I’m a firm believer that information is the key to financial freedom. On the Stilt Blog, I write about the complex topics — like finance, immigration, and technology — to help immigrants make the most of their lives in the U.S. Our content and brand have been featured in Forbes, TechCrunch, VentureBeat, and more.
See all posts Frank GogolBest Ethereum Wallet – What Should You Choose?
Updated on April 9, 2024
Written by
Written by
Reviewed by
Rohit Mittal
Reviewed by
Rohit Mittal
Rohit Mittal is the co-founder and CEO of Stilt. Rohit has extensive experience in credit risk analytics and data science. He spent years building credit risk and fraud models for top U.S. banks. In his current role, he defines the overall business strategy, leads debt and capital fundraising efforts, leads product development, and leads other customer-related aspects for the company. Stilt is backed by Y Combinator and has raised a total of $275M in debt and equity funding to date.
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At a Glance: Ethereum is a decentralized cryptocurrency and platform that allows for the creation and execution of smart contracts and decentralized applications (dApps). It operates on a blockchain, providing a secure and transparent ledger for transactions. Ethereum’s native cryptocurrency is called ether, which is used for various transactions and services within the Ethereum network. There are multiple wallet options available for storing Ethereum, including hardware wallets like KeepKey and Trezor, as well as software wallets like Coinbase, Exodus, MetaMask, and MyEtherWallet. These wallets offer different features and levels of security to suit individual needs.
More and more people are getting into cryptocurrencies, and Ethereum is one of the most popular ones, therefore its audience is very large. Ethereum has the second-largest market cap, being in line right after Bitcoin.
Because so many investors are now rushing to Ethereum, a demand for Ethereum wallets has appeared. If you want to buy, store or sell Ethereum, it may be necessary to have an Ethereum wallet, as you need something to keep your crypto assets safe. Below, we are going to look into some of the best Ethereum wallets available at the moment.
What Is Ethereum?
Ethereum is one of the many cryptocurrencies that popped up over the years, and it managed to become one of the largest ones in the pack. It was first released in 2015, after being developed by programmer Vitalik Buterin in 2013. Thanks to the crowdfunding that took place in 2014, the cryptocurrency was successfully launched in 2015. The platform or cryptocurrency is called Ethereum, and the individual unit is known as ether.
The crypto works on a decentralized computer network or a distributed ledger that is known as a blockchain. This is the entity that manages the currency and keeps track of it. The decentralized nature of Ethereum’s network is what makes it so attractive for investors.
People can start exchanging money without a central intermediary (a bank, for example) being part of the process. On top of that, since there is no central bank involved, the cryptocurrency is almost autonomous, and people can make transactions pretty much anonymously. The transaction is the only one that will be available publicly on the blockchain.
Ethereum was made to allow developers to build and publish different smart contracts, as well as distributed applications. These would then be used without having to worry about the risks of fraud, downtime, or third-party interference.
Even though it is the next one in line after Bitcoin, it is different from it. The platform describes itself as “the world’s programmable blockchain” and it is a programmable network that pretty much operates as a marketplace for financial apps, games, and services. All of these can be paid for using Ether cryptocurrency. Moreover, it will not be at risk of theft, fraud, or censorship, which makes things even better.
Best Ethereum Wallets
If you want to start trading Ethereum and store it, you need to find a proper wallet that can keep the currency safe. There are many wallets available, but the one you go for should suit your needs. Here are some of the best Ethereum wallets that you can find:
Keep Key
KeepKey is the priciest wallet you can find for Ethereum, and one of the reasons for that is that it is a hardware wallet. You can find it for $120. What makes this particular wallet so great is the fact that it keeps your Ethereum assets in a safe environment offline.
It is a bit bulky and it has a larger screen. Despite this, the body of the wallet is made of plastic, which makes it vulnerable to damage. So, if you go for this wallet, you should make sure not to drop it.
