What Is The Best Ethereum Wallet To Store Ether In 2018
Discover The Article
- 1 What to Look For In an Best Ethereum Wallets
- 2 Now, Here Are the Best Hardware Wallet Ethereum For 2018
- 3 Winding Up On the Best Hardware Wallet Ethereum For 2018
Ethereum is the most popular Blockchain, only second to bitcoin. The cryptocurrency’s value has continued to surge in the past few months. Its price was 8.5 dollars at the beginning of 2017. Today, ethereum is selling at more than 500 dollars. The price improvement is widespread among all the cryptocurrencies, and; this has made millions of people across the world to adopt the technology. In fact, there has been a more significant number of people buying into ethereum in the last twelve months than in the past few years.
Market pundits predict that the prices of the ethereum could continue to rise. Although the prices are largely versatile and controlled by dynamic market forces, ethereum is expected to increase in value. And, optimists have gone ahead to buy the cryptocurrency as they believe it is has a better future.
The increased number of ETH users makes secure hardware ethereum wallet necessary. No one wants to be left behind. At least, everyone wants to find value for their money, and; to ensure that the ethereum they invest is safe. So, in this post, I’m going to guide you through finding the best hardware wallet ethereum for 2018. Several companies offer wallet services, so; be sure to pick what best works for you!
What to Look For In an Best Ethereum Wallets
Are you planning to buy ethereum? If yes, then you should have a wallet ready. And, this means that you must know how to choose one. A wallet is not necessarily your source of ETH. Instead, it acts like the ordinary money leather purse. It helps you to spend your ethereum on demand. Also, it enables you to ensure that the cryptocurrency is safe.
Now, why do you need to keep the ethereum safe? Well, there are many reasons for this. Some of them are logical. For instance, you have earned it hard, and you should not be ready to lose it easily.
Technical reasons include hacking. Well, Blockchain is virtually unhackable, and; it does not allow anyone to infiltrate any malicious spy code or alter the transactions. This, however, does not mean that a dedicated and diligent hacker won’t find his way. If they use social engineering tactics, hackers might easily get access to your electronic money.
To ensure you are safe, therefore, you need to look for the wallet that is secure and infiltration-proof. For instance, a wallet should have a two-step authentication method. This ensures that no one can get hold of your hard-earned ethereums just because they have one of your devices or wallet passwords.
Noteworthy, a cold wallet is more secure than a hot wallet. A hot wallet is one used to transact in minute figures. It is connected to the internet hence the name ‘hot.’ The fact that it is connected to the internet means it is not ideal to for whales and HODLers. Well, they can use it to buy or make transactions that involve few coins. But, the fact that the wallet has internet connection makes it a little vulnerable to cyber-crime.
So, whenever you want to choose a good hot wallet, you should consider its security level. Apart from the authentication factors, the wallet should possess an intuitive interface. Also, it should be affordable and easy to use.
The cold wallet is not connected to the internet, and this makes it unideal for small transactions. It comes in the form of a hardware device. The majority look like a USB flash disk device. They have no internet connection, and this makes them safer.
Now, Here Are the Best Hardware Wallet Ethereum For 2018
Choosing a powerful hardware wallet means you must go for durability and ease of use. Also, remember to make sure that the device has other security features such as offline seed storage. The best ethereum wallets is compatible with the device and operating system of your choice. The provider should have an active customer support, too.
Cold ETH Hardware Wallet
This is a physical device used for cold ETH storage. Below, we review the best hardware wallet ethereum for 2018.
Ledger Nano S
If you love the flexibility in the management of your ETH, then you should try the Nano S. It gives you software with your preferred interface. You can download and install the Ledger apps from their website or the Google Chrome applications menu.
Well, the Nano S hardware wallet ethereum is compatible to the Windows 7 and later versions as well as Mac OS X 10.8 and later versions. Many people prefer the Ledger Ethereum Wallet via the Chrome extensions, but after they get oriented, they start finding the MyEtherWallet (MEW) integration interface friendly.
MyEtherWallet is the desktop version of the Ledger Nano S ethereum wallet. It allows users to send and receive ETH without necessarily controlling their private keys. When you log onto the website, it will let you choose whether to generate a wallet, send or receive ETH.
MyEtherWallet also supports the receipt of ERC20 tokens airdropped via smart contracts for anyone who participates in ICOs. Noteworthy, Mycelium and Electrum are popular software-based wallets that have the android smartphone integration feature, but; they would still need to work with the reinforcement of the Ledger Nano S hardware wallet.
Remember to use an approved wallet whenever you are dealing with an ICO. If the Initial Coin Offering is legit, then they will freely let you access information about where and how to send ETH to redeem your accrued tokens.
- Easy to use
- Reliable altcoin support
- Built-in screen
- Shipping not free
- Five coin/token limit per device
- Supports only one desktop wallet at a time
Trezor Hardware Wallet
From the famous bitcoin hardware wallet, TREZOR comes the ETH version. It has incredible features that are close to those of the Ledger Nano S. The two are secure, and they give control to the user. Trezor was the first bitcoin hardware wallet, but; today, Trezor Hardware Wallet supports Ethereum, too.
