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We’ve all heard about Bitcoin, tokens, and non-custodial investing. As the world’s political turmoil continues and celebrities like Elon Musk and Zack Zuckerberg continue to make headlines by buying and selling cryptocurrencies — not to mention Musk’s infamous “pump and dump” scheme for DogeCoin — regular people like you and me want to get in on the action, too. And as the world seems to be changing, crypto investing is leading the way in 2024.
In this post, we will explain all the details of Ethereum.
We all use the term Bitcoin as a general name for cryptocurrencies, but here we will explore Bitcoin’s competitor in the crypto space and explore your best options for storing Ethereum.
Table of contents
What is Ethereum and why should I buy it?
Ethereum is another cryptocurrency platform that uses blockchain, and it is similar to Bitcoin in this aspect, however, it is also different from Bitcoin in that Ether (the so-called Ethereum currency) allows for several different methods of exchange other than cryptocurrencies, such as Smart Contracts and the Ethereum Virtual Machine (EVM).
As of now, Ether is ranked below Bitcoin in terms of value, however, it is expected to surge in the coming years. The DeFi sector is expected to grow rapidly between now and 2025, prompting many top crypto experts to buy Ether, pushing its value to grow to an estimated $5,000 by 2025. With further predictions of $10,000 by 2030 if SEC Approves ETFs On the blockchain.
Our expectations? Ethereum is here to stay and should be considered a long-term investment for any crypto enthusiast..
Why choose a cold wallet for Ethereum?
The basics are simple when trying to Compare the types of wallets available To protect your cryptocurrencies, and it’s no different with ETH.
There are hot wallets, which are connected to the internet and can therefore be easily hacked and manipulated. There are cold wallets, which do not rely on the internet to store cryptocurrencies, and some other versions, such as paper wallets, software wallets, and electronic wallets.
but, Cold walletswhich do not use the Internet and do not have separate devices that need to be connected to other external devices that can be tampered with, such as a computer, It is the safest way to store your long-term digital investments..
Top 5 Cold Wallets to Store Ethereum
1. Bitcoin Material:
Made from AISI 304L stainless steel, the Material Ether Wallet is a great choice for anyone looking to keep their ETH safe for a long time. Since the wallet is a hardware Ethereum cold walletIt is offline, making it 100% hack-proof, water-proof and fire-proof. Sync your ETH with Material Ether This easy to use wallet is easy to use as step by step tutorials are provided for this easy to use wallet.
2. Trezor Model T:
Security features include a PIN and passphrase with an additional backup wallet available in case your Trezor wallet is lost or broken. The Model T uses a digital LCD touchscreen and a MicroSD card slot. It can connect to Apple, Microsoft, and Android devices. Unlike the Material Ether wallet, this physical wallet is still physically connected to a computer, which could be vulnerable to hacking.
3. Ledger Nano S Plus:
Unlike its counterparts Ledger Stax and Nano X, the Ledger Nano S Plus is truly offline as it does not allow for Bluetooth connectivity. It has a large memory and allows you to install over 100 apps at once and manage over 5,500 digital assets, however, since it is an e-wallet, users must be responsible for charging the wallet and keeping it safe from the elements.
4. Cape Key:
An offline ETH storage wallet that is making waves among new crypto investors because it is known to be extremely easy to use. It works on PC, Mac, Linux, and Android because it is a USB HID device. Like the Ledger Nano S Plus, it is electronic and relies on internet-connected hardware to manage ETH later. Keep in mind when purchasing a KeepKey that it is made in the US so the voltage and plugs will vary for international buyers.
5. GridPlus Lattice1:
A unique hardware wallet, connected to the MetaMask blockchain, meaning you can have multiple wallet addresses linked to GridPlus. It has a 5-inch touchscreen, making it a larger hardware wallet option than others on our list. What makes this wallet even more secure is the option to use SafeCards, a physical credit card-like pad that stores your seed phrases for added security. It’s a pricey option, coming in at $397!
Cold Wallets: Electronic and Non-Electronic
As we mentioned in our list, there are different types of e-wallets available, some electronic and some non-electronic. But what’s the difference? Is one more secure than the other?
✅ Features of the electronic wallet:
- Digital and visual presentations.
❌ Disadvantages of the electronic wallet:
- Depends on digital device that usually needs to be charged (user responsibility).
- It connects to devices that use internet connections, making it easy for hackers and scammers to get your money and information.
✅ Advantages of a non-electronic wallet:
- The most secure option for protecting seed phrases and PIN codes.
- Unhackable.
- It does not rely on users to charge or change the battery for function.
❌ Disadvantages of non-electronic wallet:
- You cannot send or receive cryptocurrencies from the physical wallet itself.
Long Term Ethereum Storage
The advantage of storing ETH long-term is that you have complete control over your private keys and how they are managed. You can control when and to whom you send and receive funds without relying on a third party, such as a bank.
Choosing the Right Cold Wallet for Your Ethereum Assets
The choice is yours when deciding how and where to store your ETH long-term. You need to evaluate what is important to you. Accessibility? Security? Ease of use?
Fortunately, you’ll find all of these features in Material Ether. It provides you with everything you need as a safe place to store your digital investments, easy access to your cryptocurrency by scanning the QR code on the steel plate, and guaranteed assistance through live chat and website tutorials.
common questions
Can you store Ethereum cold?
Of course! Ethereum can be safely stored in cold wallets, which are offline storage devices like hardware wallets. Storing it offline on a cold hardware wallet is the safest and best option for long-term Ethereum investors.
What is the most secure cold cryptocurrency wallet?
The Material Ether wallet is the most secure cold crypto wallet available on the market. It is made of steel and is indestructible, unlike other offline options such as paper wallets.
Is it safe to leave ETH on an exchange?
Leaving Ethereum on an exchange has risks, such as hacks and security breaches, which is why a hardware cold wallet is the safest place.
