Ethereum Wallets Explained Simply (Smart Contracts, Gas, Transactions)

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Start trading Ethereum here: bit.ly/3brrhpF
Ethereum wallets allow you to hold Ether as well as to write smart contracts. Beginners will be better off using wallets that do not allow smart wallet functionality as they are much simpler to use.
The best Ethereum wallets for beginners are:
Ledger
TREZOR
MyEtherWallet (MEW)
Exodus
Edge
If you are looking for a smart contract wallet (also known as a full node) take a look at Mist.
Gas is the unit used to measure how much transaction fee you'll need to pay. It is calculated according to the complexity of your requested action and the traffic across the Ethereum network.
00:33 - Ethereum wallets in a nutshell
01:03 - Ethereum vs. Bitcoin
01:40 - Ethereum accounts
02:58 - Ethereum transactions
3:55 - Ethereum wallet types
07:11 - Ethereum units
07:52 - Gas and fees
11:52 - Ethereum fees summary
12:10 - Conclusion
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See anything we haven't covered? Leave us a comment in the comment section below

Пікірлер: 245

@99Bitcoins 3 жыл бұрын

CAUTION!! Many scammers are using the comment section to promote their scams and sometimes even use the name “99Bitcoins” in their profile. Never send money to someone you don’t know and don’t accept offers to trade or exchange cryptocurrency from strangers. Stay safe 🙏🏻🙏🏻🙏🏻

@jimgraves665 3 жыл бұрын

..... after almost 10 mins of my head spinning he goes......"now comes the tricky part"............ love this guy.

@brianwhelan5382 4 жыл бұрын

Crypto will eventually take over if we ever figure out how it works!

@camillecamille7151 3 жыл бұрын

Very funny!

@vamsikrishna4107 3 жыл бұрын

True

@BenDover-fm5hi 2 жыл бұрын

Yes that’s true - once your pickled you can never become a cucumber again - Technology has passed me bye 😳

@ElLuigiGrande 3 жыл бұрын

He really said - "don't worry it gets worst." 😂

@claudiogoa8563 4 жыл бұрын

we need more like you. Excellent video!

@pranavkumar5689 2 жыл бұрын

In this world of crypto madness and madmen, we have you. Thanks for the amazing explanation.

@contextmatters8243 2 жыл бұрын

Excellent! As a newbie to crypto, I thought initially that gas fees were arbitrary but now it makes sense.. Absolutely, miners should/must be paid for their labor..💯

@rowanswanepoel 3 жыл бұрын

Love the way you say gigawei... Reminds me of Doc saying jigawatts in Back to the Future

@ricardoruiz127 2 жыл бұрын

This was super useful, thank you!

@lisamroig 2 жыл бұрын

Thank you for explaining it. Although I only get about 5% of it. Great job!

@Beny123 2 жыл бұрын

keep rewatching it and take notes . Also watch other videos. It takes some effort until the concepts really sink in.

@robertw3299 3 жыл бұрын

An explanation that is as clear as Mud!

@paulhanohano6574 3 жыл бұрын

I/We appreciate all you share!....excellent, informative, learning so much from you!...your TOP Notch and Heaven sent !!

@NickProvada 2 жыл бұрын

Awesome. I came back above ground just in time and right on schedule.

@walkingintheway 2 жыл бұрын

Oh my goodness so much to learn thanks Nate

@totalfreedom45 5 жыл бұрын

Very cool, Nate! Gas = gas pump ⛽ or ethereum execution fee 💸 or fart 💨 🤣

@Plissken68 3 жыл бұрын

Total revenge of the nerds. My head is spinning.

@myadix 3 жыл бұрын

a title for an HBO serie in the next 2 years

@carlarome5290 3 жыл бұрын

Investing in Crypto now is very cool now especially with the current market price

@jamesarian4784 3 жыл бұрын

Stocks are good too

@stephanieclaude5043 3 жыл бұрын

Stocks are good but Crypto is Better

@stellaanderson9331 3 жыл бұрын

I wanted to trade crypto but got confused by the fluctuations in price

@vodahoe1967 3 жыл бұрын

WOW THAT WAS AWESOME ! THANK YOU

@amoldhumane8277 2 жыл бұрын

Beautiful Explanation !!

