There are hundreds of really good Ethereum wallets out there to choose from, but which ones are the best for you?
In this article, we will discuss the absolute, best of the best Ethereum wallets available and why we consider them worthy to be on this list.
But first, for the sake of those new to cryptocurrency let’s take a brief look at what is Ethereum and a Wallet.
What is Ethereum?
Ethereum is a community-built, open-source blockchain network that enables developers to build, deploy, and manage smart contracts and decentralized applications (dApps).
Ether (ETH) is the name of the native cryptocurrency that powers the Ethereum network and all the applications built on it. And that is where the cryptocurrency derives its value and primary usecase.
Most dApps built on Ethereum each have their own separate native cryptocurrencies which are generally referred to as ERC-20 tokens.
What is an Ethereum Wallet?
An Ethereum Wallet is an application, physical hardware, or online service which stores and helps you transact with your Ether (ETH) and all Ethereum-based ERC-20 tokens as well as interact with dApps built and running on the Ethereum network.
One important fact to note is that your Ethereum Wallets do not store your coins. They’re just an interface or tool for accessing your coins and applications on the Ethereum blockchain.
They let you read your balances, make transactions, and connect to applications on the Ethereum blockchain.
As such, your funds are not tied to any particular wallet and can be easily moved from one wallet provider to another at will.
Your Ethereum wallet is similar to the mobile application of your bank with which you can view your balances and make transactions.
But in this case, your wallet helps you interact with the Ethereum blockchain rather than a bank.
With that said, what are the best Ethereum wallets for storing your digital assets, making transactions, and interacting with dApps on the Ethereum blockchain?
The 11 Absolute Best Ethereum Wallets
Criteria for Selecting the 11 Absolute Best Ethereum Wallets for this List
I can hear you asking, hey! Chris, what’re your criteria for including the above in your list of the absolute best Ethereum Wallets?
Here it is.
As stated in our definition of an Ethereum wallet.
An “absolute best Ethereum wallet” should be useful not just for storing your crypto and making transactions (these are basic things every wallet worth a name should be able to do) but have or meet all of the following additional features and requirements.
- Fully audited or open-source (publicly accessible) code. Which guarantees security and reduces risk to users.
- Supports access and interaction with your favorite dApps on the Ethereum Blockchain. Providing enhanced utility to users.
- Non-custodial. Not your key, not your funds. Only you control your funds, such that should the wallet disappear for any reason, you can simply move to and access your funds through other wallets.
- Decentralized and without geographical limitations. Anyone, anywhere in the world is able to use the wallets without limitations whatsoever.
- Supports all ERC20 tokens. You can store and manage your Ether (ETH) and all ERC-20 tokens from the wallet.
- User-friendly. Easy and simple enough for a first-time user to be able to navigate successfully.
- Have an active community and support system and managed by an active team.
- Fiat on-ramp. Supports the purchasing of crypto with a bank card directly from the wallet.
- Decentralized token swaps or exchange. Swap one cryptocurrency for another right inside of your wallet without having to use a centralized exchange
- Access to financial services such as borrowing, lending, savings, staking, etc from your wallet.
Other interesting and unique features of selected additional wallets in the list.
Below are other features of selected additional wallets which makes them even more attractive to potential users.
Note: No single wallet has all of these features bundled into it. I wish there is too (haha!).
- Multi-signature accounts. Enabling two or more users to jointly authorize a transaction before it’s executed, providing an extra layer of security.
- Withdrawing crypto directly to your bank account from the wallet with minimal KYC requirements.
- Make high volume in-app crypto purchases with your bank card (for the whales).
- Provides limit protection, such that should an authorized user gain temporary access to your wallet they can’t drain all your money in a single transaction.
6 out of the 11 wallets do not possess “all” of the primary requirements but still made it to the list because they possess one or more of the above special features. They are: Monolith, Dharma, Gnosis, Alpha Wallet, Torus, Enjin
Other really good and popular Ethereum wallets that didn’t make it to this list due to the unique selection criteria applied, but I feel guilty not to mention them are: Ledger, Trezor, Trust, Coinbase Wallet, MetaMask, Portis, Status, SquareLink, Ambo.
Ok!
There we have it and I feel better now giving recognition to the runner-ups.
Now, without much ado, let’s briefly take a closer look at each of the 11 absolute best Ethereum wallets one after the other.
Shall we?
The 11 Absolute Best Ethereum Wallets Discussed
1. Argent
Argent is a simple, secure, and smart Ethereum mobile wallet to store, transact, earn interest, buy, exchange, and invest in crypto.
One thing you can’t take away from the Argent wallet is their badass user experience that arguably rivals traditional finance or banking apps with its loads of sophisticated functionality.
Unique Features of Argent Wallet:
- Argent pays for your gas fees
- Argent enables you to lock and unlock your wallet from making transactions
- Argent uses a domain name like wallet address e.g cryptosorted.argent.xyz (yes, that’s my wallet address) as your wallet address making it easy to remember your wallet address (account number) and making transacting with crypto as simple as sending an email.
- Supports multi-signature transactions, providing another layer of security for users.
