Your first cryptocurrency wallet
In this guide for your first cryptocurrency wallet, we will teach you what a wallet is and why you should have one. In addition, we will show you the Exodus wallet, a reliable platform where you can acquire, store, and manage your cryptocurrencies safely. Let’s start this guide by understanding what a cryptocurrency wallet is.
What is a cryptocurrency wallet?
A cryptocurrency wallet is a tool that allows you to store and transfer your funds. These transfers are made through the blockchain technology. Most of the wallets are virtual, but there are also wallets in physical form. Acquiring and knowing how your first cryptocurrency wallet works, is essential to be able to manage your cryptocurrency funds safely. Before buying or receiving cryptocurrencies for the first time, it is important that you have made an informed decision about your wallet and that you know all its functionalities. This will help you get the most out of this helpful tool. At the beginning of this guide for your first cryptocurrency wallet, we promised to show you a wallet to acquire, store, and manage your cryptocurrencies safely. For this, let’s take a closer look at the Exodus wallet, a platform where you can send and receive almost all cryptocurrencies for free.
The benefits of using the Exodus wallet
With the Exodus wallet you can enjoy the following benefits:
- Free deposits: with the Exodus wallet you can always deposit any cryptocurrency for free.
- Wide variety of cryptocurrencies: almost all availible cryptocurrencies on the market. These include Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Ripple (XRP), Cardano (ADA), among others.
- It has mobile and desktop application.
How can I register in the Exodus wallet?
To register in Exodus and create your first cryptocurrency wallet you just have to follow the steps below:
Download Exodus digital wallet from the official web page www.exodus.io
Launch previously downloaded file to install Exodus. After completion of installation, a pop-up will appear signaling that Exodus wallet has been successfully installed. (Click OK).
Run Exodus and you will see that the first step in order to get started is to deposit assets to your wallet.
On the left side of the application, click on “Wallet” and select the coin/token you want to store. After that you will have two options:
a. “send” – option to send cryptocurrency to another wallet address
b. “receive” – Exodus will display the cryptocurrency deposit address
Select “receive” and copy the cryptocurrency deposit address.
When buying cryptocurrency via our Crypto-atm , paste the previously copied deposit address to receive and store cryptocurrency on your wallet.
After Exodus receives your first deposit, choose “Backup” to continue creating you Exodus wallet account. Enter a strong password which will be used every time you will log in into Exodus.
After you have set a password, Exodus will automatically generate 12 words that will serve as a way to regain access to your Exodus wallet. For example, this could happen if your computer gets corrupted and you would like to open Exodus on a new device. Print these 12 words on multiple papers and save them on different locations for better security.
Finally, exit the Exodus wallet application and restart it. Exodus will ask you for the password you have previously set up. After you successfully log in, you will se the portfolio interface.
You have to do almost the same with the mobile App.
Remark: Crypto-atm is not in cooperation with “X” company and we do not promote their services, but we use their product as an example. The Exodus Wallet is selected based on the simplicity and convenience of installation and application itself for beginner users.