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  • Aniket Banerjee

CREATING CRYPTO WALLET

Updated: Nov 18, 2021


1) HOW TO CREATE AN ELECTRUM WALLET FOR CRYPTOCURRENCY


LET'S START FROM THE VERY BEGINING


1) Download and install the ELECTRUM. For Windows, it is suggested to use the installer version, not the portal one.

2) Keep a pen and paper ready with you to note down the seed mnemonic. Keep that paper safe in private.



CREATING THE WALLET

1)To create a new wallet file, you need to run the new wallet creation wizard.


The wallet creation wizard looks like this;


2) Click on next, then it will show wallet category selection.

Electrum provides different kinds of wallets, but if you are new to this then suggest selecting "standard wallet".


3) In the next step it will ask to choose where the wallet secret will come from

The seed is a kind of passcode that unlocks all your Bitcoins. During creating a new wallet you have to let Electrum create a seed for you.


4) Then Electrum will provide you with a seed of a 12-word mnemonic. It's a very critical thing in the current situation, so note it down somewhere correctly. It is suggested not to save it on any device, use hardcopy for it.

Also, write down "Software: Electrum" below the seed in the notebook. In case if you forgot.


5)Then Electrum will verify that you wrote down the seed correctly or not by asking you to retype it.

6) You also have an option to protect your wallet with a password. Though it is optional but still better to take precautions.

7) Electrum will then provide your wallet with a specific address ID and will open your wallet window before you.

8) And finally you got your new Electrum wallet. Remember to keep the notebook you wrote seed safe and sound in private. In case if you lost your wallet file or forgot the password, you can take control of your wallet again just with this seed. So there is also a drawback about the seed if anyone got your seed then s/he can take control of your wallet and steal all Bitcoins.

So keep it safe.



2) HOW TO SET UP AN EXODUS WALLET?


1) Download the EXODUS wallet.

You can download the app for free through Playstore.


2) Install the wallet.

Create a strong password.

3) Note down the seed phrase. Making a hard copy note is suggested.

Keep this note safe and sound in private.

4) After noting down the seed phrase, EXODUS will confirm the seed by asking you to write it again. And once the seed is confirmed, your wallet will open.


And finally, your EXODUS wallet is all set.



If you have any query then ask right below in the comment section.



SUCCESS DOESN'T COME TO YOU ,
YOU GO TO IT
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