Ethereum Wallet Options: Which Ethereum Wallet Is Right for You?


Ethereum Wallet Options

Ethereum is the second largest Cryptocurrency, by market share, behind Bitcoin. With the ever-increasing interest in smart contracts and the global acceptance, by governments and large corporations, of Blockchain technologies, more and more consumers are seeking for a way to get their hands onto Ethereum. The 1st step to obtaining Ethereum is having a place to keep it. This makes getting an Ethereum wallet a top priority, and at the same time a daunting task for newcomers to the cryptocurrency world.

Beyond the often-difficult task of understanding how cryptocurrencies, and Ethereum specifically, work lies the problem of knowing what Ethereum wallet will work the best to suit the needs of the user. While the Ethereum is becoming ever more popular, is not as wide spread as Bitcoin, as of yet. The options are available for Ethereum wallets are few in number and the ones that are user-friendly are even more scarce. So, to help everyone better understand what their options are when it comes to finding and Ethereum wallet, the features that they offer, and what you can expect out of your Ethereum wallet, below is a list of the top Ethereum wallets that are available for consumers to begin buying, trading, and holding Ethereum.

Exodus Wallet
Ethereum walletExodus Wallet is a desktop wallet that can be downloaded and installed like any other software application. Once downloaded and installed, Exodus Ethereum wallet offers an easy to use and very user-friendly interface. With support for Ethereum, as well as 16 other cryptocurrencies it provides users with a diverse solution for their cryptocurrency wallet needs.

The Spotlight feature of the Exodus Ethereum wallet is the ability to exchange currencies directly within the wallet itself. Exodus supports Aragon, Augur, BAT, Bitcoin, Bitcoin Cash, Civic, Dash, Decred, District0x, EOS, Ethereum, ETH Classic, FunFair, Gnosis, Golem, Litecoin, OmiseGo and SALT. Users of the Exodus Ethereum wallet have the ability to switch between those currencies utilizing the ShapeShift service which is built directly into the wallet. This gives the user full control to be able to transact and trade in those currencies without the need for utilizing a third-party solution outside of the Exodus Ethereum wallet.

The Exodus Ethereum wallet also offers a portfolio tool which provides light charts to help you diversify the portfolio into a bottom line. With the Exodus wallet users also control their private keys the private keys are encrypted, and transaction data is kept locally on the user’s computer only. The data remains completely private and it requires no account set up whatsoever. Exodus Ethereum wallet also offers a multitude of graphical options, enabling the user to fully customize the look and feel of the desktop wallet. In addition, Exodus offers free customer support 24 hours a day, 7 days a week to help get any problems resolved quickly and efficiently.

Platform Support
The Exodus Ethereum wallet is available for Windows, Mac and Linux.

Private Key Control
with the Exodus Ethereum wallet, the user maintains complete control of their private keys.

Security
Exodus Ethereum Wallet is trusted as secure and safe. However, it should be noted that keeping access to your private keys on an internet connected device is always risky.

Wallet Recovery Options
You can recover your wallet using a 12-word phrase and from a back-up. These are the only two options for recovering your wallet. Should you not have access to a back-up or the 12-word phrase, there is no way that the wallet can be recovered.

Currency Exchange
Utilizing ShapeShift, Exodus Ethereum wallet users can convert in between the 17 supported currencies at any time, instantly and easily. ShapeShift makes it simple to convert your Ethereum into Bitcoin or any of the other 15 supported cryptocurrencies.

Multi-Asset Support
Exodus Ethereum wallet supports a total of 17 cryptocurrencies: Aragon, Augur, BAT, Bitcoin, Bitcoin Cash, Civic, Dash, Decred, District0x, EOS, Ethereum, ETH Classic, FunFair, Gnosis, Golem, Litecoin, OmiseGo and SALT.

Customer Support
Exodus Ethereum wallet, even though free from all costs to the end-user, comes with stellar customer support that is available 24 hours a day and 7 days a week for any technical problems, concerns or issues that you may have.

 

Meta Mask
Ethereum walletMeta Mask is a Google Chrome browser extension that allows the average, every day user to interact with smart contracts in a way that is user-friendly and requires no programming knowledge at all. An Ethereum wallet is built right into Meta Mask, making it easy for the end-user to have an all-in-one solution to the Ethereum network.

