Best Ethereum Wallets in 2024

Best Ethereum Wallets in 2024

Ethereum wallets are essential for interacting with the blockchain, offering tools to securely store, send, and receive ETH, ERC-20 tokens, NFTs, and liquid staking derivatives (LSDs). Beyond storage, they enable seamless access to smart contracts and decentralized protocols.

To help you find the right fit, we rigorously evaluated 20 mobile, hardware, and browser-based wallets, narrowing down the best options tailored to your experience level and risk tolerance.

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1. MetaMask

MetaMask was launched in 2016 by ConsenSys and is one of the most popular Ethereum wallets right now, with over 30 million active users monthly. It is an amazing tool for users deeply involved in DeFi who need to sign multiple transactions and interact frequently with decentralized applications.

The wallet is available as both a browser extension and a mobile app (iOS and Android), making it simple to access and manage Ether (ETH) and ERC-20 tokens. MetaMask includes strong security measures, with features like password protection and local storage of private keys.

MetaMask integrates with platforms like Uniswap, Aave, and OpenSea while supporting layer 2 rollups like Base and Arbitrum. With MetaMask Snaps, it also connects to non-EVM chains like Solana and Sui, bringing the wallet’s functionality to a broader range of networks.

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2. Coinbase Wallet

First released in 2018, Coinbase Wallet is a non-custodial wallet developed by Coinbase to provide a secure platform for managing crypto assets. Users can swap ERC-20 tokens directly within the wallet using a built-in decentralized exchange aggregator that finds the cheapest trading route.

The wallet supports NFT storage and viewing, making it a comprehensive tool for managing collectibles and assets. Coinbase Wallet also offers cb.id usernames, in collaboration with ENS, allowing users to create personalized wallet addresses that simplify transactions and streamline accessibility.

Even though the the wallet is a separate product from the Coinbase exchange, users who have an account in both can easily link them, enabling quick crypto purchases. What is more, the Coinbase wallet is the best choice for Base users, as it's the Ethereum layer 2 network created by Coinbase.

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3. Ledger Nano S Plus

The Ledger Nano S Plus, launched in 2022, is the third product in Ledger’s hardware wallet lineup, following the Nano S and Nano X. Compared to browser and mobile wallets, it offers superior security by storing private keys offline, protecting users from hacks and phishing attacks.

Priced at $79, it provides a cost-effective solution for long-term investors seeking maximum asset protection. The USB-C Ledger device comes in six colors and supports 5000+ coins besides ETH and the popular ERC-20 tokens on the Ethereum blockchain.

Additionally, through Ledger Live, users can track their portfolio, buy crypto with credit or debit cards, swap coins, or stake Ether and liquid staking derivatives to earn yield. Available on both desktop and mobile, Ledger Live provides a gateway to DeFi beyond just cold storage.

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4. MyEtherWallet

MyEtherWallet (MEW), founded in 2015, is one of the oldest and most trusted Ethereum-native wallets (hence the name). MEW offers a wide range of features, including token swapping, NFT management, and 32 ETH staking at up to 4.0% APR or no-minimum liquid staking at up to 3.6% APR.

MEW supports ETH and virtually all tokens on the Ethereum layer 1 network, allowing anyone to participate in a broad range of projects. Users can access MEW through the web, a mobile app, or the Enkrypt browser wallet, ensuring flexibility across devices.

Its focus on privacy, hardware wallet compatibility, and lack of personal data tracking make it appealing to security-conscious users. MEW also enables access to other decentralized networks and bridges assets between popular blockchains, expanding its scope.

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5. Trust Wallet

Trust Wallet, launched in 2017 by Viktor Radchenko, has grown to become the most downloaded Web3 wallet on Android, with over 50 million downloads and a 4.5-star rating. As a leading self-custody multi-chain platform, Trust supports 10 million assets across 100+ blockchains.

The wallet ensures true ownership of assets, as only users have access to their private keys and recovery phrases. Enhanced security features include encrypted cloud backups and proactive alerts for risky transactions or dApp connections.

