5 Best Ethereum Wallets for Safe trading and Storage

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5 Best Ethereum Wallets for Safe trading and Storage

Ethereum token owners require a secured and flexible storage wallet for the safety of their tokens.

With the price of the Ethereum racing swiftly behind Bitcoin, the former has been a viable alternative to Bitcoin since 2009.

Even if you’re not an Ethereum whale, a token worth “four figures” is deserving of premium security.

There are 5 key factors to consider in choosing a crypto wallets ideal for banking Ethereum tokens and other digital assets. The factors are:

— Security;

— Digital asset support;

— Platform support;

— Cost; and

— Nice additional features.

Using the factors, the following are the wallets occupying the first five positions:

5 Best Ethereum Wallets

1. Trezor Model T (Hardware wallet)

Introduction

Trezor Model T is a product from SatoshiLabs.

Trezor Model T - 5 Best Ethereum Wallets for Safe trading and Storage

The company is located in the Czech Republic.

SatoshiLabs was founded by Marek Palatinus, Pavol Rusnák, and Alena Vránová. The founders are all early users of Bitcoin.

The rise in Bitcoin theft got the founders interested in creating technologies that can be used to securely store digital assets. The interest led to action after the 2012 Linode hack, a hack that resulted in the loss of a huge amount of Bitcoin.

Security

Trezor Model T is one of the most secure wallets.

Trezor Model T has been audited by credible security experts around the world.

Ever since its release, we’ve not heard any notable incident of the hardware wallet being hacked.

Digital asset support

Trezor Model T has excellent support for Ethereum.

The wallet also supports more major digital assets, including:

— Binance Coin (BNB);

— Bitcoin (BTC);

— Bitcoin Cash (BCH);

— Bitcoin Gold (BTG);

— Bitcoin Private (BTCP);

— Dash (DASH);

— Decred (DCR);

— DigiByte (DGB);

— Dogecoin (DOGE);

— ERC20 tokens;

— Expanse (EXP);

— Fujicoin (FJC);

— Groestlcoin (GRS);

— Horizen (ZEN);

— Lisk (LSK);

— Litecoin (LTC);

— Monacoin (MONA);

— Namecoin (NMC);

— NEM (XEM);

— NEO (NEO);

— Ontology (ONT);

— Stellar (XLM);

— Tether (USDT);

— Tron (TRX);

— UBIQ (UBQ);

— Vertcoin (VTC);

— Viacoin (VIA);

— Wanchain (WAN);

— Zcash (ZEC); and

— Zcoin (XZC).

The wallet supports over 1,500 more minor assets.

Platform Support

Trezor Model T supports almost all major operating systems. It supports Chrome OS, Windows, Linux, Android, and macOS.

Cost

Trezor Model T sells for €149/$182 on the official Trezor website. The price is significant, but its features stack up and offer a great deal in functionalities and more coin support.

If you’re looking for a Trezor hardware wallet for less than $100, the Trezor One offers similar functionalities but with less coin support at €48.76/$59.47.

Nice Additional Features

Trezor Model T has some additional features you’ll rarely see in other wallets, the most important of these additional features is Shamir Backup.

Ordinarily, when you lose the password to your wallet, you’ll have a recovery code you can use to gain access back to the account.

One problem however with recovery code is that you can also lose them, just like passwords.

Shamir —

—1: offers a way to ensure better protection of your recovery code.

—2: offers better anti-hack measures on your wallet. 

Note that these hardware are not suitable for mining purposes.

SEE ALSO: Top 11 Best Cardano (ADA) Wallets for Staking & Storage

SEE ALSO: Best Hot and Cold Bitcoin Wallets

2. Ledger Nano X (Hardware Wallet)

Introduction

Ledger Nano X is a product from Ledger SAS.

Ledger Nano X - 5 Best Ethereum Wallets for Safe trading and Storage

Ledger SAS is located in Paris, France. It has branches in the US, UK, and Singapore.

Ledger SAS was founded by a team of eight people. They are experts in cryptocurrencies, embedded security, and entrepreneurship.