In order to install Meta Mask, it is a simple as going to the Google Chrome extension store searching for Meta Mask and hitting the install button. Once that is done, Meta Mask will be up and running and ready to go. The simple to use and easy user interface appears in the upper right-hand portion of the screen and is easy to see with their beloved Fox head as the main icon. Getting started with Meta Mask is just a simple. Simply enter an email address and create a password, and a copy down your 12-word seed phrase in case you ever lose your password this will be the only way to get back into your Meta Mask wallet and access your Ethereum funds.

When you open the Meta Mask extension you will be asked for your password, which when entered, will give you complete access to the Ethereum you hold as well as options for interacting with smart contracts.

Another feature that Meta Mask offers is the ability to add other tokens. By simply entering the token contract address, creating a custom token symbol for you to easily recognize the token and then enter the number of decimals to include for precision of value, a token can be added quickly.

Meta Mask also offers the ability to run on 3 separate test networks as well as on your own localhost and you can even create your very own custom RPC, making it an ideal solution for not only consumer level users, but developers as well.

You are able to also buy or sell Ethereum directly from your Meta Mask wallet utilizing either the Coinbase or ShapeShift exchange platforms. Choosing Coinbase will provide you with a link to the Coinbase website, where is choosing ShapeShift allows you to make the conversion directly within the Meta Mask extension. This is a very user-friendly and simple way to get your hands on some Ethereum directly from the Meta Mask Ethereum wallet.

Platform Support
Meta Mask is only available through the Google Chrome web browser as an extension.

Private Key Control
With Meta Mask, is shared control of your private keys. While you can access your private keys very easily right from the Meta Mask extension, Meta Mask also has access to these keys as well.

Security
Being that Meta Mask is part of the Google Chrome web browser, it is considered to be extremely secure and safe. However, it should be noted that keeping access to your private keys on an internet connected device is always risky.

Wallet Recovery Options
The Meta Mask Ethereum Wallet can be recovered using the 12-word seed phrase that is created when you create the wallet. Without this 12-word seed phrase, the wallet cannot be recovered, so it is suggested to keep several copies of this phrase backed-up in an offline location that is secure.

Currency Exchange
Meta mask has ShapeShift currency exchange services integrated directly into the Ethereum Wallet and currencies can be exchanged right from the small window of the Meta Mask Ethereum Wallet.

Multi-Asset Support
Meta Mask only supports Ethereum for its wallet services.

Customer Support
Meta Mask has an in-depth helpdesk that provides users with a ton of resources to answer any questions or address any concerns that may arise. As an alternative, you can create a support ticket and one of the developers will contact you accordingly.

Ethereum.org
Ethereum walletEthereum.org, offers users the option of creating either an account or a wallet contract. They define an account as a way to hold, receive and send Ethereum, but without the ability to see incoming transactions. For full functionality, you can choose to create a wallet contract, which will give you complete access to the network in full, along with control of your private keys. Along with the ability to set up your own smart wallet contract, Ethereum.org also allows you to create your very own custom token that can be used on the Ethereum network as needed based upon your needs.

The Ethereum.org wallet and account services are very simple and straightforward. There are no extra features or added enhancements to any of the services offered on Ethereum.org. While it is very basic in nature, is also the foundation of the Ethereum network and how the Ethereum token system works. While a viable option, it should not be your only option when it comes to an Ethereum wallet. They

Platform Support
Online Web based only, accessible through your internet browser.

Private Key Control
You have complete control of your private keys as long as you set up a wallet contract.

Security
Ethereum.org does not offer any security features other than you. Safekeeping of your private keys is essential to securing your wallet. Losing these keys will lose you any account balance you may have and there will be no way to get it back. If someone else obtained your private keys, that they will have full access to spend the money in your account.

Wallet Recovery Options
You are solely responsible for keeping track of your private keys and keeping them in a secure location.

Currency Exchange
The Ethereum.org wallet or account do not offer any currency exchange services.

Multi-Asset Support
Ethereum.org supports any and all tokens compatible with the Ethereum network.

