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Top 10 Best Reliable Ethereum Wallet

CoinGyan
Originally published at coingyan.com ・10 min read

Ethereum is the second-largest cryptocurrency after Bitcoin. You can check this fact at any point in time on coinmarketcap, and this is the reason why more and more investors are moving to Ethereum. This has subsequently surged the demand for secure Ethereum wallets where the investors can keep their coins secure.

For this purpose, I have listed down the top ten cryptocurrency wallets that would be the best choice to fulfill your need to store precious ETH.

So what are we waiting for? Let’s get started.

1.Nash Wallet

Nash Wallet - CoinGyan

The wallet from Nash is an innovative and next-level initiative to secure the private keys of the users. Nash platform works on an upgraded client protocol for generating the signatures having secure multi-party computation (MPC). It should be noted that MPC is the technology behind Nash’s decentralized API keys. This non-custodial wallet from Nash offers hardware-level security without any cost.

The upgraded protocol allows the users to sign the transactions on Nash without using full private keys. Instead, the transactions are co-signed with Nash through multi-party computation, which ultimately enforces security policies such as withdrawal limits and address whitelisting. It has configurable security policies, which make the Nash arguably safer than most of the hardware wallets out there.

Pros of Using Nash Wallet

  • Users can store the seed phrase as well as private keys offline.
  • You can use Nash accounts completely free.
  • It has two-factor authentication enabled.
  • MPC Technology, which is complex and considered the best security practice.
  • Direct access to Nash’s non-custodial cross-chain exchange, fiat on/off ramps, and Nash Link (to make cryptocurrency payments).

Cons of Using Nash Wallet

  • No Cons to be honest unless you are a High Volume Trader and doesn’t want KYC

2. Trust Wallet

Trust Wallet - CoinGyan

The brainchild of Viktor Radchenko, Trust wallet is a decentralized cryptocurrency wallet for mobile that supports more than 160 cryptocurrencies, and Ethereum is one of them. In fact, the wallet was originally developed to store ERC20 and ERC 223 tokens. This wallet also features a built-in Web3 browser to allow the users to have access to the decentralized applications, i.e., DApps made on the Ethereum platform. Isn’t this exclusive?

Not to forget that Trust Wallet is a non-custodial wallet and does not store any data from the user. It provides them an option to hold their private keys locally on their personal devices instead of relying upon Trust Wallet’s servers.

You can get started with Trust Wallet for free of cost as it is a free application, and anybody can download it from Google’s Play Store or Apple’s App Store. There are no initial payments or subscription fees. The only cost which you might have to bear are gas fees, which are levied to process the transactions.

As far as the security goes, It has a robust security protocol enabled and further allows the users to add an extra security layer through pin code or fingerprint scanning.

Pros of Using Trust Wallet

  • Available to download for both Android and iOS devices.
  • The code on which Trust wallet has been made is open-sourced to allow the developers, cyber-security experts, or anyone to contribute for further development.
  • Trust wallet is audited regularly by a security firm named Stateful.
  • It has maintained a clean and straightforward User Interface.
  • It has a user base of more than 5 million members from different parts of the world.

Cons of Using Trust Wallet

  • If you don’t have back up and you lost the device all your coins are gone
  • It is a hot wallet that makes some users a little concerned.
  • Some Integrated services, such as Shapeshift and Changelly, demand user verification.

3. MetaMask

MetaMask Wallet - CoinGyan

MetaMask is a widely popular wallet available for desktop as well as mobile devices. Not only MetaMask can be used for storing the ETH or any other ERC-20 tokens, but it can also be used for interacting with Ethereum Dapps. The good news is that you can use MetaMask right on your browser via an extension available for Chrome and Firefox along with its Mobile App which is published recently. Once you install this software, then you can have access to the wallet right on your browser, where you can easily store your tokens. The private keys on this wallet are password encrypted that you can save on your machine and export anytime.

Pros of Using MetaMask

  • It is an open-source wallet. A large development community regularly contributes to its development.
  • The wallet makes use of hierarchical deterministic settings for easy backup of the accounts.
  • It has an integrated Coinbase exchange.
  • The wallet has a friendly user interface.
  • The customer support service is fast and reliable.

