EOS is the native cryptocurrency of EOS.IO, a blockchain platform with smart contract capabilities. The project was developed by a company called Block.one, and its white paper was written by Daniel Larimer and Brendan Blumer. It was officially launched in January 2018, and has since amassed quite a following.
The EOS ecosystem was designed as a platform for developers to build, host, and run decentralized applications (DApps). Its developers aimed to solve the age-old issues plaguing other blockchains that are used to run DApps, like Ethereum. For example, EOS not only confirms more transactions per second, but it also doesn’t charge users the usual fees associated with making transactions. Additionally, the platform’s out-of-this-world scalability allows it to process thousands of transactions per second.
EOS.IO uses the delegated proof-of-stake (DPoS) consensus algorithm to secure its blockchain. DPoS utilizes a system that combines real-time voting with a reputation system to decide who can create the next block. Although technically any EOS holder can be chosen, the more tokens you own, the more likely you are to be the lucky one.
EOS is used as a payment system on the EOS.IO platform. That, in addition to its already high market cap and the other benefits it has, like high transaction speed, makes it a good short- and long-term investment. Additionally, holders can also earn passive income using their EOS via staking.
EOS is a really unique and innovative cryptocurrency. Learn more about it in this article.
Just like any other cryptocurrency, EOS has to be stored in a crypto wallet. However, there’s a catch: in order to perform any actions on the EOS network, you will need an EOS account – a unique human-readable name that is stored in the blockchain and is connected to your keys.
Creating an EOS account requires you to pay a small fee of approximately 1 EOS, but, in return, you will never have to pay any transaction fees when using EOS. Read this article to learn more about EOS accounts and how to create one.
Types of EOS Wallets
EOS can be stored in all the available wallet types, however, they operate in a slightly different way to how most usual crypto wallets do. To put it simply, EOS wallets are more like authenticators to sign transactions – you can use your private key to access your EOS account via any wallet that supports it.
Hot EOS Wallet
Hot wallets are traditionally the easiest way to store and manage your cryptocurrency. A hot wallet is a cryptocurrency wallet that is connected to the Internet. Although that technically makes it less secure than a hardware wallet by design, it adds usability. Not to mention, many hot wallets nowadays utilize high-level security features that make them virtually unhackable, making them just as secure as some cold wallets.
There are two big advantages to hot wallets: firstly, the usability benefits they provide, such as quick and easy in-wallet transactions. Secondly, their price: most hot wallets are if not free, then super cheap.
Please note that quite a few hot wallets are custodial. “Custodial” means that your private keys (a form of cryptography that allows you to access your funds) are held not only by you, but also by the wallet application.
This may seem like a huge security hazard (especially on top of hot wallets being connected to the Internet), but, in reality, custodial wallets can be just as secure as non-custodial ones. In the end, it’s down to personal preference and what you value more: privacy or usability.
Custodial wallets provide a few tangible benefits, such as allowing you to get access to your funds even if you lose your private key. Overall, we’d say that custodial wallets are usually a lot more beginner-friendly as they provide some insurance in case you make a mistake.
Some examples of custodial wallets include exchanges like Binance and wallets like Freewallet.
Hot wallets can generally be divided into 3 categories:
Although some hot wallets fall directly into one category or the other, many of them are available on multiple platforms.
Web EOS wallet
Web wallets are hot wallets that can be accessed via your web browser. They are extremely easy to install and get and are an excellent choice for crypto beginners. Due to being available as either a web interface or an extension, these wallets can be accessed via any device that has software that allows one to access the web. This makes web wallets very flexible.
Many web wallets are custodial, but they offer extra security features to keep your funds safe. For example, there are a lot of web wallets out there that have the multisig feature, meaning they have more than one key – and one of those keys can only ever be held by you.
Web wallets allow you to easily keep your funds safe while providing you with the benefits of being able to make quick and easy transactions.
Desktop EOS Wallet
A desktop wallet is software that gets installed on your computer. Most desktop wallets are non-custodial, meaning if you use one, you will be the only person in control of your private keys.
However, they’re vulnerable for another reason: just like any other software, desktop wallets can be affected by viruses and malware. We recommend installing reliable anti-virus software if you plan on using a desktop cryptocurrency wallet.
Please note that not all desktop wallets work with all operating systems. If the OS you’re using is not Windows, you should always check if the wallet of your choice is compatible with the system you’re running. That said, most popular crypto wallets support all of the most widely-used OS – Windows, Mac, and Linux.
