Best Tron Wallets in 2023

Tron (TRX) has been one of the most successful cryptocurrency projects since its release in 2017. The coin has climbed significantly, placing it in the top 15 cryptocurrencies based on market cap. Tron focuses on distributing entertainment content globally in a decentralized way, and users can publish, store, and own data on the blockchain for free.

Moreover, the US is at the forefront of cryptocurrency adoption, with 16% of Americans investing in or trading cryptocurrency. The largest segment of US cryptocurrency investors is Bitcoin holders, at 23.3 million. The country leads the world in daily BTC volume at $1.5 billion.

Although Bitcoin is looked upon as a great investment by many, diversifying assets is ideal for minimizing risk, and Tron can be a great addition to a crypto portfolio.

The unique scope of Tron’s ambitions makes it an ideal investment proposition for many US cryptocurrency investors. After buying Tron (TRX), you’ll want to use a Tron wallet to store them safely. However, choosing the best Tron wallet can become overwhelming with the vast array of options available in the United States.

Therefore, we’ve created this guide to help inform you of the best Tron wallets: hot wallets, cold wallets, mobile wallets, and free Tron wallets you can use. Also, we’ll discuss the top tips when using a Tron wallet and how to cash out your investment.

What Types of Tron Wallets Are There?

Crypto wallets store public and private keys while allowing users to manage their crypto assets through an easy-to-use interface. Also, they provide additional services like transferring Tron coins to other crypto wallets, staking, entering liquidity pools, and connectivity to dApps.

However, it’s important to note that Tron wallets do not work like conventional money-storing apps as they do not hold currency within. Your bought coins are still on the blockchain, and you can only access them by using your private keys.

All TRX wallets use a public and private key to facilitate transfers. To put it simply, the public key is like a bank account routing number that everyone can see on the public ledger and use to send Tron coins to that wallet. The private key is your PIN code used to access the funds in the wallet. Also, when you make a transfer, the private key is used to sign the transaction to prove you own the coins linked to the public key.

Therefore, you must protect your private keys so the stored Tron coins will not get stolen. Numerous wallet apps do this effectively by using encryption or storing keys offline. When deciding how to store your Tron, you’ll have to decide between using a hot or cold wallet. Both are excellent options but offer different features and services that affect your investment strategy. You can find more about them in the section below.

Hot Wallets - Best Tron Wallets For Beginners

Hot wallets are always connected to the internet and store your private keys online. They provide all the necessary features like storing, transferring, and dApp connectivity. More advanced cryptocurrency wallet scan offer staking options and built-in exchanges.

Also, custodial wallets can offer a debit card service where you can pay for services via cryptocurrency. This is done by the Tron wallet provider converting your coins to fiat currency when making a payment.

Typically, hot wallets are ideal if you plan to trade regularly since they allow quick transfers and easy connections to decentralized apps. Also, if you have a small crypto portfolio investing in a cold wallet may not make sense, whereas hot wallets are excellent because most are free to use.

Desktop & Laptop Wallets:

• These are cryptocurrency wallets that you download on your computer and work without using a browser. The files holding your private keys are usually encrypted and stored in your computer. Also, most wallets are cross-platform, meaning you can use them on MacOS, Windows, and Linux.

Web Wallets:

• These wallets operate directly from the browser and offer easy connectivity to dApps. Most come as browser extensions that you can easily install with a few clicks.

Mobile Apps:

• Mobile wallets are downloaded from your smartphone’s app store. They allow you to make transactions and manage your portfolio from anywhere as long as you have an internet connection.

Apps:

• Wallet apps work on all platforms such as mobile, desktop, and web. Any transactions and coin management activities will update across all applications that you have installed.

Exchange Tron Wallets:

• Cryptocurrency brokers and exchanges will provide you with a hot wallet once you sign up. After buying Tron on their platform, the coins will appear in the exchange wallet.

Moreover, Tron wallets can be custodial and non-custodial. A custodial wallet means you are not required to protect your keys as the TRX wallet provider or a third entity will do this for you. For example, an exchange or broker will not give you a private key. Unfortunately, this means you are not in control of your Tron wallet and rely on the provider heavily to protect your Tron.

Also, if the exchange gets hacked or goes bankrupt, your funds may not get reimbursed. Recently, Coinbase has stated that if they were to go bankrupt, the court might treat small portfolios as their assets. Therefore, removing your assets from an exchange or broker is highly recommended.

On the other hand, with a non-custodial wallet, you are fully in control of your assets and can manage the Tron wallet however you want. However, this means the responsibility of safeguarding your private keys falls upon you.

Cold Wallets - Best Tron Wallets For More Experienced Users

The safest way to store Tron is via a cold wallet because they are not connected to the internet. This means there is little room for the Tron wallet to be compromised and far less risk associated when storing coins.

Cold wallets are physical hardware devices that connect to a computer through USB. They allow users to install multiple blockchains to store over 1,000 unique cryptocurrencies, including Tron.

These wallets are perfect for long-term holding due to the security provided. However, they are not ideal for short-term strategies like day and swing trading since hot wallets are better suited for those investment strategies. Also, hardware wallets are not free, and the high-end options can become pricey. Therefore, you’ll want to use this type of wallet if you have a substantial amount of crypto holdings.

