Elrond is an integrated blockchain network designed to ensure high scalability, transparency, fast and secure transactions, improved user experience, optimize cost, and create new business models on the platform. Elrond promises to build a new digital economy and wants to grow the Elrond community by leaps and bounds. The Elrond community is backed by a highly efficient team of engineers, developers, investors, and validators. Furthermore, Elrond has partnered with some of the leading names in the blockchain community like DSLA Protocol, Terra Virtua, TypingDNA, Neurolabs, Binance, Nash, OIN, BitMax, WazirX, etc.
- SPoS (secure proof-of-stake) consensus mechanism that ensures more security and scalability on the platform. EGLD stakeholders can stake Elrond coins and earn rewards by delegating and validating nodes
- State sharding to initiate non-conflicting transactions
- WASM virtual machine for testing and handling different smart contract languages
Best Elrond (eGLD) Wallets
Elrond eGold or EGLD is the official token of the platform. However, to store EGLD, users need a wallet that supports the eGold coins. Below are listed five different wallets that are safe to store EGLD tokens.
Maiar is an official eGold digital wallet powered by the Elrond blockchain network. Creating this wallet is super easy. You do not need any password, private keys, or recovery passphrases. You simply need to register to the wallet with your phone number. However, you can use a recovery passphrase in case of loss of the wallet. The digital wallet will access your phone address book and allows you to send tokens to your friend and family members from anywhere in the world. Transaction fees are as low as $0.001. There are no hidden fees. For those who do not want to share their phone numbers with strangers, Maiar.com has a solution for them as well. Introducing ‘herotags’, a special feature that only uses a username and a DNS service run through the Elrond blockchain network. The wallet is end-to-end encrypted and supports eGold, Elrond tokens, Ethereum (ETH), Binance (BNB), ERD ERC20, ERD BEP2, and plans to support BTC in the future.
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Ledger Nano S/X
Elrond has happily announced that it has integrated with Ledger Nano S wallet, one of the most trusted hardware wallets used so far. Users have to simply install the Elrond eGold app in their Ledger Nano S or Ledger Nano X wallet and start storing eGold tokens. To start, users have to set up their Ledger Nano S wallet and remember to upgrade it with the latest firmware. To install the Elrond application, they have to unlock their Ledger device and search for the Elrond app by opening the Ledger Live application. Installation is easy. To send and receive tokens, you have to give the right addresses. You can also earn rewards by delegation through staking. You can check your transaction history and fund balance anytime in the Ledger wallet. Buy Ledger Nano S/X Now!!!
Elrond Web Wallet
The Elrond web wallet is the official wallet of the Elrond blockchain community. It is simple, secure, and easy to create to store, send, receive, and transact their EGLD tokens. To create this wallet, you have to generate a secure password and keep all your passphrases and private keys protected for future use. Get notified instantly upon the successful completion of a transaction and view your transaction history and details anytime on the wallet.
Trust Wallet is the official wallet of the Binance network and apart from being the most popular wallet in the network, it is trusted by more than 5 million users across the world. The mobile wallet has now extended its support to eGold tokens and all existing and new users of Trust wallet can now hold Elrond tokens in their wallet. So, wallet users can download the wallet safely in their Android and iOS phones and start storing and transacting crypto coins as well as navigate through the numerous dApps available in the wallet.
Frontier Mobile Wallet
The Frontier mobile wallet has recently announced its support for the eGLD tokens on the Elrond network. To start, download the Frontier mobile wallet into your Android phone from Play Store. Now, simply install the Elrond app and run the process. Next, you need to create a safe PIN code to access your wallet and a 12-word seed code for recovery purposes. Now to access Elrond wallet, you have to go to the “Menu” section and change to Elrond wallet. Now for those who already have an Elrond wallet, you need to click the “Import Wallet” icon and choose Elrond wallet and create a PIN code. Now your wallet is ready to store Elrond tokens. To receive eGLD tokens, simply copy the QR code or the address and start receiving tokens.