MKR Token Wallets

The MKR token wallets function just like any other crypto wallet that we have previously thought of in our other courses.

As the other main tokens, MKR showed over time that it is one of the best options to procure control over your finances. The ERC 20 token has an important role in the battle against government-controlled fiat currencies and the coin helps you become a party in the valuable Makerdao ecosystem that keeps on growing and evolving. But let’s focus on the MKR token wallets.

Ledger Nano S

Ledger Nano S has a broad usage as a wallet which is manufactured by French company Ledger. It is the most popular hardware wallet and permits you to keep coins offline. Whilst that doesn’t sound like a major plus, the cyberattacks on crypto owners are growing and this type of wallet guarantees your protection. Ledger Nano S looks like a typical USB drive but it includes a tiny screen. It allows for keeping coins offline, preventing various types of cyber threats.

It can be a little confusing at first because every time you want to perform a transaction, you will have to stick it to a computer with a USB port, login, and execute the desired transaction. The wallet comes with a decent price tag attached of about $60 but there are discounts often.

Trezor One

Trezor is considered the main competitor of Ledger. It is based in Prague as a company and they have had one of the most accessible and convenient wallets ever. It is easy to use and it comes in a very unique, minimalistic design.

The company prouds itself with the wallet as its most popular product. The wallet is a little cheaper than the Ledger Nano one and it is compatible with Windows and Mac OS but also Linux. To use it, you will have to plug it into your laptop or desktop computer and connect it to your preferred interface. Trezor One supports Maker MKR and other tokens like Ripple, Bitcoin, Litecoin, and Ethereum. If you have some more money to spend, you can choose the Trezor Model T which is similar to the Trezor one but it comes with a touchscreen that will help you visualize easier.

Trust Wallet

Leaving the hardware wallets behind, the Trust wallet is a popular choice for holding MKR tokens. Something that sets this wallet apart is the number of tokens available. This wallet supports more than 40 blockchains and 160,000 digital assets and most of the coins belong to the ETH blockchain.

If you are an avid crypto trader, this is an option to consider. Crypto exchange Binance owns the Trust Wallet. It has a very simple UI and provides seamless and frictionless operations. Despite supporting so many tokens, the wallet lets you earn a 7% APY on Tezos, Tron, and COsmos.