Compare Ethereum Wallets

Find the best Ethereum wallet to store your cryptocurrency.

There are many options when it comes to securing your coins in an Ether wallet. From Ethereum wallet apps you can download, to hardware, we've compared them all for you right here.

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What should I look for in an cryptocurrency wallet?

The two main considerations when choosing an ETH wallet, are security and usability. Also, if you have other cryptocurrencies, you'll want to find a wallet that's compatible with both Ethereum and those alternative coins. Whatever you need in a wallet, you'll find it in our comparisons.

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Finding the Best Ethereum wallet in 2018.


What is an Ethereum wallet?

An Ethereum wallet is an address that holds your ether (the cryptocurrency used on the Ethereum network). In this way it’s like a bank account that holds your Ethereum. Wallets come in many forms, each offering distinct features. There are offline wallets such as paper and hardware wallets, mobile wallets that come with a downloadable app, and web-based wallets that are accessible via a web browser.

Why are they called wallets?

Just like a regular wallet that stores currency, an Ethereum ‘wallet’ stores cryptocurrency. It achieves this by recording movement of Ethereum on the blockchain, a public ledger. The wallet facilitates the sending and receiving of ether, and records all the ether you own. Think of it like an internet banking app, but one that also allows for offline storage.

How do they work?

Ethereum wallets are comprised of two ‘keys’: a public key and a private key. These keys function like your bank account details, allowing you to receive and send funds from your account. The public key, which is also known as the wallet address, is the address that allows other people to send Ethereum to your wallet, and can be equated to an account number. This address is publicly available, so anyone can view it.

On the other hand, the private key functions like your bank account PIN number. You will need it whenever you want to send Ethereum to another account. Just as the name implies, the private key is confidential and should only be known to the owner.

When sending Ethereum, it’s usually not necessary to know the private key or use it for any transactions. This is because web-based wallets and mobile wallets store the key on your behalf in an encrypted form, allowing you to send Ethereum to another public address. However, if you are using offline wallets, such as paper and hardware wallets, you will be responsible for keeping both the public and private keys to yourself.

Do I need a wallet in order to use Ethereum?

In most cases, yes. In order to hold ether, you’ll need to have a wallet to store the cryptocurrency. On the other hand, if you’re using CFD platforms to trade over the price of ether, you do not need one as these platforms give you the option of trading without taking ownership of the cryptocurrency. A wallet is only necessary if you want to buy, store, or use ether.

What kinds of Ethereum wallet are there?

There are five main types of Ethereum wallets that you can consider. Here’s a brief look into the differences between them:

  • Online wallet. Also known as a web-based wallet, this is a wallet that allows you to access your ether via a web browser. The private key is usually hosted by your provider, and they are solely responsible for its security. Good examples of web-based Ethereum wallets are MyEtherWallet or Coinbase.
  • Mobile wallet. This is similar to an online wallet, only that it’s stored on a native mobile phone application. Examples for mobile wallets include Jaxx, BRD, and Abra.
  • Desktop wallet. This is effectively a wallet that you can download and install on your PC. It stores the private key on your computer, giving you control of your funds and their security. Examples of good desktop wallets include Exodus, Mist, and Electrum.
  • Hardware wallet. This is an electronic device that’s specifically built to hold ether. It stores your private key completely offline, guaranteeing the maximum protection of your coins from online attacks. Some of the most widely-known manufacturers of these wallets include KeepKey, Trezor, and Ledger.
  • Paper wallet. This is basically a piece of paper with both the private and public keys of ether addresses printed on it. Just like the hardware wallet, it keeps the ether completely offline, making it a great choice for those looking to hold their coins for long-term. Some of the best places that allow you to create a paper wallet include ETHAdress and WalletGenerator.

What is a ‘cold wallet’?

A cold wallet is simply a wallet that keeps your private key offline. It’s not connected to the internet, so your funds cannot be accessed by cyber hackers and malware that’s developed to gain unauthorised access. This kind of a wallet is useful for those looking to hold their coins for the long-term.

How do I choose which wallet is right for me?

Well, it depends on what your intentions are. If you are looking to hold your coins for a long period, it is recommended that you get a secure offline wallet such as a hardware or paper wallet. On the other hand, if you intend to do daily trading or sell your ether regularly, a mobile or an online wallet is probably the way to go. So, evaluate your needs first, and then choose an option that’s not only convenient for you but also secure.

Are payments between wallets anonymous?

Absolutely. When you make a transfer to another wallet, what is displayed on the blockchain (public ledger) is the public key (wallet address). It’s not possible to trace this address back to the owner of the wallet.

How does a wallet keep my Ethereum secure?

In order to access your wallet and move ether, you will need a private key. The only available information on the blockchain will be your public address, which only allows people to send ether to your wallet. This makes it imperative that you keep your private key safe.

