Choosing the best Ethereum wallet: pro tips
Ether is currently booming the world of crypto money. More and more beginner cryptos and experienced professionals are searching for the best services to store this type of digital currency. If you are one of them, you will definitely need to know the basic concepts about the eth wallet and discover the best Ethereum wallet 2020. In this post, you will find a full range of important information about choosing the best wallet for Ethereum, as well as know more about the most popular solutions for storing your favorite coins.
When you need to store your cash or credit cards, you usually use a wallet. The same rule works for crypto money. There are plenty of different kinds of storage you can use for keeping your coins safe. These solutions don’t have any special form since they come in the digital form.
With the help of classic ether wallet, you can effortlessly store your digital money, keep in touch with your balance, as well as perform different transactions.
How to get an Ethereum wallet? Top features to look for in the service
When choosing the handiest platform for storing your crypto, you will surely come through a wide range of different solutions. Some of them might contain unique features, while the other might seem to be similar from the first glance. So, is it possible to pick up a perfect Ethereum wallet online with minimum effort? Sure! Just don’t forget to check these important features and parameters when looking for your top-notch system.
Reputation. Being one of the vital parameters of any ether wallet, the reputation of the service and the reviews of the real users are one of the first things to check. The matter is that the service you will use should have a perfect reputation and a minimum number of unsatisfied customers. Moreover, exploring the reviews will give you an idea of the basic pros and cons of the chosen platform. This simple trick will help you to sort out and avoid using the worst solutions from your list.
Safety. Anyway, the best ether wallet should be 100% safe. In the age of cybercrimes, many services often suffer from the attacks of hackers. The crypto storages are one of those solutions that are at risk. This means you will need to pick up the wallet with an advanced and the most innovative security options that will help you to feel safe when storing your coins. By the way, don’t forget to set up all the functions in your wallet to maximize your security.
Backup. The backup feature is one of the highly demanded options for thousands of crypto pros. In case something goes wrong with your wallet, you will be able to restore everything important.
Gadget-friendly. In case you are planning to use your Ethereum online wallet on different devices, it is better to make sure whether your platform supports different operating systems. Most services support Windows, Mac and Unix OS, as well as iOS and Android.
User-friendly design. This feature is highly valued by newbie cryptos. In case you are new to the area of cryptocurrencies, it is better to pick up an easy-to-use platform. The matter is that there are tons of services that are designed only for professional traders and contain lots of functions you have no idea about. In this case, it is recommended to choose the intuitively understandable wallet that is designed for different types of users.
Ability to store different types of coins. There are numerous services that are focused on storing and making transactions with Ethereum only. These are not the best solutions in case you would like to use different crypto. This way, it is better to focus on multi-currency systems or use different wallets for different coins.
Private keys. This is one of the vital functions of any modern Ethereum storage. Using private keys is a must for any secure platform so it is better to avoid using the services that lack this safety option.
Community. It might be a good idea to pick up the service that has a modern and active development community. This way, you will get an up-to-date wallet that will be updated from time to time for meeting the requirements of the modern services of that kind.
Support. The customer care system is among the leading functions for any handy wallet. This means both beginners and pro users are likely to choose services that provide fast and expert help. In case you suddenly face any issue when using your program, you will be able to get pro assistance within the shortest terms.
How to set up an Ethereum wallet: prompts to start using a chosen service
Creating your personal storage and setting it up is easier than you might think. Most platforms offer a handy interface that will help you create Ethereum wallet in a matter of minutes. Here is a brief guide on how to make it.
When you open the website, you will see some safety notifications. It is better not to skip this information and read the reminders. This way, you will better understand the basic concepts of using the service, as well as discover the most effective functions to use to protect your coins.
After you’ve read all the necessary guides, it’s time to create your wallet. To begin with, you will need to set up the password and choose an option to download your Keystore. To boost your privacy, it is better to choose the offered functions. After that, you will need to save your private keys. Make sure to remember it or store it in the safest place. The fact is that you can easily lose access to your storage in case you lose your keys. The next step is to unlock your wallet. Follow the instructions of your solution - there are several ways you can do that.
