What is DAI Wallet?

DAI is one of the very famous stable coins, released in 2017 by Maker, which is backed by Collateralized Security Debt (CDB), which runs without the intervention of any central authority. DAI is pegged to the US dollars, itself that use the economic incentives to maintain a peg against the dollar. DAI aims to transform the financial industry by enabling businesses and individuals to realize the advantages of the stable coin without experiencing any volatility like the non-stable coins like Bitcoin, Ethereum and so on.

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List of 7 best DAI wallets in 2020

The top 7 DAI wallets in 2020 are:

Ledger Nano S

Trezor

Ethos Universal Wallet

MyEtherWallet

MetaMask

Edge Wallet

Coinomi

#1 Ledger Nano S

Ledger Nano S is one of the very popular hardware wallets in the crypto space, which enables the users to make any kind of transactions, just with one click. You can manage your assets with the help of a PIN and can back up with the help of a passphrase. You just have to connect it with your system and it acts as a USB device, which comes with enhanced security and safety features.

Click here to download Ledger Nano S

#2 Trezor

Trezor is a competitor to ledger Nano, and stores more than 500 cryptocurrencies, of which DAI plays an integral part as one of the most popular stable coins. This also works like a USB device, which when connected to your device, helps you store, send and receive DAI and other digital assets, with a secured PIN. The setup process is pretty easy, where the beginners can also operate with convenience.

Click here to download Trezor

#3 Ethos Universal Wallet

Ethos has enlisted both MKR and DAI tokens, wherein they have partnered with Ethos, and is a secure multi-token wallet, which is safe and easy to access, by all kinds of users, be it beginners or experts. The users can access it instantly, from anywhere, free of cost. Just remember not to leave your assets at risk on a centralized exchange. You just need to keep it safe from any kind of hackers. This is one of the best DAI wallets Android and DAI wallets iOS.

Click here to download Ethos Universal Wallet

#4 MyEtherWallet

MyEtherWallet is known to be the official wallet for all ERC20 tokens, of which DAI is an important part. MyEtherWallet is one of the most secured DAI wallets online, which enables you to store, send, and receive digital assets. It is a web-based ERC20 specific wallet, which lets you create a wallet online, and you can access it with the help of an internet network.

Click here to access MyEtherWallet

#5 Metamask

Metamask is an extension, which supports chrome, brave browser, google chrome to name a few. This is one of the most favorable wallets for the ERC20 tokens, as per the user's review and choice. You just have to add that as an extension and the next thing you do is very easy. You can vouch for this as one of the safest ERC20 wallets in the crypto space.

Click here to add Metmask to your browser.

#5 Edge Wallet

Edge wallet is one of the most prestigious multi-currency wallets, which can be used even by beginners. You can buy, store and trade multiple cryptocurrencies in a single app, where you are in total control over your private keys. Edge is focused on user privacy and security, hence they adhere to cutting edge technology where the users can have secure access with just a PIN or touch ID.

Click here to access Edge Wallet

#6 Coinomi Wallet

Coinomi is one of the oldest multi-platform, multi-chain cryptocurrency wallets available, trusted by over 2.5 million users. It is a Hierarchical Deterministic wallet that offers native support for over 125 blockchains and 1770 tokens and implements the strongest standards of security and privacy. It supports multi-seed setups, and each seed phrase can have its own encryption settings, according to its use case. No user data are ever collected by Coinomi, while users' IP addresses are obfuscated for total privacy. Coinomi was one of the first wallets to offer native segwit for BTC and 14 more blockchains, and users can switch between native segwit, compatibility, or legacy address formats with the click of a button. Users enjoy full control of their transaction fees and UXTOs in Coinomi while its UI is hailed as one of the most intuitive in the space, suitable both for first-timers and advanced users. Coinomi is translated in over 25 languages and boasts 175 Fiat representations as well.

Click here to access Coinomi Wallet

CoinSwitch enables businesses to convert over 300 cryptocurrencies with our powerful Fixed and Dynamic rate APIs. CoinSwitch exchange APIs are being used by many top cryptocurrency wallets across the globe like Trezor, Exodus, imToken, Guarda etc. Are you interested in providing your users an option to exchange coins within the wallet? For more information please reach out to partnership@coinswitch.co or refer our API documentation.

About CoinSwitch

CoinSwitch.co is the world’s largest cryptocurrency exchange aggregator which supports 300+ coins and over 45,000+ pairs. It provides an easier way of trading through global exchanges like Binance, KuCoin, IDEX, Huobi, Ethfinex, HitBTC and Cryptopia without creating an account on them. If you are interested in buying cryptos, do give it a try!

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