One of the best places to store Solana (SOL) will be an encrypted hardware wallet like those made by Ledger. Hardware wallets use extremely high end encryption techniques to keep your funds safe and secure from sophisticated network attacks or even simple phishing scams that users keeping their funds in a software or website wallet may encounter. Hardware wallets even allow users to recover funds via a mnemonic seed phrase just in case the wallet is stolen, damaged or otherwise compromised.

Ledger has entry level models available for around $50-$60 USD with the Ledger Nano S being the best all-round performer in terms of features for the price. Ledger devices will be capable of storing Solana (SOL) in the near future, keeping it offline and secure.

Solana (SOL) can be stored in any of the officially listed SOL wallets, a wallet with Android, iOS and several browser versions available. The Trust Wallet, Ledger Live Wallet and even a Paper Wallet are all excellent options when deciding where to store SOL.

Wallets that offer both mobile and desktop versions are extremely convenient but can also be less secure simply due to the Team having to ensure no exploits are present on all versions. In our opinion it is essential that you only install a desktop wallet on a clean, secure machine that has little to no access to the Internet. Mobile wallets are often regarded by some as safer due to malware not being as prevalent on mobile operating systems.

Solana (SOL) can be sent directly to any of the wallets listed above and we’re expecting more traditional wallets such as Trust Wallet, Atomic Wallet and Exodus Wallet to eventually support the storage of SOL tokens in the near future.. Visit the official Solana Wallet page for a full list of SOL wallets.

If you’re an active Trader who requires quick access to funds, you can also store Solana (SOL) on an Exchange that supports it. While we cannot recommend leaving any funds on Exchanges at any time, Exchanges such as Binance, Kucoin and Huobi have a long history of security and have been reliable to their Customers even after an attack.

Exchanges such as Binance and Kucoin do offer staking services to Customers who rely on them to keep their funds safe which has made this a more attractive option for those who wish to run less wallets or cannot meet the full requirements to stake.

While we’ve seen funds returned to Customers after hacks in the past, keeping any amount of Solana (SOL) in the care of a third-party will always inherit a certain amount of risk, which can be avoided with some of the previously listed solutions.