6 of the best wallets for storing and managing Ethereum Classic reviewed.
A continuation of the original Ethereum (ETH) blockchain, Ethereum Classic (ETC) was created in 2016 as a result of a hack, a philosophical debate and a hard fork. It’s now one of the top 20 cryptocurrencies by market cap, but if you’re thinking of buying ETC you’ll need to find a wallet where you can safely and securely store your tokens.
While there aren’t as many ETC-compatible wallets as there are wallets that support Ethereum, there are still several storage options well worth considering. Read on for reviews of 6 of the best Ethereum Classic wallets and advice on how to choose the right wallet for your needs.
Compare wallets for Ethereum Classic
What to look for in an Ethereum Classic wallet
When searching for the right Ethereum Classic wallet, make sure you keep an eye out for the following features:
- ETC compatibility. Make sure any wallet you choose is compatible with Ethereum Classic tokens. For example, some wallets provide support for Ethereum but not Ethereum Classic, so check the fine print closely before signing up.
- User-friendly interface. Particularly if you’re new to cryptocurrency, managing your coins and tokens can be complicated and confusing. With this in mind, choosing a wallet with a simple, straightforward and intuitive user interface is a big advantage.
- Security features. Look for a wallet that allows you to retain control of your private keys at all times. In addition, look for additional security features like multi-sig functionality, two-factor authentication and extra protection from a secure PIN.
- Backup options. Is the wallet easy to backup? What will you need to do to restore the wallet and access your funds in a worst-case scenario?
- Ongoing development. Check to see whether the wallet is from a reputable provider and is backed by a strong development team. Is it constantly being upgraded and improved to add extra features, support for more currencies and increased security?
- Customer support. It’s also important to know whether you’ll be able to access customer support if you ever have a problem with your wallet or a particular transaction. Find out what you need to do to contact the support team and whether they have a good reputation for actually offering timely assistance.
Top choices for storing Ethereum Classic (ETC)
Ledger Nano S (hardware wallet)
- Storing multiple currencies, good security features, easy set-up and use
- Cost, not as convenient as other options
If security is your main priority when storing ETC, you’ll most likely have a hardware wallet at the top of your shopping list. The Ledger Nano S is one hardware wallet worth considering, offering impressive security features and support for a wide range of cryptocurrencies.
This portable device connects to your computer via USB and provides a quick and simple set-up process. As well as ETC, it can also be used to manage Ethereum, bitcoin (BTC), Bitcoin Cash (BCH), Litecoin (LTC) and many other cryptocurrencies.
In terms of security, features include:
- An OLED screen and physical buttons for manual transaction confirmation.
- Private keys stored offline and protected by a secure PIN.
- Backup seed keys.
- Hierarchical deterministic (HD) wallet.
However, the trade-offs with hardware wallets are that they’re not quite as convenient as some other options, while they also aren’t available for free. The Nano S is listed for €79 (about AUD$125) on the Ledger website.
TREZOR (hardware wallet)
- Support for multiple cryptocurrencies, emphasis on security
- Cost, other wallets are more convenient
Another popular hardware wallet, the TREZOR has a similar focus on security and also supports a variety of cryptocurrencies. This USB device fits into the palm of your hand and just like the Nano S, features a built-in screen and physical buttons so that you can manually confirm all transactions.
As well as ETC, it also allows you to manage Ethereum, bitcoin (BTC), Bitcoin Cash (BCH), Litecoin (LTC), Dash (DASH) and more. There’s a PIN code required to use the device, with users locked out for an increasing amount of time after each incorrect entry, plus a 24-word recovery seed you can use if your TREZOR is stolen or lost. It’s also relatively easy to set up and use, allowing you to start sending and receiving ETC with a minimum of fuss.
Jaxx (desktop and mobile wallet)
- Simple to use, stores multiple cryptocurrencies, accessible from a wide range of devices
- Some security concerns to be wary of
If you’re looking for a wallet that’s easy to use, can be accessed from multiple devices and supports a wide range of digital currencies, Jaxx should be on your shortlist. This popular wallet was created in 2014 and has built itself a loyal following.
