Best Ethereum Wallet Australia – 4 Best Ethereum Wallets in 2021

Since you are investing funds in Ethereum, choosing the right wallet is a critical step. This article narrows down Ethereum wallet options to the four best wallets available in Australia.

You’ll discover TOP4 wallets right away, then you can read about the features of each wallet in detail. The article also describes the Ethereum wallet concept, shares factors to pay attention to when choosing your Ethereum wallet, and answers frequently asked questions.

#1 Ethereum Wallet In Australia – eToro

1
$50Exclusive promotion
Our score10
  • Invest in a wide range of cryptocurrencies
  • Ability to copy more experienced investors and their decisions
  • eToro crypto wallet included which makes it beginner-friendly
0% Commissionstart TradingOur score 10

Best Ethereum Wallets Australia – Top 4 List

  • eToro — Overall Best Ethereum Wallet in Australia
  • Coinbase — Best DeFi Ethereum Wallet in Australia
  • Guarda — Best Ethereum Wallet for Web Users
  • Binance — Best Credibility Ethereum Wallet in Australia

CFDs come with a high risk of losing money rapidly due to leverage. 67% of retail investor accounts lose money when trading. Proceed at your own risk.

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for $ 100 you get
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CFDs are complex instruments and carry a high risk of losing money quickly through leverage. 75% of retail investor accounts lose money when trading CFDs from this provider.

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CFDs are complex instruments that have a high risk of losing money quickly due to leverage. 72.6% of retail investor accounts lose money trading CFDs with this provider.

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for $ 100 you get
0.0324ETH
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for $100 you get
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CFDs are complex instruments and carry a high risk of possible rapid loss of capital due to their leverage. 71% of retail investor accounts lose capital when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take high risk in losing your capital.

Best Ethereum Wallets Australia — Full Reviews

This section focuses on the best Ethereum wallets in Australia. You may save time and better understand what is available in terms of ETH token storage by reading the reviews below.

Rather than relying on the opinions of others, you must conduct your research. Once you cover the reviews, After the reviews, you can find a detailed explanation of how to find the best Ethereum wallet in Australia.

1. eToro — Overall Best Ethereum Wallet In Australia

etoro crypto trading

eToro offers one of the best Ethereum wallets available in Australia. Since the broker has more than 20 million customers and an outstanding reputation, FCA officially accredited it. You can be sure working with eToro because Financial Conduct Authority (FCA) and Gibraltar Financial Services Commission (GFSC) approved the broker. The fact that eToro’s wallet is authorized and licensed demonstrates that the broker respects safety guidelines, has substantial resources, reliable partners, and complies with anti-money laundering regulations.

The broker is enthusiastic about the potential that cryptocurrency provides. That’s why eToro has created the crypto wallet as a method of safely keeping cryptocurrency. You can do the following with the wallet:

  • Transfer Ethereum and other cryptos from the eToro trading platform
  • Send/Receive crypto. Interact with other wallets
  • Convert one crypto to another crypto

The eToro Money crypto wallet is currently being rolled out in many countries, including Australia. You can access the app via Play Store or App Store.

eToro app grants you access to more than 500 convertible digital currency pairs available via the eToro crypto wallet. This feature is incredibly convenient if you trade crypto on eToro. Other features of the broker include DDoS protection, standardization protocols, and multi-signature facilities. You’ll have your personal and private on-chain address — allowing you to trade crypto safely. Another great feature you gain is a quick private key recovery. If you lose your private keys, eToro customer support can help you in the recovery procedure.

Pros

  • DDoS protection & top-tier security protocols.
  • FCA, CySEC, ASIC, and GFSC regulate eToro.
  • You only need $50 to start investing.
  • High-class Android and IOS app.
  • Especially suitable for beginners.
  • eToro provides a convenient ecosystem: wallet, exchange, and other features.

Cons

  • eToro stores your crypto assets online.

Cryptoassets are highly volatile unregulated investment products. 67% of retail investor accounts lose money when trading CFDs with this provider.

2. Coinbase — Best DeFi Ethereum Wallet In Australia

Coinbase Homepage

You should not be concerned about security because the Coinbase online wallet is built with institutional-grade security protocols. For example, Coinbase pledges to keep 98 percent of customer funds in cold storage. This means the funds are always kept offline and away from servers. To elevate security standards even higher, the broker requires you to perform a two-factor authentication procedure each time you connect to your Coinbase wallet. This requires entering a one-time code sent to your phone through SMS or Google Authenticator.

