Getting started with Ethereum wallets is a confusing process.
Luckily, we’re making it easy to decide which Ethereum wallet is best for you.
Our guide breaks down the top ethereum wallets and by the end you’ll have a much better idea of which wallet to use.
Ledgers newest hardware wallet makes storing ETH easy without sacrificing security.
ZenGo is a multi-cryptocurrency wallet for iOS and Android. It supports Ethereum.
Deciding which Ethereum wallet is best for you will come down to a few things:
Here, we are mainly trying to determine what you plan to do with the coins?
Are you trading often and buying and selling alot?
If so, we want to be able to move the coins quickly and easily.
Are you storing them for the long term?
If so, we want a ‘cold storage’ that makes it harder to move the coins. This provides us security at the cost of ease of movement, since we don’t plan on moving the tokens very often.
Again, we want to know how often you are transacting because that will give us an idea of how difficult we want to make it to move coins in and out of the wallet.
If you are transacting often, then we want a wallet that makes it easy to move coins at the cost of security.
If you are going to be using a desktop to manage your coins as opposed to a mobile phone or dedicated hardware, that will change the wallet we recommend.
There is also the question of the operating system. If you are on Windows or Android, some wallets won’t work on those OS’s. The same is true for MacOS and iOS.
Knowing what hardware and software you will be managing the coins with is important when choosing a wallet since not all wallets are compatible with all platforms.
A good Ethereum hardware wallet is crucial if you need secure storage for your Ether or ERC20 tokens. Usually, ETH holders will want to buy a hardware wallet if they are planning to hold onto their ETH for a long time, especially if they are holding large sums of money in ETH.
Below you can find a couple of the best hardware wallets on the market.
It supports the most coins and has integrations with MyEtherWallet, making it easy to use the device to store, send and receive ether and ERC20 tokens. Ledger paired with MyEtherWallet is the most popular way to use Ledger for Ether.
If you want to learn more, you can read our review of the Ledger Nano S.
The TREZOR Model T is another hardware wallet, like the Ledger. It also supports storing ether and ERC20 tokens. It has the same integrations as the Ledger Nano S, and can be used with MyEtherWallet to send, receive and store ERC20 tokens.
It can also be used as a password manager for all of your online accounts, which is a nice added bonus.
If you want to learn more, you can read our review of the Trezor Model T
Desktop wallets are wallets that are housed on your computer. The keys to your coins on stored on your hard-drive and are controlled by you.
That said, they are much less secure than a hardware wallet. Typically you only want to use a desktop wallet to make day to day trades on exchanges or to act as an interface to a hardware wallet.
Below are some of the best desktop wallets we’ve tested.
Metamask is a very popular Ethereum wallet for desktop. It has received funding from the Ethereum Foundation and Consensys. It allows you to easily store Ether or ERC20 tokens.
There are a few issues to know about Metamask though.
One is that by using Metamask, nearly any website you browse can see that you have it installed and therefor understand that you are a cryptocurrency user and owner.
While this does not sound too bad, it is simply a privacy leak that could make you a target for hacking or malware. Check this post for more info.
Also–this goes for all wallets–but there are many fake versions of Metamask. Make sure you are downloading it directly from Metamask’s website.
Ledger Live is the companion desktop wallet software for Ledger hardware wallet devices.
They provide an easy to use interface that works perfectly with your Ledger hardware right out of the box.
It is also totally free and is constantly updated to add new features, fix bugs, and improve user experience.
If you are holding Eth and want one of the better desktop wallets without sacrificing security, Ledger Live is a great choice!
Exodus wallet has become a very popular wallet in the cryptocurrency world. The main downside, though, is that its code is not open source. This means the wallet code has not been checked by devs from around the world and you have to place more trust in the Exodus developers.
Regardless, the Exodus wallet has a number of nice features. It supports a ton of coins so you don’t need to create a different wallet for each new coin you buy.
It also has a cool portfolio feature that allows you to see your crypto holdings in an easy to understand way.
Lastly, it has integration with ShapeShift which allows you to swap assets and coins from directly within the wallet.
A web wallet is a wallet that works like an account on any other website. It lets you login on any device using a username and password.
MyEtherWallet is probably the most popular Ethereum web wallet.
Web wallets, however, are not secure at all and should really not be used at all. Recently there was an issue with MyEtherWallet where the hackers were able to track the accounts of users that were on the site at the time of the hack. The amount of ether and ERC20 tokens the attackers were able to steal is unknown.
It’s also possible to get phished where you give a fake website your login credentials which they use to login on the real MyEtherWallet to steal your funds.