Each time you want to access your storage, you will need to pass the authentication. When you log in to your wallet, you can also find its unique address and check your balance.
Most common types of Ethereum wallets
There is nothing new that there are different types of storage to help you keep your coins safe. Various solutions have their own unique properties and might fit completely different needs. Here is a list of the most popular options among the crypto wallets you can find on the digital market.
Paper-based. This solution is considered to be one of the safest wallets. To put it short, it is just a piece of code written on a paper. One of the benefits of this type of storage is that it is not connected to the World Wide Web with no chance to get hacked by any third parties. You can store it anywhere you would like to and even take the code with you all the time. In case you keep your code safe, you can also have a good protection of physical theft. To get paper storage, just choose the Print option in your service and get a special code come out from your printer in a matter of seconds.
Mobile-based. These are light-weighted solutions that are extremely easy to operate. You can download and start using this type of storage in a blink of an eye since you are not required to store the entire Blockchain. These are platforms that are widely used by those people who prefer making operations on the go. These wallets can be easily used on your smartphone via Wi-Fi or mobile-cellular networks. However, these are the easiest to hack options.
Desktop-based. These are wallets that support computer or laptop devices. The users can choose from using a light version or download a client with an entire blockchain. These Ethereum wallets are very easy to set up and usually have a pleasant design with all the functions available at hand. However, these solutions require having an Internet connection and are at risk of being stolen. Make sure not to lose your PC to minimize the risks of being out of pocket.
Web-based. These types of storage are also called online wallets. What makes them different from similar options is that they are incredibly fast. Unfortunately, these wallets often suffer from cyberattacks since the cloud storages are available online. Moreover, these services are often affected by malware and third-parties, so it is better to choose the most reputable platform with top-notch security options.
Hardware. These types of crypto wallets are designed in the form of cold storage. The storage is usually a small hard disk. To get access to your wallet, you will need to plug it on your PC. This means hardware storage is not connected to the global network and has the highest protection from hackers. Moreover, these crypto containers also have extra security functions, such as PIN and 2-factor authentication. The most up-to-date solutions also have a handy screen that displays information about your financial operations. Hardware wallets are not very expensive and might be very useful for those storing Ethereum in large quantities.
Custodial Wallets. These are secure platforms, provided by the third-party developers that offer storing and protection services of your crypto. What is great about these solutions is an option to restore your data in case you forget your password or just lose your private keys. This type of wallet doesn’t have many differences from web crypto containers. In case you don’t mind giving control to a company to have quick and easy access to your funds, you can benefit from this type of container.
Top Ethereum wallets: the best options to suit your needs
When searching for the most fitting solution for storing your Ether, you will surely find these solutions to be among the most popular ones. Do they really work? What are their main advantages and drawbacks? Do all of them are great for beginners? Learn more about the best options available on the crypto market.
Cold storage: top choice
Cold containers for cryptocurrencies are currently on the rise. There are plenty of different solutions available on the market but we’ve chosen the safest and the most popular options for writing this review.
Ledger Nano S
This container continues to hold its niche with an attractive price and lots of great functions. Being one of the cheapest alternatives (the price is only $60), this storage has a boom in sales. In case you are looking for a miniature hardware solution that has an intuitive design, you will surely enjoy using this device.
The service has an innovative operating system, also called BOLOS that allows using the gadget in a superb convenient and safe way. When you get the package with your device, you will find a gadget itself, the cable, the keyring, and a sheet of paper to write your password that comes in 24 words.
What is excellent about the wallet is that you can always restore your data in case of a loss with no need to connect the global network. The device will ask you some questions and will allow you to restore the information in a blink of an eye.
The wallet is as simple, as 1,2,3, making it one of the most demanding containers for beginners. Not only you can store Ethereum with the help of the device, but it also supports dozens of other kinds of cryptos. This is a universal gadget with top-notch security and simple interface. The solution comes in the form of a classical USB drive and is pretty lightweight. This means you can effortlessly take it wherever you go. Among the drive’s drawbacks is that its code is not available in the open-source. Moreover, it can be duplicated in case you store it unproperly.