You may also be in charge of controlling the private keys for your Ethereum wallet at Coinbase. This technique necessitates installing the Coinbase wallet app, which is free to download on both iOS and Android smartphones. Like the main web wallet, the Coinbase app allows you to buy, sell, and trade digital currencies. Before you can utilize trade services, however, you must first complete a Know Your Customer method. The entire process takes no more than five minutes: you must provide your personal information, as well as a copy of your ID.

Pros

  • Access to a wide pool of crypto tools
  • You can trade ERC-20 tokens
  • Coinbase wallet allows participation in airdrops
  • You can interact with brand new ICOs, browse DApps
  • Send crypto to anyone across the globe
  • Enjoy high security & privacy standards
  • Experience Decentralized exchanges, DeFi protocols, collectibles, and more.

Cons

  • Coinbase has above-the-market fees.

Cryptoassets are highly volatile unregulated investment products. 67% of retail investor accounts lose money when trading CFDs with this provider.

3. Guarda — Best Ethereum Wallet For Web Users

Guarda

Guarda web crypto wallet has multi-sig security measures and encrypted private keys using a password that users create when they sign up for the wallet.

Furthermore, when you join up, Guarda gives you a backup text file with your encrypted private keys, which you should keep secure on an offline storage device. You will need this key to access your account, so keep it safe. We recommend keeping it on a separate offline hard drive from your primary computer.

Although cold wallet storage is an objectively stronger security precaution that the Guarda wallet lacks, its remote access capabilities provide greater flexibility, ensuring that you always have access to your assets no matter where you are on the globe.

It also has several security measures for its add-on products. Its Google Chrome extension does not have access to the main blockchain, which protects your cash from hackers exploiting any weaknesses in your web browser.

Generally, Guarda offers you:

  • Web Wallet — Allows you to check your crypto using any browser.
  • Desktop Wallet — A built-in desktop software for more secure asset management.
  • Mobile Wallet — It also features a mobile wallet that allows you to make purchases while on the go. This mobile wallet is immediately synchronized with all of your other Guarda Wallets so that you can be confident in its security.
  • Shielded Wallet — A new feature that allows you to store and transmit Zcash more securely: you can utilize the protected wallet to store Zcash on your smartphone or tablet. The Shield Wallet was created with Zcash developers to guarantee that zk-SNARK technology — Zcash’s sophisticated verification method — could be effectively incorporated.
  • Chrome Extension — A chrome extension is an excellent addition to Guarda’s product line. You can use crypto to pay for gaming, social media purchases, micro-transactions, and some crypto initiatives. An extension is a handy tool if you do not want to fill out your private keys whenever you send a minor transaction.

Pros

  • A wide pool of popular crypto coins & tokens
  • Make passive income on crypto staking
  • Multi-signature security to protect your crypto even better
  • Reliable private keys (encrypted)
  • Competitive fees.

Cons

  • It doesn’t offer cold wallet storage for your crypto
  • You have to apply multi-signature features manually.

Cryptoassets are highly volatile unregulated investment products. 67% of retail investor accounts lose money when trading CFDs with this provider.

4. Binance — Best Credibility Ethereum Wallet In Australia

Binance

To avoid confusion, we should note that Binance offers distinctive wallets: the Binance coin wallet and the Trust wallet. Even though both wallets share the same origin, they aren’t the same. The most common wallet is the Binance coin wallet.

The wallet is popular because Binance is a world-known crypto platform, dominating the entire industry — the platform’s credibility, security, and privacy are up to par.

Upon registration, you can activate frontline security features: two-factor authentication (2FA) and universal two-factor authentication (U2F). Even though these features are pretty popular, they are still effective. On top of that, Binance stores the major part of all wallets offline. Hence, minimizing any chance to hack your assets.

Pros

  • No minimum deposit
  • More than 400 crypto coins supported
  • The largest base of clients, hence low fees
  • Less than 15 minutes to open an account
  • Stablecoins, altcoins, futures on coins, options
  • Top crypto exchange in terms of trading volume
  • Additional services to make your trading more effective.

Cons

  • Account verification hiccups may occur
  • Opaque corporate structure, hence difficulties in some countries.

Cryptoassets are highly volatile unregulated investment products. 67% of retail investor accounts lose money when trading CFDs with this provider.

What is an Ethereum Wallet in Australia?

