Looking for the Best Wallets to Store your Stablecoins?

A stablecoin is a form of cryptocurrency whose value is fixed by pegging them to another asset’s price, usually a FIAT currency held in bank accounts. Stablecoins can be pegged to various kinds of support; for example, USD Coin (USDC), Paxos (PAX), and TrueUSD (TUSD) are tokens backed by a 1:1 ratio by money held in the bank accounts.

By pegging to real-world assets such as the US dollar, these coins avoid price volatility synonymous with the cryptocurrency trading markets. Not all cryptocurrencies are pegged to FIAT currencies; some are pegged to other cryptocurrencies, referred to as crypto-collateralized stablecoins. The peg of stablecoins is maintained through over-collateralization and stability mechanisms. 

Stablecoins allow crypto traders to hold fiat value within the cryptocurrency realm without transferring value back and forth between their bank accounts and different exchanges. If you’re an avid crypto trader looking to fix gains or hedge against the high volatility of cryptocurrency markets, you consider stablecoins.

Like cryptocurrencies, stablecoins are stored in wallets to safeguard them against any potential threat. Below are the best wallets for stablecoins. 

The Best Stablecoin Wallets in 2020

  • MyEtherWallet

MyEtherWallet (MEW) is an open-source, easy-to-use wallet. It’s one of the most popular Ethereum blockchain wallets with a wide range of supported coins. Being a non-custodial wallet, MyEtherWallet doesn’t store your private keys. Instead, you only get access to them. The wallet offers the most secure and most intuitive wallet for storing and managing your ETH and ERC20 tokens

MEW underwent a revamp and currently boasts of a host of new features, all contained in an elegant and easy-to-use interface. The wallet is integrated into Bity, Kyber Network, Changelly, and Simplex to allow users to swap fiat to cryptos such as ETH and BTC, and ERC20 stablecoins. Additionally, the wallet offers support for all significant hardware wallets, including Ledger, Trezor, and many more.

MEW allows you to send and receive stablecoins such as USDT. The wallet also constitutes a multi-balance feature, which is extremely useful if you’re seeking to separate savings from day-to-day expenses. The wallet is available on both Web and Mobile (iOS and Android) 

  • Trust Wallet

Trust Wallet is another secure wallet for storing your Stablecoins. The wallet integrates Bank-Grade security standards, thus fully safeguards your Stablecoins from any potential threat. The wallet supports over 160 digital assets, including stablecoins, allowing users to stake their coins and earn interest. The wallet also features a built-in Web3 browser that gives users access to decentralized applications (Dapps) built on the Ethereum platform. 

It’s relatively easy to download, set up, and get started with the wallet thanks to the clean and straightforward user interface. Regarding transaction fees, Trust Wallet is completely free to download and use. There are no initial payments or subscription services. The only cost incurred is gas fees paid to either miners or proof-of-stake chains for processing transactions. 

Trust Wallet offers users easy-to-use applications to spend their Stablecoins anywhere and on anything they want. The wallet is private and secure as users’ personal information remains on the mobile device. Data remains private. 

Some of the supported stablecoins on the wallet include Dai (DAI), Tether (USDT), USD Coin (USDC), Binance USD (BUSD), Paxos (PAX), Gemini (GUSD), TRUE USD(TUSD), Stasis(EURS) and GBP Stable Coin(BGBP). Trust Wallet is available from either Google Play or the App Store. 

  • STASIS Wallet

STASIS wallet is another great crypto wallet for storing stablecoins. The wallet features multi-currency support for both stablecoins such as Dai and cryptocurrencies such as Bitcoin and Ether. In addition to sending and receiving digital assets, Stasis allows for ease of exchange between them within the wallet. This makes it quick and easy to convert volatile crypto investments in bitcoin and ether into more stable alternatives, i.e., Stablecoins. 

STASIS wallet offers delegated transfer for Ethereum-based transactions. This feature allows users to pay transaction fees in ether or EURS rather than buy and hold GAS for transaction fees. 

You’ll appreciate the user-friendly interface that makes a transaction with digital currencies simple and seamless. The wallet is available on both iOS and Android platforms. 

  • Exodus Wallet

Exodus Wallet is an excellent desktop-based crypto wallet that supports over 50 cryptocurrencies, including all stablecoins apart from USDT. The wallet allows you to store, send, and receive your digital assets at meager fees. 

Exodus is an ideal desktop wallet for storing your stablecoins, especially if you’re a heavy desktop user. Users’ private keys are stored in their devices, giving them full control over their assets. The wallet also integrates with hardware wallets such as Trezor and Ledger. The wallet also constitutes a historical chart for monitoring your portfolio. The wallet also has a mobile app (iOS and Android), giving users more convenience in sending, receiving, and exchanging cryptocurrencies.  

  • Ledger Nano S

The Ledger Nano S is the best hardware wallet for storing stablecoins thanks to its extreme security and accessibility ease. The wallet appears like a USB device that can be connected to a computer. It features an OLED display that helps check and confirm all digital transactions. The dimensions of this wallet are 98mm x18mm x 9mm, and it weighs only 16.2 g. 

Ledger Nano S the best level of crypto protection where users’ key remains protected in a certified secure chip. Managing your portfolio is entirely secure thanks to its all-in-one app to secure, own, buy, and manage 27 coins and more than 1500 tokens from your smartphone or computer. The device also offers backup to prevent users from losing all their funds should they get stolen or password forgotten. 

