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Best Ethereum Wallet: Which is the Safest?

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Nobody wants to be hacked. If you’re an Ethereum investor, given the importance of your digital assets, you probably want to find the best Ethereum wallet available.

But what is the best and safest Ethereum wallet available?

Let’s explore. In this article, I’ll tell you what I like (and don’t like) about 7 of the best Ethereum wallets out there. Depending on what you value, there’s something for everyone in this list. (Need more basics on crypto wallets? Scroll to the bottom of the post.)

What’s the Best Ethereum Wallet in 2024?

The bottom line: SecuX is my favorite all-around Ethereum wallet. This award-winning Taiwanese blockchain security company has been active since 2018 and boasts many cold storage options.

As the world’s first cross-platform crypto wallet, SecuX is a pioneer in the cold storage space, making it one of the best Ethereum wallets available today.

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7 Top Ethereum Wallets — Safest Wallets in 2024

1. SecuX – Best All-Around Ethereum Wallet

  • Price: Range from $39 to $332.31
  • Type of wallet: Cold wallet
  • Availability: Worldwide
  • Experience level: Beginner
  • Coins supported: Over 1,000 coins supported
  • Security features: Secure element chips, offline storage, PIN code, 2-factor authentication, passphrase support, and firmware updates
  • Supported interface(s): USB, Bluetooth
  • Customer support: SecuX is known for responsive customers service

SecuX is a leader in cryptocurrency security, having been crowned the “Most Innovative Blockchain Security Company 2021” and “Most Secure Vault Protection Hardware Wallet: SecuX V20.” With a proven track record and numerous supported coins, SecuX is one of the best Ethereum wallets.

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Pros
Cons
Unparalleled security
Some models are pricier than some competitors
Cross-platform compatibility (iOS, Android, Linux, Windows, MacOS)
Some users find the hardware is bulkier than some alternatives
Broad digital coin support
User-friendly interface
Durable (SecuX V20 is a diamond-shaped aluminum frame)

2. CoolWallet – Best for Simplicity

  • Price: $99
  • Type of wallet: Cold wallet
  • Availability: Worldwide
  • Experience level: Suitable for all user types, from beginner to advanced
  • Coins supported: Wide range of supported coins, like Ethereum, Bitcoin, and Ripple
  • Security features: Secure element technology, two-factor authentication, biometric authentication (fingerprint or face ID), and private key encryption
  • Supported interface(s): Can be accessed using a mobile app on iOS and Android devices using Bluetooth
  • Customer support: Email, online documentation, and support ticket system available for customers

CoolWallet stands out as a no-frills, simple, and user-friendly Ethereum wallet that is great for beginners and advanced users alike. With biometric identification, Bluetooth connectivity, and a broad spectrum of supported digital coins, it’s easily one of the top Ethereum wallets.

Image8
Pros
Cons
Portable: small credit-card-sized device
Depends on a smartphone
Simple and user-friendly
Limited storage capacity versus alternatives
Bluetooth connectivity

3. MetaMask – Best for Beginners

  • Price: Free to use, but additional fees apply to use certain services on the platform.
  • Type of wallet: Hot wallet
  • Availability: Worldwide
  • Experience level: The user-friendly interface makes MetaMask an excellent solution for beginners
  • Coins supported: Primarily Ethereum
  • Security features: Generates and manages secure private keys locally and encrypts sensitive user data
  • Supported interface(s): Accessed via a browser extension for Chrome, Firefox, Brave, and Edge or via an app on iOS and Android
  • Customer support: Community forum, FAQs, and social media

MetaMask shines in its ability to simplify the often complex blockchain technology. Its exceptional interface helps new users avoid frustration and use their wallets quickly. Its robust security measures also make MetaMask an excellent option for users looking for top-notch asset safety.

