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Top 16 Best Ethereum Wallets [2020] – ETH & ERC20 Crypto Wallets

Ethereum is the blockchain protocol with the most active developers and the most projects built on top of its platform. That’s why we have put together this comprehensive guide to help you choose the best Ethereum wallet for you. Its native cryptocurrency, Ether, has the second-highest market valuation behind the original cryptocurrency Bitcoin, so it is no surprise that loads of people […]

Top 16 Best Ethereum Wallets [2020] – ETH & ERC20 Crypto Wallets was originally found on Blokt – Privacy, Tech, Bitcoin, Blockchain & Cryptocurrency.

Republished by Plato



Ethereum is the blockchain protocol with the most active developers and the most projects built on top of its platform. That’s why we have put together this comprehensive guide to help you choose the best Ethereum wallet for you.

In this extensive guide, we look at 16 of the best Ethereum wallets

Its native cryptocurrency, Ether, has the second-highest market valuation behind the original cryptocurrency Bitcoin, so it is no surprise that loads of people have become interested in investing and trading Ether and Ethereum tokens.

There has also been a surge in decentralized finance (Defi) Dapps built on on Ethereum which has opened it up to far more users. ETH heads can now use stablecoins such as Dai which are pegged to the US Dollar but use ETH as collateral.

However, before we can start trading and investing, we need to understand the basic principles of how an Ethereum or general crypto wallets work.

Private Keys and Addresses

Blockchain-based assets and currencies are normally called cryptocurrencies, crypto assets, or simply cryptos because they all depend on cryptography.

On a very simplistic level, cryptography is the use of mathematics to send, receive, conceal, or reveal information.

Private keys are essentially the secret code that controls your information, which in this case, would be your crypto assets.

Knowing an account’s private key means users have complete control of that account’s assets without having to go through any intermediaries.


(Ethereum private key example)

Using cryptography and with access to the private key, we are able to generate — through many complicated steps — an address, which represents your account.

It can be thought of like a mailbox or an email address that people can send things to, but you can only send things from it if you have the private key.

The address is the public face of your account and can be shared with anyone but no one can figure out your private key from only knowing your address thanks to the genius of cryptography. An Ethereum address always begins with 0x.


(Ethereum address example)

What is a Wallet?

The term “wallet” is kind of a misnomer in that crypto wallets don’t actually hold any assets. Wallets can only contain access to private keys, which in turn control crypto assets.

Functionally, wallets allow users to create new accounts and send assets, although different wallets have different features and functionality.

It would be more accurate to call a wallet, a keyring or keychain because it controls and has access to different types of keys but we’ll go with ‘wallet’ seeing as everyone else does.

The differences between different types of wallets revolve around how each wallet deals with private keys.

Paper Wallets

The most basic type of wallet is known as a “paper wallet,” which is a piece of paper with your private keys written or printed on it.

The information on this piece of paper is all that is needed to control all the assets on an Ethereum account.

A paper wallet is secure in that it is possible to keep it from every other person or system on the planet and only you can know about its existence, its location, or how to access it.

Paper wallets are insecure though because if you lose it or it gets damaged beyond recognition, there is no possible way to recover your funds. You have lost those assets forever.

To counteract this vulnerability, some people make multiple copies of their paper wallet and put them in different locations or keep the paper wallet in a secure spot such as a safety deposit box at a bank.

Paper Wallet generated using MyCrypto
Paper Wallet generated using MyCrypto

Hot vs Cold Wallets

Paper wallets fall under the category of ‘cold wallets,’ which means that they are completely disconnected from the internet. This makes cold wallets more secure and less vulnerable to software-based attacks.

Hot wallets, on the other hand, are connected to the internet, so they are more accessible and useful for frequent transactions but are also more vulnerable to hackers.

In general, cold wallets are better for securing large amounts of funds and hot wallets are better for everyday transactions and usage.

Software Wallets

Exchanges Ethereum-Specific Ethereum Interfaces
Coinbase Binance MyEtherWallet MyCrypto Mist MetaMask
Private Keys Platform Controlled Platform Controlled User-Controlled User-Controlled User-Controlled User-Controlled
Backup/ Recovery Options Yes Yes No No No No
Cold or Hot Wallet Hot Hot Hot Hot Hot Hot
Interact with Dapps No No No No Yes Yes
Ethereum Software Wallets
The table above will help you choose a software wallet to store your Ether.