Mobile EOS Wallet
Mobile wallets are an application that you install on your phone. They are almost always free, and when they’re not, they’re super cheap.
Most mobile wallets let users purchase and exchange cryptocurrency within the wallet interface. In addition to that, many of them offer other nice features such as price tracking, crypto news aggregation, and so on.
Cold EOS Wallet
Cold wallets are cryptocurrency wallets that are not connected to the Internet. This makes them incredibly secure and invulnerable to many types of security threats. They keep your private keys safe on a physical device rather than on the cloud or in software, making them a lot harder to steal.
Cold wallets are typically non-custodial and provide greater security and privacy than hot wallets. However, they are slightly more awkward to use to make day-to-day transactions.
Hardware EOS Wallets
Cold and hardware wallets are pretty much synonymous with each other. This type of wallet stores your private keys on a hardware device that usually looks like a USB stick.
Although most hardware wallets come with a touchscreen interface, they have never really been that user-friendly. That said, many of them now also offer software that you can install directly on your PC or mobile phone to easily control and manage your digital assets.
One big downside of hardware wallets is that they require you to make quite a hefty initial investment – many of these wallets cost over $100. That can be unacceptable for beginners that are just starting their journey in the crypto world. Not to mention, it takes time to find a shop that sells them, place an order, and wait for delivery – and after all that, you will also have to set them up. Overall, they require you to invest both your time and money, but offer higher security in return.
Hardware wallets are usually recommended for people who plan on storing large amounts of cryptocurrency.
Paper EOS Wallet
Paper wallets have always been one of the most secure ways to store your crypto. This type of crypto wallet doesn’t store your private keys anywhere other than a piece of paper.
One downside of paper crypto wallets is that, well… they’re easy to lose. And once you lose them, you instantly lose your private keys and, with them, all the crypto funds that were stored in that wallet. Some people have even lost paper wallets worth millions of dollars – imagine the devastation their owners must’ve felt… (BTW, if you yourself have ever lost crypto or just want to read some stories of how other people have dealt with their crypto losses, check out this article!)
A paper wallet can keep your funds safe from hackers, but, unfortunately, it is vulnerable to mundane occurrences such as dogs chewing on it, water spillage, and, of course, being lost. Be extra careful with where you keep your paper wallet.
Learn more about paper crypto wallets and how to make them in this article.
List Of The Best EOS Wallets
There are quite a few excellent wallets out there that support EOS, so choosing the one that will be the best EOS wallet for you can be quite hard. Don’t forget to check the reviews of every wallet you want to use, and pay special attention to how their support system operates – after all, they will be your first point of contact if something (unfortunately) goes wrong.
Ledger Nano X
Ledger Nano X is the upgraded version of Nano S, another excellent hardware wallet. This device is essentially a USB stick that can be connected to your PC. One of the biggest advantages this hardware wallet provides is the ability to store multiple different cryptocurrencies on it – it supports the installation of several apps at once. Additionally, the Ledger Nano X hardware wallet is equipped with Bluetooth, making it easy to connect it to mobile devices.
Ledger Nano X is an extremely durable, reliable, powerful, and secure EOS wallet. Before using your Ledger to store EOS, however, you will need to install the EOS app. Read more about this here.
Trezor Model T
Trezor Model T is an advanced hardware crypto wallet that is perfect for storing your EOS. Just like Ledger, Trezor also has firmware that works with EOS.IO software. It makes it possible for the device to manage large transactions with multiple actions without significant security sacrifices being made.
Trezor is a highly secure and reliable crypto wallet that makes it easy to store your digital coins and tokens. It is one of the most secure EOS wallets and also has a touchscreen that allows you to easily and intuitively confirm and verify any and all transactions you make using your Trezor cryptocurrency wallet.
Edge wallet has been natively supporting EOS since January 2019. This mobile wallet is perfect for users who want to hold more than just EOS: it supports the storage of multiple digital assets at once, and provides users with the ability to easily exchange cryptocurrencies within the wallet interface via integrated exchange platforms like Changelly.
Additionally, Edge lets users create and activate EOS accounts – a very handy and convenient feature.
Edge is a fully private secure multi-currency wallet that has decentralized server architecture, meaning your wallet will still be functional even if Edge servers are down. Its code is fully open-source and is available on GitHub.
Edge wallet is available for both iOS and Android.
Infinito EOS Wallet
Infinito wallet makes it as easy as ABC to store and manage dozens of different cryptocurrencies. Infinito wallet has a DApps browser called App Square that not only supports decentralized applications built on EOS, but also provides other amazing features such as EOS account self-registration, EOS voting for block producers, and more.
