Electroneum (ETN) is a cryptocurrency that was launched in 2017 with the goal of widespread adoption and easy micropayments. Like other cryptocurrencies, ETN needs to be stored in a digital wallet. There are several options for Electroneum wallets, including mobile, desktop, paper, and hardware wallets. The best wallet for you depends on your needs and preferences around security, accessibility, and features.
Summary of Main Electroneum Wallet Options
| Wallet Type | Examples | Pros | Cons |
|---|---|---|---|
| Mobile | Electroneum App | Easy to use, convenient, accessible | Less secure than desktop or hardware wallets |
| Desktop | ElectroneumDesktop Wallet | Offers more security than mobile wallets | Not as convenient as mobile wallets |
| Paper | Printed paper wallet | Most secure option for long term storage | Not convenient for active trading or transactions |
| Hardware | Ledger, Trezor | Very secure, stores keys offline | Can be expensive, not as convenient |
Mobile Wallets for Electroneum
The official Electroneum mobile wallet app is one of the most popular choices for ETN storage. As a mobile wallet, it offers convenience and easy accessibility to your ETN coins on your smartphone. However, mobile wallets are considered less secure than desktop and hardware wallets since the private keys are stored on your internet-connected device.
Key features of the Electroneum mobile wallet:
– Available as a free download for iOS and Android.
– Allows you to store, receive and send ETN coins.
– Provides an option to enable two-factor authentication for added security.
– Allows you to check your balance and transaction history.
– Gives you easy access to your ETN coins from anywhere.
– Integrates with the ETN cloud mining experience.
– Synchronizes quickly with the Electroneum blockchain.
The official Electroneum app is well-reviewed and user friendly. It’s a good fit if you want quick and easy access to your ETN for frequent transactions or mining rewards. However, you’ll want to take precautions to protect your device and keys.
Some other mobile wallets that support ETN include:
– Trust Wallet – Supports many cryptocurrencies alongside ETN. Offers built-in dApp browser and staking services.
– Atomic Wallet – Features atomic swaps, decentralized exchange services, staking options.
– Guarda Wallet – Multi-currency wallet with purchase options, exchange, staking. Has desktop and web versions also.
Desktop Wallets
Desktop wallets provide enhanced security over mobile wallets since the keys are stored on your computer rather than online mobile device. The official Electroneum desktop wallet allows you to store, receive and transfer ETN coins from the comfort of your Windows, Mac or Linux computer.
Key features of the Electroneum desktop wallet:
– Free download from electroneum.com available for Windows, Mac and Linux.
– User friendly and intuitive interface.
– Enables paper wallet imports.
– Provides full transaction history and record.
– Built-in address book for contacts.
– Lets you encrypt your wallet file with a password.
– Regular software updates with new features and fixes.
The Electroneum desktop wallet is a solid choice if you plan to store larger amounts of ETN and want the convenience of making transfers right from your computer. It gives you more security than a basic mobile wallet. However, since it connects to the internet, it’s not as secure as a paper or hardware wallet for maximum protection.
Some other desktop wallet options for ETN include:
– Atomic Wallet – Clean and modern interface supporting many cryptocurrencies. Provides exchange services.
– Exodus – All-in-one wallet for desktop and mobile with exchange integrations.
– Guarda Wallet – Multi-platform wallet with support for many assets. Offers purchase services.
Paper Wallets
A paper wallet is a type of “cold storage” wallet that keeps your Electroneum private key offline in print rather than digitally. This is considered the most secure way to store ETN long-term. However, it’s not practical for frequent transactions since you have to import the key each time.
How paper wallets work:
1. Generate a secure private key and public address for your Electroneum wallet.
2. Print out the keypair QR codes on a sheet of paper.
3. Send ETN coins to your public wallet address for offline storage.
4. Carefully store the paper wallet somewhere very secure like a safe or safety deposit box.
5. When ready to spend ETN funds, import or sweep the private key into an online “hot” wallet.
The advantages of a paper wallet include:
– Keys are generated offline for maximum security.
– No chance of hacking, malware or viruses since it’s on paper.
– Durable long-term storage through improper handling.
– Completely free to create a basic paper wallet.
The downside is lack of convenience and difficulties if you lose or damage the paper. Some popular paper wallet tools include:
– Electroneum Paper Wallet Generator
– WalletGenerator.net
– Bitaddress.org
– BitcoinPaperWallet.com
Hardware Wallets
A hardware wallet is a special secure USB device, like the Ledger Nano or Trezor, designed to generate and store crypto keys offline. They provide super robust security by ensuring the private keys never touch an internet-connected device even when making transactions. Hardware wallets support Electroneum and are the safest choice for large balances.
