Best EOS Wallets: Top 2 Cold Storage Hardware & Top 3 Desktop Software Apps
One of the top cryptocurrencies in the market, EOS is a user-friendly blockchain powered, ethereum based decentralized platform. Its unique selling point lies in its ability to improve upon ethereum’s known flaws. One of these is the ability to scale as at when needed –something ethereum is still struggling to do.
EOS also directly powers many decentralized apps and puts power back on the hands of the developers themselves. This means that using the platform essentially eliminates brokers and middlemen, while enabling easy p2p connections.
Its feature packed platform provides a legitimate use case; one that many are willing to get behind. EOS still has room for growth in value. Investing in it will be a smart money move for any potential investor.
Once you buy your EOS tokens, the next thing to do is store it in a safe place, preferably one of the best EOS wallets we’ll be talking about shortly. EOS tokens are best stored in ERC20 supported wallets. These wallets are easy to use, attract zero costs, are capable of handling lots of transactions, and very fast with transfers often being instant.
The following are those we consider the best wallets you can use to store your EOS tokens in 2018 and beyond. We’ve split them into the best EOS hardware wallet also known as cold wallet, and the best EOS software wallets. Each wallet type has its pros and cons.
Best EOS Hardware/Cold Wallets
The best EOS hardware wallets are perfect for cold storage. They are designed to protect your EOS tokens from being hacked or stolen. People who use this typically do so when they want to store their tokens for a medium to long term period. These wallets are common among investors because they are the safest, most secure means of storing EOS tokens
One of the more popular wallets, this hardware wallet is an effective cold storage device. Built as an encryption based USB drive, it provides great security for your cryptocurrencies.
The hardware comes with multiple security layers designed to keep your tokens safe, two stage security verification, advanced encryption technology and safety measures for your tokens.
The only way you can lose tokens stored in this wallet is to either hand over the flash along with its private and encryption keys or to lose the thumb drive itself. Even when connected to an internet enabled PC, hackers will find it almost impossible to hack if you keep your codes safe.
Its high level cryptography makes for a truly secure hardware wallet. While the TREZOR wallet is great for EOS tokens, it also works for ERC20 tokens, ethereum and bitcoins. So, you only need one to store all the major cryptocurrencies.
Ledger Nano S Wallet
Another very popular hardware wallet, the Ledger Nano S Wallet is compatible with most top cryptocurrencies, which makes it perfect as an EOS wallet.
Unlike TREZOR, it does have an interface –an OLED screen- as well as some buttons that makes moving your tokens to and from the wallet easy. If you eliminate the hassles ass coated with confirming your codes, token quantity and so on, this is perfect.
Transferring your tokens is as easy as plugging it into your computer, and transfer. Setting up the wallet is pretty straightforward and easy for beginners. So, you don’t need to worry about any techy stuff.
Ledger Nano S is an incredibly effective, secure EOS wallet. It also provides multiple security layers as well as comes with military grade encryption tech that’s guaranteed to make it unhackable.
The only way anyone is going to get your cold stored tokens on this device is by forcing you to reveal it or by getting your codes. And even when they have your codes, the two factor authenticator can make stealing your tokens nearly impossible. The only way they can override the 2FA is to have access to your phone.
Best EOS Software And Desktop Wallets
While the hardware wallets are primarily meant for cold storage, EOS desktop and software wallets are great for daily trades and short term storage.
This is why they are called hot wallets. While these have great security, they aren’t as secure as their hardware counterparts. Why? Because they are connected to the internet –more specifically, the devices they are on.
These are usually on your PC or mobile device, which means as long as you are online, you’re always at risk of being hacked.
Myetherwallet is one of the more popular web and software wallets, and is primarily popular because of ethereum. It’s one of the easiest ERC20 compliant wallets and was created for ethereum. This makes it a good web wallet for your EOS tokens.
This open source wallet’s popularity, ease of use and security makes it the wallet of choice for EOS and many other cryptocurrencies. Users can either store their cryptocurrencies in the web wallet or download the software and keep them there.
Since this is a hot wallet, you need to take all the necessary precautions to secure the tokens. Always use two factor authentication, use long hard to decode passwords, generate private keys and keep them safe, update your antivirus and computer security, and install the app itself on a virtual machine.
One of the most appealing features of this EOS wallet is its user friendliness and design. It is a desktop wallet that helps keep your tokens safe.
It does this by storing tokens in its own internal wallet, thus eliminating the need to download the blockchain.
This makes it very fast, and easy to transfer and store EOS tokens. Exodus wallet can also store multiple crypto token types. This way, you can easily have all your different cryptos in one spot.
While Jaxx wallet isn’t as aesthetically appealing as the first two, its security is top notch. It is an excellent EOS wallet that also integrates exchanges, making it easy to trade cryptos from it.
Currently able to support just 7 cryptos, it was designed to be very user friendly, which is why beginners can easily set it up and use it to store their crypto tokens.
These are all the best 2018 EOS wallets that are available to you today. We’ll update this article with new ones when we find them. For now, these wallets will keep your tokens safe and secure. Just make sure to keep your computing equipment secure and protected. Good luck.