What is Ethereum?
Ethereum is a platform that revolutionized the blockchain system. Its algorithm works in a way that allows not only processing given code but also creating new operations. That’s how Ethereum makes it possible to make decentralised applications (dApps) using its platform. So, Ethereum is much more than a simple currency, it’s a tool. For the people who are interested in ETH solely for investment purposes though, we have prepared this Ethereum wallets review. Hopefully, it will help you to find the best Ethereum wallet for managing your funds.
To understand what Parity is we must know about smart contracts, the technology that has dApps running. To put it simply, smart contracts are pieces of code that are executed when certain requirements are met. They are used to facilitate any kind of financial transaction as there is no way to interfere with a program that is run on the blockchain. Due to the existence of this smart contract feature, most of the Ethereum wallets have a dApps browser implemented as that is what the blockchain is mainly used for. Parity Ethereum wallet is one of such wallets. It is a desktop-based wallet that supports ETH, ETH-20 tokens and, obviously, a dApp browser. The company is focused on security and new dApp development so their wallet might not suit you for more mundane needs. You can check if the features of Parity are something you are looking for on the website.
Ledger Ethereum Wallet
Ledger wallet for Ethereum is one of the most secure tools to keep the funds so it is almost necessary for big traders. With Ledger, cryptocurrencies are stored on a device that works offline. Ledger Nano S contains two-factor authentication, PIN code protection and code words for recovery. Ledger Nano S is integrated with MyEtherWallet, so it allows you to send, receive and store tokens without having to create new Ethereum wallet. It is compatible with Windows, MacOS and Linux. You may choose your own Ledger Ethereum wallet here.
Guarda is a wallet that provides the widest array of the platform and operating system choices. It works on Windows, MacOS, and Linux, there is a web version and it is available on mobile (for both iOS and Android). Guarda is a cold-storage wallet that has no access to customers’ private keys. They are stored in your device memory. Top that with the instant exchange feature and the option to purchase ETH with a USD card, and you will get a wallet that is perfect for everyday needs. Check it out here.
Mist is the official Ethereum desktop wallet designed to securely store ETH and all of the ERC-20 tokens. It is easy to download, install and configure, as it does not require special technical knowledge. If you have ever thought about downloading ETH wallet and couldn’t make a choice consider this option. Mist was created by the ETH developers themselves and meant to provide the best experience with the coin. Be mindful that the first installation might take a while because with Mist, to create Ethereum wallet it is required to download the whole blockchain. Learn more with the documentation on the official repository.
If availability is all you want from Ethereum wallets then MyEtherWallet is the best solution. This is the most popular Ethereum web wallet and it allows you to log in to any device just with a login and password. As mentioned above it supports integration with Ethereum hard wallets. Other notable features include smart contracts support, an instant exchange between ETH and DTC, backup of Ethereum private keys on a personal computer, which provides greater security compared to similar wallets. To join the club of MyEtherWallet fans check out the info on their website
Paper Ethereum Wallet
Paper wallets don’t lose their popularity among Ethereum community. The main feature of such a wallet is that it provides cold cryptocurrency storage. A paper wallet does not have access to the network, which means that no one can steal your money on the Internet. At the same time, the generated public Ethereum wallet address is listed in the Ethereum system so you can receive transactions from other people. A paper wallet is a perfect choice for miners or traders who store a significant number of coins without accessing them much. One of the more trusted services to create a paper wallet is MyEtherWallet paper wallet page. Investigate further with the help of this page.
MetaMask is another popular wallet among Ethereum community. It provides quick access to the Ethereum network as an extension that is available on Google Chrome, Mozilla Firefox, Opera and Brave. MetaMask allows you to store, receive and send ETH. One of the main advantages of the wallet is a special passwords encryption and an option to store keys on a user’s computer. If necessary, they can be exported. For an advanced user, the wallet will seem intuitive but for beginners, it will take time to figure out how this Ethereum wallet works. However, there is not a lot of alternative options if you like to be able to access your funds from the browser. If MetaMask is the option just for you go to its website.