Ethereum, the second-largest cryptocurrency, requires a digital wallet to transact and manage your ETH assets. Ethereum wallets let you interact with your Ethereum account, decentralized applications, and non-fungible tokens (NFTs).
These wallets can store ETH and any other assets based on the ERC-20 token standard. This article will provide the highlights of the 10 best Ethereum wallets for 2023 that you can use to efficiently manage your crypto assets.
What are The Best Ethereum Wallets?
There are many Ethereum Wallets available for users on the internet. Metamask, MyEtherWallet, Atomic, Trust Wallet, Exodus, Brave, Trezor, and Ledger are some of the most-mentioned names in the list of the best Ethereum wallets.
Rainbow, Guarda, Argent, Jaxx, and Keepkey are some of the lesser-known names. However, not all wallets share the same features. Below is the overview of the 10 best Ethereum wallets that suit everyone’s needs.
Top 10 Ethereum Wallets
Metamask
Metamask is by far the most comprehensive Ethereum wallet as it provides an essential utility for blockchain newcomers, token traders, crypto gamers, and developers. It offers almost all-in-one features to its users and has over 30 million users worldwide.
Metamask is available as a browser extension and mobile app. It supports ETH, and any ERC-20 and ERC-721 tokens. It is non-custodial and generates passwords and keys on the device, so only the user is in control.
Besides sending and receiving Ethereum tokens, users can buy tokens within the wallet by using different payment methods including cards and bank transfers. Metamask can be thought of as a browser to access the Ethereum blockchain as it provides the simplest yet most secure way to connect to blockchain-based applications like Uniswap, AAVE, and Axie Infinity.
Users can exchange tokens inside the wallet using the Swap feature and manage their NFTs. Metamask supports EIP-1559 to provide transaction fee estimation to users. Hardware wallet support on extension is also available for Trezor, Ledger, lattice, Keystone, and AirGap Vault. The mobile app only supports Keystone.
Apart from the Ethereum network, Metamask allows users to add tokens from other layer-2 and Ethereum-compatible blockchain networks like Binance Smart Chain (BSC), Avalanche, Fantom Opera, and Harmony.
MyEtherWallet
According to the developer, MyEtherWallet, also called MEW, is a free, multi-chain, non-custodial, open-source, client-side interface for generating Ethereum wallets & more. In essence, it is not a wallet but a client-side interface that allows users to interact directly with the blockchain and create wallets.
MEW is actually a suite of products. It is available as a mobile app for Android and iOS. MEW’s official browser extension which goes by the name of Enkrypt and offers multi-chain support. Desktop software is available but the developer recommends it only to experienced crypto users. Support for hardware wallets is also there.
Users can easily install the mobile app or browser extension. Wallet creation and the interface is user-friendly. It allows the buying, sending, and receiving of ETH and ERC-20 tokens. Users can swap fiat to ETH, ETH to BTC, and ETH to ERC20 tokens via integrated partners 1inch, DEX AG, Changelly, Bity, and Simplexs.
MEW offers NFT support through Opensea and Rarible. Users can access many Dapps, buy ETH with major cards and bank accounts, and sell crypto to withdraw in their accounts. They can stake on Ethereum 2.0 to earn staking rewards.
Atomic Wallet
The Atomic Wallet is a non-custodial wallet and decentralized exchange app that is available for both smartphones and PCs. According to the website, it currently supports 1429 crypto assets including coins and tokens.
Its main feature is its decentralized exchange called Atomic Swap where more than 100 pairs can be exchanged. Besides sending and receiving, users can purchase crypto through bank cards. It also has its own utility token called AWC that can be staked to earn 20% rewards.
13 coins can be staked on Atomic Wallet. Users can also send and receive NFTs on the SOL, ETH, BSC, and Polygon blockchains in their wallets.
During the testing, we found that getting started with Atomic Wallet is easy and the interface is easy on the eyes.
Trust Wallet
Trust is a multi-chain crypto wallet that calls itself a Dapp browser. It is available as a mobile app and browser extension. According to the website, it supports 65 blockchains including Bitcoin, and more than 4.5 million assets.
Trust Wallet allows users to buy, store, and collect NFTs on Ethereum & BNB Smart Chain, swap tokens through built-in DEX, and earn crypto through staking with interest rates as high as 11% APR. Users can interact with any decentralized application. Developers can also list their Dapp on the Trust Wallet’s Dapp marketplace by submitting a form.
During the testing, we found that the mobile app contains all the above-mentioned features but not yet the browser extension. However, setting up the wallet is easy, and the interface is quite simple.
Exodus Wallet
Exodus is also a non-custodial, multi-chain wallet that is available as a mobile app, Chrome & Brave extension, and desktop wallet.
This Wallet currently supports Ethereum, Solana, Algorand, Polygon, BNB Smart Chain, and 260+ assets, with many more to come. Users can purchase their favorite crypto assets directly within the wallet with their credit/debit card, bank account, or Apple Pay.
