May 18, 2022

Ethereum wallet: how to choose and create a convenient tool for storing ether

The more actively the Ethereum cryptocurrency is gaining popularity, the more questions users have about how to choose and create the most convenient wallet for their virtual coins. To solve all the complex issues, we offer a simple guide to creating an electronic wallet for storing ether, as well as instructions for replenishing your own wallet and transferring to the accounts of other users.

Ethereum Wallet Features

Just a year ago, for a novelty on the ethereum cryptocurrency market, it was a problem to find a wallet to store it. The developers offered only a few types of wallets, which were not so clear in management. But with the promising growth of the system, it is worth noting that this electronic currency has rightfully won second place after bitcoin, and many other ether wallets have appeared that can not only store savings, but also exchange them, as well as carry out settlement transactions with other users.

Among the important features of Ethereum are:
openness and ease of use;
work is carried out on any device - PC, smartphone, online;
the system is reliably protected from hacker intervention;
the prospects of the project with a rapidly growing demand.

Types of Ethereum Wallets

For ease of working with digital currency, there are two main types of wallets:

To work with them, you need to download the installation file to your computer, download the program, which, by the way, will take about 2 gigabytes of memory, and continue using it if you have an Internet connection. A distinctive feature of such wallets is increased reliability. However, along with complete security, we get a lot of problems in the process of using cryptocurrency. After all, it will be impossible to enter the wallet from another device.

Online wallets
The most common way to work with etherium. All you need is to register a wallet directly on the site offering online services for storing ether, which guarantees the ability to get the right to access your electronic money from any device convenient for you in real time. A feature of such wallets is their multicurrency, which allows you to work with several cryptocurrencies at the same time.

Creating a wallet

To create a wallet, you first need to decide on the location of its placement (on your own computer or on the network), and then choose the most suitable one for us. During its activation, the system will require the user to enter personal data, after which a wallet number will be generated, with which you can carry out income / expenditure transactions.

Advantages and disadvantages of Ethereum wallets

Due to the growing popularity of Ethereum as a means of storing and receiving money, the issue of creating a wallet becomes relevant. That is why it is worth considering all the advantages and disadvantages of such electronic storages, depending on their type.

the advantage is their increased reliability and official sources for downloading software;
the disadvantages are their volume (it will take a lot of space to install the program), the long process of downloading the application, access to the wallet is possible only from one device, the need to constantly save backups.

advantages - speed and convenience of working with wallets, the ability to access from any device, a convenient interface, the ability to work with several cryptocurrencies at the same time;
the disadvantages are lower reliability, due to the weak protection of personal data.