Wallet - BTC/ETH

If you want Bitcoin og Ether you need some form of wallet. This is the requirement to receive them, as a wallet (wallet or account would be an easier word for beginners) gives you an address that can receive Bitcoins or Ether or something else. A wallet gives you ownership of one or more addresses, such as Bitcoin addresses or Ether addresses, etc. In principle, it is not impossible to send to non-existent addresses because the address should only match the format - no-one checks There is no owner to an address. Nor is it possible. This is both an advantage and a disadvantage, but if you have your right address, then there is no problem.

As a beginner, you must be aware that there are big differences between the cryptocurrency and the general currency of your bank. Your account is as a rule protected from theft and much more, it's not your wallet. It's your very own job to protect it. If you lose your coins or tokens, they are gone - forever and they will not be back again. In other words, it is not possible to return a payment. This gives both pros and cons, depending on the situation. Bitcoin and Ethereum, however, are very safe and it is a very good alternative to traditional banks. A good example: You need to make a transfer to your friend in Africa, but banks can not do it on holidays, weekends and many other things, but with crypto currency, your friend in Africa can have the money a few minutes later and that are very cheap to send them.

Popular hardware wallet for Bitcoin, Ethereum and many others

Ledger Nano S: If you are serious about investing in Bitcoins, Ethereum or another cryptocurrency - you will need a "cold wallet". You can do this yourself by reading my guide about making paper wallets (at the bottom of this page). Alternatively, you can buy a Ledger Nano S, which is one of the most secure if you need to store large amounts of crypto. My personal rule is: If you have more than twice as much in crypto as a hardware wallet costs (it costs about € 80 incl. Shipping) then you need one.

Popular online wallet for Bitcoin

Blockchain.info: This online wallet is very popular among Bitcoin users. It's very easy to create a user on the page and then you have an address. The downside is, however, that it takes place on a website, and a website is not exactly the best place to have a lot of money standing. Therefore, this website is only recommended for people who want to experiment with small amounts (0-100$). If you choose to use this wallet, turn on all security settings.

Popular online wallet for Ethereum (Ether)

Myetherwallet.com: On this website you create a wallet, but it is not hosted on the website. The website only helps you make a wallet and encrypt it with a password that you choose. You can choose to download your wallet, print it or write down your private keys (which is proof of ownership of the address) - you can subsequently use the website to open your wallet. It is very smart and safer than other alternatives.

Popular "client wallets" for Bitcoin and Ethereum

Jaxx.io: This wallet is very popular among Bitcoin and Ethereum users because it is super easy and easy to install. Jaxx works on all devices, and you can even download it as an extension to Chrome. Then there are almost no excuses for using an online wallet. Update (04.09.2017): The new recommendation is that you use Jaxx for small amounts or as a temporary wallet.

Exodus.io: This wallet must also be downloaded and installed, it works on Windows, Mac, and Linux. Super user friendly and has a nice design. It's not as popular as Jaxx, but it's not a bad wallet at all. Should you try something new, try Exodus.

If you want to invest in crypto

If you plan on holding large amounts of Bitcoins, Ether or something completely third - then it's a good idea to get you a hardware wallet or a cold wallet in general.