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Zengo

Zengo
Wallet App
$10
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  • Get $10 cash back on 1st purchase
  • Earn up to 8% yield on crypto
  • Compatable with 70+ coins
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KeepKey

KeepKey
Hardware Wallet
$49
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  • Limitless wallet addresses
  • Compatable with 40+ coins
  • Store private keys offline
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Trezor Model One

Trezor Model One
Hardware Wallet
$69
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  • Supports 1000+ coins
  • User-friendly design
  • Get set up in 10 minutes
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Ledger Nano S

Ledger Nano S
Hardware Wallet
$114
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  • High-quality design
  • High level of security
  • Regular software updates
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Trezor Model T

Trezor Model T
Hardware Wallet
$249
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  • Compatable with 1,500+ coins
  • Open source code for max security
  • Great user experience
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Ledger Nano X

Ledger Nano X
Hardware Wallet
$199
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  • 1300+ crypto assets & tokens
  • Strictest hardware wallet security
  • Use with a phone & bluetooth
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Coinbase

Coinbase
Wallet App
$16
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  • Insured up to a max of $250k
  • Supported in 100+ countries
  • Crypto stored securely offline
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Guarda Wallet

Guarda Wallet
Web-based Wallet
Fee-free
Crypto Storage
  • Store 400,000+ coins
  • Supports 50+ blockchains
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Best Ethereum Wallet (November 2022)

It’s no secret that cryptocurrency has fast become one of the most popular investment assets worldwide. Bitcoin has dominated the cryptocurrency market for years, but now Ethereum is currently the second-most-popular cryptocurrency in existence, which means that a lot of people are rushing the market and trying to learn more about it.

If you’re one of those people, then you’re in the right place. In this article we’re going to tell you all about how to use a wallet to protect your cryptocurrency assets, explain what to look for in a wallet, and more. Here’s our Best Ethereum Wallet list.

What is Ethereum?

Of course, if you want to know about the Best Ethereum Wallet, you should first learn about Ethereum.

Ethereum was first introduced in 2016, and it’s since grown to be the second-most- popular cryptocurrency in the world, only surpassed by Bitcoin.

Ethereum has been influential in the cryptocurrency market over the years. Part of the reason for its popularity is due to features such as smart contracts and decentralized apps (dApps). It’s grown to include things like DeFi protocols (Decentralized Finance), NFT marketplaces, tokens, and even blockchain games.

When the Ethereum network chose to replace centrally- controlled apps with decentralized, open-source apps and created a decentralized network, it created a revolution within the cryptocurrency community, and it’s important to know about Ethereum’s decentralized nature when learning about the best Ethereum wallet.

Because of this revolution, people have created tons of dApps, metaverse coins, games and other financial services that are accessible to anyone anywhere in the world, at any time.

Because of Ethereum’s decentralized vision for cryptocurrency, it seems to have changed the very nature and future of things such as art, entertainment, games, and of course finance. This influence over the financial world will only grow in the coming years when it officially launches Ethereum 2.0, as well as its Sharding technology. Because of Ethereum 2.0’s upcoming release, many investors are flocking to Ethereum.

If you’re one of the potential investors who are learning about Ethereum as a new financial asset, then you should learn a bit about different cryptocurrency exchanges, as well as the best Ethereum wallet platforms.

Protecting Your Cryptocurrency Assets

Unfortunately, since Ethereum has gained popularity, the number of hacking events has risen dramatically. In fact, it’s not just Ethereum, but all cryptocurrency. With investors flocking to the cryptocurrency market and funding their accounts to purchase cryptocurrency, it’s really no surprise that hackers are also flooding the market and seeking to steal either funds or assets. So if you’re learning about the best Ethereum wallet platforms, you should also learn about security.

It takes a bit of technical knowledge to learn to invest in cryptocurrency. You’ll need to know about things like computers, networking, cryptography and trading, and some people just aren’t cut out for learning about technical things. But, in order to start investing in cryptocurrency, you should really brush up on the inner workings of the cryptocurrency world so that you know what happens when you buy, sell, trade or store your assets.

