Ethereum Wallet – All about the virtual ETH wallet

An Ethereum Wallet is a kind of virtual wallet where you can store your ethers. Since Ethereum is not a real but a cryptocurrency, strictly speaking, it is not real. So you have to find a way to keep them safe on the Internet. Here is an ethereum wallet a safe and practical solution.

Is an Ethereum Wallet safe?

If one disregards the fact that nothing is 100 percent safe on the Internet, one can answer this question with yes. An Ethereum Wallet is even so sure that you as a user should be careful that you do not lose your access data. Because often it is not possible to make the Ethereum Wallet accessible again if one loses his access data. But more on that later.

Wallets are basically the best way to store cryptocurrencies. Although you usually get no interest, as with a normal bank account. But for that you have a protected virtual wallet in which the acquired assets are almost one hundred percent safe.

The Ethereum Wallet vs. Account

The Ethereum account is the simple way to keep the acquired ethers. In contrast to the Wallet, however, he is very inflexible, and above all much less sure. The account can actually store only Ether, is protected with a password and a transaction key and offers few further advantages. Above all, you can not receive ethers from other traders on it.

For miners, the account is very important, but only in conjunction with a virtual wallet. For who wants to trade, who definitely needs a wallet and can only do little with the account. This is also because you usually have to have at least one wallet to use Krypto exchanges.

The Ethereum Wallet vs. the ethereum address

In principle, an address is nothing but a kind of mailbox address for Ethereum. It is comparatively easy to create a link as an address. All you need is a service provider that provides the options. MyEther.Wallet, but also other providers have specialized in such services.

The address has the advantage that you can send anonymously to other users directly Ether. However, the address service uses little if you can not link it to a wallet. The most crypto exchanges do not accept an ethereum address as a shortcut.

The Ethereum Wallet vs. Token

A token is nothing but a kind of task that you put to the ethereum network. Tokens are very popular and belong to a category of virtual currencies. Accordingly, you have to distinguish between a wallet that can store tokens and a virtual wallet that is not capable of doing so with an ethereum wallet.