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The 15 Best Ethereum Wallets for 2024 – Store ETH Safely

The 15 Best Ethereum Wallets for 2024 – Store ETH Safely

In just the first quarter of 2024, ETH price has nearly doubled against the US Dollar.

As Ethereum continues to solidify its position as a leading cryptocurrency, the importance of secure and user-friendly wallets has never been more critical. This pressing need is the problem that Ethereum users face: how to safely store and manage their ETH in 2024.

The number of available options can be overwhelming, and choosing the wrong wallet could have serious implications for your digital assets.

Our comprehensive guide to the 15 Best Ethereum Wallets for 2024. This meticulously curated list offers a deep dive into the most reliable and efficient wallets available. We’ve considered factors like security features, ease of use, and unique functionalities to ensure that you make an informed decision tailored to your needs.

What is an Ethereum Wallet

An Ethereum wallet is a digital access point that allows you to use or “store” your ETH. 

When you receive Ether, whether, from an exchange platform or an individual, you will need to provide an address to indicate where your tokens should be delivered. Now, there’s a multitude of different wallets, but they all work on a similar principle. 

Before we go further, let’s quickly discuss the different aspects of an Ethereum wallet.

How Does an Ethereum Wallet Work?

Unlike cash or gold, Ethereum tokens are not tangible. They are digital representations of value on the blockchain. As such, you’re unable to literally “store” them.

Instead, when creating a crypto wallet, you are essentially generating a point of access to your coins. 

Ethereum wallets use public key encryption and consist of two unique addresses, each comprised of a given number of alphanumeric characters:

  • A Private Key – which allows you to access and use your coins. It’s made of 64 random hexadecimal characters ( 0 to 9 and A to F). 
  • A Public Address – used to receive ETH when other people send it to you or when buying from an exchange. 

The private key should be kept secret as it allows you to access your Ethereum balance. 

How to choose the best Ethereum Wallet?

Now that you know how Ethereum wallets work, we should go through all the different types of wallets and the purposes they serve. There are five main categories:

  1. Mobile Wallets: These wallets are mobile applications that are installed on your phone. While providing great accessibility and decent security, they can be considered a liability if your mobile device is lost or stolen. 
  2. Online wallets: These wallets can come in the form of a web browser or a mobile app. They are a convenient way to access your cryptocurrencies on the go, through any internet-enabled device of your choice. 
  3. Desktop wallets: These wallets store the keys on your computer. They require the installation of specific software and are much more secure than online wallets as they don’t rely on a third party to safeguard any of your data. 
  4. Paper wallets: These don’t cost anything and are the most secure type of wallets, as they are entirely off the grid. They are simple pieces of paper where your keys are printed on. 
  5. Hardware wallets: These devices are specifically designed for the safekeeping of public and private keys. They are very popular as they don’t compromise on security, while still keeping some form of convenience while transferring crypto. 

1. Paybis Wallet

Paybis logo

Number of supported coins: 80+
Access: Mobile, Desktop
Mobile OS: Android and iOS 

We offer our own Ethereum wallet: a free and unrestricted online wallet accessible right from your Paybis profile.

It is a fully fledged crypto wallet that works with all ERC-20 coins and can be accessed right from your Paybis account; no separate login necessary. 

We’ve worked hard to make this the best online Ethereum wallet. Here are some of its features:

  • Rock-solid security – Paybis Wallet uses MPC technology and underground storage servers to ensure highest degree of security;
  • Multiple currencies supported – in addition to ERC-20 tokens, Paybis also offers wallets for popular coins such as Bitcoin, Tether, and Dogecoin, to name a few. The list is constantly growing;
  • Perfect integration – you can access your wallet right from your Paybis profile and top it up right from our exchange;
  • Simple yet powerful – intuitive interface helps you get started right away. Other powerful tools, such as a multiple currency converter, are just a few clicks away.

The Paybis Wallet was developed from the ground up to be the best of custodial and non-custodial wallets. It is a free on-chain wallet that can be accessed by logging into your Paybis account. All your transactions and balances can be transparently verified on any blockchain explorer.

How to Get Started with Your Paybis Wallet

Your Paybis wallet is accessible from your Paybis profile; there is no need to install any additional software or log onto a separate site.

If you don’t yet have a Paybis profile, you can get one in a few minutes; click here to get started.

2. Best Multichain Multi-Sig ETH Wallet – TotalSig

total sig wallet

Number of supported coins: 10,000+
Access: Browser extension
Mobile OS: Not yet launched

TotalSig is a multi-signature, multi-chain Web3 cryptocurrency wallet that provides a secure and user-friendly platform for managing various cryptocurrencies. It’s designed to cater to both individual users and large enterprises, making it ideal for a range of applications from personal finance to business transactions.