Cryptocurrency Exchanges

The most common way for people to buy their first crypto asset is through an exchange which allows people to trade between fiat currencies and cryptocurrencies.

Exchanges also act as wallets because the platform controls the private keys on behalf of the user.

The benefit of having a platform control your private keys is that your funds or assets are recoverable if you lose your password.

Coinbase is one of the oldest and most trusted exchanges. It was founded in 2012 and has over 20+ million users as well as backing from some of the most respected investors in the world.

Coinbase is also one of the most legally compliant cryptocurrency exchanges globally.

It is connected to the traditional banking system in Europe and the United States, so it is fairly easy to convert fiat currencies such as the US Dollar and the Euro to Ether.

Coinbase platform and app
Coinbase platform and app

Binance is the largest cryptocurrency exchange in the world in terms of trading volume.

While Coinbase is mainly available in the U.S. and Europe, Binance is accessible across continents and has even made progress expanding to Africa.

Furthermore, Binance has many more crypto assets available for trading when compared to Coinbase, which has a much stricter process for listing new crypto assets.

Both Binance and Coinbase control private keys on behalf of their users, so funds are controlled by the username and password used to access the platform.

Binance platform and app
About Binance platform and app

Ethereum-Specific Wallets

MyEtherWallet and MyCrypto are wallets that are used specifically for Ether and Ethereum tokens so they do not interact with cryptocurrencies from other blockchains such as Bitcoin or XRP.

Ethereum tokens are assets or currencies, which have been created on top of the Ethereum platform.

Tokens can have a wide variety of purposes and are different from Ether itself, which is the fuel that runs the Ethereum network.

The most popular type of Ethereum token is called an ERC20, which is a token created using a common standard that allows any ERC20 token to be easily traded with another ERC20 token.

The second most common token is called an ERC721 or a non-fungible token, which is unique and cannot be broken up into smaller parts.

For simplicity’s sake, I will refer to both ERC20 and ERC721 tokens as just Ethereum tokens.

MyEtherWallet (MEW)

One of the oldest and most popular web-based, Ethereum-specific wallets is MyEtherWallet (MEW).

MEW does not control private keys on behalf of the user and instead allows users to create new accounts and access existing accounts to send transactions.

Myetherwallet is the best Ethereum wallet

MEW also has a smartphone app called MEWconnect that allows users to access the functions of MEW from their mobile devices.

My Ether Wallet platform and app

Taylor Monahan, the co-founder of MyEtherWallet, started MyCrypto in February 2018 as a fork of the MyEtherWallet codebase.

A fork means that both products have the same software or code up to the point in which they split. Once separate, two distinct products are born from the different coding decisions made by the teams.

MyCrypto claims to have started in 2015, but it is difficult to say which product or team is the original. It has very similar core features, such as the ability to create new accounts and send transactions on existing accounts.

MyCrypto platform and app
MyCrypto platform

MyCrypto has also developed a desktop application, which is more secure because it doesn’t have to be connected to the internet to function and is capable of doing things like accessing an account via a private key, which the web version does not allow any more.

MyCrypto platform and app
MyCrypto platform and app

Ethereum Interfaces

The primary purpose of Ethereum is to be a platform that runs smart contracts or decentralized applications (dapps), which means that Ethereum is meant to be more than simply a way to send and receive assets or currency.

Its true potential is in enabling the creation of computer programs that can control value that executes automatically when certain pre-defined conditions are met.

In order to access these dapps, an interface is required that can send data to the dapp, and a wallet with Ether is required in order to pay for transactions on the dapp.

The original Ethereum wallet was Mist, which functions as both a simple wallet and as an Ethereum browser.

Like traditional web browsers such as Chrome or Safari that allow users to interact with regular websites, Mist enables users to interact with dapps on Ethereum.

Mist is a desktop application in which the user controls private keys. It also allows the user to run a node, which is a critical component of Ethereum’s infrastructure and keeps a record of all the transactions that have happened on the network.

