Types of Ethereum Wallets
Are you interested in investing in Ethereum? You’ll need an Ethereum wallet in which to store your cryptocurrency. There are different types of Ethereum wallets available. Some of the most popular types include:
Rare Usage Ethereum Wallets
These are a good option if you’re interested in purchasing and holding Ethereum for the long term with little or no transactions. Bitcoin Core and Paper Wallets are good examples. These wallets are in many cases offline and may be stored on a full node on your PC, a USB device or a paper. Transactions can be carried out offline. These wallets are therefore secure from hacking or other forms of online theft.
Frequent Usage Ethereum Wallets
If you’re interested in trading your Ethereum and will be carrying out frequent transactions, you may want a Hot Wallet. These wallets are online and therefore require stable internet connections. The funds are stored on secure servers in order to allow for quick trading.
Hardware Ethereum Wallets
These are wallets that are stored on a USB device. They are secured by the investor’s private key and a pin code. You would need a computer and your wallet in order to carry out a transaction. If you ever lose the USB device, you can restore access to your wallet by the seed you will be provided with.
Light Ethereum Wallets
These provide balance between functionality and security. These are desktop wallets with private keys.
These are the most popular types of wallets. They are very convenient, especially for small transactions.