This guide presents the 10 best Solana Staking Wallets in 2022. There are some wallets which are specifically designed for Solana whereas some are multi-cryptocurrency and multi-blockchain. Let us explore these wallets one by one.
Table of Contents
10 best Solana Staking Wallets in 2022
Solflare Wallet
The first popular wallet for Solana staking is Solflare. Solflare is one of the earliest wallets created especially for Solana. Solflare is a top-notch Solana wallet developed by Solana Labs and accessible on a number of platforms.
You can directly stake SOL on the Solflare wallet or you can connect your Solflare wallet to the Ledger Nano to securely stake SOL on a hardware wallet.
Along with a Chrome extension that enables you to manage your money in your web browser, this non-custodial wallet supports the Android and iOS mobile operating systems. You may make in-wallet swaps, store your audio and visual NFTs, and stake your SOL directly from your Solflare wallet.
Solflare is a multi-usage Solana wallet which offers:
- Buying, storing, sending and swapping tokens both from the web and mobile versions of the wallet
- Storing NFTs with complete metadata
- Staking and liquid staking SOL
- Connecting to the Solana Dapps
- Getting instant notifications of opportunities
You can refer to the Solflare Academy to get detailed insights into Solflare.
Pros
- Offers Chrome, iOS, and Android versions
- Stake, swap SOL an store NFTs
- Solflare Academy is an excellent portal to learn in depth about Solflare and Solana
- Non-custodial
- Hardware wallet support for staking-you can stake Solana on Ledger Nano via the Solflare wallet
Cons
- Not an Open Source cryptocurrency wallet
- Does not support all NFTs
Sollet Wallet
Sollet is an open-source wallet. As is claimed by Sollet, it should be used by developers and advanced users. Novice or early investors should rather opt a Solflare or Phantom wallet for staking Solana.
You can directly stake SOL on the Sollet wallet or you can connect your Sollet to a Ledger Nano to securely stake SOL on a hardware wallet.
Sollet is a great choice if you’re searching for a sophisticated wallet to store, stake, swap SOL. By supporting Ethereum ERC-20 coins like USDT, wETH, and wBTC, Sollet distinguishes itself from Solflare and Phantom. It also supports digital assets, which are frequently utilized on Solana. Serum (SRM), MegaSerum (MSRM), and Oxygen Protocol are some of them (OXY).
Pros
- Additional security offered by the 24 word recovery phrase.
- Like Solflare, you can connect Sollet with the hardware wallet Ledger which makes it even more secure for staking Solana
- Support for ERC 20 tokens
- Non-custodial wallet
Cons
- Not suggested for novice crypto investors
- The User interface is not that user friendly
Phantom Wallet
When it comes to the most popular and widely accepted Solana wallets for staking and other purposes, Phantom competes with Solflare for the first place. This non-custodial wallet is next in priority to the Solflare wallet only due to the fact that it supports iOS and Web Browser extensions. Unfortunately, Android is not currently supported. On Firefox, Chrome, Edge, and Brave, you can install its Solana web extension.
Similar to Solflare, Phantom provides low-cost swaps, SOL staking, and a place to store your preferred NFTs. Additionally, Phantom won’t monitor any of your personal information, such as account balances, addresses, or any other forms of information that can be used to identify you.
Phantom does have a support bot even if it doesn’t have an academy like Solflare. So, if you have difficulties, you can get support from the Phantom bot.
Pros
- Multi-browser support including Chrome, Firefox, Brave and Edge
- Does not track your personal information like account balances, addresses or any other information that can help to identify you
Cons
- Android is not supported
- 12 word recovery phrase, which compared to Sollet is less of a security
- Comparatively newer-launched in 2021
- One of the issues with staking is that the Phantom wallet by default shows the most popular validators for staking SOL. This phenomena results in people by their natural instincts choosing these popular validators and hence prevents the decentralization of the network. Because more and more SOL are staked with these popular validators, hence debilitating decentralization.
Exodus Wallet
A multi-currency wallet that can be used in Windows, Mac, iOS and Android. Apart from supporting over 150 different cryptocurrencies, Exodus supports staking with Solana staking as one of the options.
