What is Harmony (ONE)?
Harmony ONE is a decentralized blockchain network that tries to combat the shortcomings of conventional blockchains by implementing a nuance consensus protocol called Effective Proof of Stake or EPoS. Harmony also aims to reduce its network congestion and increase transactions per second by creating and adding new chains to the network’s mainnet called “shards”. Sharding improves the parallel processing capacity and consequently, enhances the performance of the entire Harmony ecosystem. Harmony is an advanced layer-2 solution for Ethereum but operates as an independent EVM-compatible (Ethereum Virtual Machine) blockchain network. Just like Ethereum with its ERC-20 and ERC-721 standards, Harmony offers fungible and non-fungible tokens in the context of HRC-20 and HRC-721 token standards. ONE, Harmony’s native token, is responsible for the management, staking, and transactions on Harmony. ONE was initially supported by the Harmony Chrome extension wallet. However, according to Harmony’s official website, the Harmony Chrome extension wallet is no longer supported by Harmony itself. The extension can still be downloaded but should be used at users’ own risk. We composed a list of the 5 best wallets for storing ONE tokens for 2022.
MetaMask is a browser-based software wallet that can either be accessed through the MetaMask browser extension or by its mobile application for iOS and Android. MetaMask was originally specialized in storing Ethereum tokens, but nowadays people use it for many other EVM chains as well, and that includes Harmony ONE as well. MetaMask allows you to integrate additional blockchains into the wallet, which makes it a perfect ONE wallet if you wish to use multiple blockchains. MetaMask users can also stake their ONEs within the wallet itself. You can read more about MetaMask and how to set it up here.
Guarda is a non-custodial multiplatform cryptocurrency wallet, currently supporting over 50 major blockchains & over 400K tokens of all leading protocols (including ONE, BTC, ETH, EOS, and so on). All digital assets can be purchased using fiat currencies inside the wallet. Quick crypto transactions and exchanging currencies are also provided within the wallet, along with staking and crypto-backed loans. Guarda wallet’s compatibility includes OS, Android, desktop, and Chrome extension. The minimum amount of tokens for staking is 100 ONEs which can also be unstaked easily via the wallet itself.
As ONE of the most widely recognized software wallets, Trust Wallet is an open-source mobile crypto-wallet that supports over 160K+ assets and blockchains and provides investors with staking options. Trust Wallet was originally designed to only hold the ERC20 and ERC723 tokens but has lately been developed to hold other leading cryptocurrencies such as Bitcoin and Harmony ONE. The wallet has a built-in Web3 browser that allows users to buy cryptocurrencies through the native DEX (decentralized exchange) that operates on the Kyber Network. Trust Wallet users maintain control of the private keys, as private keys are not stored on the wallet’s servers. The wallet is also compatible with both iOS and Android devices.
Frontier is a unique open-source Crypto & DeFi, NFT wallet, allowing users to send, store & invest in 4,000+ crypto assets, including Harmony ONE, Ethereum, Solana, and Matic. You can make passive income by staking your assets in DeFi apps and exploring web 3.0, all from the wallet itself. Frontier does not charge a fee when you swap, lend, supply liquidity or buy cryptocurrencies through the application. Your private keys are custodian by a third party but encrypted.
MathWallet is the multi-chain wallet for Web3 that enables token storage of 100+ chains including Bitcoin, Ethereum, Harmony, Polkadot, Filecoin, and Solana, and is available as a browser plugin, mobile, and web app. The staking rewards are distributed each epoch (≈18h currently) and won’t accumulate automatically. Once the minimum required amount is reached, you can add claimed rewards to a stake.
You can purchase and trade ONE tokens right here on CryptoDesk, and you need a safe wallet to store your tokens. As Harmony grows in size, the number of use-cases and popularity, more wallets are supporting ONE and the Harmony blockchain. The EPoS protocol gives Harmony investors a unique opportunity to make passive income by simply staking their tokens as collateral, so in-app staking could be considered a strong point for a wallet for such blockchains as Harmony.