Because of this, you’re likely a little concerned and wondering if there’s any way to safely store your cryptocurrency assets. Of course, cryptocurrency is expensive, so you don’t want to leave it vulnerable to theft or cyber attacks. The best way to keep your assets safe is to use a wallet, which is why we’ve created our Best Ethereum Wallet list.

What’s an Ethereum Wallet?

Before we can tell you more about wallets or begin discussing the best Ethereum wallet platforms, you’ll need to know a little about Ether (ETH). Ether (ETH) is the main cryptocurrency token used on the Ethereum Network. Everything on the Ethereum Network is powered by Ether, from decentralized apps and smart contracts to financial transactions.

Ether comes with keys that users can use to access the tokens. Keys are usually a string of encrypted characters that are paired with both a private and a public key. Each Ether (ETH) has both a public and a private key. Wit the public key, users can receive transactions on the network from other users, and the private key lets users gain access to the token and unlock transactions.

With a private key, you can prove ownership of your tokens and gain access to assets that are linked to your public addresses. If you lose your private key, then you can lose access to your account and even your assets. Wallets were introduced because transactions made on blockchain are immutable. That’s why you need to choose the best Ethereum wallet.

Advantages of Ethereum Wallets

Users can utilize some of the best Ethereum wallet types to store, transfer or spend their Ether (ETH), all safely. The best Ethereum wallet options can provide you with a load of features, like handling both private and public keys, as well as a user interface that allows you to conduct important operations and transactions with your crypto assets, check your balance and send money.

The best Ethereum wallet options operate similarly to bank accounts in that they store your assets, but they’re also decentralized and easy to access, unlike banks.

There are lots of different wallet forms, and each one comes with advantages and disadvantages.

Here are some of the types of Ethereum wallets and their pros and cons to help you make a choice about the best Ethereum wallet for you.

TypeProsCons
OnlineFree, easy to get set up, and easy to accessLimited options, and no access to private keys
SoftwareFree, easy to navigate, access to private keysLess secure, manual updates only
MobileFree, easy to get set up, and easy to accessLess secure, limited options
Full ModeFree, easy to get set up, and easy to accessRequires more disk space
HardwareThe safest best Ethereum wallet optionTypically more expensive and less accessible than other options

What is a Paper Wallet?

Paper wallets are the oldest type of non-custodial cryptocurrency wallets. They’re pretty much exactly what they sound like: a key written on a piece of paper. The key is usually created in the form of two separate QR codes, as well as strings of alphanumeric characters generated by a key generator program.

It isn’t terribly difficult to use a paper wallet. All you have to do is follow these steps:

  • Create a wallet address (or addresses)
  • Print your wallet
  • Deposit cryptocurrency coins to the public address

You’ll need to install a digital wallet on your desktop or mobile device as well, which will allow you to import private keys. (A good example of such a program is Electrum).

Here are the pros and cons of paper wallets:

Pros

  • Cost-efficient
  • Easily created
  • Secure type of cold storage wallet

Cons

  • Paper wallets aren’t suited to holding large amounts of coin assets
  • If you mess up your keys then you can lose access to your funds
  • If someone gains access to your wallet then they can steal the coins because they have the private keys
  • It’s difficult to bring funds back online and restore them
  • Paper wallets are vulnerable to damage (like fire or water) or being lost

Because they’re another type of wallet, we felt we should mention them in our Best Ethereum Wallet article, but we can’t totally endorse their use.

What to Look for in the Best Ethereum Wallet Platforms

There are lots of factors to consider when you’re choosing the best Etherum wallet. Of course, this is the device, software or app that will store your cryptocurrency assets. It also acts as the interface that you interact with your Ether (ETH), and is how you monitor, spend and otherwise conduct financial transactions. That means choosing the best Ethereum wallet is a big decision that will impact every aspect of your cryptocurrency assets.

