Going All Digital With Ethereum? Here Are The Top Five Best Ethereum Wallets

Best Ethereum Wallets

Ethereum has emerged as a tough contender in the world of cryptocurrencies, threatening the position of Bitcoin as the number one. There are speculations that Ethereum may even successfully replace Bitcoin from its position and enjoy the number one spot for quite some time. This strong trust that many cryptocurrency enthusiasts and investors have laid on Ethereum is the main driving force, the propellant that is making it a force to reckon with.

However, with a growing trend of buying Ethereum based coins, investors should also ensure that they are going for the most trustworthy and best Ethereum wallets. This would ensure them a safe, secure and powerfully encrypted Ethereum trading tool, which will effectively keep out malware and hackers reaching their Ethereum deposits.

Best Ethereum Wallets

We have brought you a list of top five, the best Ethereum wallets and hopefully even for the next year that will provide you with all the security and transactional features.

You Might Like: Best BitCoin Wallets

Let us take a look at who they are and what features they provide you.

For The Beginner, For The Simple User: Ethereum Wallet By Coinbase:

Go To: Coinbase Wallet

If you are a beginner to the cryptocurrency world and do not want to face complexities in setting up your Ethereum wallet, this is the best option that you can go for. It is effortless to set up, along with its security settings.

However, it comes with some issues. First, the company Coinbase holds your private key, which means that you are not in the control of your Ethereum account. So they may shut your account down for any possible reason. And this has happened to some before.

Also, it does not support Ethereum Classic. There you go another inconvenience if you are an Ethereum Classic currency holder.

For The Security Obsessed: Hardware Wallets:

Yes, we realize that this is not one single brand and a category. But the whole category is so peculiar that it deserves to be explained as one. If you are extremely particular about the security of your Ethereum account and cannot trust software based sources for security, you better go for a hardware wallet. The best Ethereum wallets in hardware are:

  1. Ledger
  2. TREZOR
  3. KeepKey

The tradeoff here are the prices. These hardware wallets cost anywhere from $50 to $100, not including the shipping charges. So if you are ready to shell this much moolah, go ahead! Also, if you lose them, times are going to be hard.

For Those Who Already Coinbase: Jaxx Ethereum Wallet:

Go To: Jaxx Wallet

Why the title, you may ask. The reason is quite evident that the features provided by Jaxx are the exact opposite of those provided by Coinbase, except for its simple interface. This wallet supports Bitcoins as well as Altcoins, which is in itself a big deal. On the other hand, its user interface is quite easy to use, even for cryptocurrency noobs.

However, the most significant uptick that Jaxx gets is that it supports both Ethereum as well as Ethereum Classic, which makes it an attractive contender on this list despite being new here. Also, the company does not control your private key, unlike Coinbase.

Find A Middle Ground On Desktop – Welcome Exodus Wallet:

Go To: Exodus Wallet

But middle ground from what? Between Coinbase and Jaxx. But before discussing that, let us talk about its core value. Exodus is one of the most trustworthy and highly secure desktop based Ethereum wallet available today. Its simple interactivity, coupled with security helps it get a place on the list.

However, unlike Jaxx, it does not support Ethereum Classic, it supports only Ethereum on your desktop. And unlike Coinbase, it does not store your private with itself, but rather on your machine.

One downside to Exodus Wallet is that it is not open source.

Ethereum On The Web – MyEtherWallet:

Go To: MyEtherWallet

This Ethereum wallet allows the user to manage their Ethereum account online, without having to hand over your private keys to it. So despite being an online service, it still lets you keep your private keys.

When you initially create an account, it asks you the currency of your choice. When you create an account, it will generate public and private keys that will be password protected, password of your choice. The website will also send you a file along with the public-private key for future use.

Therefore, whenever you are storing Ethereum on your online wallet, you will have to upload this file.

Concluding Words

Buying an Ethereum wallet is not much of a head-scratching task at all. If you know what you need and especially what platforms you are fine with to store your Ethereum, you can easily choose your wallet, of course after considering the trade-offs.

Best BitCoin Wallets: Top 10 List of Hardware, Hosted and Mobile Wallets

best bitcoin wallets

When I started investing in Bitcoins, I used hosted bitcoin wallets like coinbase, Zebpay etc. Its the same case with everyone. However, if you are investing continuously you should consider using harware and other mobile wallets for storing your bitcoins safely. In this article, I have talked about the few best bitcoin wallets (Hardware, Hosted, Mobile and Desktop).

Top Best BitCoin Wallets

The following are 10 of the best Bitcoin wallets to store your Bitcoins safely  :

1. Ledger Nano

ledger nano wallet

Ledger Nano is similar to the Trezor wallet and is a direct competitor to it. Ledger Nano uses a technology similar to the one Trezor users to store Bitcoins, but the Ledger Nano comes with a metal frame and looks much sleeker. Also, the user interface of this wallet is much more intuitive and user-friendly.

You can get ledger nano discounts from here: Ledger Nano Coupons

2. Trezor Wallet

trezor wallet

Trezor is a hardware wallet created by the company – Satoshi Labs, a startup based in Europe. This wallet is in the form of a USB which connects to desktops and laptops. Trezor was designed especially for those who are looking for a highly secure way to store their Bitcoins. It uses a two-step authentication which makes it near impossible for hackers to get your passkey and steal your Bitcoins.

3.  Mycelium

mycelium wallet

Mycelium quite is easily one of the most loved Bitcoin wallets in the world. It is in the form of an app that can be installed on your smartphone and take anywhere with you; this enables you to have instant access to your wallet anytime, anywhere.