Infinito wallet aims to create a comprehensive ecosystem of cryptocurrency and blockchain products that can satisfy any type of user. Because of this, this mobile wallet is constantly on the lookout for new promising projects to partner with and provides their users with a wide variety of features. In addition to all the other benefits it offers, at its core Infinito is a reliable and secure hot wallet that is perfect for storing your cryptocurrency. Infinito is one of the best EOS wallets.
Infinito wallet is available for both iOS and Android.
Exodus is an excellent and easy-to-use hot EOS wallet. It has a sleek, user-friendly interface and is incredibly secure. This cryptocurrency wallet lets you send and receive your EOS with either a wallet address or a QR code. Exodus supports in-wallet exchanges – users can trade their crypto for another one in just one click.
This wallet is highly secure and private – it encrypts private keys and all transaction data and doesn’t require users to set up or verify their accounts. Exodus also has an excellent support team that is available 24/7 and can help you solve any issues you may have.
Exodus is available for Windows, Mac, and Linux on desktop and Android and iOS on mobile.
Lumi is a non-custodial hot wallet that doesn’t require users to create an account or go through KYC verification. It can be accessed on both web and mobile. They also have a highly helpful customer support team.
Lumi wallet is a reliable and secure place to store your EOS. It also lets users send, receive, and exchange the token for more than 1000 other cryptocurrencies.
Lumi Wallet is available for both iOS and Android.
Anchor (formerly known as GreyMass eos-voter wallet)
This is without a doubt one of the best EOS wallets – it was created by GreyMass, a company that is closely tied to EOS.IO. Anchor is integrated into many of the most-used DApps on the EOS.IO network. Anchor is highly private, and its servers never collect any identifiable information. Anchor offers users the ability to make a limited number of free EOS transactions each day.
Formerly known as the GreyMass eos-voter wallet, Anchor is focused on security and privacy, and its code is fully open-source. Anchor’s interface is not as user- and beginner-friendly as that of other wallets on this list, but there are a lot of guides out there that can introduce you to all its features. Since its developers work so closely with EOS.IO, Anchor is perfect for understanding how the ecosystem and the token work.
Anchor is the wallet that is considered by many to be the best EOS wallet and is usually recommended by EOS.IO devs. It has a lot of different features to offer.
Anchor is available for Windows, Mac, and Linux on desktop and iOS on mobile. Android support is coming soon.
Freewallet is one of the most popular cryptocurrency wallets, and for a good reason – it’s easy to use, has a highly intuitive interface, is secure, and, just like the name suggests, is completely free!
In addition to in-wallet exchanges of dozens of cryptocurrencies, Freewallet also lets users purchase crypto with fiat directly within the wallet interface. All coins and tokens in your Freewallet account are held in a cold storage. As additional means of security, Freewallet also has 2FA, pin-code and fingerprint support.
Freewallet allows users to create free EOS wallets and easily make fee-free EOS transactions.
Freewallet is available for both iOS and Android, and can also be accessed via your web browser.
Scatter EOS Wallet
Scatter is not really a crypto wallet in the traditional sense of the word – it’s more of a hub that lets you manage all things EOS. This open-source hot wallet has a node on the EOS mainnet, and works closely with EOS.IO developers. In addition to a desktop wallet, Scatter also has a Chrome extension that can be used to access your funds.
Please note that the Scatter EOS wallet is outdated and there’s no more support for it. Despite this, it can still be used and is one of the best EOS wallets – it is even still recommended by EOS.IO devs in some guides. However, we would not recommend using it if it’s your first time buying or owning EOS.
Scatter is available for Windows, Mac, and Linux on desktop. It can also be downloaded as a Chrome extension.
imToken is another excellent mobile wallet for storing EOS tokens and many other cryptocurrencies. This wallet is non-custodial, so nobody but you controls and has access to your private keys.
This crypto wallet makes it easy to store and manage multi-chain digital assets like EOS, Bitcoin, Ethereum, Litecoin, and many others. It also supports a wide range of stablecoins. imToken also has a built-in token exchange.
imToken wallet is available for both iOS and Android.
EOS Paper Wallet
It is also possible to create an EOS paper wallet.
Paper wallets are known to be highly secure and private, so it’s an excellent solution for users who value these things. They’re easy to create, too: just write down your private key on a piece of paper or print it out.
There are several steps you can take to make your paper wallet even more secure, such as using multisig or creating a hierarchy of permissions.
A paper wallet is an excellent free solution to securely storing your EOS.
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