Ethereum wallet: how to buy and where to store currency

Today Ethereum occupies a leading position in the cryptocurrency market. This refers to its price and capitalization. He is second only to Bitcoin, the first cryptocurrency. Ethereum attracts interest from investors for quite some time. The reason is not only its price and total cost, but also its development prospects, both in relation to coins, and in relation to the practical application of the system.

For those who have just come into the field of cryptocurrency, a completely natural question may arise - how and where to store the ether? Now there are many opportunities. Wallets for storing one of the most popular cryptocurrencies come in various forms. They differ in security level, interface, degree of convenience, etc.

Types of wallets

There are many types of wallets. Most often, there are four main varieties:

• Online services;
• Official wallets created by cryptocurrency developers;
• Multicurrency wallets for PC and mobile devices;
• Wallets for the air, which are offered by exchanges.

Separately, there is another type of wallet - paper. This is a sheet of paper with keys printed on it. Storing your coins in this way is very dangerous, as information can easily be carried away.

The first type of wallets is available directly in the browser. These are sites that are a shell for managing your wallet. They have all the necessary functions for working with currency. They are easy to use, but their functionality is limited to basic functions.

Official wallets have the greatest functionality. They are created for use on computers. This is the most reliable way to organize Ethereum storage, but it will not work on a mobile device.

Wallets on which you can store any currency, implemented as separate applications. They can be used on different devices, they have a good set of functions.

Using the services provided by the exchanges is convenient because there is no need to switch between different wallets and services. Here you can store different cryptocurrencies and access them directly from the trading platform.

Popular Wallets

Mist

Ethereum developers could not ignore this area. They developed a product that is now used by users as a wallet for the ether by default. In addition to the huge number of different projects, the company has created Mist. This is not exactly a wallet, but rather an ETH browser that allows you to work with smart contracts. It has a simple look and a good set of features. At this stage, to talk about its full performance is not worth it, because the project is under development.

To use Mist, you need to install it on your computer. The client needs full synchronization of the blockchain, which takes some time. Additionally, the user will need some programming skills. The official version of this wallet is available at the office. Ethereum site.

The final release of the app will be named Metropolis. Although there is still a lot of time before the release, the wallet can be used now. It is integrated with the ShapeShift pad. This option allows you to quickly convert the ether into Bitcoin and back.

The lack of a wallet is a complex functionality and the lack of a version for smartphones and tablets.

My ether wallet

If you do not want to download the blockchain and put the program on your computer, you can use the My Ether Wallet online service. It is a multi-currency platform running on Java.

Instructions for installing, depositing and withdrawing funds in MyEtherWallet

1. First of all, create a wallet. We go to the site MyEtherWallet.com, immediately for convenience, choose the language and come up with a "hard and strong password" for our future wallet.

2. The next step is to save the file with the key that you need to access the wallet. Then move on by clicking "I understand. Continue". Take it seriously! With the loss of the key file, you actually lose access to your wallet!

3. Then you will be asked to save Privat Key, which will allow you to log in to your wallet. Save it in any safe place, it is best to even record it - do not be lazy. :)

4. The wallet is almost created! The last step is address generation. Personally, we chose to provide access by private key. MyEtherWallet itself does not recommend this method due to the numerous phishing sites, but we do not insist on the opposite. You can familiarize yourself with the other ways and choose the one that is most preferable to you.

5. In order to receive and send currency, go to the tab "Transfer ether (ether) and tokens". In the next window, enter the necessary data: the address of the recipient and the amount. By the way, for carrying out transactions it is necessary to have a "gas", a certain analogue of payment commissions.

This is how the transaction window should look like:

Developers initially position their site not as a repository, but only as a way of organizing work with their currency. The user does not upload coins to the service and does not store them here. The site only allows you to manage them through a browser.

Ethereum wallet

This project has many similarities with the previous wallet. This applies to working in Java and collecting information exclusively on the client side. The user can quickly and easily create an eth wallet right in his browser and work with it.