If you do decide to use MyEtherWallet, definitely use it with a hardware wallet and not as a web wallet.
MyCrypto is a fork of the MyEtherWallet code when the founders of MyEtherWallet had a disagreement.
Like MyEtherWallet, MyCrypto is a web wallet and is therefore not very secure. However, you can pair MyCrypto with a hardware wallet like a Ledger or Trezor so that your private keys are not held on a server you do not control.
If you do it this way, MyCrypto acts as a sort of wallet interface for you hardware wallet.
If you are an iPhone or iPad user, and you want to store coins for day to day trading on your phone or tablet, then these are our top picks for you.
BRD wallet has been around for a few years. It originally only supported Bitcoin, but recently added support for ether and many ERC20 tokens.
It’s very easy to setup and you can start receiving ether within a few minutes. You can even buy and sell eth from within the BRD wallet app under the buy tab at the bottom left of the home screen.
Another nice feature of BRD is that there is no sign up or registration required to use the wallet (unless you decide to buy coins through the interface).
However, since it’s a mobile wallet, it should only be used for day to day amounts of ether and you should always backup your wallet using the 12 word seed BRD generated for you when you first set up your wallet.
TrustWallet is an Ethereum and ERC20 wallet. Binance, the world’s largest cryptocurrency exchange, recently acquired TrustWallet.
Jaxx Liberty is another popular wallet since it supports a lot of different coins.
Jaxx liberty is the 2nd generation of Jaxx wallet. The original Jaxx is no longer available.
If you are running the old jaxx wallet, you should migrate your coins using this process:
Like Exodus, Jaxx liberty is not open source, so it is difficult to tell whether the code is safe or not - you have to trust Jaxx. Walletscutiny.com was also not able to verify that the code provided publicly is the code used on the actual wallet.
Jaxx is made by Decentral, a company based out of Canada, which means they are not likely to intentionally employ malicious code and run off with your coins (though they could). However, because the code cannot be audited, its harder for outside users to know if there are vulnerabilities in the code.
One nice thing about Jaxx though is that you do not have to sign up or register in any way, so Jaxx shouldn’t know any personal identifying information about you.
If your mobile devices run on Android operating systems, and you want to store coins for day to day trading on your phone or tablet, then check out our following picks for you.
TrustWallet is an Ethereum and ERC20 wallet. Binance, the world’s largest cryptocurrency exchange, recently acquired TrustWallet.
BRD wallet is also available for Android devices. It originally only supported Bitcoin, but recently added support for ether.
It’s very easy to setup and you can start receiving ether within a few minutes. Since it’s a mobile wallet, it should only be used for day to day amounts of ether.
Most ICO investors invest in ICOs for the long term. So you probably want secure storage for your ICO ERC20 tokens.
The Ledger Nano S paired with MyEtherWallet for the interface is probably the best combination here.
The best wallet for mining will really depend on what you do with your Ethereum mining income.
If you are constantly selling your mining income for other coins, you may just want to use a hot wallet like Mist Wallet.
But if you plan on saving your mining profits and want secure storage, the Ledger Nano S is a good choice. It also makes it easier to create new addresses than mining to a paper wallet.
For you to add funds to your Ethereum wallet, you will need to find an exchange to buy crypto from then transfer it to your ETH wallet.
You’ll need to choose an exchange that services your country and/or state. You can find a full list of exchanges sorted by country and preferred payment method on our exchange finder or you can see the most popular exchanges below:
This ad promotes virtual cryptocurrency investing within the EU (by eToro Europe Ltd. and eToro UK Ltd.) & USA (by eToro USA LLC); which is highly volatile, unregulated in most EU countries, no EU protections & not supervised by the EU regulatory framework. Investments are subject to market risk, including the loss of principal.
After you have bought your crypto, you’ll need to send it to your wallet. To do that, do the following:
After that, you should receive a confirmation with a transaction ID of some kind. Here is what that might look like.
Using a Ledger wallet to store the private keys of your coins held on Metamask is a great way to increase security.
It is very easy to connect your Ledger wallet to Metamask, and box mining has done a fantastic job of walking you through the process in their short video - just skip to 6 minutes and 40 seconds.
Once you’ve connected your Ledger wallet to Metamask, you can easily hook up Metamask to Uniswap if you want to trade ETH or any ERC20 coin or provide liquidity and earn a fee.
On Uniswap.org, select Products -> App in the top menu of Uniswap
Then select “Connect to wallet” and choose Metamask from the pop-up.
