Best Ethereum Wallet USA – 4 Best Ethereum Wallets in 2021

As it stands today, Ethereum is the largest altcoin and one of the largest cryptocurrencies overall, second only to Bitcoin. Often abbreviated to ETH, Ethereum is similar to Bitcoin in its use of decentralized blockchain technology however differs as it allows “dApps” to be used and created on the platform. To take advantage of these dApps or invest in Ethereum you’ll need to know the best Ethereum wallet available right now.

To ensure you have all the knowledge required to succeed on this front, we have reviewed the best Ethereum wallet USA for the needs of every kind of user and how to get set up in just a couple of minutes. 

#1 Ethereum Wallet In the USA – eToro

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  • 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
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Best Ethereum Wallets USA – Top 4 List

Do you want to know what the best currently available Ethereum wallet USA is? Well, look no further! We’ve analyzed several key characteristics to answer the question “what is the best free Ethereum wallet?”

  1. eToro – All Round Best Ethereum Wallet
  2. Exodus – Best Free Ethereum Wallet for Beginners
  3. Coinbase – Easiest to Use Ethereum Wallet USA 
  4. Metamask – Best Ethereum Wallet for dApps

See the below full length reviews of our top 4 picks for best Ethereum wallet.

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Best Ethereum Wallets USA – Full Reviews

 

1. eToro – All-Round Best Ethereum Wallet

There’s a reason why eToro is one of the largest exchanges in the world. They offer a huge amount of useful features, such as copy trading, great security, and an easy-to-use, completely free Ethereum wallet. Pair this with the company’s stellar reputation and it becomes, in our opinion, the clear choice for the best Ethereum wallet. They allow users to trade a huge variety of cryptocurrencies, for example, Bitcoin, Dogecoin, Ripple, and Cardano. However you’re not limited to just trading crypto as eToro also lets you trade ETFs, indices, and commodities providing its users with an extremely diverse range of financial instruments. 

Opening an account with eToro is simple, once on their website all you have to do is click “Join Now”,  fill out your sign up information, verify your identity with a driving license/passport and provide proof of residency (a utility bill or bank statement will work). Once verified, you’re free to browse through all of the interesting features, set up your free Ethereum wallet, and invest in Ethereum for as little as $50.

The fee structure on eToro operates slightly differently from the majority of exchanges, instead of being charged buy and sell fees, you’re charged a spread – the difference in the buy and sell price of a coin. This means that as long your investment outperforms the spread percentage you’re essentially not paying fees. We have included the below table showing the spread of the current top 5 cryptocurrencies so you can get an idea of eToro’s fee structure.

Once you purchase your Ethereum on eToro it’ll be credited to your account and you’ll immediately have access to it via your web wallet. You can hold your coins for as long as you want without incurring any fees so this is a great option for both short and long-term holders. If you require a bit more control over your free Ethereum wallet, then you can download eToro’s mobile wallet where you can manage your holdings a bit more closely and instantly convert your Ethereum to any of the 120+ other cryptocurrencies available on the platform. 

In addition to providing users with the best Ethereum wallet, a wide range of cryptocurrencies, and some of the lowest fees, eToro provides investors with a way to earn money passively; copy trading. Copy trading allows you to automatically mirror the trades of the highest-earning traders on their platform, this lets you earn money while you sleep and still have peace of mind knowing that you’re in good hands. Combine this plethora of features with the ability to easily deposit and withdraw a wide range of currencies and you have a recipe for success. 

eToro Fees

Coin Name Spreads
Bitcoin (BTC) 0.75%
Ethereum (ETH) 1.90%
Cardano (ADA) 2.90%
Binance Coin (BNB) 2.45%
Ripple (XRP) 2.45%

Pros

  • One of the largest exchanges
  • Plethora of features
  • Wide range of deposit options
  • Regulated by the FCA, CySEC, ASIC
  • Lots of financial instruments to choose from
  • Low minimum investment at only $50
  • Mobile wallet available
  • Great support
  • All-round best Ethereum wallet

Cons

  • Lack of indicators may not be ideal for technical traders
  • No Metatrader support

67% of retail investor accounts lose money when trading CFDs with this provider.

