Where to store etherium?

Desktop vaults are usually used by users who spend a lot of time in front of their computers. At the same time, it is often more convenient for them to operate cryptocurrency investments exactly through a PC. This fact is due to the high resolution of desktop software interfaces.

Pros and cons of cryptocurrency software for desktop operating systems.

Examples of desktop cryptocurrency wallets for storing ether:

Browser wallets

This type is often referred to as web storage. From a technical point of view, these are software wallets. Such cryptocurrency products do not need to be downloaded and installed. They are available in popular browsers: desktop and mobile.

Web wallets are often custodial. Their clients cannot manage their private keys and mnemonic phrases. Because of this, custodial solutions do not allow secure storage of the etherium cryptocurrency. But there are also secure non-custodial web wallets available. One example is MyEtherWallet.

In the cryptocurrency community, web wallets are considered the least secure. This is because of the low reliability of browsers and the custodial nature of many of the vaults in the category in question. Also, attackers often steal cryptocurrencies from investors using phishing sites.

Pros and cons of browser-based digital vaults.

Examples of browser-based cryptocurrencies for ETH:

Paper wallets

Paper wallets do not store the coins themselves. They only involve recording cryptocurrency keys and numbers on sheets of paper. You can create a paper vault with the help of special services. They generate keys and addresses that need to be printed on sheets.

An example of a service for creating paper etherium wallets is MyEtherWallet. There are no other reliable platforms for 2023.

What are the best wallets to store ethereum in?

To save Ethereum, it is safer to use machines. Any such wallets are non-castodial. Also, hardware storages belong to the category of “cold”. It includes paper cryptocurrency wallets. “Cold” means that they do not connect to the internet. This feature increases the security level of Ethereum storage. It is very difficult for attackers to hack “cold” cryptocurrency wallets.

There are also “hot” storages. This category includes browser-based, mobile and desktop wallets. They are connected to the Internet. This is necessary for continuous interaction with supported blockchains.

Comparison of “cold” and “hot” cryptocurrencies.

Optimal non-custodial vaults for etherium

According to the editors, the top 3 best crypto wallets for ETH for 2023 are:

MetaMask

The cryptocurrency wallet was created in 2016. The developer of MetaMask is a company called ConsenSys. At first, the program was available only as a browser extension. Later, the application developers created mobile software compatible with popular OSes.

The idea of the cryptocurrency vault is to interact with dApps in the Etherium digital network. At first, only this blockchain was available in the software. Later, support for other virtual networks was added.

MetaMask allows you to work with 37 blockchains. The program supports tens of thousands of cryptocurrencies. Customers can add tokens inside the wallet.

Among the additional services available to MetaMask users are:

• Swap Exchange.
• A service for purchasing cryptoassets for fiat. It was created thanks to ConsenSys partners.

Pros and cons of MetaMask.

MyEtherWallet

This wallet was launched in 2015. It is developed by Taylor Monahan and Kosale Kemachandre. At first, the cryptocurrency wallet was browser-based only. But by 2022, the developers released a program for mobile OS.

The idea of the web wallet is to work with Ethereum. At the same time, it allows you to safely store ETH. Upon release, MyEtherWallet became one of the first wallets with support for ethereum. Because of this, the developers of the storage did not increase the functionality of the software at first. However, by 2022, the capabilities of the cryptocurrency wallet were expanded.

MyEtherWallet supports 3 networks – Ethereum, Polygon and BSC. At the same time, clients of the program can store all digital assets from these three blockchains.

The tools available to MyEtherWallet users include:

• Exchange.
• A service for using applications of the Etherium network.
• Option to buy crypto-assets for fiat currencies.
• Staking.

Pros and cons of MyEtherWallet.

Trust

The crypto vault was created in 2017. The main developer is programmer Viktor Radchenko. He was helped with the project by friends. The investor of the development was a fund from Binance. At the same time, the cryptocurrency exchange owns Trust Wallet in 2023. The vault is supported only by iOS and Android.

The idea of the software is to provide customers with a convenient service for storing digital assets with open source software code. The cryptocurrency wallet under consideration has competitors. However, Trust remains a unique program.

