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The Best 5 Wallets for Ethereum: Top Picks for 2023

Ethereum is a common name in the cryptocurrency space. Being the second largest crypto asset by market cap, it is an asset many investors look up to. Ethereum’s popularity keeps soaring because it is the blockchain upon which all things decentralized applications and smart contracts are built.

Analysts have predicted that Ethereum could reach $10,000 or even more from today’s price of under $2,000. Unbelievable right? It was also unthinkable for Ethereum to be worth $2,000 in 2019, but here we are.

Something big that could make Ethereum more attractive as an investment as well, is the fact that the SEC has admitted that it is not a security. This, coupled with the likely approval of an ETF, for the asset makes it a future gem.

If you intend to invest in Ethereum, there’s no better time than now, but you’ll need a good wallet to securely hold your ETH. The following are five of the best wallets you can use for your Ethereum when you buy it.

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MyEtherWallet (MEW)

MyEtherWallet (MEW) is a crypto wallet used for storing Ethereum. In fact, it is a wallet designed only for the Ethereum blockchain, so it supports ETH and ERC-20 tokens only. The wallet has high security by design, and you can access it via mobile app, browser extension and other options.

You can also use it as a gateway to your hardware wallets, such as Ledger Nano S etc. As it is a wallet that gives access to the Ethereum blockchain, you can use it to access decentralized applications, swap tokens, as well as carry out transactions on the network.

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It isn’t suitable for beginners though, as it is kind of complex to operate.

Metamask

Metamask is another wallet designed for Ethereum and ERC-20 tokens. Even though it now supports other blockchains such as Binance Smart Chain, it is still one of the best for storing ETH.

It is a much easier wallet to use than MEW, and can be accessed as a browser extension and also as a mobile app. You can synchronize your use of the wallet between the app and the browser extension to make it easier to use. 

It can also be used to access a hardware wallet, making it an excellent choice for those using hardware wallets. 

Exodus 

Exodus is another top choice when it comes to a wallet for Ethereum. You can use it to conveniently secure your ETH stash both on your phone, and on your desktop. Perfectly synchronizable, you can switch between devices as you use the wallet. 

Exodus prioritizes security by regularly updating its app, which also supports hardware wallets. Apart from Ethereum, it also supports a long list of ERC-20 tokens.

OKX wallet

You may have only known OKX as a crypto exchange, but it recently launched a crypto wallet that gives access to the web 3 ecosystem. The wallet has so many unique features that make it particularly attractive to users.

For example, with its “Smart Account” feature, you can pay for USDT and USDC gas fees on multiple chains on the wallet. Of course, it supports Ethereum, since both USDT and USDC are based on the Ethereum blockchain. 

The wallet doesn’t just support Ethereum, but it pays you interest on a variety of DeFi tools. You can access the OKX wallet on the web, as a mobile app, or as a browser extension. Like all the others, OKX wallet is non-custodial, meaning you have full control of your private keys.

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Coinbase

Coinbase exchange also has a crypto wallet separate from the exchange wallet, that is available exclusively as a mobile app. If you’re a beginner, you’ll find this particularly suitable because of its simple design which makes it easily navigable by anyone.

You can buy, sell, send, receive and store your ETH on this app, which is one of the top ones in the space. It also supports hardware wallets, so you can use it to access your Ledger or any other wallet. 


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Steve Burnett

Steve Burnett is a crypto enthusiast and professional news writer with a passion for sharing the latest developments in the blockchain industry. With years of experience covering the crypto space, he has become a trusted voice in the community, offering insightful analysis and breaking news coverage on a daily basis. Steve is dedicated to keeping his readers informed and up-to-date on all things crypto.

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