10 Best Ethereum Wallets in 2022

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Investing in cryptocurrencies has become a popular choice for many investors and these days, even those who aren’t interested in this industry know about Bitcoin and Ethereum. 

These two virtual currencies are probably the most successful ones as of today, so they will be used as examples of how to store your crypto coins securely throughout this post.

Ethereum comes as an open-source software platform, which is why it has become so popular.  It allows the users to create smart contracts, decentralized applications and even Initial Coin Offerings (ICO). One of the most important features of this crypto coin is that it acts as a transaction facilitator because it can be used for making exchanges too.  This is the reason why Ethereum wallets are more common than Bitcoin ones.

What is an Ethereum Wallet?

An Ethereum wallet is a digital wallet that stores sends, and receives Ethereum. A digital wallet is like a bank account for cryptocurrencies. An Ethereum wallet holds keys (a secure set of numbers) which you can use to access your account in the same way that you would use a user name and password combination to log in to your bank account. A wallet is a virtual location for storing cryptocurrency, such as Ether.

Crypto wallets are not limited to just one currency. Depending on your individual needs and preferences, there are many types of Ethereum wallets from which to choose.

To use Ethereum, users need an Ethereum wallet. An Ethereum wallet is a service that stores your public and private keys and keeps track of your balance.

For example, a third-party wallet might charge fees for creating a new account or sending Ether. Ethereum is a popular cryptocurrency that uses blockchain technology. Blockchains are public ledgers of all transactions and actions in a system, and Ethereum has one of the most used blockchains. One way to interact with the Ethereum blockchain is to use an Ethereum wallet.

The Top 10 Best Ethereum Wallets

Ethereum is another big thing after bitcoin. So if you are looking to invest your money into something as an alternative to gold, then perhaps Ethereum would be a good investment for you.

On the other hand, if you hold ETH tokens, it would be advisable to find a safe place to store them. We will discuss the various Ethereum wallets and help you select the one that best suits your needs.

There are several Ethereum wallets, each offering unique features and benefits. However, the most essential point to remember when choosing a wallet is what you intend to use it for.

1. MetaMask

MetaMask is an Ethereum wallet for browsers that allows you to run Ethereum decentralized apps (Dapps) right in your browser without running a full Ethereum node. While this may seem like a limitation at first, it allows the user to access all of their favorite Dapps without having to download and sync with thousands of data blocks. For those unfamiliar with the concept, think of MetaMask as a sort of Google Chrome plugin that allows you to access Ethereum Dapps without having to use Chrome at all.

This element’s main benefit is that it enables users to interact with each website’s full functionality without downloading any unnecessary data or going through the installation process. In addition, MetaMask brings a new level of convenience to the world of Ether and Dapps with its simple-to-use system that’s compatible with popular browsers such as Chrome, Mozilla Firefox and Opera.MetaMask also integrates seamlessly with the Ethereum platform and allows you to send and receive transactions and access your favorite Dapps.

Pros

  • MEDconnect login allows you to log in to other applications through MetaMask without having to withdraw your funds first.
  • Incredibly easy to use interface for beginners and experienced users alike. 
  • It only requires one password; no need to copy a long string of characters each time you access your Wallet.  

Cons

  • Requires Google Chrome. If you are restricted with a limited internet connection or a highly restricted firewall, you may have a problem.
  • Meta Mask relies on Google Chrome’s security features for basic safety measures such as 2FA and password protection.

2. Ledger Nano X

The Ledger Nano X Ethereum Wallet is a cryptocurrency wallet that supports ETH, ETH Classic, and ERC-20 tokens. It provides full security for your private keys with recovery seed backup to prevent loss of funds. All transactions are verified on the embedded screen with an OLED display.

The Ledger Nano X Ethereum Wallet can be used on any computer or mobile device with a USB port. The Ledger Nano X Ethereum Wallet is one of the newest additions to Ledger’s hardware wallets line. It can store up to 20 cryptocurrencies, including Bitcoin, Bitcoin Cash, Ethereum, Ethereum Classic, Litecoin, Ripple, Dash and more. 

The Wallet has a touchscreen, so it’s easier to navigate with its intuitive interface. The Wallet also comes with Bluetooth support so you can keep your device secure while still making transactions on the go.

Unfortunately, it doesn’t have any on or off switch for security reasons, so you have to plug in the cable every time you want to access your cryptocurrencies. The Ledger Nano X also allows you to check the balance of your cryptocurrencies before connecting with the apps.

Additionally, it consists of a MicroSD card slot to store your cryptocurrencies as a backup.