@RB-wu4us Жыл бұрын

Thank you for the educational information you provide

@1018Stacey 5 жыл бұрын

Thanks Nate you always make things easier for me to understand!

@abhijithmenon7564 3 жыл бұрын

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@jamesarian4784 3 жыл бұрын

Investing in Crypto now is very cool now especially with the current market price

@michaelbrown2074 Жыл бұрын

Invest and earn more money 💸 💰💸💸💸💸💸

@luuchoo93 Жыл бұрын

This was really useful. Maybe a practical example of how to pay the gas fee and execute a transaction, would be nice.

@tshaylatte9502 3 жыл бұрын

This is gold, thank you so much

@1thinkboss 3 жыл бұрын

Thank you so much for everything.

@user-hd7fs3mm4k 3 жыл бұрын

Amazing content 👌🏽

@99Bitcoins 3 жыл бұрын

Glad you think so!

@keving.6851 2 жыл бұрын

Great channel. Very good content.

@TheBeggFamily 2 жыл бұрын

Fascinating stuff!

@randymeh7833 Жыл бұрын

Nice update.

@99Bitcoins Жыл бұрын

Thanks!

@IonidisIX 3 жыл бұрын

Nate is Neat when it comes to explaining!

@TheCaffeineJitterz 3 жыл бұрын

Thanks for the video. I appreciate your explanation. Can you please tell me, in regard to Ethereum acting as a decentralized internet, what is the value in holding more than one Ethereum.

@videoa_viral 4 жыл бұрын

Thanks you.

@tapassew8652 Жыл бұрын

you explained ethereum trading in a nice way I even start to think to spend more tether on ethereum now

@michealphy4013 4 жыл бұрын

Very useful u are

@danielrabinovitz478 3 жыл бұрын

Thanks for the information, just getting into crypto now and this is super helpful!

@simonkatz3433 2 жыл бұрын

Hope you trade it too

@danielmuray6304 3 жыл бұрын

Can you list ICOs we can invest in 2021? You're the best to give this.

@CamdieMk 2 жыл бұрын

best explained

@Bigtymemcd 2 жыл бұрын

I think this would be more understandable if you included done examples of how this is used

@carlthier4348 3 жыл бұрын

Nate, can you go into how smart contracts actually make money?

@filohg 3 жыл бұрын

Please start doing the timelines for your videos. Would make it easier to flip between topics.

@liamayathan5943 3 жыл бұрын

I've watched this video a couple of times already, I think I finally get it haha

@illmaticeric 3 жыл бұрын

Thank you

@osheenchavhan4096 4 жыл бұрын

Unbelievably amazing and simplified video. Keep it up.

@abhijithmenon7564 3 жыл бұрын

@PipiRoe 5 жыл бұрын

It's the first time I finally understand!

@bogrunberger 4 жыл бұрын

And that's why Ethereum won't be universally adopted. It's too complicated for ordinary people to understand while Bitcoin is just digital money - and that's pretty simple to understand.

@cadenturnbough8140 3 жыл бұрын

I may have missed something but how do you mine ether?

@abdulganiuganikale9311 4 жыл бұрын

Please do a review on million money smart contracts deployed in eth, is it scam or legit? Is it advisable to invest in eth through million money?

@geraldsonythomas912 4 жыл бұрын

Can you do a video on initiative q?

@marinatoeverest 4 жыл бұрын

I have different coins on 2 different exchanges wallets and I want to transfer them all to MEW. do I need ether for gas in the exchanges wallets? Will it work if I have ether on my MEW wallet?

@LeoLenny72 2 жыл бұрын

If anyone has the English edition of this video could they please share it

@SV-zi9os 5 жыл бұрын

don't worry it gets worst lol

@clarajeanrawiri2009 3 жыл бұрын

Hi Can you Tell me the Diffetences between the Testnets plz? Ethereum GOERLI, Beaconscan etc

@slaneyside 3 жыл бұрын

i don't understand a word but i appreciate your work in trying to help me understand...i guess i don't really understand fiat either but because it's what i've grown up with i kinda understand it but when you think about it why do we trust a bit of paper to pay our bills buy our groceries or value our labour...i guess our kids and grandkids will just understand crypto better through usage as i do with fiat.

