Best Tezos Wallet | Top 16 XTZ Wallets 2019- Hardware, Web, Desktop
Tezos is a smart contract platform, which was designed to reduce cost, save time and make easy transactions. Tezos is the brain child of Arthur and Kathleen Brietman, a young couple who raised a massive sum of $232 million just in its initial coin offering in 2017. The main idea behind Tezos was to develop a platform where all token holders will have the power to make decisions regarding up-gradation an improvement of cryptocurrency codebase. A unique voting system is adopted where a general consensus is achieved through the votes of the token holders and the developers make the necessary changes and improvement in the protocol. There is also a reward system for the voters.
How does it work?
Before going trough the best Tezos wallet list lets have a look on its working. Tezos aims to solve some of the problems that Blockchain has been facing on the Ethereum platform. It is very similar to Ethereum, but there are some distinguishing features. Tezos takes into consideration the “community consensus” protocol where decisions are made based on the votes of the holders without disrupting the network functioning. Tezos has undertaken “on-chain governance” mechanism where democratic decision-making and amendments are followed. The on-chain governance mechanism of Tezos mainly focuses on protocol changes within the system. Here holders give proposals for amendments in protocols. Then the Tezo holders vote on the protocol. If the proposal is accepted, it is implemented on the system. The developers in return get compensated for the acceptance of their proposal.
Another feature of Tezo is the Proof-of-Stake consensus algorithm where the token holders participate in the network and get rewarded for doing so. Easy formal verification system makes Tezo more secure and easy to use. Tezo has introduced smart contract language called the Michelson, a very simple programming language which is easy to understand and can be used by the stakeholders easily.
- Tezos is built as an independent Blockchain and is not a product of Ethereum or any other Blockchain.
- Tezos is based on a three-layer protocol; network, consensus and transaction.
- A Proof-of-Stake consensus algorithm where stakeholders can vote and make changes or upgrade the network.
- The Michelson functional language makes the smart contracts more secure and bug free.
- An incentive-based bounty program for programmers to develop new features and make the system more secure.
- The community consensus system ensures more involvement of the stakeholders and there is scope for continuous improvement in the shape and structure of Tezos.
Exchange Wallet: How to Buy Tezos?
You can use exchange wallets to put your tezos tokens as well. They are similar to online web based wallets. You can also exchnage your tezos to other cryptos on the following exchanges:
Best Tezos Wallets [top 10]
There is a list of wallets supporting XTZ coins. Few wallets have undergone at least one independent external security audit and listed on Tezos official website. These wallets are: Hardware Wallets, Tezbox, Galleon, Kukai and CLI Wallet. Below is the complete and updated list of Tezos Wallet:
Trezor Model T (Hardware Wallet)
The Trezor T, a popular hardware wallet which support a list of cryptocurrencies is now tsarted supporting Tezos (XTZ) as well. Tezos investors who owns a Trezor Model T can interact with the Tezos network with the help of another wallet, for example SimpleStaking, in combination with the Trezor T device. Developers of the TezBox Wallet, also integrated the support for Trezor T Wallet.
Ledger Nano S (HardWare Wallet)
Similar to Trezor, Ledger Nano S, another popular hardware wallet to safely store cryptocurrencies. Tezos holders can now store XTZ coins to their Nano S wallet as developers of the TezBox Wallet, have developed the support for the Ledger S Nano.
- Remember to buy Trezor Model T, as Model One does not support XTZ.
- Latest firmware should be installed on your device.
It is the first of the decentralized functional GUI (Graphical User Interface) Wallet launched by Tezos. TezBox is very user-friendly and stores all your private keys securely in your wallet. It runs on multiple devices and has a simple backup system. The interface is very easy to use and transparent and users can verify and report any problem whenever he wants. TezBox has grown into one of the most widely used wallets and has a wide coverage of users and it operates on all Androids and iPhones. Visit TezBox
Galleon Tezos Wallet (Tezori)
Galleon wallet is a deployment of Tezori. It is an open source wallet framework for Tezos tokens, which supports both hardware and software wallets in eight different languages. Galleon wallet is available for Mac, Windows, and Linux.
Kukai Tezos wallet allow you to create new account and get all your wallet details. But before that, you will have to create or import a wallet. Visit Kukai
Tezos CLI Wallet
CLI wallet is a command line wallet for pro users. It has been undergone at least one independent external security audit and listed on tezos website like the above wallets. Many users prefer using GUI or hardware wallet due to ease of use. Still if you are interested in command prompt wallet, Tezos CLI wallet is for you.
Magnum is a light weight and anonymous web based wallet supporting Bitcoin and more than 700 different cryptos including Tezos. Magnum supports to claim a lot of forks and to gain on the POS consensus by staking. Magnum has a secure wallet supports for popular crypto hardware wallets such as Ledger and Trezor. The encrypted private keys are stored in the browser’s local storage. Link to Magnum Wallet.
Atomic Wallet (Sponsored)
Atomic Wallet is a new multi-assets solution for convenient storage of Tezos. For sure, Atomic can be used not only as XTZ wallet: it currently supports over 300 coins and tokens. Besides, every weekly update adds new crypto assets and features.
Desktop app is available for Windows, MacOS, Ubuntu, Debian and Fedora. Alpha versions of Android and IOS mobile apps will be released in November, 2018.
Full list of Atomic Wallet features:
- Private keys are stored on user’s device and generated from mnemonic.
- Built-in Buy Crypto with credit card option, provided by Simplex
- Weekly updates with new coins, tokens and useful features
- Atomic Swaps option for exchange with low fees
- Custom token feature — you can manually add any ERC20 token in seconds
- Instant exchange via Changelly and Shapeshift
- Instant 24/7-live support
tezos.blue is a superfast light wallet, which allows you to keep your tokens anonymously and securely in the Tezos network. The wallet is currently available in Apple’s beta program TestFlight. The app is available on all operating systems, but doesn’t have a browser interface. Its multilevel encryption system makes the app very secure to use. Visit tezos.blue
Wetez, is secure wallet built on Tezos blockchain. It was released on July 4th. Both Android and iOS version of this wallet are available on the website. Visit WeTez
Guarda is a multicurrency wallet which is currently offering Web Wallet, Desktop Wallet, Mobile Wallet and Chrome Extension. With Guarda wallet, you remain in control of your private keys at all times. Like other web and mobile wallets, the keys to your crypto assets are encrypted and secured on your own device. For extra level of security you can apply a PIN to access the Guarda app. Guarda has a built-in exchange which is the feature I like the most. It allows you to trade coins within the wallet. It supports bitcoin, Monero, Litecoin, and Zcash and many other coins including XTZ. Visit Guarda Wallet
It is a desktop wallet with support for Trezor and currently available in Beta version. You can download it from official website.
Other Tezos Wallet Links:
Cortez: An Android app wallet. Link
TezBridge: Browser wallet. Link
T3wallet: A browser based online wallet. Link
TezWallet is another upcoming Tezos wallet: Link
Remember: These all wallets are recently launched and there is no much review or user experience available to rate these wallets. Out of the above list TexBox seems to be the most reliable and famous Tezos wallet. Please be very sure and careful before using any of them.