Ethereum wallets are essential to people who own Ether tokens. With these tools, you can send, receive, and store your assets, while also conducting some additional services – based on compatibility with the wallet itself.
Over the years, several companies have made an entry into the wallet space, thus providing users with a wide array of options to choose from. Our guide of the best Ethereum wallets in 2020 takes a lot of the popular options and explains what makes them stand out.
This Article Contains:
- What to Look for in an Ethereum Wallet
- Best Ethereum Hardware Wallet
- Best Ethereum Desktop Wallet
- Best Ethereum Mobile Wallet
- Ethereum Paper Wallet
What to Look For in an Ethereum Wallet
When selecting an Ethereum wallet, keep the following in mind:
Unequivocally, this should be the most prominent consideration for you. A wallet that doesn’t prioritize the safety of your funds makes you vulnerable to hackers and other cyberattacks.
b. Ease of Use
It doesn’t make much sense if you have an ETH wallet that’s hard to navigate. You should be able to sign up, register, and transact on the app easily.
c. Asset Recovery
Asset recovery is an important feature that you should have, in case you lose access to the wallet or your device. The best Ethereum wallet will provide you with a recovery phrase and other backup features for a swift recovery of funds.
d. Additional Features
Some other capabilities like built-in exchanges, browsers, and even interactions with decentralized apps are bonuses that are becoming popular in crypto wallets. With a built-in exchange function, you can easily buy or trade your Ether.
e. Clear Terms
No one reads terms and conditions these days, but the best Ethereum wallets have clear stipulations on functionalities and fees. In the case of a dispute, this could help provide clarity.
Best Ethereum Hardware Wallet
Ledger Nano S
Ledger is a French wallet manufacturer that has built a solid reputation for itself in the crypto space over the past few years. The Nano S is one of the firm’s most popular products.
This hardware wallet looks like an everyday flash drive. The package comes with a USB cable that connects your hardware wallet to your computer device. This hardware wallet stores your Ether offline, which is essential for the security of funds.
A significant feature on the Nano S is the BOLOS, which is integrated with a secure chip in the wallet. The feature allows users to download and install third-party security products that add an extra layer of safety atop the product’s cryptographic material.
Ledger Nano S Pros
- Can be integrated with software wallets
- Easy to set up and install
- Comes with third-party app compatibility
Ledger Nano S Cons
- The wallet recovery process is complicated.
Ledger Nano X
Ledger Nano X is considered by many to be the most cutting-edge flagship product from Ledger. It features some impressive storage and asset transfer solutions. The wallet is compatible with both Ether and ERC-20 tokens.
As opposed to the Nano S that operates only when plugged in, the Nano X comes with a battery unit. So, you can send Ether on the go. Ledger also added the Bluetooth Low Energy (BLE) connectivity feature here so that the product can connect to your phone or computer without the need for an aux cable.
The wallet comes with out-of-the-box functionality with the Ledger Live app – the company’s all-in-one interface that helps to manage your Ether. The Live app also features live balance reporting and more straightforward transactions.
Ledger Nano X Pros
- Bluetooth connectivity
- Sleek design
- Enhanced interface navigation
Ledger Nano X Cons
- It’s more expensive than the Nano S
- No touchscreen
If there’s ever a yang to Ledger’s ying, it’s SatoshiLabs’ Trezor. Both firms have battled it out in the wallet manufacturing space for years.
While the Nano X is considered to be Ledger’s magnum opus, Trezor has the Trezor One. While this wallet isn’t as small and inconspicuous as the Ledger Nano S, the Trezor One is still pretty impressive. The Trezor One supports Ethereum and other ERC-20 tokens.
Trezor builds an isolated environment where it completes transactions offline, thus minimizing the risk of someone getting a hold of your private key. For wallet recovery, it has a 24-word recovery phrase for device recovery in cases of theft or faulty devices.
Trezor One Pros
- Easy to use
- Can be used on all platforms
- Top-level security
Trezor One Cons
- The screen is small
KeepKey is an Ethereum hardware wallet that is quite expensive. Like most hardware wallets, KeepKey is a Hierarchical Deterministic (HD) wallet that generates new addresses for every new transaction.
KeepKey stores your keys in an offline, secure environment, and it offers a lot of the same security features as its more famous hardware counterparts. It’s compatible with Android, macOS, Windows, and Linux.
This wallet combines many security features to keep your Ether safe. This device can generate an infinite number of private keys using entropy from the computer and store them. Besides this, the wallet is protected with a PIN to prevent unauthorized use. Also, there’s a physical button that needs to be long-pressed before transactions can be confirmed. You also get a 12-word Recovery Phrase and an extra Passphrase.