The key features of TotalSig include support for a wide range of blockchains and tokens, with seamless integration across 11 blockchains and support for over 10,000 tokens. This broad compatibility ensures that users can manage a diverse portfolio of assets within a single wallet.

TotalSig’s group control functionality is particularly beneficial for businesses and organizations, allowing multiple stakeholders to jointly approve transactions. This feature enhances security and collaboration, making TotalSig a suitable choice for teams and businesses.

TotalSig also emphasizes security, incorporating multi-party computation (MPC) to ensure advanced protection of user assets. This approach to security is vital in the cryptocurrency space, where safeguarding assets against unauthorized access is a top priority.

How to Get Started with TotalSig

The following video will help you set up your first Ethereum multi-sig wallet with TotalSig:

3. Best Ethereum Web Wallet – Metamask

metamask wallet

Number of supported coins: All Ethereum-based tokens
Access: Google Chrome, Opera, Brave extension
Mobile OS: Android and iOS

MetaMask is more than just an Ethereum and ERC-20 tokens wallet. This browser extension allows you to build decentralized applications and communicate with the Ethereum Blockchain. 

The private keys are encrypted and stored in your browser data storage, which you can export at any time. So here, you don’t rely on a 3rd party for storing your data. 

Here’s why MetaMask is a preferred choice for many:

  • Keys are stored offline – Acting like a desktop browser of sorts, MetaMask doesn’t store your private keys online but encrypts them locally. They are hidden away in the browser program data and can only be accessed through the option of exporting your private key with the app. 
  • Easy to manage multiple wallets – the interface allows you to switch between different wallets. 
  • Supportive developers – An active team that corrects every bug thrown at them and listens closely to their users. 

How to Install and Create Your MetaMask Wallet

You should follow this guide to see what are the necessary steps you need to take to install MetaMask in your browser: 

4. Best Ethereum Desktop Wallet – Atomic Wallet

Number of supported coins: 1,400+
Access: Desktop, Mobile
Mobile OS: Android and iOS

Atomic is a multi-cryptocurrency wallet that supports more than 300 different cryptocurrencies through its user-friendly application.

The wallet focuses on security, anonymity, and decentralization, while also offering a myriad of features. 

Apart from being just a wallet, Atomic can also be used as a fee-free decentralized exchange using the Atomic Swaps smart contracts. 

Let’s check the main benefits of Atomic wallet and why we think its the best Ethereum wallet for desktops: 

Why you should choose Atomic Wallet

  • Non-custodial keys – Your private keys are stored and encrypted on your machine, preventing phishing attacks. 
  • Atomic Swaps – Atomic allows you to swap one coin to another using smart contract technology. 
  • Supports additional decentralized trading platforms – the wallet has integrated exchanges like Changelly and Shapeshift for those coins that don’t have Atomic Swap support yet. 

How to set up your Atomic Wallet

This short 3-minute video will guide you through the necessary steps when starting out with Atomic Wallet. 

5. Best Offline Ethereum Wallet – Tangem

Tangem Wallet

Number of supported coins: 1,000+
Access: Mobile
Mobile OS: Android and iOS

Tangem Wallet stands out as a secure and user-friendly option for storing your Ethereum and other cryptocurrencies. Unlike most hardware wallets, Tangem takes a unique approach by utilizing a tamper-proof physical card instead of a dedicated device.

Why should you choose the Tangem wallet?

  • Offline Storage: Tangem prioritizes security by keeping your private keys entirely offline. The keys are stored within a certified chip embedded in the card, eliminating online vulnerabilities.

  • Durability and Convenience: The Tangem card is exceptionally durable, resistant to dust, water, and extreme temperatures. Its compact size makes it easy to carry and store securely.

  • Mobile App Integration: Tangem integrates seamlessly with a user-friendly mobile app for Android and iOS. The app allows you to monitor your crypto holdings, send and receive Ethereum, and manage other supported currencies.

  • Multi-Coin Support: A single Tangem card can store a vast array of cryptocurrencies, including Ethereum and thousands of ERC-20 tokens. This makes it a versatile option for users with diverse crypto portfolios.

