To store ETH safely and securely, finding a suitable storage wallet is very vital. So, Which Ethereum (ETH) wallet should be used? What’s the best Ethereum wallet? In this article, VakaFx will introduce to you the most popular ETH wallets in 2020.
What is the Ethereum wallet?
Similar to Bitcoin or other cryptocurrencies, Ethereum needs a wallet to store and trade. Each Ethereum wallet has an ETH wallet address.
An ETH wallet address looks like this: 0x00222ead2d0f83a71f645d3d9634599ec8222830
Unlike the BTC wallet address or other coins, the ETH wallet address always starts with "0x". ETH wallet has other functions that the BTC wallet does not. In addition to storing and trading, ETH wallets are also used to create and activate smart contracts.
TOP best Ethereum (ETH) storage wallets
1. Cold storage wallet: Ledger, Trezor, KeepKey
Cold wallets are always the safest type of wallet to store coins. Not only ETH, but cold wallets can store most coins such as Bitcoin, Ripple, Bitcoin Cash, Litecoin, Zcash, Dash, ERC-20 Token, ... Currently, there are 3 most popular cold wallets, Ledger Nano. S, Trezor, and KeepKey, of which, Ledger and Trezor still excel in the number of users.
ETH Cold storage has pros:
• No internet connection required for transactions, so hackers can't hack your wallet.
• ETH Wallet has security features such as setting a PIN, 2FA. Besides, it allows backup data to restore the wallet address.
• ETH wallet works well on Windows, Mac OS, and Linux operating systems.
However, the price of cold storage is quite high. Also, it's not easy to use for newbies.
2. Mobile wallet for Ethereum
The most popular mobile wallets are ImToken, Trust Wallet, Blockchain, and Coinomi. The mobile wallet is a hot wallet that requires an internet connection to work. Therefore, hot wallets are still at risk of hacker intrusion, but the rate is quite low. Currently, operating systems such as iOS and Android have extremely good security. In the past, most hacks occur on computers and web wallets.
3. Web wallet for Ethereum
Creating an Ethereum wallet on your computer is also a very good solution to store your ETH. A web wallet is a hot wallet, not as secure as cold storage. Therefore, you need to choose reputable suppliers. Currently, there are 2 of the best web wallets you should use: Jaxx and Exodus. These are the two most popular and reputable cryptocurrency wallet providers in the world.
Both Jaxx and Exodus wallets support many coins and tokens, not just Ethereum. It also allows you to backup your wallet, control your private keys. It provides good security features and is easy to use for newbies. Jaxx and Exodus are currently available for Windows, Mac OS, Linux.
4. Metamask wallet
Metamask is one of the most commonly used wallets. This is a wallet installed through web browser extensions such as Google Chrome, Mozilla Firefox, Opera, and Brave, etc. Metamask wallets are known to be very secure ETH wallets with huge numbers of users. This wallet allows users to store, send, receive ETH, and ERC20 tokens. Also, Metamask supports wallet backup, wallet import/export via private keys or recovery phrases.
5. Coinbase wallet, Blockchain wallet, MyEtherWallet
Online wallets are the most popular type of wallet used by many to store ETH and other coins, although it is not the safest wallet. Most wallets are free and easy to use.
Myetherwallet wallet is a hot wallet with low security. MyEtherWallet (MEW) has been hacked many times in the past.
Coinbase and Blockchain wallets are the two most famous wallets today, supporting the storage of many coins. Both Coinbase and Blockchain have quite a lot of good security features such as 2FA, phone number verification. Especially, Coinbase also uses offline wallets to store customers' assets very securely. However, Coinbase does not allow users to back up and they also control the user's private key.
Hopefully, with this article, you will choose the most suitable and secure ETH wallet. If you have any questions, feel free to leave a comment. We will respond as soon as possible.
Follow our official channels for up-to-date information about Blockchain and cryptocurrency.
- Website: https://vakafx.com
- Email: [email protected]
- Telegram: @vakaxasupport