Image4
Pros
Cons
User-friendly, great for beginners
Limited to the Ethereum ecosystem
Convenient: can be accessed via a web browser
Integration with numerous Ethereum-based dApps without running a full Ethereum node

4. Trust Wallet – Best for Versatility  

  • Price: Free to use, though fees may apply for certain in-app transactions
  • Type of wallet: Hot wallet
  • Availability: Worldwide, though certain features may be limited in certain jurisdictions
  • Experience level: Great for beginners, but also includes features suitable for advanced users.
  • Coins supported: Supports a wide range of coins, including Ethereum and Bitcoin.
  • Security features: Includes pin codes, biometric authentication, and backup facility for easy recovery
  • Supported interface(s): Mobile-based wallet that works with Android and iOS.
  • Customer support: Help center with articles and guides, community forums, email help, and social media assistance.

As a non-custodial wallet, users of Trust Wallet maintain complete control of their funds, with private keys exclusively stored on a user’s device. Trust Wallet is a versatile platform that even permits users to stake certain cryptocurrencies directly within the wallet itself.

Image6
Pros
Cons
Support for a wide variety of cryptocurrencies
Lacking any substantial customer support
Ability to stake cryptocurrencies directly in the wallet
Built-in DApp browser: Web3 browser gives users the ability to interact directly with DApps from the app

5. Myetherwallet (MEW) – Best for Smart Contracts

  • Price: Free to use, though fees may apply for certain transactions
  • Type of wallet: Hot wallet
  • Availability: Worldwide
  • Experience level: Intermediate to advanced
  • Coins supported: Primarily Ethereum and ERC-20 tokens
  • Security features: Allows users to generate and control their private keys and offers two-factor authentification
  • Supported interface(s): Web browser and mobile app (iOS and Android)
  • Customer support: Customer support is predominantly in the form of documentation. They also have an active community forum.

MyEtherWallet is an Ethereum-focused platform that excels at producing smart contracts. MEW enjoys extensive support for Ethereum and a broad range of ERC-20 tokens, making the platform an excellent choice for users looking to engage in ICOs and decentralized finance (DeFi).

Image5
Pros
Cons
Support for Ethereum and a wide range of ERC-20 tokens
No direct customer support services
Control over private keys
Not suitable for beginners. Requires knowledge of interacting with the Ethereum network.
Compatible with multiple popular hardware wallets

6. Trezor – Best Budget Hardware Wallet

  • Price: $69 for the Model One and $219 for the Model T
  • Type of wallet: Cold storage
  • Availability: Worldwide
  • Experience level: Beginners will appreciate the simple user interface of what I consider the best Ethereum hardware wallet. Not only that, savvy users will value the advanced features, like the ability to connect with third-party wallet interfaces.
  • Coins supported: Ethereum, Bitcoin, Litecoin, and numerous ERC-20 tokens, among others.
  • Security features: PIN protection and passphrase protection
  • Supported interface(s): Trezor suite software works on Windows, Mac, and Linux operating systems.
  • Customer support: Online knowledge base, user community support, and email support.

The Trezor Model One offers one of the best-value Ethereum wallets you can buy. While beginners will appreciate the simple user interface, more seasoned users can use more advanced functionality.

Its exceptional security and novel features, like the ability to integrate with third-party wallet interfaces, rank Trezor devices as my favorite budget hardware wallet.

Image1
Pros
Cons
Secure: Private keys remain offline and off the internet. Trezor also requires PIN access and offers users optional passphrases.
Email support response time can be slow.
Recovery options using Trezor’s recovery seed.
Limited coin support.
Transparent, open-source, community audited.
Dependent on a computer or another device with a USB port.

7. Safe (Previously Gnosis Safe) – Best Multi-Sig Ethereum Wallet

  • Price: Free to download and install, but requires a small 0.005 ETH deployment fee
  • Type of wallet: Hot wallet
  • Availability: Worldwide
  • Experience level: Best suited for more advanced users
  • Coins supported: ETH, ERC20, ERC721, and ERC1155 tokens
  • Security features: Multisig functionality, spending limits, and the option to manage access rights. It’s hands down one of the safest Ethereum wallets available.
  • Supported interface(s): A web browser and Android and iOS app
  • Customer support: Email and social media customer outreach, guides, and resources on their website.

Safe (previously known as Gnosis Safe) is a multisig crypto wallet that allows users to protect their assets with up to three signatures.

