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Ethereum has emerged as one of the most vibrant blockchain ecosystems in the digital asset market. The smart contract-enabled layer-1 blockchain enables users to interact with a wide range of decentralized applications (dApps), ranging from decentralized finance (DeFi) protocols and play-to-earn (P2E) games to NFT (non-fungible token) marketplaces and more.
To take part in the Ethereum ecosystem and securely store, send, and receive Ether (ETH) and other Ethereum-based crypto assets, you need an Ethereum wallet. Additionally, most of the best Ethereum wallets in the market also allow you to access Ethereum decentralized applications by connecting your wallet to the dApps’ smart contracts.
Best Ethereum Wallets of 2023
While all leading cryptocurrency wallets provide a high level of security for safekeeping your crypto assets, improper security practices on behalf of the user can lead to a complete loss of funds. Crypto enthusiasts should take care to store the bulk of their assets meant for trading on exchanges using cold storage methods, and never share your wallet’s login details, recovery phrase, or private keys with anyone.
Best for Security : Guarda Wallet
Guarda Wallet has established itself as a highly secure, multi-asset crypto wallet that enables users to securely store, send, and receive Ethereum (ETH) and Ethereum-based tokens.
Supports 400,000+ assets across 50+ blockchain networks
Enables users to earn, borrow, and swap crypto
High-quality customer service
High in-app crypto purchase fees
Guarda Wallet was launched in 2017 by blockchain solutions company Guardarian OÜ. With offices in Tallinn, Estonia and Lisbon, Portugal, the Guarda Wallet team has built one of the leading cryptocurrency software wallets on the market by providing a secure, feature-rich wallet that both beginners and advanced crypto users can utilize.
Guarda Wallet is a multi-platform wallet that enables users to access their coins and tokens on mobile (iOS and Android), on a web application, via a desktop application, and using a Chrome browser extension.
Additionally, Guarda Wallet is a non-custodial wallet, which means users have complete control over their funds, and the company cannot access user funds. Moreover, there have been no reports of security breaches at Guarda Wallet, thanks to the robust security features that have been put into place to safeguard user funds.
In addition to Ethereum (ETH) and Ethereum-based tokens, Guarda Wallet users can store, send, and receive 400,000+ crypto assets across 50+ blockchains. Using the Guarda Chrome extension, users can also interact with Ethereum-based dApps.
Guardarian OÜ is licensed in Estonia, enabling it to provide regulated virtual currency services, such as fiat-to-crypto purchases and prepaid card-related services.
Guarda Wallet is an excellent crypto wallet for investors looking to store a wide range of assets in a highly secure software wallet.
Read the Full Guarda Wallet Review
Best for Beginners : Exodus
Exodus Wallet is a beginner-friendly, multi-asset cryptocurrency wallet that enables investors to securely manage Ethereum (ETH) and a range of Ethereum-based tokens, including NFTs, in one place.
Supports a wide range of Ethereum-based tokens
Enables users to earn staking rewards
In-app asset swapping
Not an open-source wallet
Exodus Wallet was launched in 2015 to enable crypto investors to securely store and manage their crypto investments.
In addition to supporting 290+ digital currencies and tokens, the Nebraska-based company also enables users to manage their Ethereum-based NFTs as well as NFTs on Solana and a handful of other networks.
Exodus users can also earn staking rewards, obtain interest payments by depositing their assets in a DeFi lending protocol, and trade cryptocurrencies on the wallet’s built-in exchange.
The popular multi-currency wallet stands out for having an exceptionally user-friendly desktop application that doesn’t overcomplicate an already complex space. The beginner-friendly user experience is also replicated in the Exodus mobile wallet, which makes managing your crypto on-the-go easy and accessible.
Exodus is an excellent Ethereum wallet for beginners looking to expand their crypto investments beyond Bitcoin.