The Ledger Nano S is compatible with desktop computers (Windows, macOS 10.10+, Linux) and phone (Android 7+). You will need an OTG kit to connect your Nano s to your desktop or smartphone.

Closing Words

Bitcoin live price
price change

Stablecoins also referred to as crypto-collateralized stablecoins, are crucial in the crypto space to enable crypto traders to hedge against the high volatility of cryptocurrency markets.  Crypto wallets let you safely store, send and receive stablecoins. When looking to choose an ideal Stablecoin wallet, you would want to consider its security, user experience, and additional features. The wallets discussed in this article are best for storing your stablecoins attributed to their high-end security features, ease of use, and extra features.   

Stay up to date with our latest articles

More posts

Can You Really Protect Your Crypto Investments Against Whales?

It is only natural that the price of BTC changes following whales' transactions. Because altcoins have smaller market capitalizations, this effect is even more pronounced on their prices. The ways whales manage to manipulate the market are inventive and can lead to heavy losses for small traders. In our guide, we look into the matter and reflect on how to protect a wallet against whales. Understanding the Concept of Whales The term "crypto whale" refers to a person or organization…

What Are Fractionalized NFTs?

Most people who use the internet regularly, whether for business or pleasure, are familiar with NFTs. Everyone in the crypto/blockchain community looks at these "Non-Fungible Tokens” with interest.  The only problem is that NFTs are becoming extremely popular and too costly to own.  In this context, Fractional NFTs, or F-NFTs, have entered the market to attract new investors. Imagine dividing a single NFT into smaller parts and making it available for purchase. This concept is the principle governing the growing…

Diluted Market Cap – A Beginners’ Guide

The value of a cryptocurrency is difficult to predict, especially if we are dealing with a new token. If you're looking to invest in cryptocurrency, measures like the fully diluted market cap can guide your choices.  The term "fully diluted market cap” will represent the core of today’s guide. We'll begin by defining the sector's market capitalization before moving on to more advanced notions. Market Cap in the Crypto Industry The total worth of an asset now in circulation corresponds…

Top Crypto Marketing Agencies to Promote Your Cryptocurrency Project in 2022

Nowadays, launching a crypto project can be a daunting task for most developers, especially considering the competition. This report claims that the industry amasses over 18,000 cryptocurrencies as of March 2022. Whether you focus on NFTs, DeFi, or any other crypto-related activity, you will have to face stiff competition. Fortunately, you can gain a competitive advantage over your peers with the help of crypto marketing agencies. These services cover all the promotional aspects your project needs to get into the…

The Difference Between Capped and Uncapped ICOs

Some ICOs decide to set a cap on how many coins investors can buy. However, some people choose to offer unlimited coins at the sale. Different teams can follow different strategies to obtain success in this growing market. Today, our guide aims to make a clear distinction between capped and uncapped ICOs. Understanding the Concept of ICOs An ICO (“Initial Coin Offering”) is a way to launch a new cryptocurrency. ICOs are a way to raise money for a project…

Is It Possible to Spot a Fake NFT?

Blockchain technology should have made life simpler for digital artists selling unique tokens of ownership to other people. A public ledger can give buyers a record of who owns a piece of art in perpetuity. Blockchain gave some artists a new chance to earn money. However, some artists admit that the last year's crypto boom has been a real mess.  Anyone can "mint" a digital asset as an NFT, even if they don't own it. How do you spot a…

Unstoppable Domains – A Beginner’s Guide

Unstoppable Domains are an intriguing and unique new option that is gaining traction in the crypto industry as more people become aware of them. Even though you may be inclined to dismiss them as simply another "crypto craze,” you may not want to be so hasty in your judgment. Whether you have your wallet or just learning about crypto, unstoppable domains have some unique advantages that you might consider utilizing for your website. This post will go over all you…

Understanding How Ripple’s Interledger Protocol Works

Payment networks are now fragmented and disjointed. Transferring money within a nation or between accounts on the same system or ledger is quite simple. The same goes for transferring money between accounts on a different network or ledger. In most cases, however, transmitting data from one ledger to another is unfeasible. Even in places where connections are available, they are often manual, sluggish, or costly. Ripple’s Interledger Protocol allows the routing of payments across multiple digital asset ledgers. Meanwhile, it protects both…

3 Meme Coins Still Riding the Meme Wave and Ready to Explode

With Elon Musk on the verge of buying Twitter, his pet crypto, Dogecoin, could rise to new heights of popularity and demand. However, DOGE is not the only meme coin ready to burst on the scene in 2022. Others are waiting for a signal to show the meme wave is not only alive and well but rising too. Meme coins started out as a joke. In a market dominated by raging bulls and bears shifting crypto prices by the thousands…

Intel’s Blockscale – A New Bitcoin Mining Chip

Earlier this month, Intel announced Blocksale ASIC, the company's second-generation Bitcoin mining chip. Intel plans to deliver the new chip for the third quarter, which it claims will be more energy-efficient. What does this news mean for Intel and the blockchain sector? How will Bitcoin miners react? Intel’s Second Attempt to Attract Crypto Miners Intel's first mining chip, named Bonanza Mine, is a 7nm process packed in lots of 300. We can speak of a 3,600W mining machine with up…