by Satavisa Pati
October 23, 2021
Ethereum wallets are applications that let you interact with your Ethereum account. Think of it as an internet banking app – without the bank. Your wallet lets you read your balance, send transactions, and connect to applications. You need a wallet to send funds and manage your ETH.
Ledger Nano X
This is the most modern ETH hardware wallet that you could get. Ledger has been a pioneer in the industry of hardware wallets and they support Ethereum all the tokens of the Ethereum chain. Right now, Ledger Ethereum integration is available via MyEtherwallet which makes it easier for you to manage your Ethereum coin. Apart from ETH, you can also store many other coins. This is the successor of the popular Ledger Nano S. The major difference is it has a battery and Bluetooth, so mobility has increased significantly. Moreover, you can manage more Coins at the same time. Using Ledger Nano X is as easy as the Ledger Nano S which I have mentioned below. The price is only US$119 and all future firmware updates are free. The price also includes free shipping.
Ledger Nano S (Hardware Wallet)
The Ledger Nano S is one of the most inexpensive Ethereum hardware wallets available (US$59). Here, Ether is stored offline on the device. Whenever you want to spend Ether, Ledger signs it using the private key stored on the device. You can store both ETH & ETC. I have published a few video guides on using Ledger Nano S that you must check out. This will help you to learn everything about Ledger Nano S. The best thing about the Ledger Nano S is that it comes with a small OLED screen that allows you to control your transactions. The security is so robust that you can use your Nano S device even on a hacked computer.
Trezor (Hardware Wallet)
Trezor was the first hardware wallet invented for Bitcoin. However, now Trezor can be used for Ethereum too with the MyEtherWallet web interface. It also stores Ether offline on a secure electronic chip which can be activated only when you log in with your password. It is a very light and portable device. It comes in 3 colors – white, gray, and black – and costs US$99.
Atomic Wallet (Desktop and Mobile)
Atomic Wallet is an ultimate solution for Ethereum and ERC20 tokens. The wallet enables you to store, exchange, and buy ETH with a bank card. In the future, Ethereum will be available for swapping with Atomic Swaps, a fully decentralized way for exchanging cryptos without involving intermediaries. Atomic Wallet supports over 300 cryptocurrencies and provides you with its interface for all ERC20 tokens. Basically, you can input a contact address and have your custom coin in your Atomic Wallet. The wallet encrypts your private keys on your device and gives you full access and control over your funds. Atomic Wallet is available almost for any desktop operating system and will be on Android and iOS devices.
Guarda (Desktop + Mobile)
Guarda is a non-custodial wallet for storing Ethereum. The Guarda wallet has an intuitive interface and offers a high degree of protection. The wallet is available for Desktop, mobile, and web interface is also available. When you set up a Guarda wallet, you are the only one who controls the private key. This way, you are in complete control of your Ethereum coins and other coins if you wish to store them on Guarda. No personal information is required to use Guarda wallet which has become a De facto standard among all top Ethereum wallets.
Argent is the most modern mobile wallet for Ethereum. This is one unique ETH wallet that is non-custodial but it doesn’t let you store the private key. The wallet is configured using your Email address and mobile number and can be recovered using the same. The unique feature about this wallet is integration with compound, finance which lets you lend your Ethereum and let you accumulate interest. The wallet also has a dAPP browser and if you want your non-techie family and friend to use an Ethereum wallet, this is the easiest one for them and for yourself.
Exodus (Desktop Wallet + Mobile)
Exodus is the world’s first multi-cryptocurrency desktop wallet. It is free to use and has an attractive UI. As soon as you open the Exodus wallet, a pie chart will show your entire portfolio of coins. It supports seven cryptocurrencies (including Ethereum) and is the first desktop wallet to have ShapeShift built in for exchanging cryptocurrencies. However, while using Exodus, one needs to always be connected to the internet, but you need not worry as your private keys never leave your machine. Features like one-click email recovery and backup seed keys for restoring your wallet ensure the security of your funds. Exodus now supports close to 100 cryptocurrencies! They also have multiple exchange partners (not just ShapeShift), which means they can offer more exchangeable assets. Sourcing liquidity from various partners has made exchanging in Exodus faster and more reliable.
Jaxx (Mobile Wallet)
Jaxx is a multi-asset wallet created by the Canada-based company, Decentral. It supports 13 cryptocurrencies (including ETH) and has an elegant design with robust security features. On Jaxx, private keys never leave the device, and features like seed keys enable you to restore your funds whenever required. It has an amazing development community that looks after the innovation and maintenance of the product. Jaxx wallet is available for Android, iOS, Mac OS, Windows, Linux. They are also launching a hardware wallet in the coming months.
MetaMask (Desktop Wallet + Mobile wallet)
MestaMask is like a browser to access the Ethereum network. It not only enables you to store and send Ethereum but also allows you to access decentralized Ethereum apps. It has an intuitive design where you can switch quickly between a test network and the main Ethereum network. Here is a video showcasing how MetaMask works:
MyEtherWallet (Web Wallet)
MyEtherWallet is different from other traditional web wallets. It is an open-source wallet, with no third-party servers, where you can write and access smart contracts. It has an inbuilt BTC to ETH (and vice-versa) swap facility. You can also connect your Trezor or Ledger Nano S to access your funds in MyEther’s browser environment.
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