Customer Support
Due to the nature and way that the Ethereum.org account and wallet services are set up, there is no direct support for these services. However, since in most instances you will be using another wallet application in conjunction with Ethereum.org, support can most likely be found from the wallet provider.

Jaxx Wallet
Ethereum walletJaxx Wallet is the newest Ethereum wallet to hit the market. While the wallet itself may be new, the company behind the Jaxx wallet has been involved in cryptocurrencies, Ethereum especially, since its early days. The Jaxx Wallet is a digital asset wallet that was created in 2014 by the Ethereum cofounder Anthony Dilorio. Available on just about every platform there is, it is a versatile wallet and tool for managing and monitoring cryptocurrencies.

With Jaxx, there is no sign up or registering needed. They give you complete control of your private keys. They do not lock you into using their platform specifically to private keys can be carried over to any wallet service you see fit to use.

Additionally, the Jaxx wallet is accessible through any of the platforms that they support. Any changes you make in your Jaxx app on one device will be visible the next time you open Jaxx and any other of the devices that you use. This is done by simply pairing your device one time with the Jaxx 12-word backup phrase. The truly innovative and easy-to-use solution for an Ethereum wallet that users of all levels can understand and use with ease.

The brilliance behind the Jaxx Ethereum wallet doesn’t necessarily lie within the software itself, yet the huge network that has been built up around in the form of the community. Due to the way that it is set up, users of the Jaxx Ethereum wallet have access to other users who can help them troubleshoot or find solutions for just about any problem, issue or other inquiries that may arise.

Platform Support
Jaxx Ethereum wallet is available on 8 different platforms. You can get jacks for your iPhone, Windows phone, Android, Windows desktop, Linux, Mac, a Google Chrome extension, and on the Jaxx platform itself.

Private Key Control
the Jaxx Ethereum wallet, you have complete ownership and control over your private keys. Jacks does not store or even know what your private keys are.

Security
Jaxx is considered to be a secure wallet option since your private keys are never stored on servers or otherwise transmit to anyone but yourself. With this being said, it is important to remember that losing your private keys or allowing someone else to get access to them jeopardizes your money.

Wallet Recovery Options
Jaxx Ethereum wallet utilizes a 12 word “Masterseed” which helps you manage the private keys to your Bitcoin, Ethereum, Litecoin, and other like chain assets. Without this 12-word phrase, you will not be able to recover your wallets or any funds that it contains.

Currency Exchange
Jaxx Ethereum wallet and blockchain interface give you the ability to swap out between the different cryptocurrencies that they support. You can easily trade your Bitcoin, Bitcoin Cash, Ethereum, Ethereum plastic, Litecoin, and other cryptocurrencies simply and quickly and securely with his fewest 2 clicks or touches.

Multi-Asset Support
Jaxx has support for dozens of cryptocurrencies, including Bitcoin, Ethereum, Litecoin, Dash, Zcash along with dozens of other coins. It is by far the Ethereum wallet with the most diverse cryptocurrency support that there is.

Customer Support
Jaxx offer is an immense of knowledge base, full of questions that are most frequently answered, the ability to open a support ticket if needed, and access to other members of their immersed platform community. The level of support available for Jaxx is practically endless, making it a great tool for users of any level to use and get the most out of.

Coinomi Ethereum Wallet
Ethereum walletCoinomi is a multi-coin, multi-asset HD wallet for Bitcoin, altcoins and tokens, including Ethereum. It is only available for Android or iOS This provides a wonderful option for an Ethereum wallet. Your private keys never leave the device that you are using. The incredibly strong wallet encryption and the cryptography used guarantee that your money is going to remain safe and always in your complete control. It offers enhanced privacy and anonymity by hiding your IP address from prying eyes while performing a transaction. There is no bureaucracy or other rules, or regulations required to access your funds.

It is a hierarchal deterministic wallet “BIP44”, or capital HD Ethereum wallet, which enables you to keep everything ultra-secure, yet still accessible by utilizing one super passphrase which you only have to back up once. While not an open source project, they do provide earlier versions of the code which are publicly available for anyone to review. The advanced technology used to create the Coinomi Ethereum wallet, enables you to use any of your alt coins to pay directly into your Bitcoin address and vice a versa. This eliminates the need for extra steps or repeated sign-ups or sign ins. It is truly a one click, cross chain payment process that is unique to the Coinomi Ethereum wallet.

