1. Home
  2. Training Library
  3. Programming
  4. Programming Courses
  5. Introduction to Cryptocurrency Wallets

How to Set Up a Wallet

Start course
Difficulty
Intermediate
Duration
22m
Students
59
Ratings
5/5
starstarstarstarstar
Description

This course delves into the subject of cryptocurrency wallets and covers what they are, how to choose the right one for you, and how to buy and sell cryptocurrency.

Transcript

In this lecture, I'll be guiding you through the process of setting up a wallet. You'll be shown the process required for setting up a desktop wallet, which will be Exodus. It's the most user-friendly wallet around. On top of that, it's a multi-asset wallet with ShapeShift built-in. Meaning, you can store and exchange multiple cryptocurrencies within the wallet. Let me now walk you through the steps required in setting up a wallet with Exodus. First, you'll need to head over to this link 'exodus.io'. Next, click 'Download'. As you can see, you will now be presented with a few options for downloading. Simply download the correct version, whether it's for Windows, Macs, or Linux, whatever your operating system is. From there, let the wallet download. Then, 'Open' the file getting ready for setup. Once you begin the brief setup process, you'll be taken through creating a password. Now, this password will be used to login to your wallet. So, ensure you make this as unhackable as possible. Use a random password generator and do not use the same password as every other account. Upon the brief setup, you'll be greeted with your new cryptocurrency wallet. However, before you claim your private key for your wallet, which is super important, you must deposit some cryptocurrency. It doesn't have to be a huge amount. You can get the receiving address if you select a 'Wallet'. Choose whichever cryptocurrency you wish to deposit. Then, click 'Receive'. The address shown is the address you should send that cryptocurrency to in order for it to show within your Exodus wallet. Once done, you'll be able to head over to this page here and get your private key created. Now, I can stress how important it is that you keep this as safe as possible. Ideally, offline. If someone knows this, they theoretically control your coins. So remember, once you've deposited your cryptocurrency, setup your private key right away. Then, from there, you can start customizing your wallet as you deem fit, whether it's localizing it, showing which cryptocurrencies to show, or even changes in the skin for your own Exodus wallet. So, yes. Once you've done all that, your Exodus wallet is setup and ready. You can send, receive, exchange cryptocurrencies directly from here. I'll be explaining how to buy and sell cryptocurrencies in the following lectures so not to overwhelm you.

About the Author
Students
464
Courses
8
Learning Paths
1

Ravinder is an expert instructor in the field of cryptocurrencies and blockchain, having helped thousands of people learn about the subject. He's also the founder of B21 Block, an online cryptocurrency and blockchain school.