Best 7 Avalanche (AVAX) Wallets in 2024

With new wallets emerging almost daily, we constructed an informative list of AVAX-compatible wallets and their features. This comprehensive breakdown weighs the pros and cons of each wallet, giving you a clear choice of where you can begin storing your AVAX tokens

Avalanche (AVAX) is a highly scalable Layer 1 blockchain that has made enormous waves in the decentralized finance (DeFi) space since its launch in September 2020. From an $8 price in September 2023, AVAX rallied up to $64 in March 2024 and is now just under $40 in May. AVAX is a rapidly growing ecosystem that showcases impressive versatility, uniting various blockchain networks seamlessly with its interoperability solutions. 

Top 7 Avalanche (AVAX) Wallets

Let’s delve into Benzinga’s top 7 list of AVAX wallets and discuss how they set themselves apart from competitors.

1. Metamask

Metamask is a mainstream hot wallet that is widely used for EVM (ethereum Virtual Machine) compatible cryptocurrencies. Since Avalanche C-Chain is an EVM implementation on AVAX, Metamask is compatible with decentralized applications (dApps) deployed on the C-Chain.

Key Features

• Interface Design: Metamask is ideal for beginners, offering an intuitive interface that maximizes efficiency and simplicity.
• Multi-platform compatible: MetaMask is compatible with multiple browsers including Chrome, Firefox, and Edge. Additionally, MetaMask has a mobile application available for both iOS and Android.
• Custom Network configuration: Metamask allows you to interact with various EVM blockchains including mainnets, testnets, and custom networks like AVAX.

2. Core Wallet

Core Wallet is an all-in-one non-custodial wallet integrating buy, swap, and bridge features smoothly in one place. Developed by Ava Labs, the team behind AVAX, Core also offers features like staking and governance participation.

Key Features

• Staking support: Core simplifies the delegation process, allowing users to stake AVAX for passive income.
• Multi-platform compatible: Core is available as a Chrome extension and a free mobile app, available on the App Store and Google Play.
• Governance participation: Core promotes decentralized by allowing its users to vote on proposals that influence the network’s development and management.

3. Ledger Nano X / S

The Ledger Nano S and X are hardware wallets known for their robust security features and versatile functionality. This wallet stores digital assets offline in a secure element chip to avoid online threats.

Key Features

• Hardware Security: Ledger Nano provides unmatched security via secure element (SE) chips, pin codes, passphrases, and firmware updates 
• Bluetooth Connectivity: The Nano X and S are Bluetooth capable, facilitating wireless connections to the Ledger Live mobile app available on iOS and Android devices. Although Bluetooth introduces wireless connectivity, all critical actions require physical confirmation for secure communication. 
• Multicurrency support: Ledger Nano supports nearly 6,000 different cryptocurrencies including AVAX.

4. Trust Wallet

Trust Wallet is the most popular multi-chain hot wallet on the market. Its focus on multi-asset storage coupled with a sleek interface contributes heavily to Trust Wallet’s mass adoption. 

Key Features

• Interface Design: Trust Wallet offers a cohesive color scheme and customizable settings that create a pleasant user experience. The wallet’s interface minimizes the steps required to perform actions, making it a great pick for beginners.
• Multicurrency support: Trust Wallet provides support to over 65 different blockchains. Users can easily add custom tokens by inputting the token contact address.
• Built-in Web3 browser: Trust Wallet offers a convenient way to connect to and bookmark dApps with its very own secure Web3 browser.

5. OKX Wallet

OKX Wallet is the official wallet offered by OKX, a popular worldwide centralized exchange (CEX). It prioritizes security and sets itself apart from competitors with unique utility.

Key Features

• Built-in DEX: OKX provides a decentralized exchange (DEX) aggregator that searches a wide range of DEXs and cross-chain bridges, finding the user the best price for swaps and bridges.
• Security: OKX utilizes two-factor authentication methods for wallet access and transfers. Additional security features include end-to-end encryption (protects personal data and transaction details from an unauthorized third party) and Multi-Party-Computation (splits the user’s private key into multiple parts and stores them separately)
• Trading features: OKX permits advanced trading features that include real-time market data and customizable trading charts 

6. Tangem 

Tangem Wallet is a credit card-shaped hardware crypto wallet that is the first of its kind. This cold wallet combines NFC (Near Field Communication) technology with EAL6+ security, making Tangem easy to use and shielded against potential threats. 

Key Features

• User-friendly App: Tangem offers a user-friendly app that allows seamless access to asset balances and transaction initiation
• Tamper-proof design: Each Tangem card is sealed and cannot be opened without destroying the device, adding a layer of security
• NFC technology: Users can simply tap the Tangem wallet on their NFC-enabled smartphone to access and manage their digital assets 

7. Atomic Wallet 

Launched in 2017, Atomic Wallet prioritized security and adoption, quickly becoming a top decentralized wallet. Atomic Wallet is well-known for its comprehensive features and user-friendly interface. A unique component of Atomic Wallet 

Key Features

• Multi-platform availability: Atomic Wallet is accessible on multiple platforms including Windows, macOS, Linux, iOS, and Android
• Atomic Swap: Atomic Swap is a built-in swap feature that enables peer-to-peer trading with the use of smart contracts rather than purchasing assets directly from a centralized exchange
• Security: Atomic Wallet leverages Hierarchical Deterministic (HD) technology that generates a new public key for each transaction based on the user's seed phrase to promote anonymity. This makes it harder for third parties to track transactions back to a specific user 

What is Avalanche?

Launched in September 2020, Avalanche (AVAX) is a highly scalable Layer 1 blockchain that has made enormous waves in the decentralized finance (DeFi) space. AVAX is a rapidly growing ecosystem that leverages multifaceted technologies to combat modern-day blockchain issues. This protocol bridges the gap between various blockchain networks seamlessly with interoperability solutions.

Check out Benzinga’s deep dive into the Avalanche (AVAX) ecosystem

Choosing the Best Wallet for Avalanche (AVAX)

Consider these before selecting your preferred AVAX wallet:

• Security: security should be a top priority when storing any crypto wallet. Look for wallets that offer encryption measures such as seed-phrase backups and two-factor-authentication 
• Multicurrency support: to avoid having a wallet for each of your currencies, find a wallet you can use to store all of your favorite digital assets in one place.
• User-Interface (UX): an intuitive design that prioritizes cost and efficiency is essential for user satisfaction
• Reputation and Reviews: look for wallets with a strong track record of reliability, security and customer support.

The Bottom Line 

Finding the right AVAX wallet can be difficult with so many available options. It is important to keep in mind your unique preferences. If you are new to crypto, you should prioritize a simplistic user interface. On the other hand, tech-savvy users may opt for a more complex wallet with additional features. Regardless of your skill level, finding a wallet with a solid reputation that maximizes security and grants multicurrency support is essential.

Frequently Asked Questions