2. Exodus – Best Free Ethereum Wallet for Beginners

If you’re new to crypto and asking yourself “what is the best free Ethereum wallet” then Exodus is for you. Although relatively new to the crypto space, Exodus has certainly made a big splash. Available on both mobile and desktop, Exodus is an extremely easy-to-use, multi-currency platform and potentially the best Ethereum wallet available for beginners. It offers an easy-to-navigate UI, a streamlined buying process, and a simple-to-use exchange built into the app. This allows users who may be new to the crypto space to set up a free Ethereum wallet without much hassle.

Another area that can be confusing for people new to the crypto space is fees. While many exchanges tend to hide fees in places the average user may not notice, Exodus is very transparent about what fees they charge and how they make money. While Exodus does not make a commission on transaction fees like many of their competitors, they make money through their relationships with exchange providers that offer their services from within the app. This means that while Exodus does not directly charge any fees they take a portion of the spread charged by their exchange partner, Shapeshift. These fees tend to be around 0.5% although can vary day to day based on several factors, a small miner fee is also charged at about $1. If you hold any FOX tokens (Shapeshift’s token) then you can enjoy reduced spread and gas fees, which is a nice bonus considering you get 100 FOX for verifying your account. 

Exodus Fees

Fee Type Amount Charged
Spread  ~0.5%
Miner Fee ~$1 (USD)

 

Pros

  • Simple to use
  • Low fees
  • Well designed wallet
  • Easy to use exchange
  • Use FOX to lower gas fees

Cons

  • Doesn’t yet support 2FA
  • Not a proprietary exchange 
  • Relatively new so not much of a track record

67% of retail investor accounts lose money when trading CFDs with this provider.

3. Coinbase – Best Ethereum Wallet For Ease of Use

If you’ve spent any time monitoring the crypto space, I’m sure by now you will have heard of Coinbase. If you’re looking for an easy-to-use, feature-rich free Ethereum wallet then Coinbase may be the best Ethereum wallet for you. Coinbase offers 3 separate apps (Coinbase, Coinbase Pro & Coinbase Wallet) as well as a web-based wallet/exchange, so regardless of your needs or device there will be something for you. Being the largest US exchange you can rest assured knowing your Ethereum is safe, however, there are a number of pros and cons that come with the title, namely, fiat depositor insurance, high security, and the possibility of earning free crypto rewards. However this is balanced out by the negatives; slow customer support, higher than average fees, and certain cryptocurrencies missing from the platform.

The easiest way to get started with your Ethereum wallet USA is to download the “Coinbase” app. You can consider this the starting point for Coinbase, it lets users store, trade, and manage their crypto without facing a whole heap of complex charts and indicators. All you have to do to get started is sign up and complete the standard 2 step verification process, you can however still browse through everything while waiting to be verified, which in my experience may take a while. If having greater control of your assets is your aim, then the Coinbase Wallet app gives you real ownership of your coins by providing you with private keys for the wallet,  which can be a make-or-break feature for some users. And for the more advanced traders, we finish off the trifecta with Coinbase Pro, a platform designed for those who are active traders and use more advanced charting techniques. It can also actually be cheaper to buy using Coinbase Pro as they use a fee structure geared more toward active day traders and larger transactions, so while it may be harder to initially get to grips with the platform, you will end up being better off for doing so. 

An excellent feature for anyone new to crypto and one I love is the rewards system. This allows you to earn crypto for completing quizzes designed to educate you on what certain coins do and how they’re used, the quizzes tend to only be around 5-10 questions long and most can be completed in around 10-15 minutes. These quizzes definitely won’t make you rich but if you do a few of them it can certainly add up and make a nice addition to any holdings in your free Ethereum wallet. As you would expect for the largest exchange in the US it has excellent security offering 2FA, AES-256 encryption, and insurance in the event of a breach. Additionally, Coinbase boasts that they hold 98% of funds in cold storage with the other 2% being held by their insurance provider, this ensures that even in the event of the Coinbase servers getting hacked your money will be safe in the best Ethereum wallet.

Coinbase Fees

Fee Coinbase Coinbase Pro
Wallet 1.49% 0%
Bank Deposit 1.49% 0%
Debit/Credit Card 3.99% 0%
Conversion 0.5% to 2% 0.5% to 2%
Trades $0.50 $0 to $0.50
Coinbase fee $0.99 to $2.99 Based on size of transaction  0.04% to 0.50% taker fee and a 0% to 0.50% maker fee

Pros

  • Something for everyone
  • Extremely Easy to use
  • Largest US Exchange
  • Rewards system

Cons

  •  Slow support
  • Higher than average fees
  • Lack of indicators on pro platform

67% of retail investor accounts lose money when trading CFDs with this provider.