Pros

  • This Wallet can be downloaded onto your Android or iOS phone or tablet, making it quick and simple to set up the Nano X with the companion app.
  • The Nano X supports Bitcoin, Ethereum, Litecoin, Ripple, Bitcoin Cash, Dash, Zcash, Neo, Ethereum Classic.
  • The Nano X uses a secure element chip, PIN protection and 2FA to prevent unauthorized access. 
  • This Wallet functions as big as a USB flash drive, but it’s compact and much smaller than other hardware wallets. 
  • The built-in screen makes this Wallet stand out from other hardware wallets that rely on connecting your device with a cable to a computer to use. 

Cons

  • The Wallet is pretty expensive compared to other options.
  • No web interface or desktop version makes the Nano X less suited to someone who is used to controlling their account with their PC rather than an app on their phone.

3. Trezor

Trezor is one of the most commonly used devices for storing cryptocurrency. Users can send or receive cryptocurrencies, check their balance, and control their wallets without giving up the security that Trezor provides.

The device prevents malware attacks by not exposing your private key to your computer. It also has an e-paper display which allows you to see your accounts in case your computer crashes.

The Trezor ETH is one of the most popular and trusted hardware wallets available. It has a storage capacity of 64GB and can store various cryptocurrencies such as Bitcoin, Ethereum, Litecoin, Dash, and Zcash. The Wallet uses a hierarchical deterministic (HD) architecture to make it easy for you to recover your private keys and access your coins. 

Trezor is a cryptocurrency hardware wallet that comes in a pen-sized device. The cryptocurrency wallet is compatible with different operating systems such as Windows, Linux, and Mac.

Trezor has an easy-to-use interface and doesn’t bother with sending emails or notifications before transactions occur. Wallet holders also have the advantage of two-factor authentication, which protects their accounts from online threats. 

Pros

  • Safe and secure way to store cryptocurrencies;
  • Convenient set up (took me ~ 10 minutes);
  • Offers 24 words seed backup – very good for security;
  • Touchscreen & buttons instead of only LED/screen indicator
  • Allows passwording encrypted private keys.

Cons

  • Limited support for other cryptocurrencies;
  • Does not have access to Etherdelta or IDEX, decentralized exchanges where you can exchange Ethereum for other cryptocurrencies.

4. Rainbow Wallet

Rainbow is a decentralized Ethereum wallet that will hold ERC-20 tokens. Rainbow has set out with the goal of making blockchain technology simple enough for anyone to use without extensive knowledge of coding or cryptocurrency terms. As a result, the Rainbow Ethereum wallet has some features that make it one of the most secure wallets on the market. These include:

  • Two-factor authentication. This allows users to access their account through an additional username and password combination, which is sent to them over email or text, providing a higher level of security.
  • Password protection. Using a strong password helps protect your account from being hacked or misused.
  • Free hardware devices. Hardware devices have the advantage of being more secure than software wallets. With the Rainbow wallet, users can connect their hardware device through a USB port and access their account anywhere.
  • Multi-signature transactions. Multi-signature (also called multi-sig) transactions help protect against the unauthorized transfer of funds. The number of signatures required for a multi-signature transaction depends on the complexity of the transaction.

Pros 

  • The price of the Wallet is free.
  • It has password protection to lock your Wallet if you are careless with keeping valuable information on your phone.
  • It has fingerprint identification, so it will be difficult for anyone else to access your Wallet.
  • Rainbow has a wide variety of languages that it can be stored in, making it the most accessible Ethereum app available for people.

Cons 

  • Not built by an active company that specializes in wallets. It is unknown whether they will take responsibility for the security of your Ether if something goes wrong with the Wallet.
  • No PC / web interface to access Rainbow is available, so you can only access it from your phone.

5. Guarda Wallet 

The Guarda Ethereum wallet is the best option for those who want to invest in cryptocurrencies. The application provides a “cold storage” option for keeping your money and offers an iPhone and android app friendly. It also has a video walkthrough on using the app, which makes it simple and easy to use. With this iPhone and Android compatible app, you can buy, sell, and even receive cryptocurrency easier than ever before. Guarda has been recognized as the best Ethereum wallet because its features can be accessed across any device. 

Guarda wallets are user-friendly, secure, and have a low transaction fee. In addition to this, Guarda offers a free demo version to help you figure out how it works. Guarda is available on every major operating system, and there are no limitations to use or personal data restrictions. The Wallet is simple and easy to use and can be downloaded in just a few minutes. There are many factors to consider when choosing a wallet, including security, ease of use, and the number of available cryptocurrencies. 

Pros

  • User-friendly interface – It’s easy to send coins using QR codes, so you don’t need to manually enter the address.
  • Free and open-source – You can download the app and check its code.
  • Always have access to your private keys – they never leave your device unless you want them to.
  • Supports most popular cryptocurrencies: Bitcoin, Ethereum, Dash, Litecoin etc.
  • Simple and secure way to manage your cryptocurrencies through its highly secured features. 