With zero personal tracking, including no collection of IP addresses, and ISO-certified independent audits, Trust Wallet provides a secure, versatile, and transparent solution for managing digital assets. As a final bonus, it's easy to say that Trust Wallet has one of the best interfaces for a crypto app.

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What is an Ethereum Wallet?

An Ethereum wallet is a digital or hardware tool that lets users store, send, and receive Ether as well as Ethereum assets such as tokens and NFTs. It also supports interactions with decentralized exchanges, lending protocols, and other DeFi applications.

These wallets are often referred to as ERC-20 wallets as well because they support ERC-20 tokens, which are standardized tokens on the Ethereum blockchain. There are several types of Ethereum wallets, including hardware wallets, mobile wallets, and web wallets.

Hardware wallets, like Ledger and Trezor, offer high security by storing private keys offline. Mobile wallets, such as Coinbase Wallet and Trust Wallet, provide convenience, while web wallets like MetaMask allow users to interact with the Ethereum L1 network directly from their web browsers.

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How To Choose The Best Ethereum Wallet

Choosing the best Ethereum wallet depends on your specific needs and preferences. Here are some key factors to consider:

• Security: Look for wallets that offer security features, such as hardware wallets that store private keys offline, or at least a software wallet with strong encryption and backup options.
• User Experience: Ensure the wallet has a user-friendly interface and is easy to navigate. Wallets like MetaMask and Trust Wallet are quite easy to get the hang of.
• Compatibility: Check if the wallet supports the tokens and dApps you plan to use. Some wallets are better suited for specific purposes like those provided by NFT marketplaces.
• Control: Decide whether you want a custodial wallet (where a third party like an exchange manages your private keys) or a non-custodial one (where you have full control).
• Accessibility: Consider whether you need a mobile wallet for on-the-go access or a desktop wallet for more extensive features (e.g., Exodus, Atomic Wallet).
• Additional Features: Look for wallets that offer extra functionalities, be it staking, swapping, or integration with decentralized finance platforms.

For the most secure way to interact with Ethereum, we suggest a three-way system similar to our recommended strategy for Solana wallets. This includes a secure hardware wallet for long-term holdings, a mobile one for interacting with trusted dApps, and a burner MetaMask for riskier plays.

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Best Multisig Wallet for Ethereum

A multisig (multi-signature) wallet is a type of cryptocurrency wallet that requires multiple private keys to authorize a transaction, adding an extra layer of security. For Ethereum, Gnosis Safe is a top choice, offering robust security and user-friendly interface, ideal for teams and DAOs.

Ledger Nano X is another excellent option, providing top-notch security for long-term storage. For a non-hardware alternative, Rabby Wallet stands out with its support for Ethereum and all EVM chains, making it a versatile and secure choice.

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How to Secure Your Wallet

Securing your Ethereum wallet is important to protect your digital assets. Here are some essential steps to optimize your wallet's security:

1. Enable Two-Factor Authentication (2FA): Adding an extra layer of security by requiring a second form of verification can greatly reduce the risk of unauthorized access.
2. Create Strong, Unique Passwords: Use complex passwords that are difficult to guess when setting up your wallet for quick access on your browser, smartphone, or Ledger device.
3. Regularly Update Your Wallet Software: Ensure you have the latest security patches and updates to protect against known vulnerabilities.
4. Backup Your Wallet: Keep a secure backup of your wallet's seed phrase or private keys in multiple locations. Avoid storing backups digitally to prevent them from being hacked.
5. Be Cautious with Phishing Attacks: Always double-check URLs and avoid clicking on suspicious links. Verify the authenticity of websites before signing transactions with your Web3 wallet.

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Bottom Line

Ethereum wallets are becoming more user-friendly and feature-rich, making it easier for everyone to manage their digital assets. Whether you're a beginner or a seasoned crypto user, there's a wallet out there that fits your needs perfectly and hopefully you found it in this article.

Looking ahead five years, Vitalik Buterin envisions wallets functioning as smart contracts, allowing for simple cross-chain transactions, automatic gas fee management, and security through social recovery and multisignature setups, appealing to millions of new crypto users.