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16 Dec 2021

5 Best TRON (TRX) Wallets That You Must Know

Devansh Sinhal

Best 5 TRON Wallets That You Must Know

In this blog, we will discuss the five best cold wallets you need to store TRON. All of these best TRON wallets have their own advantages and disadvantages in terms of functionality. We will break each of them down and figure out the best overall wallet for your TRON storage needs.

Key Takeaways

  • TRON wallets can be used to keep your coins safe from hackers and thieves
  • Hot and cold wallets are both safe options. Cold wallets could be used to store large amounts of crypto to make the hardware worth the investment
  • One should choose a TRON wallet after duly considering the following aspects: cost, security, mobility, user-friendliness and support for other coins
  • One of the best TRON wallets is the Ledger Nano X, which allows users to stake their coins from within the wallet without the need for a third-party app

Understanding TRON Wallets

TRON is a blockchain-based cryptocurrency coin that was initially designed to allow users of the network to publish, store and own data on the network for free. The TRON coin is the official token of the network, ranking 31st in the top cryptocurrencies by market capitalization. It currently holds a market cap of $8.9 billion (16th December 2021).

If you’re an investor in TRON and want to buy TRON in India, using a cold wallet is the most recommended choice.

Cold wallets are physical devices that act as wallets for your coins. Once you have bought your coins on an exchange like CoinSwitch Kuber, you can withdraw them to a hot wallet and subsequently to a cold one.

Cold wallets are quite secure. Stealing from a cold wallet is especially difficult because it would entail having actual possession of the physical wallet at the time of the hack. Even then, a series of PINs or passwords are also required to access the funds on a cold wallet.

Hardware wallets do not stay online. They are offline most of the time, except when they are in direct use – when transferring more coins to the wallet or from. These wallets are designed to be immune from hacking. Even when these wallets are connected to a computer via a USB port or Bluetooth, the funds on the device can’t be stolen just like that. Most wallets allow the real owners to assign a signature to every transaction to make validation easier.

Hardware wallets are less convenient than other hot wallets, which are managed by exchanges and other third-party apps. This is because they have to be connected to a computer and then to the internet every time a transaction has to be made. However, this is a small price to pay for increased security of their coins for most investors.

If you plan to buy and hold TRON for the long term, it is highly recommended that you invest in one of the following TRON wallets to keep your coins safe.

Top 5 TRON Wallets

While selecting a TRON wallet for yourself, there are certain things that you should keep in mind. Considering the following parameters are important when working with large amounts of cryptocurrencies. Hence, the more thorough you are, the better.

best tron wallets

  • Costs associated with the wallet – Hardware wallets can range from anywhere between $100 (INR 7500 approximately) to $300 (INR 22500 approximately) depending on their functionality and usage. Investing in a good hardware wallet with decent security features is important, but so is thinking of the cost. Strike the middle ground when finding yourself the best match.
  • The security the wallet provides – This is the most important feature of your wallet. Making sure that your holdings are safe from hackers and thieves is pertinent to its functionality.
  • Mobility – If you’re thinking of using your crypto wallet to make frequent transactions over the internet or at merchant locations that accept crypto, you must invest in one that allows you to be mobile. Find out whether there are certain system requirements that are needed to access your coins. One that allows you to interact with your holdings at any place with any computer is the perfect match for you.
  • User-friendliness – Most people aren’t into the technicalities behind cryptocurrencies. All they want is for their coins to be safe and their transactions with those coins to be efficient. If you’re one of those people, make sure your wallet is easy to access and configure. Most hardware wallets come with a mobile app. User-friendliness of the app is also important when you know you’re going to engage with your coins through the wallet a lot.
  • Multi-currency support – While there are a lot of wallets out there that claim to be specifically designed for one type of currency, you’re better off with one that, at least, supports other currencies as well. Since cryptocurrencies are not accepted everywhere, you might have to convert your coins from one currency to another on an exchange like CoinSwitch Kuber at some point. Having that compatibility in your wallet is something that can come in handy in the long run.

    To download the CoinSwitch Kuber app, click here! (Android) (iOS)

We have compiled a list of the top 5 TRON wallets you can get to store your coins safely. These wallets are unique in their functionalities and advantages. They are suited to different requirements according to different investment styles. Go through the entire list to find your perfect match!

Wallet 1 – Ledger Nano X Wallet (Hardware)

This TRON wallet is one of the best wallets out there to store your coins in. It is the perfect choice for investors who want to stake their coins to earn block rewards over time. When you use this wallet, you don’t need a third-party app for staking your coins. The wallet has the functionality to do it directly for you.

The Ledger Nano X is compatible with almost all popular operating systems, including Windows, Linux, Mac, Android and iOS. The supporting software called Ledger Live can be used to communicate with the wallet directly. Transactions are signed internally using your private key, which is kept completely secret and never exposed. 

Fees

The Ledger Nano X costs around INR 5200.