Security

Ledger Nano X is one of the most popular and secure hardware wallets out there.

Ledger Nano X has been audited by many credible security experts. The public audits it has undergone are not as extensive as those of products like Trezor Model T.

Ever since its release, there has never been a known credible security issue with the wallet.

Digital asset support

Ledger Nano X excellently supports Ethereum.

The wallet supports more major digital assets, including:

— Binance Coin (BNB);

— Bitcoin (BTC);

— Bitcoin Cash (BCH);

— Bitcoin Gold (BTG);

— Bitcoin Private (BTCP);

— Dash (DASH);

— Decred (DCR);

— DigiByte (DGB);

— Dogecoin (DOGE);

— ERC20 tokens;

— Expanse (EXP);

— Fujicoin (FJC);

— Groestlcoin (GRS);

— Horizen (ZEN);

— Lisk (LSK);

— Litecoin (LTC);

— Monacoin (MONA);

— Namecoin (NMC);

— NEM (XEM);

— NEO (NEO);

— Ontology (ONT);

— Stellar (XLM);

— Tether (USDT);

— Tron (TRX);

— UBIQ (UBQ);

— Vertcoin (VTC);

— Viacoin (VIA);

— Wanchain (WAN);

— Zcash (ZEC); and

— Zcoin (XZC).

The wallet supports over 1,400 more minor assets.

Platform Support

Ledger Nano X supports all major platforms. It supports Chrome OS, Windows, Linux, macOS, Android, and iOS.

Cost

Ledger Nano X sells for €97/$119 on the official Ledger website.

If you’re looking for a Ledger hardware wallet for less than $100, the Ledger Nano S sells for $48/$59 with very good functionalities as well. You can see them summarized here.

Nice Additional Features

Ledger Nano X has some additional features you’ll rarely see in other wallets, the most important of them is the quality of the customer support the product comes with.

Typically, wallet producers develop wallets and put them out there.

In the case of Ledger SAS, the company produced the product and further invests a lot of effort into ensuring that you have a great experience using it.

For instance, of all wallets, Ledger Nano X is hands-down one of those with the most detailed educational and informative content.

Note that these hardware are not suitable for mining purposes.

3. Atomic Wallet (Software wallet)

Introduction

Atomic Wallet is a product from Atomic.

Atomic- 5 Best Ethereum Wallets for Safe trading and Storage

The Atomic wallet was founded by two persons. They are experts in business, cryptocurrencies, finance, and IT. The founders are early users of Bitcoin.

The company is located in the Republic of Estonia.

Security

The Atomic wallet is trusted by over one million users worldwide, it also stores Ethereum and over 300 coins as well.

Atomic Wallet is a relatively secure cold/online wallet that is decentralized and anonymous.

Trezor Model T and Ledger Nano X are ahead of Atomic Wallet in terms of security because the former are hardware wallets; at the same time, Atomic Wallet is secure enough, if you can keep your computer (or phone) safe from vulnerabilities.

Digital Asset Support

Atomic Wallet excellently supports Ethereum.

The wallet additionally supports most major digital assets, including:

— Binance Coin (BNB);

— Bitcoin (BTC);

— Bitcoin Cash (BCH);

— Bitcoin Gold (BTG);

— Bitcoin Private (BTCP);

— Dash (DASH);

— Decred (DCR);

— DigiByte (DGB);

— Dogecoin (DOGE);

— ERC20 tokens;

— Expanse (EXP);

— Fujicoin (FJC);

— Groestlcoin (GRS);

— Horizen (ZEN);

— Lisk (LSK);

— Litecoin (LTC);

— Monacoin (MONA);

— Namecoin (NMC);

— NEM (XEM);

— NEO (NEO);

— Ontology (ONT);

— Stellar (XLM);

— Tether (USDT);

— Tron (TRX);

— UBIQ (UBQ);

— Vertcoin (VTC);

— Viacoin (VIA);

— Wanchain (WAN);

— Zcash (ZEC); and

— Zcoin (XZC).

The wallet supports many more minor assets.

