Before you start trading Ether tokens, you need a wallet to store them securely. An Ethereum wallets is a software which is used to store your Ether tokens. There are no Physical Ether tokens available. All your Ether records on a block chain owned by you can be stored using Ether wallets.
Usually, your wallets will be equipped with private and public keys. Keys are nothing but addresses formed using letters, numbers and alphabets. You always need to protect your private keys safely to stay away from hackers. Your public keys of wallet have to be shared to receive your Ether tokens.
There are different variants of wallets available to store Ether tokens. Some of the best Ethereum wallets for beginners are listed below:
Third-party wallets for Ether
You can open an Ethereum wallet with any cryptocurrency exchange to store and trade your Ether tokens easily. Though such wallets are comfortable and convenient to use, there are more chances of being hacked as the currency exchange will have the access to your private keys.
These wallets can be created online using cloud storage. They can be accessed from anywhere where there is an internet connection. It is considered as an easy source of the wallet but more prone to hacking.
MyEtherwallet is the official web wallet which can be created with the help of Ethereum network. Here you need to set up your online wallet by following the simple steps in the Ethereum website.
Once all your credentials and documents are verified your Ethereum wallet will be created with a set of private keys and public keys. You need to store your private keys online or off-line safely to access your Ether tokens in future.
Out of all the different types of wallets available for cryptocurrencies, Paper wallets are considered safest as they are not connected to the internet or your system. If you are familiar with coding and programming you can create your own paper wallet for Ethereum tokens.
This paper wallet can be taken with you anywhere or kept in a safe place. To create one easily for yourself, go to MyEtherWallet and download your keystore file and print them. Now you get your paper wallet with private keys, public keys and a QR code.
These are defined as light wallets as do not require you to download the entire blockchain file to create a wallet. Miners or nodes are relied upon for sending and receiving information about the Ethereum network.
Jaxx is one of the mobile wallets that can be used on the go in your Android and IOS devices. Jaxx wallet does not ask for any sort of personal information to set up the wallet. Jaxx is linked with ShapeShift where you can make EUR to ETH conversion and BTC to ETH conversion.
Desktop wallets can be easily set-up in your laptops and can be either full-node Ethereum wallets or light wallet. Different wallets like Exodus, Meta Mask and Mist are available for operating systems like Windows, Linux, MAC and Chrome. Exodus is a multi-currency wallet which supports trading of Ethereum, Bitcoin, Bitcoin Cash and Litecoin.
Also Read latest Ethereum Wallets Review by CoinSwitch – Best Ethereum Wallets in 2019