Best Ethereum Wallet – How To Select The Best Ethereum Wallet?

In Ethereum
Best Ethereum Wallet

Best Ethereum Wallet

Ethereum as decentralized blockchain platform was launched three years back to equip developers with a secure, and monetized platform which could change the world of trading and help operating applications without the involvement of any third party. So today we are going to discuss in detail what are the Best Ethereum Wallet to be used for now.

Best Ethereum Wallet
How to get the Best Ethereum Wallet?

The market of Ethereum is growing on rapid basis because it is getting difficult for developers to trust the services of technological giants due to the increase in the number of vulnerabilities and unwelcomed malfunctioning.

Ethereum is not getting the attention of developers only, even potential investors are also exploring the opportunities to invest in the market which has the second cap after Bitcoin.

If you desire to invest in Ethereum then do read our article on Ethereum Price Prediction – What is Ethereum? its Working & Future

What is Ethereum Wallet?

Best Ethereum Wallet
What is Ethereum Wallet?

Ethereum wallet is the first step towards the growing market of the blockchain base and cryptocurrency. Ethereum wallet integrated with ShapeShift enables the developers to store their created ethers at the safest location in order to decrease the chances of any frauds which could mislead the potential investors and even the developers.

Best Ethereum Wallet

Ethereum wallets have witnessed the great revolution due to the continuous advancements in technology. Now the entire market is full of the best Ethereum wallet but it depends on your hardware and storage need that which kind of wallet you go for.

Best Ethereum Wallet
Best Ethereum Wallet

Characteristics of the Best Ethereum Wallet

All Ethereum wallets are created for security purposes so it is clear that every wallet should be highly secured. Rest the below-mentioned traits can help in determining the Best Ethereum Wallet.

  • Advanced Compatibility Options

A good Ethereum wallet is expected to be compatible with a number of operating systems. The better compatibility also helps in the cross-functioning process and reduces the risk of downtime during command execution.

  • Private Keys

The more control you have over the private keys, the better you can function in the market. The best Ethereum wallet is the one which empowers you to properly control your private keys because they are the base for almost everything.

If you have full control then it would be easy to encrypt the files and unlock the coins for further processing.

Best Ethereum Wallet
Private Keys
  • Sound Storage Facility with Backup Features:

All the features in the Ethereum wallet are interconnected with each other. For instance, if you have full control over the private keys then, you can easily copy the key from one location to other.

The good wallet also consists of the restore functions and aims to reduce the tension of ether lost or other security concerns.

Review of Best Ethereum Wallets

Best Ethereum Wallet
Review of Best Ethereum Wallet

Currently, only few hardware and software-based wallets are available in the market but it is expected that soon this market will witness the boost.

  1. Hardware Wallet Ledger Nano S

Ledger Nano S is the best option for those developers who are looking for an inexpensive offline ether storage device which could work perfectly with different computers.

Though this hardware wallet cannot be called as the highly efficient one but its key functions can be compared with KeepKay and other hardware wallets with the screen.

The enhanced security ‘S’ features of Ledger Nano S makes sure that no hacker ever deploy with your stored identity and confirm the payment transactions. This device also comes with the facility of PIN code which allows the owner to recover the lost data even without physically operating the device.

The working of this device is not limited to the storage of ether only, plus developers can also store altcoin and bitcoin currency in the device. Nano S ledger only lacks one feature that is passphrase support.

Passphrase support helps in the accessing and the controlling of almost all of the cryptocurrencies. This feature can also b substituted for the password usage and written by using the combination of 45 bits.

Apart from all the function, the basic reason behind the integration of passphrase is to increase the overall security of the stored items and reduce the chances of any sort of vulnerabilities.

Bottom Line:

The functioning of Ledger Nano S is preferred by masses due to its affordability rather than its functioning. It does have some extended features but the company is still exploring forums like passphrase to enhance the working of this cryptocurrency wallet.

Best Ethereum Wallet
Hardware Wallet Ledger Nano S
  1. Coinbase Ethereum Wallet

Coinbase Ethereum wallet is also the all-rounder because it can store and deploy the currencies for both Ethereum and Bitcoin. The working of Coinbase wallet is classified as the software one and its application can easily be downloaded from the authentic platforms

This wallet is considered as the efficient one but it still has some serious drawbacks which are capable of impacting its productivity.

  • Less Private Key Control

In Coinbase the private keys of the Ethereum wallet are controlled by the managing company. This means that company has full control to wipe your data and shut your working without your consent.

The company has the full-control to track your spending so that they could identify any sort of misleading activity happening in the market.

If the company ever found that you are working on illegal principles and even mistakenly performed any illegal activity then, get ready to lose your stored currency right away.

The private keys of the wallet are basically controlled through the multi-signature vaults which mean that company would never be able to empower holders to control the data themselves. 

  • Less support for Major Components

Coinbase also lacks the support for some major functioning components of Ethereum wallet such as Ethereum Classic.

Though backward compatibility is not possible with ETC and it also lacks some major functions but if it is available in the wallet then, it becomes relatively easier for developers to select the right platform for themselves.

Why is Coinbase better?

  • Comes with Easy to use and Setup Facility

Coinbase is famous amongst the developers because of its setup and buying facilities. This Ethereum wallet supports the rapid buying procedure where you can buy the digital currency coins easy and can use your credit card as the backup.

  • Highly Liquid

The Coinbase are highly liquid because they allow the easy transfer of digital money from wallet to the local bank account.