If you’re looking to store multiple cryptocurrencies, Jaxx supports ETC, BTC, ETH, BCH, LTC and more than 50 other currencies. It’s also available on a similarly diverse range of platforms and is compatible with:
- Android and iOS devices
- Windows, OS X and Linux operating systems
- Chrome browser extension
Jaxx also scores well for having a user-friendly interface. All the information you need is presented in an easy-to-understand manner, while ShapeShift integration is a convenient addition.
Unfortunately, Jaxx doesn’t offer any support for two-factor authentication, which could provide extra peace of mind for users, while 2017 reports of a security vulnerability that reportedly resulted in the theft of US$400,000 worth of cryptocurrency could also cause concerns.
Coinomi (mobile wallet)
- Practical and convenient storage, simple to use, holds a wide range of coins and tokens
- No iOS app at time of writing
However, for Android users Coinomi offers a long list of benefits. At the top of the list is its ease of use. There are no major complaints about the user interface and it’s quick and easy to start sending and receiving ETC. ShapeShift integration also allows for fast exchanges from one currency to another.
The next of Coinomi’s biggest selling points is the fact that it can store more than 130 cryptocurrencies. As well as Ethereum Classic, these include Ethereum, Bitcoin, Bitcoin Cash, Litecoin and Dash.
Private keys are stored on your device and Coinomi allows you to protect your anonymity, and the fact that this is a HD wallet means it’s easy to back up. If you’re looking for a secure and user-friendly mobile wallet, Coinomi is well worth a closer look.
Read our full review of the Coinomi wallet
Storing Ethereum Classic in an exchange walletOnce you’ve purchased ETC, you may be considering storing your tokens in an exchange wallet. While this is a simple and hassle-free option for anyone looking to place another trade, it’s not widely recommended for anyone looking to hold their tokens for the long-term.
This is not only due to the fact that cryptocurrency exchanges are attractive targets to hackers, but also because the private keys for most such wallets are controlled by the exchanges and not by their users. As a result, the most secure option is generally considered to be to move your tokens offline to a secure hardware wallet.
Trust Wallet (mobile wallet)
- Convenience, easy to use, supports an extensive range of tokens, dapp browser also available
- Not as secure as some other options
Your Trust Wallet address can be used to send and receive Ethereum Classic, but also to participate in ICOs or airdrops.
Private keys are stored locally on your device, and the app is available on Android and iOS phones.
Trust Wallet also offers a Web3 browser that can be used to interact with any decentralised application (dapp).
The downside is that Trust Wallet doesn’t offer the security features of some other wallets, with no two-factor authentication or multi-signature functionality, and simply can’t offer the same high level of safety as hardware wallets.
ClassicEtherWallet (web wallet)
- Allows you to control your private keys, designed with ETC in mind
- Previous hack reported, not as user-friendly as some other options
ClassicEtherWallet is the Ethereum Classic fork of this platform and offers all the same features as the original.
Though we’ve classified it as a web wallet, this is a little different to other web wallets in that it allows you to control your Ethereum Classic private key on your computer.
ClassicEtherWallet.com does not hold your keys for you and none of your private data is stored on its servers.
It’s quick and simple to create a new wallet and start sending and receiving funds. However, it must be said that there are wallets with better user interfaces that cryptocurrency novices will find easier to understand. It’s also worth pointing out that ClassicEtherWallet reportedly fell victim to a social engineering hack in June 2017.
Tips for securely storing your Ethereum Classic
There’s plenty more you can do to safeguard your ETC tokens or any other crypto holdings, such as:
- Going offline. If you want to store a large amount of cryptocurrency for an extended period, many crypto enthusiasts recommend using cold storage. Investing in a hardware wallet may be well worth it to provide increased security for your coins and tokens.
- Setting secure passwords. Resist the temptation to enter a lazy password you also use on other accounts; instead, create a strong password with multiple characters, letters and numbers, and upper and lower cases.
- Using all available security features. If a wallet offers special features for increased security, use them. From two-factor authentication to extra PIN protection and multi-sig functionality, taking advantage of these options provides increased peace of mind.
- Updating your antivirus protection. Make sure all devices you use to access your wallet are protected by the latest antivirus and anti-malware software.
- Researching all wallets. To prevent yourself from being tricked by scam wallets or signing up for a wallet with inadequate security, take some time to look into the background of any wallet you want to use. Consider its reputation, the team behind it and reviews from other users before making your final decision.
At the time of writing, the author holds IOTA and XLM.