The best Ethereum wallet is the one that works for you. It all depends on what you need it for. For example, if you plan to store a large amount of Ether, then it’s better to use a hardware wallet. If you just want to store some tokens and send or receive transactions, then a mobile wallet will be enough.
Some wallets have built-in exchanges and allow users to trade in crypto-to-crypto or crypto-to-fiat pairs. Other wallets can only be used for storing and transferring coins without being able to trade them.
Choosing the most appropriate wallet is not an easy task because there are so many options available on the market today. By researching different wallets, reading reviews, and comparing their features – you can find out which one suits your needs best.
Main types of wallets:
- Cold storage wallet: Coins are only stored on a computer that is never connected to the internet, in order to avoid getting hacked or confiscated. Examples are paper wallets and hardware wallets.
- Online wallet: This type of wallet stores your coins on a third party website that features a secure login, which helps you keep your coins private and secure. Examples are Coinbase and Blockchain.
- Private key: This type of wallet is a more personal, non-custodial type of wallet which means that the coins are controlled by you and only you. Examples are Jaxx, Exodus, and MyEtherWallet.
Different wallets have different features. Some wallets are best for storing a large number of coins, while others are best for storing one or two types of coins. Some wallets are great for beginners, but not as good for experienced cryptocurrency users.
The most important thing to consider when choosing an Ethereum wallet is what you want to do with it.