Guide to Ethereum Wallets

[EXPSweat123]

Was inspired by @Allura 's post about bitcoin wallets, decided to go ahead and do it for ethereum wallets.

Online/Web Wallets

Security:Low
Ease of Use:High

MyEtherWallet
Pros: You control your private keys, making it much harder to be hacked. Project is open-source, and it has functionality with many hardware wallets.
Cons: Does not have the same ease of use compared to other web wallets.
Notes: Good overall. Has decent ease of use, a good option if you want to stay secure

Coinbase
Pros: Ability to purchase Ethereum straight from coinbase.
Cons: Coinbase controls your private keys, meaning that they can shut down your account, and there is nothing you can do about it. Support is slow, and the coinbase website has gone down in times of high traffic.
Notes: Do not recommend storing large amounts of coins in, you can also use GDAX-which is owned by coinbase-to bypass the fees imposed by coinbase.

---

Desktop Wallets

Security:Medium-High
Ease of Use:High

Mist
Pros: The official ethereum wallet. Built in shapeshift functionality to quickly switch currencies. Control over private keys
Cons: When you install, your wallet must sync with ethereum nodes, which can take a while dependent on your internet connection.
Notes: Both a pro and con, when you set up your wallet you must set a secure password. If you forget this password for whatever reason, you will not be able to access your funds.

Exodus
Pros: Beautiful UI, supports multiple currencies. Built in ShapeShift functionality.
Cons: You must be connected to the internet to use
Notes: Best UI I've personally seen in a wallet.

---

Mobile Wallets

Jaxx
Pros: Supports both ETH and ETC and many other currencies.
Cons: None
OS supported: Android/iOS
Notes: Jaxx also is available on windows/linux/macOS. Jaxx has announced possible hardware wallets in the future.

Hardware

---

Ledger Nano S
Pros: One of the more inexpensive hardware wallets at $65. Comes with an OLED screen to control transactions.
Cons: None
Notes: Can still use even while on a hacked computer

Trezor
Pros: The first hardware wallet. Light, portable and has functionality with MyEtherWallet
Cons: $99
Notes: Cannot go wrong with purchasing one of these devices.

KeepKey
Pros: Giant screen, very nice design overall.
Cons: $99, build quality is questionable at times.
Notes: Limited availability(applies to most hardware wallets)


Hope this helped everyone

[Devil]

Thanks @EXPSweat123, but you forgot Blockchain :P

[Yeeit]

I couldn't figure out sending ETH on my Ledger

[Allura]

I couldn't figure out sending ETH on my Ledger

What couldn't you figure out? I don't have a Ledge but I know it just uses My Ether Wallet

[Yeeit]

What couldn't you figure out? I don't have a Ledge but I know it just uses My Ether Wallet

I can't send ETH by using 21k Gas Limit. Basically, i couldn't understand what Gas Limit is for ETH.

[Allura]

I can't send ETH by using 21k Gas Limit. Basically, i couldn't understand what Gas Limit is for ETH.

Gas is basically the transaction fee. Unlike in BTC, you don't pay higher fees if you send higher amounts of money. You only pay transactions fees for the amount of work done by miners.

Example in ETH: You fill a car with 1 gallon of gas. You drive to the shops now you have 0.8 gallons of gas. You only used 0.2 gallons of gas, hence you "paid" for 0.2 gallons of gas. You still have 0.8 gallons of gas to when ever you want.

In bitcoin though, if you pay $1 in fees, its all gone. In ETH, if you pay "$1 in fees", and the miner's only earned $0.80 of it. You will get refunded $0.2. Gas basically pays miners for what they earned. Its sort of like a hourly wage. If you work 1 hour, you get paid for 1 hour. If you work 10 hours, you get paid for 10 hours.

Gas isn't a new currency within ETH. Gas is Ether, its just what they call transaction fees.
That is my understanding of gas. I don't use ETH that much

[pubknip]

this is excellent, since MyEtherWallet is open source, and it has functionality with many hardware wallets, which really becomes an advantage to using it.

[devriesp644]

be careful with online wallets

[MichaelA2014]

You didn't mention Parity. I have been using them for the longest and they are working fine. I don't really trust any online wallets because websites are getting hacked all the time and data/money get stolen. At least on my computer I can ecrypt the partition and install my wallet there. When I don't use it it's excrypted. When I need to use eth I decrypt partition and off the ether goes

[seodot]

no Metamask?