Ever since Cryptocurrency blew up, there are a bunch of things people are eager to grab, one of which is a wallet for their favorite cryptocurrency. However, there are quite a few who don’t even know what a wallet is, let alone which one would be good for what cryptocurrency. In case you’re wondering about this yourself, here’s a quick lowdown about the best Ethereum Wallets in the market at present, chosen after extensive research.
What is a cryptocurrency wallet and how does one pick the best among them?
Much like how you can keep your fiat currency (paper notes or coins) in a physical wallet, your cryptocurrency can be kept safe in a cryptocurrency wallet. There are some kinds of wallets that store just one kind of cryptocurrency, while others can store a little of many.
The safety of the wallet often comes at a cost of utility. That is why paper wallets are regarded the safest but become inconvenient as cryptocurrency because you need to carry paper prints, which can be difficult. So instead of taking a black-and-white approach to this, we decided to judge wallets based on overall comfort and utility to the user. Here are our top 5 choices for Ethereum Wallets
1. Exodus: Best Desktop Wallet
Exodus is perhaps the best Ethereum Wallet, period. It is free and effortless to set up, and requires no additional initiative to learn since the UI and program design is so easy to grasp. The visual method of laying out information is especially endearing. Using it to trade and exchange is easy, and true to PC app format, it is very customisable. Also, it works on Linux, which earns it points for a lot of programmers and Linux fans.
2. My Ether Wallet, or MEW: Best Web Wallet
My Ether Wallet is pretty amazing if you’re looking for an online option to store your Ether in. The website only requires you to register to the portal which takes about a minute. You can use the service to transfer your coins around and store it, pretty standard. It is ideal for people who’re looking to store the coin for a short time and then shift to a bigger or otherwise different coin.MEW is regarded as the safest Ether Wallet by a lot of people, and it also comes with its own cold-storage capability. It could do with a few tweaks, but it is still pretty much the best option to store ETH since it is simple and straightforward, and offers a decent amount of transparency.
3. Trezor: Best Hardware Wallet
Trezor is believed to be the first hardware wallet for BTC, though we’re not sure how accurate that is. Trezor can also store Ether for you and given how convenient it is to carry and store and hide conveniently in the tiniest pockets and spaces, it’s not a bad option at all. The device can be plugged to a PC using a USB cable. Other important features include password protection and offline storage, which can be useful when you don’t want to leave a footprint on a non-secured WiFi network.
4. EthAddress(.org): Best Paper Wallet
EthAddress is inarguably the only option you need to look into when you’re looking for a neat paper wallet for your Ether coins. Among the most interesting options available is the availability of vanity addresses to make remembering your account details easier. The wallet can be scanned through a QR code on mobiles and other devices which lends the wallet a lot of power and authority.
There are other good ones too. There’s Jaxx which can also be used as a Chrome Extension (actually, it is compatible with virtually every platform). There’s Mist that people love for being so sensitive and compatible with peoples’ privacy concerns. There are also neat web options like using an exchange like Binance, Cryptopia, HitBTC or Gate.io, which though sorted and easy to figure out only provide limited functionality as compared to full-fledged wallets and are often judged less secure than wallets.
There might be some disagreement on which wallets one finds best, of course. In general, there are a couple of factors one can use to decide objective merit in each crypto wallet, case by case. A few factors we considered include How easy and accessible the wallet was to someone who didn’t know much about wallets or cryptocurrency. Then, the security arrangements became an important factor; nobody wants their wallet to end up missing coins one morning, or compromised in some other way. The last priority was what systems the coin was compatible with, in addition to the platform it was already faring good at. The cryptocurrency market is still fairly new, which is why we had to give them some leeway in cosmetics and appearances. We welcome your opinions on all of this and all other related topics, of course. Let us know what you feel about the various wallets and if you think we should consider something more or skip some detail or consideration.