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Best Ethereum Wallets [2018 Updated]

List Of 7 Best Ethereum Wallets

Best Ethereum Wallets to store their Ether safely.

Ethereum currently has the second largest market cap and is growing. Increasing confidence in cryptocurrencies increases the demand for them. People also wish to hold more amount of cryptocurrencies. Consequently, the need to store cryptocurrencies securely is essential. From hardware wallets, which are good at offering cold storage solutions to web wallets that are quite easy to use, find out the wallets that best serve your interests.

What Is Ethereum?

Essential features of a Good Wallet

Control over your private keys

Wallet needs to provide you full control over your private keys. That would prevent anyone from freezing your funds. It also protects you from unauthorized transactions. Wallets must not store the private key on their server. They must store them on your hardware protected with encryption. Ensure that your wallet is backed up.

Validation

Transactions are signed and broadcasted to the Lightcoin network. When a wallet uses a full node for this purpose, it ensures the highest level of security. Otherwise, a third party trust is required. Full nodes offer the best level of protection but they are difficult to maintain as they use a lot of space and bandwidth.

Transparency

An open-source wallet allows for anyone to check the code and scrutinize it. This makes sure that there is no secret code hiding in the software. A wallet also needs to be a deterministic wallet.  A deterministic wallet derives its keys from a single starting point known as a seed. The seed allows for an easy backup/ restore of a wallet without needing any other information.

Full Control over fees

Wallets must not pre-decide the fees. They must offer flexibility and let you choose the fees. Wallets must also suggest fees based on real time. This offers great flexibility to the users.

Enhanced Privacy

Wallets must prevent spying on your payments by rotating addresses. Ensure that you always use a new address whenever you are transacting. Wallets must allow you to use Tor so that your Bitcoin address is not associated with your IP address.

List of 7 Best Ethereum Wallets

A secure wallet lets you be in control of your private keys. Additionally, a user-friendly interface and good development support are critical. Multi-Platform and cross-platform support is a big plus. Finally, top security features and good backup options make for a great cryptocurrency wallet.

Hardware Wallets

1. Ledger Nano S 

  • A top-rated multi-currency wallet that also offers support for Ether.
  • Offers top-level security features.
  • Cold storage – Ether is stored offline on the device.
  • Choose a PIN to protect this device. A 24-word seed generates your private keys.
  • The private keys hence remain in your control.
  • Whenever you want to make a transaction, Ledger makes it without exposing the private keys.
  • Moreover, it can be used with MyEtherWallet web interface and also connected to other Mobile Wallets like Mycelium, Jaxx etc.
  • Buy it from the official store or from Amazon.

2. Trezor 

  • Light and portable device.
  • Offers top-level security features.
  • Cold storage – Ether is stored offline on the device
  • Private keys, hence remain in your control.
  • Make a transaction without exposing your private keys.
  • Moreover, it can be used with MyEtherWallet web interface.
Ledger Nano STrezor
Features
 Multi-currency Support Yes Yes
Built-In-DisplayYesYes
Multi Apps SupportYesYes
Backup and RestorationYesYes
Specs
 Display 50 Millimeters LEDBright OLED 128×64
 Operating SystemWindows, Mac, Linux or Chrome OS Windows, macOS, Linux
MobileAndroidAndroid
Design
Size98mm x 18mm x 9mm60mm x 30mm x 6mm
Weight16.2g12g
Control over Private keysYesYes
 Environment 

vulnerablility

Very secure environmentVery secure environment
Transparency  Not review enoughComplete transparency

Three Best Revolutionary Bitcoin And Altcoin Hardware Wallets To Consider

Desktop Wallets

1. Exodus 

  • https://www.exodus.io
  • Multi-cryptocurrency desktop wallet.
  • Rich user interface and free to use.
  • Additionally, ShapeShift is in-built enabling cryptocurrencies exchanging.
  • Private keys remain in your control.
  • Offers one-click email recovery, so you need to register with an email.
  • Easy backup with backup seed key.
  • Supported Platforms: Mac, Linux, and Windows.
  • However, smart contracts are not supported.
  • Note that Exodus is not a 100% open source project.

2. Mist

  • Official Ethereum wallet – Mist
  • Mist stays synchronized with all the Ethereum nodes.
  • A password needs to be set up to use this wallet.
  • Private keys remain on your device and hence is secure.
  • ShapeShift is in-built enabling cryptocurrencies exchanging.
  • Supported Platforms Mac, Linux, and Windows.
  • No registration required/ No need to share personal information.
  • Has support for smart contracts.

Web Wallets

1. MyEtherWallet 

  • Best web wallet – MyEtherWallet
  • Open-source wallet, with no third-party servers.
  • Private Keys remain in your control.
  • Has an inbuilt BTC to ETH (and vice-versa) swap facility.
  • You can write and access smart contracts.
  • Supports Trezor and Ledger Nano S integration.

2. MetaMask (chrome extension)

  • MetaMask is a bridge that allows running Ethereum dApps right in your browser without running a full Ethereum node.
  • Enables you to store and send Ethereum.
  • Private keys remain on your device and hence is secure.
  • Currently is a Chrome extension, but eventually plans to support Firefox and beyond.
  • MetaMask includes a secure identity vault, providing a user interface to manage your identities on different sites and sign blockchain transactions.
  • How it Works:

Mobile Wallets

1. Jaxx 

  • Get it here: Jaxx
  • Multi-asset wallet that supports up to 13 cryptocurrencies (including ETH).
  • Private keys remain in your control.
  • Easy backup with backup seed key.
  • Supported Platforms: Desktop (Windows, Mac OS, Linux), Extension (Chrome, Firefox), Mobile/Tablet (Apple, Android).
  • No registration required/ No need to share personal information.
  • Has support for smart contracts.

Alert: ETHAdress has been non-functional and has received reviews that it is a scam. Currently, the website is down.  

Now that you have seen a brief snapshot of the best Ethereum Wallets choose the one that works for you. While It is always recommended to keep the bulk of your crypto wealth in cold storage (Hardware wallets), it is recommended to soon get comfortable using official wallets. It is also not recommended to store in any currency exchange.

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