Platform Support

Atomic Wallet supports all major platforms. It supports Chrome OS, Windows, Linux, macOS, Android, and iOS.

Cost

Atomic Wallet costs $0.

Downloading the Atomic wallet and using it is free. This is the reason why you may want to consider it when starting with cryptocurrencies, then you could get a hardware wallet later.

Nice Additional Features

Atomic Wallet has some additional features you’ll hardly see in other wallets, the most important of these additional features is its “usage reward”.

When you use the wallet, you get rewarded with tokens of a cryptocurrency called AWC. This is unique to Atomic wallets.

4. Jaxx Liberty (Software wallet)

Introduction

Jaxx Liberty is a product from Decentral.

Jaxx - 5 Best Ethereum Wallets for Safe trading and Storage

Decentral was founded by Anthony Di Iorio.

He is —

—1: one of the early users of Bitcoin.

—2: a co-founder of Ethereum itself.

Decentral is located in Toronto, Canada.

Security

Jaxx Liberty is one of the most secure wallets in existence.

Trezor Model T and Ledger Nano X are ahead of Jaxx Liberty in terms of security because the former are hardware wallets; at the same time, Jaxx Liberty is secure enough, if you can keep your computer (or phone) safe from vulnerabilities.

Digital Asset Support

Jaxx Liberty excellently supports Ethereum.

The wallet additionally supports some major digital assets, like:

— Bitcoin (BTC);

— Bitcoin Cash (BCH);

— Bitcoin Gold (BTG); and

— Litecoin (LTC).

Platform Support

Jaxx Liberty supports all major platforms. It supports Chrome OS, Windows, Linux, macOS, Android, and iOS.

Cost

Jaxx Liberty costs $0. Getting it is free like the Atomic wallet.

Nice Additional Features

Jaxx Liberty has some additional features you’ll hardly see in other wallets, the most important of these additional features is that Jaxx Liberty will always be free.

A lot of other software wallets are free, but there is no guarantee that they’ll remain free forever.

5. Exodus Wallet (Software wallet)

Introduction

Exodus Wallet is a product from Exodus Movement.

Exodus - 5 Best Ethereum Wallets for Safe trading and Storage

Exodus Movement was founded by JP Richardson and Daniel Castagnoli.

Elaborating —

— JP Richardson, the CEO, understands the business and the technicality of cryptocurrency. He was a big contributor to a lot of Bitcoin-related software.

— Daniel Castagnoli understands the creation of lovely products. He worked with companies like Apple, BMW, Disney, Louis Vuitton, and Nike, to create very appealing products.

Exodus Movement is located in the United States.

Security

Exodus Wallet is one of the most secure wallets in existence.

Trezor Model T and Ledger Nano X are ahead of Exodus Wallet in terms of security because the former are hardware wallets; at the same time.

The Exodus Wallet is secure enough if you can keep your computer (or phone) safe from vulnerabilities.

Digital Asset Support

Exodus Wallet excellently supports Ethereum.

The wallet additionally supports some major digital assets, like:

— Bitcoin (BTC);

— Bitcoin Cash (BCH);

— Bitcoin Gold (BTG); and

— Litecoin (LTC).

Platform Support

Exodus Wallet supports all major platforms. It supports Chrome OS, Windows, Linux, macOS, Android, and iOS.

Cost

Exodus Wallet costs $0. Getting it is free. This is the reason why you may want to consider it, even though Trezor Model T and Ledger Nano X are more secure.

Nice Additional Features

Exodus Wallet has some additional features you’ll hardly see in other wallets, the most important of these additional features is “it’s easy migration to hardware wallets”.

After using Exodus Wallet for a while, you feel you want to migrate to a hardware wallet, doing so will be easier, compared to other software wallets.

Final Thoughts

Once again, the best Ethereum wallets are – Trezor Model T, Ledger Nano X, Atomic Wallet, Jaxx Liberty, and Exodus Wallet.

Choose which wallet is the most suitable for you.

Image credit: Abstract vector created by katemangostar – www.freepik.com

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