Ethereum (or Ether) has the second largest market capitalization of all cryptocurrencies after Bitcoin. If you want to buy Ethereum, you should get a wallet suitable for your own purposes, especially if you are considering a long-term investment in the cryptocurrency and are striving for the greatest possible security in its safekeeping. Here is an overview of 5 different types of wallets, all of which have a good track record, and one of them should fit your purpose, too.
1) Ethereum Wallet from Ethereum.org
Ethereum offers its own desktop wallet for download and points out on the page that you cannot only keep your Ether safe with the software, but that it also enables you to use and write Smart Contracts. This already suggests that the Ethereum wallet is more suitable for advanced users; moreover, it takes up quite a bit of storage. However, it is free and available for Windows, OSX and Linux, and the private keys remain with the user.
2) Ethereum Wallet from Exodus
The Exodus multi-currency wallet is another desktop wallet and easier to use than the Ethereum.org wallet. It is also suitable for various operating systems, and the download is free. The free use is made possible by the integration of the Swiss crypto exchange ShapeShift into the wallet as Exodus benefits when currency exchanges are done in the wallet. If this wallet is right for you, you may consider using the wallet not only for Ethereum, but also for other cryptocurrencies.
3) Mobile Ethereum Wallet from Jaxx
Although the multicoin wallet Jaxx is also available as a desktop version, it is the mobile versions for Android and iOS that are an interesting alternative or supplement to other wallets (moreover, the wallet can be used on different platforms with the same account). As with the wallets discussed so far, downloading Jaxx is also free, and as with Exodus, cryptocurrencies can be exchanged in the wallet thanks to the integrated coin exchange ShapeShift. Currently, the new version of the Wallet –Jaxx Liberty– is available as beta download.
4) MetaMask – A Browser Wallet for Ethereum
MetaMask is a browser wallet for Ethereum, but also much more than that. The extension can be easily added to the browser, e.g. in the Chrome Store. What is special about MetaMask is that it gives you access to the Ethereum DApps (the decentralized apps) on the Ethereum blockchain. One of the DApps that can be used via MetaMask is the decentralized crypto exchange IDEX.
5) Ledger Nano S – A Hardware Wallet for Ethereum
The Ledger wallet Nano S is a multicoin hardware wallet. Hardware wallets are among the most secure of all wallet types, as a protection of your cryptocurrencies against hacker attacks, for example. As a so-called cold wallet, the Ledger Nano S can only be accessed via the Internet if it has been connected to the computer via a USB port. In addition, the device is protected by a PIN code that you need to get access to the cryptographic keys stored on the wallet.