It has partnered with Trezor One and Trezor Model T to trade and store cryptocurrencies securely in a hardware wallet. The wallet also offers and cryptocurrency exchange for buying, selling, trading cryptocurrencies. It also allows to store your Solana NFTs.
Exodus’ commitment to producing a top-notch product places it among the finest cryptocurrency wallets. User get regular updates to the application’s ongoing addition of new features and coins. Exodus can be the perfect wallet for you if you need one that works with Solana and other digital currencies.
Pros
- Supports multiple digital currencies (over 150)
- Sleek and easy UI
- Regular updates
- Partnered with Trezor Model One and Model T to allow users to trade and store cryptocurrencies via hardware wallet for enhanced security.
- Built in exchange apart from staking platform
Cons
- Two factor authentication missing (please check once)
Trust Wallet
Trust wallet is one of the most reputable third-party wallets available in the cryptocurrency industry. Trust wallet has all the functionality you require if you’re seeking for a premium third-party wallet for your Solana. Although Trust wallet is only available for Android and iOS and does not support web extensions.
To begin with, the Trust wallet supports a variety of cryptocurrencies, enabling users to swiftly and conveniently buy, sell, and trade in accordance with their preferences. Through Trust’s integrated exchange, customers may also buy more cryptocurrencies including Solana. So you can always purchase more SOL when you start to run low.
Pros
- Multi-cryptocurrencies and multi-blockchain support
- Built in exchange
- Easy UI
Cons
- Only mobile versions available. No web versions for Windows or Mac.
- No two-factor authentication
Atomic Wallet
Atomic wallet supports over 300 cryptocurrencies. It is compatible to and supports Windows, Mac, Ubuntu, Fedora, Debian, iOS, and Android.
The Android version (Desktop does not) supports the Solana staking with approx. 7% annual percentage yield. The Atomic wallet is one of the first multicurrency wallets and can be used to manage and transfer bunch of coins from different blockchains. Besides, you can purchase SOL tokens and other cryptocurrencies on Atomic wallet using wired transfer or credit cards.
Pros
- Supports more than 300 cryptocurrencies. This is one of the highest number of cryptocurrencies supported by any crypto wallet.
- Available on Windows, Mac, Ubuntu, Fedora, Debian, iOS, and Android.
- Allows purchasing tokens
- Buying, selling, staking and exchanging cryptocurrencies
Cons
- No hardware wallet support
- Only specific cryptocurrencies including Solana, Bitcoin and Ethereum can be purchased on Atomic wallet
Ledger Wallet
Ledger is one of the leaders in the hardware wallets space, apart from Trezor. Although Trezor does not support Solana staking, Ledger Nano S and Ledger Nano X support Solana staking. Now after Ledger partnering with Figment (blockchain infrastructure provider), you can directly stake Solana using the Ledger Live application. Earlier, you needed to connect a software wallet like Phantom or Solflare to stake SOL tokens on Ledger wallet.
Staking SOL on Ledger is the most secure method of staking SOL tokens. This is because Ledger is a hardware wallet and all your tokens (technically the private key to the tokens stored in the blockchain) are stored offline away from any online hacks or malicious attempts.
How to stake SOL directly on Ledger
Pros
- Most secure method of staking SOL tokens
- Good for beginners
- Ledger Nano X supports over 100 cryptocurrencies and Bluetooth support.
Cons
- Costly.
- Two small buttons in the wallet makes it uneasy to operate in the beginning
- Not open source
Math Wallet
Another well-known multi-currency wallet like Exodus which supports over 90 different digital assets, including Solana. Due to the features it provides to customers, it’s one of the best Solana wallets. It is accessible on many different platforms, including iOS and Android. But it is not available as a web extension.
You can quickly and simply keep track of your cryptocurrency wealth using this incredibly secure mobile wallet. You can send, receive, and transfer tokens using Math’s user-friendly application. Additionally, Math supports other blockchains like Polkadot, Cosmos, and Ethereum.
The software that enables you to stake your SOL is called MathVault. You can receive incentives with this application without having to lock in your tokens. Plus, rewards are paid out on a daily basis, so you
Pros
- Supports over 90 cryptocurrencies
- Apart from Solana also supports Polkadot, Cosmos and Ethereum
Cons
- Only available on Android and iOS.
- Reportedly people have faced issues while staking on the iOS device.
