NEAR Protocol Wallet Choosing Guide

NEAR Protocol is a revolutionary layer 1 blockchain that uses sharding to enhance the speed and efficiency of blockchains. YouHodler’s crypto wallet features a NEAR wallet as well in addition to several other popular coins and tokens. If you have NEAR and want to find the best wallet to receive, send, store, exchange, lend and multiply NEAR, then see why YouHodler is right for you.

Key talking points:

• Learn what a NEAR wallet is and how they work
• Understand the main features of a NEAR wallet
• Learn about NEAR wallet security
• Compare different types of NEAR wallets
• Discover what NEAR wallets are best for you

What is a NEAR wallet?

A NEAR wallet is a physical device, software, or service that stores the public and private keys for cryptocurrency transactions. In addition to storing keys as a simple function, some cryptocurrency wallets also advanced functionality such as staking, encryption, lending, and more. 

How does a NEAR wallet work?

While the name is here to stay, calling NEAR crypto storage a wallet isn’t exactly true. It’s not a wallet in the traditional sense of the word because the crypto exists on the blockchain and not in some physical location. The way a NEAR wallet works however is quite simple. First, the wallet software creates a set of keys; a public key and a private key. These keys are necessary to send and receive cryptocurrency. The public key is shared with the public so others can send you NEAR. Just like they would send you mail to your mailing address. Meanwhile, a private key is another string of letters and numbers that is related to the public key but for the wallet holder only so he can access the blockchain. 

Main features you need in a NEAR Protocol Wallet

When researching your NEAR Protocol wallet, make sure it comes with the following features:

• Security and privacy
• Low or custom NEAr transaction fees
• Two-factor authentication (2FA)
• Fiat onramps and offramps
• Low minimum deposit amount
• The ability to lock and unlock withdrawals at will
• Complete crypto exchange capabilities
• Customer support
• Multi-chain support
• Multisig
• Bonus features like Yields accounts, trading tools, and loans. 

Do I need a NEAR Protocol Wallet to Buy or Trade NEAR?

Yes! Thankfully, YouHodler makes it easy for you to get one. Just download the YouHodler app or visit our website to create an account and you’ll see your NEAR wallet waiting for you. We have a short KYC process but it’s done in minutes. 

Are all NEAR wallets secure?

Not all NEAR wallets are secure but YouHodler is. We have both 2FA and 3FA encryption features for you to ensure maximum security. We also run regular security audits to make sure our backend processes are locked uptight. On top of that, we also have insurance from Ledger Vault as an extra layer of comfort. We do our best to keep our clients safe. 

Are all NEAR Wallets Free? How Much Does It Cost to Use a NEAR Protocol Wallet?

At YouHodler, we believe crypto should be for everyone. That means access to wallets and financial services should be free also. Other wallets may charge you a fee to use them and if you want to try those wallets, be our guest. But we prefer to help you maximize the profit potential of your portfolio. Not charge you fees that hold you back. 

How to deposit and withdraw from NEAR Protocol Wallet

To deposit NEAR to YouHodler, follow these steps:

• Log into your YouHodler account or sign up if you don’t have one
• Find your NEAR wallet
• Click “deposit NEAR” and follow the simple instructions
• Track the progress of your transaction and wait for the funds to arrive
• If the funds don’t arrive after several hours, please contact support.
  

To withdraw NEAR from YouHodler, follow the same steps but click “withdraw” instead of a deposit. Take note that blockchains can get congested so please exercise patience if your transaction is taking longer than normal.

Types and differences of NEAR Protocol wallets - How to choose the right one for you?

NEAR Protocol wallets come in all sorts of lovely shapes and sizes. So finding the best one for you should be a relatively easy task. Here are a few different types you can explore. 

Desktop NEAR wallet

As its name suggests, a desktop NEAR wallet is one that’s installed on a desktop computer or a laptop. Users get complete control over the wallet just as they would with a mobile wallet, just in a desktop environment. The main difference is that some desktop wallets have more advanced functionality like the ability to operate a complete node or full crypto exchange integration. 

Mobile NEAR wallet

More or less, a mobile NEAR wallet performs the same functions as a desktop wallet but on a mobile device such as a smartphone. Mobile NEAR wallets are often more convenient due to their portable nature and the ability to scan QR codes for quick crypto transactions in stores or between peers. There are NEAR wallets for all types of operating systems like Android or iOS. 

