There’s no doubt about it – Ethereum is going up and up, and with the second largest market cap after Bitcoin, it’s safe to say it’ll just keep going. With so much interest in the cryptocurrency, there are plenty of Ethereum wallets popping up all over the web. And they don’t all offer the same ease of use, features, and security.
Whether you’re a newbie or a cryptocurrency geek, we’ve gone through and picked out the 7 best Ethereum wallets in Australia for 2018, so that you can choose the most suitable wallet for you to store your coins.
What makes a good Ethereum wallet?
You’re probably wondering on what basis we’re judging a “good wallet”, and that’s fair enough. To us, it’s important that your Ethereum wallet has at least the following in order to keep you happy and your coins secure:
- Ease of use – Whether you’re a pro or a newbie, you want something that’s easy to use. One of the things we’re always looking for is a good user experience and interface that’s intuitive and simple.
- Private keys – There are a lot of Ethereum wallets out there that don’t allow you to control your private key. That means that the company can choose to shut down your account at any time, meaning your coins aren’t as secure.
- Backup security – In a digital world, things can be lost forever in just a moment without a good backup system. A good Ethereum wallet, to us, is one with a backup and restore system that gives you peace of mind.
- Compatibility – What if you started out on a PC then switched to a Mac, only to find that your Ethereum wallet isn’t compatible with your operating system? We’re after wallets that are compatible with multiple systems.
So now, in no particular order, here are our 7 top picks for Ethereum wallets in Australia.
Jaxx is a simple and intuitive wallet that can be used to store Ethereum as well as a number of other altcoins. Compatible with both desktop and mobile devices, Jaxx also keeps your private keys stored on your machine, and they are never shared with the public server.
To use Jaxx to store your Ethereum, you’ll want to have the currency already set up before installing the program. Then just choose the currency from the top menu and it’ll display your Ethereum address.
MetaMask takes Ethereum wallets to another level, allowing you to not only store and send your Ethereum coins, but also access other decentralised Ethereum apps. With an easy-to-use, intuitive user interface and design, MetaMask kind of works like a browser that allows you to tap into the entire Ethereum network.
Best of all, your private keys are all encrypted and stored on your device, available for export at any time. Watch this video for more information on how it works.
The first multi-cryptocurrency desktop wallet to pop up, Exodus is free, easy-to-use, and has an interface that’s intuitive and nice to look at. You can see your entire portfolio of coins in the form of a colourful pie chart as soon as you open your wallet, and Exodus supports 7 different cryptocurrencies.
With Exodus your private keys are always stored on your machine, however you do need to always be connected to the internet to use the wallet. Exodus also is the first desktop wallet to have ShapeShift built in, allowing you to exchange cryptocurrencies.
How’s this for something different – MyEtherWallet is a completely open-source wallet, with no third-party servers. That means you control Ethereum’s private key on your machine, and write and access smart contracts.
One for those who are more experienced with the world of cryptocurrencies, there’s a built-in feature that allows you to convert Bitcoin to Ethereum and vice versa, and also to connect your Trezor or Ledger Nano S accounts.
Not all wallets are digital. Trezor is a hardware wallet originally invented for Bitcoin, and the first of its kind. You can now also use Trezor for Ethereum as well, using the MyEtherWallet web interface.
Your Ethereum coins are stored offline on a secure electronic chip which can only be accessed after logging in with a password.
The official Ethereum wallet, Mist is downloaded onto your desktop and is synced with other Ethereum nodes. While all your private keys are stored on your device, you must remember the password you used to create your Mist wallet or you will not be able to access it any other way.
The wallet itself is simple and easy-to-use, making it a good option for new users. It works on Mac, Linux, and Windows but isn’t supported on mobile devices. Mist also has ShapeShift built in for exchanging other cryptocurrencies.
More of a traditionalist? You can also store your Ethereum coins on a paper wallet. ETHAddress is an open-source project that makes it easy to create your own Ethereum paper wallet which contains both public and private keys.
A cheap way to have a hard copy of your Ethereum currency stored safe and sound, you can even have your private keys encrypted for extra security.
What is your favourite Etherum Wallet? Please comment below.