@7letsyrc 3 жыл бұрын

So, the contracts are written by a lawyer, and then it is uploaded for be coded by a minner? Do several minners can be working in one contract simultaneously?

@apoorvahiremath7115 3 жыл бұрын

Very well explained :)

@botamaster1236 2 жыл бұрын

First off - he's great. That said - his gas/ether explanation is confusing two concepts. He makes the point that Ether value is constantly changing with the painting the house, so we pay in Gas (a fixed calculated value). However Gas is based on Ether so his point is... well... pointless -as what you pay is constantly changing based on Ether anyway.

@jammze 3 жыл бұрын

wow this is crazy stuff

@NrtourInfoR 3 жыл бұрын

have you courses for built smart contract from scratch ?

@riteshmahashabde 3 жыл бұрын

Excellent explanation ! Just one doubt! How is value of ether is linked to the usefulness of etherium as a technology that supports smart contact! Is Price of ether depends on demand and supply as any other limited supply crypto or more applications on etherium will bring more value to ether holders !

@hodltudemun7926 5 жыл бұрын

Thanks for subtitle i'm from indonesia

@abhijithmenon7564 3 жыл бұрын

@kurtv.7634 3 жыл бұрын

Ohhhhh. So first I have to learn Indonesian.......apa?

@thebestforthemost 3 жыл бұрын

can you give an example of a "smart contract"? what did it do? and who used it? ... I am trying to understand why would somebody write and pay for a contract to be run on Ethereum (a program that apparently anybody can use and the program writer does not control)

@cryptomasteez2655 3 жыл бұрын

There are so many Ethereums which one is used for Dex's like 1inch, there's Eth/usdt, Eth/BTC, Eth/Busd, Eth/Bidr, Eth/Aud

@owencamp7009 3 жыл бұрын

how much HD memory do you need to store the blockchain? what do you need to be a full node? (system requirements)

@hughdubyna2252 3 жыл бұрын

I think it's a bit over 300 gigs at the moment. maybe 320 gigs

@duncaninvest 3 жыл бұрын

very good explanation, thank you

@cooolsoul 3 жыл бұрын

I have ether on binance. What are the steps to take, to utilize them? Do I transfer to these ethereum wallets you are talking about?

@simonkatz3433 2 жыл бұрын

No you transfer to the platform wallet address for the contract

@G3n1j 3 жыл бұрын

So if there are no miners, there are no gas circulating in network?

@sree1010 3 жыл бұрын

I am going crazy

@TheAtulorsonu 4 жыл бұрын

what is the difference between Ethereum Wallet and Ethereum Client? Are they both same? Eth, Pytheapp are clients and Mist, Metamask are wallets. Please explain.

@99Bitcoins 4 жыл бұрын

They are all different types of Ethereum wallet.

@BOLIVIAENELMUNDO 5 жыл бұрын

saludos desde bolivia

@vike1929 2 жыл бұрын

Hey Nate could businesses have their own cryptocurrency in the future and have that reflect value of the business like stocks are suppose to reflect value of a publicly traded company?

@botamaster1236 2 жыл бұрын

Why not. The question is who would want it. In essence shares in the non public company is the same thing. Back to who would want it.

@perrysmith7172 3 жыл бұрын

Thanks for this comprehensive explanation however if I have ethereum sent to a contract address not trust wallet on Binance smart chain, and I am unable to find it anywhere how can I recover my funds and have it sent to ethereum deposit wallet please help !!!

@eddiecarrick2424 2 жыл бұрын

very complicated but thanks

@SuperJohnny617 4 жыл бұрын

Awesome video once again pleasure to watch just a question based on the explanation you gave at 9:00 i must quote : "gas is payed in ether, now i know what you re thinking, why not just price execution of smart contracts in ether? why do we need another virtual currency ? well ether's price is constantly changing and if we priced contracts in ether the price would be different every time we calculated it due to the fluctuating exchange rate" if for example 1 gas is 2 ether and 2 ether is 4 euro/dollar (1 ether = 2 euro/dollar) , the price of the gas still fluctuates, if ether price doubles (doubling to 1 ether = 4 euro/dollar from 2 euro/dollar) we will need 8 euro/dollar to buy 2 ether for 1 gas so why bother ? why not pay contracts with ether and miners with ether or ether fractions ?