Here are a few things you should consider when choosing the best Ethereum wallet:

Security

If you’re looking for the best Ethereum wallet, then security should be one of your top concerns. Of course, one of the reasons you’ve chosen to use a crypto wallet is to securely store your cryptocurrency assets. Some of the security features you should look for include 2FA (2- Factor Authentication), encrypted keys and a way to protect and store your keys.

If you have the option to pay more for a wallet that offers more security, as opposed to paying less for a wallet with fewer security features, you should always choose more security. Even if it means that you have to pay more, choosing security over low prices will keep your cryptocurrency assets safer in the long run.

Development Record

The best Ethereum wallet options are basically open-source hardware or software that you can use to secure your cryptocurrency assets. Because of their very nature, most users of Ethereum wallets trust them to do their jobs and keep their assets secured without exposing users to viruses, hacker attacks, theft and other misfortunes.

This is why you should check to make sure that the people that developed your Ethereum wallet are trustworthy. You can do this by choosing a wallet whose developers regularly put out updates and patches, and have a shining developmental track record.

Control Over Your Keys

Most people decide to use one of the best Ethereum wallet platforms because they want to maintain custody of both their Ether (ETH) and their keys (both public and private). There are loads of custodial wallets on the market, which means that they maintain control of your keys.

If you want control of your keys, then you should choose one of the non-custodial options on our best Ethereum wallet list. This means you’ll have complete control over both your keys and your cryptocurrency assets.

Ease of Use and Accessibility

It can be quite difficult to learn how to navigate through various cryptocurrency networks and learn your way around the crypto world. It typically requires investors to learn a little about both the computing and cryptographic fields.

But apps and wallets can make navigating crypto networks and learn about cryptocurrency a lot easier. If you’re trying to choose the best Ethereum wallet for you, then you should choose one with a simple interface and easy-to-use features, as well as one that’s easy to access from various devices or platforms.

In other words, if you choose to use your wallet on both your computer and a mobile device, you should find one that supports that, as well as one with multiple platform support so that you can use it on web browsers, desktop apps, and Android devices.

Smart Contract Functionality

One of the most popular and widely-used features of Ethereum, other than their decentralized apps (dApps), metaverses, games and marketplaces is their smart contracts. Everything on the Ethereum network is run by smart contracts.

Because of this, the best Ethereum wallet platforms are compatible with smart contracts, as well as protocols and platforms that are run by them. To choose a wallet to store Ethereum in that doesn’t support smart contracts is extremely limiting yourself.

Token and Coin Compatibility

One of the things you want to research when you’re looking for the best Ethereum wallet is the amount of crypto coins and tokens the wallet supports. The more coins and tokens that a wallet supports is a good indication that it’s a successful platform that’s compatible with any sort of coin or token you want to invest in, and that it’s highly accessible.

So, the more coins a wallet supports, the better off you’ll be in the long run. You’ll notice that many of the entries on our Best Ethereum Wallet list have thousands of supported cryptocurrencies.

Best Ethereum Wallet List

It was difficult to narrow our list down to only a few of the best Ethereum wallet options because of the vast number of wallets to choose from these days. But you can rest assured that the wallets on this list are, in fact, the best of the best and we’ll explain why.

Ledger Nano X

  • Transfer and receive 1300+ crypto assets and tokens
  • Satisfies the strictest criteria for hardware wallet security
  • Option to use it with your phone using Bluetooth
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Ledger Nano X

Wallet Type: Hardware
Cost: Around $150
Ease of Use: Advanced

Okay, so as you can see with our at-a-glance specs, the Ledger Nano X is a hardware wallet. It doesn’t come with its own integrated exchange and it’s a little tricky for beginners.

However, Ledger is a trusted name in cryptocurrency wallets since they’ve basically pioneered the industry. This means that they provide security that can only be beaten by custodial wallets.

