Tronis a decentralized entertainment-focused blockchain and content-sharing platform with smart contracts and TRX as its native cryptocurrency. In 2018, the project purchased file sharing service BitTorrent in order to expand its product.
Eventually, Tron’s core technology will be based on the adaptation of IPFS and Ethereum’s platform. In short, what Tron is trying to create is a huge mixture of what is already being done by other projects.
Relatedly, Tron is criticized for plagiarism regarding its white paper. Founder Justin Sun tweeted that the translation was done by volunteers and excused it as carelessness on the part of translators.
The Proof-of-Stake system is used by the Tron network, allowing you to stake Tron and get rewards. You accomplish this by choosing Super Representatives.
Best Tron Wallets
Trezor Wallet – Best Hardware Wallet TRX
Trezor is the world’s first Bitcoin hardware wallet. Presented by SatoshiLabs, a Czech Republic-based company, Trezor has a reputation for providing top-notch security, protecting against both physical and virtual theft. Trezor is a small device with an OLED screen. It connects via a USB to your personal computer or phone.
This crypto wallet is the perfect solution for storing a large number of Bitcoins in order to keep them out of harm’s way, and its fundamental purpose is to store your private keys offline and sign transactions. What Trezor lacks in style, it more than makes up in the security department, and it sets the gold standard for crypto security.
The initial setup of Trezor is a bit different from the Nano S. Here is a full guide and review of the Trezor hardware wallet.
With Trezor, when you first connect it to your PC, it shows a nine-digit pin code on its OLED screen, and you need to enter the same pin code by clicking on your corresponding PC screen. This code is generated randomly every time you connect to Trezor and makes sure that even if your PC is compromised with malware, your private keys will still be safe with Trezor.
You will be asked to write your 24-word recovery seed after entering the pin. Again, your recovery key is the only way to restore your Bitcoins, which means that you need to keep it.
It’s important to note that an additional passphrase can be added to the 24-word seed, which provides extra protection because anyone who finds someone else’s 24-word seed is free to access the funds. If the optional passphrase is added, then an attacker wouldn’t be able to access funds without both the passphrase and the seed. The passphrase cannot be recovered if it is forgotten.
After that, using Trezor is pretty similar to the Ledger.
Trezor supports Tron and many cryptocurrencies, including:
- BTC – Bitcoin
- ETH – Ethereum
- ETC – Ethereum Classic
- DASH – Dash
- ZEC – Zcash
- DOGE – Dogecoin
- LTC – Litecoin
- NMC – Namecoin
Trezor is currently available for OS X (version 10.8 and higher), Windows (version 7 and higher), and Linux. It can also be used with Android devices.
It can be used with apps such as Multibit HD, Mycelium, and TREZOR Wallet.
It costs $99 and is available in 3 colors – black, white, and gray.
Pros: Supports additional wallets and altcoins, easy to use and intuitive interface, extremely secure wallet.
Cons: Expensive relative to its competitor.
Ledger Nano S (Hardware Wallet)
It’s like a USB drive that connects to any USB port and acts as another source of protection. Nano S only starts up when plugged into a computer (or mobile device) because it doesn’t have a battery.
This wallet doesn’t come with an anti-tampering sticker. The reason for that is because its cryptographic procedure checks for the integrity of the instrument when powered on.
The Ledger also comes with two side buttons for confirming transactions and an OLED screen. The Nano S comes at a very competitive price and is one of the cheapest multi-currency hardware wallets. Read our full Ledger Nano S review here.
When you configure your Ledger as a new device, you have to set up your pin code to secure your wallet. After that, note down your 24-word recovery phrase and store it in a safe place. You can use this recovery phrase anytime to restore your Bitcoins.
Users of the Tron wallet have access to the same Ledger Live interface as those with the Nano X. The user interface for Ledger Live is quite well designed, and Ledger Live allows you to see, manage, and conduct transactions with the various cryptocurrency you own. TRX is no different.