Read the Full Exodus Wallet Review
Best for Convenience : MetaMask
MetaMask is one of the most popular Ethereum wallets in the market, with over 30 million users globally utilizing the wallet to manage their Ethereum-based assets and interact with dApps in the Ethereum ecosystem.
Supports all Ethereum tokens
Access to decentralized applications
Doesn’t support Bitcoin
MetaMask was launched in 2016 by New York-based Ethereum development company Consensys to enable Ethereum users to securely store and manage their Ethereum-based tokens.
MetaMask is a non-custodial wallet that supports Ethereum and a wide range of EMV-compatible blockchains, enabling crypto users to explore web3, NFTs, and the DeFi market using one single wallet.
Available as a browser extension for Google Chrome browser and as a mobile wallet for iOS and Android, MetaMask has managed to establish itself as one of the go-to wallets for Ethereum users around the world. In addition to the Chrome extension, it supports use in the Chrome browser, Firefox, Brave, Edge, and Opera browsers.
MetaMask enables users to buy Ethereum (ETH) and other Ethereum tokens with fiat currency and allows users to swap tokens directly within the app by taking them into decentralized trading pools.
MetaMask is an excellent wallet for first-time Ethereum users who want to explore the world of NFTs, DeFi, and dApps using a user-friendly wallet.
Read the Full MetaMask Review
Best for a Wide Variety of Assets : Trust Wallet
Trust Wallet is a popular multi-asset mobile crypto wallet that supports over 4.5 million digital assets across 65+ blockchains. Additionally, Trust Wallet comes with a mobile dApp browser that enables users to explore the Ethereum dApp ecosystem, including DeFi and NFTs, on the go.
Easy-to-use mobile wallet
Supports over 4.5 million digital currencies and tokens
Access decentralized applications on the go
Fiat on-ramp and token swapping
No desktop wallet
Trust Wallet was launched in 2017 with the primary purpose of enabling crypto investors to store all their initial coin offerings (ICO) tokens in one wallet. At the time, the vast majority of ICOs were taking place on Ethereum, resulting in Trust Wallet’s initial focus on the leading smart contract network.
A year later, Trust Wallet was acquired by Binance, and later started to add support for further blockchains to enable investors to store and use a wide range of digital currencies and tokens on the go.
Trust Wallet enables users to buy and swap crypto directly within the app and provides an in-app staking feature that currently allows users to earn staking rewards for 12 cryptocurrencies.
Moreover, users can access Ethereum dApps using the mobile dApp browser and manage their Ethereum and Binance Coin (BNB) Smart Chain NFT collections.
The non-custodial wallet gives users complete control over their funds as the company doesn’t have access to users’ private keys, ensuring a high level of security and privacy for Trust Wallet users.
Trust Wallet is most suitable for crypto users and investors who want to manage all their digital assets in one easily accessible place.
Read the Full Trust Wallet Review
Best for Smart Contracts : Myetherwallet (MEW)
Extensive smart contract functionality
Supports all Ethereum tokens
Ethereum NFT support
In-app asset swapping
Somewhat advanced for beginners
MyEtherWallet was launched in 2015 to provide Ethereum users with an open-source, client-side interface that enables them to interact with the Ethereum ecosystem.
In the early years of Ethereum, Los Angeles-based MyEtherWallet managed to become the go-to Ethereum wallet, especially for ICO investors looking to store multiple ERC-20 tokens in one wallet.
Today, MEW allows users to deploy smart contracts, trade Ethereum-based assets, stake Ethereum (ETH), manage their NFT collection, and store all their Ethereum tokens in one place.
Additionally, MEW also supports a selection of EVM-compatible blockchains. An EVM-compatible blockchain allows developers to create smart contracts that are compatible with the Ethereum Virtual Machine (EVM) to facilitate blockchain interoperability by enabling dApps to be easily deployed on other blockchains as well. Moreover, crypto assets stored on EVM-compatible blockchains can typically be transfers to other EVM chains via cross-chain bridges. Leading examples of EVM-compatible chains include BNB Smart Chain and Polygon.
