First, you should know why we need an ether wallet. Ethereum is a blockchain program having its virtual machine. Virtual Machine can execute the script on its own. This helps to maintain the Ethereum network. Ethereum’s token is called Ether for having a single Ether you should have an 이더월렛. You can always have your Ethers in exchange. But wallets are very flexible and easy to handle. These wallets have an easy-to-use interface, so it is excellent for beginners.
Ether Wallet is of three types and hardware, software, and paper. Software wallets are the most common ones, and we would set up that. A hardware wallet is the secured hard drives that store your keys. In this, you have to link your hardware wallet to a software wallet to manage the tokens. Paper wallets are the physical prints of the keys, and they are printed and used. Beginners are advised not to use the paper wallets as this includes your private key. Software wallets are the applications that run on platforms like Windows or macOS. Software wallets are a convenient way to access your tokens.
Now let’s talk about how to set up the wallets and exchange the tokens: –
- Initial Step: The initial step is to visit the wallet’s official website and chose the sign-up option, and a welcome screen would be there. Once you come in login screen the wallet, you would be introduced some conditions and statements. It is advisable to read these terms and not ignore this.
- Password: –After confirming the conditions and terms, you will be promoted to the screen where you will be asked to create a new password. So, you have to create a password that you could remember and hard to guess.
- KeyStore: – After you create a password. A Keystore file is created, it means that this is the file which can help you enter into account. Keystore can be a JSON or UTC file if you download the file store in the most secure location. Also, make a back up of this file. Treat Keystore as a million-dollar because you never know it can be.
- Private Key: – Most significant step is this. A private key is a key that gives access to your account entirely, and this cannot be changed, unlike a password or a Keystore. The private key is the essential thing in this whole process.
- After Step: – After you see your private key, you will be passed to a screen asking you options to show you your address, and you have to choose different options like Keystore or Private Key or hardware address. So choose according to your comfortability. If everything goes right, you will be shown a screen stating that your account has been successfully created.
Ether wallets are essential for managing the tokens of Ethereum. Now that we know how to set up the wallet.