Web NEAR wallet

Web NEAR wallets are wallets that exist on a website or online service that allow users to send and receive cryptocurrency in addition to storing it. These wallets can be accessed anytime, and anywhere as long as there is the internet. Some of the most popular crypto services in the world are web wallets such as Coinbase, Kraken, Binance, and YouHodler. Security is a concern for web wallets but that can be managed with due diligence to make sure the web wallet you choose has a good history of high-level security and insurance. It’s also wise to use web wallets in tandem with the more secure hardware wallets. 

The Best NEAR Protocol Wallets

There are countless articles out there dissecting different crypto wallets, trying to decide what is the “best NEAR Protocol wallet.” To be honest, there is no “best NEAR wallet” for us as a collective whole. However, there is a NEAR Protocol wallet that is best for you and that depends on your wants and needs. At YouHodler, we tried our best to create a diverse, multi-faceted wallet that appeals to all sectors of the crypto industry. Is our wallet the best NEAR Protocol wallet? Well, that’s for you to decide. 

Best NEAR Protocol Wallet for Beginners

When asking what the best NEAR Protocol wallet for beginners is, it’s important to first dissect what a beginner demands from a NEAR Protocol wallet. Most importantly, is a user-friendly interface. Beginners who are new to crypto are taking in tons of information every day and they don’t need a complicated app on top of that to learn. Clean, simple interfaces are best for beginners with minimal navigation required. That’s why we designed YouHodler’s interface to appease beginner users with simple designs, clear buttons, and plenty of information databases to dig into. 

Best NEAR Protocol Wallet For Advanced NEAR Protocol Users & Investors

Advanced NEAR Protocol users and investors also appreciate clean simple interfaces on their NEAR Protocol wallet; however, they also want something flexible enough that meets their high demands. Advanced crypto traders want a wallet with low transaction fees, built-in crypto exchange capabilities, advanced security, staking features, and advanced financial services like loans and crypto trading. Advanced users are busy people and they can’t be bothered using multiple apps for different activities. That’s why we designed YouHodler to be the true one-stop-shop solution for advanced users with a wide array of FinTech services to fit their every need. 

Best NEAR Protocol Wallet for Mobile Users

We live in a mobile world that’s only getting more decentralized. Our phones are our gateways to the universe (and soon the multiverse). That’s why when choosing a NEAR Protocol wallet, mobile flexibility should come into play. YouHodler’s mobile wallet for Android and iOS comes with all the great features found on the web version. Hence, you can trade, multiply crypto, lend, earn, and more all on the go. Most importantly, we have 2FA, 3FA for mobile wallets to ensure your security is always top-tier. Activate your crypto anywhere in the world with the YouHodler mobile app. 

Best NEAR Protocol Hardware Wallet

As mentioned earlier, it’s a smart idea to buy a NEAR Protocol hardware wallet to use in cooperation with your mobile or web wallets. NEAR Protocol hardware wallets are ideal for the long-term storage of crypto assets. Ideally, you want to keep some on a mobile or web wallet for payments, trading, and staking while keeping the rest safely in a secure hardware wallet. The Ledger series of hardware wallets are extremely popular and recommended by most advanced crypto users. Trezor is another brand worth mentioning. 

Best NEAR Protocol wallet for software storage

Once again, this comes down to the idea of “not your keys, not your crypto.” The best NEAR Protocol wallet for long-term software storage are wallets where you fully own the private keys. It’s best to use this in combination with more diverse web wallets to enjoy the benefits of both worlds. 

Best NEAR Protocol wallet for security

The best NEAR Protocol wallets for security are the ones that prioritize security. Stay away from wallets that don’t have PIN options, 2FA, or basic security features. YouHodler has a PIN or thumbprint required to enter the app in addition to 2FA and 3FA upon request. We also run regular security audits to ensure our walls are strong and impenetrable. Lastly, we are backed by Ledger Vault and Fireblocks for insurance and secure crypto transaction management solutions.

Best NEAR Protocol wallet for android users

While the battle between iPhones and Android phones wages on, it’s nice to know that crypto doesn’t pick sides. Most--if not all--of the most popular NEAR Protocol wallets can be found on both Android and iOS operating systems. 

Click here to download YouHodler for Android. 

Best NEAR Protocol wallet for iOS Users

We’re also at the Apple store too! Click here to download YouHodler for iOS and ready all about our NEAR Protocol wallet functionalities for your iPhone.