Cons of Using MetaMask

  • It is a hot wallet, which is a little concerning from a safety perspective if not used carefully.
  • The browser has access to the user’s information compromising personal data.

4. Ledger

Ledger Wallet - CoinGyan

Ledger is the most modern and robust wallet in today’s date and has been the champion of the hardware wallet industry for a very long time. It supports many cryptocurrencies, and Ethereum is one of them. It has a compact size making it easy for you to fit the device in your pockets. You can easily set it up on your desktop, android, or iOS device.

The easiest and most reliable way to handle Ethereum on a ledger device is via the Ledger Live app, which you can access right from your desktop or mobile device. Also, it has n advanced mobility because of its Bluetooth and superb battery characteristics. For those who are hesitant to use the Bluetooth feature for establishing connectivity, then they can also use a USB-C cable.

Pros of Using Ledger

  • Being a cold wallet provides ultimate security to the users.
  • Adding your ETH tokens is fast and easy in a ledger wallet.
  • Supports multiple languages to help users from different parts of the globe.
  • Ledger has incorporated itself as a brand and has been in the industry since 2014.
  • The price is also affordable for a major section of the population.

Cons of Using Ledger

  • The Bluetooth function might turn out to be a security risk, but the company has claimed that no private keys or seed can be transferred via Bluetooth.
  • For ERC 20 token transfer or Web 3 dapp Like trade in Uniswap, you need to use MEW or Meta Mask
  • Though Their wallet is great, in the recent breach of their online shop database The personal info of thousands of users leaked, they informed the public very late, and still don’t take responsibility.

5. Torus

Torus Wallet - CoinGyan

One of the core missions of blockchain technology is to incorporate easier ways for secure transfer of the cryptocurrencies online, and Torus, a Singapore-based company, seems to be in the direction of fulfilling this mission. It offers simple and secure technology to allow the users a one-click login for Web 3.0. The technology is capable of eliminating the need for the users to log in to every site they use regularly. Instead, it provides the users with a decentralized environment providing access to social identities like Google, Facebook, and many other OAuth logins.

The technology uses social identities to generate private keys so that it becomes fast and easy for the new members to access the dapps. A digital identity account can be created to sign-in and start using the dapp.

You can think of it as a starter decentralized key wallet that helps all those users who don’t want to deal with their private keys during the initial stage. It should also be noted that the wallet distributes sensitive data stored in the user’s private keys in between the user and the Torus network.

Pros of Using Torus

  • Torus network not only supports Ethereum but many other crypto assets.
  • Torus has been successful in raising more than $2 million in the summer of 2019 to fund their project with the support of major industry partners like
  • Coinbase Ventures and Binance Labs.
  • Torus wallet has a new one-click Chrome browser extension known as the key, which is a customized two-factor authentication.

Cons of Using Torus

  • Torus wallet is new in the cryptocurrency world, and it would take some time to establish confidence among users.

6. Exodus

Exodus Wallet - CoinGyan

For all those users who are beginners and don’t have much experience with using a cryptocurrency wallet, then they can get started with Exodus. It has a beautiful and friendly user interface making it easier for you to navigate around its features. It is compatible with multiple devices like Windows, macOS, and Linux and is available for use even on the smartphone.

One major highlight about Exodus is that it can be synced with the Trezor portfolio allowing the users to avail the advantages of a hardware wallet as well as a digital wallet at the same time. Exodus has multiple exchange partners like ShapeShift so that the users always have an option to trade in multiple assets at a time.

Pros of Using Exodus

  • The users can use Exodus to transfer and receive funds from smart contracts.
  • Exodus allows users to hold their private keys.
  • The human support desk is available 24*7
  • Hardware wallet support for Trezor
  • Free to download

Cons of Using Exodus

  • It does not have smart contract support.
  • It does not have two-factor authentication.

7. Portis

Portis Wallet - CoinGyan

Portis is a simple multi-blockchain wallet founded by Itay Radotzki and Tom Teman in May 2018. It has been designed to establish fast and easy connectivity with dapps. The users registered on Portis can simply connect with dapps through an email and password from any web browser on any device, including smartphones.

