Best Ethereum Wallets 2021
I just spent some time today listening to Ethereum’s founders Vitalik Buterin on Daba radio and I must commend him for the amazing work he and his team are doing with Ethereum.
Currently, Ethereum is the second-biggest cryptocurrency by market cap and as of the time of this writing, Ethereum has surpassed all predictions for 2021. According to Coinquora, Ethereum will likely surpass $5000 by the end of the year.
Ethereum championed the course for the creation of the NFT MarketPlace with their smart contract and this singular action has led to a bullish performance of the currency.
Since 2020 Ethereum has been witnessing a significant upsurge in popularity after the Defi boom. According to DappRadar, 95% of the total transaction volume reached $270 billion, with 95% of this figure attributed to the Ethereum Defi ecosystem.
What is Ethereum (ETH)?
According to Ethereum.org, “Ethereum is a technology that’s home to digital money, global payments, and applications. The community has built a booming digital economy, bold new ways for creators to earn online, and so much more. It’s open to everyone, wherever you are in the world= all you need is the internet.
These factors and more have made Ethereum become one of the most sought after cryptocurrencies in the market, as it attracts new users daily, people are looking for the best wallets to keep their Ethereum safe and we are here to give you some of the best wallets you can use to keep your Ethereum safe.
Factors to Consider when choosing an Ethereum wallet
The first thing to look out for in any wallet you want to use is security, how strong is the security? Do they have a backup plan? How easy can you recover your funds in case of theft or loss?
Some of the security features most secured wallets have
Multiple signature feature
Experienced Developers and Strong Community
Wallets with experienced developers are easy to manage in case of any security threat, a wallet with a strong community base is a confirmation that they know what they are offering.
Simple user interface
This feature is key; choose something easy to use is always better to avoid complications and difficulty.
Compatibility with other operating systems and platforms
Types of Ethereum Wallets
- Desktop wallet
- Software wallet
- Online wallet
- Mobile wallet
- Browser wallet
- Hardware wallet
Each of the above-listed wallets has features that make them unique from each other, before using the type of wallet, kindly research it before using.
Best Ethereum wallets to use
MyEtherWallet is a famous online wallet dubbed the first Ethereum wallet which is an open-source wallet used for storing Eth and ERC20 tokens. This wallet is easy to use and you are not required to set up anything on your pc. You can use this wallet to interact with hardware wallets like Nano S and Trezor. You can keep your Ethereum private keys and anonymous.
Guarda is a cold wallet that supports multiple cryptocurrencies with a desktop and mobile app version. Guarda allows users to control their private keys. and One of the first to support multiple types of coins and tokens, Doesn’t store personal info.
Mist is the official Ethereum desktop wallet, which was developed by the makers of Eth. You can store your ERC 20 Token, although a little bit technical, it Is easy to install and available for OS, LINUX, and MAC users.
Metamask is the people’s favorite wallet, it was developed by ConsenSys a founding team for Ethereum blockchain, this wallet was developed first as a browser extension and also easy to use, you can also use this wallet to send and receive your NFTs and ERC20 tokens.
Ledger Nano S
Ledger Nano S comes highly recommended as one of the best hardware wallets. It supports not Ethereum, it also supports different types of ERC-20 tokens, and even other cryptocurrencies, including Bitcoin, Litecoin, and so on. Nano S can also be integrated with MyEtherWallet to send, receive, and hold tokens. It runs on operating systems such as Windows, macOS, and Linux.
BRD is a cold wallet that runs on IOS and Android for Ethereum and other cryptocurrencies.
Trezor Secure physical device that supports multiple cryptocurrencies and uses two-factor authentication with an established reputation, the Trezor has Physical buttons or touchscreen and supports nearly 700 types of coins and tokens.
I’ve considered a small number of Ethereum wallets, there are dozens of others, and some are still in the works as the Ethereum Blockchain Ecosystem develops. More wallets will be built to meet the demand of users. Each of these wallets comes with its Pros and cons, you have carefully ensured the one you choose must meet the criteria of safety and functionality.