A cryptocurrency wallet is a place where you can save your cryptocurrency, whether it’s Bitcoin, Litecoin, Dogecoin, or any other token. Private keys are used to safeguard these currencies, and you may store these keys in a variety of methods, all of which are simply referred to as wallets. As a crypto investor, you don’t have to ‘mine’ the tokens you own; instead, you may simply purchase and sell them on an exchange or directly from others. Then you transfer the ‘keys’ to the currencies to get access to them.

What Are Private and Public Keys?

While talking about Ethereum wallets, it’s vital to grasp the difference between public and private keys. Without these, a crypto wallet is effectively useless. As the name implies, Cryptocurrency is built on encryption technologies, which employ a combination of keys — a public one to identify the block of tokens and a private one to access them. That’s already a big oversimplification, but if you’re just here to learn how to trade cryptocurrency, it may be much more so.

Your public key on a crypto wallet, similar to your username on a payment app that enables you to receive money, allows you to receive tokens. Private keys are passwords that let you check your balance, perform transactions, and access other services. Keep in mind that both are equally essential.

How To Find The Best Ethereum Wallet?

There are many crypto wallets available on the market nowadays, and their variety can complicate your choice. You need the right crypto wallet that fits your needs, especially if you’re a beginner. Below are some criteria that your wallet must meet to benefit you the best.

Secure

Since cryptocurrencies are decentralized and have no access rights, no central organization will verify your transactions and recover your assets if stolen. The security of your private and public keys is in your hands, and since the crypto wallet is the environment in which your keys are stored, you must keep them as safe as possible.

To protect your Ethereum, you should pick a reliable Ethereum wallet. Ideally, you want a large-scale company with many resources to put to security & privacy tests. Your potential crypto wallet should pass such authorities as Financial Conduct Authority (FCA), Australian Securities & Investments Commission (ASIC), Cyprus Securities and Exchange Commission (CySEC), and Gibraltar Financial Services Commission (GFSC). A perfect example is eToro: it’s a top-tier broker accredited by FCA, ASIC, and CySEC. eToro wallet is regulated by GFSC and has great credibility. More than 6 million users trust eToro with their crypto assets.

As Little KYC As Possible

Know Your Customer (KYC) is a guideline that most financial services use to verify the customer’s identity. Most companies have KYC policies because of a government agency. However, when it comes to crypto, you want to maintain anonymity by any means available.

  • KYC means a single point of failure: the crypto wallet handling your cryptocurrency will gain access to your personal information, making you more vulnerable to security threats and theft
  • KYC means that a third party, such as a government agency or perhaps another organization, can restrict your freedom and prevent you from doing what you want by forcing cryptocurrency to obey the rules
  • Your privacy and anonymity are now nonexistent as your crypto wallet, which ignores the security of your keys, will now be able to link your crypto activity and transactions to a real person (you)

On the other hand, brokers without KYC are not accepted by FCA, CySEC, ASIC, etc. We recommend you look for wallets with minimal KYC requirements — for example, eToro. The broker doesn’t ask for tons of your personal information.

Decentralized

A decentralized crypto wallet service will store your data on a decentralized network similar to a blockchain. Meaning only YOU, the user, have access to your public & private keys and, therefore, your cryptocurrency. No one, including the government, can access your data.

Only you can decide what you do with your cryptocurrency, and the quickest way to guarantee this is to choose a wallet that cannot access your data. Ideally, through decentralization or, at the very least, your data should be fully encrypted. Hence, no one can access it but you.

Afterword

Before choosing a crypto wallet, you should do a thorough background check and do a detailed study of the wallet, as the security and functionality of the cryptocurrency experience will depend on it. On top of that, you can also consider such factors as crypto coins & tokens available, commissions, deposits, availability of credit/debit cards, withdrawal amount, mobile or web apps available, and more.

Recommended Broker
Buy now

CFDs are complex instruments and carry a high risk of losing money quickly through leverage. 75% of retail investor accounts lose money when trading CFDs from this provider.

Recommended Broker
Buy now

CFDs are complex instruments that have a high risk of losing money quickly due to leverage. 72.6% of retail investor accounts lose money trading CFDs with this provider.

Recommended Broker
Buy now

CFDs are complex instruments and carry a high risk of possible rapid loss of capital due to their leverage. 71% of retail investor accounts lose capital when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take high risk in losing your capital.