4. MetaMask – Best Ethereum Wallet for dApps & NFTs

In the world of web 3.0, blockchain-based apps, and NFTs, MetaMask aims to capitalize by being an extremely versatile and dependable wallet in the ever-growing crypto space. I’m sure you will have heard the term NFT(Non-Fungible Token), perhaps from a friend, influencer, or even a celebrity, however, it can be confusing getting your head around what an NFT is or why it holds any value. At current NFTs are predominantly digital art but can be any digital asset, a NFT differs from a simple image saved on your computer in the identifying code embedded within, which enables all NFTs to be completely individual and therefore impossible to create an exact replica. 

If you’ve heard the term “dApp” or “NFT” and wondered “what is the best free Ethereum wallet” then MetaMask may be the wallet for you. Offering a dedicated section to hold and view your NFTs as well as a built-in browser to access the huge range of Ethereum based dApps currently available, MetaMask offers users a simple-to-understand portal into the blockchain-based apps; something that was previously much more difficult to grasp. After signing up for your free Ethereum wallet and copying your seed phrase, you will immediately have access to your crypto & NFT wallets as well as a browser that you can use to explore dApps on the Ethereum blockchain. 

As of current, the majority of dApps and NFTs are created on the Ethereum network however MetaMask allows users to switch between networks (e.g. Matic & Binance Smart Chain) which is becoming ever more crucial as Ethereum gas fees rise and both users and developers look toward cheaper alternatives. MetaMask makes it easy to switch between networks, all you have to do is click the “Ethereum Main Network” section and choose the network you require. 

While you get access to your private keys and the security benefits that come with having a large user base, due to MetaMask being an online wallet, there are some security concerns. The most glaring comes as a vulnerability to hackers attempting to steal your crypto or data, as MetaMask is a hot wallet, meaning it’s connected directly to the Ethereum blockchain there aren’t many additional steps you can take to secure your crypto, however, there are a few. Rather than using the inbuilt browser or the Chrome/Firefox (which are known to store your data) extension, you can instead use Brave which is much more privacy-focused. And as with any hot wallet, it is safer to move large holdings to cold storage on a device such as a Ledger.

MetaMask Fees

Fee Amount Charged
Swap Service Fee 0.875%
Ethereum Gas Fees Variable

Pros

  • Private keys
  • Browser & app support
  • Access to dApps & NFTs
  • Large user base
  • Custom networks

Cons

  • Hot wallet
  • Not the best for privacy
  • At-risk from hackers

67% of retail investor accounts lose money when trading CFDs with this provider.

What is an Ethereum Wallet USA

To answer the question “what is the best free Ethereum wallet?” We first have to understand what a wallet does and why we need one. In short, an Ethereum wallet is a piece of software or hardware that lets users access and interact with the Ethereum blockchain, similar to how we interact with our money through online banking. 

There are 3 main features that most good Ethereum wallets have:

  • Holding Coins: The most obvious and for many, the most important feature is the ability to securely store your Ethereum. This gives you peace of mind knowing your Ethereum will be there when you need it.
  • Exchanging Coins: If you don’t already hold some Ethereum, then a built-in exchange will be crucial to you getting started. It’s important to look for a platform with low fees and a range of deposit options that fit your requirements.
  • Managing Funds: The reason the majority of people need an Ethereum wallet is to manage their funds. You need to be able to easily receive, transfer and exchange your coins.

How to Find The Best Ethereum Wallet

Due to the huge amount of platforms available, it can be easy to get confused when looking for the best Ethereum wallet. Luckily for you, however, we have broken down the most important factors so you can match your needs with a relevant wallet. Ultimately a mix of convenience, security and a diverse range of features tends to be what the average user is looking for, which is where platforms like eToro shine. 

Everyone has different needs and as such it’s important to match your requirements with the correct wallet. Below we’ve summarized several key factors so you can make a hassle-free, informed decision on what free Ethereum wallet is best for you. 

