Nami Wallet is a light wallet for Cardano. You do not need to download an entire copy of the Cardano blockchain to use it as you would with Daedalus Wallet.
Nami uses the Blockfrost API infrastructure to communicate to the Cardano blockchain quickly and efficiently, allowing you to easily send and receive assets, stake your ADA, and participate in NFTs and DeFi.
In this article, we will review the wallet’s features, pros and cons to determine if it is the right Cardano wallet for you.
Overview of Nami Wallet Features
Supports Sending, Receiving of All Cardano Assets & Staking of ADA
Nami Wallet supports all Cardano native assets. Whether it’s LP tokens you receive from liquidity on a DEX or assets from swapping or airdrops, Nami will support them all.
The wallet supports staking your ADA directly from the interface or via a third-party decentralised application (dApps).
As a user, you can manage sub-accounts under the main wallet. This allows you to have multiple accounts for different reasons, e.g. DeFi, NFTs, trading, receiving of assets and payments, etc.
This makes it much easier to track where assets may be going.
All sub-accounts are managed under the same seed phrase for your wallet.
Simple Transaction History
You can easily keep track of incoming and outgoing transactions via the transaction history within the wallet. It displays the most recent transactions that have passed through the wallet.
Wallet customisations such as naming each sub-account, giving it a custom icon, light and dark mode, USD or EUR currency denomination and the ability to change your wallet sending/verification password are all easily done within the wallet settings.
You can easily change the wallet to the various networks available on Cardano from Mainnet, Preprod and Preview. This allows you to participate in testing and beta versions of various DApps without using your ADA tokens for testing.
You also can streamline and fast-track your transactions by using a custom node. This allows you to connect to a private node from a stake pool operator or even connect Nami to your Daedalus Wallet full node running on your computer or network at home.
Hardware Wallet Support
For the best security, Nami allows for the connection of a hardware wallet where the private keys never leave your wallet and stay safe while sending assets or interacting with Cardano DApps.
The extra layer of protection helps users secure their crypto assets.
Website Whitelist Management
Manage which websites Nami Wallet is allowed to connect to when interacting with DApps. If a certain DApp or website is compromised, manage access and remove it from your whitelist to secure your wallet access.
FAQs About Nami Wallet
How to Lock Nami Wallet?
At this point, there is no lock feature for Nami Wallet. Anyone using your computer where Nami Wallet is installed can open the wallet and see its assets.
The wallet does require a sending password for any transactions on the wallet which ensures only the password holder can move assets out of the wallet.
How to Reset Nami Wallet Password?
You can reset the Nami Wallet sending and signing password under the settings area of the wallet.
Click on the wallet icons to open the options menu.
Click on “Settings”.
Click on “General Settings” and then “Change Password”.
You will need the wallet’s current password to be able to change to a new one.
Enter your new password and then re-type it again to confirm the new password, and you’re done.
How to See Nami Wallet Seed Phrase?
Once you’ve set up your Nami Wallet, you won’t be able to obtain the seed phrase again. Be sure to have it stored securely so that you can restore it if you move to another device or uninstall the Nami Wallet from your device.
If you do not have your seed phrase, but still have your signing password, you can set up a new Nami Wallet in a different browser or device and send all of the assets from your old wallet to the new wallet.
If you lost your seed phrase and your sending/signing password, your assets are forever stuck within that wallet.
How to Restore Nami Wallet?
Restoring your Nami Wallet is an easy process.
When installing Nami Wallet on your browser, choose “Restore” instead of New Wallet and enter your 24-word seed phrase.
Click next, and you will have restored your wallet.
Note that all your sub-accounts may not appear at first, and you will need to add sub-accounts for them to appear.
Is Nami Wallet Safe?
Yes! Nami Wallet is a well-known and trusted wallet in the Cardano ecosystem, created by a leading pioneer in the Cardano space, made to fill the gap of a missing wallet for Cardano DApps and interactions with smart contracts.
The wallet is now fully owned and supported by the Lace Wallet team from Input Output Global, which is currently contracted to build the Cardano blockchain.
Does Nami Wallet have an App?
No, Nami Wallet doesn’t have an App for iOS or Android.
Does Nami Wallet Work on Mobile?
No, Nami Wallet is a desktop-only wallet used in Chromium-based browsers such as Google Chrome, Brave and Microsoft Edge.
Pros of Nami Wallet
There are a lot of good Pros when it comes to Nami Wallet. Here is a short list of what we think Nami Wallet has going for it.
- Lightweight and fast to install and get started
- Hardware wallet support
- Feature-rich but simple interface
- Ability to change to a custom node
Cons of Nami Wallet
There are also a few Cons for Nami Wallet. These are not deal breakers but can be improved to make it a better wallet for Cardano.
- Lack of updates until the takeover from IOG
- No inbuilt security measures such as Cardano Shield
- No mobile support
- Reliance on one single infrastructure provider, Blockfrost.
- Odd wallet issues from time to time
Getting Started Using Nami Wallet
If you like what you see with Nami Wallet, follow our getting started going in setting up and installing Nami Wallet.