There are so many options when it comes to wallets. Ethereum wallet is typically the easiest one to use, but we’ll be covering a variety of wallets.
With online wallets, you have many options here. The primary reason for using an online wallet is for convenience. Imagine being able to access your Ethereum from your phone and sending it to your friends. You don’t have to imagine it, because it’s already here. With the ease of use and security a web wallet provides you, it is not surprise the majority of users are using some form of an online wallet. Ethereum-wallet.net is a good online wallet we recommend.
Beyond convenience, online wallets also give you a ton of security. The reason being that funds are highly secured in cold storage. Cold storage is the safest way to store coins, and involves putting all the data into a device that isn’t connected to anything. Consider your desktop computer. If you place a wallet on your computer, a malicious piece of software you download could take all your funds without you knowing! Most people don’t have a designated computer just for storing their Ethereum. That would be ridiculously expensive. Meaning, the best way to store your coins is on a reliable wallet listed above.
Desktop wallets generally provide fancier features. If you’re a programmer and want to develop applications for Ethereum, this is the way to go. Keep in mind though, that it’ll take about 40 GB of space on your hard drive, growing at about 2 GB per month as the blockchain size increases. For the average user, it isn’t worth downloading so much data. For decentralized application developers though, it is a necessity.
While scarce, there are resources to learn about DApp development. We recommend reading this post if you’re a developer. You simply build a front end in HTML, and a backend for handling logic. With a general knowledge of C++ programming, you’ll be able to begin writing decentralized apps. Software development is a great industry, and you can improve your skills by writing apps.
There’s a reason we reviewed this last. It’s the worst option for storing Ether. Have you ever lost your phone, or know someone who has? Even if you have never lost it, an accidental drop can lead to you losing all of the Ethereum on your phone. That being said, phone wallets can work – just not for most people.
Considering 47% of Americans’ phones were hacked last year, I wouldn’t touch this option. Think about how little security you have on your phone. All someone needs is a USB cable and they have instant access to all of your phone’s data. They don’t even need your fingerprint or pattern code, simply because that security option is only meant for general-use.
Online wallets are the best option for the average user as they mix security and convenience into one platform. Desktop wallets are a necessity for developers who wish to create applications, though it’ll cost you a lot of bandwidth and hard drive space. Phone wallets shouldn’t even be used if you value your Ether. They’re lost, hacked, and dropped all the time.
With that said, there’s more to ETH than just wallets. We’ll be reviewing more Jackpotcoin and Ethereum applications soon.