Cons 

  • There are no web or desktop versions in Guarda Wallet. All the operations must be performed on a mobile device, limiting their usage.

6. Argent

The Argent wallet is an Ethereum wallet that has been designed to be simple, functional and safe. It’s one of the best wallets for Cryptocurrencies because it’s so easy to use, provides advanced security features and has a user-friendly interface.

It’s not just a crypto wallet, though, as it also supports over 16 fiat currencies. One of the things that makes this Wallet stand out is its elegant design which strikes a balance between simplicity and sophistication.

This Wallet is easy to use, fast and has a great design that makes it easy to keep track of your cryptocurrency investments. The team behind this Wallet is continually updating their technology and improving what is already a great product.

Argent is regarded to be one of the best Ethereum wallets that people can use to store their cryptocurrency, in addition to Bitcoin. The Wallet is designed with the idea in mind to make it easy for beginners to get started with Cryptocurrencies.

There are no fees for deposits or withdrawals, unlike other major exchanges. In addition, Argent provides customers with a web-based wallet, mobile app, and debit card, all of which can withdraw fiat currencies from ATMs.

Pros

  • Argent has a very sleek design that makes managing your Wallet simple without all the features getting in your way.
  • One of the best mobile wallets available today.
  • Transaction fees and response time are among the fastest in the industry.

Cons

  • The lack of two-factor authentication means that people with ill intentions can gain access to your funds much easier than they would be able to do otherwise.
  • It is also very limited in terms of features.

6. Exodus 

Exodus is an all-in-one application for digital assets with a built-in exchange for trading between different cryptocurrencies. Exodus is a free desktop wallet that allows you to store and exchange Bitcoin, Litecoin, Ethereum and other cryptocurrencies.

In addition, it is the first desktop wallet with ShapeShift built-in, making it easy to trade Bitcoin for Litecoin and Ether for Bitcoin without leaving the Wallet. The Exodus team wanted Exodus to be an all-in-one cryptocurrency platform; we want people to make money on their computers or laptop.

The Wallet is available for free download that can be accessed from a computer or mobile device. It supports a wide range of cryptocurrencies, including Bitcoin, Litecoin, Dash, and Ether.

The Exodus wallet has been designed to be very easy to use with no extra bells and whistles for those looking for simplicity. Exodus Wallet is best for cryptocurrency for many reasons.

It also allows you to select how much data you want to give up by connecting through Tor, blocking scripts, and turning on Google DNS. In addition, Exodus provides several backup options, so you can recover your funds if anything happens to your computer.

Pros

  • An attractive user interface that is easy to use. The Exodus team had made their Wallet look professional, sleek and easy to use for crypto newbies.
  • Shapeshift integration means you can purchase Ethereum with other altcoins; users can exchange between the different cryptocurrencies they hold in their wallets.
  • Customer service is the most vital aspect of running a business, and Exodus excels at this.

Cons

  • The private key to your Wallet is stored on their servers. Exodus encrypts your Wallet with a password of your choice; the private key to your Wallet is stored on their servers.
  • No 2-factor authentication Exodus does not store user funds on their server. If your digital Wallet gets hacked, the hacker will access all of your funds.

7. KeepKey

The KeepKey Ethereum Wallet is a hardware wallet that supports Bitcoin, Ethereum, Litecoin, Dash, and ERC-20 tokens. It’s resistant to viruses and malware because it doesn’t have an operating system. It also has a secure PIN for security purposes. In addition, the device cannot be hacked because the private keys are held in an offline environment. The Keepkey Ethereum Wallet offers a solution for those who want to store their cryptocurrencies securely. What makes it variational from other wallets is that it only stores the private key on the device.

The KeepKey Ethereum wallet is one that many people like to use. This can be because of the simple interface to its users. It also features the ability to store multiple cryptocurrencies without going through a lengthy process each time you want to switch between them. Cryptocurrencies are becoming an inevitable part of modern life, and Ethereum is one of the most popular cryptocurrencies. With a KeepKey wallet, you can securely store Ether and other popular cryptocurrencies.

Pros

  • Keep key is extremely easy to use. Setting up the Keep Key is simple, and you can choose your PIN.
  • The device generates its signature inside the secure element so that prying eyes cannot read the private key. This provides extra security for KeepKey.
  • Keep Key supports the following cryptocurrencies: Bitcoin, Litecoin, Dogecoin, Namecoin, Testnet and Ethereum.
  • The device itself is simple and can fit in your pocket, or it can be carried around with a keychain if necessary.

Cons

  • You must have access to a computer to use Keep Key, and it is not compatible with mobile wallets at this time.
  • Users cannot store bitcoin on the device at this time, although future updates are planned for Keep Key that will allow more cryptocurrencies to be supported.