  • Safe Place to Store Digital Currency

It is believed that less control makes the wallet less safe but this statement isn’t true in the case of Coinbase. The recent states make it very clear that Coinbase is the best Ethereum wallet because it offers maximum security to the coins and reduces the chances of any sort of vulnerabilities.

Bottom Line:

The wallet supports both the hard and soft forks and is capable of bearing the shocks without any difficulty. You can easily exchange the currency with brokers and save everything in the online wallet.

Best Ethereum Wallet
Why is Coinbase better?
  1. Exodus as Desktop Wallet

Exodus can easily be called as the smartest Ethereum wallet because of its multi-functioning feature which is capable of providing developers with the overall cryptocurrency overview in the most incredible manner.

Some of the key features of Exodus desktop wallets are as follows:

  • Smart User Interference

Exodus comes with the Smart UI technology which enables the developers to efficiently interact with their wallet and store the coins by using easy patterns. This smart support also helps in the easy identification of various in-server services which further leads to easy management of the wallet.

  • Support Seven Cryptocurrencies

Exodus wallet not also works for the Ethereum but it can support around seven major cryptocurrencies and is capable of storing them without any anticipated crashes. This wallet allows you to check all the information about stored currency and their level in the matter of few minutes.

  • Integrated ShapeShift Technology with Independent Facility

Exodus is the first-ever desktop wallet which has the integrated ShapeShift technology. Shapeshift basically helps in the easy buying of other cryptocurrencies while staying on the similar platform.

Before the advent of ShapeShift, developers used to face the challenging situation where they have to take additional measures to exchange the built-in currency. But now this problem is solved by the Exodus.

This wallet is preferred by developers because of the full control over the private keys. As a developer, you can easily track your productivity, take necessary measures for increasing your worth and can have full access to almost every feature.

  • Best Portfolio Displayer

The smart UI of Exodus helps in a flawless display of portfolio as the welcomes scree. If you have Exodus on your desktop then, whenever you will open it, you can easily check the level of currencies you have in the storage and where they are exactly stored.

Additionally, this Ethereum wallet helps in easy restoring facility thus reducing the chances of theft.

Best Ethereum Wallet
Exodus as Desktop Wallet

What’s not good?

  • Requires internet Connectivity

Exodus wallet has one drawback that for processing and using the coins you need internet connectivity which means this software doesn’t provide the facility of offline-serve. But one thing is sure that your private keys will remain stored even if you don’t have the connectivity.

  • No support for Smart Contracts

The lack of support for smart contracts makes this wallet a little less worthy because now the integration of smart contracts has become the crucial part of the trading transaction.

Bottom Line

Though the company is still working on the application system of this wallet still it is preferred by many developers because of its controlling authorities and a wide range of currency options.

  1. Trezor Hardware Wallet

Best Ethereum Wallet
Trezor Hardware Wallet

The incredible portability of the Trezor makes the hardware device as the efficient Ethereum wallet.

Trezor was launched as the first-ever hardware wallet for Bitcoin, however, now the
company has extended its working and it can store the Ethereum properly.

This hardware wallet is included in the list of best Ethereum wallets because it provides
the facility of password management which leads to the 2-factor authentication steps.

Why it’s the Best?

  • Better Restore Facility

This system provides you with the facility of restoring the data with the help of few privacy questions. The restore system enables you to get access to all the lost information without any difficulty.

  • Provide Quick Setup

For setting up the account on Trezor you just need to feed the accurate information in
the given ledger, link the account with your back and you will be able to carry out the
task. It is better to make your security stronger by using the password log.

Bottom Line:

This hardware does have certain drawbacks but it is important to consider that if you
are looking for an efficient multi-purpose wallet with portable facility then, this device
can surely satisfy your demands.

  1. MetaMask Wallet

Best Ethereum Wallet
MetaMask Wallet

Meta Mask wallet is indeed the best Ethereum wallet because it not only works as the
digital currency holder, however, it works as the bridge between the Ethereum and the
decentralized network.

Some of the productive features of the MetaMask wallet are as follows:

  • Gives you full Control

MetaMask is preferred because it gives you the full control where you can easily visit
the distributed networks while keeping your keys activated. This wallet aims to make
the Ethereum transaction as simplest as possible and its user-friendly interface
supports the same statement.

  • Easy Switching Between Networks

As MetaMask labels itself as the bridge between two networks, therefore, the script
enables the changing of the web page without creating any change in the current tasks.

You can also easily jump from the test network to the actual Ethereum platform and
start the transaction after providing the necessary confirmations.

  • Facilitate in the Handling of Different Applications.

Apart from the facility of switching between networks, this Ethereum wallet enables the
developers to operate different applications while using the same platform.  This feature
is the huge plus point for those developers who aim to operate different apps at the same time.

What’s not favorable?

In our opinion, the Meta Mask is the all-rounder Ethereum wallet with some advanced
features which can make your life easier but during the downloading process, you will
notice that browser always asks for certain permissions which enable the parent
company to alter the information in the long run.

Bottom Line:

MetaMask is the perfect Ethereum wallet for the experienced developers because it
would be easy for them to handle the technical factors involved in the system.

Ending Note:

All the mentioned Ethereum wallets consist of different factors which can help in making the storing and transactional process easier. It depends on your personal preferences that which wallet you select for further processing.

So which Ethereum wallet appeals you the most?

You May Also Like:

What is Cryptocurrency? [A Complete Detailed Cryptocurrency Guide]

Cryptocurrency: Is it a good time to invest in Bitcoin?

What Is Bitcoin Gambling – A Complete Guide on Bitcoin Gambling

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