What you may not really be comfortable with or scare you at first is the fact that:
- Argent requires that you “activate” your wallet with a minimum of $100 initial deposit. I know that sounds scammy and scary but the wallet is trying to replicate the simplicity of the traditional financial system in crypto.
- Argent demand your phone number upon registration, though for seemingly good reasons:
- Send you security notification when suspicious activities are detected with your wallet
- As a two-factor authenticator when recovering your wallet to another device in case you lose your phone
- To prevent malicious actors from creating multiple accounts and draining their reserve of coins by making multiple fake transactions, otherwise known as a Sybil Attack.
But then if you don’t want to give out your mobile number to them, they offer a way to bypass phone verification but you lose the security notification alerts support.
Argent feels much like your regular bank app, only that your funds are not in the bank but on the blockchain and controlled only by you.
A marrying of the smooth user experience, and security that you’re familiar with in traditional finance with the decentralization of crypto plus more.
Suitable for all types of users.
2. Authereum
Authereum is a web-based Ethereum wallet to store, manage your crypto, and interact with dApps on the Ethereum blockchain.
Creating an Authereum wallet feels very similar to opening a bank account.
And just like Argent, you don’t have to deal with long Ethereum addresses on Authereum but a simple username which serves as your wallet address or should we call it “bank account”?.
Again, similar to Argent and opening a traditional bank account, you’re required to make an initial deposit to “deploy”, “activate” your account and claim your username.
PS: It is normal for all wallets that give you a username to require some small payment or initial deposit as that is a premium service to make crypto familiar to the masses.
Unique Features of Authereum Wallet
- Access your Authereum wallet and funds anywhere, at any time, and on any browser — mobile, or desktop. No seed phrases to store, no downloads required, and 100% self-custody.
- If you’re a whale, you can make large volume crypto purchases with your bank card.
- Enables limits protection or restrict your wallet from making a transaction if you suspect anything or want to limit your spend
3. imToken
imToken is a multi-chain, multi-cryptocurrency mobile wallet with in-built decentralized exchange (DEX), and dApp browser that helps you access and interact with Ethereum dApps.
imToken is trusted by over 10 million users in more than 200 countries around the world.
Interestingly, imToken also offers a hardware wallet — imKey Pro if you want to take your cryptocurrency completely offline for better security.
4. MyCrypto
MyCrypto is a community-built, open-source, web, and desktop Ethereum wallet for storing, spending your crypto assets and interacting with dApps securely.
MyCrypto supports several ways to connect and use your wallet, such as with your Ledger, Trezor, Safe-T mini, hardware wallets, or using your private key, Keystore file, and mnemonic phrase, etc.
Unique Features of MyCrypto Wallet
- Access to different decentralized financial (DeFi) tools
- Make large volume crypto purchases with a bank card (fiat)
- Explore and interact with your favorite dApps on the Ethereum blockchain
- Provides decentralized token exchange or swap
5. MyEtherWallet
MyEtherWallet (MEW) is arguably the most popular, open-source, original, web, and mobile Ethereum wallet to store and spend your Ether and all ERC-20 tokens, browse dApps and interact with the Ethereum blockchain.
MyEtherWallet supports only Ethereum and all tokens that are built on the Ethereum’s blockchain.
Unique Features of MEW
Connecting your MEW mobile wallet with the Web helps you unlock all of its extended features such:
- Support for registration of ENS (Ethereum name services) names
- Deploy smart contracts to the Ethereum blockchain
- Borrow and lend out your crypto assets on interest
- Swap and trade tokens for Ether and vice-versa
- Interact with dApps, sign blockchain messages
- Connect with all major hardware wallets and devices
- Buy crypto with a bank card, and much more
6. Monolith
Monolith is a mobile Etheruem wallet to buy, store, spend, swap, earn interest, and borrow crypto from anywhere in the world.
Users can order the Monolith Visa-powered debit card, connect it to their wallet and spend their crypto everywhere visa is accepted online, and over 45 million merchant locations globally.
Unique Features of Monolith
- Withdraw your funds to your bank account
- Purchase crypto (DAI) with your bank card with zero fees
- Support multi-signature transactions for extra security
- Perform decentralized token swaps
- Set a daily spend limit to restrict your spend or protect your funds from theft
- Deploy smart contracts to the Ethereum blockchain
Monolith is more than just an Ethereum wallet, as it provides a wide array of financial services on the Ethereum blockchain with a goal to create a decentralized, and inclusive financial system
The problem with banking as we know it is that the profit is for the few while the losses are socialized. Thanks to Ethereum, we can now offer a credible alternative and do much better. ~ Monolith
7. Dharma
Dharma is an open-source, fully audited, mobile Ethereum wallet with a complete DeFi ecosystem that’s built on top of the Dharma wallet.
