Compare the best Ethereum wallets in 2022
What are the best Ethereum wallets?
Top Ethereum wallets
Best Ethereum wallet overall – Guarda wallet
Guarda wallet offers the best all round service for holding your Ethereum, earning interest on it, and swapping it for other coins. Its integrated features offer advanced security and staking to cater for every different type of user.
The wallet’s flexibility means that you can manage the coins from your phone through the Guarda app or a Google Chrome extension. Its integration with Ledger allows it to offer a more secure version of the wallet as well.
- Integrated exchange platform
- Supports multiple coins
- Integrates with hardware wallets like the Ledger Nano S
- Offers and Earn feature that pays interest on coins you hold
- Comes with a mobile app and Chrome extension for ease of use
Best Ethereum hardware wallet – Ledger Nano S
The Ledger range of hardware wallets offer great security at an accessible price point. The Nano S is the cheapest option in the range and also offers Ethereum staking alongside its storage facility.
The Nano S is a small, USB-like device that keeps your coins in cold storage (offline). It has no battery of its own, so as soon as you disconnect it from your computer the coins are completely offline. As it’s a hardware device that doesn’t need to connect to the internet, you can also use it anonymously for extra security.
- Compatible with a range of software wallets
- Convenient LED display
- Comes with a mobile app
- Plenty of account recovery options
Most secure Ethereum wallet – Trezor
Trezor is a top of the range hardware wallet that offers maximum security. Alongside its key-like USB device, you can buy additional devices to back up your details and store your unique address and passcode separately. Trezor can store more than 1,000 different coins in total, so it’s a great choice if you own other crypto alongside Ethereum.
The Trezor Model T is one of the most secure options on the market, although it is more expensive than most other wallets. Alongside the extra security, it makes it easier to manage your money through a full colour touchscreen on the device itself.
- Manage your coins through an interactive screen or online app
- Can purchase backup devices for maximum security
- Store more than 1,000 coins, including ETH
- The Cryptosteel device offers a secure place to store your passcode
Best ETH wallet for spending – Wirex
Wirex offers the best way to spend your ETH on everyday items. Through the Wirex wallet you can access excellent rates of interest on your crypto holdings and link it to your Wirex card and spend it like a regular bank card.
The Wirex wallet unlocks rates of interest of 25%+ on selected cryptocurrencies. It’s the best place to store your crypto if you want to use it or grow it rather than just keep it secure.
- Offers a debit card for spending ETH
- Acts like a bank account where you can earn interest
- No-fee exchange features
- Spend crypto in regular stops
Best Ethereum mobile wallet – Coinbase
Coinbase is the easiest wallet to get started with and manage from your phone. The wallet connects to the main Coinbase exchange so you can easily swap money between different cryptocurrencies. It’s a great option if you want to keep your wallet and trading account in the same place.
One of the best things about the Coinbase wallet is that it’s so simple for beginners to get started. But it also offers more advanced users the option to import their existing wallet account from MetaMask or other platforms.
- Integrates with the Coinbase exchange
- Extremely easy to use for beginners
- Download the app to your phone to store and manage your coins
- Can choose between beginner option or more advanced wallet
What is an Ethereum wallet?
It’s like a bank account for storing Ethereum. An ETH wallet is your means of interacting with the Ethereum blockchain, to send or receive money, or simply to hold it. This is a similar idea to bank accounts that let you transfer money to other people through traditional financial institutions.
How do Ethereum wallets work?
Each wallet has a unique address on the Ethereum blockchain. You access it by providing the address and your passcode. Wallets ‘talk’ to each other on the blockchain using these addresses.
To receive money, you just need to provide the address to whoever is sending it. To send money, you have to enter your passcode (also known as a private key). The two strings of numbers help keep your account relatively anonymous and secure, so it’s important to keep the private key safe.
How should I choose an Ethereum wallet?
The most important factor should be security, as that’s the main reason for using a wallet rather than leaving your ETH in an exchange account. Alongside that, consider these features to help you make the best decision.
- Price. Most online wallets are free but you have to pay for any that include a physical device. Normally it’s just a one-off cost, but some more advanced hardware wallets can be quite expensive. Our rankings value security highly so we have included wallets with hardware devices.
- Accessibility. You can access most wallets through a laptop or mobile device, but some hardware wallets can be more awkward. All of the options in our list are easy enough to use but online wallets are the most convenient, especially for beginners.
- Whether it offers staking. Staking is when you earn money on the coins you hold. Some wallets offer this feature on ETH, you may want to look at the best staking platforms if you want to maximise earnings on the crypto you own.
- Account recovery options. Online wallets like Coinbase make it relatively simple to access your account if you forget your password. Wallets that prioritise security, however, can be more difficult. Normally you need to provide a 12-word key to recover your account. Again, you need to decide between security and convenience.
- Mobile app. If you plan on managing your money on the go then an app is vital. Normally both Android and iOS apps are available, but this is worth checking before you sign up.
- Hardware device. Wallets like Ledger and Trezor come with physical devices that store your unique wallet address and details. If security is one of your main concerns then prioritise a wallet that comes with a hardware device.
- Backup available. The best way to combine security with recovery options is to buy additional offline devices to back up your details. Trezor in particular offers this feature, although it can add a lot to the price of your wallet.
Should I use an Ethereum wallet?
It’s a good idea to use a wallet to store Ethereum. Wallets are more secure than exchange platforms because you control the account details, rather than leaving them in the hands of a third party. Without a wallet, you could lose access to your coins for reasons outside of your control.
A hardware wallet is the best option to maximise security. An online wallet is normally more convenient, easier to use, and a good option if you plan on using your money more often. There are some wallets, like CoolWallet, which offer a hybrid option. See our top choices across all crypto wallets here.
Pros and cons of an Ethereum wallet
To help you decide whether to use a wallet, we’ve summarised the main pros and cons of getting one.
- Much more secure than leaving money on an exchange
- Gives you control over your money
- Some platforms let you spend or stake ETH from the wallet
- Most wallets are free or only come with a one-off fee
What are the fees for Ethereum wallets?
Online wallets are normally free and you only have to pay for a wallet that includes a physical device. There might be fees for using other features, such as an exchange or staking. None of the top wallets charge ongoing subscription fees.
Yes, particularly if you use a hardware wallet. Self-custodial wallets, where you control the keys, are more secure than a bank account.
You don’t need a dedicated wallet but you do need to have a blockchain address. Most exchange accounts provide one, but it is less secure because you don’t have full control of it.
No, Electrum is a Bitcoin wallet and only holds BTC. You cannot hold Ethereum in an Electrum wallet.
Guarda wallet is the best choice, based on the fact you can adapt it to suit your needs. It includes an integrated exchange platform and can link to hardware wallets like the Ledger Nano S to offer more security.
Yes, the Coinbase wallet can be used to hold Ethereum. It supports all ERC-20 coins along with a vast range of other cryptocurrencies.
MetaMask is a simple wallet but it lacks many of the features available on other platforms. It is not as secure as a hardware wallet or as flexible as the many online alternatives.
More of the best crypto rankings
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