7 Best Ethereum Wallets of 2022 (Ranked and Compared)

7 Best Ethereum Wallets of 2022 (Ranked and Compared)

With the advancement of cryptocurrencies, there has been a rise in the demand for digital wallets to store these currencies.

While most exchanges and trading platforms offer their own wallets, there are also standalone ones that you can use to store your Ethereum.

Using a platform-based or a standalone wallet both offer their pros and cons, and it’s essential to know which one will work best for you before making a final decision.

Some platforms will also offer NFT wallets, so if you’re looking to buy NFTs, you might as well hit two birds with one stone and store all your crypto and NFTs in the same place.

In this article, I will review the best Ethereum wallets so that you can make an informed decision on which one is best for you to use.

Let’s get right into it.

What Are The Best Ethereum Wallets?

The following are some of the best Ethereum wallets currently available.

1. Trezor One.

Best Overall Ethereum Wallet.

trezor one homepage

Trezor One offers a safe place to store your Ethereum, as it is one of the most popular and well-recognized hardware wallets around.

It is also one of the most affordable options, making it great for beginners just starting out with cryptocurrencies.

Securing your digital assets is easier than ever with Trezor One – this product has been audited by security researchers and trusted by millions of people worldwide.

With 5-star customer support, you can get timely help if you ever need it.

If you want to go secure and offline with your Ethereum, the Trezor One is a great option.

Key Features:

trezor features
  • Easy-to-use, ready within 10 minutes so you can get started right away.
  • Manage your entire digital identity, including passwords and credit cards.
  • Advanced features for expert users mean that you have everything you need at your fingertips.
  • A community of satisfied users suggests that you’re not alone if you ever need help.

Pricing:

Trezor pricing

The Trezor Model One costs $70.

Updates:

  •  Trezor Suite is more accessible and easy to use so more people can use this device.
  •  EIP-712 is now supported for the Trezor Model One meaning that there is improved usability of off-chain messages.
  • The new Early Access program is open, so those that want to test beta features can do so.

Get started with Trezor One.

2. Coinbase.

Best For Combining Buying And Storing Ethereum.

coinbase wallet

Coinbase is well-known for being one of the most popular cryptocurrency exchanges for buying and selling cryptocurrencies.

However, they also offer a wallet that you can use to store your Ethereum.

The Coinbase wallet is excellent for those starting out with cryptocurrencies, as it is easy to use and understand.

You can store all of your crypto and NFTs in the same place, making it a convenient option.

Coinbase is also one of the most regulated exchanges globally, so you can be sure that your funds are safe.

With thousands of supported tokens, you can store any Ethereum-based token in your Coinbase wallet.

Key Features:

coinbase features
  • Control your crypto with Coinbase self-custody crypto wallet, so you’re always in charge.
  • Store your NFTs in one place and safely access them from anywhere.
  • The Coinbase Wallet is a regulated and insured crypto wallet that gives you industry-leading security features to protect your Ethereum, Bitcoin (BTC), Litecoin (LTC), Ripple (XRP), and other digital assets.
  • Support for buying crypto with credit or debit cards in over 90 countries means that you can quickly and securely fund your wallet.

Pricing:

coinbase chrome extension

You can download the Coinbase Wallet as an extension for your Chrome browser to get started.

Get started with Coinbase.

3. Enjin Wallet.

Best For Having Multiple Wallets.

enjin homepage

With Enjin Wallet, you can create as many wallets as you need – one for each Ether-based token you own.

This is also an excellent option for those who want to store their NFTs in one place, as it offers support for over 1,000 different tokens.

You could even have wallets for various expenses, such as one for rent and one for food, making tracking your payments more manageable.

Enjin Wallet also offers excellent security features, including fingerprint login and two-factor authentication.

If you want to exchange and access thousands of available token pairs, this is also a possibility.

Moreover, you can take part in any DApp or Defi swap directly through an Android device, so if this is something you’re looking for, then the Enjin wallet is a great choice.

