Ethereum cryptocurrency is the second-largest asset after Bitcoin in terms of capitalization. Sure, it is very popular and actively used by investors all over the world. This widespread adoption caused the emergence of many different tools to manage this coin.
This article is about Ethereum wallet, price monitoring, and exchange services. Once you familiarize yourself with it, you will have a grasp of how to manage your ETH properly.
How to choose an Ethrereum wallet?
Ethereum is a very popular cryptocurrency, so there are many wallets suitable to store ETH on the market. Let’s figure out how to keep this coin safe and which wallet is the best.
To determine the proper Ethereum wallet, ask yourself the following questions:
- Do you need support for currencies other than ETH?
- How often are you going to make transactions?
- Do you need to access your wallet from different devices or is it ok to use it from one place?
To find a suitable Ethereum wallet, you should have a grasp of the principles of blockchain operation and cryptocurrency storage. There are four types of wallets. Each of them has advantages and disadvantages. Also, each of them is suitable for certain tasks, so let’s take a closer look at them.
Hardware. It is a USB device that stores private keys in encrypted form and is considered the safest. Although it is not suitable for frequent transactions, rather for long-term storage and rare portfolio adjustments.
Desktop/mobile. In fact, it is an application downloaded and installed on your computer or smartphone. Access is possible through the device the software is installed at only. This option is less secure than the previous one, although much more convenient in daily use.
Online (web wallet). It can be both a website and a crypto exchange. Access is possible from any device linked to the Internet. This is the most suitable and simple wallet. Still, it is insecure because it implies keeping private keys on a remote server, susceptible to hacker attacks.
Paper. In fact, it’s just a piece of paper with your private key. In terms of cybersecurity, this is the safest storage option. Although it is not suitable for frequent transactions, rather for long-term storage. It has one important vulnerability: if you lose the paper with the key or damage it, you lose access to your money as well.
Price chart and converter
Don’t be surprised that we have combined these two tools into one paragraph. Modern services are aimed to greatly simplify the life of users. One such platform is Godex.io.
You will see BTC to ETH calculator on the main page of the site. It will help you convert cryptocurrencies. This is a very convenient and extremely simple service even complete beginners can easily figure out.
Once you select the required cryptocurrency pair and indicate the required exchange amount, the platform algorithms will immediately select the most profitable rate for you. Godex monitors rates on all popular cryptocurrency exchanges and provides the best conditions. The data is updated in real-time. If you want to follow the Ethereum price chart and convert profitably, the Godex platform is what you need.
Ethereum is the second most popular coin on the market. It has huge potential for future growth. The market is full of tools that make the life of crypto investors and traders much easier.