Where you keep your digital wealth is as important as digital wealth itself. With Ethereum being 3rd Cryptocurrency based on market capitalization, there was an increase in the number of Ethereum portfolios with each promising a number of benefits that only a few keep their promises.
With experts predicting a positive wave of prices
hit the cryptocurrency market this year, Ethereum (ETH) is among the coins that are
expected to record a massive price appreciation.
While slowly accumulating some ETH coins in your Ethereum
portfolio, you should have the peace of mind knowing that you can access your wallet at any time
time without worrying that someone can keep track of your travels
inside and outside your wallet.
In this guide, we will examine the types of existing Ethereum portfolios giving examples in each case. As a bonus, we will have to examine the characteristics of a good Ethereum portfolio.
Definition of an Ethereum portfolio
In short, an Ethereum wallet is a storage solution, both hardware and software, that allows you to securely store your Ethereum coins. In addition to simple storage, an Ethereum wallet allows you to send ETH coins and at the same time keep track of many ETH coins that remain in your warehouse.
Types of Ethereum portfolios
Ethereum table wallet
As the name suggests, an Ethereum desktop portfolio is available only
for installation on a computer – laptop or desktop. This type of wallet is
advantageous in the sense that it gives control over whether you want it or not
store, receive and send your ETH coins without the need for full
functionality of the Ethereum blockchain. This type of Ethereum portfolio is
called a light customer.
Plus, with an Ethereum desktop portfolio, you can do it
download a complete client that has all the functionality of the entire Ethereum
blockchain. A full client is better than a lightweight client even if only a
a simple Ethereum wallet is needed, a light client will work perfectly.
Benefits of a desktop Ethereum portfolio
- Relatively safe
- Easy to use
- Easy to download and install
- Once a computer has been compromised, the wallet is at risk
- It is always connected to the Internet that can open it to hackers
Ethereum portfolio in the desktop
This is an official Ethereum portfolio that adds to its reliability. The portfolio is available for both Linux-based and Windows-based operating systems. When you download the portfolio, in addition to specifying the type of operating system on which you intend to install the portfolio, you must also consider the specifications of your system.
For example, when you download the Mist Ethereum wallet for
Windows-based operating system, you should consider if your O.S is 32 or 64 bit.
Although available as an extension on Google's Chrome web browser, it stores the wallet keys on your computer.
Ethereum Hardware Portfolio
Hardware portfolios are considered the safest places
keep your ETH coins. They look like normal USB drives with only one
the difference is that they are specially designed to store cryptocurrencies.
They do not need to always be connected to the Internet.
The only time you need an Internet connection is when you need to run a
- Expensive compared to other types of portfolios
Ethereum's leading hardware portfolios
The best choices for this type of portfolio include Trezor,
KeepKey, Ledger Nano S and the Ledger Nano X, recently announced, provide
a Bluetooth connection.
The Ethereum portfolios in this category are in the cloud and
you can log in from any machine with an Internet connection. Unlike the desktop
portfolios, online portfolios offer flexibility in terms of accessibility.
- The keys are stored online
- Easily accessible by hackers
- You do not have full authority
Leading online wallets
The safest online Ethereum portfolio is MyEtherWallet which, unlike other online portfolios, stores the codes on your machine. It is also decentralized.
Other types of online portfolios include those provided by
Factors to consider when choosing an Ethereum portfolio
Before settling on one of the above types of wallet,
what you need out of the wallet should dictate your choice.
You want to have full control or a third-party solution
Third party ethereal portfolios are those provided by
cryptocurrency exchanges. But with hackers who are targeting virtual stored coins
currency exchange, this option may not be the best if you value your digital
Do you want a light or a complete customer?
A complete customer portfolio will be the preferred choice for those looking to participate in the confirmation of transactions on the Ethereum blockchain.
Do you want a hardware?
or an Ethereum software portfolio?
This choice will depend on whether you want to store ETH coins on a portable device where it is not always connected to the Internet and you have maximum control of your keys and greater security.
Quality of a good Ethereum portfolio
Whatever option you choose, make sure the Ethereum portfolio
Safety – this should be your number one consideration. Without adequate security features, you're practically inviting a hacker to come and enjoy your wealth whenever you want.
Reviews – before settling on any of the Ethereum portfolios, you should check in the background and see how the product actually performed with others who used it before. While the negative reviews are red light, the positive reviews are not necessarily a green light as some of the reviews can be cooked.
Clear T & C – a good Ethereum portfolio must be supported with clear terms and conditions that show how the portfolio works and what the rights of the end users on the portfolio are.
The signature scheme used – to improve security, a portfolio that has a multisig (multi-signature) is the best option. A multiple signature requires multiple signatures of different people for a transaction to be authorized. The number of people to provide the signatures is agreed before setting this feature.
Basing your search for the best Ethereum portfolio on our website
over the discussion, you will certainly land on the best Ethereum wallet.
In your search, be sure to consider the features
you want from an Ethereum portfolio and focus a lot on security.