How to store Ethereum safe? - page 2.

Woodie

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Quote from: Avangard86 on April 16, 2021, 10:36:24 AM

Hi, what is the best way to store Ethereum safe and what wallet should be used?

When you talk of safety of your coins, you want to consider having access to the private key which is considered as the master key to override any application passwords.

MeW like @Findingnemo said is a good start but several wallets today give you that access to your keys like a dex for example idex,forkdelta (**not a wallet but they do generate them**) and many others. Generally just find a wallet that will give you access to your private keys.

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What is more secure to store all Eth in one single wallet or use more wallets? Thanks.

My rule of thumb, always spread your risk...you don't want to find yourself in a situation where you lose access to your wallet and you lose all your assets like killing two birds with one stone! My answer to this would be use several wallets!

The Cryptovator

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It doesn't matter you store your ETH on a single wallet or on multiple wallets. The matter is how you secure your wallet private keys. Just don't store your coins in any exchange or web wallet for a long time period. The best and secure solution is using a hardware wallet if you can afford it. If not then you may choose a wallet like MEW where you are only the controller of your private keys. But any web wallet is quite risky especially phishing attempts. So just be careful before choosing a wallet. But I strongly recommend for hardware wallet where you can secure your ETH and other coins as well.

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Quote from: Avangard86 on April 16, 2021, 10:36:24 AM

Hi, what is the best way to store Ethereum safe and what wallet should be used? What is more secure to store all Eth in one single wallet or use more wallets? Thanks.

of course, all will advise you to store your ETH in a hardware wallet so that it is very safe....but do you really intend to buy it or not? ^{(if you have thousands of ETH then HW is only your choice but if it's only a little ETH, i think a Software wallet is still a good choice)}

if indeed you don't intend to buy it then saving your ETH in MEW can still be a good alternative. of course, you have to store your private key wallet in a very safe place like a personal safe.

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As suggested above, a hardware wallet which supports ethereum is one of the safest ways to store your ETH.

Quote from: Avangard86 on April 16, 2021, 10:36:24 AM

What is more secure to store all Eth in one single wallet or use more wallets?

This depends on how much eth you own, some holders of cryptocurrency tends to use more than one wallet, one from which they can send out transactions regularly; a hot wallet and one which is used for cold storage. For very high amounts, you can use different wallets for cold storage, you can however use the same software or hardware.

Findingnemo

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MEW, is one of the most widely used ethereum wallet and its safer too but you need to keep your private keys safer and its suitable wallet to hold ethereum worth of few hundred to thousand dollars.

If you are looking for the highest security and having huge amount of ethereum then I will suggest you to go for a HW wallet like Ledger Nano X.

Avangard86

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Hi, what is the best way to store Ethereum safe and what wallet should be used? What is more secure to store all Eth in one single wallet or use more wallets? Thanks.

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