5 Best ETH Wallets: Comprehensive 2020 Guide — Exscudo Blog

Best ETH Wallets: Overview

Best ETH Wallets: Our Favorites

Ledger Nano S: Basics

Setting up Ledger Nano S

Supported Coins

Pros and Cons of Ledger Nano S

  • Not an open-source hardware;
  • The sheet with the recovery phrase is rather easy to steal or lose.

Trezor One: Overview

Setting up Trezor One

Supported Coins

Pros And Cons Of Trezor One

  • It does not support some popular coins, including Monero and Ripple (XRP);
  • The design is rather recognizable. (It may be a pro if you are proud to be a crypto user).

Setting Up Metamask

Pros and Cons of Metamask

  • You’d better have some knowledge of the Ethereum network to use Metamask;
  • Lower security level, compared to cold (paper and hardware) wallets;
  • Some users complain it may be slow.

Mist: Overview

Setting Up Mist

Pros and Cons of Mist

  • ‘Official’ wallet by Ethereum developers;
  • Very ETH-friendly (this currency is really easy to buy with BTC or another crypto);
  • Open-source code.
  • It’s a full-node wallet;
  • Currency support is limited to ETH and ERC-20 tokens;
  • You have to wait till the sync with the network is complete;
  • Not recommended for beginners.

Channels: Overview

Setting Up Channels

  1. Install the app version that is compatible with your OS.
    Open the app and move your fingertip around the grid on the screen. Based on this random pattern, Channels will generate a unique private/public key pair for your wallet.
  2. Choose a username and set a 4-digits PIN-code. Enter your phone number to confirm your location. Click on the Wallet icon to view the list of available wallets and all the transactions.
  3. To start using the chat, click on the Chats icon. Now your contact list is empty, but you can get in touch with your friends by sending them your EON-ID. If they are not on Channels yet, you can permit the app access to your Contact list.
  4. If you need to change anything, click on the Settings icon. From there, you can permit/deny access to some features and reach the in-app customer support.

Pros and Cons of Channels

  • As Channels wallet is decentralized, the users themselves are responsible for the security of their funds. Thus, we recommend implementing all the necessary safety measures;
  • The Channels community is still rather small, though this fact does not affect the functionality of the wallet.

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