It is easy to set up Portis because all it takes is a few taps. There is no need to download any specific web browser or extension. Also, there is no need for the users to get familiar with jargon like private keys or key phrases because t*he users have to simply enter the email address and password for signing-in.*

Pros of Using Portis

  • The onboarding process is very simple and streamlined.
  • Portis has a built-in fiat gateway so that the users can buy cryptocurrencies with their debit or credit cards.
  • Portis supports not only the Ethereum network but many others as well, like Bitcoin and EOS.
  • It is easy to integrate Portis into new or existing dapps.

Cons of Using Portis

  • Portis wallet is a newbie in the market, and as such, it is still in the process of establishing a credible identity for itself.

8. HyperPay

HyperPay Wallet - CoinGyan

HyperPay wallet works on the methodology of diversification, which is why there are so many tokens in the market that are compatible with it. The wallet has on-chain as well as off-chain functionality as of now, and the developers are constantly working hard to render maximum tokens support for each.

The off-chain wallet of HyperPay currently supports 111 tokens, whereas most of the other wallets support only around 20 or 25. Not only this, but it also supports some exclusive coins that cannot be stored anywhere else except paper wallets.

The on-chain version of the HyperPay wallet is newer in comparison to an off-chain wallet, but it is also on the track of providing a roof to an unparalleled range of supported tokens. As of now, the off-chain wallet supports all ERC-20 tokens.

Pros of Using HyperPay

  • The cryptocurrency development community has an immense interest in HyperPay.
  • The HyperPay wallet has a market ticker that provides real-time coin prices listed on major exchanges.
  • HyperPay is also planning to launch Visa as well as MasterCard credit cards, which will accept mainstream cryptocurrency assets as their payment alternatives.
  • Available to download for free of cost on Android and iOS devices.

Cons of Using HyperPay

  • The off-chain wallet is not fully developed yet, and the developers are still working on some features to add to this wallet.

9. Trezor

Trezor Wallet - CoinGyan

Trezor is the first legitimate hardware wallet initially invented for Bitcoin but now can be used to store Ethereum as well. This wallet has been designed by SatoshiLabs, and today it is used by traders and investors from all across the world. It looks like a small beacon device with an OLED and has lightweight, which makes it easy for you to carry it around.

The Trezor wallet can be used with Android devices as well as applications like Trezor Wallet, Multibit HD, and Mycelium. The positive factor here is that the entire wallet is backed up with the 24-word seed that is generated using a random number generator while setting it up on a device or computer. This seed is produced offline and never on a device connected to the internet so that it can stay out of the reach of hackers.

Pros of Using Trezor

  • It is very light, highly portable, and pocket-friendly.
  • Easily recoverable with the 24-word seed and passphrase if lost.
  • It is a 100% cold-wallet.
  • It supports two-factor authentication (2FA).

Cons of Using Trezor

  • You cannot use Trezor on iOS devices.
  • It is not hierarchical deterministic.
  • It has a plastic exterior, which gives it a less-robust feel.
  • For ERC 20 token transfer you need to use MEW or Meta Mask

10. Coinbase wallet

Coinbase Wallet - CoinGyan

Coinbase wallet is one of the most popular and safest cryptocurrency wallets, where you can store not only Ethereum but many other coins. It has a clean and simple user interface allowing the users to understand it quickly without any problems or need for external support. The reason why so many users trust this wallet is because of its roots that trace back to Coinbase exchange, which is the world’s leading cryptocurrency exchange platform.

Pros of Using Coinbase Wallet

  • You can register for free of cost on your Coinbase wallet.
  • Coinbase wallet has top-notch security features like two-factor authentication, multiple signatures, and confirmation requests.
  • The clean user-interface prevents the users from getting tangled in the web of technical jargon.

Cons of Using Coinbase Wallet

  • Coinbase wallet does not support an extensive range of cryptocurrencies but only a small range.
  • It is a hot wallet, which means that your ETH tokens are located online. It makes them exposed to malicious attacks or online theft.

Conclusion

In this article, we discussed ten reliable wallets where you can securely store your Ethereum investments. Cryptocurrency is at its peak, and making an investment in it is the right decision but what’s more important is safe storage. For this purpose, you can pick any of the above ten wallets, whether cold or hot, and store your purchased coins in them. Just remember that every wallet has its pros and cons. So, please study them carefully and make your decision.

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