Pros

  • Great app functionality
  • Safe and secure transactions
  • Automatic staking – no third-party apps required
  • Can connect to a TRON blockchain explorer automatically

Cons

  • Fairly expensive
  • Bluetooth is only compatible with the mobile app, not the desktop
  • No assets or tokens can be purchased through the wallet

Wallet 2 – CoolWallet Pro (Hardware)

CoolWallet Pro is also a TRON wallet that supports iOS and Android devices. The prime advantage of this TRON wallet is that it is very easy to carry. It is made in the shape and size of a credit card which can easily fit into a purse or a physical wallet. CoolWallet Pro is the second generation of CoolWallets (first being CoolWallet S) with the upgraded chipset and higher EAL6+ ranking. 

The wallet can be accessed and used by means of the CoolBitX Crypto Wallet App through Bluetooth. Along with TRON (TRX), the CoolWallet Pro also supports the direct staking of Cosmos (Atom) and PolkaDot (DOT)!

Fees

The CoolWallet Pro costs $149 (INR 11,000 approximately)

Pros

  • Supports direct staking of TRX, DOT and ATOM
  • Easy to carry
  • Convenient shape

Cons

  • Incompatible with Windows, Mac or Linux
  • Supports only Bluetooth connections with mobile devices

Wallet 3 – TRONLink (Software)

The TRONLink wallet is a software wallet that’s available both as a mobile (Android and iOS) app as well as a Chrome extension. The wallet is officially collaborating with the TRON development team to bring multi-layer protection for its users’ holdings on the app. This is the only wallet other than the Ledger Nano X that can independently be connected to TRONScan, the TRON blockchain explorer.

Fees

The TRONLik software is free.

Pros

  • Staking is automatic
  • User-friendly interface with clear estimated yield return percentages
  • Instant swaps between TRON and TRX20 are available

Cons

  • Erratic customer support
  • No desktop apps
  • Hidden charges might be present

Wallet 4 – Trezor Model T Wallet (Hardware)

Trezor Model T is another safe and secure hardware wallet for storing your TRON coins. However, this hardware wallet also supports other currencies like BTC, ETH, XRP, BCH, USDT, LTC, XLM, BNB, ADA, XMR and over 700+ more. The wallet is password protected, has an unbroken security record, and is open source. This means that the design and firmware of the product have been heavily scrutinized to make it sTRONger.

Fees

The Trezor Model T costs $170 (INR 12500 approximately).

Pros

  • Large touchscreen
  • Tested security features through open-source coding
  • Integrated exchange support embedded in the wallet

Cons

  • Expensive for most customers
  • Limited coin support. Even after supporting more than 750 different cryptocurrencies, some of the most prominent ones are not yet supported on this wallet

Wallet 5 – Atomic Wallet (Hardware)

Atomic Wallet is one of the best wallets for the storage of cryptocurrencies out there. The wallet also allows users to trade coins from within their wallet itself. Atomic Wallet supports more than 500 different coins and tokens. It can be accessed through a PC application. The app has its own token called Atomic Wallet Coin (AWC) which can be used to pay for features like skipping the atomic swap queue or getting your own token supported by the wallet.

Fees

Atomic Wallet can be downloaded and used entirely for free, although using certain services may incur variable fees at different points.

Pros

  • Supports a wide range of coins
  • Supports atomic swaps
  • Supports additional decentralized currency trading
  • Powerful, yet simple and user-friendly

Cons

  • Security loopholes
  • No hardware wallet integration yet
  • User solely responsible for wallet’s security

Best TRON Wallet

These are 5 of the best TRON wallets that users can buy to safeguard their crypto coins. While it is often believed that cold or hardware wallets are safer than hot or software wallets, none of these methods is completely invincible. Hence, you must make sure that you, as an investor, take every precaution to keep your coins safe. Choose a strong password for your wallet, always keep your private key safe, and invest in multiple wallets if you hold huge amounts of crypto.

Want to buy TRON in India at the best prices? Check out the CoinSwitch app.

Convert TRON to INR seamlessly on the CoinSwitch website.

Frequently Asked Questions

How do you use a TRON wallet?

A crypto wallet can be used to store your coins safely when you’re not using them. To transfer your coins to your wallet, you must use your exchange and your wallet’s address.

What is the safest TRON wallet?

One of the safest TRON wallets in the world is the Ledger Nano X, which is compatible with Windows, Mac, iOS, Linux and Android.

How do I withdraw money from my TRON wallet?

If you have a cold wallet, you must connect it to a computer system and then to the internet to convert your TRON to INR. However, if you have a hot wallet, you can always sell your coins on a crypto exchange to get fiat currency in return.

Does TRON have a future?

TRON was created as a direct challenge to the media industry, including the web-based giants like Amazon and Netflix. Its slogan is “Decentralize the Web” and its aim is to eject the corporate middleman from the process of consuming media. Beyond its objective goals, its future mostly depends on the quality of coding and programming its core developers can bring to the network in the long run.

Disclaimer : Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. The information provided in this post is not to be considered as investment/financial advice from CoinSwitch. Any action taken upon the information shall be at user's own risk.

writer

Devansh Sinhal

Content Writer

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