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5 Best Ethereum Wallets of 2020

CoinTikka – Adding Spice to your Wealth

If you are searching for the best Ethereum wallet to safely store your Ethereum (ETH), then you have come to the right page.   Ethereum, as we all know after Bitcoin, is the second most acquired cryptocurrency in the world. It is ranked second on CMC as per the market cap. Another reason why the crypto […]

The post 5 Best Ethereum Wallets of 2020 appeared first on CoinTikka.

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If you are searching for the best Ethereum wallet to safely store your Ethereum (ETH), then you have come to the right page.  

Ethereum, as we all know after Bitcoin, is the second most acquired cryptocurrency in the world. It is ranked second on CMC as per the market cap.

Another reason why the crypto community loves Ethereum is its ability to create a smart contract. You can know more about Smart Contract here.

How to buy ETH?

You can buy ETH using fiat money or Bitcoin. I personally prefer using Bitcoin to buy it. My recommended global exchange to purchase Ethereum are:

If you are from India then you can purchase Ethereum from any of these local exchanges listed below using INR:

I have personally used the above exchanges to buy cryptocurrencies.

Best Ethereum Wallets:

Cryptocurrency wallets can be broadly divided into two types. The first one is known as a hot wallet, wherein the wallet is always connected to the Internet, for example, a mobile wallet.

The second one is known as a cold wallet, wherein the wallet is not connected always to the internet, for example, a hardware wallet. Cold wallets are more safe and secure than the hot wallet. Hence, they are highly recommended.

In this article, I will be reviewing both these types of Ethereum wallets and my emphasis will be more on these seven features of a wallet.

  • Private key.
  • Multi cryptocurrency.
  • Buying crypto using credit card
  • Crypto Exchange
  • Support.
  • User Interface.
  • Backup.
  • Security.
  • Platform Compatibility.

So, let’s get started.

Ethereum Wallet (Hardware):

1. Ledger Nano X:

It is considered as one of the best Hardware Ethereum wallets because of the following features.

  • You have access to the Private key.
  • It is a multi-cryptocurrency wallet (supports over 1185 digit assets including ERC20 tokens).
  • Brilliant after-sale support.
  • Easy to use User Interface.
  • You can easily backup the wallet.
  • It is safe and secure as it is a cold wallet.
  • It is compatible with different desktop operating systems (Mac OS, Windows, Linux, iOS, and Android).
  • The buying crypto feature is not available.
  • The exchange crypto feature is not available.

At the moment the price is only $119 and all future firmware updates are free. The price also includes free shipping.

Visit Website.

2. Ledger Nano S:

Ledger Nano S is basically the smaller version of Ledger Nano X. It also has a lesser storage capacity for apps. It comes with the same security and safety features but, at a lesser price.

At the moment the price is only $59 with free firmware updates for the future. This price also includes free shipping. The following features are also provided with this Ethereum wallet.

  • You have access to the Private key.
  • It is a multi-cryptocurrency wallet (supports over 1185 digit assets including ERC20 tokens).
  • Brilliant after-sale support.
  • Easy to use User Interface.
  • You can easily backup the wallet.
  • It is safe and secure as it is a cold wallet.
  • It is compatible with different desktop operating systems (Mac OS, Windows, Linux, iOS and Android).
  • Buying cryptocurrency feature is not provided.
  • No, exchange crypto features.

Visit Website.

Ethereum Wallet (Desktop & Mobile):

3. Atomic Wallet:

The Atomic wallet is a multi-cryptocurrency wallet with great inbuilt features. It comes with Atomic Swap, Buy Crypto, and Staking features.

It is available for both desktop and mobile, supports all major blockchains as well as more than 500 tokens.

This wallet is completely free and can be download straight on to your device. The setup is simple and requires you to create a wallet password to access it. It is one of the best Ethereum wallets suitable for different platforms.

  • You have access to the Private key.
  • It is a multi-cryptocurrency wallet (supports over 300 digit assets including ERC20 tokens).
  • Brilliant support.
  • Easy to use User Interface.
  • You can easily backup the wallet.
  • To hold cryptos always use the desktop version as it is not online always.
  • It is compatible with different desktop operating systems (Mac OS, Windows, Linux, Ubuntu, Debian, Fedra, iOS, and Android).
  • You purchase ETH with your credit card using this wallet.
  • You can also exchange other cryptocurrencies to ETH using this wallet.

