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Ronin is a blockchain designed exclusively for integration with Axie Infinity, an economic model of a game which allows players to earn cryptocurrencies. Ronin was designed to provide solutions to the problems of scalability and high transaction fees of Ethereum to become an optimal platform to manage Non-Fungible Tokens (NFTs) within the world of Axie Infinity and other associated decentralized applications (dApps). Before we proceed to actually explaining what you may be able to do with the system, let us first explain what you would need in order to create a Ronin-based NFT, store it securely, buy/sell it and manage. This guide discusses what wallets you may use as a Ronin wallet and is focused on the functionality, advantages, and security of these wallets that will help you to make correct decision.
Why Choose Ronin for NFTs?
Ronin is an answer of layer-2 scaling solution designed for eliminating high gas fees and slow transactions speed of Ethereum. Creep by Sky Mavis, the same people behind Axie Infinity, Ronin is a development platform with low gas fees made to be quick in handling digital assets such as NFTs. Thanks to the high Throughput capabilities of Ronin, it has become the primary blockchain for NFTs associated with projects linked to Axie Infinity as well as other games and projects based on blockchain technology.
For this reason, anyone that is a gamer, creator or has an interest in the NFTs or Ronin ecosystem needs to pay close attention to their wallet choice. Now let’s look at some of the most suitable wallets for handling your Ronin-based NFT assets.
1. Ronin Wallet
Ronin Wallet is a non-custodial GUI wallet created for interacting with the Ronin blockchain by Sky Mavis. It is an ‘Independent’ wallet that offers users an easy, safe, and effective means of storing and trading in NFTs and other digital assets based on Ronin. As the built-in wallet for the Ronin network, it is the least complex solution for users who are interacting with the Axie Infinity game and other dApps built on the Ronin blockchain.
Key Features:
- Official Ronin Support: Designed to be a decentralized application, or dApp, that works exclusively with the Ronin blockchain and assets tied to it.
- Non-Custodial Wallet: You own your private keys and cash; you have complete power over them.
- Easy NFT Management: Use the network to bid on, purchase, sell, and trade various NFTs built on the Ronin blockchain.
- Simple Browser Extension: As a browser extension available for Chrome and Brave, we make it simple to engage with dApps and NFTs built on Ronin.
Pros: - RSA compatibility with the Ronin Blockchain.
- Convenient and user-friendly design specifically for operations with NFTs and digital assets on Ronin.
- Authentic wallet created by Sky Mavis specifically for using Axie Infinity and other applications built on Ronin.
Cons: - Works only on the Ronin blockchain and does not allow working with other networks, such as Ethereum or Binance Smart Chain.
- Since it is a browser extension, it may be not very convenient for using on mobile devices and it such persons who are fond of using standalone applications.
2. MetaMask (With Ronin Integration)
MetaMask is one of the most famous cryptocurrencies wallet while it has made changes to add support to the Ronin blockchain. MetaMask was initially intended for Ethereum-based assets only, but its versatility enables the network’s addition and working on Ronin NFTs. MetaMask doesn’t hold funds or control your private keys, which makes it flexible, but also requires you to always keep your funds safe.
Key Features:
- Cross-Blockchain Support: Currently, well suited for users who engage in multiple blockchains as they have added support for Ethereum, Binance Smart chain, and now Ronin.
- User-Friendly Interface: Easy to use interface that does not leave the novice user stranded while simultaneously not as limited as a beginner’s only interface would be.
- NFT Management: Easy access to all Ronin-based NFT and a collection list.
- Security: By using asymmetric cryptography, private keys are stored on the user’s device only and you always possess the private key to your wallet.
Pros: - Mobile wallet that is compatible with multiple blockchains which include Ronin.
- Credible and Familiar to many traders and investors especially within the digital currencies such as cryptos and NFTs.
- Well-liked by Decentralized Applications, as it enables seamless communication with NFT marketplaces as well as other platforms on Ronin.
Cons: - MetaMask can connect to Ronin but the connection has to be set up unlike wallets specifically designed to work with Ronin.
- MetaMask is a hot wallet which means that it is connected to the internet and although this is convenient its security can also be at risk if not employed correctly.