Key Features:

enjin features
  • Fingerprint scanning means that you’re the only person who can access your funds.
  • Auto-adding tokens make it easy to store all of your tokens in one place.
  • Custom fees & limits let you set the amounts that work best for you.
  • Local currency lets you see your balance in your local currency.
  • Multilingual support means that the Enjin Wallet is available in multiple languages worldwide.
  • You’ll also receive a free NFT via QR code when you get started.

Updates:

  • More than 8.5 million blockchain assets were minted since the start of them giving free NFT transactions.
  • Their userbase has more than doubled in size in a few months
  • They also got into industries such as virtual worlds, health and wellness as well as professional dancers.

Pricing

Enjin pricing

You can get started by downloading the Enjin app on the Google Playstore or Apple Store.

Get started with Enjin Wallet.

4. Ledger Nano S.

Best Standalone Wallet.

ledger homepage

The Ledger Nano S is a great option if you want to reclaim power over your digital assets and enjoy a highly secure wallet.

It offers great security features compared to other wallets on the market, making it an excellent choice for those who want to feel safe and in control of their funds.

The Ledger Nano S also has a built-in display to quickly check your balance or make transactions without relying on your phone or computer.

The Ledger Nano S and the Ledger Live app combine to provide maximum security and control over your digital possessions.

You can also install a few applications on your device, giving you more features and options for your Ethereum.

Key Features:

ledger features
  • With the Ledger Nano S, you can manage all your crypto assets in one place. You can easily send and receive payments, check your balance, and monitor your transactions.
  • The Ledger Nano S supports over 5,500 digital assets, making it the perfect wallet for those who want to store various assets in one place.
  • It also provides a smoother user experience than other Ethereum wallets with its large screen.
  • Install applications on your device to get the most out of your hardware wallet.

Pricing:

ledger nano s pricing

The price for the Ledger Nano S starts from $59. There are other models on their site that you can consider.

Updates:

  • Easier onboarding has been their main focus so new users can get used to the device and Ledger Live.
  • More Control Center features mean that you can manage your device and digital assets with more precision.
  • Support for ETH 2.0 and other Ethereum protocols means that you can use your Ledger Nano S with the latest Ethereum developments.

Get started with Ledger Nano S.

5. AlphaWallet.

Best Web3 Custodial Wallet.

alphawallet homepage

AlphaWallet is known as the ultimate Web3 Wallet to use.

Being a self-custodial wallet gives you the power to control your own private keys and interact with decentralized applications (DApps) directly from within the wallet.

It’s also 100% open source, so the community can add various features as time goes by.

AlphaWallet also supports multiple tokens and has a user-friendly interface, making it perfect for those new to Ethereum.

Web3 engineers are responsible for building this device, ensuring the highest quality and security were implemented when making this device.

One significant aspect of AlphaWallet is that you can interact and use various token features without the extra step of connecting with your desktop using third-party apps.

This limits the amount of risk per transaction.

At the same time, there’s still a focus on being user-friendly and giving users a native-like experience with DApps.

As such, AlphaWallet is quickly becoming one of the most popular Ethereum wallets around.

Key Features:

alphawallet features
  • Send ETH with MagicLink, making the whole process of sharing your ETH address much more accessible.
  • Easily receive ETH with your Ethereum address, making it straightforward to get payments from others.
  • Buy, sell and exchange ETH with the Dapp browser, giving you all the tools you need to manage your ETH holdings in one place.
  • Connect with Dapps through WalletConnect, allowing you to use your favorite Ethereum applications without having to leave the comfort of your AlphaWallet.
  • Control your gas fee and speed up your transactions by setting the correct values.
  • Secure Enclave keeps your ETH safe and protected from potential attacks.
  • No KYC or personal data is collected by AlphaWallet, ensuring that your privacy is continually respected.

Pricing:

alphrawallet ethereum wallet app

Download the AlphaWallet Ethereum Wallet App on the Apple Store or Google Playstore to get started.

Get started with Alpha Wallet.

6. Trust Wallet.

Best For Buying Ethereum With A Credit Card.

trustwallet homepage

Trust Wallet is another secure and well-very trusted Ethereum wallet perfect for those who want to store their funds safely.

