How to Get an Ethereum Digital Wallet
I have always said that anyone who does wish to start using a cryptocurrency is going to have to go on a very sharp learning curve, for there are lot of different aspects of using a digital currency that you do have to try and get your head around!
However, the very first thing you are going to have to get for yourself to be able to have somewhere to have any digital currencies sent to you stored is a digital wallet.
Therefore in today news story I am going to be showing you just how easy it will be to get a digital currency wallet, and if you are thinking of using Ethereum as your chosen cryptocurrency of choice then please do read on for a full step by step guide in regards to how you can get yourself a digital wallet in a matter of minutes.
One question you may have if you have never used Ethereum before is whether you are going to have to pay anything to get a digital wallet. Well I am happy to let you know that you are not going to have to pay anything at all as they are completely free to download, and as such you can get one with no initial financial outlay.
Security is of course an important aspect of using and buying and selling and even investing in any cryptocurrencies including Ethereum, so never take your security and the safety of your cryptocurrencies for granted!
Downloading the My Ether Wallet
One of the most popular and most readily available digital wallets you can download for free is the one available from the MyEtherWallet.com website.
Once you have landed on their website you then simply have to enter a password, it is vitally important that you pick a very strong password. That password is going to then encrypt and therefore protect your Private Key.
Once you have chosen a highly secure password and one that you can remember then you simply need to click onto the “Create New Wallet” button and by doing so you will download the keystore UTC file.
You are strongly advised to download that onto a USB device as that way you can store it offline and it will never be at risk from hackers.
That file is the encrypted version of your Private Key and as such you are going to have to use the password you set up to be able to access it.
Once that is done the website will then give you full step by step guide in regards to the My Ether Wallet which you are advised to read through to ensure you understand all there is to know about it.
You can then print off your paper wallet back up and you should also write your Private Key down somewhere safe and ideally not on a notepad or word file stored on your computer.
By following the instructions on their website you are then always going to have access to your digital wallet and can then use it to either send or receiving Ethereum at any time of your own choosing by using your unique digital wallet digital address.
Other Digital Wallets
There are of course a wide range of different digital wallets that you are going to be able to make use of, however be aware that some of them may only be compatible with one single type of digital currency.
However, having said that some of them have been designed in such a way that you are always going to be able to store a range of different cryptocurrencies on them, and as such you should make a point of downloading and then using one that is best suited to your own needs.
Some digital wallets are directly linked up to a digital currency exchange, and as such when you download one of those digital wallet you are going to be able to buy your chosen cryptocurrency directly from the digital wallet.
As mentioned up above you need to ensue the complete security of your digital wallets at all time, for if they are every compromised then you do risk losing any digital currencies that you have held in them and will be unable to get them back.
Do also make sure that you pick and choose just which digital currencies, tokens and coins that you invest in or make use of for there are not thousands of them available all of which will be offering you something unique!