If you are into the crypto world for sometime now, then you would be aware of Ethereum which is the 2nd most used cryptocurrency after Bitcoin. Not only this, over a period of last few days, Ethereum has jumped from $40 to $300.
So by seeing such a huge value in this volatile currency, a lot of people are inquisitive about it. Hence, more and more people are willing to buy it and store it for future profits.
Recently, I bought a few Ethereum for long-term investments and trust me it was really hard to find a reliable Ethereum wallet.
So, I just went on a quest to find the Best Ethereum Wallet which could be a perfect fit for me. While looking a good ETH wallet my only concern was to keep my hard earned money safe, secure and secret.
Moreover, I had also covered various ways to Buy Ethereum here.
CageTip: If you do not keep your Ether safely then you might end up loosing them. This happens especially with the beginners who store their Cryptocurrency on the Exchange/Wallet, where they bought it from.
Best Ethereum Wallet for 2017
These are the Top Ethereum Wallets:
|Ledger Nano S||Hardware Wallet||High|
Let’s have a detailed look at all the Eth wallets along with their features, pro and cons.
But first of all, let me tell you that there are a different type of Wallets and each has different security and ease.
- Hardware Wallet
- Online Wallet
- Desktop Wallet
- Mobile Wallet
- Paper Wallet
First of all we will talk about the most secure and safest way to store your cryptocurrencies i.e. Hardware Wallets.
Ledger Nano S
Ledger Nano S is the most popular and affordable hardware wallet currently available in the market. You can easily store your ETH, BTC, ETC, DASH, XRP, DOGE, STRATIS and a few more.
When you use it for the first time, you will choose a PIN to protect this device. Then you will get a 24 word seed that will be used to create your private keys. Hence this device becomes very secure as you own the Private keys yourself.
Ledger Nano S can easily be connected with other Mobile Wallets like Mycelium, Jaxx etc to check the amount and other relevant details.
#CageTip: Don’t forget to note down the 24 word seed as it will be used if you forget the PIN. Also, write it on a paper not on the computer as this seed controls your cryptocurrencies.
Here comes another Hardware(HD) wallet which is widely used around the world. This was the first known HD wallet used to store Bitcoin. However, Later it supported Ethereum aswell.
If you want to send your BTC or ETC, you have to connect your Trezor with Trezor webpage. This device is really very safe to store your Ethereum for a longer period of time.
This reliable device cost just $99 and is available in 3 different colors – White, Black and Grey.
Coinbase is one of the most popular Online Wallet for Bitcoin and this year they have added Ethereum as well.
Since Coinbase is an Online Wallet, you do not own the private keys and if the Wallet is attacked by the hackers then you might loose your Ethers.
So, I would suggest you to keep only a small amount of Ethereum in the wallet and for large amount you can use Hardware wallets like Ledger Nano S.
But before planning to buy Ethereum, Don’t forget to check the list of the countries where Coinbase gives its services.
Here are a few quick steps to use Coinbase:
- Visit and Create an Account at Coinbase
- You will get your public address.
- Now, Transfer your ETH to Coinbase’s public address
- That’s it! You can store your ETH on Coinbase any number of days.
But make sure to send your ETH to Ledger Nano S, if you have a large amount of it.
Exodus is a very popular Multi-currency Desktop Wallet. If you are into Bitcoin then you might already know about it.
This wallet is absolutely Free to use and has a very attractive interface. You can hold multiple currencies in one wallet like BTC, ETH, DOGE, Factom, Golem etc.
Since it is a Desktop wallet, it saves the Private Key on your Machine itself. Hence you can easily connect your PC/Laptop to the Internet without any security concerns.
This is one of the Best Ethereum Wallet because of its security and amazing user interface. However, Exodus is not 100% open source as many of the codes didn’t get to be fully reviewed by the community.
This Desktop Wallet for Ethereum is not much popular is really worth a try. This is not really a Destop Wallet, it is a chrome extension which saves your keys on your machine itself.
MetaMask is really very simple and easy to use, thanks to its technology. You can not only store your Etherium but also send or receive to other addresses instantly.
Since it is decentralized, it also allows you to use other dApp within. They might soon be available for Firefox, Internet Explorer and beyond.
Mist is the official Ethereum wallet, hence you do not have to worry much about the security.
This wallet is similar to Exodus but a bit more complicated for a layman.
- Download Mist on your Device
- Select “Use The Test Network”
- Now Set your Password
- You can Now see your Ether Wallet
#CageTip: Write Down your Password or Remeber it, as you can not change your Password again. Their is no way to use the account with the password.
This seems trippy right 😀
As per a non-techy user, it could be a bit tricky but trust me it’s really very secure and safe way to store your Ethereum. Also, the keys are stored on your Machine hence it becomes much safer.
Another thing that I would like to add is that you can instantly exchange currencies as it has shapeshift built in.
MyEtherWallet is quite different from all the other wallet that we had discussed above. Here you can Create, Send and Receive Ethereum without any compromising your private keys.
It is an open-source wallet where you can write and access smart contracts. It also has an inbuilt BTC to ETH and ETH to BTC exchange feature.
- Visit MyEtherWallet
- It will ask you to Enter a Password and create a New Wallet
- Now Download the Keystore File & Generate Wallet
- You can accesss your Ethereum Wallet anytime now.
Note: The password you enter only encrypts your private key. You will need this password and your Private Key to unlock the wallet. It’s double authentication.
So Here comes the most secure cryptocurrency wallet i.e. Paper wallets.
If you are good at safe keeping a piece of paper then trust me ETHAdress is the one for you. ETHAdress is an open source project that will create a Private and Public key for you with a single click. You can then print it on a paper and keep it safe.
This is the best if you want to store your Ethereum for a long term. This is no way that you can lose your Ethers unless you lose that paper.
Not only this, if you want to add another layer of security, then you can encrypt the private keys also.
It will only take a few minutes to get started with this cold storage Ethereum wallet.
So which Ethereum Wallet is the best?
If you want my clear cut suggestion, then I would suggest you to get a Hardware wallet. There are 3 popular Hardware wallets(Ledger Nano S, Trezor, Keepkey) and all three of them are really very secure. It would cost you something about $60 – $100 but then you do not have to worry about losing your large amount of money.
It would cost you something about $60 – $100 but then you do not have to worry about losing your large amount of money.
Moreover, I would prefer Ledger Nano S as it is the latest, cheapest and robust Hardware wallet that I had ever come across.
So that was it for today, I hope you liked this article and till now you must have successfully selected the Best Ethereum Wallet for yourself.
And if you found this article helpful then don’t forget to share it with your Ethereum enthusiast community.
If you want to know more about Cryptocurrencies then have a look at:
Feel free to drop a comment if you have any query or experience about Eth Wallets.