Now that we have an idea about the currency units, we will discuss Ethereum wallets. A wallet is essentially designed to hold ether and other cryptocurrencies. When choosing the right Ethereum Wallet for you, there are some features to look out for; security, smart contract support, ability to keep private keys, how easy it is to use, and which cryptocurrencies are accepted. Some examples of wallets for Ethereum are uphold Digital Money Platform, Ledger Nano S Wallet, Atomic Wallet, TREZOR One Wallet, KeepKey Wallet, Coinbase Wallet, MyEtherWallet, MetaMask Wallet, Ethereum Wallet, Exodus Wallet, Jaxx Wallet, Coinomi and ethaddress Wallet. (Falk, 2018)

MetaMask

In the following section we will focus on MetaMask. MetaMask is a cryptocurrency wallet and a browser extension compatible with Chrome, Firefox and Brave. We use MetaMask as a bridge between internet browsers and Ethereum and stores keys for Ether.

There are several of advantages of choosing MetaMask over other alternatives.

1. Easy to use
2. Open source
3. Hierarchical deterministic settings are used for backup purposes
4. Customer support
5. Stores local key
6. Easy to buy Ether via MetaMask

(King, 2018)

How do you install MetaMask?

1. Open one of the compatible browsers; Chrome, Firefox or Brave
2. Open the MetaMask page
3. Click on the icon
4. Choose Create New Vault
5. Set a password
6. Write down the list of 12 seed phrases which appear on screen.
7. Click on I’ve copied it somewhere safe

(King, 2018)

References

Falk, T. (2018, December 18). Best Ethereum wallets. Retrieved from Finder: https://www.finder.com/best-ethereum-wallets

King, R. (2018, August 21). MetaMask Wallet Review. Retrieved from Bit Degree: https://www.bitdegree.org/tutorials/metamask/#What_isMetaMask