3. Math Wallet
Ronin is a blockchain that Math Wallet supports along with over 70 other blockchains cross-chain wallet. This wallet will enable users to handle multiple forms of tokens, including the NFTs operating on Ronin. Math Wallet has the mobile and a desktop application, and a browser extension to reach NFT platforms.
Key Features:
- Multi-Chain Support: Aside from Ronin, Math Wallet supports numerous blockchains for example; Ethereum, BSC, Polkadot, and many more.
- Web and Mobile Support: Offers the comfort of Web, Mobile, & Browser extension wallets for ease and convenience of use.
- NFT Management: Organize Ronin-based NFTs and other digital assets in easy to use portfolios on our platform.
- Hardware Wallet Integration: Provides the option to connect with hardware wallets for the most secure storage of information.
Pros: - The site supports multiple blockchains and multiple cryptocurrencies.
- This feature allows you the versatility of being able to conduct your asset management from your desktop or on mobile.
- Hardware wallet support is helpful for those who are trying to protect their assets from potential detractors.
Cons: - Some users may find it a little hard to navigate through because of the multiple chain abilities that are found in the application.
- Ronin Layer has fewer features compared to other wallets that are especially designed for Ronin.
4. Ledger Nano S/X (with the inclusion of Ronin integration of security keys).
For the Security conscious clients, the Ledger Nano S and Ledger Nano X is the best hardware wallets. As these are designed for the Ronin network, they also enable offline private key storage for the security of your NFTs on this blockchain. MetaMask or Math Wallet is used for integration with Ronin; thus it is the best for secure NFT operations in Ledger.
Key Features:
- Offline Storage: EY Channel Identity Engine uses private keys that are maintained offline thus offering the highest security.
- Cross-Blockchain Compatibility: Works with Ethereum, Ronin and other large blockchains.
- Seamless Integration with Software Wallets: Allows Ethereum interactions by pairing up with MetaMask and Math Wallet for anyone interested in dealing with Ronin-based NFTs.
- Portable and Durable: Compact with convenient carrying features that include two screens to authenticate transactions.
Pros: - Souce of security for your Ronin-based NFTs, as keys are hold offline.
- Caters for different cryptocurrencies, tokens and NFTs that are built on various blockchain solutions.
- Having several devices, firmware updates assist in the protection frequently being up to date.
Cons: - Must configure with the Ronin via third-party wallets that are additional to integrate with Ronin.
- High initial expenses as compared to software wallets.
5. Coin98 Wallet
Like many other wallets, Coin98 Wallet also offers the ability to manage multiple blockchains, including Ronin. There is a mobile application and desktop version, that makes it easy for managing Ronin-based NFTs and other digital assets in Coin98 Wallet. As a result, it remains suitable for customers who would like a wallet that can host of NFTs on different platforms.
Key Features:
- Multi-Chain Support: It supports Ronin, Ethereum, Binance Smart Chain and other chain as well.
- Cross-Platform Compatibility: The tool is downloadable in form of a mobile application, a desktop application and a browser application.
- NFT Management: The main purpose of the application is to make it easy to operationalize Ronin-based NFTs and facilitate their transfer.
- Integrated dApp Browser: Directly access Ronin based NFT marketplaces and DeFi platforms.
Pros: - Multi-chain platform functionality allowing for reach to the mobile and desk top devices.
Cons: - Probably not as popular as other wallets such as metamask which might not make people comfortable to use it.
It is not as secure as some hardware wallets provide in terms of security.
Conclusion
Determining the appropriate wallet for handling your asset based on Ronin is valuable in areas of safety and convenience. Ronin Wallet is the best for users who are involved in Axie Infinity ecosystem a lot, as the wallet is developed for the Ronin blockchain. Who needs a wallet that would support multiple blockchains? MetaMask and Math Wallet are ideal for such purposes and allow interaction with the Ronin chain. If security is the primary consideration, you won’t find a better solution than Ledger Nano S/X for your NFT assets, while Coin98 Wallet combines a robust set of features to interact with NFTs across multiple networks efficiently.
In the end, it is up to you to decide, what wallet do you need – simple, or one that supports multiple blockchains, or maximally secure one. Selecting the right wallet will help to have a perfect experience in handling your NFTs based on the Ronin blockchain.
Disclaimer: The content provided reflects the authors personal opinions and is influenced by current market conditions. Conduct thorough research before making any cryptocurrency investments. The author and the publication are not liable for any financial losses you may incur.