Discover the Best and Most Secure Starknet Wallet for Holding Your STRK: A Comparison
Did you know that in 2023, $2.6 billion worth of crypto was stolen, as reported by Decrypt? You surely don’t want to find yourself among those whose life savings were taken and their lives ruined.
Knowing that such misfortunes can happen easily, keeping your digital assets safe isn’t just a wise idea – it’s necessary. This is why choosing the most secure Starknet wallet can make the difference between financial peace of mind and potential ruin.
This article addresses the concerns of both newcomers and crypto enthusiasts who seek the best, most secure wallet to hodl their STRK tokens.
Why You Need to Secure Your Starknet Tokens
The Starknet token is a valuable asset and offers significant benefits, surpassing those of any other Layer-2 (L2) token. Why?
Because the STRK token has great utility:
- It serves as the governance token of Starknet.
- Starknet, with native account abstraction and ZK technology, stands as the most powerful Layer 2 on Ethereum.
- STRK can be used to pay gas fees on Starknet.
- STRK can be staked to secure the network and earn yield (available soon).
Understanding Starknet Security Risks and How to Mitigate Them
As the Starknet ecosystem grows, it’s crucial to stay aware of potential security risks that could impact your digital assets. Like any other blockchain network, Starknet is vulnerable to issues such as phishing attacks and user errors. One of the main Starknet security risks is interacting with malicious dApps. Since Starknet is decentralized, anyone can develop and launch applications. Without proper vetting, users may unknowingly engage with unsafe or exploitative protocols, risking their funds. To avoid this, we recommend connecting only to dApps featured in Braavos’ dApp Gallery, which helps protect against malicious links.
Private key management is another critical concern. If your private keys are compromised, attackers can fully access your funds. To minimize these risks, it’s important to follow best practices, such as using a wallet with multi-factor authentication (MFA). Braavos, for example, offers advanced security features like biometric 2FA, 3FA, and Multi-Owner Accounts, which provide stronger protection.
By staying informed about Starknet security risks and using a highly secure wallet, you can greatly reduce the chances of falling victim to scams or exploits, keeping your STRK tokens safe.
Not All Wallets Are Good for Hodling Your STRK
Are you thinking of using MetaMask or hardware wallets like Trezor/Ledger on Starknet?
Unfortunately, they won’t meet the standards. They aren’t compatible with Starknet.
Luckily, there are secure Starknet wallets with Two-Step Verification (2SV), Two-Factor Authentication (2FA), Three-Factor Authentication (3FA), and even Multi-Owner Accounts (each of them with 3FA) for wealthy retail investors and organizations who need maximum protection for their funds.
Smart Wallet: The Most Secure Way to Hodl Your STRK
Smart wallets, or smart contract wallets, are setting a new standard in terms of UX and they come with unprecedented security features.
Creating a smart wallet is effortless, plus you can easily onramp funds directly from your wallet.
As of now, four wallets are available on Starknet. Let’s take a look at their security level:
- Braavos: With 3-Factor Authentication (3FA), Braavos is the most secure wallet for safeguarding your STRK tokens.
- OKX: With a basic 1-Factor Authentication (1FA), OKX offers a good balance between simplicity and security.
- Argent X: With traditional 2-Step Verification (2SV), Argent X offers somewhat enhanced protection.
- MetaMask Snaps: As an extension of MetaMask, it comes with 1-Factor Authentication (1FA), and provides basic security.
Most Secure Wallets for Starknet Tokens (STRK): A Comparison
(⭐ 1FA, ⭐⭐ 2SV , ⭐⭐⭐ 2SV Decentralized , ⭐⭐⭐⭐2FA , ⭐⭐⭐⭐⭐3FA)
Bottom Line
The best and most secure Starknet wallet to hodl your STRK is Braavos. With 3FA security and a Multi-Owner Account feature, Braavos ensures your Starknet (STRK) tokens are secure so you can sleep well at night.