Coinbase
Coinbase is a great wallet mainly because you do not need to spend a lot of money to get it. It is a web wallet – and it’s one of the most popular ones. They just included Ethereum support recently, therefore you will be able to store Ethereum very quickly as long as it is accepted in your country.
Although safe, there is a downside to Coinbase, namely the fact that you do not have control over the private keys. After all, they are stored on the hosted servers.
If you are interested in Coinbase, all you have to do is create an account and start storing your Ethereum assets. Register, get your public address, then transfer your Ethereum to the public address and store your ETH safely.
Bear in mind that Coinbase is ideal if you want to store your ETH in the short term. If you want to store it in the long-term instead, you should use a hardware wallet or the Paper wallet method.
Exodus
Exodus is the first multi-cryptocurrency desktop wallet in the world. You can use it for free, which makes it very convenient. On top of that, it looks amazing. When you open the wallet, you will see a pie chart that shows your entire coin portfolio.
It can support almost 100 cryptocurrencies, and Ethereum is one of them. What is also great is that it has ShapeShift, being the first desktop wallet with this feature. You just have to make sure that you always have an Internet connection if you wish to use Exodus.
To make sure your funds are secure, you will have features like backup seed keys and one-click email recovery.
Atomic Wallet
Atomic Wallet is available for both desktop and mobile, which makes it better for many people. It allows you to store your ETH and even exchange it or buy it using a bank card.
You can input a contact address and then ensure the custom coin is in your wallet. Your private keys are encrypted on your device, therefore you have full access to them and full control over your coins.
MetaMask
MetaMask is a great wallet that works as a browser in order to give you Ethereum network access. With it, you will be able to access decentralized Ethereum apps or store and send your Ethereum. Because the design is very nice and straightforward, you will quickly switch between the test network and the main Ethereum one.
Trezor
Trezor is a hardware wallet, actually being the first wallet of this type developed for Bitcoin. But now, Ethereum can be stored and traded on the wallet as well using the MyEtherWallet web interface. It costs $99 and can be found in black, gray and white colors.
Argent
Argent is a wallet that can be configured using your mobile number and email address. It is a non-custodial ETH wallet with advanced features. It integrates compound.finance too, which gives you the possibility to lend Ethereum and also gain interest. A dAPP browser is also available.
MyEtherWallet
MyEtherWallet is a unique web wallet as it is open-source and has no third-party servers. It has inbuilt ETH to BTW and vice-versa, and you can write and access smart contracts too.
Ledger Nano X
Ledger Nano X is an Ethereum hardware wallet available for everyone. It is one of the most popular models in the industry. Ethereum and all tokens in its blockchain are supported. Managing coins is possible through the MyEtherWallet. The wallet is available for $119.
Ledger Nano S
At $59, this is the cheapest hardware wallet for Ethereum. It allows you to store ETH, ETC, and it is quite easy to use. You will be able to sign in using the private key you stored on the device.
Jaxx
Those who want a mobile wallet can use Jaxx, which is available for all smartphones. It supports 13 cryptos, one of them being Ethereum. The design is great and the safety is outstanding. Your private keys are always on the device.
Guarda
Guarda is also available for web, desktop, and mobile, and what makes it amazing is the fact that you will be in full control of your Ethereum, but also the private keys. You do not need any personal information to use it either, therefore it ensures your safety.
Read More
- How to Make Money with Cryptocurrency
- How to Withdraw from Binance
- How to Transfer From Coinbase to Coinbase Pro
- How to Transfer from Coinbase to Binance
- How Does Cryptocurrency Gain Value?
- How to Read Crypto Charts
Final Thoughts
If you want to store your cryptos safely, it is important to find the best Ethereum wallet. Check the list above and see what wallet suits your needs and preferences. Compare their features and see what might work best for you.
Frank Gogol
I’m a firm believer that information is the key to financial freedom. On the Stilt Blog, I write about the complex topics — like finance, immigration, and technology — to help immigrants make the most of their lives in the U.S. Our content and brand have been featured in Forbes, TechCrunch, VentureBeat, and more.