MyEtherWallet is ideal for more advanced users who are fully immersed in the Ethereum ecosystem.
Read the Full MyEtherWallet Review
Choosing the best Ethereum wallet for you depends on your needs as an Ethereum user or investor. If you want to actively interact with Ethereum-powered decentralized applications online, you probably want to go with the MetaMask or Guarda browser extensions.
Conversely, if you prefer to access dApps, DeFi applications, and NFT marketplaces on the go, Trust Wallet is probably the better option.
On the other hand, if you are actively managing your crypto portfolio and want to invest in the top Ethereum-based tokens, Exodus Wallet, with its built-in exchange, could be the right option for you.
Finally, if you are looking for a more advanced wallet that enables you to deploy Ethereum smart contracts, MyEtherWallet is your best choice.
Compare the Best Ethereum Wallets
|Asset Type||Number of Currencies Supported||NFT Support||Incorporated Exchange||dApp Support||Compatible Hardware|
|Guarda Wallet Best for Security||400,000+||Yes||Yes||Yes||Yes|
|Exodus Wallet Best for Beginners||290+||Yes||Yes||Yes||Yes|
|MetaMask Best for Convenience||ETH and all ETH based cryptocurrencies and tokens||Yes||Yes||Yes||Yes|
|Trust Wallet Best for Wide Variety||4,500,000+||Yes||Yes||Yes||No|
|Myetherwallet Best for Smart Contracts||ETH and all ERC-20 tokens plus additional cryptocurrencies and blockchains via an extension||Yes||Yes||Yes||Yes|
Want to learn more about digital currencies? You're not alone.
Most adults have a beginner's understanding of cryptocurrency, but plan on using such assets as a key source of retirement funds, according to the 2022 Investopedia Financial Literacy Survey.
What Makes a Great Ethereum Wallet?
An excellent Ethereum wallet should provide a high level of security, be user-friendly, and allow users to interact with the entire Ethereum ecosystem.
To be more specific, an Ethereum wallet should be non-custodial, enabling you to hold your own private keys to give you complete control over your funds. Moreover, despite the technical knowledge that is required to buy, store, and use cryptocurrency, a wallet should make the process as simple and beginner-friendly as possible.
Additionally, an Ethereum wallet should allow you to store all types of Ethereum-based tokens, including ERC-20 tokens, like Ether (ETH), and NFTs. And finally, it should provide you with the ability to interact with decentralized applications (dApps), such as DeFi protocols and play-to-earn (P2E) games, within the Ethereum ecosystem.
Frequently Asked Questions
What Is Ethereum?
Ethereum is a distributed peer-to-peer computing platform that enables developers to build smart contract-powered decentralized products and services.
Founded in 2013 and launched during an initial coin offering (ICO) in 2015, Ethereum has established itself as the second-largest crypto network after Bitcoin, and the leading smart contract-enabled layer-1 blockchain.
How Is Ethereum Mined?
Instead, validators now stake a share of their ETH tokens by depositing them into a validator program to help secure the network and validate transactions.
What Is Ethereum Staking?
Ethereum users have the ability to stake ETH tokens to take part in the protocol’s consensus mechanism in exchange for staking rewards paid in ETH.
To start staking Ether, you will need a minimum of 32 ETH. However, there are also liquidity staking providers that enable you to take part in Ethereum staking with less than the required minimum to become a full validator.
How Can Someone Buy Ethereum?
You can buy Ether (ETH) on a wide range of crypto exchanges using different payment methods, including wire transfer, debit card, and credit card.
One of the most important things to consider before you transact in and store Ethereum is that you have a suitable Ethereum wallet in place. To help determine the wallet that works best for you, we conducted a comprehensive review process of the top Ethereum software wallets. With your digital holdings at stake, the most crucial consideration is the reputation and security of the wallet you choose. Our top Ethereum wallets were selected after we reviewed 24 companies based on their security, reputation, features, fees, and customer service.