Clover Wallet
If you’re interested in NFTs, Clover is one of the best Solana wallets available. This multi-chain wallet supports a wide variety of cryptocurrencies including SOL. Clover supports Ethereum, Binance Smart Chain, Polkadot, Avalanche, and other blockchains and cryptocurrencies in addition to Solana.
You may either download Clover for iOS or Android devices or install it as a Chrome extension. Clover has all the functionality you might ask for in a wallet that supports Solana. For example, there’s an internal swap feature, multi-chain and multi-currency support, staking, and NFT support.
Pros
- Multi currencies and multi chain support
- NFT support
- iOS, Android and Chrome extension available
Cons
- New wallet to the Solana ecosystem
Zelcore Wallet
Another multi-cryptocurrency wallet, Zelcore, supports all Solana tokens in addition to SOL. You can store each asset independently by using the three distinct addresses that come with each account you create on Zelcore.
SOL, ETH, BTC, and more than 270 more cryptocurrencies are supported. Zelcore is accessible on desktop computers, Android, and iOS mobile platforms. Users may instantly connect all of their DApps from a single browser tab thanks to a bespoke adapter solution built on Sollet.
Pros
- More than 270 cryptocurrencies supported
- Multi chain support including Solana, Ethereum, Bitcoin
- Available on iOS, Android and Web
- Built in bridge and DEX
- Easy UI
- Non custodial
Cons
- Reportedly the Android version is slow to get updated (like updating tokens bought, sold, etc.)
Conclusion
By now we have seen that there are multiple wallets which can stake Solana. Some of them are specific to Solana (Solflare or Phantom), whereas others are multi-chain and multi-currency wallets. The wallet selection will depend on your specific requirements. The table below gives a snapshot of the various Solana staking wallets and their relevancy to different requirements.
| Solflare | Newbie and intermediate investors or users. The UI is simple and the Solflare Academy helps to resolve any issues. Comes with browser, iOS and Android support. Can also help stake via the Ledger Nano hardware wallet for enhanced security. |
| Phantom | Intermediate users and investors. Support bot is provided to help resolve issues. Simple and easy UI. Not suggested for newbie investors because the wallet lets you to stake all your SOL without any alarms, defaults to show you the most popular validators in the top, hence hindering the decentralization of the network and do not label the commission a validator charges in their list, which many users mistake for the APY return they will receive. |
| Sollet | As is claimed by the wallet itself, Sollet is recommended for advanced users and developers. The UI is not that simple as of the Solflare and Phantom. |
| Exodus | If you are looking for a wallet that supports Solana as well as multiple other digital assets, you can go for the Exodus wallet. Offers built in Exchange to buy crypto. |
| Trust | Premium wallet for all users which allows multi-cryptocurrencies and multi-blockchain support. Offers built in Exchange to buy crypto. |
| Atomic wallet | One in all cryptocurrency wallet which supports more than 300 cryptocurrencies. Does not support hardware wallet. |
| Ledger Wallet | If you are looking for security and long term investing go for Ledger Nano S or Ledger Nano X for staking SOL tokens. It is the most secure method of staking SOL tokens (or in fact any other PoS cryptocurrency). |
| Math Wallet | If you are looking for a software wallet that supports multiple cryptocurrencies (over 90) and multiple blockchain platforms including Solana, Ethereum, Cosmos and Polkadot. Customer support can be a bit lagging as compared to other wallets. Reportedly people using iOS have faced certain issues while staking. |
| Clover Wallet | Good for people who are interested in NFTs apart from staking. Provides multi chain and multi currency support including Ethereum, Solana, Avalanche, BSC, Polkadot and more. |
| Zelcore | Good multi chain and multi currency wallet. The Android version is reportedly slower in updating information. |
This guide is not an investment advice. It is my personal opinion. Please undergo proper research before investing in cryptocurrencies.
Disclaimer
If you are sincerely looking forward to invest in cryptocurrency space and hold the investments for long, use a hardware wallet like Ledger or Trezor. These wallets store your cryptocurrencies (keys to cryptocurrencies) in an offline environment which is therefore cannot be the victim of an online hack or malware practice. Storing your digital assets in an Exchange or software wallet often attract online attacks and malwares.
Word of Advice
