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.
MetaMask is a simple ETH & ERC20 desktop wallet. It's an add-on for FireFox.
Deciding which Ethereum wallet is best for you will come down to a few things:
In the sections below, we will detail all kinds of Ethereum wallets and how they fit into the criteria above. By the time you finish this post, you should have a pretty good idea of which wallet is right for you.
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.
Atomic Wallet is a new multi-asset solution that allows to manage Bitcoin, Ethereum, XRP and over 300 coins and tokens easily.
Some of the wallet’s best features are:
If you are trading lots of different tokens, this is the desktop wallet for you.
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.
The Mist Wallet is an Ethereum wallet created by the Ethereum Foundation. It is listed on the ethereum.org website as the most basic Ether wallet available.
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. Just a week ago, there was an issue with MyEtherWallet where its DNS got hijacked. The attackers were able to steal $13,000 worth of ether and ERC20 tokens.
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.
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 featuer 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 shouldnt know any personal identifying information about you.
If your mobile devices run on androind 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.
This video shows you how to pair the two:
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.
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.
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.
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.
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.
This post will show you the three best options to choose from, sorted by lowest price to highest price.
The Ledger Nano S is the cheapest of the three hardware wallets for Ethereum.
At 58 euros, it comes out to about $65 not including shipping.
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.
TREZOR costs $59 and like the S, TREZOR stores your Ether offline in its secure environment.
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.
Like the Nano S, KeepKey stores your Ether offline in a secure environment.
The main difference is the Nano S uses smartchip technology, while the KeepKey is more like a mini computer.
Another difference is KeepKey has a larger screen and a more “premium” feel. The KeepKey’s screen is glass and it has a sleek aluminum body. Although it looks nicer and feels more secure, the KeepKey may be more easily broken if dropped although we have not tested.
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 make it somewhat different than the other two. While the KeepKey’s “premium” feel is the only thing really separating it from TREZOR.
If you are mining Ethereum, then a hardware wallet will be your best bet for secure payouts.
This section will answer the most common questions about Ethereum wallets and Ether hardware wallets.
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.