Having discussed the top 5 Ethereum mining pools, it is just the right time to find out what is the Best Ethereum wallet in 2017.
AtoZForex – There is no doubt you are already familiar with Ethereum – this relatively young cryptocurrency grows its popularity by the day. Even governments are interested in the Ethereum technology. Such as the Russian President meeting the Ethereum founder. All of these show that possibilities for cryptocurrencies and the blockchain are endless.
What is the Best Ethereum wallet in 2017?
In our previous educational articles, we have discussed basics of Ethereum mining. Together, we went over the key moments that need attention when you plan to mine Ethereum:
As we mentioned in our previous educational articles about Ethereum, in order to properly mine Ether, you will need Ethereum mining software and hardware, maybe join an Ethereum mining pool, and have an Ethereum wallet. We have discussed most of the points already. Now, let's find out what is the Best Ethereum wallet in 2017?
Top 5 Ethereum Wallets in 2017
Though, I'd like to get just one provider as the best Ethereum wallet in 2017, I could not chose the best ONE. So ended up summarizing my top 5 favorites.
Therefore, today, I want to draw your attention to the Top 5 Ethereum Wallets in 2017. To keep things simple, like other cryptocurrencies, Ethereum is a digital currency. Thus, you need to understand technology a little bit in order to utilize Ethereum benefits.
I suggest reading my previous articles about Ethereum prior to getting your hands on this one. Before we answer the question "What is the Best Ethereum wallet in 2017?", let’s start with basics.
Why do you need an Ethereum wallet?
I hear you asking - "DO I NEED AN ETHEREUM WALLET?"
The best and most straight forward answer to this question is the following:
"Yes, you need an Ethereum wallet to store your Ethers in it."
Needless to say, you need to make sure you are using a reliable Ethereum wallet. Fraudsters are getting smarter and also apply new technologies to their schemes to mislead investors. Just like that, if you are not careful enough, you can store your precious Ethers in a wrong kind of Ethereum wallet. This can be very dangerous! You can lose your Ethers if and when things go wrong.
Coinbase Ethereum wallet review
Coinbase is a digital asset exchange company, which operates Bitcoin, Ethereum, and Litecoin exchanges. With that, Coinbase Ethereum wallet is simple to set up and easy to use. However, there are some points you need to be aware of:
- Coinbase has the private key of the Ethereum wallet. This implies that you do not have the full control of your wallet, and Coinbase has the right to shut your Ethereum wallet down. For instance, Coinbase has already shut Ethereum Wallets down before due to the illegal activity they were used for.
- Coinbase Ethereum wallet does not support Ethereum Classic.
Exodus Ethereum wallet review
Exodus is a Bitcoin and Altcoin desktop wallet. The application features intuitive and practical interface. Bear in mind that Exodus is not a 100% open source. Many of wallet’s components are open source, but some are not. This implies that the code is not reviewed fully by the community.
Just like Coinbase, Exodus Ethereum wallet does not support Ethereum Classic. However, unlike Coinbase Ethereum Wallet, Exodus leaves the control of the private key of your accounts to you. Thus, you have full control and responsibility of your Ethers on Exodus Ethereum Wallet.
Jaxx Ethereum wallet review
Jaxx Ethereum wallet is a newcomer on the market. However, it seems to be a well thought Bitcoin and Altcoin wallet. It is available on both desktop and mobile. The interface provided by the Jaxx Ethereum wallet is simple and intuitive.
Unlike our first two presented wallets, Jaxx supports both ETH and ETC. In addition, you private wallet keys belong only to you and are securely stored on your Jaxx Ethereum wallet. Jaxx Wallet is not an open source, yet the code is freely available on the website, which makes it quite easily accessible for review.
ETHAdress Ethereum wallet review
If you are willing to store you Ethers offline, you can print out an Ethereum paper wallet via ETHAdress Ethereum wallet. ETHAdress is an open source project that is capable of creating Ethereum paper wallets for you. You can create private and public keys just with a click of a button on ETHAdress Ethereum wallet. Then, you can print out this information and store it whenever you wish so that no online hacker will get his hands on your Ethers.
There is also an option to encrypt your private key. Bear in mind that you will need to remember the password to able to decrypt the key to have an access to your wallet.
ETHAdress Ethereum wallet supports only ETH, no ETC. In case you want to transfer your coins to someone, you need to import the keys into the online wallet (any of the above candidates). Only then, you will be able to use them.
MyEtherWallet Ethereum wallet review
MyEtherWallet is a project that provides you with an opportunity to create, send and receive Ethers. However, you have no control over your private keys in MyEtherWallet Ethereum wallet. During your first visit to MyEtherWallet, you will need to choose the activity you intend to perform: to generate a wallet, send Ethereum or any other option.
In case you generate a wallet, MyEtherWallet will create a public-private key. It will be secured by a password that you will choose. Then, you will get a downloadable file with that key. If you want to send Ethereum from this MyEtherWallet Ethereum wallet file, you will need to upload it to the website. MyEtherWallet Ethereum wallet does not support ETC.
What is the Best Ethereum wallet in 2017 in your opinion? Share with us in the comments section below.