Create a Wallet
ERC-20 supported wallet is needed (ex: Metamask, Trust Wallet)
To get started on CoinCollect, the first thing you'll need is to set up a wallet that supports Polygon Network (EVM based - ERC-20 ). Wallets are available both on desktop and mobiles. You'll need to choose the wallet that fits your needs best.
When you're setting up a wallet, be sure to:
- ✅ Download and install only the latest version from an official source.
- ✅ Follow the setup guide carefully.
- ✅ Safely back up your recovery phrases.
- ❌ NEVER share your recovery phrases with anyone, under any circumstances.
- ❌ NEVER input your recovery phrase to a website or app, other than your wallet app.
Mobile device wallets and desktop-based wallets have different strengths and weaknesses. Consider which fits your needs better to help decide which type of wallet to use.
| Mobile | Desktop |
Use anywhere | ✅ | ➖ |
Easy to use | ✅ | ➖ |
More secure | ➖ | ✅ |
Accessibility friendly | ➖ | ✅ |
Damage/loss/theft resistant | ➖ | ✅ |
Power/connection outage resistant | ✅ | ➖ |
Smartphone/Mobile wallets allow you to access your crypto almost anywhere. Wallets are available on both Android and iOS devices.
This comparison table gives an overview of the most popular mobile wallets.
| Trust Wallet | MetaMask | Token Pocket | SafePal |
Polygon (Matic) Network support | ✅ | ✅⚠️ | ✅ | ✅ |
Built-in DApp browser | ✅ Android ✅ iOS | ✅ Android ✅ iOS | ✅ | ✅ |
Hardware wallet compatible | ➖ | ✅ | ➖ | 🔶 |
Open source (auditability) | ✅ | ✅ | ✅ | ➖ |
Interact with PolygonScan (for advanced users!) | ✅ | ✅ | ➖ | ➖ |
⚠️ Requires some setup
🔶 Only supports SafePal hardware wallet
You can find more in-depth information about each wallet below, as well as download links and installation guides.
MetaMask
CoinBase
TrustWallet
TokenPocket
SafePal
MetaMask is a very popular browser-based wallet plugin that supports ERC20 (Polygon Network & Ethereum network) and BEP2 & BEP20 (Binance Chain and Binance Smart Chain networks).
Pros:
- Open source for auditability
- WEB3 capable on PolygonScan & BscScan
- A strong history of security and reliability
- A large amount of how-to guides and resources online
- Many tools and custom settings
- Offers ETH purchases with Transak
- Supports a very large number of languages
- Is also available a browser plugin for desktop devices
Cons:
- Longer setup time than other options
- Additional steps needed to use with Polygon Network & Binance Smart Chain
- Extra information and settings may confuse beginners
Millions of users choose Coinbase Wallet to earn yield with DeFi, swap more than 5,500 assets, and hold their NFT collections. Coinbase wallet supports ERC20(EVM based) Polygon - BEP2 & BEP20 (Binance Chain and BNB Smart Chain networks).
Highlights:
- Most downloaded mobile dapp wallet in the United States with 12M+ active Wallet users.
- No additional steps needed to use with Polygon & BNB Smart Chain.
- Premier audience: Up to 89M+ Coinbase retail app users to onboard to Coinbase Wallet as they start to explore web3.
- Easy to transfer assets from Coinbase retail app.
- Fiat On-ramp: Users can now directly purchase crypto with fiat in all 86 countries where Coinbase operates, without leaving Wallet.
- Industry leading security with secure cloud backup.
Trust Wallet is a popular wallet for smart devices. It supports DApps, NFT collectibles (with Opensea.io support), and in-wallet staking.
Pros:
- Open source for auditability
- Backed by the Binance cryptocurrency exchange
- Easily switch between several crypto networks
- Includes networks by default
- Includes in-wallet staking options
- Has additional features such as NFT collection, BNB staking, and DApp access within the wallet
Cons:
- Language tied to phone settings
- Limited DApps
- Transaction notifications can be delayed
tokenpocket and polygon
Token Pocket is a cryptocurrency management app that natively supports many cryptocurrency networks. It also has a desktop application available.
Pros:
- Open source for auditability
- Allows users to easily switch between many crypto networks
- Supports many networks by default
- A less cramped user experience than browser plugin wallets
- Is also available as desktop software devices
Cons:
- Only supports Chinese and English languages
- Has some issues with the English translation
- Has fewer online resources than more established wallets
SafePal is available as both a software and hardware wallet. The wallet is easy to install and create, and comes ready to support Polygon Matic ERC20 & BEP2 (Binance Chain) and BEP20 (Binance Smart Chain) right away.
Pros:
- Easily switch between several crypto networks
- Offers 25% fee discount paying with BNB (requires login)
- Has the option for Google Authenticator built in
- Supports a large number of languages
- Setup process is very simple
- Is available as both a software and hardware wallet (work together)
- Supports NFTs on both the BSC and ETH networks (including Polygon)
Cons:
- Isn't fully open source
- Has some features that are not yet ready for use (such as DeFi)
- Does not give user notifications
- Does not enforce strong security during initial setup and wallet creation
- Has fewer online resources than more established wallets
Last modified 1yr ago