With more than 25 million people using Trust Wallet, it is one of the most popular Ethereum wallets available today.

It also allows the buying of crypto using a credit card, so it’s perfect for those just starting out in the world of Ethereum.

With no selfies to take and no forms to fill in, Trust Wallet is perfect for those who want a quick and easy way to get started with Ethereum.

You can also use all the top decentralized apps from within the wallet, making it an excellent choice for those who want to use DApps.

Key Features:

trustwallet features
  • Buy Ethereum in under five minutes with a straightforward process.
  • Easily earn interest on the crypto in your wallet and see your collectibles in one place.
  • Exchange your crypto without leaving the app and track charts and prices within the app.
  • Keep your crypto safe from hackers & scammers with Trust Wallet’s advanced security features.
  • Follow their simple three-step process to get started.

Pricing:

trustwallet app

As with many other wallets, you’ll have to download the app through the respective mobile app store.

Updates:

An issue affecting Apple devices in March 2022 has been fixed.

Get started with Trust Wallet.

7. Metamask.

Best For Accessing Decentralized Applications.

metamask homepage

Metamask allows you to start exploring the Ethereum blockchain world in a user-friendly way.

With Metamask, you can easily store and manage your ETH and other ERC20 tokens.

You can also use it to access various decentralized applications built on the Ethereum network.

If you want to send, store, and buy tokens, Metamask is an excellent choice.

It’s also perfect for those who want to start experimenting with blockchain technology as it provides an easy way to do so.

Due to its Chrome and Firefox browser extension and mobile application (for both Android and iOS), Metamask is also great for those who want to use Ethereum on the go.

If you want to feel (and be) in control of your Ethereum, Metamask is an excellent choice.

MetaMask generates passwords and keys on your device, so only you have access to your accounts and data, meaning that you always choose what to share and what to keep private.

Key Features:

metamask features
  • MetaMask allows users to store and manage account keys to ensure that data remains confidential and only accessible to the right people.
  • MetaMask makes it easy to send and receive Ethereum-based cryptocurrencies and tokens with the ability to broadcast transactions.
  • You can also use the MetaMask mobile app’s built-in browser to connect to decentralized applications securely.

Pricing:

install metamask

Based on the device you’re using, you’ll have to download the appropriate software.

Updates:

There is now Apple Pay integration along with other important iOS updates so that users on this platform can have a better experience.

Get started with Meta Mask.

Other Ethereum wallets not mentioned in this guide include the Atomic Wallet, Exodus, Argent, Brave, Guarda, Jaxx, Dash, Shapeshift, Binance Wallet, MyetherWallet, and the Ledger Nano X.

What Are Ethereum Wallets?

An Ethereum Wallet allows you to store any Ethereum assets that you buy online through the blockchain.

The best Ethereum wallet is the one that suits your needs and provides the features that you are looking for.

All of the wallets mentioned in this guide provide a variety of features, so it’s essential to decide what is important to you before making a decision.

There are both software and hardware wallets, each of which has its own advantages and disadvantages.

Let’s explore the main differences between these two.

Software wallets

Software wallets can be downloaded and installed on your computer or mobile device.

This means that you must keep your computer or device secure as they hold your private keys.

Software Ethereum wallets can store a variety of cryptocurrencies, not just Ethereum.

A desktop wallet might be a good choice for you if you want to control your private keys and are comfortable managing your computer’s security.

Web wallets are another type of software wallet that one can use to store Ethereum.

Web wallets are typically hosted by a third-party site and generally require you to create an account with them.

They are easy to use but are less secure than desktop or mobile wallets as they are more vulnerable to hacking.

On the other hand, a web wallet might be a good choice if you want to store your Ethereum online and don’t want to worry about managing and securing a desktop or mobile device.

Finally, the mobile wallet category also includes wallets installed on your mobile device.

These are very convenient to use and allow you to store Ethereum on the go while providing a good level of security.

Hardware wallets

If you’re looking for crypto wallets that provide the highest level of security, then you’ll want to consider a hardware crypto wallet.

Hardware wallets are physical devices that store your private keys.

They are generally more expensive than software wallets but offer greater security.

