After you decided to trade ETH and the proportion that you put into it, it is also critical to think about where to store your assets safely and how would you make use of the tools. Getting started with choosing an Ethereum wallet can be a complex process, especially when there are a wide variety of ETH wallets in the market. Therefore, in this article, we will go through the top 5 ETH wallets in terms of practicality and security. You can do a comparison of their features based on your needs.
When you look into Ethereum wallets, the most important question is: what kind of wallet do you need?
Firstly, you have to consider the storage of the wallet, whether you will be storing a large number of assets in the wallet. Therefore, you have to pay attention to the storage size of the wallet if you usually trade a large amount. Secondly, how often you trade and move your assets. Using a hardware wallet is usually inferior to the software in terms of the ease of coins movement. And finally, the compatibility of the platform of the wallet. You want to make sure the ETH wallet you use is compatible with different platforms. For instance, storing Ethereum with your mobile phone, a desktop, or a hardware device.
We have selected a list of common Ether wallets where to store your assets safely. Find the one which is best suited for your needs!!
Ledger Nano S – A Hardware wallet to Store your Ethereum Safely
Ledger Nano S is one of the most popular hardware wallets that secures your digital assets, including Ethereum, Bitcoin, XRP, and more. It costs US$72 and can hold more than 1,100 coins and tokens which is sufficient for most investors. When you start the device, it requires you to enter a PIN code, and that will be used to connect the device.
As mentioned earlier, a hardware wallet might make it harder to move your assets frequently. But it is a more secure way to store your assets, as Ledger Nano S is an offline storing way, there is no risk of hacking or loss due to technical problems.
Trezor One – One of Popular Digital Assets Wallets
Trezor One is another popular hardware ETH wallet, and also the oldest Bitcoin hardware wallet, which supports 1000+ coins. Again, the highlight of a hardware wallet is its security and the Trezor hardware wallet is no exception. Users can securely enter the pin via computer or mobile devices. The Trezor PIN code system will increase the waiting time by a power of two when you enter the PIN incorrectly. Trezor One will generate a new PIN every time you perform any action. One disadvantage is that it does not support coins like XRP, Cardano, Monero and Tezos, but for ETH, sure it does support.
Metamask – A Digital Assets Wallet for Storing and Trading Ethereum
Metamask is one of the well-known software wallets, which is trusted by over 1 million users worldwide. You will be given private keys which has password encryption with Metamask, thus storing your assets in a safe place under your control. Also worth mentioning is that you can manage multiple wallets on Metamask at the same time. Users can use it through your browser or an App. But please note that it is less secure compared to the hardware wallets.
Exodus – The World’s Leading Desktop, Mobile and Hardware ETH wallets
Exodus is a common wallet choice in the market. It works as an application wallet and desktop wallet. In the app, The clearly shows the live charts and portfolio of your wallet, giving you better access to managing your assets. Also, it provides a significant feature of its built-in exchange. Users not only can store their assets in the wallet but also trade between Bitcoin and 100+ digital assets in one app. Exodus is also available on iOS and Andriod, which syncs with your desktop app.
MyEtherWallets – Ethereum’s Original Web Wallet
MyEtherWallets is probably the most common web wallet. It is a user-friendly designed interface, which is suitable for investors who are interested in the Ethereum blockchain, especially beginners.
Yet, web wallets are less secure comparing to hardware wallets or software wallets, users should be aware of any suspicious actions in the wallet.
After picking a suitable wallet, investors may also want to look into digital assets exchanges for trading. ETH Pro – The Only ETH OTC Specialist in Hong Kong helps you to settle most of the mainstream fiats and digital assets transactions.
There is always a risk with all types of investment. Investors should get familiar with the digital assets environment and the selected trading platform before you start your trading!