In the light of the massive surge in the price of Ethereum (ETH) in the last weeks I wondered if my online wallet provider was in fact buying the digital currency for me. I didn’t feel that sure, since betting on a burst of the bubble anytime soon could yield massive profits for these online trading platforms – and I certainly would conduct such a strategy.
Hence I started to move my Ethers to my local wallet on my Linux (Ubuntu) machine. That task to turn out to be pretty easy. Here are the steps I performed:
1. Got to GitHub and Download Wallet
2. Install the downloaded package
sudo dpkg -i Ethereum-Wallet-linux64-0-8-10.deb
3. Run The Wallet
[After waiting 8h for the blockchain to fully download]
4. Add Account – choosing a new password.
5. Sending the Ethers from my online wallets to the machine (in the wallet menu – something like 0x…)
6. Backing up the local keys which can be found in the menu (Account->Backup->Accounts)