@shubhankarmote9726 4 жыл бұрын

Gas price is fixed, if ethers price goes up then gas price decreases

@martomystery 4 жыл бұрын

@@shubhankarmote9726 you just made it more confusing.Dont you mean if ether price goes up gas is still priced the same?

@Anas-gi9tn 3 жыл бұрын

// reply for people having same doubt in future its that, number of gas required is fixed that is it will always take 21000 gas to transfer money while if we use ether it may take for example .1 ether now and .2 ether in future

@SMH_ Жыл бұрын

The best answer would be convenience I think. I know how much gas im actually using, not just the price of it, get what i mean?

@FoodMania907 3 жыл бұрын

Is PROFITABLE SMART CONTRACT COMPANY AVAILABLE FOR TRADING ?

@LClarke 3 жыл бұрын

Goddamn, I just wanna buy some ETH. Must everything be so complicated? It's almost like crypto creators are trying to outdo each other by incorporating ever-increasing levels of complexity simply to entertain themselves. And I thought technology was supposed to become more user friendly over time. Foolish me...

@carospinks 3 жыл бұрын

this made me laugh.... EXACTLY! :)) it is a nightmare .... seriously... bla bla bla

@vamsikrishna4107 3 жыл бұрын

Yes ethereum is tough. It takes time to really understand it from scratch.

@sus6788 2 жыл бұрын

All you need is a wallet, and there are 3 types of wallets choose what suites you. Full nodes (takes more storage space), light nodes, and online services that runs the node for you but is not as safe as the other two There are many wallets in each type, some are free and open source, others are private from companies

@naoufaltakroumt6373 2 жыл бұрын

It has been too easy, now time for some complexity

@MRGCProductions20996 2 жыл бұрын

is the code ran everytime or just when its added to the chain? i thought miners where paid for finding the nonce, how do different instructions of a smart contract affect this? since the price of gas is always changing, doesnt that defeat the purpose of not paying in eth (the amount of gas per contract remains still but not the price, so whats the difference)?

@MRGCProductions20996 2 жыл бұрын

Also, you said nodes run the code, so am i to understand that all full nodes mine (unlike btc where you can run a full node without mining)?

@asifalishaikh3221 4 жыл бұрын

Does Gas fee is to distributed to all miners is it true? Is there is reward system? like Bitcoins miners get it only I case of winning

@99Bitcoins 4 жыл бұрын

Essentially yes, the winning miner gets all the gas used by each transaction they include in their block.

@constantined9015 3 жыл бұрын

But how that affects the minor investors? Usually they just buy coins, tokens and so forth, wait to value up and sell! I m asking because I saw too many videos regarding gas! In my opinion the people that execute contracts have already that knowledge! What do I don't understand here? Thank you!

@charlesa2017 3 жыл бұрын

so I deleted the file with my geth wallet, but I do have all the passwords and keys. Any way to still be able to get paid on that public key? I have balance on a mining pool, and don't want to lose it. ANy ideas?

@KutWrite 2 жыл бұрын

Only thing, in what currency does one pay for Gas?

@matthewmills8813 4 жыл бұрын

No wei it goes that small

@jaylen285 4 жыл бұрын

wow 99.9k subs on 99 bitcoin..synchronicity everywhere

@jx0uax0xn 2 жыл бұрын

Would this be in the proof of stake?

@jessicawiley5797 2 жыл бұрын

Sorry for writing you, just out of curiosity your page come up on my suggested friend lists so I was just wondering if I knew you from somewhere?

@JoshSpace 2 жыл бұрын

I currently have ETH in my Nexo account. I want to send it to my CoinBase Wallet. On the Nexo withdrawal screen a warning message box is displayed saying they operate with smart contracts and suggested to double check that the receiving address can receive deposits from smart contracts. Can CoinBase Wallet receive the deposit?

@russellballardjr5915 3 жыл бұрын

Who’s watching this in 2021??

@amandafleming350 Жыл бұрын

How to use a Bitcoin ATM, Amanda

@99Bitcoins Жыл бұрын

Hi Amanda, Please follow our guide here: 99bitcoins.com/bitcoin/atm/

@gorispm Жыл бұрын

What does it run out gas? If I am trying to send my Ethereum to my wallet and run out gas will my transaction be rejected and I will lose all my Ethereum?