Paper Wallets:

• This wallet is a piece of paper with your private keys printed or written down.

Hardware Wallets:

• These are physical coin storage devices that come with multiple security features like storing keys offline and PIN code logins. Hardware wallets are the safest way to store Tron since private keys are kept offline.

Remember to write down your seed phrase and private key because they are the only way to access your Tron if you forget your PIN. Also, keep your keys in a safe location that only you know about because someone else can use them to access your coins from another wallet.

Top Hot & Cold Tron Wallets

Best Tron Wallets Overall

We’ve researched the best Tron wallet providers in the industry and compiled them in the table below.

Our ranking of these Tron TRX wallets focuses on several key features that US users require, such as ease of use, security, and integrations.

Here’s a more in-depth look at each of these wallets…

Guarda

Guarda is a non-custodial wallet that supports more than 50 blockchains, including Tron. The Tron TRX wallet enables users to swap coins, borrow funds, and earn passive income through staking. It’s rated as having the best security, making it the ideal choice for holding coins long and short term.

Atomic Wallet

Atomic Wallet is an established TRX wallet with over 2 million active monthly users. It supports over 500 cryptocurrencies and includes a crypto buy feature, making it easy to acquire the coins you want. Furthermore, the founders of Atomic Wallet have focused greatly on security, which is evident as private keys are encrypted with the best protection technologies.

Trezor Model T

Trezor is an established hardware wallet brand that has a central warehouse in the US. This allows them to quickly ship your order within 1-2 business days after you’ve ordered. Also, they have several American reselling brands that they have partnered with.

The Trezor Model T is a premium hardware wallet with several features such as network-isolated authentication, Universal 2nd Factor, a touchscreen, and Bluetooth connectivity. It stores private keys off the network, making it the most secure way to hold Tron. In addition, the device supports more than 1,200 coins, so you can store all your cryptocurrencies.

If you’re looking for a more extensive list of Tron wallet options, then have a look at the section below for rankings by each type.

Best Tron Wallets By Type

Best software Tron wallets

Below we have the best US software Tron wallets ranked based on the features provided, ease of use, and security.

Best hardware Tron wallets

This section contains the best hardware wallets that support Tron.

We’ve selected these choices because of their brand reputation and beginner-friendly features.

Best mobile application Tron wallets

Smartphone wallets are becoming more popular in the US because they allow users to manage their funds from anywhere. The TRX wallets underneath are selected for their user-friendly interfaces, coin variety supported, and TRX staking options.

Top Free Tron Wallets

Take a look at the top 3 US free Tron wallets.

What To Consider When Choosing A Tron Wallet?

Do Tron Wallets Support NFTs?

NFTs (non-fungible tokens) are data stored in a blockchain. Most often, you’ll hear about NFTs in the form of digital art, but they can come in different forms like event tickets, real estate, clothing, and more. Interestingly, mainly the younger generation in the US collect NFTs, with 23% of buyers being millennials.

Moreover, TRX wallets like Exodus and Atomic Wallet support NFTs and can provide integrations to platforms like OpenSea.

Is Staking Possible With A Tron Wallet?

Staking is when you lock your tokens for a period of time to earn interest on coins. We’ve listed a few great options where you can directly stake crypto from the TRX wallet, such as Exodus, Atomic Wallet, and Guarda.

Can I Use The Same Tron Wallets For Multiple Exchanges?

Tron wallets can send coins to any exchange if you use the TRX blockchain and correct TRX wallet address. The exchange will provide you with Tron deposit options if it’s supported on their platform. Before making any transaction ensure that the receiver address has no mistakes; otherwise, the funds will not reach the exchange.

Can I Trade On Decentralized Exchanges Using A Tron Wallet?

Decentralized exchanges (DEXs) are dApps built on the underlying blockchain and use smart contracts to function. They are not regulated by an authority and are non-custodial. DEXs require connecting a TRX wallet to their platform for exchanging coins, staking, or entering liquidity pools. Therefore, in most cases, you’ll need a browser wallet to connect to the decentralized exchange.

Can I Buy Tron Using A Wallet?

Some TRX wallets provide buying sections where you can instantly purchase Tron with a debit/credit card. However, the fees for this service are usually much higher compared to using a cryptocurrency exchange. For example, Guarda will charge a 5.5% fee for bank cards, which is staggering compared to the average 0.5% fee for CEXs.

Therefore, you’ll want to avoid this payment method and use the built-in exchange. Here is how to buy Tron with Guarda:

How Do You Cash Out And Spend Tron From A TRX Wallet?

Once Tron has reached your price goal, you’ll want to cash out the investment. Generally, TRX wallets follow similar steps for converting your Tron to US dollars. Here’s a guideline to help you.

Top Tips For Tron Wallet Users

• Never provide your seed phrase to someone claiming to be customer support or a website because it’s a scam.

• When transferring coins, ensure that the addresses are correct. Using an incorrect address will lead to lost coins.

• Before depositing Tron to the TRX wallet, have at least 2 copies of your seed phrase written down in a secure location.

• Verify that the Tron (TRX) wallet brand can be trusted. You can do this by reading reviews left by previous users and doing a background check on the founding team.

• Do not login to your Tron wallet when using public WiFi as they are not secure.

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