How to Create an Ethereum Wallet? Step-by-Step Guide

How to Create an Ethereum Wallet? Step-by-Step Guide

  • 14 November 2020
  • 598 View

How to create an Ethereum wallet is very simple and requires no skills. An Ethereum wallet is like an online bank account for the following purposes:

  • A place to store this cryptocurrency
  • sending and receiving coins
  • Managing and control Ethereum assets and all tokens based on Ethereum blockchain
  • Possibility to buy and sell Ether.

Ethereum wallets have different types; each of them has its characteristics. You must download the software wallet to the computer, so it is easier to manage coins and use it for free. However, this type of wallet is much less secure than hardware wallets.

A hardware wallet is a physical device that connects to other devices such as laptops and phones, and its security is much higher than previous methods. But you have to pay to get it.

In this article, we will teach you step by step how to create an Ethereum wallet.

How to make an Ethereum Wallet?

One of the wallets compatible with token sales is MyEtherWallet or MEW. This wallet is one of the best Ethereum wallets that are widely used. The following is the process of making a wallet related to the sale of tokens:

  1. First, go to www.myetherwallet.com.
  2. Next, you need to create a password and try to use a combination of letters, numbers, and symbols to create a strong password. Then click Create New Wallet.
  3. Download and save your Keystore main file, then save it to a safe location and click the Continue button.
  4. Save your private key and pay close attention to its security. Remember, there is no way to recover your forgotten or lost private key and password. Therefore, follow all the necessary safety precautions recommended by the wallet provider.
  5. Use a private key or Keystore file to unlock your wallet. There are many ways to unlock your wallet. But the best way is to select the downloaded file in the third step and enter the password in the second step.
  6. Now you have an Ethereum wallet that you can easily use to store your ethers.

To access your Ethereum wallet again, go to the site and click on the View Wallet Info option on the right. You will be sent an authentication code again, which you must enter to access your wallet.

How to make an Ethereum Wallet?

What are the cases in choosing a crypto wallet??

To choose Ethereum wallets, be sure to consider the following:

  • High security with 2-factor authentication (2FA)
  • backup and restore
  • Compatibility and support of smart contracts
  • Full control of your private keys and thus your digital assets
  • Continuous development and improvement by the development team
  • Strong and accessible support team
  • Easy to use and convenient user interface
  • Compatibility with various devices such as mobile and computer
  • Support for other digital currencies

What are the most famous and secure Ethereum wallets?

Now you know how to create an Ethereum wallet from MyEtherWallet. However, the official Ethereum wallet (Mist), Mist wallet as the official Ethereum wallet can be accessed through ethereum.org. Simultaneously with its installation, it is necessary to download all Ethereum blockchain and also synchronize with other network computers as the new network node. Mist wallet is not suitable for beginner users. For running the wallet program it is necessary to load all the data available on the Ethereum blockchain. It also requires special hardware.

What are other popular wallets?
  • In MyEtherWallet, creating a personal Ethereum wallet is relatively easy, especially since Ethereum officially launched it. This service makes it possible for the user to create a personal volt. The owner of the Ether wallet can store and maintain it wherever he wants. Also, at the required time, complete its transactions using Ethereum blockchain. It is possible to create an Ethereum wallet through the MyEtherWallet.com website. It is possible to buy and sell Ethereum through its wallet.
  • Hardware wallet (TREZOR), Trezor is a type of hardware wallet that was introduced in 2014. This wallet not only has high-security capabilities like a cold wallet but also acts as a hot wallet because of its convenience and ease of use. This wallet can store Bitcoin, Ethereum, and several other Altcoins in a completely secure form.
  • Mobile wallet (Coinomi), the most popular Ethereum mobile wallet is the Coinomi wallet. This Ethereum wallet holds private and public keys inside the device. It supports 18 different digital coins and 214 tokens. It is now available for Android and iOS operating systems. To download this wallet, you can refer to its official website.
  • Hardware wallets (Ledger Nano S and Ledger Nano X), these wallets are a type of hardware cold wallet that is the safest Ethereum wallet For Ethereum deposit security, the private key is registered in an offline form on wallet Ledger Nano S. This Ether wallet has an OLED display that allows you to control transactions and monitor the sales of Ethereum and other coins. It can also be connected and used on a laptop.

What are other popular wallets?

4 responses to “How to Create an Ethereum Wallet? Step-by-Step Guide”

  1. really informative. Thanks for this wonderful blog site

  2. Tiffani says:

    I have discovered excellent posts here. I like your blog post.

    So excellent!

  3. Herve Fodouop says:

    Good informations

  4. Yanga Jili says:

    Great info indeed

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