best Ethereum wallet reviews for 2021

Ethereum has one of the highest market capitalizations in the world of cryptocurrencies, so it is not surprising that there has been a large influx of attention from the general public.

With this increased attention comes the need for a safe place to store the ether.

So let’s talk about Ethereum wallets. Think about what you really need to store your ether. Some questions to ponder:

  • Do you need a wallet that can hold multiple currencies or just Ethereum? re are many wallets that allow you to hold different cryptos, as well as some that are strictly for Ethereum.
  • Do you plan to frequently trade your Ethereum? Some wallets make trading easier for frequent traders, and others prioritize security and it can be a bit tricky to trade them frequently.
  • Do you want to access your wallet from anywhere, anytime, or just from one location? re is often an inverse relationship between accessibility and security.

By the end of this guide, you will know the most popular Ethereum wallets and which one is perfect for you.

best Ethereum wallets

What to look for in an Ethereum wallet

Finding the perfect Ethereum wallet shouldn’t be difficult, but it does require a general understanding of how crypto storage works.

Broadly speaking, there are generally four different types of wallet:

  1. Hardware Wallets – se wallets are physical wallets that have your private keys encrypted. se are the safest. Gringotts Magic Bank level. Hardware wallets allow you to keep your cryptocurrencies in ‘cold’ storage, offline, so that your coins are inaccessible to internet hackers.
  2. Online Wallets – se wallets exist online. Duh. While they are still considered extremely safe, the fact that they are connected to the internet exposes you to a small amount of risk. You can use these wallets on a variety of devices.
  3. Desktop Wallet – se wallets are downloaded and installed on your computer (PC or laptop). Once installed, only that specific computer can access the wallet.
  4. Paper wallets – se wallets are pieces of paper with your private keys on it. se are extremely risky because if you lose this piece of paper, the possibility of accessing your coins in the future is extremely small. Goodbye mulah. Also, most of the paper wallet builder sites are actually phishing sites that prey on novice crypto traders. Paper wallets for Ethereum are particularly inadvisable as there is a substantial lack of good options .

When looking for a secure cryptocurrency wallet, keep an eye out for the following four features :

  1. Private keys – You want to have a private key that only you own. se are essentially the keys to accessing your coins, and the security here is non-negotiable.
  2. Development Community: Since Ethereum wallets are relatively new, the reputation is huge. Look for an active development community with a promising future.
  3. Simple user interface – look for something that is easy to use. You also want to make sure that your wallet is compatible with different operating systems.
  4. Security and Support – Minimize your exposure to human error. Don’t be the person to make headlines for losing a million dollars in crypto by displacing your hardware wallet and forgetting to back up your information.

Save yourself the hassle and find a wallet that meets all four of the criteria above.

SAFE

TREZOR is a hardware wallet, which means that it stores your private keys offline (which you already knew because you read the above text carefully, right?). Originally invented for Bitcoin, users can now store Ethereum on TREZOR using the MyEtherWallet web interface.

This flash drive-sized device stores ether offline with a secure electronic chip. Users can only activate this electronic chip by logging in with their password. TREZOR also uses a limited USB connection, which means that it can even safely interact with computers that may have been compromised or infected.

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Overall: TREZOR is a great option because it is extremely secure, has an active development community, and allows users to store both Bitcoin and Ethereum. It costs around $ 99.

Ledger Nano S

Ledger Nano S is one of the highest rated hardware wallets because it excels at all four of the criteria we mentioned above. interface is very easy to use. It comes with a small OLED screen that makes it easy to control your transactions. Users can set a 4-digit pin on the physical wallet itself, which is an added bonus to prevent keylogging.

Ledger Nano S stores ether offline and requires users to sign transactions with their private key to spend ether. Also, the Ledger Nano S has an option to create a recovery seed to recover your private keys if the device is lost or broken. This additional feature minimizes the risk of losing all your coins if you misplace your device. Ledge Nano S alleviates the stress of using a hardware wallet and stores both Ethereum (ETH) and Ethereum Classic (ETC).

Overall: Ledger Nano S is shoulder to shoulder with the Trezor, but it is priced much more carastly at $ 65. sleek user interface and added security features make it an extremely competitive option for any cryptocurrency investor.

Exodus wallet

Exodus is a desktop wallet and it is the world’s first desktop wallet that can hold multiple cryptocurrencies. While most crypto wallets are limited to only Bitcoin and Ethereum, Exodus makes it possible to maintain a much more diverse portfolio.

One of the most attractive aspects of Exodus is the flawless and clean user interface that presents a user’s portfolio as a pie chart. Exodus is always connected to the Internet, but it does not take your private keys from your device. Additionally, one-click email recovery and backup startup keys make restoring your wallet possible.

It also has ShapeShift built in, making cryptocurrency trading much easier. benefit of Exodus is that you can trade crypto with ease, while you would have to go through a lengthy process with hardware wallets.

Overall: While Exodus has a wonderfully simple user interface, it is important to remember that you are always connected to the internet. This fact alone makes it slightly less secure than a hardware wallet. Although the risk is negligible, it is worth mentioning.

Coinbase

Coinbase, a web wallet, is the simplest and easiest to use compared to other options on this list. It is both an exchange and a wallet platform. You can buy Ethereum, Bitcoin, and Litecoin with fiat currency and keep your cryptocurrencies safe.

Since private keys are stored on Coinbase’s hosted servers, you ultimately don’t have full control over your keys. Fortunately, Coinbase is an extremely credible San Francisco-based company with a valuation of over a billion and a reputation for being very safe and trustworthy.

Overall: Ease of use makes Coinbase the best option for many beginners. only downside is that ultimately, users don’t have the same kind of control over their private keys that they would with a hardware wallet.