The current list of Ledger-supported cryptocurrencies:
- BTC – Bitcoin
- ETH – Ethereum (Wonder what is the best wallet for ethereum? Click here to find out.)
- ETC –Ethereum Classic
- STRAT – Stratis
- DASH– Dash (Read here more about best DASH wallets.)
- ZEC – Zcash (Z-addresses not supported)
- DOGE – Dogecoin
- LTC – Litecoin (Other top LTC wallets are mentioned in this article.)
- XRP – Ripple (other good Ripple wallets)
- XMR – Monero (best Monero wallets)
- almost all other relevant coins in the market.
Pros: Great support, very secure, beginner friendly, competitive price.
Cons: More security = less usability (this is a problem with all cold wallets).
Tron Wallet Chrome (Browser Extension)
The next wallet included on our list is an extension for the Chrome browser, which makes it somewhat similar to the popular Ethereum browser extension MetaMask. If you’re looking for convenience in storing, sending, and receiving TRX, the TRON Chrome extension might be for you.
You can download and install this browser extension in seconds, and it’s pretty simple to use. It might be confusing for those new to cryptocurrencies to use a browser extension like this, but most people get the hang of it within minutes after downloading and installing it.
One of the great features of the TRON Wallet Chrome extension is that all transactions made with it are signed offline, which provides extra security for your coins since the private keys are never transmitted online.
TRON Android Wallet (Mobile)
TRON Foundation officially promotes this wallet and advises people to use it because of its multifunctional feature. It has a viable user interface along with a Tron cold wallet setup, which makes it easy to store and secure TRX coins, which is the main reason why it is a part of the Tron wallets list.
It is a mobile wallet, as the name suggests, which is encrypted by a password, and you can recover the password with a 24-word recovery seed, which makes it even more secure.
This wallet gains popularity as it is the most recommended wallet for android users, and it has decent security features. You can also download the TRON paper wallet from GitHub.
Visit here to get download the TRON Android wallet.
Tron iOS Wallet (Mobile)
If you’re an Apple smartphone user and you want a wallet you can access on the go, this app is officially supported by the TRON Foundation through TRON Loan and is the recommended user wallet for iOS devices. Capable of storing TRX and any other token on the TRON network, this open-source wallet stores your private key locally.
Quick and easy to use, it offers a simple and straightforward interface that you shouldn’t have any trouble navigating. However, if you’re searching for a mobile wallet that will also support other cryptos that aren’t on the TRON network, for example, bitcoin, you’ll need to look elsewhere.
Tronscan Wallet (Web)
The web-based Tronscan Wallet lets you store your assets on the web. However, it is a risky venture, especially when a user forgets his private keys. Aside from the below-the-par user interface, the wallet lets you store your assets without hassles. In addition, transaction histories like previous value transfers can be traced.
Guarda is a cryptocurrency wallet available as Web Wallet, Desktop Wallet (macOS, Windows and Linux), Mobile Wallet (Android + iOS), and a Chrome Extension. You can use the app to store almost all tokens worth having, as Guarda supports 45 different blockchains and over 10k tokens. Among other currencies, Guarda Web Wallet supports Bitcoin, Bitcoin Gold, Ethereum(+ERC20 tokens), Ethereum Classic, Zcash, XMR, etc.
With Guarda, you remain in control of your keys at all times, and your funds cannot be used by anyone else. Like other mobile wallets, the keys to your funds are secured and encrypted on your own device. You use a PIN to access the Guarda app.
Guarda also has a built-in exchange service, so you can buy and trade coins from within the wallet. The wallet also supports staking for some popular chains like Tezos and CLO.
Atomic Wallet (Mobile and Desktop)
Atomic Wallet works as a decentralized wallet platform for custody-free, immutable, cross-chain, and transparent cryptocurrency trading. The trading takes place on the wallet’s decentralized atomic swap exchange. This exchange lets users operate without the need to register and perform annoying and privacy intruding KYC/AML verifications. It also offers its users the ability to trade their tokens in a more classical manner via integrated ShapeShift/Changelly plug-ins.
