How to create an Ethereum Classic wallet - features of wallet – CryptoMode
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Ethereum Classic (ETC) is one of the most popular cryptocurrencies in 2022. Currently, Ethereum Classic is ranked as the 19th largest asset in the market (according to Coinmarketcap).
Features of Ethereum Classic wallet
Before you start figuring out which type of Classic Ether Wallet to choose, you should get to know what they are all about. You should also find out the inherent features of Ethereum Classic Wallet that allow this wallet to store Ethereum Classic tokens while providing the necessary level of security for the stored crypto-assets.
Wallets for storing and using Ethereum Classic cryptocurrency are characterized by the following features:
- Cryptocurrency wallets are essentially similar to online fiat storage wallets. Also their security system has a number of similarities, but there are some differences;
- Cryptocurrencies have no central issuer. Information on transactions can be obtained by third parties, and an advanced technology of two-level identification is used to access the user’s account;
- Traditional virtual wallets and wallets for Ethereum Classic operate on similar principles. The only difference between these technologies is that crypto wallets use more serious tamper-proof technology. Largely due to minimizing the likelihood of third parties gaining access to user funds, such wallets have become popular among users who use cryptocurrency for investing and making payments.
For ETC tokens, multi-currency cryptocurrency wallets that support this crypto would be suitable. Digital wallets specifically designed for the Ethereum Classic can also be used to store such coins.
Digital crypto wallets are a virtual account protected from third-party access to crypto assets. A distinctive feature of ETC wallets is that users have a choice of any multi-currency digital storage. That fact aside, Ethereum Classic is no different from cryptocurrency wallets used to store other digital tokens.
For example, first a user will need to create an account, generate a key in the form of a character set, and then the account number can be sent to other users. Having the account number, other users will be able to transfer funds to it. It is worth noting that Ethereum Classic wallets can also be used by crypto miners, including those involved in cloud mining. In the process of mining ETC tokens, they will be automatically redirected to an ETC wallet account.
There is no particular point in a deep analysis of crypto wallets, as they are special software solutions for the safe storage of digital money. There are online wallets, there are purely software wallets, and there are hardware portable ETC-wallets. It is up to the user to decide what type of ETC-wallet best suits him based on his own preferences and the specifics of his crypto-assets usage.
How to create an Ethereum Classic wallet?
Users planning to create a cryptocurrency wallet to store ETC tokens should keep in mind that this can be done both online and offline.
It is easier to create an online version of the storage for Ethereum Classic. Cryptocurrency exchanges or special mono wallets for ETC storage will be suitable for this. On exchanges you will need to create a user account and at the next step you can deposit money on your personal account. The main condition here is the right choice of exchange because the safety of users’ funds depends on it.
If you have not yet had time to create a wallet on the exchange, we suggest you look at the online ETC Wallet available at https://ethereumclassicwallet.com. The process of creating a wallet is simple enough. Follow the instructions on the website and in 5 minutes you will become the owner of your own wallet for storing Ethereum Classic cryptocurrency. The security of storing funds in such a wallet is much higher than in exchanges.
As for the process of creating an offline wallet for Ethereum Classic tokens, it consists of the following steps:
- First, you need to go to the official website of the cryptoproject you have chosen. Next, you should choose a suitable wallet;
- Depending on the operating system used, you need to select a suitable installer and click download;
- After completing the download, you should run the installation file;
- after installation, you should go to the wallet creation interface and click on “Create new wallet”;
- next, you need to specify the type of the wallet to be created;
- at the final stage press “Take me to my wallet” (the text of the button may be different for different wallets), after that a window with the cryptocurrency account address will appear on the screen.
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