This crypto container was one of the pioneers on the market and gained a perfect reputation since then. Although it has a completely different look from a popular Ledger Nano S, it still has a brilliant design and premium security level. The service is compatible with all the modern operating systems and has a totally easy interface. It also has a handy screen for your convenience to display important data when performing different types of operations.
The device has a separate environment that is not connected to your PC. In case your computer is being hacked or infected by viruses, your crypto storage will still be completely safe. This feature is ensured by the fact that the security code never leaves your portable device.
Not only you will use your PIN to enter the storage. The gadget randomly generates code that should be entered on your computer. You will see this special code right on the LED screen of your Tresor. You don’t need to use the Internet connection for these purposes since the code is always generated offline with the help of the software embedded in your Ethereum container. In case you accidentally entered the wrong numbers, you will need to wait to get the next attempt. The time-lapse between the attempts is increasing with each wrong combination. The gadget is a little bit pricier than its analogs and is available for only $75. This is also a multi-crypto container. However, it doesn’t support a few popular types of coins.
Being one of the most expensive alternatives on the market (the current price is $120), the gadget is surely worth its money. It has a 100% safe environment to store your Ethereum along with the other most popular types of digital money.
The device has a brilliant HD feature that is developed for creating an unlimited number of your personal private keys. Although KeepKey has not a lightweight design, it still has a handy screen for extra security and convenience.
There is nothing easier than setting up your Ethereum storage. The only thing you will need to do is to get 2 Chrome apps. The first app will create a crypto money container, while the second one is for establishing a connection with your Keep Key. The hardware is fast and easy of making transactions, being a wonderful solution for new crypto enthusiasts.
This gadget is a premium hardware storage with an amazing big screen. It has a uniquely innovative and smart design that will be surely enjoyed by most tech savvies. Ledger Blue works perfectly with all the most common types of OS and is available for $277. What is awesome about using the tool is that it has an incredibly convenient touch screen, where you can manage all your crypto transactions in a few taps.
The gadget is designed for keeping Ethereum and other types of crypto money in a single place. The service has all security options available in Ledger Nano S, its counterpart. However, the premium device has better user experience and continues to be one of the leading options in the line of hardware money containers. In case you are not having a too limited budget, you can purchase the device and enjoy making all financial operations in a comfortable way. However, it is important to note that the drive is one of the largest and the heaviest options among the wallets.
Ledger Nano X
Searching for a modern container of a reputable company but would like to have an uncommon solution? That’s not as difficult as you might think. Nano X is superior storage from the world-famous Ledger family of crypto wallets. The device is used for storing Ethereum coins along with other cryptos in a top-notch way. The solution integrates with MyEtherWallet and makes it possible not only to keep your money safe but also perform various types of transactions with currencies.
Unlike most analogs, Nano X uses Bluetooth for setting up the connection with your computer. There is no need to deal with all these annoying cables and use a wireless communication between your PC and money container. The device is fully supported by the developers and will automatically update to ensure the safest performance.
By the way, using Nano X is a way easier than other Ledger developed wallets. It has an updated interface that will assist you in keeping your assets completely safe. X device is available for around one hundred US dollars.
Hot containers: top choice
Hot storage is an amazing solution for those who are tired of numerous additional gadgets. This type of container is created in the form of a simple program that can be used on various types of smartphones, tablets, computers, and laptops. Some apps are the only desktop, while the others are developed solely for mobile. Fortunately, there are also many adaptive solutions that can fit any device.
Many users are desperately searching for the easiest and the most modern solution to suit their personal crypto preferences. Coinbase is an outstanding option any crypto enthusiast can dream about. Originally, the program was developed as a Bitcoin container but extended the number of supporting currencies with the rise of its popularity. According to the recent data, Ethereum has become one of the coins available to store in this convenient wallet.
The app is operating in dozens of countries, so you are likely to find your country of residence in no time. You can always check this data on the official website of the chosen crypto.
The system is as easy as a piece of cake. To become one of lucky Coinbase users, you will need to register on the platform and get your personal public address. After that, you get full access to the entire functionality of the service - feel free to store your coins or move your ETH to other users.