When Ethereum was first released, and Mist was the only wallet available, users had to wait for their nodes to sync before being able to make any transactions, which sometimes took hours or even days!

Though popular when Ethereum was first released, Mist has declined in popularity in recent years due to the explosion of competing Ethereum interfaces, wallet programs, and applications.

Mist node syncing in 2016
Mist node syncing in 2016

MetaMask is the most popular Ethereum interface with over 1 million downloads.

It works as a browser extension instead of a standalone desktop program and allows users to interact with dapps.

The user controls the private keys, and it functions as a wallet because it also allows users to manage their funds and crypto-assets.

MetaMask has become the preferred option for interacting with Ethereum dapps.

MetaMask have recently been working on the launch of version 8.0 of their Chromium wallet extension, and have launched the Metamask Mobile beta version which is due for full release very soon, with over 100,000 downloads already.

MetaMask Extension Log In Screen
MetaMask Extension Log In Screen

Hardware Wallets

Hardware Wallets Mobile Phones
Ledger Trezor KeepKey Sirin Finney HTC Exodus Samsung Galaxy S10
Private Keys User-Controlled User-Controlled User-Controlled User-Controlled User-Controlled User-Controlled
Backup/ Recovery Options Yes Yes Yes Yes Yes Yes
Cold or Hot Wallet Both Both Both Both Both Both
Interact with Dapps No No No Yes Yes Yes

Hardware wallets are self-contained devices with specially designed hardware that is optimized for security. Unlike software wallets, hardware wallets can function as either cold or hot wallets.

Hardware Wallets Which Support Ethereum
There are a few leading hardware wallets which support Ethereum

Hardware wallets allow users access to their private keys without having to be connected to the internet. However, they also have the option of connecting to the internet when assets transfer or crypto-related functions need to happen.

Hardware wallets are essentially a portable hard drive that stores your private keys and helps manage or secure crypto assets. There is commonly a digital display and some kind of interface on the device.

Hardware wallets usually come with the ability to have a passcode, which adds a second layer of security, before being allowed to access it.

These companies also offer the option of holding a backup copy of a user’s private keys, which allows you to recover your private keys in case the device is lost or stolen.

As opposed to all the wallets mentioned above, hardware wallets cost money.

Ledger Wallets

The Ledger line of hardware wallets is one of the oldest and most popular hardware wallets on the market with over 1 million products sold.

They support over 1000 different crypto assets, including Ethereum and Ethereum tokens. They have even created a software application that is compatible with all their hardware devices called Ledger Live.

Ledger’s three main products are the:

Ledger Nano S

  • Cheapest and most popular product
  • A USB device with a simple display and two buttons
  • Funds are protected via a secret PIN
Ledger Nano S
Ledger Nano S

Ledger Nano X

  • All the features and simplicity of the Ledger Nano S
  • Can be connected securely via Bluetooth
  • Compatible with their Ledger Live mobile app
Ledger Nano X
Ledger Nano X

Ledger Blue

  • Ledger’s most advanced wallet, which includes a large touchscreen interface
  • Compatible with the Ledger Live app
  • Capable of installing additional apps on the device
Ledger Nano Blue
Ledger Nano Blue

Trezor, like Ledger, is also a well-established and trusted hardware wallet company having supported Bitcoin before Ethereum and other blockchains became popular.

Now, it also supports Ethereum, Ethereum tokens, and hundreds of other crypto assets. They offer simple interfaces, security-focused technology and extra layers of protection using passwords and PIN numbers, as well as backup and recovery options.

The Trezor team have worked hard to match the simplicity of Ledger’s devices, recently bringing out the ‘Trezor Wallet’, which functions a lot like Ledger Live and makes it easier for users to manage and control the assets stored on their Trezor device. 

Trezor Wallet is plug-and-play, so users can start using their Trezor device straight out of the box without any complex setup process.

The Trezor wallets have a unique and distinctive design. Their wallets include the:

Trezor One

  • A USB device with a simple display and two buttons
  • Emphasizes quick and easy use
  • Integrates with MyEtherWallet

Trezor Model T

  • Similar to the Trezor One with an interactive touchscreen display and interface

KeepKey was developed by online crypto exchange, ShapeShift, and is fully integrated with ShapeShift so that users can exchange different crypto assets from the device.

