Stop relying on third party wallets! How to set up your own Ethereum Wallet using Parity. by ardy

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ethereum · @ardy · Jun 22 '17 (edited)

$5.06

Stop relying on third party wallets! How to set up your own Ethereum Wallet using Parity.

![tiny.png](https://steemitimages.com/DQmRKMPw3dFW4UMdpPATRGtn11EoexRMhG5quDpsFjGJVDW/tiny.png)

I've noticed over the past few weeks the amount of people who are reliant on third parties to store their cryptocurrencies. This guide will focus on storing your Ethereum & Tokens using the Parity wallet. **It's simpler than you think**. 

Step 1 - Visit https://parity.io/parity.html and download Parity for your operating system. 

Step 2 - Install the wallet and open it to follow the prompts set up a wallet password and store your 25 word password backup somewhere safe.

Step 4 - The wallet will begin to sync the Ethereum blockchain, this may take an hour or two but it's only the longest the first time! Check the bottom right corner of the window for progress.

Step 5 - Transfer your funds from the third party holding your Ethereum/Tokens to the wallet address. 

## It's that simple!

👍 ausbitbank, fyrstikken, minnowsupport, clayboyn, heretickitten, ardy, starrkravenmaf, urs, carlos-cabeza, fisteganos, swolesome, lances, diana.catherine, maninayton, banjo, shellyduncan, erikpro007, worldtraveler, nybble, rouketas, jwmackay, jhermanbeans, jeanelleybee, redgaruda, dianargenti, raja, fronttowardenemy, qwasert, sidwrites, whatamidoing, hypexals-spiral, ethical-ai, singa, beng05, albertvhons, numpypython, gbenga, abcdoctor

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abcdoctor	59,570,618	10.8%
whatamidoing	158,792,973	1.08%
jeanelleybee	270,290,513	10.8%
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beng05	109,323,109	10.8%
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ardy	1,355,709,259	100%
minnowsupport	93,403,549,538	10.8%
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@urs · Jun 22 '17

..its all good and right if you have unlimited internet.....and fast....i dont have this luxury here.....

than you have BTC and LTC and monero and DASH...and  ETH  and DOGE   and REP.....it would take me weeks just to sync the whole thing.....go for EXODUS and its all sorted....if it adds up,store it on a nano s...simple...easy...no sync....no worries mate....KISS-keep it simple stupid

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@ardy · Jun 22 '17 (edited)

It's dependent on whether you need to be connected to the node to get priority for transactions. The reason I posted this is because particularly people who participate in ICO's who rely on third party node like MyEtherWallet find it hard to register their transaction on the blockchain, and having parity solves this problem. 

That said I haven't used Exodus myself but it looks like a nice wallet.

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@urs · Jun 22 '17

...thanks for your explanation....it took ages all the time to sync my monero....at this stage i store them on a exchange...i know its not the best solution...but the best at the moment for me....i love the exodus wallet...miner fee for BTC are not cheap but they are nowhere nowadays.....

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