Advantages of hardware wallets:
– Maximum security – private keys are generated offline and never leave device.
– Malware protection – transactions must be physically verified on device.
– Backup and restore – most provide backup methods to protect against loss.
– Support many cryptocurrencies – not just for ETN storage.
Things to consider:
– Cost – Ledger and Trezor wallets range from $50 to $200.
– Setup and use not as simple as software wallets.
– Must have device to send transactions or access coins.
– Risk of loss if device is damaged, lost or stolen.
The most popular hardware wallets that store Electroneum include:
Ledger Nano S and X – Feature packed models starting under $60. Support 1,500+ assets. Nano X offers Bluetooth connectivity.
Trezor One and Model T – User friendly hardware wallets costing $50 to $170. Advanced security features.
Most hardware wallets are accessed through companion apps such as Ledger Live or Trezor Suite for intuitive control and transactions.
Other Electroneum Wallet Options
There are a few other specialty wallets that may meet specific needs as well.
Electroneum CLI Wallet – This is the original command line wallet for early adopters and technical users to manage ETN from a computer terminal. Not recommended for beginners due to complexity.
Electroneum Paper Wallet – As mentioned earlier, paper wallets allow completely offline ETN cold storage by printing encryption keys. Add convenience by storing in a security envelope with tamper-evident seals.
Electroneum Web Wallet – This online cloud-based wallet option allows accessing ETN from any web browser. Convenient but higher risk than desktop or hardware wallets. Only recommended for small balances.
Many multi-currency wallets like Exodus or Atomic also support ETN storage alongside hundreds of other crypto assets. Their advanced features make sense for trading and exchanging various coins.
Selecting the Best Electroneum Wallet
Choosing your Electroneum wallet involves weighing factors like convenience, security and functionality based on your needs.
Here are some general guidelines for selecting an ETN wallet:
Convenience – The official mobile wallet app offers the most convenience for basic transactions and payments. Easy to download and get started fast.
Moderate Security – The desktop wallet gives a boost in security for more substantial ETN holdings while still allowing online access.
Robust Security – A hardware wallet like Ledger provides rock-solid offline security and backup features to protect large balances.
Maximum Long-Term Security – Paper wallets remove all digital vulnerabilities when kept in secure locked storage. Useful for long-term holdings.
Active Trading or Exchanging – A multi-currency wallet with exchange integrations makes sense if actively trading various coins including ETN.
Technical Expertise – The original command line wallet remains an option for early adopters who are familiar with terminal-based wallets.
Think about your specific needs and holdings to determine the right priority factors, then match a wallet that fits those requirements. For many users, the official mobile app offers a great starting point with room to upgrade security as holdings grow.
Importing/Recovering an Existing Electroneum Wallet
If you already have an existing ETN wallet set up that you wish to access from a new device or application, most wallets utilize common phrases or processes for recovery and imports.
With mobile or desktop wallets:
– You can typically recover an existing wallet during setup by entering your existing seed phrase if you have it. This will restore your address and transaction history.
– Or, import wallet files from another ETN wallet (.keys file) if applicable to transfer the balance.
With paper wallets:
– Sweep or import the private key printed on the wallet to claim the funds in a digital wallet interface.
– Scan the QR code associated with the private key for easy transfers.
With hardware wallets like Ledger:
– If you already have a recovery seed phrase, use this during the device setup to restore your ETN wallet address and balance.
– Or initialize a new wallet, and send ETN from original wallet to your new hardware device address.
Remember, never share private keys or seed phrases except when importing into a wallet you control. Anyone gaining access can steal your funds!
Sending and Receiving Electroneum
Once you have an Electroneum wallet set up, it’s easy to start sending and receiving ETN transactions.
To receive ETN payments:
1. Locate your unique ETN wallet address in your wallet app. This serves as your public address.
2. Share this address with the sender via text, email, QR code, etc.
3. The sender enters your address when making a payment from their own ETN wallet.
4. You should see the new transaction in your wallet history shortly as the payment is processed.
To send ETN payments:
1. Log in to your Electroneum wallet application or device.
2. Access the send options and enter the recipient’s public wallet address.
3. Enter the ETN amount you wish to transfer. Double check that all details are correct.
4. Confirm the transaction to authorize the transfer. A network fee may be charged.
5. The recipient will see the incoming payment in their ETN transaction history.
It’s important to always verify wallet addresses carefully to avoid mistakes. Most wallets offer address book features to save frequent contacts too. Sending and receiving ETN is quick and easy from any compatible wallet once set up.