This is a successor to the Ledger Nano S, which was widely popular. Some of the new features included with the Ledger Nano X include Bluetooth and a battery, which both increase functionality and mobility.

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It also allows you to manage more coins at one time than you previously could with the Nano S. And, if you’re a fan of the Nano S, then you’ll be happy to note that the Nano X has similar functionality so you’ll be able to pick up its navigation fairly quickly.

Ledger Nano X Pros

  • It’s a hardware wallet, so it’s difficult to beat its security
  • It’s pretty cost-efficient when compared to some of the pricier wallets on the market

Ledger Nano X Cons

  • It can be confusing and difficult to set up the hardware wallet for the first time, especially if you’re inexperienced.
  • If you strictly use a hardware wallet, then it’s worth noting that it takes some time to move assets to exchange. This can make transactions take longer, and you may even miss out on a few.
  • If you lose the seed phrase that the wallet comes with (which is typically written on a piece of paper), then you’re out of luck if the wallet is destroyed or lost. With no backup options, your cryptocurrency and funds will be destroyed.

Ledger Nano S

  • Made with high-quality materials
  • High level of security for your crypto
  • Regular software security updates
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Ledger Nano S

Wallet Type: Hardware
Cost: $59
Ease of Use: Advanced

There are a lot of great features provided by the Ledger Nano S wallet, but the main one that attracts so many investors is its price tag, and that’s primarily why we chose to put it on our Best Ethereum Wallet list. It’s one of the cheapest hardware wallets you can buy at around $60.

It’s also got loads of security features, like a proprietary operating system and a secure chip. And there’s a plethora of cryptocurrencies that you can store on the Ledger Nano S: over 1,100 cryptocurrencies altogether. (23 are directly supported by Ledger, and even more are supported through third-party applications that you can install.)

Ledger Nano S Pros

  • At only $59, the Ledger Nano S is less expensive than many other cold wallets on the market, which is why we chose to add it to our Best Ethereum Wallet list.
  • Private keys don’t leave the device. You don’t have to write the key down, and no one can access them using the internet. Instead, they’re stored on the device itself.
  • Support for over 1,100 crypto coins and tokens

Ledger Nano S Wallet Parts - Comparewise

Ledger Nano S Cons

  • Limited app storage space. Wallets typically require applications for each cryptocurrency. And unfortunately, the Ledger Nano S only has the storage space to hold around 6 apps, depending on their size.
  • Small display and no touch screen. The screen on this device isn’t even an inch tall. (The device itself is a mere 0.685 inches or 17.4 mm tall.) And there are only two buttons that you can press on it. A touch screen would be far more useful in this instance.
  • Not very mobile-friendly. The Nano S requires a USB cable to connect it to a device or computer. There’s no Bluetooth option. Some people like this because there’s less likelihood of hacking through Bluetooth connectivity, but it does make it more difficult to connect and that’s why we mention the issue on our Best Ethereum Wallet list.

Trezor Model One

  • Super easy setup & easy to use for beginners
  • Extensive functions and security
  • One of the most trusted crypto wallets
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Trezor Model One

Wallet Type: Hardware
Cost: $99
Ease of Use: Easy

Trezor is one of the most trusted names in Crypto wallets because they created the first cryptocurrency hardware wallet, which was originally called the Trezor, but is now named the Trezor One. And as one would expect, the Trezor One doesn’t disappoint because of that, which is why it’s on our Best Ethereum Wallet list.

Many people turn to the Trezor One because of its affordable price, its security features, and its ease of use. It makes an excellent wallet for beginners because it’s not only cheap and easy to use, it comes from a trusted brand.

You can even purchase and exchange cryptocurrency straight through the Trezor Wallet application and you don’t have to sign up with the exchange when you first trade crypto, which is something that other wallets don’t offer, and one of the reasons that the Trezor One is third on our Best Ethereum Wallet list.