How Dharma Works
Dharma can do things your bank can’t because Dharma is powered by special cryptocurrencies called stablecoins. They’re just like normal dollars, but they live on the internet — which means they can do magical things ~Dharma
Once you’ve gotten your hands on some digital dollars, it’s time to experience the magic. Depositing your dollars into Dharma will automatically relay them into Compound — a global, decentralized network of borrowers and lenders that lets anyone in the world earn interest in a way that was never possible before. ~Dharma
Unique Features of Dharma Wallet
- Withdraw your crypto to the bank
- Decentralized token swap and exchange
- Enjoy zero transaction fees on your Dharma wallet
- Intelligent token price alerts
- Automatically earn interest on your DAI and USD Coin (USDC) stablecoin balances 24/7/265
Every Dharma account is built on top of the Dharma Smart Wallet, which means that you — and only you — will be able to control your money.
8. Gnosis
Gnosis is a mobile, desktop, and web-based Ethereum wallet for both individuals and organizations to store, manage, spend their crypto assets; Interact with dApps and smart contracts on the Ethereum blockchain, and invest seamlessly and securely in DeFi.
Features of Gnosis Wallet
- Multi-signature. Set a pre-determined number of signatures required to confirm transactions as an added layer of security for your company, or family crypto funds.
- Supports the storage and management of your Ether (ETH) coin and all ERC-20 tokens and ERC-721 collectibles.
- Access your wallet from the web, desktop, or on your mobile device, anywhere, anytime.
- Invest in DeFi, earn, borrow, invoice, setup payroll, and much more with your Gnosis wallet
9. Alpha Wallet
Alpha Wallet is an open-source, production-ready, and easy to customize Whitelabel Ethereum wallet for businesses and individuals.
Leverage blockchain and tokenization faster, and launch your MVP in 1/5 of the time and cost compared to alternative solutions ~Gnosis
Unique Features of AlphaWallet
- Store and manage all your Ethereum-based digital assets such as ENS, NFTs, Ether coin, and all ERC-20 tokens.
- Invest and earn with DeFi right from your Alpha wallet.
- Enjoy cold-level security with Gnosis Secure Enclave technology.
- Interact with and access Ethereum dApps.
With Alpha Wallet, businesses can bootstrap their own custom wallet solution with Alpha ready-to-market, white-label wallet.
Alpha Wallet Use Cases
For a good idea of what AlphaWallet means for businesses, read the 3 real-life use cases examples below as found on their website:
Shankai used AlphaWallet to tokenize 20,000 VIP tickets for the Fifa World Cup 2018 in Russia. This took down an unregulated ticket market and provided a streamlined purchase-to-event experience for ticket buyers.
Bartercard adopted AlphaWallet to support the novel Qoin currency, enabling 10,000+ businesses to increase their customer base life time value, provide new tokenized services, and find new opportunities for profitability.
Karma Cars used AlphaWallet to tokenize car ownership and enable rich-token functionality for customers to access and use their cars
10. Torus
Torus is a web-based Ethereum wallet that makes interacting with crypto and dApps on the Ethereum blockchain as easy as logging in to your email.
With Torus users can logging into or recover their Ethereum wallet with their Google, Facebook, Reddit, Discord, accounts.
“No more complicated seed phrases. Torus inherits traditional account recovery systems that allow users to recover their account via email/social login. We no longer have to worry about users who lose access to their accounts.”
Unique Features of Torus Wallet
- One-click login to your wallet and dApps using your Google, Facebook, Reddit, Discord, and Twitch accounts.
- Torus enables you to transact with your Email and Social IDs; send tokens directly to any Google, Discord, or Reddit user, even if they have never logged into Torus before.
- Purchase crypto with your bank cards and wire transfers right from your wallet
- Torus is a Web-based wallet that requires no registrations, downloads, or installations
11. Enjin
Enjin describes itself as an impenetrable, feature-packed, and convenient multi-cryptocurrency wallet built for traders, gamers, and developers.
The wallet supports all ERC20 tokens and other popular coins.
Unique Features of Enjin Wallet
- Infinite wallets support. Create, import, manage multiple wallets, all from a single, easy-to-use app.
- Access and interact with any Ethereum-based dApp right from your Enjin wallet.
- Decentralized token swap and exchange.
- Supports linking your wallet to blockchain games and
apps. - Support daily transaction limits and wallet restrictions to protect your crypto.
Final Thought on the 11 Best Ethereum Wallets
Ethereum’s main goal is to provide a seamless onboarding experience for new users as we aim for crypto mass adoption.
As a result, the choice of wallets discussed in this article is influenced by such factors as:
- How easy the wallet is to use especially for those new to crypto
- How secure the wallet is. The wallet must be fully audited, open-source, and non-custodial.
- The ability to purchase crypto with bank cards right from the wallet
- Support access to and interaction with dApps and DeFi products
- Limiting or eliminating having to deal with long wallet addresses
Because different people find different features most important to them which will influence their choice of a wallet to use, we have included or mentioned some other really great alternative Ethereum wallets that didn’t meet our strict criteria.
You can’t go wrong with any of the wallets covered in this article.
However, as always, only you are responsible for your decisions.
As such, ensure to always do your own research (DYOR) before using any of the wallets presented here.
In the end, only you can truly determine which particular wallet is “the best” for you based on the features that are most important to you.
Which is your favorite Ethereum Wallet? Share with us in the comments section below.