The Best Ethereum Wallets For 2022
Ethereum is the crypto-asset with the second-highest market capitalization. Only Bitcoin captures a size larger than Ethereum that, at the time of writing this review, occupies more than 17% of the cryptocurrency market alone.
It is evident from the percentage share that there are lots of crypto traders invested in the asset, which means looking for the best Ethereum wallet available in the market is a must.
Here, in this guide to the best Ether wallets, we'll provide the features and benefits of the vital players in the Ethereum wallet market so that you do not get confused with questions like where to store Ethereum or how to store Ethereum.
Table of Contents
The Best Wallets for Ethereum in 2022
You can find the best Ethereum wallets below, with hardware wallets and software wallet options available.
1. Ledger Nano X
The Ledger Nano X is one of the most sophisticated hardware Ethereum wallets.
It is Bluetooth-enabled and comes with a CC EAL5+ certification and ST33J2M0 secured chips. As far as compatibility goes, the Ledger Nano X is compatible with Windows 8+, macOS 10.10+, and Linux. You can also run it on iOS 9+ or Android 7+ smartphones.
You can install nearly 100 applications in the wallet and works with more than 1,800 crypto coins other than Ethereum.
The Ledger Nano X's hardware is made of brushed stainless steel and plastic and contains a lithium-ion 100mAh battery with a large screen for viewing with ease.
2. Trezor Model T
Among the most advanced crypto wallets is the Trezor Model T. The hardware crypto wallet supports Ethereum, Ethereum Classic, and 1200 other crypto coins, including Bitcoin, Litecoin, Dash, Zcash, and many more.
The Trezor Model T runs on a 168 MHz embedded ARM processor that drives its custom-developed system, known as the Trezor Core. The hardware wallet has CE and ROHS certification, ensuring compliance to necessary quality, reliability, and environmental standards.
Its LCD hosts a bright color resolution of 240 by 240 pixels and is appropriate for viewing the necessary data before authenticating transactions.
To store your private keys safely, Trezor has the unique provision of its digital keys, granting access to coins and other data.
It is also easy to recover the entire wallet with a 12-word recovery seed.
3. Ledger Nano S
The Ledger Nano S is another hardware Ethereum wallet that is available at a relatively lower price mark.
It comes in many color varieties, including Matte Black, Saffron Yellow, Flamingo Pink, Jade Green, Lagoon Blue, and transparent. You can install up to 3 applications on your Ledger Nano S, depending on their size.
Apart from Ethereum, the wallet supports all the leading and high-growth coins, including Bitcoin, XRP (Ripple), Bitcoin Cash, EOS, Stellar, and more.
The device has CCEAL5+ certification and ST31H320 secure chips. You can run it on a 64-bits desktop computer.
Although it is not compatible with the ARM processors, you can run it with all popular operating systems, including Windows 8+, macOS 10.10+, and Linux.
Like Ledger Nano T, you can combine the Nano S with the Ledger Live application. It offers you full control over your assets while keeping your coins offline and protected.
4. Coinbase Wallet
Coinbase is one of the most reputable software crypto wallets and available for download on both Google Play Store and the iOS app store. You can download it from the Chrome web store as well.
The wallet supports more than 500 assets, including Ethereum, along with Bitcoin, USDT, UNI, LINK, BCH, USDC, and LTC. The Coinbase wallet app allows you to trade these assets on the leading decentralized exchanges and earn interest.
In terms of storage security, the Coinbase app protects users’ keys with a secure enclave, biometric authentication, and optional cloud backups. You do not need any separate Coinbase account to access its wallet.
Apart from crypto coins, the Coinbase wallet helps you store digital collectibles such as punks and kitties.
5. Gemini Wallet
One of the most preferred wallets among experienced traders when it comes to storing Ethereum and other assets in an insured hot-wallet or institutional-grade cold storage system.
The app is available for download on the iOS app store, Google Play Store, and Galaxy Store. Its security features are one of the strongest suits of Gemini with insurance against theft, backed by global-standard underwriters.
