Looking for Best Ethereum Wallets ? See my top 10 Ethereum Hardware Wallets details from this review. You may be wondering why many big-time investors are now shifting their focus to ethereum. The answer is simple. It has the largest market cap, only after bitcoin. However, the technicality of ethereum makes it a very sensitive currency to secure. Successful traders understand this sensitivity and are beginning to embrace wallets as the best form of security for ethereum.
Ethereum Wallets, whether hardware, web, desktop, or mobile, provide you with an offline alternative to safely buy and secure your ethereum. They also ensure you can securely send and receive cryptocurrencies on your computer. However, picking the right product is often an uphill task. This guide will walk you through the top 10 best ethereum wallets (2017-18 edition). With this guide, you can confidently find the best wallet for your ether.
Best Ethereum Wallets For Buying Ethereum Based On Availability.
This guide contains the smartest, most advanced, most durable and most secure wallets you can find anywhere on the market. To select the best ethereum wallets, there are certain things you must consider. All the products here are notable for their effective backup and security, private keys, compatibility, development community, and are very easy to use. Before you make a choice, you should read this top 10 best ethereum wallets review.
Ledger Nano S- One Of The Best Ethereum Wallet in 2017
The Ledger Nano S is a hardware wallet that provides robust security for your ethereum. One good thing about Ethereum hardware wallets is that they cannot be easily hacked because your transaction details are mostly stored offline. Besides, the second screen for verifying actions would require that any hacker would need to physically have the device to hack it. Another notable feature is the metal casing that provides added physical security to the wallet. This makes the Ledger Nano S more durable and sleek than most other products.
This product is an HD wallet. It issues a 24-word seed that you can create your private keys with. The screen also makes it very interactive, as you can see transactions that you enter. But that is not all there is to this amazing device. The initial setup takes only about 3 minutes, with most of the time spent on initializing your seed. It contains two buttons on the side, used for controlling the device.
The small and portable device can be used to store both ETH and ETC. The small OLED screen is one feature you can’t ignore. Depending on the app you use, you should gain access to functions like account details, options for generating bitcoin ideas, as well as sending bitcoins from your wallet. This is definitely a strong inclusion in my list of best ethereum wallets.
Trezor (Hardware Wallet)- Best Ethereum Wallet To Safeguard Your Cryptocurrency
Trezor has recently diversified by launching a MyEtherWallet interface in 2017, which makes it compatible with ethereum. Before this innovation, it was meant for bitcoin alone. In fact, it led the bitcoin hardware wallets league as the first to be introduced. It is an electronic chip which also helps to store ethereum offline. Just like the Ledger Nano S, you will also require a password; entirely for your safety.
Other currencies that you can use this device for include Litecoin, Zcash, and Dash. It has very strong customer support, with a long-standing reputation since 2014. It is also the first bitcoin hardware wallet that featured a screen. The password manager feature ensures maximum security for your currencies. It is also more expensive than Ledger.
One other amazing feature is the light, but durable design. It is made of plastic, drop-prone, yet extremely elegant.
Jaxx (Mobile Wallet): A Simple Ethereum Wallet To Buy and Sell Ethereum!
Created by a Canadian company, Decentral, this Ethereum wallet supports multiple (13) cryptocurrencies. Jaxx allows private keys to remain on the device, while you can always restore your funds, with seed keys, anytime you want. The product also undergoes great innovation and maintenance due to the presence of an efficient development community.
You also don’t have to worry about your privacy as no personal information of yours will be requested. Jaxx wallet is supported on platforms such as Windows, Android, Apple, Mac OS, Firefox, and Chrome, amongst others. Whether it’s desktop or mobile, this device provides an intuitive solution to people who want a secure and innovative ethereum wallet.
Mist Desktop Wallet- Official Ethereum Wallet is Now Ready For You!
Mist is regarded as Ethereum’s official wallet which has many positive reviews. It is a desktop app that is designed to cater to the specific needs of ethereum traders. It makes my list of best ethereum wallets because it offers great value for money. Your financial security is not in doubt with Mist Wallet. It will take quite some time for initial block-chain synchronization with all ethereum nodes during the first setup. Once this is done, you can go ahead to use it.
The mist gives you a pair of private and public keys for performing transactions. It keeps you and your currencies safe as no personal information is required of you. The supported platforms for Mist include Windows, Mac, and Linux- platforms used on a desktop. It also uses ShapeShift. It is important to note that Mist is not a third party wallet like some others. In fact, the brains behind it are the same people pushing the ethereum cryptocurrency in the market.
Exodus Desktop Wallet- A Cryptocurrency Wallet With Multiple Currency Handling Capacity.
When Exodus was launched more than a year ago, there was a lot of talk about how well it will survive in a saturated market. Days went by and talk turned into the hype. Exodus Ethereum wallet features some amazing qualities like versatility and multiple currency capacities. Unlike other wallets, this product offers you complete compatibility with ShapeShift- a cryptocurrency exchange system- which supports several tokens.
One feature I like about the exodus wallet is the fact that your entire portfolio of coins appear on the screen in form of a pie chart immediately you open it. You funds are secured with other amazing features such as one-click email recovery and efficient backup seed keys. Whilst it is important to always have internet connectivity when you use exodus, your private keys are always on your machine.
With Exodus, the ethereum is directly stored on your machine. Also, you would not need to download the entire blockchain to the computer, as it is a lite Ethereum wallet. It is a highly intuitive wallet, providing you with all the functionalities you need to control a whole cryptocurrency portfolio. Yet, it is still one of the most user-friendly wallets I know. It is compatible with Windows, Mac, and Linux, with the capacity to store more than 10 different currencies including ethereum.
MetaMask (Desktop Wallet)- A Favorite Ethereum Wallet For Many!
