Cryptocurrencies have come a long way since the early days of Bitcoin (BTC) where tokens were freely exchanged like favors. Nowadays, the cryptosphere is deadly serious business with Bitcoin prices breaking into the mid five figure range.
While Bitcoin may be the gold standard when it comes to crypto, not much focus has been given to the most famous altcoin; Ethereum (ETH).
Created by Vitalik Buterin in 2015, Ethereum offers significantly more utility to users when compared to Bitcoin. While not as highly valued as Bitcoin, it’s clear to see that there is potential for Ethereum to grow exponentially.
Because of this, cryptocurrencies are a prime target for hackers and thieves looking to get their hands on some of that sweet, sweet crypto.
If you’re looking to start investing in ETH, you need to ensure that your assets are kept safe at all times. The first thing you need to do is to understand how Ethereum and other crypto assets are stored.
Hot wallets are online only services that store and encrypt your cryptocurrencies online. These are the most common types of wallets.
While convenient, they are not exactly 100% secure. They are susceptible to hack attacks and users of hot wallets are regularly targeted by scammers.
Because of the vulnerabilities that hot wallets have, many crypto investors use cold wallets i.e. hardware wallets to safely store their assets.
Cold wallets are not connected to the internet – thus making them impossible to hack into (when not connected to a computer). Also, they can be physically secured and locked away, providing an additional layer of security.
Now that you understand how crypto wallets work, let’s take a look at the best Ethereum wallets available in 2021.
Take a step into the future with the Ledger Nano X.
Where previously crypto wallets were split into hot and cold wallets, the Ledger Nano X offers users the best of both worlds.
With the Ledger Nano X you can safely store your tokens on an external pen drive while still having easy access to them with the Ledger app.
- Lets you store your ETH tokens on a mobile pendrive that functions as a hardware wallet.
- Comes with an app to manage, buy, sell, or make payments with your cryptos.
- Supports different cryptocurrencies such as ETH and BTC.
Sometimes, the simplest measures are the best and this is what the Ledger Nano S brings to the table.
The Ledger Nano S is an affordable method of storing your ETH tokens. With its portable size and OLED screen, you can take your ETH on the road with you.
- Hardware wallet that stores tokens on a pen drive
- Supports all types of cryptocurrencies
Trezor has the distinction of being the first manufacturer of Bitcoin wallets. With that kind of experience, it would be foolish to ignore any of their wallets.
The Trezor Model T supports all types of cryptocurrencies including ETH and offers top-tier data encryption services to keep your tokens out of the hands of any would-be thieves.
Besides being a hardware wallet, all Trezor wallets can interface with a desktop app that allows you to send, receive, and perform transactions. All while your ETH is safely stored away in a cold wallet.
- Stores ETH tokens on an external pen drive
- Desktop application lets you send, receive, and perform transactions
- Supports multiple cryptocurrencies
And there you have it; a selection of the best Ethereum wallets to pick in 2021. You can visit blog.tezro.com/best-ethereum-wallets/ to find alternative Ethereum wallets to store your crypto.
Investing in a good wallet is all well and good – but always remember to practice good security hygiene and stay alert.