- Strong security
- Cold storage
- Reliable hardware wallet
- Not portable
- Quite expensive
- No transaction fees estimates
Best Ethereum Desktop Wallet
MetaMask is an open-source Ethereum online wallet that works with Brave, Chrome, and Firefox browsers. The wallet provides an interactive user interface, as well as a secure identity vault, which allows users to manage their identities across various platforms.
MetaMask has an in-built Ether purchasing feature that links the wallet to popular cryptocurrency exchanges like Coinbase to buy Ether and other ERC20 tokens. Developers can also interact with several test networks on the Ethereum blockchain. Users also don’t need to download the full Ethereum node to operate MetaMask.
- User-friendly setup
- It’s an excellent tool for developers too
- Helps to manage multiple wallets
- Can get slow at specific points
- Could be confusing for newbies
Mist was built by Ethereum’s developers, as a full node wallet. Being a wallet designed by developers who manage the Ethereum Network, it enjoys regular updates. It’s quite easy to use to store Ether and write smart contracts, but it’s not suitable for beginners.
It’s currently available on desktop, and it supports the following operating systems Linux, Windows, Mac OS. Users will also love the integration with crypto exchange ShapeShift, which they can use to trade and exchange tokens.
- ShapeShift integration is a handy feature
- Built by Ethereum’s official developers
- Full control of your private key
- Not ideal for beginners
- Only available for desktop
The Exodus wallet is a desktop wallet that seamlessly combines an intuitive, user-friendly interface with some impressive advanced features. If you want the perfect Ethereum wallet that’s built for beginners, Exodus is our top pick. Exodus is available on both desktop and mobile, and you can even pair both devices together. The wallet has partnerships with several exchanges so that you can purchase Ether from several sources.
You can use the wallet to purchase Ether. Exodus charges a two to five percent spread on all transactions carried out on the wallet. This is how the wallet operators generate revenue.
- Built-in exchange
- Strong backup features
- Intuitive design
- High exchange fees
- No two-factor authentication
MyEtherWallet (MEW) is perhaps the most popular wallet provider for Ethereum. This web-based wallet provides access to Ethereum, Ethereum Classic, and other Ethereum (ERC-20) tokens. It’s one of the most popular Ethereum wallets available, thanks in no small part to its ease of use and expansive security features.
My Ether Wallet Pros
- Open-source software
- Simple and intuitive interface
- Can be integrated with hardware wallets
- The web version is difficult to set up
- Past incidences of phishing attacks
Best Ethereum Mobile Wallet
The Edge wallet is a mobile wallet that uses client-side encryption to secure your private data on your device. It comes with the integration of several exchanges like ShapeShift, Changelly, and ChangeNow. It offers in-app trading and exchange of Ether.
Edge’s security model includes a username and password that is encrypted and stored on the client’s device. This model is useful for convenience and usability, but it provides opportunities for hackers who can guess these login credentials. Thankfully, users can enable two-factor authentication as an extra layer of security.
Storing your Ether on Edge has a number of benefits. You can easily buy cryptocurrencies using your credit card on this wallet. Use your Ether to purchase other digital assets and use Ether to purchase popular gift cards like Amazon and iTunes via Bitrefill.
Edge Wallet Pros
- Open-source code
- Comes with a built-in exchange
- Credit card purchases available
Edge Wallet Cons
- Limited cryptocurrencies supported
- Not as secure as a hardware wallet
Jaxx was created in 2016 by the Canadian blockchain company Decentral. This Ethereum wallet comes with an intuitive design and impressive security features. This wallet is available on web browsers like Chrome and desktop and mobile devices. The wallet charges users fees on every transaction carried out on ShapeShift.
An impressive feature with Jaxx is cross-platform pairing, which allows you to link all your wallets together – for people who are using their wallets on mobile and desktop at the same time. The Jaxx wallet operates as a Hierarchical Deterministic (HD) wallet, which means it generates a new address for each receive transaction, thus making it difficult for a transaction to be traced.
- Available on all major platforms
- Easy backup process
- Intuitive design
- Poor security features
- Confusing transaction fees
The Atomic Wallet is a desktop and mobile Ethereum wallet that provides smooth and seamless storage solutions for Ether and ERC-20 tokens. This wallet allows users to buy, store, and stake cryptocurrencies from one interface.
The wallet allows users to acquire cryptocurrencies using a credit card, in-wallet peer-to-peer trades, and atomic swaps, which allows for the exchange of one cryptocurrency for another without using go-betweens like exchanges.
