There’s hardly any crypto enthusiast out there that hasn’t heard about Ethereum, the world’s second-biggest cryptocurrency. Created by Vitalik Buterin, this blockchain with smart contracts functionality went live in July 2015.
Ethereum is one of the most innovative digital projects in the world. Not only is it a perfectly good cryptocurrency, a payment method, but it also serves as a platform for a myriad of different exciting digital projects, many of which are revolutionary in their own right. Ethereum was the project that kickstarted the DeFi and NFT crazes and has many other revolutionary plans in store.
Ethereum has incredible usability and is loved by professional and retail investors alike. It is a great digital asset to invest in. We’ve already talked about how you can buy it and mine it, and now it’s time to discuss how you can store it.
The Best Ethereum Wallets Available
There are tons of good Ethereum wallets on the market right now – after all, this cryptocurrency has been around for quite some time now, and both its own popularity and the popularity of crypto in general ensure there are a lot of companies out there that want to create products for it.
If none of the wallets we talk about in this article suit you, you can always find the perfect Ethereum wallet using this handy tool on the coin’s website. Just pick the features that you want your crypto wallet to have and then choose one of the wallets from the list presented to you.
Types of Ethereum (ETH) Wallets
There are many different types of wallets, and which one will be best for you depends on what you want to do with your crypto, what qualities you value more (e.g. usability vs privacy), what price you are willing to pay, and so on. Here’s an overview of the different types of crypto wallets you can get to store Ethereum.
Software crypto wallets are basically apps that you download onto your computer or mobile phone. They are extremely convenient and most have very intuitive interfaces.
Software wallets usually offer a wide range of different features, such as in-wallet exchanges or purchases. Additionally, they make it easy to manage your portfolio and interact with the crypto world by aggregating crypto news and prices.
They are connected to the Internet, so they are technically less safe than hardware wallets, but many software wallets have top-notch security that makes sure your funds will be safe.
Custodial vs. Non-Custodial Ethereum Wallets
If a wallet is custodial, it means that somebody other than yourself will hold your private keys (a piece of cryptography that gives access to your funds). While that may seem scary at first glance, in reality, it can be just as safe as non-custodial wallets (where you are the only person in control of your private keys).
Custodial wallets offer higher usability in return for slightly less privacy. They are also more beginner-friendly, as they give you a bigger margin for mistakes: if you lose your private keys, you will still be able to easily access the funds you have stored in your custodial wallet.
Great examples of custodial wallets are any exchange wallets like Binance or a hot wallet like Freewallet.
Hot Ethereum Wallet vs Cold Ethereum Wallet
The biggest difference between hot and cold wallets is that while the former are connected to the Internet, the latter are not. While this makes hardware wallets slightly more secure, it also makes them slightly harder to use for day-to-day transactions.
Nowadays, hot wallets are not that much less secure than hardware ones, and cold wallets offer features that make it easy to carry out transactions and manage your portfolio. At the end of the day, it’s up to you to decide whether you prefer the safety of having your crypto and keys stored on a physical device or the ease of making transactions that hot wallets offer.
Many modern crypto investors use a combination of hot and cold crypto wallets to manage their portfolios. For example, some of them store their long-term investments in a hardware wallet like Trezor, and the crypto they use for day trading and everyday transactions on a hot wallet.
Web Ethereum Wallets
Web wallets are crypto wallets that can be accessed from any web browser. Sometimes they come in the form of an extension (most usually for Chrome).
Web wallets are not the most secure as they are the easiest to reach for hackers, but they are an excellent option for people who don’t want to rely on a single device, be it a hardware wallet, a phone, or a PC.
Desktop Ethereum Wallets
Desktop wallets are crypto wallets that get installed on your computer as an app. They are quite convenient and usually have really sleek and user-friendly interfaces, as well as a ton of useful features.
If you use a desktop wallet, don’t forget to install reliable antivirus software. Although they have many security protocols in place, desktop wallets are still vulnerable to malware.
Mobile Ethereum Wallets
Mobile wallets are crypto wallets that get installed on your phone. They are incredibly convenient and are probably the most beginner-friendly type of crypto wallets.
