In 2013, a British IT worker threw away a hard drive that contained 7,500 Bitcoins. Fast forward to today, that lost treasure is valued at an estimate of over $300 MILLION. Discover how NOT to be the next James Howells in this guide on How to Install Crypto wallet and Prevent Losses.

TABLE OF CONTENT

  • INTRODUCTION
  • WHAT IS A CRYPTO WALLET?
  • STEPS TO INSTALLING YOUR CRYPTO WALLET
  • CONCLUSION

INTRODUCTION

As you explore the digital realm, you need to have a Crypto Wallet — a secure Crypto Wallet. Because having a secure crypto wallet is like having a reliable backpack to store  your Crypto Currencies.

Now…

WHAT IS A CRYPTO WALLET? 

A crypto wallet is your digital vault, which allows you to securely store, send, and receive various cryptocurrencies. In this guide, I’ll break down the process on How to install Crypto Wallets.

Ready?

Let’s ride!

STEPS TO FOLLOW WHEN INSTALLING YOUR CRYPTO WALLET.

STEP 1: CHOOSE YOUR WALLET TYPE

There are Several types of Crypto Wallets. I’ll share with you three types of crypto wallets so you can choose your preferred ‘Backpack’ To start storing your crypto assets.

  • Hardware Crypto Wallets
  • Software Crypto wallets

Let’s further discuss these Crypto Wallets for better understanding:

1. HARDWARE WALLETS: These crypto wallets are physical devices that offer the highest level of security by keeping your private keys offline. Lists of Hardware wallets include: Ledger Nano S, Ledger Nano T, Trezor, et.c. They can be categorized into:

  • USB Hardware Wallets
  • Bluetooth Hardware Wallets
  • Multi-Currency Hardware Wallets
  • Single-Currency Hardware Wallets, et.c

2. SOFTWARE WALLETS: These are digital wallets that are software-based and can be installed on your computer, desktop or mobile device. For example: Exodus, Electrum, et.c. They can be further categorized into:

  • Desktop wallets.
  • Mobile wallets.
  • Online wallets. 
  • Lightweight wallets, and many more.

STEP 2: RESEARCH AND SELECT A WALLET

Conduct thorough research — I repeat, conduct a THOROUGH research — to find a reputable wallet that suits your needs amongst the list of crypto wallets above.

Here’s some criteria to help you choose a preferred Crypto wallet: 

  • Good user reviews
  • Strong history of security. (Little or no complaints from already existing users or community.)
  • Features that align with your preferences. 
  • Projective team vision: Does the team intend to grow better, while still ensuring safety of user funds? Joining the Community could provide you with such information.
  • Look for wallets with good user reviews, a history of security, and features that align with your preferences. 

STEP 3: DOWNLOAD AND INSTALL THE WALLET

HARDWARE WALLETS:

  1. Purchase the hardware wallet from an official and trusted source.
  2. Set up the device by following the manufacturer’s instructions and create your new wallet.
  3. Install any required software or applications on your computer or mobile device.

SOFTWARE WALLETS:

  1. Visit the official website of the wallet provider.
  2. Download the software application compatible with your operating system.
  3. Install the software following the on-screen instructions.

STEP 4: CREATE YOUR WALLET

1. Launch the wallet app or software.

2. Use the app’s instructions to make a new wallet. This typically involves setting a strong password and receiving a seed phrase, which is like a secret key that can unlock your wallet. It’s crucial for recovery, so keep it safe.

3. Write down the seed phrase and store it securely offline. Do not share it with ANYONE.

STEP 5: RECEIVE AND SEND CRYPTOCURRENCY

1. In your wallet app, find your unique receiving address. This is where you’ll receive cryptocurrency.

Keep in mind that each receiving address is specific to the type of cryptocurrency you’re dealing with, so always double-check and use the correct one for each transaction.

2. When receiving crypto, share your wallet’s receiving address with the sender.

3. To send cryptocurrency, enter the receiving wallet address and the amount you want to send. For Crypto to Naira Trades, you can make use of Deevyn trade hub.

And it’s a wrap! But before you leave, there are FOUR IMPORTANT THINGS YOU SHOULD NOTE:

  1. SECURITY IS KEY: Just like you lock your door at night, enable any extra security features your wallet offers, especially the two-factor authentication (2FA) which adds an extra layer of armor. Some wallets also offer extra layers of protection, like fingerprint recognition, PIN codes, or hardware tokens.
  1. BACKUP YOUR BACKUP: You heard me right; backup your data, then backup your BACKUP. Remember that seed phrase? Make multiple copies and store them in different safe spots. Think of the seed phrase as your treasure map. Losing it means losing access to your treasure. Keep those copies safe!
  1. STAY UPDATED: Keep your wallet app updated to benefit from the latest features and security patches. It’s like getting the coolest armor upgrade in COD.
  1. JOIN COMMUNITY: Becoming a community member can help you stay UP-To-Date with upcoming features, announcements and user-benefits from your wallet provider. You can Become a Member of our Community to stay updated with our products, offers and Contents to help your Crypto Adventure. 

CONCLUSION

Finally, you’re ready!

You are now equipped with the knowledge to get your very own crypto wallet up and running; your gateway to the Web3 universe, where digital coins roam free.

Before I bid you goodbye, remember to do these three things:

  • Choose wisely
  • Secure tightly
  • Trade smartly. 

P.S. If you’re curious about trading, check out our trusted crypto trade hub. You’ll find a community of fellow explorers just like you, navigating the digital treasure map together.

See you later then, fren. And don’t forget to let me know what you learnt in the comments 🩵✨

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1 Comment

  • Solomon
    Posted October 13, 2023 at 7:37 am 0Likes

    I can now start with ease.
    Thanks for the info. It’s was really helpful.

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