How to get an Ethereum wallet
Every day, more people decide to invest in cryptocurrency, and if you’ve decided to join them, you might not know where to start. Well, if you’ve decided to buy Ethereum, the first step you should take is to get a special Ethereum wallet. So if you don’t know how to make an Ethereum wallet and what it is, here you’ll find the answer to all your questions.
What is an Ethereum wallet?
Let’s first find out what is an Ethereum wallet. As you might have guessed, an Ethereum wallet, just like a regular one, serves to store your currency. However, in opposition to physical wallets, a crypto wallet is usually a program that keeps the keys that allow you to manage your coins. Usually, such a wallet has a key that indicates your wallet, which can be shared with others to transfer coins, and your private key, which you should keep secret because it allows you to control your Ethereum.
How to create an Ethereum wallet?
Know that we know the basics and understand how Ethereum wallets work, let’s go deeper into ways of creating such wallets. Many people struggle with finding out how to create an Ethereum wallet, but in fact, it is much easier than it seems at first glance.
What is essential to know is that there are three main types of Ethereum wallets and, therefore, three ways to get your Ethereum wallet.
First, you can create a web Ethereum wallet. Such a wallet will store your keys on the server, moderated by the admins, allowing you to access and manage your coins online. Such wallets are easy to create and manage. However, you should be careful with putting all your coins in such a wallet because you should be aware of possible hacker attacks.
Another way how to make an Ethereum wallet is to download a software wallet. This way is safer than the first one and, at the same time, is still convenient as it allows you to access your coins by using the device you choose. Software wallets are usually applications you can download quickly. Then, you will have to follow the instructions, which may differ for different software but always are pretty simple. When it comes to software Ethereum wallets, you may come across desktop and mobile ones. The difference in the level of convenience and safety, but in general, they work similarly.
The third type of an Ethereum wallet is a hardware one. This type of Ethereum wallet is the safest one because it eliminates the risks of cyber attacks. Such a wallet, however, should be purchased and, after that, installed by following the instructions of a manufacturer. Always buy Ethereum hardware wallets only directly from a manufacturer if you want to eliminate the risks of deception. Despite its main drawback – the price, such wallets are worth investing in because not only do they provide you with the highest security level, but they also have an option of recovering your wallet. Whereas, in the case of other wallets, you will not be able to recover them if they are hacked, or you have forgotten your password.
How to put money in the Ethereum wallet
Congratulations, now you know how to open an Ethereum wallet. Now, what’s your next step? You are probably wondering how to buy Ethereum, then. Unfortunately, wallets will not provide you with such an option, so you must take additional steps to purchase your coins. The best way to buy Ethereum is to use specific crypto exchanges. There are, for sure, many exchanges in your neighborhood. For example, if you are in Prague, one of the most popular ones is B2Cash. Such exchanges allow you to purchase Ethereum quickly and easily, usually offering an attractive price.