Due to how easy it is to make and publish apps on the App Store/Google Play, there are quite a lot of less-than-reliable mobile wallets out there. Be sure to check reviews before you download any wallet and entrust your funds to it – its developers may be scammers.
Hardware Ethereum Wallets
Hardware wallets are USB stick-like devices that are not connected to the Internet.
No matter what hardware wallet you use, you can be sure that your digital assets will be kept safe. Although some hardware wallets are rather clunky and pricey, they are worth it if you want to store large amounts of crypto.
What Is the Best Ethereum Wallet for Mining?
What the best wallet for Ethereum mining is will depend on how much Ethereum you mine and what you plan on doing with your ETH after you get it. If you want to sell it off immediately or in the near future, we recommend using hot wallets. If you mine a lot of ETH and are looking for a safe wallet to store it in, we recommend a hardware wallet like Trezor, Ledger, Keystone, BC Vault, or a paper wallet.
List of Best Ethereum (ETH) Wallets
There’s no such thing as the best Ethereum wallet – but you can find one that’s “the best” for you. Here are some of our favorite Ethereum wallets.
1. Ledger Nano X (Hardware Wallet)
Ledger Nano X is rightfully one of the most popular hardware wallets on the market. It couples incredible security with a highly intuitive interface and a ton of useful features.
Ledger hardware wallets look and act like a USB stick but offer much more than just a place to store your crypto: you will also get access to Ledger Live, a desktop app that will let you easily purchase and exchange crypto within its interface. Ledger Nano X also has Bluetooth, allowing you to easily connect it to your mobile devices.
Ledger Nano X is considered by many to be the safest Ethereum wallet and is a great choice for anyone who doesn’t want to compromise usability for security.
2. Ledger Nano S (Hardware Wallet)
Ledger Nano S is a budget alternative to the company’s flagship product, Nano X. However, don’t let its (relatively) cheap price fool you: this device is incredibly powerful, durable, and reliable.
Just like Nano X, Ledger Nano S works like a USB stick. Once you connect it to your PC, you will be able to take advantage of Ledger Live, a user-friendly app that lets you exchange, buy and sell crypto within its interface. Both Ledger wallets support the storage of multiple cryptocurrencies at once, so you won’t have to worry about looking for a separate wallet for each coin or token in your crypto portfolio.
Ledger Nano S is one of the best Ethereum wallets and you can rely on it to keep your funds safe.
3. Trezor Model One (Hardware Wallet)
Trezor Model One is a cheaper version of Trezor’s flagship wallet, Trezor Model T. This small crypto wallet is insanely reliable and powerful, and is known to be highly secure. Trezor Model One is compact and lightweight, and is sized at just 2.4 x 1.2 x 0.2 inches, which makes it perfect for traveling – it can be easily carried in a bag of any size.
This Ethereum wallet is compatible with all major operating systems – Windows, Mac, and Linux.
Trezor Model One is super easy to set up and is even easier to use. Your private keys will never leave the device. This ETH wallet will keep your funds safe while you make transactions and invest your crypto.
4. Trezor Model T (Hardware Wallet)
Trezor Model T is Model One’s big brother. It’s an advanced cryptocurrency wallet that is perfect for anyone who plans on storing a large amount of crypto. Your private keys will never leave the device, and your funds will be safe from various online vulnerabilities.
Trezor Model T has an extra layer of protection: all transactions you make will have to be confirmed on the device itself – this wallet features a touchscreen with an intuitive and easy-to-use interface that will allow you to review all information about your crypto exchanges and purchases.
Trezor Model T keeps you safe from more mundane threats, too: you will be able to recover your funds even if you lost your keys. You will have to use your 12-word recovery seed phrase to do so, so make sure to write it down in a safe place that you will be able to easily find and access later. It is one of the best Ethereum wallets.
5. Keystone Pro (Hardware Wallet)
Keystone Pro will probably be the most unusual hardware crypto wallet you will ever see. Instead of being a USB stick with a small touchscreen that gets connected to a PC, this device is more akin to a mini-tablet.