In fact, the Trezor wallets support other altcoins such as Dashcoin and Litecoin among others. If you need a web view of your coins, you can use MyEtherWalet which allows you to use an intuitive interface to manage your digital currency.
The Trezor hardware wallet ethereum is durable, water resistant and light. It is also portable and elegant. You can choose to have the white, Gray or the black purse. The built-in display allows you to have a look at the transactions you have made recently.
- Built-in screen
- Intuitive web interface
- Compatible with Windows and Mac
- Password manager
- Durable and water resistant
- ERC-20 token supported via MEW
- More expensive than Ledger Nano S
- No Ripple XRP support
One of the newest and best hardware ethereum wallets is KeepKey. The ShapeShift asset exchange has acquired it. This is advantageous to the wallet as it allows users to exchange different digital currencies directly on the same device. This feature is a game changer as it also allows the transfer of ethereum from a hardware wallet to an exchange platform and convert it to other altcoins.
Well, it can be a little tiresome to move coins from one hardware to another or to exchange them with altcoins directly from a cold wallet, but; KeepKey makes it easy by integrating the exchange to the device. This process rids of the need for a third party, and this improves the security. But, you may find a problem with the conversion fees. It’s cheaper doing the conversion at the exchange, but you will have to be ready to bear the risk.
The KeepKey Ether wallet has a readable and appropriate screen size. You may need this whenever you are choosing a hardware wallet. You see, its screen is larger than that of the Ledger Nano S. This makes it easy to monitor the transactions.
- Easy to read
- Virus and malware proof
- Supports altcoin
- Minimized exchange risk
The Desktop Option- Software Ethereum Wallet
The desktop variety of hardware wallets has a web interface that allows you to see your transactions directly from your screen. No doubt, the majority are hot wallets connected to the internet. Find the best below!
If you are looking for a hot desktop ethereum wallet with a cute intuitive interface, then you should consider having Exodus. Well, it supports bitcoin and altcoins, and you can definitely use it for Ether! It’s one of the best desktop or software ethereum wallets so far. Only half of the code is open source. This means that the community does not get to review the whole system. This is one of the security features!
There is no mobile version for the Exodus wallet yet. But, the desktop version is independent and stores your private key on your own device and not on their servers. This gives you the whole responsibility and control of your coins.
When using Exodus, you can receive or transact in Dash, bitcoin, ethereum, dogecoin, and litecoin. All you need is go to the Wallet option and choose the cryptocurrency you need. Then, click on receive to see your ETH address.
Jaxx is one of the most formidable wallets for ETH, bitcoin and other altcoins. It works across all the devices including the mobile and PC. The interface is simplistic and intuitive. Among the most outstanding features of the Jaxx wallet is that it supports ETH and ETC.
Your private keys never get to the Jaxx’s external servers because they are stored on your own device. The wallet is not open source, although the code is available on the official website. So, you can review it if you need to.
To use Jaxx as an ethereum wallet, you only need to configure the installation settings to accommodate ETH as your preferred currency.
My Ether Wallet
If you have a cold hardware wallet ethereum, you may as well need a web interface to help you monitor transactions. MyEtherWallet is one of the finest wallets to use in such a case. It allows you to transact in Ethereum without necessarily taking control of your private keys.
When you land on the MyEtherWallet website, you can choose whether to generate a wallet, send ETH or perform other options. If you decide to create a wallet, then the site will create a public-private key that will stay safe using the password that you choose.
A downloadable file will be available for your future use. When you need to send ETH, this data will be crucial as the transaction will only work if you upload the file to the site. Using the password, you can send or receive ETH on the website. But, you still have the choice of doing it directly using Trezor or Ledger. Noteworthy, MyEtherWallet is open source and supports ETH only.
Ethereum Paper Wallet- ETH Address
Are you a fan of storing digital coins offline? Well, if you have used the BitAddress.Org, then you might understand this. ETHAddress lets you store your Ethereum in a paper wallet. So, instead of keeping your private keys on a hardware wallet, you have it written on a printable paper. The ETHAddress site prints out the information in a secure place in such a way that no hacker can get hold of your Ethers.
It also gives you the option of encrypting the private key to ensure that no one will decrypt it without your unique password. Of course, this makes the password and secret key paramount. You should never let anyone else see it. Anyone with the private key has control over the coins in the wallet- it’s that serious!
ETHAddress is a relatively safe method of storing your precious Ethers. But, you can only use it for ETH (and not ETC). When sending coins, you should import keys into an online wallet such as Exodus or Jaxx. The hot online wallet allows you to transact in the ethers.
Winding Up On the Best Hardware Wallet Ethereum For 2018
Ethereum is a fast-growing cryptocurrency only second to bitcoin. But, it is still lagging behind the king of digital currencies. This is the reason there aren’t many wallets that support ETH. But, with the increased value of ethereum, many people are expected to start using the cryptocurrency and possibly, developers will come up with (more) better wallets than those in use already.
Well, if you check well, you may note that we’ve not included BitPanda, Cex.io as formidable wallets. These are Ethereum exchange platforms, and we wouldn’t confidently propose that you use them as wallets.
If you have used Best Ethereum Wallets wallet that we’ve not covered in this post, it’d be a pleasure if you mention it in the comment section below. Here we go!