This is a favorite for many people because of its intuitive design. It offers optimized interaction with ethereum, allowing you to not just store, but to send and receive money as well. It is almost like a browser that grants you access to the ethereum network. With high anonymity, centralized validation, and user-friendly interface, this wallet is indeed here to stay.
With MetaMax, you also do not need to download the entire blockchain. No login is required, and your private keys are not stored on any server. Instead, it uses chrome as a keys bank and is password protected. To enjoy the best of MetaMax, be sure to save WORD LIST so that you can always recover and reinstall your data whenever anything goes wrong. What’s more, your private keys are stored securely and can be exported whenever you want.
MyEtherWallet Ethereum Wallet Review (Web Wallet)
MyEtherWallet is a step higher on the web market. It offers you greater control of your private keys and has no third-party servers. MyEther’s browser environment offers so much more than just storing ethereum. Trezor or Ledger Nano S can be connected in the browser environment to enable you to access your cash. What’s more, smart contracts can be written and accessed, and the system is built for BTC and ETH swap facility.
The good thing is that you don’t even need a hardware Ethereum wallet when you have this. To use MyEtherWallet, go to the official site, fill the entry form and create a new password. Then you can go on to generate a wallet and download a keystore/UTC file which should be stored on a USB drive. This represents your private key and would require a password to open. Ensure you read the warnings before moving on.
You can then print your paper backup. Copy your address and save it on a blank page somewhere, then search for your address on etherscan.io. Other processes involve crediting your new wallet, unlocking your new wallet and crediting your new address. It is highly anonymous as no personal information is required. It supports chrome extension and web wallet.
Coinbase Wallet- A Web-Based Ethereum Wallet
Coinbase is another very popular web Ethereum wallet, especially for bitcoin traders. Ethereum support has only been included in 2017. Notwithstanding, it is fast gaining recognition amongst traders across the globe. As long as your country is serviced by the wallet, it provides a fast and very affordable storage service for your ethereum. To know if it is available in your country, go to coinbase website.
However, one disadvantage is that you do not entirely control the private keys. They are stored in the wallet’s hosted servers. Due to the drawback, it is a good choice for short-term storage, but may not be suitable for keeping ethereum for a long time. It supports platforms such as Android, iOS Apps, and web wallet. I advise that you only use this wallet to buy and sell ethereum and not for storage.
ETHAdress Paper Wallet- Another Simple Ethereum Wallet!
Now we take a look at our first paper Ethereum wallet entry in my list of best ethereum wallets reviewed. ETHAdress offers a great open-source option for people who don’t have a problem using paper wallets. If you’re in this category, this could be a good option for you. As a cold storage system, it is the cheapest wallet available on the market. It contains public and private keys which are printed on paper.
Whether it’s split wallets, bulk wallets, brain wallets, single wallets or vanity wallets, ETHAdress provides great support for you. With additional privacy offers, you can encrypt the private keys as well. However, be sure to always remember your password as you will not be able to access your account without it. It supports only ETH, and not ETC. You would need to move these keys online in order to transfer keys to anyone.
By a simple login to ETHAdress, you can print out a paper wallet with your private and public keys stored on it. This is a great way to prevent hackers from accessing your accounts.
KeepKey Hardware Wallet- An Expensive But Powerful Ethereum Wallet!
This is perhaps the only hardware Ethereum wallet on this list that costs above $110. However, this expense is compensated for with a larger screen (3.2” OLED) than those of Ledger Nano S and Trezor. It is also quite heavy, and may not provide you with the convenience of carrying it in your pocket or your hand. It is made of plastics and could be damaged if dropped. Nonetheless, its unique interface is one thing that attracts people to it.
Keepkey provides a secure offline environment for your ethereum, giving you the needed peace of mind. Its features are similar to those of the other hardware wallets already discussed here. Apart from ethereum, this wallet also supports bitcoin, litecoin, dash, dogecoin and namecoin. It is aesthetically appealing, perhaps one of the sleekest I have seen on the market.
Frequently Asked Questions – Best Ethereum Wallets Reviews – How to Choose ?
- How do I recover my data if my hardware wallet falls and breaks?
Usually, there is a recovery seed that you must’ve manually written down during your initial setup, especially if you use a Ledger Nano S. This will help you recover all your wallets safely. Simply reconfigure a new Ledger Nano S. If it’s a case of theft, the security feature will wipe the wallet clean after 3 failed pin entries by whoever took it.
- How does an Ethereum Paper Wallet Work?
This is simply a private key that you can print and then store offline. It is often called cold storage, and a good example is Ethadress. It helps you create paper Ethereum wallets.
- How is Ethereum sent?
As long as there is Ether in your wallet, sending is not a problem. You just need the address of the person you want to send it to, and you can make the payment.
- What is the best way to Fund my Ethereum Wallet?
Anywhere you can make a successful, safe purchase is fine. Usually, you should buy from an exchange. But always ensure you withdraw your ether to your wallet after every purchase. It is not safe to leave it on an exchange.
- What is wrong with free, software wallets?
A good example of a free, open-source wallet is MyEtherWallet. It is a software wallet but doesn’t provide as much online security as hardware wallets.
Conclusion: If You Need an Ethereum Wallet, These are The Best. Pick From The List!
Presently, I know of a few exchanges that support ethereum. They include Cex.io and BitPanda. Although ethereum is increasing in popularity, it is still not yet as mainstream as bitcoin. Perhaps, this is the reason most of its wallets are quite recent. However, with growing attention, we will likely see additions to its exchange and wallets.
For now, if you need secure and efficient wallets for your ethereum, you can pick anyone from my list of best ethereum wallets reviewed above, depending on your needs and preference.