How to Set Up Your Tangem Wallet

The following video will help you go through the necessary steps when setting up your Tangem wallet for the first time:

Other Great Ethereum Wallets

  1. Enjin Wallet – Enjin is a mobile wallet for Ethereum-based tokens, Bitcoin, Litecoin and Enjin Coins. Similarly to Atomic Wallet, it includes built-in exchanges and supports gaming tokens created on the Enjin network. 
  2. Coinomi – one of the most popular mobile wallets out there. It supports a good number of cryptocurrencies (120+) and allows you to manage your crypto through a modern and user-friendly interface. 
  3. Guarda Wallet – This multi-platform wallet offers good security and relative ease of use. The fact that you can access it through most digital devices available makes it a great choice for anyone. 
  4. Ledger Nano X – the big brother to the Nano S. It offers the same security advantages, it goes one step further by including a larger battery and storage capacity. These additional features allow it to last longer and run even more applications. 
  5. Edge – another popular mobile wallet, it gives the users the ability to simplify the wallet creation process. For this purpose, it uses a unique security model that relies on a Username+Password sequence which is used to create the private key.  
  6. Lumi Wallet – this mobile wallet allows you to handle your crypto securely through a simple, but feature-rich interface. Additionally, helps you manage and store your Ethereum collectibles like Cryptokitties or gaming tokens. 
  7. Exodus – this desktop wallet incorporates the Exodus Exchange, which allows users to exchange cryptocurrencies directly within the application.
  8. Trezor One – the second best hardware wallet that trails only a step behind the Ledger Nano S. The only thing that puts him in second place is that Ledger’s Live app is much more user-friendly. 
  9. Argent – Another mobile wallet, Argent keeps track of your crypto tokens, plus lets you make transfers and transactions against other tokens. It also allows the creation of an easy to read address (ENS) that you can send to whoever wants to send you ETH. 
  10. MyEtherWallet – Last on our list, this web-based wallet has become one of the favorites for Ethereum enthusiasts. It allows you to create a wallet in seconds, using a slick and user-friendly interface. 

Wrapping Up

There are many other cryptocurrency wallets out there and more coming up every day. When choosing a wallet to hold your ETH, ensure that it is secure and cannot mishandle your assets. Reputation of the wallet provider should be a crucial consideration.

While we cannot recommend you directly which third-party wallet you should choose, we encourage you to try out the Paybis Wallet. Developed in-house by our team of brilliant engineers, your funds will always remain yours and there are no charges to use or withdraw whatsoever.

Frequently Asked Questions

What is Ether and how do I get it? 

Ether or ETH is the native currency of the Ethereum network and fuels all the transactions on the Blockchain. You can send it over the internet as digital money or use it on the network, in decentralized applications. 

The best way to get ETH is to purchase it from an exchange. You can do this on Paybis using a variety of payment methods.

 

What is an Ethereum wallet’s public address?

Your wallet’s public address is the address that stores your ETH on the Ethereum blockchain. This is the address that you will be using when you want to receive ETH. The sender will use it as the destination of the coins they are sending you. 

What is an Ethereum wallet’s private key?

A private key is a wallet’s passcode. It helps you use your ETH tokens. Without it, you won’t be able to access your balance or spend any of your Ethers. Remember to always keep it safely stored and don’t share it with anyone. 

How long do ETH transfers take?

Ethereum confirmation times vary depending upon the amount of gas (transaction fee) one is willing to spend. You can check the average wait times at ethgasstation.info.

Can someone hack into my Ethereum wallet?

The cryptocurrency wallet’s goal is to store money, making them a prime target for cybercriminals. But if you follow the necessary safety precautions, you will find them quite safe to use and will store your keys securely. 

Online wallets are the most targeted type as they are vulnerable to phishing and scam techniques. On the other hand, hardware wallets are virtually unhackable and certainly the most secure. 

Remember that with cryptocurrencies, you are your own bank. This gives you a lot of freedom, but at the same time, you are entirely responsible for how you secure your private keys. 

I’ve lost my ETH wallet’s private key. What now?

If you lose your private key, it is virtually impossible to retrieve it.

Most Ethereum wallets will ask you to write down a mnemonic phrase when creating your wallet. This string of random words is very important, as it will help you recover your private key in case of a loss. Make sure you keep it in a separate safe place from your Ethereum wallet, just in case something happens to it.

 

What are ERC20 Tokens and where can I store them?

ERC-20 tokens are cryptocurrencies that run on the Ethereum blockchain. These tokens try to improve on the Ethereum protocols. Most online and hardware Ethereum wallets support ERC-20 tokens, and they can be stored using your Ethereum wallet of choice. 

Disclaimer: Don’t invest unless you’re prepared to lose all the money you invest. This is a high‑risk investment and you should not expect to be protected if something goes wrong. Take 2 mins to learn more at: https://go.payb.is/FCA-Info