How cool is it to shop without having to carry your wallets and credit cards? No worries about taking care of the wallet and just paying using your e-wallet after all the purchases! Most of you already have a digital account and now is the right time to vet one.
What about an Ethereum wallet? Yeah, you read it right, Ethereum, one of the most sought-after cryptocurrencies now has an Ethereum wallet. Curious to learn more? Here we go into the deets.
Ethereum Wallet: Do you have one?
You do have a digital wallet, most probably. It is like any other wallet that you use to store money, with a slight change; in a digital wallet, you store money digitally in a wallet that is intangible.
Some of the popular examples of digital wallets are Apple Pay, Google Pay, Paytm, and so on. In that case, what is an ethereum wallet? Do you have the answer?
Here we introduce you to the concept of the Ethereum wallet and help you discover the different types of ETH wallets and by the end of this article, you can choose the best ETH wallet for you. You can also learn how to create an Ethereum wallet. Get started right away.
What is an Ethereum wallet?
An Ethereum wallet is an application that allows users to interact with their Ethereum accounts. You get complete control over your account with an ETH wallet.
Think of a traditional physical wallet that you carry and think of the contents it may have. It will always have your money and your proof of ID, right? Well, the Ethereum wallet is exactly that, except that it is intangible.
Using an Ethereum wallet, you can carry your assets and the proof of identity that you may be required to submit at times, and you have the whole and sole control over your wallet.
You can sign in to various apps, conduct transactions, check your balance, and for identity verification.
So, What is an Ethereum Wallet Used For?
- To handle your digital assets
- For your identity verification purposes
Which is the Best Ethereum Wallet?
Here we have a list of the best Ethereum wallets.
- Swissmoney
- Ledger Nano X
- MetaMask
- Trust Wallet
- Exodus
- Trezor Wallet
- Guarda Wallet
- Myetherwallet (MEW)
Types of Ethereum Wallets
There are different types of Ethereum wallets. Let us look at a few examples:
- Mobile wallets
- Web interfaces
- Desktop wallets
- Paper wallets
- Browser Extensions
- Hardware wallets
How to get an Ethereum wallet?
You can easily set up an Ethereum wallet for yourself. Make sure that you have done your research and have decided on the type of ETH wallet that you wanna own and the Ethereum wallet app that you want. Get help from your crypto veterans friends and you can also get information from the top crypto influencers.
As you already know there are different types of Ethereum wallets, so it is crucial that you know which is the right one for you. Try getting details about each of these and also identify your requirements.
After thoroughly analyzing what you are looking for in an Ethereum wallet you can choose the right one for you. Here are the steps to create an Ethereum wallet.
How to create an ETH wallet?
- Download the wallet app
- Set a strong password
- Create your new wallet
- Generate the secret phrase
- Go through the safety notice
- Finish the secret phrase
- Check secret phrase
How to create an Ethereum account?
Here are the steps that you can go through to create an Ethereum account:
- Choose the type of wallet
- Choose the wallet you want to own
- Download, and install the app on your device
- Set up the app by creating your ETH account
- Store your seed phrase
You don’t need to have an Ethereum account before proceeding to create an Ethereum wallet. The majority of the wallet apps let you create an Ethereum account even if you do not have one.
Closing Thoughts
What do you think about a wallet for Ethereum? We hope you were able to find everything that you were looking for about the Ethereum wallets in this article.
If you know what a wallet is and if you have used one, which you most probably have, you do not need to know anything special to start using the Ethereum wallet.