The Atomic wallet is simple and easy to use, and it comes with a dedicated interface for ERC-20 tokens too. The wallet encrypts your private keys on your device, and it’s available on mobile and desktop platforms. It also comes with an Ethereum wallet iOS version and an Ethereum wallet Android version.
Atomic Wallet Pros
- Sleek user interface
- Credit card functionality
- Comes with a built-in exchange
Atomic Wallet Cons
- No hardware wallet integration
Argent is an Ethereum-only smart contract wallet. The wallet provides free transactions, simple addresses, and swift recovery with no paper backup. Argent is one of the new generations of wallet called smart contract wallets or “Smart Wallets.” Argent has some notable and innovative features, chief of which is the “Recovery Tools.”
The wallet introduced “Guardians,” where you can assign trusted friends or devices to recover your funds without the need for the usual seed phrase or private keys. In the event of device theft, you can request these Guardians to approve the recovery; once there’s consensus, you’ll get your funds.
This smart contract wallet also uses the Ethereum Name Service (ENS) to create human-readable public addresses. Despite all these, Argent still integrates with popular decentralized finance (DeFi) applications such as Kyber Network, MakerDAO, and Compound Finance.
Argent Wallet Pros
- DeFi integration
- Simple recovery process
- Ether-only wallet
Argent Wallet Cons
- Limited onboarding for now.
Guarda is an Ethereum wallet available for desktop and mobile devices. The wallet is non-custodial, so you get full control over the funds and responsibility for their protection.
The wallet is open-sourced, which means members of the public can view the code to check for any malicious code that could be used to steal from the investor. It’s also available as a web wallet and as a browser extension.
The app comes with exchange features too so that you can buy more Ether with a debit card. With most hybrid wallets, there’s often an absence of a responsive support system. With Guarda, you get a ticket system for filing complaints and a detailed FAQ system on their website.
Guarda Wallet Pros
- Open-sourced wallet
- Chrome extension
- Debit card purchases
Guarda Wallet Cons
- High exchange fees
Coinomi is another popular wallet manufacturer that has seen significant adoption over the past few years. This Ethereum wallet supports other digital assets like Bitcoin and Litecoin. It’s available as a mobile app and on desktop platforms.
Coinomi is non-custodial, so your keys are encrypted on your device. You’re responsible for your funds’ safety. Quick to set up and very easy to use, even for beginners. The wallet comes with an exchange feature, where users can trade their Ether for other currencies without leaving the device or registering on an exchange.
Coinomi’s wallet doesn’t track or store the user’s personal information. It also hides your IP address to prevent anyone from checking your transaction patterns remotely. There’s also a password for security, and you can recover your wallet if you lose your device.
Coinomi Wallet Pros
- Multi-currency support
- Support for different languages
- Built-in exchange
Coinomi Wallet Cons
- Not open-source
- Doesn’t support fiat-crypto purchases
The Trust Wallet is a mobile wallet that allows you to send, store, and receive assets on the Ethereum blockchain. Users can also write smart contracts with this wallet. It’s an open-source wallet built with a focus on simplicity, and it’s quite easy to use.
With the Trust Wallet, you store your private keys on your device. The wallet also comes with an adequate backup facility. If you like purchasing funds on a decentralized exchange (DEX), you’ll probably enjoy this wallet, thanks to its partnership with the Kyber Network. Still, Android users will be able to enjoy integration with Coinbase, Changelly, and Shapeshift for Ether purchases.
Trust Wallet Pros
- Built-in exchange
- Web3 browser for dApp integration
- Built on the Ethereum blockchain
- Available on both Android and iOS
Trust Wallet Cons
- Limited exchange capabilities with other assets
Ethereum Paper Wallet
A paper wallet is the safest way to store your cryptocurrencies long-term, as it’s not connected to the internet in any way, shape, or form.
Paper wallets are quite literally a piece of paper with a QR code on them. Ethereum holders can scan that QR code to access their assets whenever they’d like, but because this process is a bit of a pain, it’s only recommended you do this if you want to hold for a long time.
Many crypto traders laminate and bury their paper wallet, planning to wait decades before pulling it out to use the stored private keys. Just make sure this wallet is never torn or damaged, as that could lose you access to the Ethereum forever.
Finding the best Ether wallet depends on your needs. If you’re just starting and you probably won’t be dealing with Ether volumes, you could look into online or mobile wallets. This way, you can easily access your funds to send or receive them. In terms of security, mobile wallets are way more secure than online wallets.
Hardware cryptocurrency wallets are also a solid option for anyone, although you will need to keep the wallet itself safe and maintain it.
There’s a myriad of additional features that these wallets provide, so be sure to consider them and how much convenience is involved concerning exchanging, trading, and accessing your keys.