What is the recommended way to safely store Ether?

  • There are several options for storing Ether :

    Accounts

    Wallet

    In short there are a lot of options. So my question is is there an official recommended way of securely storing Ether?

    If the answer is 'Multi-signature' how should this be backed up (both files & printing the wallet address on paper) and how should the accounts which control the wallet be created and backed up.

    @JackWinters: I think it's close to being criminal that people consider that a website is an acceptable way to create a paper wallet. For all we know, even if the site looks fair, one time out of 50 it may decide to send a backdoored version to the user. The website could also be hacked and serve a backdoored version to anyone visiting the site during the compromise timeframe, etc. There are secure ways to create paper wallets. Using a website ain't one of them.

    A lot has changed since I first asked this question so we probably need some updated answers and some meta discussion. e.g. Should the accepted answer be a community wiki. (This would make it more live but it could also potentially introduce additional security risks since someone could edit the wiki to link to malware or to include deliberate bad advice)

  • tayvano

    tayvano Correct answer

    5 years ago

    There is no "official" when it comes to crypto. It definitely depends on your desire for security, how much you are going to be holding, what you plan on doing with the ETH or tokens stored there, and more.

    I recommend that people use whatever tool they can understand best and use with confidence. I do NOT believe that recommending someone who has never used command line to use geth. There's too much room for error and it deters people from investing and getting involved.

    Regardless of what tool you use to create an account/wallet, you should always safely store all of the necessary information in multiple places. Multiple places means multiple physical locations. If your house burns down, that computer and piece of paper are both gone. Read the instructions. Ask questions.

    Here is a list of trusted wallets I've put together.

    Last Updated: April 2019

    CLI

    Hardware Wallets

    Desktop Applications

    • MyCrypto — also has a web version with support via Ledger, Trezor, Safe-T Mini, MetaMask, Parity Signer.

    • Exodus: Desktop, multi-asset wallet with ShapeShift integration

    Mobile

    • imToken - iOS, Android. Longest running mobile solution for Ethereum. Dominates in Asia, tons of features, for some reason just hasn't quite breached the western market completely.

    • Trust Wallet - iOS + Android, dApp browser

    • WallETH - Android, Open Source

    • Parity Signer - Turns your old phone into a hardware wallet / transaction signer. Super safe. Can use with MyCrypto

    • Ambo - iOS

    No Longer Maintained

    • Mist Ethereum Wallet: GUI, Official, Full Node, App, Supports ETH, Generic Token Interface, Generic Contract Interface

    • Eth (c++ implementation): Command Line, Official

    • Icebox: by christianlundkvist @ ConsenSys, Primarily for Cold Storage, Downloaded, Open-Source

    • EthAddress.org: by ryepdx, GUI, Client-Side, Website, Can be Downloaded, Open-Source

    • ethereumwallet.com: By Kryptokit, GUI, Website, no longer under development (see Jaxx)

    • EtherLi: Multi-sig Ethereum Web Wallet, GUI, Website, online

License under CC-BY-SA with attribution


Content dated before 7/24/2021 11:53 AM