It’s twice as small as a typical phone, but ten times as powerful. Keystone Pro has an in-built fingertip sensor that lets you unlock the device and sign transactions in public without having to worry about somebody else seeing your passwords. Its anti-tamper self-destruct mechanism will wipe your keys as soon as the device detects that it’s been tampered with, protecting you from theft.
Keystone Pro uses QR code transmissions instead of connecting to a computer/phone via USB or Bluetooth, which eliminates many of the potential malware infiltration risks. Overall, it’s an easy-to-use yet incredibly powerful and secure Ethereum wallet that is sure to keep your funds safe.
6. Argent (Mobile Wallet)
Argent is a multisig and open-source cryptocurrency wallet that makes it easier than ever to interact with DeFi. With Argent, you get access to DApps and DeFi in just a few taps.
This wallet has a really high level of security, utilizing features such as remote locking and biometrics to keep user funds safe. Argent also lets users stake their assets for 20%+ interest with Yearn, Aave and Compound.
7. Exodus (Desktop Wallet, Mobile Wallet)
Exodus is one of the best hot wallets out there. Its sleek, fully intuitive interface makes it perfect for beginners and experts alike.
Exodus gives users access to a bunch of cool features, such as live price charts, portfolio monitoring, in-app crypto exchanges and purchases, and more. Exodus lets you store 100+ different cryptocurrencies all in one place.
Exodus is incredibly secure and utilizes the latest technology to keep your funds safe. If you want even more protection, this crypto wallet is partnered with Trezor, a hardware wallet manufacturer, allowing you to take advantage of all the features Exodus has to offer while keeping your funds safely stored on a reliable cold wallet.
8. Jaxx (Desktop Wallet, Mobile Wallet)
Jaxx Liberty is one of the best Ethereum wallets on the market. It has everything a crypto user might need: a high level of security, an excellent support team, an intuitive and user-friendly interface, and much, much more.
This cross-platform Ethereum wallet is excellent for people who want to have everything all at once. In a single app, Jaxx provides users with crypto news, price updates, crypto exchanges, and, of course, a secure and reliable way to store dozens of cryptocurrencies.
What sets Jaxx wallet apart from other mobile wallets is that it gives users access to an easy-to-use block explorer, allowing you to quickly and easily check balances and transaction data across multiple blockchains.
9. Enjin (Mobile Wallet)
Enjin is an excellent mobile wallet that supports Ethereum, Bitcoin, ERC-20 tokens, and other digital assets.
Enjin Ethereum wallet was built to make your crypto and NFT purchases and exchanges as seamless as possible. This app lets you interact with any DApp with just one click of a button. Enjin has also partnered with various exchanges such as Changelly to offer users quick and easy in-wallet crypto exchanges and purchases.
Despite not being a hardware wallet, Enjin is incredibly secure: it is a non-custodial wallet that utilizes the latest technology to keep your private keys safe. Additionally, it is paper-powered, and lets users take advantage of a 12-word passphrase in case they lose their keys.
10. MyEtherWallet (Web, Mobile Wallet)
MyEtherWallet is a cryptocurrency wallet that was made exclusively for and supports only Ethereum, ERC-20 tokens, Ethereum-compatible networks (ETC, BSC, Polygon, and more), and NFTs. This web and mobile wallet lets you send funds to anyone, anywhere in the world, at any time, with just a few clicks and without any middlemen, minimums, or limits.
MyEtherWallet has partnered with a wide variety of different crypto services to make your experience of using this wallet even more smooth and enjoyable: for example, its in-wallet crypto exchanges are powered by Changelly!
MyEtherWallet makes it easy to interact with all things Ethereum, from NFTs and DApps to all the various tokens built on the Ethereum blockchain. It is one of the best Ethereum wallets. And what’s even more important, it has the cutest acronym in the world – MEW!
11. Coinbase (Web Wallet, Mobile Wallet)
Many people know Coinbase the exchange, but did you know that this platform also has an extremely reliable and secure crypto wallet? And we don’t mean its custodial exchange wallet, but a fully independent and separate mobile and web wallet.
