Ethereum is among the world’s most widely traded cryptocurrencies and has the second largest market cap after Bitcoin. But holding on to or selling/buying ETH requires you to find a wallet secure enough and suits your needs.
Here are some of the factors that you should look out for –
1. Supports multiple currencies – Your wallet should be able to store and support multiple cryptocurrencies so that it makes cryptocoin exchange a breeze.
2. Safe and secure – This probably goes without saying but your wallet has to be extremely secure to prevent your holdings from being hacked.
3. Easy to operate – Some wallets sacrifice convenience for advanced features which is fine for advanced traders but for beginners, the wallet must be easy to operate or have two different modes.
Based on these metrics, let’s find out which is the best Ethereum wallet for you –
1. Uphold – Best support for both crypto and fiat currencies
If you are someone looking for a wallet that supports both fiat and crypto, look no further. Uphold even supports some precious metals.
Pros
- Supports over 30 currencies including crypto and fiat
- Very easy to use making a good choice for beginners
- Mobile apps make it easy to trade on the go
- Supports 2 factor authentication making it extremely secure
- Sending funds to other Uphold users is extremely simple.
Cons
- Buying or converting currencies costs a conversion fee
- It doesn’t support as many currencies as other wallets do
2. Atomic Wallet – Best Desktop Wallet for anonymity
A secure, decentralized desktop wallet built with anonymity perfectly sums up the Atomic wallet. The wallet is a PC application that stores all your private keys on the device in an encrypted form. The wallet also has its own native coin called Atomic Wallet Coin token that allows users to rise higher in the atomic swap queue or pay listing fees to have their own token supported by the Atomic wallet.
Pros
- Simple and user-friendly making it a good choice for beginners
- Supports atomic swaps and a wide range of cryptocurrency
- It doesn’t store your private keys or any vital data
Cons
- You are responsible for the security of your wallet
- It is your responsibility to keep your password and backup phrase safe.
3. Coinbase – Best overall platform
Coinbase is both a cryptocurrency trading platform as well as a wallet making it a great investment overall.
Pros
- High liquidity
- Access to all the popular crypto assets
- Beginner friendly
- Offers insurance
Cons
- You can only use your credit or debit card to pay
- All accounts are monitored
4. MyEtherWallet – Best open source tool
MEW is a free and open source tool that allows you to create wallets that are compatible with the Ethereum platform. If you are planning to perform an ETH to USDT exchange, MyEtherWallet is the right platform for you as it supports both Ethereum and USDT.
Pros
- Easy, free and open source
- Includes tutorials and documentation
- Doesn’t store your password or private keys
- Compatible with tons of hardware wallets
- Supports offline transactions.
Cons
- Users have been the target of several phishing attacks and hackers