Visit Website.

Check out this article on how to use Atomic Wallet for Android? and how to trade on Idex exchange using Atomic Wallet?

4. Exodus Wallet:

The Exodus wallet is another multi-cryptocurrency wallet that is available for both desktop and mobile. It supports more than 100 cryptocurrencies as well as ERC20 tokens.

You can also exchange cryptocurrencies using the Exchange feature. It is very simple and easy to use and is available for free to download. You can also Stake coins using this wallet.

  • You have access to the Private key.
  • It is a multi-cryptocurrency wallet (supports over 100 digit assets including ERC20 tokens).
  • 24/7 support.
  • Easy to use User Interface.
  • You can easily backup the wallet.
  • To hold your cryptos always use the desktop version as it is considered as a cold wallet.
  • It is compatible with different desktop operating systems (Mac OS, Windows, Linux, iOS, and Android).
  • Buying a cryptocurrency feature is not provided.
  • The exchange crypto feature is available.

Visit Website.

Ethereum Wallet (Exclusively for ETH & ERC20 tokens):

5. MetaMask:

MetaMask is a browser extension that works as an Ethereum wallet and a bridge to run Ethereum dApps. It also supports ERC-20 tokens and can function on any desktop browser that has been created on the Chromium platform.

It is a free extension that can be downloaded from the Google Chrome Webstore. It is a highly recommended Ethereum wallet for the community and is considered to be the safest wallet as it is a cold wallet.

The following features are provided with the MetaMask wallet.

  • You have access to the Private key.
  • It supports all ERC20 tokens.
  • Easy to use User Interface.
  • You can easily backup the wallet.

I personally use this wallet to interact with Ethereum DEX like Idex while trading ERC20 tokens. Check out this article on how to trade on a decentralized exchange using MetaMask?

Visit Website.

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My Thoughts:

All the above-listed wallets are highly recommended and best Ethereum wallets to safely store you ETH and ERC20 tokens. You can use any of them according to your requirements.

Hardware wallets are not free but have the best security if you are a long term holder or not a frequent trader than you should invest in hardware wallets.

Mobile and Desktop wallets are best for those who want to hold and also trade at the same time. It is very practical to use mobile wallets for trading nowadays as most cryptocurrency exchanges have mobile apps.

If you want to only trade ERC20 token as well as use Ethereum dApps then you should use the MetaMask wallet. I personally use it for trading.

Keeping your wallet safe is your primary responsibility. Treat your digital wallet as you treat your fiat wallet and never ever reveal your Private key to anyone.

Always keep a backup of your Ethereum wallet, so that you can use it on any other device in case of an emergency.

In The End:

Thanks for reading my articles about the best Ethereum wallets in 2020. I hope you enjoyed reading it as much I enjoyed writing it for you.

I hope you get all the relevant information required to choose one of the ethereum wallets from the list. In case if you have not joined our community on social media, you do so now. We are available on the following platforms.

Source: https://cointikka.com/best-ethereum-wallets/

Blockchain

Members of WallStreetBets Forum Alleged in Telegram Crypto Scam Stealing $2M in BNB and ETH

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Members of the popular WallStreetBets Reddit forum were suspected of a presumable cryptocurrency fraud that could have caused losses of no less than $2 million. By creating a designated Telegram group, they duped investors by guaranteeing remarkable returns through capitalizing on the recent crypto market rally.

The Core of the Hoax

Per a report by Bloomberg, alleged members of the WallStreetBets Reddit Forum used the Telegram messaging service to execute a blatant scam. A particular account by the name of ”WallStreetBets – Crypto Pumps” presented users the chance to purchase a new token certified as WSB Finance before it was listed on crypto exchanges. The operation is known as a pre-mine sale.

The essence of the fraud was connected to the recent cryptocurrency boom as bitcoin and most altcoins skyrocketed in value lately. With some of the digital assets reaching 1,000% gains, the targeted WSB members conned investors into sending money without asking questions and with the potential of netting huge profits.

The notorious account also urged users to transfer popular cryptocurrencies such as Binance Coin (BNB) and Ethereum (ETH) to a designated crypto wallet and then to reach its ”token bot” to gain WSB Finance coins.

However, the perpetrators never dispatched those coins. Furthermore, another message on Telegram revealed that the people who had already issued a payment had to send an equivalent amount again or they would risk losing their initial investment.