Coinbase’s crypto wallet lets you store 500+ different crypto assets, including but not limited to Bitcoin, Ethereum, UNI, and, of course, NFTs. In fact, Coinbase is the perfect choice for NFT fanatics, as it makes it super easy to manage and store all your favorite non-fungible tokens.
Although Coinbase is not a hardware wallet, it is still extremely secure, with all keys being protected by Secure Enclave, biometric authentication and optional cloud backups.
This Ethereum wallet is compatible with Google Chrome, and can be downloaded as an easy-to-use extension. This lets you seamlessly use your crypto on your PC while your private keys stay safe on your phone.
12. Gnosis Safe (Web Wallet, Desktop, Mobile)
Gnosis Safe is an excellent crypto wallet for anyone who wants to combine maximum security with great usability.
Gnosis was made specifically to house ETH and the assets built on its blockchain – ERC-20 (tokens) and ERC-721 (collectibles). This wallet allows you to sign your transactions with any wallet you own – and makes it possible to easily set up multi-sig features. As an ETH-focused wallet, Gnosis Safe makes it easy to interact with various DeFi protocols to invest, trade, and manage digital assets.
This wallet is also fully private and doesn’t require you to share any personal data such as names or phone numbers.
13. Unstoppable (Mobile Wallet)
Unstoppable is an incredibly secure non-custodial crypto wallet that lets you easily store a lot of different digital assets all in one place. Moreover, Unstoppable lets you create multiple wallets to monitor and manage different types of cryptocurrencies.
This decentralized and open source wallet is truly private, and stores no user data. Additionally, it has TOR enabled, meaning you can keep your connection private even from your internet provider.
Unstoppable’s main goal was to make interaction with DeFi easy and enjoyable, and they have achieved this and more: this wallet is a perfect choice for anyone who wants to safely store their Ethereum and also interact with all the projects built on its blockchain.
14. Portis (Web Wallet)
Portis is a non-custodial blockchain wallet that is heavily focused on running and interacting with apps. It is incredibly secure, and all the data stored in it is kept safe with the use of a sandboxed storage system.
Portis is a simplistic yet powerful multi-blockchain wallet that makes it easy to store and manage your cryptocurrency. It is especially perfect for storing Ethereum as it was designed to simplify the steps it takes to connect to and use DApps.
Portis can be accessed via a web browser from any device, including mobile phones. All you need is an email address and a password.
Where should I store my Ethereum?
This is a question that nobody can answer for you. Well, other than saying “in a secure Ethereum-compatible crypto wallet”.
The list of top Ethereum wallets that we have presented in this article is by no means exhaustive, and there are many other great ETH wallets on the market.
If it’s your first time choosing a crypto wallet and investing in crypto, we recommend using a hot wallet, preferably one that is beginner-friendly and can be accessed easily, like a mobile or web wallet.
Where can I buy an Ethereum wallet?
Most Ethereum wallets are free, and you don’t have to spend a penny on them. However, if you want to get a hardware wallet, you will have to buy it.
The place where you should buy your Ethereum wallet depends on the country you live in. We recommend checking out the wallet’s website first to see if it delivers to your country, or if maybe there are links to some reliable marketplaces for your country of residence. Don’t buy crypto wallets from merchants you don’t trust or that don’t have good reviews.
What is the safest wallet for Ethereum?
Once again, it is hard to give a definitive answer. In general, hardware wallets like Ledger or Trezor are considered to be the most secure way of storing Ethereum and other cryptocurrencies, but nowadays, hot wallets are not that far behind in terms of security.
An Ethereum paper wallet is also a good choice if you’re looking for extra safety.
Is Ledger Safer Than Metamask?
Metamask is a hot wallet, while Ledger is a cold wallet. By design, any Ledger wallet will be safer than Metamask, as the latter is connected to the Internet while the former is not.
The post The Top 14 Best Ethereum Wallets (2021 Edition) appeared first on Cryptocurrency News & Trading Tips – Crypto Blog by Changelly.
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