8. Atomic Wallet

Atomic Ethereum Wallet is a suite of unified tools for developers, traders and investors alike. With Atomic Ethereum Wallet, you can easily trade coins, store both ETH and ERC-20 tokens, access your private keys, explore decentralized exchanges and much more.

Atomic Ethereum wallet is the best choice for storing your Cryptocurrencies because of its security, convenience and range of features. For example, atomic Wallet utilizes a trustless system to ensure that your private key is never stored on the server.

The Atomic Wallet also provides multiple assets for storage. Atomic ETH is a high-security wallet that uses a mnemonic phrase and offers private keys to ensure that your coin and token holdings are safe and secure.

The Wallet is integrated with ShapeShift, one of the best cryptocurrency exchanges on the web. Atomic ETH has been rigorously tested for security and works with any Ethereum token. Compatible with PC, Mac, Linux, Android smartphones, Google Chrome extension and Opera browser extension for use on PC desktops.

Pros

  • Users can store ETH, ERC20 tokens, NEP5 tokens, BTC and LTC in one app
  • Quite cheap when compared to many other wallets that support multiple coins! Only 0.1% fees on orders
  • They also provide support for hardware wallets like the Ledger and Trezor
  • The team is very transparent and open to answering questions

Cons

  • It’s super new, so we don’t know how secure it is (it might get hacked)
  • No Shapeshift integration yet – Hard to get customer support on the app, only through email or Telegram.

10. JAXX

The Jaxx cryptocurrency wallet is one of the newest and most secure wallets on the market. It offers a wide range of cryptocurrencies, including Bitcoin, Ethereum, Litecoin, Dash, Zcash, Augur REP tokens and many more. It also allows you to exchange or trade between these currencies on the fly.

In addition, the Jaxx ecosystem is open source, so its software is transparent for users to see what is happening with their funds at all times.

Jaxx Ethereum wallet provides a platform to securely store Ethereum and other Cryptocurrencies by allowing users to back up their wallets or by enabling them to create a new wallet. Jaxx is a hassle-free wallet for cryptocurrencies. It’s available on multiple platforms and supports 14 different currencies.

Jaxx connects to a local node to access the blockchain network, which keeps it safe from centralized failure. The application also comes with a password manager, making it easy for users to update passwords without risking any hacks.

Pros

  • Supports many cryptocurrencies such as Bitcoin, Dash, Ethereum Classic, Dogecoin, Zcash and more.
  • The user interface is aesthetically pleasing; it looks like a native application for the operating system it runs on (macOS or Windows).
  • Robust security, including 2-factor authentication and PIN protection.
  • It can be accessed through your web browser (works on mobile) without compromising security.
  • No transaction fees when sending funds from the Wallet.

Cons

  • Connecting to a third-party server can slow down blockchain synchronization times.
  • Contains advertisements for third-party apps and services.
  • No multisig or smart contract support.

FAQs

How Does an Ethereum Wallet Work?

An Ethereum wallet is software that stores your private and public keys. It allows you to send and receive Ether, the currency of Ethereum. An Ethereum wallet can be in the form of an online service like Coinbase or MyEtherWallet, or it can be a physical device like the Ledger Nano X.

Are Ethereum Wallets Safe?

Ethereum wallets are safe for the most part. However, it is essential to keep your private key in a safe place. If you lose your private key, you will not be able to access your Ethereum wallet and all of the funds contained within it.

How do I withdraw money from an Ethereum wallet?

There are various methods to withdraw money from Ethereum wallets. The most common way is to sell your Ether for fiat currency (i.e. USD) on an exchange, then start the funds into your bank account. You can also use a service like Shapeshift or Changelly to convert your Ether into another digital currency like Bitcoin, which you can then withdraw to your bank account.

How do you convert ETH to cash?

The easiest way to convert ETH to cash is to use an online exchange. Many reputable businesses will allow you to do this, but two of the most popular are Coinbase and Kraken. Once you have an account set up with one of these exchanges, you can quickly transfer your ETH into USD or any other currency supported by the exchange.

Conclusion

Ethereum wallets are a necessity for people who own cryptocurrency tokens. These wallets support the storage of Ether and other crypto-assets such as Bitcoin, Litecoin, and Ethereum Classic. They also come with features like cold storage, which stores your private keys offline and offline transactions and backup and recovery options in case of computer malfunctions.

Ethereum wallets are digital wallets on the blockchain that operate worldwide. They are easy to use, private, and secure. You can store any ERC-20 token using Ethereum wallets, so you have more control over your funds. In addition, all transactions made in Ethereum wallets are private and anonymous because they’re not tied to your identity. Ethereum wallets are designed to store, send, and receive Ethereum tokens. These wallets are generally used by cryptocurrency traders who use Ethereum as the base trading currency. The wallets allow for quick trades, lower fees, and more secure transactions.

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