@99Bitcoins Жыл бұрын

No. The gas is a fee drawn from your ETH balance. As long as you have a balance, you will be able to transact.

@kurtv.7634 3 жыл бұрын

I want to trade four houses for a hotel. I'm not so much worried about electricity, since I just bought the electric company, as much as whether I should pass "GO" or go directly to........whaaat?

@KuldeepSingh007 2 жыл бұрын

Gem!!

@jessicawiley5797 2 жыл бұрын

Sorry for writing you, just out of curiosity your page come up on my suggested friend lists so I was just wondering if I knew you from somewhere?

@imyourhuckleberry8009 3 жыл бұрын

I don't want to become a bank teller bro, just want to use the bank to move my money.

@goldenbanjo197 4 жыл бұрын

What can you do if you don’t have enough gas and the contract gets halted? Can you just add more ETH to the wallet you sent the ETH from?

@99Bitcoins 4 жыл бұрын

No, I don't think that will work. Most likely you will need to first fund the wallet then attempt the transaction again.

@kurtv.7634 3 жыл бұрын

I would walk to the nearest ETH station. Make sure that you have your wallet though, because once I left mine at home and all I had was my Blockbuster video card..........weird right?

@terunabronson4710 3 жыл бұрын

I'm gonna pretend that I indeed understood it..

@akirakir2271 3 жыл бұрын

how many times do i need to re-watch it to understand...

@filohg 3 жыл бұрын

1e18 times :)

@lorilongstaff9901 3 жыл бұрын

How do you get to know the people before you do a transaction. Most people would be strangers.

@simonkatz3433 2 жыл бұрын

That's why you don't go direct, you need to go through a platform

@tomasknor9420 3 жыл бұрын

Nice explanation overall, but I find comparison with Bitcoin misleading. Bitcoin can run smart contracts from the beginning. Bitcoin script is generally being underestimated, maybe because it looks simple. I'm not against Ethereum, I'm only saying that most of the things you can do in Ethereum, you could do in Bitcoin too, if only people knew.

@kurtv.7634 3 жыл бұрын

Ohhhhh. I see now. It's like.......what?

@karthikeyan1099 2 жыл бұрын

What is the purpose of having my code run as smart contracts on ethereum blockchain. Why the pressing need to go with block chain. In conventional methods how are this being done these days .please explain with some real time use case how it is different from having something in blockchain vs the current methods without blockchain

@legalcloudmining5973 2 жыл бұрын

⚕️I invest a little amount on bitcoin mining and it generates 50000 USD from is mining⌨️.......

@jamesbentz7883 2 жыл бұрын

sooooo convoluted, confusing and I can't believe people are subjecting themselves to this mental torture.

@LordMcMPA 3 жыл бұрын

7:37 "Jigga Wei"!? WAIT A MINUTE!!! Have I called it "Giga" (with two hard 'G's as in "Good") wrong all my life????

@jeffthomas905 3 жыл бұрын

gigaway, what? Is that a new dance move?

@emmanuelyahaya6497 3 жыл бұрын

really

@irinair7908 3 жыл бұрын

I cashed out for $50,000 and if I had held onto it, my Eth would have been worth $400,000.

@goldkelvin3319 4 жыл бұрын

Can I invest in Ether and not trade?

@99Bitcoins 4 жыл бұрын

Yes absolutely, if you just purchase some ETH and hold it in your wallet, you can then sell it whenever you choose, hopefully at a profit.

@thisoldminer 5 жыл бұрын

Where can I get a simple wallet that works? mist github seems to be corrupted sha doesn't match. thx

@99Bitcoins 5 жыл бұрын

I would recommend MetaMask as a nice and simple Ethereum wallet which functions as a browser plugin. It's even better when combined with a hardware wallet, such as the Ledger Nano S, for improved private key security.

@thisoldminer 5 жыл бұрын

@@99Bitcoins I wish they had a regular type wallet like bitcoin core gui. I don't understand MetaMask but will try. Thx

@johngerry9178 3 жыл бұрын

Used trust wallet app

@thisoldminer 3 жыл бұрын

@@johngerry9178 What is trust wallet app?

@johngerry9178 3 жыл бұрын

You ask where can you get a simple wallet that works I told you to download a trust wallet app