Coinomi is also integrated with ShapeShift, allowing users to instantly exchange between currencies all within the wallet itself. Available in every major language with new languages added all the time, along with being a totally streamlined and user-friendly experience make it a superb choice for an Ethereum wallet.

Platform Support
Coinomi is only available on mobile devices running Android or iOS operating systems.

Private Key Control
Private Key control remains on the device that you are using, giving the ultimate control over your currency.

Wallet Recovery Options
Coinomi Ethereum wallet is in HD wallet, meaning that it allows you to keep everything accessible and secure all by using one super passphrase, which by backing up once assure that you can always have access to your funds.

Currency Exchange
Coinomi Ethereum wallet supports exchanging between all supported currencies utilizing the ShapeShift platform. Instant currency exchanges can be done right from within your Ethereum wallet.

Multi-Asset Support
With support for 92 cryptocurrencies, the Coinomi Ethereum wallet is a diverse platform that can allow you to build a very nice and custom cryptocurrency portfolio.

Customer Support
Coinomi provides support for their Ethereum wallet through a very in-depth knowledge base, along with the complete solutions center. Those who cannot find the information they seek in one of those 2 massive libraries of information can always create a new support ticket and a member of the support team will be in touch to help you with what you need.

Coinbase
Ethereum walletCoinbase is by far the most popular of the Ethereum wallet choices. While it is a platform that does not offer any sort of open source code or transparency, as a lot of the other options on this list do, Coinbase is by far one of the most respected and trusted platform in the cryptocurrency world. The Coinbase Ethereum wallet comes with every account, upon creation. Bitcoin and Litecoin wallets also come as part of the account creation. Coinbase is only available to users who reside in the United States of America.

Using a web service such as Coinbase, requires the user to give up control of their private keys. If you are someone who dislikes this option than Coinbase may not be for you. However, for users who are not as technically advanced or who do not require the decentralized nature of cryptocurrency as one of the benefits that they need, Coinbase is a viable solution. What this means, is that you give up control of your funds and allow Coinbase to determine the rules. While not a bank exactly, Coinbase is the closest thing to a bank you’ll find in the cryptocurrency world. With that being said, they are trustworthy and where well-respected.

Platform Support
Coinbase is available mainly as a web-based solution, requiring users to login to their website and interact with their wallets in that manner. Mobile app options are available, but are limited in features in comparison to the web-based platform.

Private Key Control
With Coinbase, you do not have access to your private keys, let alone control of the. Coinbase holds an agreement retains all rights to the private keys, severely limiting the users control of their funds while at the same time handing over control to Coinbase.

Security
Coinbase is a web-based solution, and as such has a potential for being hacked and having data compromised. Being the reputation the Coinbase has, along with the technology available in web security today, while not impossible a hack is most likely improbable of their platform.

Wallet Recovery Options
Being the Coinbase is a web-based solution, losing access to your wallet can be remedied by simply clicking the forgot password link and following the steps to retrieve access to your account.

Currency Exchange
Coinbase allows for the exchange of between the currencies they support, which are Ethereum, Bitcoin, Litecoin and USD.

Multi-Asset Support
Coinbase supports Bitcoin, Litecoin, and Ethereum. Plans to support Bitcoin Cash are forthcoming and no determination has been made on whether or not Coinbase will support Bitcoin Gold.

Customer Support
Coinbase is dedicated to customer support and customer service. Therefore, users can be assured that their needs will be attended to in a very quick manner and with the goal of making sure that customers completely satisfied.

My Ether Wallet
Ethereum walletMy Ether Wallet is another web-based solution for your Ethereum wallet needs. However, unlike many of the web-based solutions available, my ether wallet allows you to keep complete control of your private keys and plays no part in any decisions made about the funds in your account. While it is true that they do have access to the private keys since they are generated by my ether wallet, it is generally considered secure and safe since the process is automated and your private key is encrypted                                                                                         with the password that you create upon creating the new wallet.

As such, my ether wallet it is not a very feature rich wallet service at some of the other ones, however it does apply a viable use option for storing your Ethereum. Out of the very few features that are available, the ability to integrate other wallets into my ether wallet is the thing that makes it a great solution for a web-based platform to view, manage, and work with your Ethereum wallet balances.