Atomic can store over 300 cryptocurrencies (including Zcash) and is currently available for Windows, macOS, Ubuntu, Debian, and Fedora operating systems. Android and iOS versions were also launched recently. The project has some serious names like Konstantin Gladych (co-founder and CEO of Changelly.com) and Charlie Shrem (founding member of the BitcoinFoundation) behind it. Some of the wallets features include:
- Intuitive and user-friendly interface
- Impressive cryptocurrency support
- Lets you buy crypto with a credit card
- Atomic swaps and ShapeShift/Changelly trading are available
- Custody free with local data storage
- The 12-word backup phrase that can be exported
- Flexible Market order margin and fast rate update
- Trading history blockchain storage
- Constant development support
Exodus Wallet (Desktop)
Developed by JP Richardson and Daniel Castagnoli, Exodus is a multi-cryptocurrency product that provides a portfolio + exchange + wallet for your digital assets in one package. Looking to spearhead the movement of returning control of people’s assets into their own hands via blockchain, the wallet has seen support from crypto figureheads like ErikVoorhees, Ricardo Spagni, and Roger Ver.
The wallet supports almost 100 cryptocurrencies (including Zcash) with more assets in the pipeline and is available for download on Windows, Linux and Mac. Exodus offers some useful features to its users:
- Well-designed, intuitive user interface suitable for beginners
- Multi-asset wallet
- Interesting color coded, pie chart-like portfolio design
- Quality charting and market tracking tools
- ShapeShift integration
- One-click e-mail restore feature
- 12-word generation phase
- Local data storage
- Community-praised support structure made up of engineers and written/video materials
Interestingly enough, the wallet themselves published an article called “Top 10 reasons to not use Exodus” in which they decided to reveal their shortcomings for the sake of transparency and honesty. You’ll notice there that there are some weaknesses to the project, namely it being a light wallet, not being 100% open source, not being suitable for professional traders and power users, not being present on mobile platforms, and not offering the ability to exchange crypto into fiat. We can also add its lack of 2FA, fees of 1-3% for transactions and a lack of hardware wallet integration to Exodus’ list of negatives.
Trust Wallet (Mobile)
Trust Wallet is a non-custodial and easy-to-use mobile wallet app that allows you to store, receive, and send cryptocurrency tokens on the Ethereum blockchain. It can be downloaded for free directly from the Google Play Store as well as Apple’s App Store.
Trust Wallet supports all significant coins and almost all ERC-20 and ERC-223 tokens such as Ether (ETH), Ethereum Classic (ETC), OmiseGO (OMG), Qtum (QTUM), Binance Coin (BNB), Maker (MKR), Augur(REP), VeChain (VEN), ICON (ICX), Aeternity (AE), 0x (ZRX), Zilliqa (ZIL) and many others.
Notably, for iOS, it is closed source, while for android, it is open source for security reasons. On the security aspect, the Trust wallet does not access information by users.
Private keys are stored locally, and you do not have to pass any KYC information or register an account to use Trust Wallet. The wallet also acts as a mobile web 3.0 browser, so you can use it to interact with all dapps that run on the Ethereum blockchain.
For increased security, you can add multiple layers of security features like biometric marker authentication systems like PIN and fingerprint scanning.
TronWallet is a secure p2p crypto wallet and exchange for TRON users.
TronWallet is officially supported by TRON Foundation through TRON Accelerator and is their recommended wallet.
With TronWallet, you get beautiful UX design without compromising its top-notch security, as you always are in control of your private keys.
You can also make several TronWallets for free and freeze/vote for super representatives using this Tron wallet.
Lastly, this is the only official wallet that is available for both iOS and Android users.
CaptainAltcoin's writers and guest post authors may or may not have a vested interest in any of the mentioned projects and businesses. None of the content on CaptainAltcoin is investment advice nor is it a replacement for advice from a certified financial planner. The views expressed in this article are those of the author and do not necessarily reflect the official policy or position of CaptainAltcoin.com