Want to store your MKR tokens securely?
You are in the right place. We have listed some of the best MKR wallets to help you secure MKR tokens. And why not keep MKR safely, when it is one of the costliest cryptos out there.
At the time of writing MKR is trading at:
Check out some of the reliable MakerDAO wallets:
Best MakerDAO (MKR) Wallets
| MakerDAO (MKR) Wallets | Wallets |
|
MakerDAO (MKR) Hardware Wallets
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Ledger Nano X [Recommended] |
| Ledger Nano S | |
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MakerDAO (MKR) Android & iOS Wallet Apps
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Trust Wallet |
| Exodus | |
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MakerDAO (MKR) Desktop Wallets
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Exodus |
| MakerDAO (MKR) Web Wallets | MyEtherWallet |
#1. Ledger Nano X
Are you looking for something that will store your MKR coins safely for eternity? Well, you should look at the Ledger Nano X.
It is a new hardware device launched by Ledger SAS in 2019, and Ledger SAS is a pioneer in digit asset security since 2015. This time they have upped their hardware wallet game by introducing Ledger Nano X. Which I think is quickly going to become the most used hardware wallet in the industry.
That’s because it is a future-ready device with Bluetooth and a battery on it. These two features make it a mobile device that you can easily connect with iOS and Android devices on the go.
Apart from that, it is the best device to have as it allows you to control your seed and private keys in a secure manner. Also, Nano X is capable of storing 1000+ other cryptocurrencies, including MKR, which could be a bonus for multi-currency users. To know more about the wallet, check this review of Ledger Nano X.
#2. Ledger Nano S
The precursor to Ledger Nano X is Ledger Nano S– one of the most sought-after hardware wallets for the long-term safety of your cryptocurrencies.
Ledger Nano S offers the same security and is developed by the same company. It is just that; it has fewer features as compared to Nano X.
Nano S lacks Bluetooth and a battery, which makes it harder to be used with mobile devices. However, you can connect your Android devices with an OTG, but there is no such feature for iOS users.
Also, Nano S can only handle ten currencies at a time, whereas Nano X can handle upto 100 coins, which is a good feature to have if you are a multi-currency user. To know more about the wallet, check this review of Ledger Nano S.
#3. MyEtherWallet
MyEtherWallet is a trendy web wallet that has continued to serve the Ethereum ecosystem from the very early days.
This time also, MyEtherWallet can be used to secure your MKR tokens, which are ERC20 tokens. Just make sure you are going to the correct web page of MyEtherWallet to avoid phishing attacks.
MyEtherWallet is a non-custodial wallet that gives you the JSON keystore file or the seed to secure the cryptocurrencies yourself.
I have been using MyEtherWallet from my early days in crypto and still have kept some Ether/ERC20 tokens on it. However, I don’t remember the password now.
So you don’t make the same mistake and make sure to back up your seed & password securely.
Lastly, if you want to use hardware wallets like Ledger Nano S or Ledger Nano X with MyEtherWallet, it is pretty easy as well as secure to do so.
#4. Trust Wallet
Trust Wallet is a wallet to be trusted.
Trust wallet was born in 2017, and I have been following their development since the early days. Recently, Trust got acquired by Binance in 2018, and after that their development has just taken off.
Trust wallet no supports 50+ cryptocurrencies and almost all ERC20 tokens including MKR coins. Trust is also my go-to mobile wallet nowadays for storing small amounts of crypto.
Being an HD wallet that is a non-custodial Trust wallet gives you that extra peace of mind which you would not get by storing your cryptocurrencies on exchanges.
So make sure to check out Trust wallet as it is available for all iOS and Android users to store their MKR tokens.
#5. Exodus
Anyone who has been in crypto for some time must have heard about the best crypto desktop wallet, i.e., Exodus.
Exodus has been my companion since 2016, and I still remember the first Bitcoin that I stored on it. Since then Exodus has grown leaps and bounds to support 100+ cryptocurrencies including MKR coins.
It is a very intuitive wallet with the best UI for a desktop you will ever find. Additionally, they have not compromised anywhere on security due to their simple design.
The wallet is an HD wallet where you get the seed or private keys of your funds. Keep this very secure, as losing this would mean losing everything you have stored on Exodus.
As of now, Exodus is available for Mac, Windows, and Linux. Their iOS and Android version are also out, but I haven’t got the chance to look into it.
Conclusion
MakerDAO is a smart contract platform on Ethereum, which keeps the price of DAI tokens in check via the concept of a dynamic system of Collateralized Debt Positions (CDP).
It is decentralized, and MKR holders are responsible for taking the necessary action to stabilize the price of DAI, and the MKR holders have other rights of voting.
Make sure; you keep your MKR tokens safe to continue enjoying these benefits. And if you are looking for a single recommendation of wallets, go for Ledger Nano X only as each MKR token is quite some worth !!
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