There is only one KeepKey product on the market so far, but like Trezor and Ledger, it offers an isolated and secure device with a simple display and button interface that is capable of functioning as a cold wallet.

KeepKey also features PIN or password protection as well as backup and recovery options.

SelfKey recently acquired web 3.0 interface application Portis, which functions similarly to MetaMask and lets users securely interact with dapps.

It’s likely that in the future, KeepKey users will be able to easily access dapps through Portis without revealing their private keys.

KeepKey Wallet
KeepKey Wallet

Mobile Apps

Many wallets are also available as applications on mobile devices such as Coinbase, Binance, MyEtherWallet, and Ledger.

Lumi Wallet

Lumi Wallet is available as an app for IOS and Android, as well as on the web. All the configurations are client-side, meaning that private keys are stored only on the users’ devices.

Lumi ETH Wallet
Lumi Wallet has a nice. simple interface

Initially developed as a Bitcoin wallet, Lumi shortly integrated BCH, Ethereum, and more than 1200 Ethereum tokens. Lumi Technologies, the company behind the wallet, recently announced adding an in-app browser to Lumi to interact with Ethereum dapps. At the moment, it is introducing full EOS support, which will grant users the opportunity to create new EOS accounts for free. Lumi wallet is a soon-to-be-open source.

Lumi is recognized for its eye-catching and straightforward interface. Users can buy and sell a wide range of available digital assets via an in-wallet exchange. It is entirely anonymous and doesn’t require users to provide any personal information.

Lumi Technologies has additionally released the Lumi Collect app for ERC721. This wallet is equipped with a browser for Ethereum dapp interaction and sidechain support.

Guarda Wallet

Guarda supports various platforms, including Android and Apple mobile devices. It supports over 40 blockchains and thousands of tokens, including BTC, ETH XRP, BCH, BSV, XMR and many more. Supported cryptos can be purchased directly from within the wallet, and coins can also be exchanged using the built-in exchange service.

The Guarda Wallet is custody-free, so private keys are not stored by the company, meaning users are responsible for keeping their keys safe.

As we mentioned above, MetaMask is currently developing its own mobile app. The app is currently in beta release, available on Android and iOS.

The functionality of these apps are generally the same as the web versions, and there are hundreds of other mobile apps available that function as crypto-asset exchanges, Ethereum wallets, and Ethereum interfaces so we won’t go over all that in too much detail right now.

Blockchain Native Phones

The next and most exciting phase of Ethereum wallets will be wallets that are native to smartphones or smartphones built with blockchain functionality specifically in mind.

These phones will combine the security features of a hardware wallet, with the familiar interface of a mobile app on a device that we are all so dependant on already.

The difference between these phones and other smartphones is not only specialized hardware but also that they have blockchain applications such as wallets already built-in so users will not have to download any extra applications in order to send or receive crypto assets.

Sirin Finney

The Finney by Sirin Labs is the most blockchain-focused smartphone on the market.

The Sirin Labs team initially created the Solarin, which they branded as the “world’s most secure mobile phone” costing over $14,000, so the team is no stranger to security.

It has created everything on the Finney from the ground up including its own operating system and cryptocurrency called the Sirin Token.

It was even launched through a crowdsale or Initial Coin Offering, which raised $157 million, making it a genuinely blockchain-native phone.

The Finney can interact with decentralized applications and has cold wallet capabilities.

The wallet, which pops up at the top of the phone is its most distinctive feature in both looks and functionality.

For security, the wallet has its own hardware, which is separate from the general hardware of the phone.

Tech Radar Hands-On Review of the Finney
Tech Radar Hands-On Review of the Finney

Reviews have been somewhat mixed, with the general consensus being that this is a niche phone for the crypto enthusiasts with decent features.

A ZDNet review states:

“No-one, least of all Sirin Labs, is claiming that the Finney will occupy anything other than a niche in the smartphone firmament — although the company is forecasting sales in the hundreds of thousands. If you’re not a cryptocurrency enthusiast, you can certainly get a better phone for $899. Not that there’s anything wrong with the Finney, which is a well-built handset.”

