Ethereum constitutes a public, open-source, blockchain-based computer platform with smart contract functionality. But, have you stopped to think, what is the best Ethereum wallet?
The Ethereum wallet is an application that provides the ability to manage an Ethereum account, which allows you to check your balance, perform transactions, and connect to other applications.
It also gives users the opportunity to manage multiple Ethereum accounts from a single application.
In this post, we will tell you about the most well-known wallets for this platform, as well as provide an analysis and comparison.
Do you like the topic? Keep reading until the end!
Index
What is Ethereum?
Ethereum constitutes an open-source blockchain platform accompanied by a cryptocurrency called Ether (ETH).
It represents a decentralized blockchain network where users have the ability to monetize, create, and use Ether, which serves as the payment cryptocurrency.
Think of it as a sort of decentralized public ledger that was created by Vitalik Buterin and Joe Lubin in 2015. Thanks to its technology, it is difficult or almost impossible to hack, change, or deceive the system.
What is an Ethereum wallet?
An Ethereum wallet is a computer program through which it is possible to store information that is necessary to access your Ethereum funds.
It has a public key that serves a role similar to a bank account, but also has a private key that is similar to a password.
When the user wants to receive cryptocurrency, they must use their public key. When they send it, they will use their private key.
Is there an official Ethereum wallet?
There is not only one official Ethereum wallet, as this platform operates with many of the most prominent in the world. Here are some of the most important Ethereum wallets that are in the cryptocurrency market. Take note!
Trezor One
This is the oldest hardware wallet that has been used to store cryptocurrencies in a secure electronic chip. The mentioned chip can be activated by using a unique PIN, which protects your private keys so that they are not compromised.
Experts say it’s one of the best hardware wallets for cryptocurrencies because it keeps them away from the internet.
Metamask
This provides the possibility for people who do not have much experience in buying, selling and managing cryptocurrencies to do so. You can even download it as an app and a browser extension and interact with the Ethereum network, among other cryptocurrencies.
In it, the private key is stored on your computer, which is extracted with the help of a password. Unlike the first one, this wallet allows you to create a new password if you forget it or share it.
Exodus
It is another beginner-friendly cryptographic wallet with a simple interface and integrated exchange functions. It is compatible with several operating systems, including macOS, Windows, and Linux. It also allows you to download its mobile app and check the value of your coins in real-time.
Additionally, Exodus allows you to synchronize your Trezor wallet with its interface and use your hardware wallet as software.
Ledger Nano
Experts say it’s probably the best Ethereum wallet for extracting and storing your Ethereum coins. Like Trezor, it is a hardware wallet that stores the private keys of your coins inside a physical wallet. It’s worth mentioning that the Ledger Nano can store more than 1,000 coins, including Ethereum, Bitcoin, Litecoin, Dogecoin, Stellar, and others.