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Trezor Model One Pros

  • With prices between $59-$69, the Trezor One has the Ledger Nano X beat on price and matches the Ledger Nano S. It’s also cheaper than the Trezor Model T (more on that later).
  • Easy to use. Beginners can get down to business purchasing cryptocurrency from the app without signing up with the exchange, which is something that other wallets don’t allow for.
  • You can purchase and trade cryptocurrency in the wallet
  • It supports web browser, Android and Desktop OS platforms
  • Over 1,000 different coins and tokens supported
  • Walks you through wallet setup, and the purchase and exchange of cryptocurrency.

Trezor Model One Cons

  • No iOS support
  • There are only a few cryptocurrencies that you can purchase using fiat currencies (other than USD)
  • Unlike some software wallets, it isn’t free

KeepKey

  • Stress-free security & user-friendly design
  • Supports leading cryptocurrencies
  • Limitless wallet addresses on one device
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KeepKey

Wallet Type: Hardware
Cost: $49
Ease of Use: Advanced

If you’re new to cryptocurrency wallets and you came here to learn about the Best Ethereum Wallet, then you should know that KeepKey is in the top 3 most popular brands, along with Ledger and Trezor.

KeepKey is relatively easy for new users to learn, due in part to its sleek design. There’s only one button, so there’s no confusion there. For everything else, you simply use the mobile app.

One thing that’s noticeably different about the KeepKey is that it’s bigger than Ledger or Trezor wallets. An advantage that comes with this is that it has a larger screen. This means that you can see entire cryptocurrency addresses without needing to scroll, which is a nice perk.

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KeepKey Pros

  • It’s a hardware wallet, so it’s nearly impossible for hackers to access.
  • It’s fairly easy to use. It’s not as easy as the Trezor One, but it’s quite easy.
  • Low price
  • Big screen

KeepKey Cons

  • Only 40 cryptocurrencies supported
  • Although it’s got a big screen, it’s difficult to carry around because it’s bulky and heavy.

Trust Wallet

  • Supports 53+ blockchains and 1 million + digital assets
  • Super-secure soft wallet available on mobile and desktop
  • Stake coins to earn interest over time
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Trust Wallet

Type of Wallet: Non-custodial software
Cost: Free
Ease of Use: Advanced

Trust Wallet from Binance was designed to be convenient, and for the most part it is, which is why it’s mentioned on our Best Ethereum Wallet list. Even though it’s a software wallet, it’s non-custodial which means that you’ve got access to your private keys and can move assets as you please.

You can use their app to buy, send, receive and sell different crypto coins and NFTs (Non Fungible Tokens). You really can’t beat Trust Wallet’s price tag, as it’s free, which means that many new users flock to it. There are over 1 million cryptocurrencies supported, as well, which is attractive to many investors.

There are a few downsides to Trust Wallet. For one thing, it’s not great for beginners. Sure, it’s simple to use and to learn, but if you lose your 12- word phrase key then you’re out of luck because customer service can’t help you recover your account without it. And you’re limited to using decentralized apps on their built-in browser.

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Trust Wallet Pros

  • More than 1 million cryptocurrencies supported
  • Easy smartphone setup
  • You can easily buy cryptocurrency though the wallet
  • Interest-earning staking is available on Trust Wallet for 12 different coins

Trust Wallet Cons

  • You can’t recover your account through customer service if you’ve lost your 12- word secret phrase
  • Because it’s a web-based mobile app, the wallet is vulnerable to hacking and cyber attacks
  • You’re limited to using decentralized apps on their built-in browser, as opposed to popular browsers

Trezor Model T

  • Compatible with 1,500+ cryptocurrencies
  • Open source code for a high level of security
  • Great user experience
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Trezor Model T

Wallet Type: Hardware
Cost: $215
Ease of Use: Easy

Trezor is a trusted name in hardware wallets, and the Trezor Model T made its way onto our Best Ethereum Wallet list due to its touch screen and loads of security features. Beginners will love the easy setup process, and the fact that you can purchase cryptocurrency through the Trezor Wallet app. This means you won’t have to register with an exchange to purchase cryptocurrency.

