Best Ethereum Wallet 2022 - Comparewise

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Best Ethereum Wallet 2022

This article covers the best Ethereum wallets in Canada where you can securely accumulate your Ether ETH holdings.

Ethereum is the second-largest cryptocurrency behind Bitcoin, with a market capitalization of over $520 billion and a 24-hour trading volume of more than $28 billion as per CoinMarketCap.

That means more and more investors are flocking the crypto market to pack their portfolios with more Ether.

The all-important question is: where do you store your ETH after buying it? Should you let your Ethereum tokens sit on the exchange?

Well, it’s not advisable to keep more crypto coins than you need on your exchange’s custodial wallet. Crypto exchanges are open to security breaches, and cases exist where people have lost big to hackers.

Thus, you’re better off withdrawing your Ethereum tokens to a safe crypto wallet where you’ve got total control of your private keys.

What is an Ethereum Wallet?

An Ethereum wallet is a hardware, software, or physical paper that allows you to securely store, transfer, and spend your Ethereum tokens. 

It’s like your bank account that carries your fiat currency. A crypto wallet stores your public and private for your crypto tokens. 

A public key is like your bank account, and you can give it to anyone who wants to send you some crypto coins. 

However, the private key is a different ball game. It’s like your ATM PIN. If anyone gets hold of it, they can milk your crypto account dry and make away with all your digital assets.

That’s where crypto wallets come in to help you securely store your Ethereum tokens and other digital coins. There are different types of crypto wallets, including:

  • Hardware wallets
  • Software wallets
  • Paper wallets

Each one of these has its pros and cons, and the type of Ethereum wallet you choose depends on how much ETH you want to store, plus how quickly and frequently you want to access your coins.

What to Look for In an Ether Wallet

Here’s a list of things you should consider when deciding between hardware, software, and paper-based Ethereum wallets in the market.

  • Security: Choose a hardware or software wallet that supports 2FA. If it’s a web-based Wallet, make sure your keys are encrypted.
  • Backups: Choose wallets that allow you to back up your data regularly.
  • Development record: Work with companies that provide regular system upgrades.
  • Total control over your private keys: Look for non-custodial wallets that give you full control of your private keys.
  • Ease of use: Consider a wallet that offers user-friendly interface that’s easy to navigate
  • Smart contract functionality: The best Ethereum wallets should allow interactions with decentralized applications (dApps) on the Ethereum blockchain.
  • Coins supported: Consider other cryptocurrencies supported by the wallet. Does it support all other Ethereum ERC-20 tokens?

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Advertiser disclosure

Offers shown here are from third-party advertisers. We are not an agent, representative, or broker of any advertiser, and we don’t endorse or recommend any particular offer. Information is provided by the advertiser and is shown without any representation or warranty from us as to its accuracy or applicability. Each offer is subject to the advertiser’s review, approval, and terms. We receive compensation from companies whose offers are shown here, and that may impact how and where offers appear (and in what order). We don’t include all products or offers out there, but we hope what you see will give you some great options.

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May 7, 2022
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