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Best Aptos Wallets: Where to store you Aptos Coin?
Aptos project was officially released last month which mentioned its focus to be on the safety, scalability and upgradability of Web3 infrastructure. It is just a revived blockchain project from Meta’s web3 project which was abandoned. The most interesting feature of this project is its use of a new programming language called Move, a novel smart contract language.
What is Aptos?
Aptos is an L1 blockchain with high speed. For our naive readers let me decode the L1 blockchain. L1 blockchain or Layer 1 blockchain eventually means a base network, often referred to as the mainnet. In simple words, a Layer 1 blockchain is a blockchain which processes and finish all the transaction on its own network.
What does Aptos network do?
Coming back to the Aptos Network, it provides an infrastructure for dApps to process and complete all the transactions on the Aptos Blockchain. The project and coin launch of Aptos were seen as a great event and this project is seen to have the potential to overpower all its competitors available in the market. The features mentioned in its white paper are oriented to connect web3 to the masses which includes the different technologies used in it to make it more varied. For example, the programming language used focuses on security and allows developers to build more protected software. Also, the Aptos data model provides features like flexible key management. There are many such technical aspects which make this project a special one. Mentioning one more interesting fact about the same project, Aptos is a Proof-of-Stake blockchain and hence it can promise more than 1.5 lakh transactions per second.
Funds Raised by Aptos
Started as Aptos Lab by Mo Shaikh and Avery Ching, it raised 200 Million USD in its seed round in which major market players like Andreessen Horowitz, Tiger Global, Multicoin Capital, etc. participated. After the seed round in March 2022, it again attracted investors in July and received round A funding worth 150 Million USD, which was led by SBF and his companies. Again in September, it received a planned investment from Binance Labs which made it a 4 Billion Dollar company in September 2022.
What are the dApps building on Aptos?
There are many dApps built on Aptos blockchain busting the market with a potential of 150,000 tps. It has suited developers of all kinds and hence almost all the sectors of web3 have some renowned projects based on Aptos. For example
- NFT Marketplaces:
- BlueMove Marketplace
- Topaz NFT Marketplace
- Souffl3
- Wallets:
- Pontem Network
- Fewcha Wallet
- Martian Wallet
- DeFi:
- Vial Protocol
- Aptin Finance
- Mobius
- Frameworks:
- Aptos Name Service
- Move Name Service
- Launchpad
- AptosLaunch
Types of Aptos Wallet
There are two types of Aptos wallet where you can store Aptos coin and Atpos NFTs. They are:
Custodial Aptos Wallet
Custodial Aptos Wallets are 3rd party wallets, where the private key is not held you you. A prime example of such wallet is any exchange wallet. You can store your Aptos on any cryptocurrency exchange that has listed Aptos, but if the exchange goes bust, you may lose your coin. FTX wallet was also a custodial Aptos wallet, and many who store their Aptos on FTX is not not able to withdraw their coin.
Non-custodial Aptos Wallet
Non-custodial Aptos wallets are those, whose private keys are held by you. You are in control of your keys, and hence the coin. You need to keep your private keys safely. If you lose your private keys, you will lose access to your Aptos, forever.
Which are the Best Aptos Wallets?
Like I said, you need Aptos wallet to store Aptos coin and ecosystem coins.
Aptos launched its native token in October 2022. It opened at a markable price which was about 13 USD but with a volume worth 57 Million USD. Soon it dropped and never saw the opening heights again. Today it is trading just below 4 USD per APT.
It has a market cap of 571 Million USD and if the maximum supply of APT is circulated in the market, which is around 130 Million tokens, the market cap would be more than 4 Billion USD.
Some of the best Aptos wallets are:
Petra: Official Aptos Wallet
Type: Chrome Extension
Built on Aptos Labs, Petra is a browser extension for Aptos. It acts as an interface between the user and Aptos blockchain. Users can also mint and view NFTs and avail of all other benefits available on Aldos Blockchain. Users can store and trade their assets using this extension. Petra has more than 3,00,000 downloads.
Martian Wallet: Best Self Custody Aptos wallet
Type: Chrome Extension
Martian wallet is the best self custodial Aptos wallet. Not just Aptos, you can store all cryptocurrencies that are using Move language to build their projects. It is also available as a Chrome and iOS extension. It also allows users to store, access, manage and trade in various assets. The seed phrase is not stored on the Martian server. Due to its ability to mint NFTs directly to the blockchain, it has more than 5,00,000 users on Chrome.
Trust Wallet: Best Multichain Wallet
Type: Browser extension, Android app, iOS app
Officially owned by Binance labs, it is one of the biggest multichain wallets which support the Aptos blockchain. It is also available as a browser extension and as a mobile application on iOS and Android. This is an open-source product and is available for free. Best part using Trust wallet to store Aptos ecosystem coins is that you do not need to download multiple wallets for different cryptocurrencies.
Pontem Wallet
Type: Chrome extension
Claiming itself as the gateway to the Aptos ecosystem, it is a browser extension on Pontem Network. Having a strong community of more than 100k, it supports various features like sending, and receiving tokens and also allows to navigate through any dApps available on the Aptos blockchain. It has currently more than 187,000 downloads.
Fletch Aptos Wallet
Fletch gives a DeFi wallet based on Aptos which is fully decentralized. Users can manage assets like NFTs and tokens. It is available as a browser extension as well as a mobile application on Android and iOS. It has more than 10,000 download on play store. This is comparatively a new Aptos wallet.
There are also available many other wallets such as Spika Wallet, ComingChat, ONTO Wallet, ComingChat, FoxWallet, etc.
Binance Wallet
Binance is a custodial wallet for Aptos blockchain. You can store you Aptos coin on Binance wallet. This is the only exchange wallet I can recommend. You should go with Binance as a custodial wallet, only if you are not good with keeping private keys safe.
FAQs
Can someone store APT on Binance wallet?
Yes, users can use the Binance wallet to store APT and trade in different crypto assets as well.
How to buy APT?
- Users need to create a user account on a platform that supports APT and Aptos assets
- Choose the method of transaction which could be either a credit card, debit card, peer-to-peer trading or third-party payment
- Confirm your order based on the current market rates
- Store and trade in APT with your selected wallet.
We recommend Binance and Kucoin to buy APT
Does hardware devices support APT?
Major names in the hardware wallet industry such as Ledger do not support APT at this point in time but will adopt the token and blockchain soon.
How can Aptos promise high TPS?
Generally, blockchains work on the parallel execution engine which ensures a speed of around 14-20 tps like in ETH blockchain. But Aptos uses Block-STM(Software Transactional Memory) engine which scales up the TPS as high as 150000.
Can you store Aptos on Metamask?
As of now, you can’t store APTOS on Metamask.
Can you not store Aptos on Ledger or Trezor?
Hardware wallets like Ledger and Trezor do not support Aptos ecosystem coins.
Also Read
Aptos vs Sui – Which is best layer 1 blockchain?
Aptos Tokenomics: Is APT a good buy in 2022?
Top Aptos Wallets – Infographic
Conclusion
Aptos is a capable and technically strong project with a lot of salient features which is making a good name in the market and among the developer community. The native token is also a good investment option when we consider the strong financial background of the company. Moreover, it has built a strong community which will be continuously in process of development of Aptos.
Talking about the best Aptos wallet, there are many options available in the market. Users should choose the wallet accordingly as per the use case, the platform of use and the interface the user is comfortable in. The selection of a wallet also depends on the security and ability of the wallet to handle transactions.