At the moment, the development of Ethereum Wallet is questionable. It was suspended at the beta stage. Nevertheless, the wallet is still functioning. Just in case, it is better to refrain from operations with large amounts.

Jaxx

The wallet was created by the team that worked on the Ethereum Wallet. Initially, the developers added only Bitcoin support, but later ETH and DAO also appeared. In the future, they expect to add Dash to this list. At the moment, the wallet is considered the most user-friendly and easy to use.

The application is available for both stationary PC and mobile devices. This is his biggest advantage. There are versions for Android and iOS. Additionally, there are browser extensions for Chrome and FireFox.

Jaxx now supports the ability to import paper wallets. It is also integrated with ShapeShift. The program works with smart contracts and HD-addresses.

In the future, the team expects to release a hardware wallet so that it would be a unique solution.

We highly recommend working with this multi-currency wallet. In almost 9 months of working with Jaxx, there was not a single hitch. It is installed very simply, as well as using it. It is also one of the few wallets that has never been exposed to hacker attacks. Nevertheless, in terms of security, Jaxx is still inferior to Bitcoin Core, cold storage and hardware wallets, so we recommend storing large amounts in more secure places.

Instructions for depositing and withdrawing funds in Jaxx

1. The first thing we need is to download the wallet from the official site. Personally, we work with the desktop version, but you can install it under your OS, the program works everywhere in the same way.

2. Launch the downloaded file and create a new wallet by clicking "Create new wallet". After creating the wallet, a list of coins that you want to activate in your wallet will appear. We are interested in Ethereum, so we choose it. The rest can be added at any time. That's what you should end up with:

3. Basic operations: receiving and transferring funds. To replenish your wallet, just copy the automatically generated address and bill someone. More about this in the section, how to buy Ether.

To transfer funds, click on the Send tab and in the "Enter Receiving Address" line the desired address to the purse where we send the funds, and in the "Enter Amount" line enter the required amount of transfer. Then, with peace of mind, press "Send", confirm the operation, after which it will appear in your Transaction History.

4. By clicking on one of the transactions, you can see detailed information about it, including follow the transaction in the blockchain.

5. But that is not all. Jaxx has built-in ShapeShift technology that allows you to exchange one digital asset for another. For example, you have some amount of Bitcoins and you want to exchange them for Ethereum. No problem! Click on the "Exchange" tab and select the desired amount of Bitcoin. Pay attention to the course and the minimum and maximum amount you can send.

Geth

In fact, this is a regular console, which provides the ability to send, receive and create contracts in Ethereum. Wallet can run on Windows, Mac and Linux. It is very popular among programmers, but not among ordinary users, because they want more convenience and comfort in use.

Safety and precautions

The main responsibility for the safety of their funds lies with the user. To ensure the greatest security, use all the verification tools of your account and make backups on time.

Many exchanges and wallets offer different ways to verify - mail, password, two-factor authentication, etc.

Your firewall and anti-virus programs should always be ready to work and have up-to-date databases. Regularly update them and monitor the processes on your computer and other devices.

If you store a large amount of eth exchange you will not do. It is better to choose purses for PC or reliable online services. In this case, you will ensure maximum safety of your funds.

Where to buy and sell Ether?

The most reliable ways to buy and sell Ethereum are exchangers and cryptocurrency exchanges. On exchanges, the cost varies in real time, so you can make a purchase and sale when the price proves to be the most favorable for you.

With exchangers, the situation is somewhat different. Prices for them, as a rule, are set by the administration itself on the basis of general market indicators. Conditions for buying and selling are not always beneficial for users. However, this problem can be solved by monitoring several exchange sites for the best conditions of the transaction. In this regard, the exchangers have wide functionality. They can be configured to issue information on the currencies and rates that interest you.

Conclusion

In the end, it is you who decide which wallets you will use to store your currency. Ease of use and safety should be your main selection criteria. Your funds must be under reliable protection, and their management should not cause you any difficulties.