There are many Ethereum wallets that are available in the market but have listed down the top 5 wallets for Ethereum crypto.
Ethereum is presently the second largest in terms of market cap after Bitcoin. Because of this reason, many investors are planning to invest in this crypto. So the demands for Ethereum wallets have increased as well. And in general opinion, all digital currency wallets should have the following:
- Private Keys: Wallets where you have the ability to control your private keys.
- Ease of Use: Sober UI for ease of use.
- Development Community: Wallets that provide you with an active development community.
- Security and Backup: Wallets that have restored and backup features.
- Compatibility: Wallets that allow compatibility with varied operating systems.
List Of Best Ethereum Wallets
It is essential for your Ethereum wallet to have those above mentioned features. If they are not there then your cryptos can be at risk. So before you buy Ethereum wallet, ensure it has everything that you will require for your crypto’s safety.
Trezor is the oldest digital currency wallet. It has a clear and straightforward interface. With respect to security, Trezor is quite advanced as the PIN code that it provides never leaves the wallet. This implies that even if you connect the wallet with a compromised computer your wallet, or its credentials won’t be at risk. According to experts, it is the best Ethereum wallet India available in the market. Along with that, it is a hardware wallet which is an added advantage as these wallets are less prone to get hacked.
Added features of Trezor One include its ability to support multiple digital currencies such as Bitcoin, Litecoin, Bitcoin Dash, etc.
If you are not much aware of the Ethereum network, then you should opt for this wallet. It is a software that can be downloaded as an extension in Chrome. Your Ethereum wallet remains accessible, on your browser with Metamask. Along with that, if you are a developer you get the advantage of interacting with Ethereum test networks as well. The Ethereum wallet download feature is its highlight.
An added feature of Metamask is that your private keys provide password encryption and remain in your machine and can be restored whenever you wish to.
Ledger Nano S
Ledger Nano S is one of the most popular hardware wallets presently available in the market. This allows you to store all your private keys in a physical device. As private keys are everything in digital currencies, where you store them is important and so hardware wallets are highly famous. The main highlight of this wallet is its security. As this is a hardware wallet there is no risk of technical loss or hacking.
An added feature of this Ethereum wallet is that it supports more than 1000 digital currencies and is extremely light weight and portable.
It is another wallet that is ideal for beginners. It is a new product in the market and has various features to make it stand out in the market. This Ethereum wallet is compatible with Mac OS, Linux, and also Windows. It also consists of an Ethereum wallet app, that can be downloaded on your smartphone and available wherever and whenever you wish to. The main highlight of this wallet is that it has a built-in exchange and also an easy to use interface that allows the exchange of digital currencies easily.
Added features of this wallet include its security. Even though it is new in the market, it does not allow any security glitches.
This wallet is created by the builders of Ethereum. So it is important to insert this wallet into our list. And this is the official Ethereum wallet that is available in the market. Also, this is considered as one of the best wallets for the Ethereum wallet for mining. This is an open source wallet that enables the users to use it for free.
An added feature of this wallet is that through this wallet Ether can be bought easily with the fiat currency.
In this article, all the Ethereum wallets that have been discussed by us have its pros and cons. But they are still the best wallets available in the market. It is important for you to evaluate and analyze every wallet before you start to use it because, in the end, the best wallet for Ethereum depends on your requirements and preferences.
Frequently Asked Questions On Ethereum Wallet
Trezor is the oldest digital currency wallet. It has a clear and straightforward interface. With respect to security, Trezor is quite advanced as the PIN code that it provides never leaves the wallet.
To create an Ethereum wallet, download an Ethereum wallet, open the application and write down your recovery sentence that consists of 24 words, then set a strong password, then add ETH to your wallet, and finally use your receiving address to receive your ETH.
Yes, there are free Ether wallets available. One such wallet is Mist. This is an open source wallet that enables the users to use it for free.
A good Ethereum wallet is important if you require safe storage for your Ether. Usually, ETH holders will want to purchase a hardware wallet if they are having plans to hold onto their ETH for a long span of time, mainly if they are holding large amounts of money in ETH.