Rating
5.0
4.5
4.3
Mobile App Rating
1/10
10/10
9/10
Mobile App
Wallet
Number of Coins
32814
Trading Fees
SpreadsCommissionN/A
Deposit Fees
N/A$0N/A
Withdrawal Fees
5 USD$0N/A
Regulated
N/AYesCBI and MiFID in Europe
Min. Deposit
50$$20$100
Leveraged Trading
N/AYes1:2 for cryptocurrencies
Bitcoin
$48280.47$47968.98$48088.78
Ethereum
$3682.58$3617.53$3626.57
XRP
$1.13$1.10$1.12
Tether
$1.00N/AN/A
Litecoin
$193.28N/A$190.82
Bitcoin Cash
$648.55N/A$644.42
Chainlink
$30.50N/A$30.96
Cardano
$2.52N/AN/A
IOTA
$1.56N/A$1.52
Binance Coin
$436.74N/AN/A
Stellar
$0.34$0.33$0.34
EOS
$5.25N/A$5.18
Credit Card
Paypal
Sepa Transfer
Skrill
Sofort
Giropay
Neteller

How To Get Started With The Best Ethereum Wallet — Full Guide

If this is your first time using an Ethereum wallet in Australia – this part of our guide will walk you through the setup process every step of the way. By following the guidelines below, you will learn how to use the eToro wallet, the safest and most convenient way to store your ETH tokens.

Step 1: Open an Account

Open an Online Trading Account

Unlike many other Ethereum wallet providers, eToro is heavily regulated, including an FCA license. As such, the broker behind the wallet must ask you to open an account before using its services. This will only take you two minutes and requires nothing more than basic personal information and contact details.

At this stage, you have to upload a copy of your ID. eToro accepts passports and driving licenses to meet the regulatory requirement. Namely, Know Your Customer (KYC) and anti-money laundering (AML) regulations. You’ll also need a copy of a recently issued bank statement or utility bill.

Cryptoassets are highly volatile unregulated investment products. 67% of retail investor accounts lose money when trading CFDs with this provider.

Step 2: Download eToro Wallet

Now that you have a verified account – click on the Google Play or App Store button to download the eToro wallet to your device. Once you open the wallet on your phone, you will need to log in. You can enter by using the username and password that you created when you opened your eToro account.

Step 3: Add Ethereum to eToro Wallet

You’re almost ready to go, yet your Ethereum wallet is still empty. You can either top up your wallet using a credit/debit card (other payment methods work as well) or use your previous wallet/exchange to send some tokens.

Transfer ETH Tokens into eToro Wallet

If you have tokens stored in an external Ethereum wallet or exchange – here’s what you need to do:

  • Enter your eToro wallet, search for Ethereum and click the ‘Receive’ button
  • Copy your Ethereum public address and head over to the external source where the tokens are currently stored
  • Paste the address into your external source and enter the number of tokens you want to transfer into the eToro wallet.

Once you confirm the transfer, you should see the Ethereum tokens in your eToro wallet in less than 15 minutes.

Buy ETH Tokens From eToro Wallet

If you’ve yet to buy some Ethereum tokens – here’s how you can complete the purchase via the eToro wallet:

  • First, you need to make a deposit. You can do this with an e-wallet like PayPal, Skrill, Neteller, or a debit/credit card
  • Type Ethereum or ETH into the search bar and click on the ‘Trade’ button
  • Enter the amount of money you want to invest in Ethereum. At eToro, the minimum is just $50.

Once you confirm the purchase, the Ethereum tokens will appear in your eToro wallet in a blink of an eye.

Conclusion

If you’ve decided to buy some Ethereum but haven’t yet settled on a wallet to store your assets, you have two choices. You may either take a shot in the dark, searching for a reputable cryptocurrency wallet on your own, or you can study reviews, analyze facts, and select a reputable cryptocurrency exchange such as eToro. This broker provides both asset storage and commission-free cryptocurrency trading services. Whichever option you choose, you should begin with a little amount of money and progressively grow your investment. After a few weeks of dealing with a broker, you will know whether the services are for you.

eToro – Best Ethereum Wallet Australia

1
$50Exclusive promotion
Our score10
  • Invest in a wide range of cryptocurrencies
  • Ability to copy more experienced investors and their decisions
  • eToro crypto wallet included which makes it beginner-friendly
0% Commissionstart TradingOur score 10

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About Farkhad Fatkhulov PRO INVESTOR

Farhad is a commercial writer focusing on finance & investment and niche B2B. The author's distinctive feature is the depth of research and information analysis. With more than a thousand articles under his belt, Farhad combines financial knowledge with real-life investment portfolio managing experience. He also writes for FinTech & Crypto related projects due to his knack for technologies.