There are many ways of creating a wallet to store your Ether. Just like going to the mall and selecting a product from the store, you would like to select the most convenient way to create a wallet for you.
There are a few considerations to have in mind when creating a wallet: Because you’re creating a secret number or key, you will need to be sure nobody is able to get that number or get access to it ever. The problem with most of us is that we’re probably using a windows computer that is probably infested with as many viruses as possible, so that’s would be the first barrier. One of these malware softwares could be a key logger software recording every single key press you do or a software taking pictures of your screen every few seconds, so guess what: As soon as you create your wallet, BUM!! somebody already stole the information and will steal any future money you put in it.
There are other complications: You create your wallet, store the account and key in a local TXT file inside your computer, start using it and one random day your computer dies and you loose the wallet information, well, guess what… There’s NOBODY in this world that could recover that info for you, there’s no bank managing your money for you and no bank manager that will tell you, “oh let’s see how we can help you”… Nobody but you has access and control to your wallet. (same as real life: loose your wallet in the sidewalk of a fabela in Brazil, there will be no way to recover it, trust me! )
Well, you would say – “let’s print my wallet in a paper and store it at home” and think there would be no issues with that. Well, you’re wrong! There are a few main issues:
- You use a wifi printer and somebody is sniffing any little bit of data going through your wifi.
- You use a local printer and store the paper somewhere, somebody gets into your house and steals the paper.
- You proudly put the paper in a canvas and hang it to a way in your private office. One day you and your friends are drunk snapping a few selfies and posting them to instagram and back there on the wall the paper shows to the world your account and private key numbers.
In either scenario YOU WILL GET ROBBED as soon as you put some money in your wallet.
Do you capture the idea ? Does it resonates now? Your wallet should be created and store in a secure way.
How to create a wallet in a secure way
The favourite way for most of the geeks out there is the Mist wallet: https://github.com/ethereum/mist/releases
The Mist wallet is a project constantly updated in github that allows anybody to run a few command lines locally and create a wallet instantly. You would be downloading the files to your computer, disconnecting Internet for a few wile, running the code in your computer, obtaining the account and private key, storing them in a secure place (what about writing them in a piece of paper and putting it on a vault in the closet?) and voila! You would have your wallet created and ready to be used.
After you get your account and private key you can print it or write it in paper and store it securely, you can reconnect to internet. myetherwallet allows you to print a PDF with the information, it looks something like this:
Here’s also a sample PDF for you to download and have an idea of how the final PDF would look after you open your account and get the information printed:
There are many other ways to create a wallet and many different codes and programs to create wallets. There are even online services that will create and store the wallet for you. Just be careful if you decide to go with a server, as they will be able to access your wallet and the companies behind these services could declare bankruptcy at any time, leaving you without any money. (like literally going to the convenience store and asking the owner to keep your wallet with him so next time you come by and buy something he can just open it and take the money himself… )
Hope this get you in a clear route to having your wallet (or wallets) and start filling them with the most precious thing in earth: Ether!