This feature makes Safe an excellent choice for organizations, ensuring multiple parties sign off on crypto transactions. In my opinion, Safe is the best crypto wallet for Ethereum security, because of this unique feature.

Image7
Pros
Cons
Multisig provides users added protection should their private key be compromised.
Added security features add to the complexity of the platform, making it a better option for more advanced users.
It provides users the ability to interact directly with Ethereum smart contracts.
Transaction costs can be higher to facilitate multisig transactions,
Broad Ethereum support, including Ether (ETH) and any ERC20, ERC721, and ERC1155 tokens.

Hot vs. Cold Wallets: What’s the Difference?

Hot Wallets
Cold Wallets
Connection
Hot wallets are connected to the internet, allowing users to quickly and easily transact with their funds. This makes them more suitable for daily use.
Cold wallets are not connected to the internet. Cold wallets act as an offline store for a user’s private key.
Accessibility
With proper credentials and an internet connection, hot wallets can be accessed worldwide.
Since cold wallets are offline, they are less convenient to access on the fly.
Vulnerability
The convenience of a constant internet connection makes hot wallets more vulnerable to theft, hacking, and cyber attacks.
Can’t be hacked. Theft would require someone to access the cold wallet physically. However, you could lose the wallet.

Top Ethereum Wallets: Key Criteria

  • Security: When selecting an Ethereum wallet, security should be the highest priority. Features like robust encryption and two-factor authentication help protect your assets from hackers and theft. For many people, identifying the safest Ethereum wallet will be the top priority.
  • Compatibility: It’s crucial to ensure the Ethereum wallet you choose works with your devices and operating systems, like Linux, iOS, Windows, or Android.
  • Ease of Use: Some Ethereum wallets are more complex than others. If you’re new to crypto wallets, simpler interfaces are likely more suitable. For others, wallets with advanced features may be desirable.
  • Customer Support: Not all wallet platforms offer direct customer service. If this is important to you, ensuring this feature is present before committing to a wallet is critical.
  • Cost: Many hot wallets are free to use but may come with added fees for certain transactions. Most cold wallets typically require an upfront cost to purchase the hardware.
  • Privacy: For some users, privacy is paramount. If that’s you, consider choosing a wallet with enhanced privacy features, like coin mixing.
  • Community Support: Active communities can provide valuable assistance when questions or issues arise.

Types of Ethereum Wallets

  • Desktop Wallets: These wallets are downloaded on your desktop, like Windows or iOS.
  • Hardware Wallets: These wallets are physical devices that store private keys. Hardware wallets are considered cold storage since private keys are kept offline.
  • Paper Wallets: Paper wallets are physical documents that record your private and public keys. Like hardware wallets, paper wallets are considered cold storage.
  • Web Wallets: These wallets use web browsers to obtain access to your assets.
  • Mobile Wallets: Mobile wallets leverage your mobile device – like a smartphone or tablet – to access your crypto assets. Mobile wallets are one of the most convenient ways to access and manage your cryptocurrency.

Final Word: Best Crypto Wallet for Ethereum

While I stand by all the wallets listed above, the particular wallet suited for you will depend on your preferences and needs.

Regardless of the platform or hardware you choose, it’s prudent to vet the offering and ensure it meets your needs. Consider the security protocols, accessibility, and cost, among other items, before committing to secure storage for your assets.


FAQs:

Are Ethereum wallets free?

Most Ethereum software wallets (hot wallets) are free to use, though there may be fees associated with transactions. Most hardware wallets (cold wallets) require a one-time purchase to obtain the physical storage device.

Where is the safest place to keep ETH?

The safest place to keep ETH is cold storage hardware wallets that are kept offline.

Who are the top 1 Ethereum holders?

One of the founders of Ethereum, Vitalik Buterin, is the largest holder, with over 240,000 ETH registered at his address.

Is MetaMask a good Ethereum wallet?

Yes, MetaMask is one of the most popular Ethereum wallets, recognized for its user-friendly interface and integration with DApps.

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About the author

Jesse Oberoi

Contributor

Jesse has worked in the finance industry for over 15 years, including a tenure as a trader and product manager responsible for a flagship suite of multi-billion-dollar funds. Jesse has held the CFA charter since 2017.