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1. #Setup ethereum wallet how to#
2. #Setup ethereum wallet install#
3. #Setup ethereum wallet password#
4. #Setup ethereum wallet free#

This means that if their servers go down or the government sues Coinbase, your funds could be at risk.īy setting up your own decentralized wallet, you free your assets from being controlled by a third-party – meaning you have 100% control of your assets as they are stored on the blockchain and not a third-party server. Coinbase is a great service to buy and sell ETH, however, it’s downfall is that it is centralized. The first thing you want to do to is to set up your own wallet outside of a centralized exchange, like Coinbase.

#Setup ethereum wallet how to#

how to setup your own wallet outside of a centralized exchange to one that YOU own.So in this tutorial, I’m going to show you You aren’t able to interact with any contracts on the Ethereum network or do anything besides have the coins in there.By holding your own wallet, you can use your funds for whatever purpose – for using them in different Ethereum programs, buying/selling your own custom tokens, or participating in an ICO. In addition, you are limited to holding simple currencies – like Bitcoin, Ethereum, and Litecoin in Coinbase for instance. Press delete to remove app.Ĭongratulations! You have successfully set up a Ethereum wallet and can now use it on the Ethereum blockchain.Learning how to setup an Ethereum Wallet outside of a centralized exchange, like Coinbase, is important for any person wanting to invest more into the Cryptocurrency space. Centralized exchanges carry a heavy risk – your assets can get frozen, lost, and mainly, controlled by the Government. Always double-check and remove apps you don’t use by going to the settings section and clicking on the connected sites.Connect a hardware wallet ( Ledger wallet) to metamask wallet for additional security.You can use that address to send Ethereum from a centralized exchange like Coinbase, Kraken or, to your Metamask wallet. You’ll want to click on Account 1, and you’ll notice it says, “copy to clipboard.” That address that you copied is your receiving address. The last step is only necessary if you want to begin using your Metamask wallet. now you will be able to use your wallet.Ĭongratulations! You have now created a metamask wallet. To access the wallet click on extensions on your browser and click on the Metamask wallet. (example- the first six-word in-home safe and the other six-word in a bank locker).Ĭlick on “ALL DONE” Step 5: Accessing the Wallet Security Tip: write the 12-word seed phrase on two pieces of paper and store it in a safe location. Rearrange the words in the correct order and click confirm If this was lost, there would be no way of getting back into your account. Make sure to write down your 12-word recovery phrase which is shown on the next screen.

Step 4: Recording the Secret recovery phraseĬlick on “click here to reveal secret words”

#Setup ethereum wallet password#

Do not share your seed phrase or password with anyone. Security Tip: Write the Password on a different piece of paper and store it in a safe location. To learn more about wallets and wallet safety read my article on cryptocurrency wallets. Then click on the I agree button, then press create.Ĭlick next. then enter the new password and repeat for confirmation.

Write down a unique password with random letters, numbers, and Signs. Agree or Opt-out according to your preference. Make sure when using chrome or any browser, you check for phishing websites before clicking on anything so as not to get hacked. Security Tip: Always make sure you are visiting the correct website. Then click on add extension on the pop-up. You will be redirected to the Chrome web store, then click on add to chrome Metamask wallet is a browser extension so you have to click on add to chrome.

#Setup ethereum wallet install#

Install the Chrome extension, Brave extension, or Firefox addon for Metamask