The Aptos project was officially released in October 2022, with its focus being on the safety, scalability, and upgradability of Web3 infrastructure. It is essentially a revived blockchain project from Meta’s abandoned Web3 project. The most interesting feature of this project is its use of a new programming language called Move, a novel smart contract language.
It opened at a notable price of approximately 13 USD, with a volume worth 57 million USD. However, it soon dropped and never returned to its opening heights. Today, as of March 25, 2024, it is trading just below 16 USD per APT with a market cap of 6.46B USD, and if the maximum supply of APT, which is around 130 million tokens, were to be circulated in the market, the market cap would exceed 17.42 billion USD.
As of March 25, 2024, Aptos has a Total Value Locked (TVL) of 460 million USD.
What is Aptos?
Aptos is a high-speed L1 blockchain. For our naive readers, let me decode the term “L1 blockchain.” An L1 blockchain, or Layer 1 blockchain, essentially refers to a base network, often called the mainnet.
In simple terms, a Layer 1 blockchain is a blockchain that processes and finalizes all transactions on its own network.
What does Aptos network do?
Regarding the Aptos Network, it provides an infrastructure for decentralized applications (dApps) to process and complete all transactions on the Aptos Blockchain. The project and coin launch of Aptos were seen as significant events, and this project is viewed as having the potential to outperform all its competitors in the market.
The features outlined in its white paper are aimed at connecting Web3 with the masses and include various technologies used to enhance its diversity. For example, the programming language used focuses on security, enabling developers to build more secure software.
Additionally, the Aptos data model offers features like flexible key management. There are many technical aspects that make this project unique. Another interesting fact about the Aptos project is that it is a Proof-of-Stake blockchain, hence it can facilitate more than 150,000 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.
In total, Aptos raised a total of 350M USD.
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
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?
As I mentioned, you need an Aptos wallet to store Aptos coins and ecosystem tokens.
Some of the best Aptos wallets are:
Petra: Official Aptos Wallet
Type: Chrome Extension
Built by Aptos Labs, Petra is a browser extension for Aptos.
Petra Wallet is a browser extension designed to let users seamlessly interact with the Aptos ecosystem directly from their browser. Developed with passion by Aptos Labs, Petra aims to enhance your Web3 experience on the Aptos blockchain by providing a secure and user-friendly interface.
The wallet facilitates interaction with NFT Marketplaces, DeFi applications, and other distributed applications (dApps) on the Aptos network, broadening the scope of activities users can engage in without leaving their browsers. Moreover, Petra supports the storage and easy switching between multiple accounts, making it convenient for users to manage different portfolios and activities within the Aptos ecosystem.
Security is a cornerstone of the Petra Wallet experience. It ensures the encryption of your keys and mnemonics on your device, safeguarding your digital assets. Users have the flexibility to import private keys and mnemonics into their wallets, adding an extra layer of control and protection. Additionally, Petra enhances the transaction process by allowing users to easily review and simulate transactions before confirming them, providing a transparent and safe transaction environment.
Martian Wallet: Best Self Custody Aptos wallet
Type: Chrome Extension
The 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 6,00,000 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. The best part of using Trust wallet to store Aptos ecosystem coins is that you do not need to download multiple wallets for different cryptocurrencies.
Trust wallet is recommended for users who do not deal with Apto DEFI or NFTs, and just wants to hold their Aptos for long term.
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 downloads on play store. This is comparatively a new Aptos wallet.
Rise Aptos Wallet
Rise wallet is a highly secure and powerful crypto wallet that offers users the full benefits of Aptos blockchain. Developed by the experienced team behind Solflare on Solana, Rise provides a seamless interface and a comprehensive set of features for exploring the Aptos blockchain. With Rise, users can easily manage all their NFTs in one convenient location, ensuring that their valuable digital assets are organized and easily accessible.
This Aptos wallet also offers the best routes for crypto trades, allowing users to make informed decisions and optimize their trading strategies. Real-time updates keep users informed about the latest developments in their favorite apps and NFT collections, ensuring they never miss out on important events. With its advanced security measures and user-friendly interface, Rise wallet stands out as the go-to choice for individuals looking to experience the full potential of the Aptos blockchain.
There are also available many other wallets such as CLV Wallet, Spika Wallet, Blocto, ComingChat, ONTO Wallet, ComingChat, FoxWallet, etc.
Binance Wallet
Binance is a custodial wallet for Aptos blockchain. You can store your 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. Again, this is not recommended for those who deals with Aptos Defi and NFTs.
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.
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 now support Aptos ecosystem coins. So, yes, you can store APT and other cryptocurrencies on Aptos blockchain on Ledger and Trezor.
Which is the best free Aptos wallet?
As free, my recommendation would be Petra wallet, as in there. Petra is the official wallet, and is mostly used in Aptos Defi and NFTs.
Which is the recommended Aptos hardware wallet?
The best recommended Aptos hardware wallet is Ledger.
Also Read
Which is the best Aptos wallet for NFTs?
Petra is the most recommended Aptos wallet for trading Aptos NFTs.
Top Aptos Wallets – Infographic
Conclusion
Aptos is a capable and technically strong project with many salient features, earning a good reputation in the market and among the developer community. The native token also presents a solid investment opportunity, considering the strong financial background of the company. Furthermore, it has built a strong community that will continuously engage in the development of Aptos.
Regarding the best Aptos wallets, there are numerous options available in the market. Users should choose their wallets based on the use case, the platform of use, and the interface with which they are comfortable. The selection of a wallet also depends on the security features and the wallet’s ability to handle transactions efficiently.