The best thing about Mycelium is its features. The more adept Bitcoin users will love this wallet. The wallet is well supported by a dedicated development team that constantly tries to innovate thus adding new features every few months. Mycelium also offers a cold storage service in the form of a small prepaid card which you can carry anywhere with you.

4.  Coinbase

coinbase bitcoin wallet

Coinbase is one of the most popular Bitcoin trading services in the world. It is mainly a brokerage service that sells bitcoins in return for fiat money such as US Dollars, Pounds, Yen, Euros, etc., but it also has a subsidiary website called GDAX which allows Bitcoin to Bitcoin trading.

Coinbase also offers a wallet service with the following features such as support for multiple accounts, requesting and sending of Bitcoins to other users, buying Bitcoins using different payment methods, etc. Signing up for the wallet service is very simple, and the interface is user-friendly meaning that you can easily learn how to use this wallet in a matter of minutes.

5. Exodus

exodus wallet

Exodus is the first Desktop based cryptocurrency wallet which can store bitcoin and many other altcoins like ETH, DASH, LTH and more.

Exodus has a very good integration with Shapeshift exchange. You can use Exodus wallet in MAC, Windows and Linux systems.

6. Blockchain wallet

Blockchain is one of the most popular Bitcoin wallets at the moment. The wallet is known for its intuitive user interface that is easy to use. Bitcoin wallet stores your information on their services thereby increasing third-party risk, but they have an excellent security record. The wallet is hierarchical deterministic which means that it does not use the same address for more than one transaction, thus giving an extra layer of security. Blockchain is rich in features and offers many different options that most other wallets lack.

7. Breadwallet

Breadwallet is an open source software that is available in the form of a smartphone app. It is designed in a certain way to make sure that the wallet can be used by everyone, both beginners and those adept at trading Bitcoins.

Breadwallet is hack proof for the most part as there is no central server. It is a standalone client that uses SPV mode to connect directly to the Bitcoin servers. The performance of the wallet is ultrafast, and user interface very easy to learn, thus making it one of the best Bitcoin wallets out there.

8. Copay

Copay is what experts call a Hierarchical Deterministic wallet. What this means is that in case you lose any data in your wallet, they can be restored with the help of previous backups, this helps in reducing the risk of loss to a great extent.

Another important feature of Copay is that it is open source and is not backed by any company or organization. Also, Copay allows users to check the current trading rates of Bitcoins in over 150 different currencies.

As far as security goes, Copay uses different Bitcoin addresses for each transaction which largely reduces the risk of a hack. Copay also offers various other features like remote backup storage, HD address generation, etc.

9. Electrum

Electrum is an open source Bitcoin wallet that is available for download on Windows, Mac, Linux and on smartphones running Android and iOS. Electrum is known for being extremely fast when compared to most of the other wallets. The application does that by using a technique where it does not download the entire blockchain onto your device, but by rather using a network of special servers that create an index of the blockchain. It is also highly secure as all your data is encrypted and stored in your hardware and not anywhere else.

10. Armory

Armory is a highly secure Bitcoin wallet filled with features available for users across different platforms. It is widely rated as the most the most secure bitcoin wallet around. Providing such a high level of security comes at a cost, and here it is complexity. It takes to for one to fully understand the different features of Armory, but once the user gets the hang of it, it is quite easily one of the best Bitcoin wallets to use.

11. MultiBit

MultiBit is another open-source Bitcoin wallet that is very much similar to Breadwallet. This wallet was created by the same people who created KeepKey, one of the best hardware Bitcoin wallets around. Like Breadwallet, MultiBit also connects directly to the Bitcoin servers using SPV. Also, this wallet comes with a restoration option where you can restore your previous backup by entering a passphrase.

What is a BitCoin Wallet and Types Of Bitcoin Wallet

what is a bitcoin wallet

Bitcoin has been grabbing the headlines of all financial news media for the past few weeks. It is largely thanks to the fact that the value of Bitcoin has grown nearly ten times since the start of the year. And the most amazing part about this is, it is only predicted to grow further.

So, if you are looking to invest in Bitcoins, this is the perfect moment to do so. Bitcoins have a high value these days, which is why it is essential to save them in a safe and secure place. And that is where Bitcoin wallets come in.

What is a Bitcoin Wallet?

Bitcoin wallets are like banks for Bitcoins, but with a difference. Unlike regular money, Bitcoins cannot be stored anywhere. So, what exactly does a Bitcoin wallet store? Every Bitcoin has an address, and all these addresses have keys to access them. Without these keys, you lose access to your Bitcoins, hence storing them in a secure location is of high priority. A Bitcoin wallet stores these keys in a safe and a secure place.

You Might Like: Best Cryptocurrency Exchanges: List of Top 10 exchanges

Types Of BitCoin Wallets

There are many different types of Bitcoin wallets, here are some of them :

Desktop Wallet:

A desktop wallet is in the form of software that can be installed on your desktop computer or laptop. It can only be accessed from the computer it was installed on, thus making similar to cold storage. Storing your Bitcoins in a desktop that is not connected to the internet prevents any threat of hacks.

Online wallets:

These wallets are online services that store your keys on their encrypted servers. Only you can access them with the help of a password or passphrase. Online wallets can be accessed from anywhere at anytime.

Hardware wallets:

Hardware wallets are small devices that are not connected to the internet or any other network, These devices are portable and are used only to store your Bitcoins. Trezor is a famous example of this kind of wallet.

Mobile wallets:

Wallets that come in the form of an application that can be installed on your phone is called a mobile wallet. These wallets can be both connected to the internet or not connected to it.

Physical wallets:

Physical wallets are nothing but address keys printed on a piece of paper. This paper can then be stored in a secure location to prevent loss of theft. Websites offer services through which users can print the address keys on paper.