Ethereum Classic – Types of Wallets

Before choosing a particular type of Ethereum wallet, it is recommended to study the existing options, as well as familiarize yourself with their advantages and disadvantages. On the crypto market, it is customary to divide all digital wallets for storing cryptocurrency, including the storage of ETC tokens, into five separate types. They have their own features, so you need to become aware of each of them separately.

Desktop Wallet

The classic solution is a desktop wallet, which is a computer program. It should be downloaded from the official site of the developer and installed. Note that in addition to downloading the program, users will have to download a blockchain separately, which is the main disadvantage of this technology.

Thus, in order to be able to use such cryptocurrencies, a user must have a computer with a large hard drive.  Also, one should not forget that uploading a blockchain takes a long time and does not always end successfully, because there can be problems with servers or the user’s Internet connection can be temporarily interrupted.

Mobile cryptocurrency wallet

Mobile cryptocurrency wallet is a kind of desktop version, the only difference is that this software is installed not on your computer, but on your smartphone or tablet. In this case, of course, such a program will have somewhat limited functionality.

The program can download not all the information, but only that part of it, which is directly responsible for ensuring the normal functionality of the cryptocurrency wallet when making various financial transactions with crypto.

Such mobile versions of ETC wallets are known for their simplicity, convenience, and user-friendly interface. However, due to the lightweight functionality and slightly simplified technologies responsible for the security of crypto assets, they are more vulnerable to being hacked by cybercriminals. 

Therefore, experts recommend using such digital wallets only for simple transactions and crypto withdrawals, but not for storing large sums.

Online Wallets

One of the easiest and most user-friendly types of crypto wallets are online wallets. They somewhat resemble mobile wallets in their functionality, but they do not require downloading and subsequent installation on a mobile device.

You only need to have an active Internet connection to access your account. The user’s account information, as well as the user’s money, is stored on the servers of the company providing the crypto storage services in the cloud. This automatically frees users from having to download, install, and configure special software on their computer or mobile device.

You can create an online wallet at https://ethereumclassicwallet.com/. This process will not take you more than 1 minute.

Hardware Crypto Wallets

Hardware crypto wallets are a special kind of crypto wallets, which are real hardware tools. Among users, such devices are also called local (cold) wallets. Their main feature is that they have almost no interaction with the crypto network, which almost completely eliminates the possibility of hacking.

In fact, the only significant disadvantage, besides the cost of such devices, is that if they are lost or break down, it will be almost impossible to restore access to the money. 

Paper wallets

The last type of crypto wallets are paper wallets. These crypto wallets can be called the most original type of crypto wallets. They are an ordinary piece of paper where all the information needed to access the crypto-assets stored in individual accounts is written down. 

Due to the fact that such paper can be lost or stolen, you should keep it in a safe place, because otherwise it will be very difficult to regain access to your crypto accounts.

What wallet to choose

There are a large number of hardware, software and online solutions suitable for safe storage of Ethereum Classic tokens. Based on the way the crypto coins are used, the user will have to decide which option to prefer. 

Thus, the choice of a particular type of wallet rests solely on the users themselves. You can try to find the answers to such questions on thematic forums, where users discuss not only ways of mining cryptocurrencies, but also methods of storage. Experienced users will be able to provide solid arguments in favor of using a particular wallet for specific purposes.