Nano S/X hardware wallets. Firefly wallet is a non-custodial wallet with mobile-specific functionality.

Features

  • Open-source
  • Windows, Mac, Linux.
  • Staking and unstaking support

Pros

  • Compatible with Ledger hardware wallets
  • Mobile and desktop wallet
  • Direct trading
  • Multiple currency support
  • Its user-friendly interface favors beginners 
  • Resourceful learning content

Cons

  • No two-factor authentication or multi-signature support

4. SafePal Wallet

SafePal Wallet offers both a mobile app and a hardware wallet that supports 10000+ cryptos and several digital assets. The non-custodial web3 gateway combines a strong security focus with offering DApp access and NFT support.

Features

  • Hardware wallets support
  • Staking feature
  • Integrates browser extensions, including Brave, Chrome, etc.
  • Multiple currency support, including all ERC-20 tokens, BEP2, BEP20, NFTs, TRON, etc
  • NFT support
  • Multi-signature 

Pros

  • Two-factor authentication
  • Support multiple currencies (10000+)
  • Purchases and swaps
  • Ease of use
  • NFTs integration
  • mobile wallet

Cons

  • Plastic device
  • Limited software wallet integration

Get the safe and reliable SafePal wallet today. Shop now!

5. TanglePay IOTA wallet mobile app

tangle pay wallet

TanglePay IOTA wallet is a mobile wallet with the specific purpose of storing MIOTA. The wallet supports the Chrysalis network and gets updated consistently as per the IOTA Foundation’s roadmap.

Features 

  • Open-source
  • Encrypted private keys
  • Very secure and accessible anywhere
  • NFT, DeFi support

Pros

  • A mobile app
  • Convenient and instant trading anytime, anywhere
  • Easy to use

Cons

  • Only available for iPhone.

The best IOTA wallet depends on your personal circumstances

The best IOTA wallet for you will depend on your expertise, specific requirements, and preferences. The Firefly Wallet is a reliable option tailored specifically for managing MIOTA, while Ledger and Safepal are solid cold wallet choices. Regardless of the wallet you choose, always make sure to follow crypto wallet security best practices.

Frequently asked questions

How do I store IOTA?

How do I create an IOTA wallet?

What is a drawback of IOTA?

Who created IOTA?

Is IOTA and MIOTA the same?

🎄Best crypto platforms in Europe | December 2024
eToro eToro Explore
Coinrule Coinrule Explore
Uphold Uphold Explore
Coinbase Coinbase Explore
3Commas 3Commas Explore
🎄Best crypto platforms in Europe | December 2024
eToro eToro Explore
Coinrule Coinrule Explore
Uphold Uphold Explore
Coinbase Coinbase Explore
3Commas 3Commas Explore
🎄Best crypto platforms in Europe | December 2024

Disclaimer

In line with the Trust Project guidelines, the educational content on this website is offered in good faith and for general information purposes only. BeInCrypto prioritizes providing high-quality information, taking the time to research and create informative content for readers. While partners may reward the company with commissions for placements in articles, these commissions do not influence the unbiased, honest, and helpful content creation process. Any action taken by the reader based on this information is strictly at their own risk. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.

Chris-Adede.jpg
Chris Adede
Chris Adede is a versatile professional with five years of experience in content creation, IT, and project management. He has expertise in cryptocurrencies, fintech, and blockchain and has published author work with BeInCrypto, Hanshow, and NFT Monday. A project manager at Smart Prop Trader, Chris holds a number of professional qualifications and a BSC in Information Science from Moi University. Previously, Chris worked as a Digital Marketing Manager at Webnavs, where he honed his skills in...
READ FULL BIO
Sponsored
Sponsored