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The Aftermath

After executing the hoax, more than 3,451 Binance Coins were withdrawn on Tuesday (May, 4th) from the wallet inside the Crypto Pumps messages.

Since the price of BNB at that point was approximately $625, the fraud caused losses of more than $2.1 million. Following the scam, thousands of people expressed their frustration and tried to expose the individuals behind the account. Moreover, the quantity of the other cryptocurrency – ether – still remains a mystery.

Two weeks ago WSB admins warned about offers that might try to take advantage of the forum’s name in order to allure the crypto audience. The ”WallStreetBets – Crypto Pumps” account has been removed from Telegram but whoever managed it left a message that might stun the affected victims:

”Buying Lambo now.”

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Source: https://cryptopotato.com/members-of-wallstreetbets-forum-alleged-in-telegram-crypto-scam-stealing-2m-in-bnb-and-eth/

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Blockchain

South Korean Crypto Exchange Accused Of $1.5 Billion Scam

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The South Korean cryptocurrency exchange platform V Global was accused of luring 40,000 people into illicit multi-level deceit. The entire scheme amounts to more than 1.7 million won, which equals $1.5 billion.

The Investigation

As reported by the Korean officials, the police raided many places in the country related to a virtual cryptocurrency exchange, and its notorious CEO – known as LEE – alleged to fundraising without regulatory permission. The authorities blocked the exchange’s cash deposits as a part of the investigation.

In total, the Gyeonggy Nambu Police Agency reported that it searched the exchange’s headquarters in southern Seoul along with 21 other places and froze more than $214 million left in the account.

Another report from today shed more light on the developments. According to Yonhap News, the name of the organization is V Global. The Korean police are examining the accusations against them for fraud under the Certain Economic Crimes Weighted Penalty Act, the Similar Receiving Act, and the door-to-door sales business.

The main accusation against the exchange is gaining a deposit of 1.7 trillion won ($1.5 billion) from 40,000 members in the period between August 2020 and January 2021. The announcement revealed that most of the people were elderly or housewives with no experience in cryptocurrency trading.


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Too Good To Be True

The investigation revealed that the exchange urged investors to entrust their funds to an account and lured the members that the expected return would be three times higher than the initial investment. According to the authorities, there was a pyramid element in the scam as the exchange promised to grant an introduction fee of 1.2 million won ($1,065) for every newly recruited member.

The report affirmed that the trading venue paid some members in the form of a block. Therefore, people who signed up earlier received funds from individuals who entered the exchange later.

Moreover, the Korean police seem confident to deal with the fraud case as it revealed its intention to confiscate 240 billion won ($214 million) left in the V Global account as of the 15th last month, even before the prosecution process.

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Source: https://cryptopotato.com/south-korean-crypto-exchange-accused-of-1-5-billion-scam/

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Georgia’s central bank is exploring ‘Digital Gel’ CBDC

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The National Bank of Georgia said that it is considering launching a central bank digital currency.

In an announcement today, the central bank hinted at the issuance of a central bank digital currency, or CBDC, in an effort “to enhance efficiencies of the domestic payment system and financial inclusion.” The National Bank of Georgia, or NBG, said it would be inviting fintech firms and other financial institutions to participate in the project, named Digital Gel after the symbol for the country’s fiat currency, the lari.

“CBDC holds the promise to unlock the tremendous value of innovative business models for the benefit of society,” said the announcement. “The introduction of CBDC could increase financial intermediation efficiency, help introduce new financial technologies, facilitate financial inclusion, and reach previously unbanked populations.”

However, the bank mentioned the possibility of risks in the launch of a CBDC in the Republic of Georgia given the “new and potentially disruptive technology.” The NBG said it may conduct extensive testing of the CBDC in a controlled environment to ensure a smooth rollout, but did not provide any details regarding a timeline for launch.

With a population of roughly 4 million and a gross domestic product of approximately $15 billion, a nation like Georgia falls at the smaller end of countries exploring CBDCs. The Bahamas officially rolled out its Sand Dollar central bank digital currency in October, while China has been piloting its digital yuan in select cities prior to a full-scale launch. In the United States, Fortune 500 company Accenture announced this week it would be partnering with the Digital Dollar Foundation to conduct CBDC trials.

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Source: https://cointelegraph.com/news/georgia-s-central-bank-is-exploring-digital-gel-cbdc

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