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In this post, we will talk about “Review of 5 Best Ethereum Wallets for 2018 (All Options Reviewed)”. There is now another cryptocurrency many have thought worth turning to, Ethereum. Initially released in July 2015, Ethereum or Ether for short currently has the second largest market capitalization, and is now available on many Exchanges worldwide. This decentralized cryptocurrency Ethereum is now also exchanged directly for Bitcoin by a couple of Bitcoin wallets and is gradually becoming able to do all that the Bitcoin can.
Just like any other altcoin, Ethereum has a wallet, wherein Ether is stored; in fact, there are many alternatives from which to choose. The most important things to watch out for are the Ethereum wallets security. Here, we will take you through the very best options and guide you on which to choose, to suit your personal needs.
Features of A Good Ethereum Wallet
After you have found a wallet, which is compatible with the operating system on your device, then look out for the following.
- Private keys: wallets where you personally control your private keys are the best.
- User interface: an easy-to-use user interface makes the whole experience simple for both beginners and experienced users.
- Security and backup: Your Ethereum wallet security is your top priority and backups for retrieval are very necessary.
Review of 5 Best Ethereum Wallets
Let’s start here. When it comes to Ethereum wallet security, Hardware wallets are the most secure. Ledger Nano S is a Hardware wallet that takes pre-eminence among the others because it is the secure wallet among secure wallets.
This wallet is a portable vault for keeping your Ethereum safe, resembling a USB flash drive. It is an offline wallet through which transactions are made using a computer device, although it also has a mobile app. Because of the tough security it ensures, Ledger comes with a price of about $65 (excluding shipping). It has an OLED screen, which displays a pending transaction and allows you to either “confirm” or “decline” the transaction.
Amazingly, it can be used even on a hacked computer system.
For Bitcoin users, this is a very well known name. Trezor is a Hardware wallet, which was launched in 2014, and offers the same level of security as Ledger, having your private keys encrypted into it. It is light and portable and is the first Bitcoin Hardware wallet, it was initially used to store only Bitcoins, but via the MyEherWallet web interface, Trezor can now store Ethereum as well.
Trezor can be gotten for 89 Euros and is the wallet recommended for the storage of very large amounts of Ether.
Since this wallet can only be activated by a password and is used offline, hence being inaccessible to online hackers, it is said to be hack-free.
Exodus is a Desktop wallet, which can also be used to store Ethereum. It is also one of the best Ethereum wallets available. The exodus software has to be downloaded and installed on a PC or laptop then it can be used, but only from that device in which it was installed. It uses ShapeShift to exchange cryptocurrencies directly and can be used to store Augur, Bitcoin, Dash, Dogecoin, Ethereum, Factom, Golem, and Litecoin.
The user interface of Exodus is very smart, and although it is used online, your private keys are stored only on your machine. It is therefore very secure and backs up your wallet for the sake of recovery.
Among the Hardware wallets, Keepkey, which was launched in 2015, takes third place among Ethereum Hardware wallets. And is very costly, with a price of up to $129. Nonetheless, Keepkey has an easy to use interface and strong security.
Jaxx is one of the software Ethereum wallets for different cryptocurrencies including Bitcoin, Ethereum, dash, Ethereum Classic, REP, Litecoin, Zcash, RSK Testnet, and many more. Jaxx is not open source but is secure, having privacy keys that stay on your device. Jaxx is compatible with Windows, iOS, Linux, Mac OS, Android and a Jaxx Hardware wallet is soon to come. It also has a mobile version.
Read here the complete review of Jaxx Wallet: JAXX WALLET REVIEW – (ALL OPTIONS REVIEWED)
These Ethereum wallets are very efficient but never forget to backup your wallet, use two-factor authentication for extra security and always update your software wallets. Ethereum wallets will keep improving as time goes on so also try to keep up with the most recent developments.