Sirin Labs have recently indicated that they may abandon production of their ultra-luxury blockchain phones, and instead focus on selling the encrypted software to other smartphone companies – so be aware these handsets may not receive updates in the future.

Digital Trends Sirin Finney Review
Digital Trends Sirin Finney Review

HTC Exodus

The HTC Exodus is the first blockchain native phone built by a major well-established corporation, HTC.

Like the Finney, it emphasizes security to protect your crypto assets and allows users to easily interact with decentralized applications as well as exchange different crypto assets.

The HTC Exodus uses a specially designed secure hardware or “vault” called Zion, which protects the private keys of users.

Its marketing is centered not only on protecting the user’s crypto assets, but also the user’s private data.

The HTC Exodus includes an exciting concept for backup and recovery called “social key recover” in which you split your recovery keys among 3 to 5 of your most trusted contacts.

Wired HTC Exodus 1 Review
Wired HTC Exodus 1 Review

Samsung Galaxy S10

The newest smartphone with native blockchain support will be the Samsung Galaxy S10.

This will be the most mainstream or popular product line to have a pre-installed crypto wallet and blockchain-specific features.

Furthermore, the Galaxy S10 will support both Ether and Ethereum tokens, but not Bitcoin, the original cryptocurrency.

The release of the Galaxy S10 is a massive leap in terms of mainstream adoption of Ethereum.

The most explicit blockchain feature of the Galaxy S10 is their “Blockchain Keystore” app, which allows for features such as crypto payments and transfers, secure crypto storage, and digital signatures.

This Blockchain Keystore is where the phone securely stores the user’s private keys and generates new private keys and addresses.

Samsung also keeps a backup of users private keys in case they lose the phone or accidentally delete their password.

Samsung recently announced the arrival of their S20 smartphone, coinciding with the start of the new decade, which will support Bitcoin, Ethereum, and TRON (TRX) in its native wallet from factory settings.

“Security: Galaxy S10 is built with defense-grade Samsung Knox, as well as a secure storage backed by hardware, which houses your private keys for blockchain-enabled mobile services.”

Which Is the Best Ethereum Wallet?

There are a wide variety of Ethereum wallets with more being developed every day. Moreover, the ones that are used have overlapping functionality and features, which are constantly changing.

This has been an attempt to cover a wide variety of Ethereum wallets in limited depth. The best wallet really depends on what you value and how you plan to manage your crypto assets.

Paper wallets have maximum security from hackers but are also one of the most vulnerable to human error or physical damage.

Centralized exchanges such as Coinbase and Binance offer customer service and allow users to recover their funds in case of lost passwords, but you have to trust that they are and will continue to be reliable.

Ethereum-specific wallets and interfaces such as MyEtherWallet, MyCrypto, and MetaMask offer more functionality and keep private keys in your control, but will be unable to help if you ever lose those private keys.

Hardware wallets and blockchain native phones seem to offer the best of both worlds, allowing user control of private keys along with backup and recovery options, but they cost money.

I hope this guide helps, but as always, do your own research and choose wisely.


Disclosure: Blokt strives to provide transparent, honest reviews, and opinions. The writer of this article is a user of the product(s) or service(s) mentioned in this article and was not influenced by the respective owners.

We rarely run ads, but sometimes earn a small commission when you purchase a product or service via a link on our site. Thank you kindly for your support.

Read more or donate here.

Blokt is a leading independent privacy resource that maintains the highest possible professional and ethical journalistic standards.



NextGen Blockchain Platforms Self-Organize to Win Government Contracts

Republished by Plato



Over the past year, blockchain development communities have turned their attention towards winning government contracts.

Washington, DC. There is a huge opportunity presented by increased government spending on blockchain projects. According to Bloomberg Government BGOV200 Report, federal government spending reached $597 Billion in 2019. However, since new businesses face barriers gaining direct access to government contracts, many have joined the Government Blockchain Association (GBA) to introduce their cutting-edge blockchain platforms to the public sector.

Traditionally government program managers choose to work with the same few legacy companies. For example, there are currently over 4.1 million US Federal government contractors but of the $597 billion in prime contracts awarded in FY19, the top 10 government contractors received $173.4 billion according to Bloomberg Government. However, the COVID-19 Global Pandemic was a catalyst that necessitated governments from around the world look at bold and innovative new ways to solve problems from a more diverse community.