It features an in-app exchange to swap cryptocurrencies and allows users to earn passive income by staking their ADA, ATOM, SOL, VET, VTHO, XTZ, ALGO, and ONT assets. They can buy, mint, or sell NFTs across Solana, Ethereum, Algorand, Polygon, and BNB Smart Chain. Users can venture fearlessly into Web3 and explore the world of DeFi. Support for the Trezor hardware wallet is also there.
During the testing of the Chrome extension, we found that Exodus is a viable option for both beginner and intermediate crypto users. Setting up and navigating to different features is quite simple.
Brave Wallet
Brave is a unique kind of wallet that is built into the privacy-oriented Brave Web browser available only in the PC version. You don’t have to install it as it comes with the Brave browser. It is a multi-chain (except Bitcoin) and non-custodial wallet built primarily for the Basic Attention Token (BAT).
The Ethereum-based BAT is the native token of Brave that tracks users’ time and attention on websites using the Brave browser. Publishers, advertisers, and readers receive BAT rewards that can be managed with Brave Wallet.
It supports EVM-compatible chains and layer-2 solutions. Users can buy, send, receive, and swap assets within the wallet. Support for NFTs is also available. Brave can also be connected to Dapps.
During the testing, we found that setting up the wallet is quite easy and the user interface is intuitive, easy to use, and clear, even for first-time users. The staking option is not available yet.
Trezor Wallets
Trezor is a hardware wallet with a focus on security by taking crypto offline. It comes in two models: Trezor Model One and Trezor Model T.
Both models enable offline seed generation & backup, PIN & passphrase protection, hidden wallet creation, and coin management in the Trezor Suite app.
Trezor Model One
Model One was the first hardware wallet ever released back in 2014. It was originally built for offline storage of Bitcoin but now supports 1289 coins and tokens. Its current price is $69 per unit.
Model One comes with all of the basic features needed to keep your assets safe from malicious actors. To interact with the wallet, a desktop and web app called Trezor Suite is available.
When it comes to features, you can send, receive, buy, sell and swap crypto assets with Model One. According to the developer, CoinJoin, a privacy-oriented feature, is also coming soon.
The package comes with a physical wallet, an A-USB cable, and a card to write your seed recovery phase. Setting up the wallet is easy but takes some extra time compared to software wallets. Overall, Model One is the best affordable option to secure and manage your assets as Model T has a very high price tag.
Trezor Model T
Trezor Model T is the advanced version that uses Model One as the foundation and builds on top of it. It is 3 times more expensive than Model One with a price tag of $219 per unit.
Model T is smaller than Model One but features a larger touchscreen, bringing more feel to the user interface. It is more secure as PIN and passphrase can be entered directly on the screen. This model also features advanced Shamir backup along with the standard seed backup.
It supports 1456 coins and tokens. Assets can be managed through Trezor Suite which is designed for every level of user. Users can easily and securely buy, send, receive, and manage coins with confidence. The Coinjoin feature is also coming soon to add privacy to the mix.
Setting up the wallet is easy. Just connect the wallet to your computer or mobile, and follow the instructions given in the delivered package.
Overall, Model T is for crypto users who take security more seriously.
Ledger Wallets
The Ledger Wallets is a suite of security-focused hardware wallets that is in direct competition with Trezor wallets. They come in two versions: Ledger Nano S Plus and Nano X.
Ledger Nano S Plus
The Nano S Plus is Ledger’s third hardware wallet in its Nano series to replace the Nano S. It can be thought of as the advanced version of the Nano S and equivalent to the Trezor Model One. According to the Ledger Shop, its price is around $85 per unit.
The Ledger Live desktop app is required to interact with the wallet. It supports over 5,500 digital assets including Bitcoin and Ethereum. However, the hard drive capacity only allows it to hold up to 100 crypto wallets simultaneously. The original Nano S only allowed 3 wallets to be managed at a time.
Apart from buying, selling, sending, and receiving crypto, users can also swap crypto assets, send, receive, and store NFTs on Ledger Nano S+ via the Ledger Live app. They can also stake assets to earn passive income and lend assets on DeFi apps to earn interest.
Watch this tutorial by Ledger to set up your Nano S plus.
Ledger Nano X
Nano X can be compared with Trezor Model T. It is the flagship product of Ledger with the added features of Bluetooth and a battery capable of up to 8 hours.
Nano X has a price tag of $160 per package. Crypto-related functionalities and features are the same as Nano S+. The added benefit of Nano X is that it can be used on the go, thanks to its Bluetooth. It can be paired with your smartphone via Bluetooth to use the Ledger Live.
Watch this tutorial by Ledger to pair your Nano X device with your smartphone.
Conclusion
With so many options to choose from, the above-discussed Ethereum Wallets fulfill the needs of every level of user and are free to use. Metamask is by far the most used wallet and provides all the functionalities that are possible with your ETH assets like buying, selling, sending, receiving, staking and the management of NFTs.
MyEtherWallet, Atomic, Trust, and Exodus wallet are almost identical in their functionalities and are viable options for those who want to dip their toes in crypto. Brave is an exception as it is not a standalone wallet. It is built into the Brave browser and the staking feature is not available.
If you are more sensitive to your assets’ security and ready to spend money, take your crypto assets offline by using Trezor and Ledger hardware wallets.
