EDIT1: Renamed ccvault to Eternl.
EDIT2: Added GeroWallet.
EDIT3: Added Typhon Wallet.
People are often asking what the differences between the numerous Cardano wallets are. I’ve used some of them so here’s my impressions:
1. Daedalus:
Pros:
- Full node wallet (fastest transactions, best security).
- Easy to delegate ADA to a staking pool.
- Catalyst voting registration option.
- Frequently updated, good support.
Cons:
- Desktop application with steep hardware requirements.
- Requres synchronized every time you open it (takes a lot of time before usable).
- Cannot connect to dApps (yet).
- Doesn’t display token and NFT images.
What I use it for: when I need to make a transaction asap - ICOs, limited minting events, etc.
Other: only had problems when using it with HW wallets (a HW wallet needs to be plugged in before running Daedalus).
2. Eternl/ccvault:
Pros:
- dApp connector.
- Easy to delegate ADA to a staking pool.
- Option for staking into multiple pools.
- Catalyst voting registration option.
- Tokens and NFTs are categorized and displayed.
- Frequently updated, good support, great community.
Cons:
- Web wallet (transactions can get queued in mem pools when traffic is high).
- A lot of info, options and settings might be discouraging to a new user.
What I use it for : for all casual transactions (for most dApps, DEXes).
Other: You can actually pass the web wallet mem pools by connecting it to Deadalus (setting “Custom Submit API Endpoint”). But that is inconvenient for several reasons, so I use the Load Balancer provided by Freeloaderz: https://www.freeloaderz.io/. Works like a charm and never had any issues.
Also worth mentioning is that there are two versions of the wallet, a web app and a browser extension. They look completely the same but only the browser extension can be used with dApps. Can be really confusing for a new user.
3. Nami:
Pros:
- Looks similar to Metamask.
- Neat and simple to use UI.
- dApp connector.
- Option for staking into multiple pools.
- Tokens and NFTs are categorized and displayed.
Cons:
- Browser extension wallet (transactions can get queued in mem pools when traffic is high).
- Delegate ADA to a staking pool through pool.pm which can be confusing.
- Single address wallet (messes with wallet restoration).
- No Catalyst voting registration option.
What I use it for : when other wallets are not available.
Other: Just like ccvault, you can bypass the mem pools by setting Custom Node Network with Daedalus (https://www.youtube.com/watch?v=_-WDEaSnaWU) or Freeloaderz. Most issues come with not setting the collateral before using dApps. Other than that, never had problems.
4. Yoroi:
Pros:
- Neat and simple to use UI.
- Easy to delegate ADA to a staking pool.
- Catalyst voting registration option.
- dApp connector.
Cons:
- Web wallet (transactions can get queued in mem pools when traffic is high).
- Slow even for a web wallet.
- Doesn’t display token and NFT images.
What I use it for : only for backup, in case other wallets wouldn’t work.
Other: Despite having dApp connector, not many projects integrate Yoroi. I also didn’t find any options for Daedalus/Freeloaderz node connection. Never had any problems, except with very slow loading when the network or mem pools are congested.
5. GeroWallet:
Pros:
- Looks similar to Metamask.
- Neat and simple to use UI.
- dApp connector (but not many apps support it).
- Easy to delegate ADA to a staking pool.
- Tokens and NFTs are displayed.
- Will have an integrated DEX in the future.
Cons:
- Browser extension wallet (transactions can get queued in mem pools when traffic is high).
- Single address wallet (messes with wallet restoration).
- No Catalyst voting registration option.
- No option for setting Custom Node.
What I use it for : as backup and for possible future app interaction.
Other: No Custom Node and small number of apps that can be used with Gero make it less useful than other wallets.
6. Typhon Wallet:
Pros:
- dApp connector.
- Easy to delegate ADA to a staking pool.
- Option for multiple accounts.
- Option for staking into multiple pools.
- Can be displayed in a web page or with browser extension.
- Catalyst voting registration option.
- Tokens and NFTs are categorized and displayed.
- Frequently updated, good support.
Cons:
- Web wallet (transactions can get queued in mem pools when traffic is high).
- No option for Custom Load Balancer.
- Not compatible with many dApps.
What I use it for : for casual transactions.
Other: Possibly the best looking wallet on Cardano, but with less options than Etern.