If your dealing with NFTS if you dont know what an nft is check out this https://activerain.com/blogsview/5663579/so-what-is-nft--nft--nftrealestate
or if your dealing with Crypto coins, and looking to stake them (think of dividend payments for holding stock) or if your looking to do loans with dfinance exchanges you will need to have a wallet to handle one or all of the above.
I would recommend metamask and or coinbase wallet to get started
Over 20 million are using the metamask wallet and it was started by the Ethereum foundation, this was the first most important thing to me when starting with crypto since you hear all about the scams that are around and the hacks that are around I wanted to get as safe a wallet as possible. Nothing in life is guaranteed but trying to be as safe as possible. Tried to limit mistakes that could cost money.
You can download directly to your desktop, laptop or smart phone.
It will work with all major browsers Google Chrome, Mozilla Firefox, Brave or Edge
It will be a free hot wallet service.
Hot wallet means available to plug into a website like opensea so you can use the coins to deposit or wrap to make purchases on the marketplaces and or you will have the coins available to swap, stake or lend through the dex's decentralized exchanges.
If you wanted a cold wallet meaning less likely to have a chance of having an nft stolen through scams
https://activerain.com/blogsview/5747512/crypto-coin-scams https://activerain.com/blogsview/5746981/keeping-with-my-series-this-week-scams-to-watch-out-for-discord
You can get whats called a cold wallet, if you just want some crypto to keep for years and dont want it to be online you can download it to a usb drive try to go to trusted sources when selecting one something along the lines of cnet https://www.cnet.com/personal-finance/crypto/the-best-bitcoin-and-crypto-wallets/
just check the dates of their posts for updates in the way advancements if your reading this post in the future.
https://metamask.io/ this is the official link to download metamask
1.click the “Install MetaMask for whichever devices your using and browser.
2.click get started
3.create a Wallet
4.create a password (write copies of the password down on different pieces of paper)
dont email it to yourself and dont screenshot it on your phone these are known hacks.
thinking notpad on your phone, no they have hacks for that too.
5. Secret recovery phrase, you will see post in Discord and other services saying dont ever share this with anyone, this is just like a password but it allows them full access to your wallet if you do. (write it down on paper)
if its considerable amount put it in safety deposit box (those have been searched and funds seized in California with residents though) https://www.latimes.com/california/story/2021-09-19/fbi-seizure-cash-beverly-hills-vault-spawns-epic-court-battle. (save that for another post)
You will only need it when setting up or moving the wallet to another device whoever you share it with think of it like having access to your bank account so only trusted officials if its a sizeable amount -Attorney might hold onto it, family office manager, financial planner. They likely would be setting the wallet up for you if you have a certified planner and your not reading this so for the rest of us heres the rest of the steps. (There is such a thing as multi signature authenticator worth looking into if you are one of the top 1 % Realtors in the country and reading this... Trust but verify.
6.You can locate your unique MetaMask public address by clicking the “Account 1″ button
Thats it you have setup your metamask wallet and have your public address which most do share as they would need your password, seed phrase to be able to gain access, and or if you click on something giving them authorization to spend from your account through smart contract, links above on those scams.
https://www.youtube.com/watch?v=YVgfHZMFFFQ
This again is not financial advise, this is just in case you are interested and want to pick up some crypto and wondered where to start. 💯The best advise I received when starting out when you first send funds to your address send a very small amount a single dollar of crypto to make sure you copied the address right and all is working much like a credit card number it wont work if you have the wrong number it wont process however unlike a credit card if you send it to the wrong address by one letter in the address you just sent money to the wrong wallet. 💯
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