In this second post I wanted to talk about the various wallets you can use, and how to set them up, as well as a few fun ways of getting some free crypto to get started. There are a multitude of wallets out there, I am only going to talk about the ones I have used, so I apologize for not being more thorough. The first and biggest thing about setting up a wallet is: ANYONE ASKING FOR YOUR SEED PHRASE IS TRYING TO STEAL FROM YOU! When you set up a wallet, you will be given a list of words, this is known as your 'seed phrase'. This allows you to restore your wallet and is the ultimate access code. NEVER GIVE ANYONE ELSE YOUR SEED PHRASE, DO NOT EMAIL IT, DO NOT TEXT IT. Ideally, you want to store it in some physical way such as etching it into metal. Storing it written in a fireproof safe is also a good option.
Litecoin Core and Bitcoin Core: These wallets were the very first ones I set up. They are incredibly easy, and the software is easy to find if you just Google it. Running these wallets counts as running a node, but will not earn anything for you, it just helps with network security and decentralization. Basically, you download the software, set it up through the wizard, document the necessary information such as keyphrases or seed phrases, your address, anything else relevant and immediately store it somewhere safe. From there, it's simple, the user interface makes it easy to send and receive your crypto.
Digi-Wallet: Digibyte is a favorite coin of mine, and their mobile wallet is very easy to use. Caution: when downloading from the app store, make 100% CERTAIN you are on the right page. There have been apps posted on there that were fake wallets, like the Daedalus wallet for Cardano's ADA. It was up on the app store for some time before it was taken down. Always read the reviews and do a little Googling before setting up the wallet and sending your crypto to it. Now, for the wallet itself, I believe it also acts as a node, and works very well. I haven't had a single issue with it.
Metamask: This wallet is for your internet browser. It can be a bit confusing so I will go into a little more detail on this one. Metamask is a wallet that can connect to many different blockchains such as the Ethereum Network or the Binance Smartchain, which you will hear about probably the most. When people talk about the meme tokens like Shiba Inu or Safemoon, these are tokens that have been created on said networks, but are not native to those chains. Metamask is able to connect to the blockchains and safely store many different tokens and coins, but you have to always be certain that you are connected to the correct network. Sending BSC coins to the Ethereum chain will result in a loss of assets if I remember correctly. The point is always double check everything. First thing is to go to Metamasks website and download the software. Get it set up and get your documentation done. Then, go to Google, and search for 'adding BSC to Metamask'. Follow the instructions on Binance's website, easy-peasy. To add specific coins, it's as simple as heading over to CoinMarketCap.com and clicking a couple of links. When you search for your coin, make sure you find the correct one. Change your network to the appropriate chain, and you will see a section under the name of your token called 'Contracts'. Click on the link, Metamask will prompt you to add it, and voila, you're done. Remember that to move coins in or out of those wallets, you need to have either Ethereum coins or BNB Binance coins in those respective wallets to cover any "gas" fees (the price to move your currency to or from the network).
Natrium / Kalium: These wallets are great for beginners. They are very simple, downloadable from the app store, and super user friendly. Natrium is for Nano, Kalium is for Banano, they are both instant, feeless cryptocurrencies. Banano is my favorite of the two, you will find a very fun and engaged community around this token. Same deal with documentation as usual.
__
Lastly I want to cover one of the fun, free, risk free ways to get into cryptocurrency. I mentioned Banano earlier, this one is very easy to get started with. The community on Reddit around this coin is super supportive and will tip you in this currency for any entertaining posts or memes. There are a multitude of faucets, daily and weekly, which are easy to find at banano.cc. Additionally, there is a website called JungleTV live, where users can connect their Kalium wallet and spend small amounts of banano to queue Youtube videos for everyone to watch, while users all reap a small portion of the Banano spent. They have giveaways for BAN and for banano NFT's fairly often. They are involved in several games and have a page where you can even play slots using any collected / bought NFTs to play and earn free BAN.
Next post I will try to cover a few more of the fun ways you can earn for free and just generally discuss some of the terminology. Thanks for your time, stay safe, and don't just HODL, stake it too!
https://www.publish0x.com/?a=WZdP7BmnbK
Setting up a wallet, getting started with faucets.
By Justin Spencer | Experiences of a Crypto Newb | 15 Jan 2022
How do you rate this article?
3
Just a regular Joe, trying to get ahead. I love the crypto space and I'm handy with computers, I work in a hospital and I love cheeseburgers
This blog will simply be about my experiences as an inexperienced crypto trader and how to avoid the same rookie mistakes I made. I hope to help people ease into their experience instead of running head first into a brick wall like me.
Send a $0.01 microtip in crypto to the author, and earn yourself as you read!
% to author / 80% to me.We pay the tips from our rewards pool.