One of Trezor Model T’s best features is its large, color touch screen. This is something not offered by its competition, the Ledger Nano X, which is also featured on our Best Ethereum Wallet list. This means you can easily enter PIN numbers, review cryptocurrency addresses and more.

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Trezor Model T Pros

  • Large, color, touchscreen display
  • Beginner-friendly and easy to use
  • Keys, PINS and passphrases are stored within the wallet
  • Supported on web browser, Desktop OS and Android platforms
  • Over 1,000 crypto coins and tokens supported
  • You can buy cryptocurrencies using fiat currency straight from the wallet

Trezor Model T Cons

  • No iOS support
  • It’s more expensive than other wallets on our Best Ethereum Wallet list
  • There are only a few select cryptocurrencies that can be purchased using fiat currencies
  • If you lose your wallet and your 24-word recovery phrase, then you’ve lost control of your account and your assets.

Coinbase
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Coinbase

Type of Wallet: Mobile, Chrome Extension
Cost: Free
Ease of Use: Easy

Coinbase is a trusted name in the cryptocurrency world, and because of that many beginners choose their Coinbase Wallet, and its multiple features are what’s landed it on our Best Ethereum Wallet list.

Coinbase offers a non-custodial wallet and supports more than 44,000 different cryptocurrencies. There are lots of different decentralized applications (dApps) to interact with, and it uses a decentralized exchange. Another feature that attracts a lot of investors is the fact that you can earn interest on your assets. And you can manage your NFTs, which means that you can create unique NFTs.

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Coinbase Pros

  • It’s easy to use and beginners can learn it quickly
  • More than 44,000 different cryptocurrencies are supported
  • You can access dApps (decentralized apps) across different blockchains
  • They only charge you network fees. There are no fees for using the wallet itself. Transaction fees are customizable so you can choose how much you pay for blockchain fees
  • Both 2-factor authentication and multi-signature security features

Coinbase Cons

  • Coinbase is notorious for bad customer support. They do have a help center, you can create support tickets, or utilize live chat or phone support. Coinbase has tried to focus on creating a user-friendly interface, but users have reported bad customer service experiences pretty much from the start, and it hasn’t changed over the years.
  • Their code isn’t open-source
  • Trade types are limited
  • Even though you’re able to customize fees, they do still charge high transaction fees

Best Ethereum Wallet Conclusion

Etherum has been rising in popularity for the past few years, and with the upcoming implementation of Ethereum 2.0, many people are flocking to the asset. But with the newfound popularity of Ethereum, there are more risks involved.

Hackers and criminals are flocking to it, as well. Because of this, it’s more important than ever that investors choose a good cryptocurrency wallet. It can be a little confusing at first to choose from all of the options and features on the market, but you should have a better understanding of how to choose the best Ethereum wallet now.

You might also like…

  1. Best Crypto Wallet
  2. Best Bitcoin Wallet
  3. Best IOTA Wallet

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FAQs about the Best Ethereum Wallet

What is Ethereum cold storage?

Cold storage is a wallet option that’s completely offline. Because it’s not connected to the internet, it’s a bit more secure than other wallet types.

Can an Ethereum wallet be hacked?

Yes. Even if you use a cold storage option, it can still be hacked. Of course some wallets are less prone to attack, but it’s possible for attacks to occur with any wallet type.

How do I fund an Ethereum wallet?

You fund your Ethereum wallet by purchasing Ethereum from a cryptocurrency exchange. After you’ve purchased your Ethereum, you withdraw it to your wallet.

Are hardware wallets worth investing in?

Hardware wallets can be more secure than software and mobile wallets, and they’re less impervious to damage from water or fire than paper wallets.

Does my crypto grow in a wallet?

If the price of your Ethereum coins jumps from $1,000 to $10,000 while it’s in your wallet, then it will change to reflect the price jump. Also, you can choose a wallet that allows for staking, or interest gains on your Ethereum.

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