From there, just follow the prompts.
It is worth noting that many users are experiencing issues with using their Ledger wallet to make Uniswap trades, however it is unclear if this is an issue with Ledger, Metamask, Uniswap, or some combination of the three.
There is a large history of cryptocurrency being stolen from exchanges. When this happens, users lose money. For example, if an exchange holds 1000 ETH and gets 100 ETH stolen in a hack, you will likely lose 10% of your balance.
This already happened to one Canadian Ethereum exchange. The best option is to store your ether and ERC20 coins in your own wallet.
As you can see, there are many different kinds of wallets, and they all serve different kinds of users. The one kind of wallet that is good for just about anyone is a hardware wallet. Hardware wallets are not free, however, which is the one downside.
As with any question you have about crypto, its important to do your own research. This guide is meant to make that research a little bit easier, and we hope you were able to determine the very best wallet to use in your situation.
Whatever wallet you decide to go with, please make sure you know how it works before depositing any major funds into it. It’s also important that you back it up in a place that is safe and secure. Anyone who finds your backup can take your coins.
Yes, most of the wallets listed above support storing Ether (ETH) as well as any ERC20 token.
The Ethereum Blockchain is public and can be viewed by downloading full node software or using a block explorer.
Etherchain is a very popular explorer. To check the balance of an address, paste the address into the explorer. Any Ethereum address looks like this:
The price of Ethereum is constantly changing. Take a look at the chart below for live pricing information of Ethereum:
There was a bug in the Parity Ethereum wallet that led to the loss of around $300 million worth of ether. EIP999 is set to unlock these funds. But it is very controversial because some argue that centralized decision making will reverse the lockup, but the point of Ethereum is to be decentralized.
This post will show you the three best options to choose from, sorted by lowest price to highest price.
The Ledger Nano S is one of the cheapest of the three hardware wallets for Ethereum.
At €59(or $59 US) not including shipping, its a great deal.
The Nano S stores your Ether offline in a secure environment. When you want to make a transaction sending Ether, the device signs your transactions and transmits the signed transaction to your computer.
The good thing about the S is that is has a screen. This means you can verify all outgoing transactions on your S’s screen. Even if your computer is hacked, your S’s screen will remain secure and verifies that the address and amount you’re sending are correct.
You can also pick up the Nano X, which features a sturdier build as well as Bluetooth functionality for increased mobility for traders on the go. You can pick up the Nano X for $119 or €119.
TREZOR also costs $59 and like the S, TREZOR stores your Ether offline in its secure environment. You can also pick up the more advanced Model T for $159 and and you'll get all the benefits of the TREZOR One but with a full color touch screen that is a really nice feature when verifying addresses.
TREZOR also offers a really cool password manager feature. The device encrypts your passwords in its secure environment and then decrypts when you want to login online.
One thing I like about the TREZOR is it appears to me to be the most drop-prone hardware wallet. It is very light and made from plastic, although still offers an elegant design.
If you are on a budget, there is no doubt that the Ledger Nano S is your best option for an Ether hardware wallet.
The added features of the TREZOR Model T make it the premium option if a color touchscreen and key splitting is something that is important to you.
If you are mining Ethereum, then a hardware wallet will be your best bet for secure payouts.
We are not aware of a good way to generate an Ethereum paper wallet.
One unique way to make one would be to use a hardware wallet to generate a seed. You could get a list of addresses and use them without the hardware wallet.
Either way we do not recommend using paper wallets as there are many risks to doing so.
The Ledger Nano S has full support for ERC20 and more coins than the other two options. TREZOR has support for all ERC20 tokens. KeepKey only has beta support for ERC20.
MyEtherWallet is a free open-source Ether wallet. Just remember that online, software wallets are much less secure for storing Ether than hardware.
Once you download or buy an Ethereum wallet, you will be presented with an address in the wallet software.
To fund your Ether wallet, you need to buy Ethereum from an exchange. Once you buy, you can withdraw the Ether to your wallet.
This is a step you should always take! NEVER store your Ether on an exchange!!!
Once you have Ether in your wallet, you just need to get the address you want to send to and make the payment.
Ether payments are fast although less secure than Bitcoin payments.
You can get a confirmation in maybe 12 seconds, although ideally you should wait a bit longer than that for more confirmations.
Cold storage means that your Ethereum private keys are stored and created offline. The easiest way to do this for beginners is to use a hardware wallet or paper wallet.
Using something like Ethaddress you can make a paper wallet. A paper wallet is an Ethereum private key printed and stored offline. This is a form of cold storage.