Top Ethereum wallets 2018 – Open your ETH wallet now

ethereum wallets to invest with nowEthereum is considered the second biggest cryptocurrency in the market behind the clear leading coin, Bitcoin. Ethereum operates on an altogether different blockchain to Bitcoin and has its own unique smart contract protocols, though. Furthermore, it is open-source, which has appealed hugely to application developers looking to design and build decentralised products called dApps on the Ethereum network.

As the cryptocurrency with the second highest market capitalisation too, the price of Ethereum is at a point where investors are beginning to take notice and add it to their long-term investment portfolios. That’s why we’ve taken the time to review your best Ethereum wallet options with this in-depth guide.

You don’t have to use a cryptocurrency wallet to profit from Ethereum though. Instead of buying ETH via an exchange, you can also place ‘buy’ and ‘sell’ contracts for difference (CFD) orders with crypto brokers. With CFD orders you don’t physically own Ethereum, which allows you to focus on trading the price action and not have to deal with the hassle of securing your Ethereum wallet.

The Best Ethereum wallets

We know that many people are searching for the best Ethereum wallet online, which is why we’ve reviewed five of the leading options to store your Ethereum securely.

1. Ledger Nano S

Ledger Nano S

The Ledger Nano S is the most popular Ethereum hardware wallet option for storing Ethereum offline in cold storage. It is designed to hook up to your desktop or laptop computer via USB, and you could also describe it as an Ethereum USB wallet. With two-factor authentication (2FA) and a secure PIN code that keeps the hardware wallet locked at all times, you can keep your Ethereum administration offline and away from the prying eyes of cyber-criminals with a Ledger Nano S. For more information, read our Ledger Nano S review (link to review – if we can’t, please remove sentence).

Pros

√ Industry-leading security
√ Store funds in cold storage
√ Variety of Ethereum-based coins supported
√ Integrates with Ethereum wallet software
√ Reliable OLED display

Cons

X An expensive crypto wallet solution

2. MyEtherWallet

MyEtherWallet

MyEtherWallet is what the crypto crowd would term an online Ethereum wallet. It’s different to almost every other ETH wallet option out there as it does not control your private keys. Instead, MyEtherWallet empowers account holders to store their Ethereum keys on their own devices as opposed to third-party systems. As an open-source Ethereum wallet, it can offer heightened levels of security that makes it such a popular choice among the community. As we’ve explained in our MyEtherWallet review, accounts can also be linked to an Ethereum hardware wallet such as the Trezor or Ledger Nano S.

Pros

√ Users keep control of their own private keys
√ Can write and execute smart contracts
√ Open-source nature appeals to many Ethereum users

Cons

X Can be hacked through phishing attacks
X Not an Ethereum wallet in the truest sense

3. TrustWallet

TrustWallet is a mobile Ethereum wallet

The TrustWallet is an Ethereum mobile wallet designed solely for iOS and Android smartphones and tablet devices. It was recently purchased by leading cryptocurrency exchange Binance, which, as we’ve discussed in our 2018 Binance review, is one of the largest platforms for buying and selling ETH and other ERC20 and ERC223 crypto tokens on the planet. Its partnership with Kyber Network ensures TrustWallet users can make instantaneous and anonymous transactions via their decentralised exchange. TrustWallet users store their private keys locally, never on a third-party server, and are protected by several layers of security. We’ve also prepared a TrustWallet review to give you more in-depth information about the ETH mobile wallet. [as above, remove sentence if we can’t link]

Pros

√ Owned by world-leading crypto exchange Binance
√ Users retain full control of their private keys
√ Designed to interact with dApps built on its decentralised exchange
√ Simple, intuitive user interface

Cons

X Incapable of storing Bitcoin and other coins outside the Ethereum network
X No two-factor authentication (2FA) offered

4. Jaxx

Jaxx Logo

The Jaxx multicurrency crypto wallet was established in 2014, developing a niche following of crypto investors, including those buying ETH coins. It is one of the leading mobile Ethereum wallets on the market, with an intuitive user interface and the ability for users to have total control over their private keys. As we’ve noted in our Jaxx review, the keys are saved on your mobile device rather than a third-party server and the app is designed to work seamlessly on Android and iOS-powered smartphones and tablets.

