How to deposit with Ethereum? Ether, the native currency of the Ethereum network has been taking advantage of the impact on technology to position itself. Today, it is one of the most important currencies in the entire market, being surpassed by Bitcoin. There are many fans turning to Ethereum from bitcoin football betting.
If you want to know how to deposit with Ethereum, let us find out here:
The possession of Ether is necessary to be able to use the full potential of the Ethereum Blockchain network. We need to learn how to acquire it safely and what methods we have to buy with our local currency.
Where do we store our Ether?
In order to deposit our Ethereum, we must know how we will store the Ether. As we know, cryptocurrencies store in Virtual Wallets. Those are software that allows us to interact with our private key within the Blockchain network of the specific currency, in this case, Ethereum.
The wallets have a public key and as mentioned before, a private key. The public key is like our bank account number and in the case of Ethereum, it is made up of an alphanumeric chain. When we want a transfer of funds, we will have to provide this public key in order to obtain Ether at our address within the Blockchain network.
The private key becomes like the key we use to access our bank account, although it actually fulfills many more functions. The private key is the key with which we can access to manipulate the funds within our address. We will need this key to be able to freely enter and manage the Ether we have.
Type of wallets used to store Ethereum:
Within the market, we will find several options to store our Ether. Among the different wallets that exist, we will find some that are completely safe while others choose to offer greater comfort for users. This variety of options design to satisfy all markets. Next, we will place some of the available options.
It is the official wallet they provide from the Ethereum Blockchain network. In a way, it is one of the safest ways to store your Ether and all currencies that originate within the Ethereum Blockchain network. However, it is not very easy to use the wallet, which means that it is not a totally recommended option for beginners.
How to deposit with Ethereum?
In case you are a beginner, but still want to open an account in MyEtherWallet, the first thing we should do is go to the wallet’s website. Once there you will proceed to look for the option that indicates the creation of a password for the configuration of a new wallet.
We will have to create a password that is completely secure and cannot distinguish by any other person. Once we have that secure key, the wallet will determine what is the private key of our address in the Blockchain network.
Because with this type of wallet we will have total control of our private key, it is necessary that we store and store it in a completely safe place. It is best to print the password and keep it in a completely safe place. Having the private key on a device with an internet connection makes it susceptible to hacking and theft.
Already having our access code and the private key of our wallet, we can enter it every time we want. We can also enter from any computer and very soon we can enter from mobile phones thanks to the Application that MyEtherWallet is developing.
Trezor is one of the best hardware and cold wallets that exist within the market. As we know, Cold Wallets are portfolios that remain disconnected from the internet and only connect for when we want to transfer funds. By not having a continuous connection, these types of purses are totally safe.
Trezor wallets can synchronize with computers, phones and wherever we have the Ether stored. Once synchronization is achieved, we can make the transfers of funds without major problems.
Each of Trezor’s wallets has a recovery phrase that presents in 24 random words, this phrase is useful in the event that we lose the wallet and need to recover our funds. In order to use the wallet, a 4-digit PIN code must also be set, it is set to activate or deactivate the wallet and works as an extra security method.
How to deposit with Ethereum?Mist:
The Mist wallet designs to work from a desk. Desktop computers store private keys and all wallet information directly from the computer where it installs.
In the case of Mist, we are talking about a wallet that endorses by Ethereum and has fairly high security. The wallet is incorporated with the ShapeShift option that allows you to exchange currencies between different Blockchain chains without having to go through an Exchange.
In addition, it is a wallet that works very comfortably and is quite intuitive to use, which is an advantage for users who do not know as much as operating within Blockchain technology.
How to deposit with Ethereum?Jaxx:
The wallets housed in mobile phones are necessary to consider within the market, they allow the coins to use more easily in daily commerce. In this case, one of the most recommended mobile wallets is Jaxx.
This type of wallet stores the private keys within the mobile device itself, which implies that it is necessary to protect the mobile as well as possible. This wallet also generates a recovery phrase that we can use in the event that we lose or have some problems with the use of the wallet.