These wallets typically require a companion app connected to the internet to manage your cryptocurrencies.

Online Vs. Offline Wallets

While one can store a digital wallet on a computer with various operating systems(Windows, macOS, or even Linux) or a mobile device connected to the internet, an offline wallet needs to be stored away from any device connected to the web.

An offline Ethereum wallet might be a good choice if you want the highest level of security for your cryptocurrencies.

Conversely, online wallets are more convenient to use but are less secure than offline wallets.

Features Of A Great Ethereum Wallet

The following are some of the key features when choosing a great Ethereum wallet.

Decentralized

While other traditional web wallets store your files on a central server, so-called “decentralized” or “distributed” wallets store your files across many different computers.

This makes them much more difficult to hack and is an excellent feature to have in any type of wallet you go for.

Private Key

Your Ethereum account typically contains two elements: public and private keys.

The public key is used to receive payments, while the private key is used to sign transactions.

Retaining complete control of your private key is crucial for long-term security.

This is important as it allows you to control your funds – without relying on a third party to do so.

Ease Of Use

Finding a great wallet that’s easy to use is critical.

A simple user interface plays an important role and should be well-supported with various features and functionality while also ensuring that you can get started quickly.

Security

The best Ethereum wallets will provide a high level of security for your funds.

This should include 2-factor authentication and encryption, which make it difficult for anyone except the right person to get into the account.

secure electronic chip

Some Ethereum wallets include a secure electronic chip that helps to protect your funds from theft or loss.

This allows you to keep your funds safe even if your device is lost or stolen.

Smart Contracts

Ethereum wallets that access smart contracts will allow you to use them to create and execute transactions.

This can help you to automate complex processes and save time, while keeping security standards as high as possible.

Backup Seed Keys

A good Ethereum wallet will also allow you to back up your seed keys as frequently as required.

A seed key is a series of words that allow you to restore your wallet if the device itself is lost or damaged.

As a result, you’ll be able to restore your funds if your device gets compromised.

Access Decentralized Ethereum Apps

Ethereum wallets that allow you to access decentralized Ethereum apps will give you access to all of the features of those apps, sometimes directly from the device itself.

This can include things like voting, governance, and asset management.

Transaction Fees

Some Ethereum wallets charge a transaction fee for every transaction that you make.

Others do not.

Make sure to read the terms of service of any Ethereum wallet before you use it to ensure that you understand the fees that will be charged.

For most, finding wallets with low fees is a factor when making a final decision.

Bluetooth Functionality

Some Ethereum wallets include Bluetooth functionality that allows you to connect them with other companion devices.

This can be helpful for things like transferring funds or checking your balance.

It also means that you would not need a physical connection to the device to use it, leading to potentially more secure transactions in various situations.

The Ability To Store Different Cryptocurrencies

Finally, a good wallet should allow you to store a variety of cryptocurrencies.

This will allow you to keep all of your funds in one place and avoid using multiple wallets.

Best Ethereum Wallet – FAQ

What Are Hot Wallets?

Hot wallets are digital wallets that are connected to the internet.

This makes them more convenient to use and less secure than offline wallets.

What Are Paper Wallets?

Paper wallets are a type of offline wallet.

They are created by printing out your public and private keys and storing them in a safe place.

Some also offer a barcode on the paper itself. This makes them very secure, but they can also be challenging to use.

Wrap Up.

Finding a secure cryptocurrency wallet is essential to protect your funds.

The top Ethereum wallets will have a high level of security, be easy to use, and support a variety of features.

Before deciding, look for a wallet with as many of the features I have outlined above. Doing so can go a long way in protecting you from theft or loss.

Remember that a secure wallet is essential to keep your Ethereum investment safe.

Have you ever used an Ethereum wallet?

Did I miss out on any of your favorite features?

Let me know in the comments below. I would love to hear your thoughts.

Further reading on AdamEnfroy.com: Want to know how to use crypto credit cards to spend your Ethereum? I’ve got you covered.

Check out my article on the best crypto credit cards right now.

In addition, here are the best metaverse crypto coins if you’re interested in buying into this up-and-coming industry.

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