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Author Topic: Ethereum cold-wallet, recommendation  (Read 155 times)
clover12
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June 17, 2018, 08:03:19 PM
 #1

Newbie here!  What is a cold wallet for Ethereum?  Besides sitting in my wallet at exchanges, where can I put it for cold storage?  Also, if it is complex, I may need some directions how to set up the account...
 
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June 17, 2018, 08:04:59 PM
 #2

Use Ledger Neno S
https://www.ledgerwallet.com


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Airdropmya
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June 17, 2018, 08:21:37 PM
 #3

^ or if you don't want to pay for a physical wallet, you can also print a paper wallet on MyEtherWallet (https://www.myetherwallet.com/).

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June 17, 2018, 08:46:50 PM
 #4

Can't go wrong with a Ledger Nano if you are serious about ETH storage/large amount. For a small amount, MyEtherWallet works just fine.
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June 17, 2018, 08:58:29 PM
 #5

If you are serious about security, dig a little deeper, and actually understand what myetherwallet does, and how it works... for example you can use it offline to create your transactions...

Also, 1 instance of the key is only as good, as it is not lost or destroyed... have backup(s)!
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June 17, 2018, 09:11:04 PM
 #6

Ledger Nano S is all you need in your case, looks like you wont find a better solution for your needs
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June 17, 2018, 10:53:51 PM
 #7

For storing small amount you can try using the paper wallet option of myetherwallet. Just be certain though that your in it's correct website when making the wallet so you don't get phished.
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June 18, 2018, 03:14:20 AM
 #8

this is not just for ethereum but for any other cryptocurrency that is similar to bitcoin:

use any wallet application that you like but it has to have the option to export the private key(s).
download the source and verify the signature of it (if they provide PGP signature which they should!).
download a Linux distribution such as Ubuntu and verify the signature of that too.
burn the Linux on a DVD.
disconnect your network and boot into that DVD.
install the wallet and  generate a new address and export its private key.
and write down/print this key on a paper.
shut down the OS and remove the DVD.

you now have a safe paper wallet for cold storage.

(you can create one for testing and send a small amount to it like $1 worth of coins and then spend it after a while to see if you can and learn how to. then store a larger amount in a new one)

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June 18, 2018, 03:24:25 AM
 #9

Go for MyEtherWallet(MEW)[1] if you're holding smaller amounts of ETH and ERC20 tokens. Go for a hardware wallet like the Ledger Nano S[2] or a Trezor[3] if you're holding more than a thousand dollars worth.

I would suggest making paper wallets if you know how to do it, but it's pretty difficult to make in a secure manner, so go with a hardware wallet instead.


[1] https://myetherwallet.com/
[2] https://ledgerwallet.com/
[3] https://trezor.io/

wulian18
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June 18, 2018, 04:38:26 AM
 #10

As far as I know, this is the cold wallet I know and use the most. Although I don't use it, if I have a lot of assets, I think I will buy it and use it.
clover12
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June 18, 2018, 02:40:03 PM
 #11

Thank you for the replies.  I will use My Ether Wallet because I only have a couple hundred dollars worth of ether sitting at Coinbase.
 
Another question: my ether at Coinbase is in a "hot" wallet, and if I sent it over to MEW it would be in a "cold" wallet, right?
 
=total newbie here Tongue
clover12
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June 18, 2018, 02:55:04 PM
 #12

Okay I got stuck at MEW

I managed to create a private key, and I wrote the numbers down on paper

Then at the next step it gave suggestions for making a public key (using Meta Mask, Ledger Wallet, Trezor, and others).  Those are all sites I need to pay for to have a public key generated?
 
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June 18, 2018, 06:22:05 PM
 #13

Besides sitting in my wallet at exchanges
Be careful of letting your coins stay on exchanges, it's not a good practice.

Also, if it is complex, I may need some directions how to set up the account...
Most suggestions are to buy nano ledger s and if you think you'll get troubled installing it, there are plenty of videos tutorial on youtube.

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June 18, 2018, 07:11:22 PM
 #14

Newbie here!  What is a cold wallet for Ethereum?  Besides sitting in my wallet at exchanges, where can I put it for cold storage?  Also, if it is complex, I may need some directions how to set up the account...
 
 Shocked
Just buy a trezor and store it on there. If you need some instructions on how to do it there are many tutorials about it on youtube. Also with the trezor you can store other main cryptos not only ethereum
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June 19, 2018, 04:21:19 AM
 #15

Another question: my ether at Coinbase is in a "hot" wallet, and if I sent it over to MEW it would be in a "cold" wallet, right?

no, what you have in Coinbase is not even a wallet to be hot or cold. it is an account. you don't control the private keys so you don't control the coins. Coinbase can decide they don't want to give you your coins for any reason and there would be nothing you could do.
and MEW is not a cold wallet as long as you are opening it online. if you download the source code and run that ALWAYS on an offline computer then it is a cold wallet.

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June 19, 2018, 05:23:50 AM
 #16

I use Trezor. You can store on it ETH, ETC, BTC and others like zcash and litecoin.
Very good one and safe, recommended.

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June 19, 2018, 09:00:57 AM
 #17

I also keep all my coins on the stock exchange. I don't use a cold wallet because I have orders on the stock exchange and therefore the coins should be on the stock exchange.

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June 19, 2018, 01:05:05 PM
 #18

imToken is a mobile light wallet APP application.
imToken is also a cold wallet, which uses offline signature technology to extract tokens in a broken network environment.
Theoretically, it is very safe to obtain the cold wallet private key from the network side.
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June 19, 2018, 01:14:32 PM
 #19

The cheapest option it just to keep the private-key in several places, for example on google drive and on usual flash card then to hide.

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June 19, 2018, 01:23:48 PM
 #20

Currently i am using nano ledger wallet (highly recommended) but the problems that you have to memorize secret words giving in case someday the device lost or stolen . so be careful on that . but also give a try to offline wallet creation from myetherwallet .

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