Pros

√ Designed to operate on Android and iOS
√ Capable of storing multiple digital currencies including Ethereum
√ Users have 100% control of private keys

Cons

X Security concerns linger concerning phishing and malware attacks
X Not an open-source Ethereum wallet

5. Exodus

Exodus logo

If you’re looking for an Ethereum wallet online, they don’t come more beautiful and shiny than Exodus. This Ethereum wallet has a straightforward yet stylish user interface that helps beginners to cryptocurrency investments get started. It’s worth noting its ShapeShift integration which also makes it easy for users to make fast, efficiency cryptocurrency exchanges and access multiple holdings at the touch of a button, which we explain in detail in the Coinlist.me review of Exodus [remove last phrase if we can’t link].

Pros

√ Capable of housing multiple Ethereum-based cryptos
√ Strikingly simple user interface
√ Impressive ShapeShift integration

Cons

X Smart contracts unsupported
X Less secure than an Ethereum hardware wallet

How to open an Ethereum wallet step by step

Ready to start buying and storing Ethereum? Start using cold storage with our recommended Ethereum wallet, the Ledger Nano S offline Ethereum wallet today:

Ethereum Wallet: Buy the Ledger Nano S hardware wallet

Purchase a Ledger Nano S – the best Ethereum wallet for cold storage of Ethereum.

Ethereum Wallet: Configure your new Ledger Nano S

Connect your new Ledger Nano S to a computer and start configuring your Ethereum wallet.

Ethereum Wallet: Choose a PIN for your Ledger Nano S

Set a PIN code for your Ledger Nano S for optimised security.

Ethereum Wallet: Make a note of your Ledger Nano S recovery phrase

Make a note of your Ledger Nano S recovery phrase in the event of emergency.

Alternatives to opening an Ethereum wallet

In our review of the five best Ethereum wallet options, you will have noticed that security issues still remain among most types of cryptocurrency wallets. Offline Ethereum wallets that store ETH in cold storage are arguably the safest option as they are not linked to the internet and any third-party servers that could be compromised by hackers.

To address this concern, we should explain that we believe that it can be more profitable and enjoyable to become an eToro member and trade Ethereum using a broker that accepts contracts for difference (CFDs) instead. Our comprehensive eToro review will answer all of your questions about the platform. Put simply, Ethereum CFDs do not require you to physically buy and store Ethereum. Instead, you place ‘buy’ orders if you think the price of Ether will rise and ‘sell’ orders if you think the price will fall.

eToro is particularly popular as it offers CFD trading on all sorts of crypto coins, not just ETH. In fact, in our expert opinion, it’s best to diversify your portfolio when looking to make a profit from a cryptocurrency investment, and eToro makes this easy. It is also regulated by the UK’s Financial Conduct Authority (FCA) and Cyprus’ CySEC. The social trading options on the platform as well as the extensive tutorials and forums make it a breeze to get started, even for newbies.

Ethereum wallet FAQs

Are there Ethereum paper wallets too?

If you have a lot of ETH stored online, it’s always best to move it offline when you can. An Ethereum paper wallet, also known as a cold wallet, can be created by yourself. It can be as simple as a piece of paper and there are various websites out there that can guide you through the setup process.

What’s the difference between an Ethereum online wallet and an Ethereum hardware wallet?

With an Ethereum online wallet, funds are stored digitally online and protected by private and public keys. Using an Ethereum hardware wallet, you take the storage of your Ether offline away from prying eyes of cyber-criminals.

What’s the difference between a Bitcoin wallet and an Ethereum wallet?

Some cryptocurrency wallets are designed to be multi-currency and can support both Bitcoin and Ethereum. Others are designed to only store BTC or ETC – or even other coins.

What does an Ethereum hardware wallet entail?

Ethereum hardware wallets are physical devices, such as the Ledger Nano S that we highly recommend. They can keep digital assets secure using offline PIN codes and recovery phrases that hackers cannot get access to without physically stealing your device.

Why do Ethereum hardware wallets tend to be more expensive?

Ethereum hardware wallets such as the Ledger Nano S are more expensive than Ethereum online wallets because they are purpose-built devices that offer industry-leading security and protection. Cold storage is highly recommended due to their significant value.

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