 In March of 2020 the US Department of Health and Human Services hosted a virtual Pandemic Response Hackathon. This hackathon idea completely changed the former process of government acquisitions. The slow pattern of the past was rewritten to adopt to the chaos, uncertainty, and urgency of COVID. Government contracts went from a centralized channel to open and decentralized solutions coming in from completely new sources. A new way of doing business was introduced to the world stage, and in November 2020 the Indian Ministry of Electronics and Information Technology (MeitY), National Informatics Centre (NIC) held their own up a GovTech Hackathon. Throughout 2020, countless examples of crowdsourcing solutions contested the traditional procurement processes.

Along with new paradigms in acquisitions, 2020 brought explosive growth of decentralized development communities and platforms. Decentralized communities operate on independently run servers, rather than on a centralized server owned by a business. Initially, most blockchain solutions were private-permissioned blockchains dominated by a single vendor. One of the most popular government blockchain solutions is Hyperledger Fabric. Though it is technically an open-source project, almost 80% of software changes to Hyperledger Fabric came from IBM, demonstrating an ongoing dependence on IBM to maintain the code.

Lately, next gen blockchain solution providers have been self-organizing into working groups and communities to compete in the contracts space. The largest and most engaged of these decentralized communities is the Government Blockchain Association, with members in over 500 Government Offices, thousands of public and private sector members in 120 Chapters, and more than 50 Working Groups, and 25 Communities of Interests. They also host regular online and in-person events to introduce blockchain solution providers to government officials, promoting this new diverse community.

Some of these next gen blockchain leaders include:

  • DragonChain – DragonChain is an enterprise and start-up-ready platform to build flexible and scalable blockchain applications. It has business-ready applications and developer-friendly integrations that support many applications including learning management systems, decentralized identity, and anti-fraud and compliance solutions.
  • NEM – A community that has developed two blockchains. They are NEM NIS1 and Symbol. NEM NIS1 is the original blockchain offering from NEM, created by the community, and optimized to be a developer’s sandbox. With zero downtime or major outages since 2015, NIS1 is the blockchain you can trust for all your project needs. Symbol is the next-generation enterprise-grade blockchain solution from NEM, purpose-built to help businesses cut costs, reduce complexities, and streamline innovation. With major upgrades in flexibility, security, speed and ease of use, the Symbol platform is the best-in-class blockchain enterprise solution.
  • Simba Chain – SIMBA Chain is a cloud-based, blockchain-as-a-service (BaaS) platform, enabling users across a variety of skill sets to implement decentralized applications (dapps). These apps allow secure, direct connections between users and providers, eliminating third parties. The easy-to-use platform is tailored for users, developers, government, and enterprises to quickly deploy blockchain dapps for iOS, Android, and the web.
  • TON Labs – TON Labs is the core developer of Free TON, comprised of a decentralized team focused on developing the infrastructure and free software for TON OS. TON OS is a full-fledged, vertically integrated technology stack that helps developers work easily with the blockchain and makes it simple and intuitive for users.

Decentralized blockchain projects include the Government Business Blockchain Platform (GBBP). This multi-blockchain platform allows solutions built on any blockchain to connect and become available to governments around the world. Sub-set eco-systems include Emergency Management, Healthcare Delivery, and Citizen Services. Blockchain applications can interconnect on the GBBP, providing identity management, logistics, asset management, payments, and many other blockchain services.

These examples demonstrate how blockchain providers are working together, self-organizing into decentralized entities to build public-facing blockchain solutions. GBA groups regularly host online meetings to discuss their projects. Anyone interested in joining the discussion can find out more on the GBA Events Calendar or Events List. Later this year the GBA will be bringing World-Class Leaders to Washington, DC for Government Blockchain Week on Sept 27 to Oct 1, 2021.

For more information attend a free online event called NextGen Blockchain Platforms on March 17, 2021 or send an email to

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Robinhood Reports 6 Million New Crypto Traders in 2021

Republished by Plato



In a blog post on Feb. 26 titled “Crypto goes mainstream” the retail trading app revealed that it had seen six million new customers on Robinhood Crypto so far this year.