Are there any cons of using the app? Yes. The fact is that your private keys will be stored on the program’s servers. This means the wallet is a great choice for keeping your currencies for a short-term period. In case you are planning to store crypto and are not going to make any transactions in the nearest future, it is recommended to pick up some paper or hardware options.
Planning to spend all your money on purchasing Ethereum and other cryptos? Need a budget-friendly solution to hold your money? Searching for a platform with minimum fees? We have awesome news for you. There is a solution that revolutionized the world of crypto! This is the Robinhood wallet.
So, what is so cool about using the platform? The fact is that it is totally free. No, there is no mistake. The wallet is a unique container that doesn’t require making any payments at all. This includes:
No deposit fees
No subscription payments
No transfer fees
No withdrawal fees
Sounds miraculous? Robinhood is an incredible choice for those who want to save money for using the money container. This is also a splendid alternative for those, who would like to try purchasing and making deals with crypto and are not planning to trade in super-high volumes.
To get your Robinhood account activated, you will need just one business day that is surely very fast especially for a free service. In case you have some worries about the program’s support of different OS, you can leave all these behinds. Robinhood is a flexible app that is compatible with all the common systems (both mobile and desktop) The service is under the regulations of the US financial authorities and is completely safe and legal. Like all the classical hot wallets, the app has a two-step login and can boast of having the highest investor protection. Among the drawbacks of the popular service is a lack of pro customer support via chat or phone.
This service is hitting the list of five most popular web wallets for Ethereum. The program will surely suit the demand of completely beginner users since it is crafted in the form of a website account. To put it simply, you will need to register on the platform and can start using it immediately. What is also good, is that you are not required to provide any personal data to pass the verification process. After all, you will be able to get an access to your money container from any device and any browser of your choice.
However, this storage has some peculiarities that differ from its analogs. The main thing is that you are allowed to get 100% control over your private keys on your computer. Furthermore, the wallet has an open-source that makes it even more attractive for professional users.
Please note that using any web storage is at your risk. Be careful of fishing and fake websites that are designed by hackers to steal your coins. If you are a big dealer, it is better to search for safer solutions.
A BitcoinWallet is one of the most fitting alternatives for hundreds of users. The storage supports plenty of kinds of crypto, including Ethereum, the one you actually need. In case you are searching for a simple service available in lots of countries globally, you can enjoy using BitcoinWallet.
The program has a standard number of security features, so you can forget about having any worries about your crypto. However, an app has pretty high fees. This means a container is great for storage but not for performing numerous operations with your digital money.
By the way, the solution has no customer support, so you’d better be extremely careful not to lose your keys to the wallet.
The storage is an outstanding platform for those users, who need to make deals with different types of coins. One of the extraordinary advantages of Exodus is that supports storing and dealing with more than 100 types of cryptocurrencies. Surely, Ethereum is included to this list.
The program values your privacy the most and doesn’t require providing any personal data. Furthermore, it doesn’t store any kind of individual information on its servers. This is surely cool for those who want to get a nearly 100% private wallet.
What is also brilliant about the popular crypto website is its well-polished support. If you are new to the area, you will find all the necessary information about using the platform from A to Z. All the features, concepts, and tools are described in detail. In case you still face any issues when using Exodus, you can contact its support team and get the answers within the shortest terms. The security tools of the pop platform are also above average.
This cryptosystem is not the greatest tool for beginners. However, it will become a perfect program for experienced crypto enthusiasts. This means Electrum has an advanced interface that might no be completely understandable for those making the first steps in the world of digital money. You will not find any tips or descriptions when using the service or while setting it up on your device.
The client is only suitable for desktop machines, so it is better to use it only on your laptop or PC. However, you still don’t need to download the entire Blockchain to your machine - the wallet is lite and will not take plenty of free space. Moreover, it is fast and easy for those who know the crypto area well enough.
The solution also supports some popular hardware storage, so you can easily combine different solutions to maximize your safety and privacy.
There are plenty of different types of Ethereum containers you can find online. Feel free the one that perfectly fits your needs and budget. Be careful with storing your keys and always use all the security utilities, provided by your solution. It is also a good idea always to back up your wallet and update it on a regular basis.