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Ethereum Classic was forked from Ethereum, but its storage has details that should not be overlooked. While commanding a lower price, the coin is still valuable and wallets have come on board to hold it.

Types of Ethereum Classic Wallets

Ethereum Classic has flexible storage options, perhaps even more than other cryptocurrencies. A lively community creates wallet apps to serve users beyond using an Ethereum Classic exchange as storage space. The types of storage for Ethereum Classic are:

  • Online-based storage systems linked to a cryptocoin exchange;
  • Browser Add-On, allowing storage, trading and the generation of a paper wallet;
  • Mobile device applications- a separate app or mobile access to an exchange platform. Usually just a mobile client for an online wallet;
  • Desktop software wallets where coins arrive after an exchange operation has been completed;
  • Hardware wallets for cold storage, which easily link to offline or online machines to send payments;
  • Paper wallets, generated online or offline, for cold storage, but also allowing electronic payments by scanning a QR code on a computer, mobile device or even cryptocoin ATM.

Top 5 Ethereum Classic Wallets for 2017

Jaxx - The Swiss Army Knife of wallets, a multi-purpose storage system. Jaxx can store your holdings of multiple cryptocoins.

Pros: Ease of use, multi-coin platform. Jaxx stores multiple cryptocurrencies and tokens. Good for fast spending or exchange operations. Jaxx also offers an easy to use mobile platform for holding your Ethereum Classic.

Cons: Low security due to issues with mnemonic seed recovery. Not a good long-term storage, not to be used as your most trusted Ethereum Classic vault.

Parity - this wallet works for Ethereum Classic, though its chief usage is to store Ethereum. Despite the recent debacle with Parity Multi-Sig Wallets, where Ethereum funds fell prey to a hacker, this is a well-used storage solution. Look for Ethcore Parity to activate this wallet.

Pros: Well-supported, easy to use. Offers desktop and mobile solutions that may extend to paper wallets.

Cons: a recent problem with funds drained from some Parity wallets, namely the Multi-Sig wallets, during a recent ICO on the Ethereum network.

Ethereum Classic Chrome Add-On- the most accessible version for beginners, loaded immediately. This wallet works along with the browser invisibly, can create multiple wallets and receive payments speedily. The add-on is an open-source JavaScript wallet, edited from an Ethereum wallet to serve for storing Ethereum Classic.

Pros: Extremely user-friendly. Recommended at the official Ethereum Classic site. An excellent solution for sending fast transactions or spending.

Cons: Works online, paper wallets are generated online. Users receive a warning to create an external backup of any wallets created, as unknown security issues may arise. Reinstalling Chrome or the extension itself may lead to loss of funds. Not a good long-term storage solution. May require more involved technical knowledge to set up a proper backup.

Mist - a widely adopted wallet, suitable for both Ethereum Classic and Ethereum. This wallet is also available from the Ethereum Classic main resource page.

Pros: open-source, user-tested wallet that allows desktop function. Mist also works for Linux users.

Cons: Technically more involved, requires users to install the right version and keep track of the process.

Ledger NanoS Hardware Wallet - NanoS has been expanding its offerings for wallets to store the most common cryptocoins. The solution is designed ideally for offline cold storage.

Pros: Security, not connected to the Internet, portable.

Cons: May require some technical knowledge, as users complain Ledger NanoS may not work immediately with Ethereum Classic. There is the possibility of physical loss and theft, a bit of a hassle to use for small-scale spending. Possibility of physical damage.

Top 5 Ethereum Classic Wallets Compared

 

 

       

 

Jaxx

Parity

Chrome Add-On

Mist

Ledger NanoS

Cold Storage

X

X

X

X

Yes

Ease of Use

High

Medium

High

Medium

Medium

Free

Yes

Yes

Yes

Yes

X

Shapeshift Exchange Mechanism

After Jaxx 1.0.2

Yes

X

Yes

X

 

Bonus Wallet: Exodus 1.36.1

The most recent version, released in October 2017, is the Exodus multi-currency wallet. It is a lite client that does not hold the whole blockchain. But you still own the private keys, hashed from a 12-word seed.

Save the seed in safe storage in at least two locations.

Exodus wallet has a built-in exchange using the Shapeshift service, allowing to exchange Ethereum Classic for several assets. Amounts are limited and for larger purchases, using an exchange account may be needed.