Buying Electroneum
In addition to mining ETN or earning rewards, you may wish to directly buy ETN to fund your wallet. Here are some options:
– Exchange platforms – Buy ETN from exchanges like KuCoin, TradeOgre, or Cryptopia then withdraw to your wallet address. Requires account setup and identity verification on most mainstream platforms.
– ETN mobile wallet app – Features a buy ETN function powered by Banxa payments to purchase directly from wallet app with card or bank transfer. Quick but may have higher fees.
– From other users – You can buy ETN directly from other holders on marketplaces and forums. Allows peer-to-peer purchases with more privacy.
– ATMs – There are some ETN supporting ATMs and teller services globally that allow buying with cash. Limited availability currently.
Always research reputable platforms and sellers with transparent fees and policies when purchasing ETN. Transfer any coins you buy to your secure personal wallet rather than leaving on an exchange long term.
Selling and Trading Electroneum
When you’re ready to sell or trade all or part of your ETN holdings, you have several options:
Cryptocurrency exchanges – The most popular option is creating an account on a centralized exchange platform that supports ETN pairings like KuCoin or Cryptopia. This allows trading directly into other cryptocurrencies or fiat. Verify identity and connect bank to withdraw fiat funds.
P2P trading platforms – Decentralized exchanges like AtomicDEX and Godex connect buyers and sellers for peer-to-peer trading without intermediaries. Usually limited liquidity but offer more privacy.
In-person cash trading – You can find local ETN buyers to meet up with in-person and exchange your coins for cash. Use due caution when arranging meetups. ETN ATMs also allow selling for cash.
Merchant payments – As more merchants and businesses accept ETN for payments, you can look for spending opportunities before converting to fiat. This helps increase adoption and utility.
Always exercise caution when arranging exchanges and transfers to avoid scams. Start by selling small amounts to build trust and experience with any platform or method that’s new to you.
Setting Up a Paper Wallet
For super secure long-term offline storage, Electroneum paper wallets are a great option. Here’s how to set one up:
1. Navigate to paperwallet.electroneum.com on a secure offline device.
2. Move your mouse around randomly on the page to generate extra randomness.
3. Click “Generate New Wallet”.
4. Right click and print the page to PDF or physical printer.
5. Fold the paper wallet and store somewhere very secure like a safe, lockbox, or safety deposit box.
6. When ready to use funds, import the private key into a digital wallet interface.
Some tips for maximum paper wallet security:
– Use an offline airgapped device to create to prevent malware risks.
– Print a few copies in case of damage and store in separate locations.
– Consider laminating the paper or storing in a sealed plastic envelope to prevent water damage.
– Use tamper-evident envelopes so you can tell if anyone opened or accessed the wallet.
– Never digitally store or share the private key which would compromise security.
Paper wallets require diligent security precautions but provide excellent offline protection for HODLing coins long term.
Protecting Your Electroneum Wallet
It’s important to take steps to properly secure your Electroneum wallet from risks like hackers, malware, and losing access:
– Use strong unique passwords and enable any available security features like two-factor authentication.
– Backup your wallet keys/recovery phrases somewhere secure like an encrypted drive or safety deposit box.
– For mobile wallets, install security software on your device and don’t jailbreak/root it. Avoid public WiFi.
– Keep wallet software updated to the latest version for critical security patches.
– If storing large amounts of ETN, consider using a hardware wallet or offline paper wallet.
– Never share your wallet private keys or recovery phrases publicly or online.
– Verify wallet addresses carefully when copying and pasting to avoid costly mistakes.
– If selling ETN, withdraw coins from exchange sites after trading rather than leaving there long term.
With sound security practices, you can confidently store your Electroneum while minimizing the risk of theft or loss. Pay attention to scam attempts trying to trick you into compromising your wallet.
Conclusion
Electroneum offers a few different wallet options to fit your needs, from basic mobile wallets for convenient transfers to ultra secure hardware devices for protecting substantial value long-term. Consider your priorities for usage, security, and accessibility when deciding on the best Electroneum wallet solution for you. Enabling available security features like two-factor authentication can go a long way towards protecting your ETN coins against hackers and malware. With a good wallet set up, you can start mining, earning, trading, and spending ETN safely and securely. Just be sure to backup your wallet data and keep it updated for optimal performance. As the project continues developing real-world utility, ETN provides an accessible introduction to cryptocurrency payments.
