With traditional fiat currencies, storing is done by the big banks and financial institutes. When you are in control of your own money and there’s no one in between you and your wealth, you are the person that’s in charge of making sure you store everything properly. An extremely important topic in the cryptocurrency industry is security.
You should always take care of storing your funds in a safe place that gives you complete access to your coins at all times. Whenever something happens and you really need some cash, you should always be able to withdraw your tokens. Today, we’ll have a look at the best ways to store EOS. A protocol that’s supposed to emulate a real-life computer.
As one of the top-currencies out there, the storage of this coin is important. We’ve created a list of both mobile, offline and online wallets that allow you to make the right choice where to store your coins.
Top Best EOS Wallets
- Ledger Nano X
- Trezor One
- Atomic Wallet
- Scatter Wallet
Ledger Nano X
We start off with one of the safest means of storing your currencies: an offline wallet. This is a wallet that’s only online when you connect it to your computer when you are transferring your funds. Ledger is one of the companies that has been around for a long time in the field of offline storage. It’s a simple USB-stick that allows you to have full control of your coins. It offers a wide variety of tokens to be stored, including EOS. The Nano X is the newest in line that has the ability to connect to computers with the use of Bluetooth, has bigger storage than the previous versions and has internally upgraded the security once more. The only problem here is the fact that the Ledger Nano X is relatively expensive in comparison to other available options.
Similar to the Ledger family, Trezor is one of the more trusted offline wallet companies. They have been actively working towards optimal security for your funds and currently support dozens of currencies to be stored in the wallet. In fact, it integrates perfectly with some decentralized exchanges like the Binance DEX for example. It allows you to connect your Trezor with the use of USB and trade off your wallet directly, instead of having to transfer the funds back and forth. Trezor is a more technical, less slick-looking, wallet than the Ledger option, but in terms of security, it’s no less secure. A perfect way to store your EOS.
If you don’t feel like having to deal with an extra device as a hardware wallet, the Atomic Wallet could be your preferred option. It’s an online wallet that comes in the form of an online application. You simply install the application on your computer and your personal keys and passwords are stored on your computer in an encrypted way. This brings you the safety of not having your coins in custody of another party and the ease of having your coins stored online, so you won’t have to deal with bringing an extra device. The extra feature of this wallet is the ability to perform Atomic Swaps, allowing you to change your currencies for other currencies of your preference. Fun fact; ChangeNOW is a partner of Atomic Wallet that helps to allow users to perform these Atomic Swaps.
The scatter wallet is more than just a wallet. It’s designed to collaborate directly with the EOS Blockchain and nowadays even with the Tron and Ethereum Blockchain. It’s an online wallet that comes in the form of an application for your computer, MacOS, Linux or Windows. In fact, they had been the first EOS wallet out there that functioned as an extension in-browser. This has been closed down though in order to bring more users towards the application. Within the application, not only can you manage your funds, it can do way more than that. It allows you to directly use many of the dApps that are running on the multiple Blockchains associated with the Scatter wallet. It’s an open-source project that’s aiming to develop even further. Impressive set of work.
This wallet, the SimpLEOS wallet, is the only one in this list that’s designed solely for the EOS ecosystem. The wallet is created by the EOSRIO team, from Rio de Janeiro. They have a strong set of values: purpose over profit, collaboration over competition, community-driven, and transparency. The company behind the wallet is an EOS block producer which means they are doing everything they can to contribute to and develop the EOS Ecosystem. They claim to be completely transparent about their operations, which can be seen on their website that describes the way their wallet works in detail. It’s a desktop application that has many upcoming features to be added in future versions. If you’re a fan of EOS and want to support the ecosystem, this is a company to look out for!
What wallet you choose is totally up to you. There are always many factors to consider when choosing your preferred way of storing your coins. One thing should be clear: always make sure you have full control over your private keys! If these are not in your possession, you do not control your funds and someone else can walk away with your tokens. Take it as an important lesson. Not your keys, not your coins!