Platform Support
My ether wallet is available via the Internet through your web browser only.

Private Key Control
Private keys are generated and distributed by my ether wallet, however you retain complete control and encrypt your private keys by creating a password on the website.

Security
My ether wallet provides the same level of security is any other web-based solution. With this being said, the potential for the website being hacked in your information being compromised is a possibility.

Wallet Recovery Options
When using my ether wallet, you will create your new wallet and with it a password. The password that you create will be used to encrypt your private key. This does not mean that you can forget about your private key or have no need for it. My ether wallet requires you to know both the private key and the password you created in order to unlock your wallet. Losing either pieces of this information will keep you out of your wallet indefinitely as there is no support for retrieving lost password or private keys available. So, it is important to keep your private keys and password that you create safe and secure, preferably in multiple locations and off-line.

Currency Exchange
My ether wallet offers no currency exchange services beyond the typical receiving and sending of Ethereum or tokens supported by the Ethereum network.

Multi-Asset Support
My ether wallet supports Ethereum, as well as any tokens created on the Ethereum network or supported by the Ethereum network. There is no support across black chain assets or activity.

Customer Support
My ether wallet provides a knowledge base and no additional support. Being that is a that is a free, open-source, client-side interface, there is no staff to provide support to the end-user other than the community at large.

Additional Options for Ethereum Wallets
All of the above options are viable options for when you need to transact quickly, securely and with as little hassle as possible. However, if transacting in the Ethereum isn’t your main concern, but obtaining and then saving and storing your Ethereum long-term is, then you may want to look at your hardware wallet often called a cold storage solution. Below are the top picks for storing your Ethereum off-line and on a device, that was built specifically for the task. While the options above may offer options for cold storage, such as paper wallets, the services mentioned below are designed specifically to provide you with a device that was built for storing cryptocurrency value by giving you a place to store your private keys that is off-line and secure.

Hardware wallets are a viable option if you do not plan on transacting frequently and wish to allow your digital assets to accrue value over time, while keeping your private keys completely safe and off-line. With any of the options below, you will still need to utilize a hot wallet, or a wallet that is connected to the Internet, such as the ones listed above. It is still very important to make backups of your private keys to multiple locations when using hardware wallets. This helps to ensure that upon hardware wallet device failure, you can still access the funds in your Ethereum wallet.

Ethereum Hardware Wallets

Ledger Nano S
Ethereum wallet
The Ledger Nano S is a hardware wallet that is small and compact, and looks suspiciously like your average flash drive. It is based on robust safety features that were intended specifically for storing cryptographic assets and securing digital payments. The connects to any computer via a USB port and embeds a secure oh LED display to double check and confirm each transaction by simply tapping on the side buttons. Using a pin code, your private keys are secured and never exposed. The transaction cannot be modified edited or tampered with in any way, they are physically verified on the screen of the device of the device.

Utilizing companion apps the Ledger Nano S allows you to send and receive payments, check accounts, and manage multiple addresses for each of the currency all from the same device. And with support for the FIDO universal 2nd factor standard compatible online services such as Gmail, Dashlane, Dropbox or GitHub are all easily accessible right from the device.

When you receive your Ledger Nano S, it will come with the device, a supported USB cable, and instruction booklet, a few minor accessories and a recovery sheet which can help you get back into a wallet should you lose access to it. With over 27 apps already supported and available, it gives you a diverse way to store your Ethereum and other digital currencies.

The Ledger Nano S is priced at €58 plus any applicable taxes, making it a affordable solution to be used as an Ethereum wallet.

Private Key Control
With any hardware wallet, control of your private keys is solely left up to you. No one, not even the manufacturer of the device has access to your private key.

Wallet Recovery Options
While recovery options are available, they are limited and dependent upon your ability to obtain the private keys needed for the wallet that needs to be recovered.

Multi-Asset Support
as with most hardware wallets, you are essentially only storing your private key information. This makes it possible to essentially store any cryptocurrency in a hardware wallet.