The number of new monthly customers buying from its crypto platform in 2021 is 15 times the 2020 average.

“By comparison, this number peaked at 401,000 in a single month last year, with a monthly average of about 200,000 customers trading on Robinhood Crypto for the first time during 2020.”

Robinhood, which had to halt trading in late January due to overwhelming demand, offers just seven tradeable crypto assets; Bitcoin, Bitcoin Cash, Bitcoin SV, Dogecoin, Ethereum, Ethereum Classic, and Litecoin.

There are no trading size limits though it added that the average transaction size is around $500. The chart provided indicates that the average trade was around half of that at $200 to $250 for the previous year.

Retail Traders Surging

The app offers an intuitive user interface and educational articles that explain cryptocurrencies. It is targeted at newbies that may not have the technical knowledge to operate more advanced trading platforms.

It also offers zero-fee trading, but makes money on spreads between makers and takers.

The report reinforces the premise that retail has arrived after months of steady institutional investment which has pushed many high cap crypto assets including Bitcoin and Ethereum to their highest ever prices.

“The numbers are clear: 2021 has started with a crypto bang.”

In a Feb. 18 note from company CEO and co-founder, Vlad Tenev, it was revealed that the total value of customer assets on Robinhood (for all markets) exceeds the net amount of money they have deposited by over $35 billion. He added;

“While markets fluctuate, this tells me that our business model is working for everyday Americans.”

Crypto Correction Deepens

The Robinhood numbers are bullish for overall sentiment, but the crypto correction is deepening and March is usually a bearish month for markets.

Since its all-time high of $1.78 trillion on Feb. 22, total market capitalization has declined by 18% to $1.46 trillion today according to Coingecko.

Bitcoin has been leading the drop as usual with an 18.7% fall from its $58k peak last weekend to just over $47k at the time of press. Meanwhile, Ethereum has been hit even harder, retreating 27% from its ATH of over $2k to below $1,500.

Another 30% correction could be on the cards, echoing the one that occurred in early January when Bitcoin prices dropped below $30k before recovering to a new high. The bigger picture still paints a bull market.

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Kraken Daily Market Report for February 25 2021

Republished by Plato




  • Total spot trading volume at $1.86 billion, near the 30-day average of $2.08 billion.
  • Total futures notional at $780.0 million.
  • The top five traded coins were, respectively, Bitcoin, Ethereum, Tether, Cardano, and Polkadot.
  • Strong returns from Lisk (+16%), Litecoin (+11%), Synthetix (+12%), Kyber Network (+11%), and Kava (+11%).

February 25, 2021 
 $1.86B traded across all markets today

#####################. Trading Volume by Asset. ##########################################

Trading Volume by Asset

The figures below break down the trading volume of the largest, mid-size, and smallest assets. Cryptos are in purple, fiats are in blue. For each asset, the chart contains the daily trading volume in USD, and the percentage of the total trading volume. The percentages for fiats and cryptos are treated separately, so that they both add up to 100%.

Figure 1: Largest trading assets: trading volume (measured in USD) and its percentage of the total trading volume (February 25 2021)

Figure 2: Mid-size trading assets: (measured in USD) (February 25 2021)

Figure 3: Smallest trading assets: (measured in USD) (February 25 2021)

#####################. Spread %. ##########################################

Spread %

Spread percentage is the width of the bid/ask spread divided by the bid/ask midpoint. The values are generated by taking the median spread percentage over each minute, then the average of the medians over the day.

Figure 4: Average spread % by pair (February 25 2021)


#########. Returns and Volume ############################################

Returns and Volume

Figure 5: Returns of the four highest volume pairs (February 25 2021)

Figure 6: Volume of the major currencies and an average line that fits the data to a sinusoidal curve to show the daily volume highs and lows (February 25 2021)

###########. Daily Returns. #################################################

Daily Returns %

Figure 7: Returns over USD and XBT. Relative volume and return size is indicated by the size of the font. (February 25 2021)

###########. Disclaimer #################################################

The values generated in this report are from public market data distributed from Kraken WebSockets api. The total volumes and returns are calculated over the reporting day using UTC time.


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