How much do Ethereum wallets cost?

Usually, nothing. Most online/desktop/phone wallets are completely free to use. You just need to create an account and start using right away. However, if you prefer to use a hardware wallet, you will have to spend between £20 and £200 on the device, depending on the features you are looking to have incorporated. In most cases, devices with more features, such as a hardware wallet with a display screen will be more expensive.

Should I use an Ethereum wallet?

Definitely. You will need to use a wallet for any Ethereum transactions apart from CFD trading. Depending on your goals, you might need to check between different Ethereum wallets for the best fit. If you want to trade or sell your coins on a regular basis, a mobile or online wallet would be a great choice. If you want to invest your ether for long term, you would be better off with offline wallets such as hardware and paper wallets.

Where can I get an Ethereum wallet?

Right here. Our reviews will help you find the best Ethereum wallet for your needs. We have all the information you need in order to find the best type of each wallet, coupled with instructions on how to build your own paper wallet. Have a browse through our guides to set yourself up within a matter of minutes.

Should I use an Ethereum wallet?


Advantages

  • Wallets make it possible for you to send or recieve ether instantly
  • You can often store multiple different cryptocurrencies in a single wallet
  • Wallets enable the ownership of ether
  • They allow you to track your Ethereum payment history

Drawbacks

  • If you forget your wallet details without backing them up, you'll lose your ether
  • Your ether is your responsibility

Your wallet options for storing Ethereum.


Whatever features you need in an Ethereum wallet, you'll find one to match in our comparisons below.

1
£90
BTC
ETH
LTC
XRP
DASH
BCH
KMD
  • Small design
  • Number of cryptocurrencies supported
  • Range of products
2
£75
BTC
ETH
LTC
XRP
BCH
  • Tamper-proof physical device
  • Cold storage wallet
  • Use mobile app to manage crypto
3
£2
BTC
ETH
LTC
BCH
  • Secure vault storage
  • Digital currencies covered by insurance
  • Manage your assets using a mobile app
4
£80
BTC
ETH
LTC
XRP
NEM
DASH
BCH
CRYPTO
  • Cold storage
  • Supports multiple cryptocurrencies
  • Various models available
5
-
BTC
ETH
LTC
  • DAPPs integration
  • Numerous app integrations
  • Option to handle your money
6
-
BTC
ETH
LTC
DASH
BCH
  • Multi-asset wallet
  • Beautiful design
  • Full control of your keys
7
£100
BTC
ETH
LTC
  • Support for erc-20 tokens
  • Virus and malware proof
  • Suitable with PC, Mac, Linux, and mobile
8
£69.53
BTC
ETH
LTC
  • Compact design
  • Easy to use
  • Maximum security
9
£2
BTC
ETH
NEM
DASH
  • Supports multiple cryptocurrencies
  • Easy to use and manage
  • Highly secure
10
-
BTC
ETH
LTC
XRP
  • Integrated with exchange and card
  • Can spend cryptocurrency in real world
  • Holds lots of crypto and fiat currencies
11
-
BTC
ETH
LTC
XRP
DASH
BCH
KMD
MIOTA
  • Easy and convenient
  • Many different cryptocurrencies
  • Can both buy and sell coins

Frequent questions.


How fast are transactions between Ethereum wallets?

Transactions between Ethereum wallets are executed instantly, but the verification process might take a bit of time. Depending on network traffic, the transaction could take 2 hours to process, but they usually complete within a few minutes time. The expediency of transactions on the Ethereum network is one of the reasons why Ethereum is popular, as transaction speeds on the Bitcoin blockchain are usually longer.

What are private and public keys?

Also referred to as a wallet address, a public key is essentially your account number (to use a banking example). You need it to make payments to another wallet. And as the name suggests, the key is viewable publicly and can be obtainable by anyone. A private key, on the other hand, is like a PIN number: it is the password required to access your funds and transfer ether out of a wallet. This key should be kept confidential (in cases where you are using paper or desktop wallets) as anyone with access to it can access your coins and transfer them.

If Ethereum is a digital currency, how can it be stored offline?

Great question. This is a little technical, and this goes back to the existence of digital currencies themselves. As they don’t physically exist like hard cash, digital currencies don’t have to be stored in the same way. Instead, their movement is recorded on the blockchain which proves who owns which coins. Additionally, the private key associated with cryptocurrencies can be stored anywhere. Private keys are very much similar to bank PINs, in that they allow for access to funds. If you are able to store the private key offline, access to the funds remain offline with you as well.

Can I have more than one wallet at a time?

Absolutely. You can register as many wallets as you want to. You can have any type of wallet, from an online wallet, to a mobile wallet, to a hardware wallet, to a paper wallet. Further, multiple wallets might allow you to transact more anonymously. Wallets might also help you fit different purposes, such as being able to use funds on an online wallet for trading, or keeping funds in a hardware wallet for long term storage. Moreover, it can be a good idea to spread your ether across multiple wallets depending on your needs. For example, if you want to trade your ether regularly you can keep your funds on an online or mobile wallet, and you can use a hardware or paper wallet to store your other funds offline long term.