It keeps its capital in reserve as a licensed fiduciary and New York Trust Company. Gemini’s user interface is user-friendly, and customer support is available 24/7.
6. Atomic Wallet
The Atomic Wallet serves both as a desktop wallet and a mobile wallet. With more than a million users worldwide, the secure software wallet is both decentralized and anonymous.
Apart from Ethereum, the wallet is compatible with other leading currencies, such as Ethereum, XRP, and Litecoin. You can download the Atomic Wallet app from Google Play Store and the iOS app store.
It is compatible with various operating systems, such as Windows, macOS, Ubuntu, Debian, and Fedora. It comes with a 12-word backup key, essential for the safety of the funds.
One of the enticing features of Atomic Wallet is that you can buy Ethereum with your bank card, and the wallet accepts fiat currencies such as USD, EUR, and most of the local currencies worldwide. You can also leverage the wallet to stake and earn.
The wallet has an inspiring user interface and enjoys the backing of some of the leading names in the crypto-world as partners, including CoinMarketCap, Binance DEX, Simplex, etc.
What is Ethereum?
The Ethereum (ETH) blockchain is an open-access platform to build digital money and data-friendly services for the community at large.
ETH is the platform’s native token and is popular as the world’s programmable blockchain that helps build decentralized apps (dApps).
dApps are products and services that run on Ethereum. There can be dApps for a wide array of use areas, including finance, social media, gaming, work, and more.
Decentralized Finance (DeFi) is one of the most prominent use cases of Ethereum. DeFi is an open, transparent, and inclusive financial system, helping users gain access to increased control over their funds and unlock new opportunities.
Non-Fungible Tokens (NFTs) are a unique way to tokenize one of its type assets and another popular case of Ethereum blockchain.
Ethereum also supports building Decentralized Autonomous Organizations (DAOs) which is a new way to collaborate and set up online communities that share goals and pool funds.
How to Choose an Ethereum Wallet
Choosing an Ethereum wallet does not require any special scrutiny than what you might need for any other crypto asset, such as Bitcoin or Litecoin.
An Ethereum wallet should be safe, and preferably, hold insured funds, especially if it's a software wallet. It should also support all possible operations that a cryptocurrency exchange would provide.
You should also be able to send, receive, store, and possibly stake and earn interest on your holdings.
Finally, the wallet should be compatible with your operating system and available for download on the iOS app store and Google Play store.
Our Final Thoughts
As a concluding thought, we would like to stress the aspect of category distinction. There are two types of wallets: hardware and software.
The hardware wallet comes as a physical device that you need to connect to your system when you make a transaction.
Since most of the time a hardware wallet is not connected to the Internet, it is highly secured from cyber-attack vulnerabilities.
On the other hand, a software wallet might have a malicious program running behind it, but convenient for frequent traders who value not connecting and disconnect it frequently when trading.
Frequently Asked Questions
There are two types of safety standards when it comes to Ethereum wallets.
A hardware wallet is more safe and secure than a software wallet. However, when it comes to the inherent security features of the wallet, see if it offers two-factor authentication.
Study the product description to know more about its chips’ security standards when it comes to a hardware wallet.
Also, look for the fund insurance features of the wallet. It is also vital to study the private key safety protocols. If you find that the security standards meet your expectations, you can very well go for that wallet.
The addresses of Ethereum wallets are anonymous. However, if the user fails to hide their IP address, it is traceable.
Some tools can leverage smart contracts and privacy-focused cryptography, known as zero-knowledge proofs, to send Ether anonymously.
It would be best to term Ethereum transactions, which are pseudo-anonymous, as tracing the identity of an Ethereum wallet owner would require extensive chain analysis and data mining skills.
In general, the source wallet address remains stamped on any Ethereum transaction.
Software wallets on apps like Coinbase are available for free. However, if you need to access premium services and advanced trading functions, you might need to pay for an upgraded version.
The hardware wallets, which are physical USB-like devices, would require you to pay. All cryptocurrency hardware wallets start at around $59 USD.