Ethereum Storage Explained
Ether is not physically stored anywhere and if you want to use Ethereum you will need a wallet, also known as an Ethereum address.
Your Ethereum wallet will not contain Ether but it will contain the codes needed to access it. This is due to the fact that Ether never leaves the Ethereum blockchain. These codes that are stored within the wallet are known as private keys. If you lose these private keys, you lose the Ether, permanently.
When it comes to wallets, there are many options out there.
Hardware Wallets
Hardware wallets are physical storage devices similar in the form of external hard drives or USB sticks that store your private keys offline and only you can access them.
Desktop Wallets
Desktop wallets are applications that allow you to store your public and private keys directly on your computer. This uses a password system that you cannot lose and takes up a lot of space.
Mobile Wallets
Mobile wallets are extremely similar to desktop wallets, but they require less space and can be used on your smartphone to store public and private keys.
Web Wallets
Web wallets are wallets you can access through any web browser by entering the URL address. Keep in mind that these are the wallets that are the least-safe, so choosing a hardware wallet is your best option in terms of security.
Paper Wallets
Paper wallets are literally just pieces of paper with your address codes written on them. That’s it. The beauty behind them is that they cannot be hacked, but you still have to remember where you have placed them at all times.
When a wallet has a connection to the internet established, this is known as a hot storage device. When it is not connected to the internet, it is known as a cold storage device.
Buying Ethereum Explained
There are multiple sources through which you can purchase Ethereum.
