bitcoin in pocket

Picking Your First Wallet

By Batha | Journey Into Crytpo | 2 Jan 2021


As for a lot of us getting into the crypto world in all its glory trying to understand the ins and outs of it i find a lot of people asking the same old question, "What wallet should I use?".

Its not as easy as looking up on google and searching up wallets, you would be bombarded with tons of different picks and ads for wallets and as a noob i was overwhelmed by the amount of online answers that even i could not understand at that time. So how did i make my pick ?

Well you kinda have to ask yourself what you want in a wallet, you don't have to use the same wallet for the rest of your life, you're able to move your hodl's from wallet to wallet as you advance in the crypto space and learn more about the assets you want to venture in and out to in the future. Bare in mind network fees will always haunt you no matter where you end up at as something to take note off.

In a nutshell, there are generally 3 types of wallets in the crypto realm. 

Paper wallets, as the name suggest, is considered the most secure wallet since it is fully offline but susceptible to .... well its a piece of paper anything can damage it and you could easily loose it. Remember how the dog ate your home work ? now imagine what would you do to it if it ate your paper wallet.

Hardware wallets, these are the most expensive wallets, secure, and generally recommended for people who put in a lot of assets into it.

Software wallets, this is where you want to be at as you begin, free to download comes in different forms and meet all your start up requirements, easy to use, easy to understand, as long as you keep your system virus free and not open those you know what website with a lot of malware. You should be safe.

As a noob i wanted a wallet that was well designed, simple to use well at least before i decide to go further deep the crypto hole. This is merely my recommendation and may change in the future as i learn and adapt more into the crypto world.

For the most part i use Exodus wallet, it is a free desktop wallet and has smart phone apps you can download and sync to each other. Side note, to download the app or desktop wallet from exodus make sure you are on their official website, or go to their YouTube channel and hit their redirect link and watch how they initially set it up.

Exodus is a very user friendly wallet that i started with and highly recommend it to people just starting out into crypto. Not only can you use it for your hodl's but it has inbuilt apps allowing for staking and earning passive income, a topic i will cover on a later post, and also swapping coins from one crypto to another all from within your wallet. Don't be frightened of the network transfer fee when you first want to move fund from Exodus to another wallet, the network fee shown would represent how much you would have to pay for the fastest transfer recommended by Exodus. You can always go into settings and allow custom fees, this way you can determine how much u are willing to pay for the transfer (low pay means more time to send funds)

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Exodus most likely has most of the coins a noob would be looking for in the early stages and more new coins being added to it every now and then. But if you're looking for a wallet that handles Ethereum and most ERC-20 Tokens then i would suggest MyEtherWallet, Mew for short. Remember always visit wallets at their official websites avoid google search and using the Ads links provided. All most all the Ethereum based tokens will be available on Mew and if not you can manually add your new custom tokens there. But that is something you would get into as you further progress!

Apart from the above wallets as a beginner you should have a Coinbase account, on sign up with the link you would get 10$ worth of BTC on your first 100$ purchase. Although Coinbase is safe to use, it is not recommended to leave your hard earned coins on exchanges its best to move them to your private wallets. After setting up Coinbase, you may want to use these links and make your wallet look pretty with some free coins (limited Slots available). Stellar Lumens (XLM) , Compound (COMP) and Band protocol (BAND), Make sure you have your account verified to be able to get these offers you might be put on a waitlist but you'll eventually get confirmed and claim them. I have made individual posts on each if you every feel like you need help with the answers ill post them below along with a few other reliable ones as well.

 

Wishing you all a Happy and Prosperous New Year !! 

Like/follow for more future posts! and tips are always welcomed 

 

Earning Platforms 

Cointiply ---> Cointiply link, Read my post on how it works.

Cryptotab ---> Download link, Earn crypto while browsing  

Adbtc ---> Link   DogeFaucet ---> Link

Other Freebies From Coinbase 

COMP ---> Coinbase Earn Link , Read my post on how it works

XLM ----> Coinbase Earn Link , Read my post on how it works

BAND ---> Coinbase Earn Link , Read my post on how it works

Other Freebies From CMC

GRT ---> Read my post here on how that works

OXT ---> Read my post here on how that works

SAND ---> Read my post here on how that works

 

 

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Batha
Batha

I love learning new technologies, gaming, photography and researching things that give you that "Aha!" moment. Living is a learning experience.


Journey Into Crytpo
Journey Into Crytpo

A noobs journey into the unknowns of the crypto space

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