Customer Support
The Ledger Nano S is a consumer product that is offered up by a large corporation, meaning that there is customer support services available. While device support is an abundance, support for the actual cryptocurrency in question or activities related to the handling, trading or storage of the cryptocurrency are usually not covered, as the customer support team is not associated with the cryptocurrency in question.

Trezor
Ethereum walletTrezor is by far the most well-known hardware wallet provider in the industry. They were the 1st to develop a hardware solution for storing cryptocurrencies, and have since helped to innovate and revolutionize the hardware storage industry. They have several product options available that are all affordable, easy-to-use and integrate well with just about any cryptocurrency there is, making them a viable source for a hardware Ethereum wallet.

Trezor goes above and beyond the standard hardware wallet service by offering an extension for Google Chrome that allows your computer to talk to your device one of the most secure environments imaginable. Their flagship hardware device called the Trezor black cost €89 and is considered one of the most trusted hardware wallets in the world.
Platform Support
Trezor supports Windows, Linux, Mac, iOS, and Android devices for both the hardware wallet integration as well as their web-based solution.

Private Key Control
Being a hardware wallet, Trezor give you complete access and control over your private keys. Trezor will never know your private keys since you do not even put these into the device until you receive the device yourself.

Security
Being a hardware wallet, Trezor is considered to be one of the most secure, if not the most secure option for storing Bitcoin and Ethereum in the world.

Wallet Recovery Options
Wallet recovery options are limited and are dependent upon the ability of retrieving the private key so it is suggested that you make multiple copies of the private key and store them in separate locations that are secure and safe from prying eyes.

Currency Exchange
Trezor does not support exchanging between currencies.

Multi-Asset Support
Hardware wallets store data, meaning that they can store just about any private key in the world.

Customer Support
Trezor provides custom support for its device and the device functionality only, but not for cryptocurrency specific needs.

Keep Key
Ethereum walletKeep Key is a great solution to use as an Ethereum wallet. Along with Ethereum, Keep Key also supports Bitcoin, Litecoin, Dogecoin, name coin, and Dash. Keep Key works in tandem with the software on your computer. It typically takes over the management of the private key generation, the storage of the private key, and signing of the transactions. Combining its custom hardware-based random number generator along with the randomness provided by your computer keep T is able to generate you a unique private key that is secure. Once the key is generated you will have a one-time opportunity to make a backup of that private key in the form of a 12-word recovery sentence.

The device itself is pin protected, making it useless should you lose the device, or someone pick it up. Keep Key also offers support using ShapeShift, for exchanging between the assets it supports. It has compact build, is very lightweight and is made of a durable polycarbonate material and comes with its very own anodized aluminum case.

The KeepKey is available directly from the manufacturer or through Amazon for $129.

Platform Support
Keep Key is available for PC, Mac, Linux and Android devices only.

Private Key Control
As with any hardware wallet, private key control is fully given to the user as the user is one who generates the private keys after they received the device.

Security
The KeepKey Ethereum wallet is virus and malware proof and pin protected, giving you a very secure Ethereum wallet option.

Wallet Recovery Options
Wallet recovery may be accomplished using a 12-word phrase that the user creates when they create a new wallet on the device. Without this backup phrase or knowing the private key, mullet recovery is impossible.

Currency Exchange
Keep Key supports exchanging between currencies that are supported by the device, utilizing the ShapeShift platform.

Multi-Asset Support
Keep Key supports Bitcoin, Ethereum, Litecoin, Dogecoin, name coin, and Dash.

Customer Support
Customer support is available for any device related issues or questions. Support for specific cryptocurrency needs is not available.

Conclusion
When choosing an Ethereum wallet, it is important to determine what your specific needs are before making a choice. The different options available all have different features, level of support, and other factors that need to be considered based upon your specific needs. Determining what these needs are may be difficult as well and could change from time to time, making it possible that you may need to use 2 or more of the options available. The one thing that all of the Ethereum wallets have in common is the need for you to have access to the wallet at all times. Whether that means keeping your private keys backed up in secure locations that you can access easily whenever needed for making sure that you trust the third-party service that will control the private keys for you, it is the essential thing to keep your Ethereum or any digital asset on hand, and available when you need it.

The post Ethereum Wallet Options: Which Ethereum Wallet Is Right for You? appeared first on CoinStaker | Bitcoin News.



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