If you are a beginner in Crypto or just didn’t have the time to do it yet, you will need to set up a secure crypto-wallet.
A wallet is your bank account, where you store your cryptocurrencies, such as Bitcoin, Ethereum and other Altcoins.
You also use your wallet in order to pay with your cryptocurrency.
In this guide, we will teach you how to quickly create your own wallet.
First, you need to know that there are 3 different types of cryptocurrency wallets all with a different level of security:
- Hardware Wallet – Most secure
- Software Wallet – Medium security
- Exchange Wallet – Least secure but most easy
How to get started with a hardware wallet:
If you want the most secure wallet a hardware wallet is the way to go.
The Best Hardware Wallets for Bitcoin and Other Cryptocurrencies
How to get started with a software wallet
We recommend new users to use Electrum for software wallets.
You can visit their site here.
How to Create an Exchange wallet with Coinbase:
1) Go to Coinbase and follow the instructions to register an account.
2) Activate your account.
Once your account is activated, you will not need to verify your account in order to use your wallet.
If you wish to buy or sell on Coinbase however, you will have to follow certain steps. You can read more about buying and selling Bitcoin here.
3) Go to Account section on Coinbase.
Here you will see your BTC and ETH wallets. In order to receive a transfer, press “Get Bitcoin / Ethereum address” and provide the person or exchange you wish to receive a transfer from this adress.
It is very important you provide the correct address for the correct currency. If you provide the wrong address, you may lose your transfer.
After a transfer is completed, you will be able to see the balance in your wallet. Once you can see your funds they are available for use.
You can purchase, exchange or sell it through Coinbase or your exchange of choice.
You can also visit our learn section to find more information and guides on everything related to cryptocurrencies!
Not invested yet? Find the best exchange here!