Our review of the best EOS wallets to help you safely store your EOS tokens.
Designed as a scalable and user-friendly version of Ethereum, EOS is a platform for the development of decentralized applications (dapps). EOS tokens are the native token of the platform, and this cryptocurrency is firmly established as one of the 20 biggest digital currencies by market cap.
Compare wallets for EOS
What to look for in an EOS wallet
To ensure that you find a safe and secure EOS wallet, remember to look for the following features:
- Security features. Ensuring the security of your EOS tokens is hugely important. Check what features a wallet offers to protect your funds against hacking and theft, such as 2-factor authentication, advanced encryption and more.
- Private keys. You need your private keys to be able to send and receive funds using your cryptocurrency balance, so look for a wallet that allows you to retain control of your private keys at all times.
- Continued development. Make sure that any wallet you choose is continually being upgraded and developed with new features and improvements. This will help ensure that it’s as functional as possible and provides protection against the latest security threats.
- Customer support. Will you be able to quickly get in touch with the wallet provider’s support team if you ever experience any problems? Does the team promptly (and helpfully) respond to customer questions?
- Positive reviews. Finally, check out independent reviews from other users of a wallet. Would they recommend it to others? Is it backed by a strong development team? Does it have any security flaws?
Considering these issues will help you narrow the field down to a selection of suitable wallets. Now let’s take a look at some of the best wallets for storing EOS tokens.
EOS and ERC20-compatibilitySince the full release of the EOS platform in June 2018, EOS is no longer an ERC20 token on the Ethereum blockchain. If you’re choosing a wallet to store your EOS tokens, ERC20-compatibility is no longer relevant criteria to consider.
TREZOR (hardware wallet)
- High level of security, supports multiple cryptocurrencies, secure and easy to use
If you’re keen to store your EOS in a hardware wallet, it’s also worth taking a closer look at the TREZOR USB wallet. Another popular cold-storage option, this device allows you to store EOS, bitcoin, Ethereum and a wide range of ERC20 tokens, and you can use the TREZOR’s compatibility with MyEtherWallet to manage your EOS tokens.
Just like the Nano S, this hardware wallet features a built-in screen and manual buttons for confirming transactions. It also includes 2-factor authentication and advanced cryptography to provide a high level of protection for your crypto funds.
The setup process is reasonably simple and straightforward, and it doesn’t take long to understand how everything works.
The downside of this option is once again the cost. At around $106 at the time of this writing, it’s slightly more expensive than the Nano S, so do your research before deciding which wallet is the right choice for you.
Tips for securely storing your EOS
Want to keep your EOS or any other crypto coins and tokens as safe as possible? Remember these important tips:
- Research before you transfer. Before transferring your EOS tokens to any wallet, make sure you thoroughly research the pros and cons of the wallet to make sure it’s right for you. Also be careful to only use wallets from reputable providers.
- Watch out for scams. Hackers and thieves sometimes target crypto holders using fake websites with very similar URLs to those of official, reputable wallets. Double-check URLs before visiting sites and downloading any software.
- Test it first. If you’re using a new wallet, you may wish to transfer a small amount of cryptocurrency into it first to make sure it’s safe, legitimate and works as promised. Once you’re happy with its functionality, you can then transfer a larger balance over.
- Secure your wallet. While it might take a little time to set them all up, make an effort to use all the available security features your wallet provides. There’s no such thing as too much protection, so switch all available protective measures on before storing any funds.
- Update your antivirus protection. Make sure you’ve got the latest antivirus protection installed on any device you’ll be using to access your wallet. Update it regularly to protect against new threats.
- Pick your password carefully. When choosing a password, don’t just phone it in; use upper- and lowercase letters, numbers and other characters to create a code that’s essentially impossible to crack.
At the time of this writing, the author holds IOTA and XLM.