MyEtherWallet

MyEtherWallet is an open source web wallet that differs from Coinbase and other traditional web wallets in that you are in full control of your private key on your computer. This means that you can generate new wallets and store your ether without having to do it on the MyEtherWallet servers. This also means that you are fully responsible for backing up your wallet safely.

MyEtherWallet is great because it allows you to write and access smart contracts. It also connects with Trezor and Ledger Nano S to securely access your Ethereum within the MyEther platform.

Jaxx

Jaxx is a software wallet that supports many of the leading cryptocurrencies, including Ethereum. wallet is available in:

  • Android (mobile and tablet)
  • iOS (mobile and tablet)
  • OS X
  • Windows
  • Linux
  • Chrome (extension)

re will also be a hardware wallet coming soon.

Designed with the end user in mind, the wallet is easy to use and has an intuitive interface that even a novice user should have no trouble figuring out.

With Jaxx, the power is completely in your hands. All keys are created on your local device and are never sent to any server. Because of this, the company has no way to access your funds. Jaxx also avoids collecting personal information and you do not need to provide any verification to use the wallet. For crypto enthusiasts who value privacy, this is a wonderful thing.

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On top of that, the Jaxx wallet code is auditable for anyone. This brings a level of trust to the community because anyone can audit their codebase and expose any issues or loopholes. Jaxx emphasizes that to prevent malicious copycats, its code is not open source. However, the level of transparency they provide should be sufficient to give the company its confidence.

Overall: With a clean interface and complete control over your wallet keys, Jaxx is a great option for storing your cryptocurrency. wallet has more security than a purely online option, but it has more vulnerabilities than a hardware wallet.

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Fog

Mist is a hybrid desktop wallet with a web interface and is the official wallet listed on the Ethereum Project website . However, the product is still in beta, so there may be problems using it. To help with these issues, the development team provides a list of common issues and how to fix them on their Github wiki .

wallet is available on Mac, Linux, and Windows, so if you’re reading this, chances are you can use it.

Mist protects your wallet with a password that can never be changed once set. I recommend that you choose a strong password and do not forget it. Write it down, memorize it, keep it in a safe, tape it to the bottom of a table in the middle of a park, whatever you need to do to make sure you will remember it. If you lose this password, you will have no way to access your wallet.

With the fog, you have complete anonymity. You can download and use the wallet without having to provide any personal information or identification. You also have full control over your private keys which are saved on whatever device you use to download the wallet.

Overall: As an official Ethereum wallet, you can’t go wrong choosing Mist. Although there are other wallets with a better interface or more security (hardware wallets), this endorsement adds a significant amount of trust to the platform.

MetaMask

MetaMask is a browser extension that allows you to run Ethereum dApps directly in your browser without having to run a full Ethereum node. More than a wallet, you can also interact with dApps and smart contracts in MetaMask.

Currently, MetaMask is only available as a Chrome extension or through the Brave browser, but the team states that they plan to support Firefox and the rest of the popular browsers soon.

Your account information is encrypted and stored locally in your browser, so no information reaches the MetaMask servers. You also have full control over the management of your private keys.

If you have trouble starting with MetaMask have a video on your home page you can see as well as a section full of attention to the client on its website.

As a web-based wallet, MetaMask has inherent risks that are not found in hardware wallets. Your funds are still susceptible to software viruses, but you should be fine as long as you follow proper security guidelines.

Overall: MetaMask is another great option for storing your Ethereum. As a bridge to the distributed web, the platform is ideal for people looking for a wallet with a few extra features.

Guard

Guarda is a simple, lightweight, and secure multi-signature wallet that supports Bitcoin, Ethereum, Tether, EOS, TRON, and hundreds of other assets.

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Users can use Gaurda to buy, sell and trade cryptocurrencies. Guarda is particularly notable in that it allows users to stake their assets on a relatively user-friendly interface.

Gaurda was launched primarily for Ethereum in 2017, but has since expanded to a wide variety of blockchain-based products, supporting over 10,000 different tokens, cryptocurrencies, and stablecoins. company also has a FIU license (reg. FVR000109) for virtual currency in exchange for fiat currency.

Gaurda’s site points out that the company values ​​user privacy and anonymity and that the platform does not store its backup files, private keys, or any other data on Guarda’s servers. Gaurda CEO Paul Sokolov has spent over 5 years in the blockchain industry, with interests in non-custodial cryptocurrency management and privacy solutions. CMO Maria Carola started at Guarda as a copywriter and has since progressed to oversee all of Guarda’s marketing efforts.

team offers 24/7 support for its users.

Overall: Gaurda seems to be a great lightweight non-custodial solution for a wide variety of tokens. staking aspect is really good, and we encourage our readers to educate themselves more on the concept before taking action.

Final thoughts

Before you free yourself into the world of Ethereum wallets, let’s go over some final tips. Make sure to pay attention because these tips could end up saving you a ton of time (and coins) down the road.

  1. ALWAYS backup your wallets. Many of the above wallets feature the option of using a pneumonic or seed phrase in case something happens to your wallet. This is pretty standard, but be sure to check if it’s not explicitly stated. It is silly to lose all your coins because you lost your phone or fried your hard drive.
  2. Add extra security. Simple additional security measures, such as 2-factor authentication through Google Authentication, could prevent you from being hacked in the future. Please note that text message verification is not such a secure method as phones can be cloned.
  3. Keep your software up to date. This is why it is important to look for an active development community for whatever wallet you choose. se communities are dedicated not only to making wallets more robust and user-friendly, but also putting security first. Take advantage of this. Make sure your software is up to date.

Make sure you stay up to date with the latest in Ethereum security. more you know, the better you will be at investing and protecting your cryptocurrencies.

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