Can I transfer from my Ethereum wallet to my bank account?

No, it’s not possible. You see, Ethereum wallets hold ether rather than regular (fiat) currency held by bank accounts, so you cannot transfer directly between them. What you can do is sell your ether on a platform such as Coinbase and transfer the money into your bank account. Services like Wirex are making this process easier by offering users Ethereum debit cards that are linked to a fiat currency and Ethereum account.

Should I get a hardware wallet or an online wallet?

Honestly, it depends on what you want to do. If you’re looking to trade coins regularly, then an online wallet is more convenient. If your goal is to store a long term investment of ether, you’re better off with a hardware wallet.

Do I need an Ethereum wallet to use an exchange?

Exchanges will usually have integrated wallets built into your account, allowing you to keep your coins in the exchange. You can have your personal wallet for you to transfer your coins over, but you don’t have to.

Can I link my Ethereum wallet with PayPal?

No. This is because your Ethereum wallet is designed to hold ether, whereas PayPal supports regular (fiat) currency. But there’s a way to go around it. You can sell your ether on an exchange and then transfer your funds into your PayPal account, as opposed to directly connect your wallet to it.

What connection do Ethereum wallets have to the blockchain?

The blockchain is simply a technology behind Ethereum transactions, recording the movement of coins. If you make a transfer from your wallet to another, the blockchain will show the transaction between the two wallet addresses, but not anything relating to the identity of the wallet owners.

What is a ‘recovery seed’?

This is basically a mnemonic phrase that allows you to restore your wallet if you lose it, usually consisting of 12,18, or 24 words. It’s recommended that you record this phrase on paper and keep it locked away in a safe place. This is because if you ever misplace or forget your wallet or its details, or - in the case of paper and hardware wallets - your wallet gets damaged, lost, or stolen, you can use the recovery seed to recover your ether onto a new wallet/device.

On a technical level, how do transactions work?

Think of internet banking. An Ethereum wallet comprises of a public and private key, which correspond to an account number and private PIN respectively. To access your own funds or ether, you will need the private key. However, when sending ether to another address, all that is necessary is the account number of another person, like when you send funds to a friend for the first time. When the transaction goes through, all that will be visible on the blockchain is both the incoming and outgoing wallet’s public addresses. Ultimately, funds will be deducted from your wallet address.

Do I need a wallet to mine Ethereum?

Yes. In order to receive your block rewards and transaction fees generated through mining, you will need to have a wallet. A cloud mining account may have an integrated wallet where your coins will be sent to, but eventually you will need to have your own wallet to transfer your funds into.

What is a deterministic wallet?

This is effectively a wallet that can generate multiple different keys from a single ‘seed’ for the purpose of backing up your wallet to recover funds at a later date, so long as you have the recovery passphrase saved. These wallets also carry additional strong security features, making general storage of ether less of a worry.

Can I connect my wallet to an Ethereum debit card?

No, this isn’t possible yet, but will likely exist very soon. Currently, Ethereum debit cards work by linking to an account which you load with ether. You can find out more about Ethereum debit cards and how they work in our guide.

Are transactions between wallets irreversible?

Yes. You can’t possibly reverse a transaction after it’s initiated on the Ethereum network. If you’re making a payment using ether, make 100% sure you’re sending it to the right wallet address.

Can wallets be hacked?

Ethereum wallets cannot be ‘hacked’ in the sense of forceful entry into the wallet. The private keys, which allow transfer of coins, are impossible to guess because they comprise of a long tail code, unlike regular passwords. What hackers try to do is acquire your private key/password and target exchanges to try and acquire user’s details. Always make sure you’re using a reputable exchange with solid security features to keep your online funds safe. If you have stored your private keys offline, you do not have to worry at all.

What if I lose my wallet or forget the details?

This could be a grave issue. If you are using a mobile or online wallet, there’s usually a way you can regain access to your wallet, likely through a recovery process. Some providers allow you to reset your password through the registered email address. However, this is usually not the case with ‘cold wallets’. If you lose a hardware wallet or damage your paper address, there’s no way to gain access to your wallet, unless you recorded a recovery seed. This is a phrase that allows you to restore your wallet in the future if you lose it. It’s always best to write this down and keep it locked away in a safe place.

Do I have to pay tax on the ether in my wallet?

In the UK, if you earn profits from trading with ether, you are technically required to declare it as a taxable profit under capital gains, so long as you make a profit above £11,700. Otherwise, profits are tax free. However, if you are located within another country, you should look at your local legislation as the tax status of cryptocurrencies might be different.

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