These days there are many companies offering Ethereum Wallets, which can lead to confusion as for whats the difference and which one is the right for you.

So after reading this post, you should be able to decide yourself what best suits your needs.

First, let me compare some popular wallets from the mobile & PC platforms. In addition, I’ll add my opinion for each one. As always I have tested and used all of them.


Mist(Windows, Mac Os, Linux)

Pros:

  • Allows multiple wallets in one app
  • Erc20 Tokens supported
  • Official Ethereum Wallet
  • Allows for contract creation
  • Allows to change gas prices
  • Users hold all keys
  • Able to run on testnet
  • Fully detailed transaction history

Cons:

  • Only on PC
  • Downloads whole blockchain
  • Can be confusing for new users
  • Tokens have to be manually added to be recognized

As a Developer or core user, you won’t get around using Mist. Its contract creation is crucial to deploy new Dapps. As the official wallet, it is updated recently and open source. I would recommend this to any Advanced users or people looking for the most versatile solution.


Jaxx Wallet(IOS & Android)

Pros:

  • Multicurrency wallet(supports: ETH, BTC, Dash, Zcash)
  • Some erc20 tokens supported
  • User can change gas prices
  • User holds all keys
  • No need to download full blockchain
  • Detailed transaction history(Timestamp, value, Txn address, confirmations)

Cons:

  • Only features a handful of tokens
  • Can be slow

Jaxx is so easy to get into, its variety of coins have a huge appeal to many people as they just have to use one wallet for all.

I would recommend Jaxx to any new users looking only to hold any major currencies like ETH BTC Zcash etc.


Lykke Wallet (iOS & Android)

Pros:

  • Included Exchange (ETH, BTC, CHF, TIME, LKK, TREE)
  • Allows to buy ETH with SWIFT transfer or Credit Card
  • Private wallet (ETH&BTC user holds all keys)
  • Exchange multisignature-wallet(user and Lykke hold keys, both needed for transaction)
  • Easy to use for newcomers
  • Limited transaction history(only shows value and date)
  • Allows to import wallets
  • Allows to create a cold wallet(receive only address – until you unlock it)

Cons:

  • No erc20 Token support

Lykke probably the most beautiful and user-friendly of them all. The integrated exchange lets you invest in multiple coins from one app.

I would recommend lykke to anyone looking for an easy way to get started right away with only 1 account. (Also its the go-to exchange for any swiss citizens)


Ethereum wallet by Freewallet(ios & android) (Not recommended – just as an example for a bad wallet)

Pros:

  • Easy to use
  • Features a price history graph for ETH
  • Detailed transaction history
  • Easy access via Account(e-mail)
  • Allows to buy ETH with credit card

Cons:

  • Wallet is stored online
  • User holds no private keys
  • Keys stored online = they have control over your money
  • Prone to hacking

Freewallet is a good example why the first thing that pops up on the app store is not always the best thing.

I would recommend Freewallet to no-one.


Blockwallet(IOS & Android)

Pros:

  • Easy setup
  • Allows you to print paper wallet
  • User holds keys
  • Supports erc20 Tokens(have to be manually added)
  • Detailed transaction history ( Txn ID, gas price, gas cost, fee cost, sender & receiver address)

Cons:

  • User cannot configure gas price
  • cannot import existing wallet

The USP of Blockwallet would probably be its ability to print paper wallets.

That’s why I would recommend this wallet to anyone wanting to invest and long-term hold.


Metamask(Google chrome Extension)

Pros:

  • Easy to setup
  • Can be run on testnet
  • Allows user to use Decentralised applications
  • User holds all keys
  • Gas prices and message contents can be adjusted
  • Detailed transaction history
  • Erc20 token support(manually added)
  • Stores all data locally

Cons:

  • Beta software
  • Can be slow at times or crash

Metamask is not your conventional Wallet it’s actually much more than that. Once more Dapps will be released Metamask will become more and more viable as it can talk directly to them.

I would recommend Metamask to any traders and advanced users looking to trade on Decentralised platforms & use other Dapps.


Its Time to choose Your Wallet

The above list should allow you to decide which one fits your needs the best.

The only thing you should ALWAYS make sure for ANY wallet is that you & only you have access to your private keys!

So what did you choose? Let me know in the comments!

I for myself recently moved most funds to Lykke. As a Trader and Developer I also frequently use Metamask & Mist.

Now that you have your wallet its time to fund it! Head over to Part 1 of our “getting started in crypto” series to learn where and how you can buy Ethereum.


If you are still not sure about which one is the right for you, leave a comment down below. I will try to help you out.

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