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Rating
5.0
4.5
4.3
Mobile App Rating
1/10
10/10
9/10
Mobile App
Wallet
Number of Coins
311014
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
$62206.49$62262.47$62417.97
Ethereum
$3869.52$3801.17$3810.66
XRP
$1.11$1.09$1.10
Tether
$1.00N/AN/A
Litecoin
$191.43N/A$188.99
Bitcoin Cash
$624.48N/A$620.50
Chainlink
$25.86N/A$26.25
Cardano
$2.19$2.12N/A
IOTA
$1.21N/A$1.18
Binance Coin
$502.67$578.23N/A
Stellar
$0.38$0.37$0.38
EOS
$4.59N/A$4.53
Credit Card
Paypal
Sepa Transfer
Skrill
Sofort
Giropay
Neteller

Security

Security is paramount when selecting the best Ethereum wallet. Even if it’s not the main factor for you, securing your coins is crucial to avoid any mishaps. If you plan on doing any sort of trading it’s important to make sure the platform is regulated by either the FCA, FinCEN, ASIC, CySEC, or whatever regulatory body your country of residence uses. 

The phrase “Not your keys, not your coins” gets thrown about fairly often and it’s important to understand what that means. Some platforms (called non-custodial wallets) give you your private keys, while others manage them for you(custodial wallets), and while that may not seem like a big deal on the surface, if you don’t have control of your private key you technically don’t own the coins you’ve purchased. While 99% of the time this won’t affect you, in the event a wallet/exchange gets compromised it’s an extra layer of security to protect you. That being said it can still be beneficial for new users to use a custodial wallet as if you lose your private key you risk losing everything in the wallet.

Convenience

For those that regularly trade, transfer, or travel, convenience can be a big factor. For example, if you’re often out of the house it’s not always viable to carry a laptop around with you to monitor how your Ethereum is performing. In cases like these, it’s important to consider which platforms have a mobile app that you can easily manage your crypto assets from.

Extra Features

Depending on your needs, a range of extra features could be crucial to deciding what Ethereum wallet USA is most suited to your needs. If you trade then it’s important to select a platform with a proprietary exchange that has a range of indicators, good charting, and allows you to set up different types of orders (limit, stop, market). In the event of your account getting compromised 2FA is also a massively beneficial feature as it adds an extra layer of security meaning even if your password gets exposed it won’t be the end of the world.

How to Get Started With The Best Free Ethereum Wallet – Full Guide

Step 1: Sign Up

The first step when setting up the best free Ethereum wallet is to go to the eToro website and sign up by clicking “join now” and filling in your information. All personal data is protected with SSL encryption so there is no need to worry about your data. Take a few minutes to familiarize yourself with the terms and conditions and then click the “sign-up” button. After doing this you’re ready to move onto the next step.

67% of retail investor accounts lose money when trading CFDs with this provider.

Step 2: Verify Identity

As eToro is regulated in many different countries they are required to have new customers go through the KYC (know your customer) process. This only takes a few minutes and is important to protect both parties. Simply upload proof of residence (e.g. a utility bill or bank statement) and also a form of photo ID such as a passport or driving license. You’ll also have to complete a brief questionnaire to prove you understand the risks associated with trading.

Step 3: Fund Wallet

Once your identity is confirmed by eToro, you’ll have to fund your free Ethereum wallet. You can do this in two ways, by depositing fiat with a bank deposit, credit/debit card, or wire transfer. Alternatively, if you already hold some Ethereum in a separate wallet you can deposit it into eToro by simply typing in “Ethereum” in the search bar, clicking “receive” and then sending the Ethereum from your other wallet.

Step 4: Start Trading!

That’s it! You’re now ready to use the best Ethereum wallet and start trading! 

Conclusion

To conclude, it’s important to choose the best Ethereum wallet for your specific needs and we hope with this guide you’ll be able to do just that! After extensive research we can wholeheartedly recommend eToro for those asking the question “what is the best free Ethereum wallet?” eToro offers the perfect balance of security, convenience and, a diverse range of features perfect for even the most advanced traders.

Best All Round Ethereum Wallet In the USA – 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

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About Jay Leonard PRO INVESTOR

Jay is a UK based cryptocurrency expert, specialising in fundamental analysis and medium to long term investments. He has a great deal of hands on experience in the space and a current focus on institutional adoption.