In the summer of 2022, the software supports 53 cryptocurrency networks. In total, users are available to store more than 160 thousand virtual assets. These include tokens of popular standards, such as ERC-20.

Trust clients have access to the following integrated services and investment tools:

• A browser to work with dApps.
• Binance’s DEX connection service.
• Staking.

Pros and cons of Trust.

Rating of custodial wallets for storing Ethereum

According to information from the editors, the safer software among the considered are:

Guarda

The cryptocurrency wallet was launched in 2017. It was created by enthusiast Paul Sokolov together with his team. At first, the software worked only on desktop operating systems. Later, they created versions for mobile platforms.

The idea of Guarda is to create an interface for interacting with ETH cryptocurrency. But by 2022, the number of features and supported digital assets is increased by developers.

Guarda users have access to 50 blockchains. In total, it supports more than 10 thousand cryptocurrencies. There is a function of adding tokens inside the software.

The following tools and services are integrated into Guarda:

• Staking.
• Cryptocurrency lending.
• Affiliate program.
• Purchase of digital currencies for fiat.
• Cryptoasset exchanger.
• Creating tokens.

Pros and cons of Guarda.

Enjin

This vault was launched in 2018. It was created by the leading specialists of Enjin Pte. Ltd. For the first time, the wallet became available on phones. But no other versions of the cryptocurrency program were released by 2022.

The idea of Enjin is to create simple mobile interfaces to work with NFT standardERC-1155 in the etherium network. At the same time, the functionality of the wallet increases. Developers release vault updates once every 4 months on average.

Cryptocurrency wallet clients can only be participants of the Ethereum chain. The program supports ERC-20 tokens, more than 100 coins and NFT. There is an option to add cryptoassets.

The developers have built such services into Enjin:

• NFT trading platform.
• Coin and token exchanger.
• A tool for monitoring cryptocurrency rates.

Pros and cons of Enjin.

imToken

The first version of the program was created in 2016. The developer of the crypto wallet is imToken Pte. Ltd. During the development stage, the company received investments from IDG Capital. The creators released the software only for mobile devices. There are no plans to develop versions of the storage for other platforms.

The goal of imToken developers is to provide users with a secure wallet for saving Ethereum and other cryptocurrencies. Therefore, the released updates concern only the reliability of the software and a part of important functions.

The program allows customers to work with ethereum. The vault supports NFT, ERC-20 and TRC-20 standard tokens (TRON network), 12 popular coins – BTC, ETH, LTC and others. The function of adding cryptocurrencies is also available to users.

ImToken has additional services:

• DEX TokenIon.
• Application Browser.
• A service for working with imKey hardware storage.

Pros and cons of imToken.

Guidelines for using online wallets

It is often difficult for beginners to use web wallets due to lack of experience. The instructions will simplify the process of mastering such crypto wallets.

Before using an online vault, you need to create an account in it. Algorithm of one of the registration methods on the example of MyEtherWallet web wallet:

1. Open the official website of the project.
2. Click Create A New Wallet on the main page.
3. Click Software.
4. Click Mnemonic Phrase.
5. Add an additional word (if necessary) and write a 12-word seed phrase.
6. Click I Wrote Them Down below.
7. Verify the seed phrase by selecting words with the suggested numbers.
8. Click on Verify.
9. Click on Access Wallet.

After wallet registration the welcome page of the service will open. Authorization will be available:

1. Click on Access My Wallet.
2. Click on Software.
3. Select the mnemonic authorization method.
4. Enter the words from the seed phrase and click Next.
5. Choose 1 of the 5 cryptocurrency addresses offered to store ether.
6. Specify a blockchain to work with, if needed.
7. Check the box To access my wallet, I accept Terms and click on Access My Wallet.

Once the algorithm is done, the authorization will complete. Then the initial interface of MyEtherWallet will open, where you can view information about the selected network, balance and some other data.

Ensuring the safety of savings

The reliability of investment storage is a characteristic with several determining factors. To increase the security of the investment or to keep it already high, you need to:

• Keep any virtual wallet data secret.
• Use the storage only on 1 device.
• Make multiple copies of information for authorization and cryptocurrency wallet recovery.
• Save account data on multiple devices with no internet connection.

Frequently Asked Questions