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Author Topic: Safe Wallet for Ethereum ?  (Read 177 times)
sam-j (OP)
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December 11, 2017, 05:07:12 PM
 #1

I'm going to invest some money on Ethereum so I downloaded Parity wallet (Which looked a good SPV wallet to me) and I came to some News about Parity wallet got hacked and there are frozen balances.

is it safe to use Parity ?
So what wallet shall I Use for a safe investing ? as far as I got there isn't any real SPV wallet for ETH like Electrum for bitcoin there are many online wallets but I don't really trust them I just want a wallet which let me the full control of my coin (and don't share my private keys with anyone) like electrum for BTC and keep them safe for a long time for investing.

and I can not afford to download the whole blockchain and setup a full node.

What a but a hardware wallet like ledger ? I haven't had any experience with hardware wallets so far. how do they work ? do they need a full node consisting whole blockchain ? Do they share private keys with ledger company ?

Igor17Krik
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December 11, 2017, 05:24:18 PM
 #2

MyEtherWallet a very safe wallet. The main thing is not to scatter their private keys and all will be well. Many holding this purse very large sums.

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CryptoBuds
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December 11, 2017, 05:33:04 PM
 #3

The main thing when you say the word "safe" is only about the way of storing your private keys. I believe that the best way to store ETH is to use Ledger Nano S + MyEtherWallet.com.

BitandAlt
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December 11, 2017, 05:38:03 PM
 #4

Use MEW for safety, speed and user friendliness. Most people i know use it and they are satisfied with the results.

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mariored89
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December 11, 2017, 05:38:27 PM
 #5

In this world the best way to protect your money is your behavior: as soon as you have a private key you are the only responsable of its use (abuse).
Sundark
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December 11, 2017, 05:41:46 PM
 #6

Good topic. Thanks for ideas, guys Smiley
iblistenan
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December 11, 2017, 05:42:19 PM
 #7

myetherwallet and metamask extention, and youll be fine. The imortant thing is never put your privatekey  elsewhere.
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December 11, 2017, 05:47:08 PM
 #8

I'm going to invest some money on Ethereum so I downloaded Parity wallet (Which looked a good SPV wallet to me) and I came to some News about Parity wallet got hacked and there are frozen balances.

is it safe to use Parity ?
So what wallet shall I Use for a safe investing ? as far as I got there isn't any real SPV wallet for ETH like Electrum for bitcoin there are many online wallets but I don't really trust them I just want a wallet which let me the full control of my coin (and don't share my private keys with anyone) like electrum for BTC and keep them safe for a long time for investing.

and I can not afford to download the whole blockchain and setup a full node.

What a but a hardware wallet like ledger ? I haven't had any experience with hardware wallets so far. how do they work ? do they need a full node consisting whole blockchain ? Do they share private keys with ledger company ?



I've been using MyEtherWallet (MEW) for a while now and it has always worked beyond my expectations. It allows you to not only control your Ethereum in a user-friendly & secure way, but you can also manage all your tokens through it.

If you use it well, you won't need a hardware wallet. Although hardware wallets offer the ultimate security, they cost money and aren't as easy to handle as Web-Wallets like MEW, in my opinion.

The security of it mostly depends on your behaviour though, as it's entirely your fault if you download from sources you shouldn't trust and get yourselves some viruses on your computer, taking over all of your cryptocurrencies.
Save your private key on a paper, with a little encryption. You could try making a little sentence of it for example, so a random person finding it won't be able to steal your funds. (No one who doesn't know that it's an encryption of a private key would think of "3 Bodies and 6 blood, 136 dollars and 43 cents" as 3B6b136da43c, your private key... Try something more difficult of course, just to make sure your wallet doesn't get stolen, but don't forget the way you encrypted it, as you'll lose access to your wallet otherwise.

Or just be like me, memorize your private key Tongue

In Short: Just use MEW, don't download viruses & find a secure way to save your private key.

Wipro
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December 11, 2017, 05:50:16 PM
 #9

In this world the best way to protect your money is your behavior: as soon as you have a private key you are the only responsable of its use (abuse).

So you can go with the myetherwallet bro. You can access your wallet with the private key saved and you will get the seed also when the time you create a wallet in the myetherwallet. You will find the jaxx and myether does not ask the username in the time you log in the both the site's web page.
If you are expecting more safety than this you will find the ledger Nano or trezor hardware wallet to keep your ethereum much safer.
almiani
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December 11, 2017, 05:52:29 PM
 #10

I think myetherwallet is the right choice and safe. always bookmark and pay attention to the domain you use. because there are so many scam sites out there that resemble myetherwallet. I always use keystone / UTC file.

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