How to Set Up a Wallet
Below, we will walk you through the steps for setting up your first crypto wallet safely and securely.

What is a crypto wallet?

A crypto wallet is used to hold and store cryptocurrencies and NFTs.

There are two kinds of wallets: hot wallets, and cold wallets.
Hot wallets are like normal wallets that we use for day-to-day purchases. These wallets typically live on your phone or on your computer in the form of an application.
Cold wallets are similar to a safe or a vault; they are typically hardware devices, like a USB flash drive, and store your tokens off-line.
Today, we will be focusing on how to set up a hot wallet.

Creating a wallet

In this lesson, we’ll be downloading MetaMask to use as a hot wallet. MetaMask is a common crypto wallet used to interact with the Ethereum blockchain.
To create a new wallet, you will have to install a browser extension first. MetaMask offers extensions for Chrome, Firefox, and Opera.
We will walk you through the steps for installing MetaMask for Google Chrome, but keep in mind that the process is very similar for other browsers as well.

Step 1

First, you will want to navigate to metamask.io.

Downloading MetaMask

Click “Download,” and then click “Install MetaMask for Chrome” to begin downloading the Google Chrome extension.

Add to Chrome

Next, you will want to click “Add to Chrome” to add the MetaMask wallet to your Chrome browser.
You will then click “Add Extension” to proceed.

Step 2

Now that you have installed MetaMask as a browser extension, it's time to create your user account.
You should be directed to a new page that opens the MetaMask extension. Click “Get Started.”

Import vs. create wallet

MetaMask will prompt you to select either “Import Wallet” or “Create a Wallet.” The “Import Wallet” option allows you to integrate an already existing wallet, which is not relevant to us. We will select “Create a Wallet.”

Sharing your user data

You will then be asked if you’d like to improve MetaMask by sharing your user data. Feel free to select “No Thanks” or “I Agree”, based on your personal preference. Rest assured - the safety of your account will not be affected by your selection.

Create a password

You will then be asked to create a new password. Keep in mind you will want to create a strong password, with both upper and lowercase letters, numbers, and symbols. After typing your password, click “Create.”

Secret recovery phrase safety

MetaMask will present an informational video regarding Secret Recovery Phrase safety. We recommend watching this video before selecting “Next.”

PAUSE!

At this point, let’s just take a moment to talk about the importance of your seed phrase, otherwise known as your Secret Recovery Phrase.
Your seed phrase is a set of 12 random words. As a best practice, we recommend writing it down on a piece of paper, in the correct order, and keeping it somewhere safe.
Do NOT store it on your computer or phone, text it to a friend, email it to yourself, or show it to anyone. If someone gets access to this, your wallet will likely be drained. There is unfortunately NO customer service, help-line or forgot password link. In other words: DO NOT LOSE THIS!
A few examples of where you can store your seed phrase include:
  • A fire-proof safe
  • A book
  • Or your sock drawer
Keep in mind that these are just examples, and not necessarily recommendations. You should choose your own safe place based on your personal preference, but ensure it’s somewhere out of reach.

Reveal secret words

You will then want to proceed by clicking “Reveal Secret Words.” There, you will see your unique 12 word seed phrase. Think of this 12 word phrase as a master password for your wallet that you cannot recover.
Remember: Never disclose your Secret Recovery Phrase, and do not lose it. Anyone with this phrase has the ability to take everything in your wallet.

Confirm secret recovery phrase

Next, you will be prompted to confirm your Secret Recovery Phrase by clicking each word in the order you wrote it down. After completing this step, you will click “Confirm.”
Congratulations! You have now successfully created your crypto wallet! Lastly, you will be prompted to select “All Done,” which will direct you to your new account home page.

Nicely done!

Congratulations! You have now successfully created your crypto wallet! Lastly, you will be prompted to select “All Done,” which will direct you to your new account home page.

Account home page

Your account home page will show you all of your recent transactions, and allow you to buy, send, and swap cryptocurrencies. You can access this any time by clicking on the MetaMask Chrome extension in the top right-hand corner of your screen.
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On this page
What is a crypto wallet?
Creating a wallet
Step 1
Downloading MetaMask
Add to Chrome
Step 2
Import vs. create wallet
Sharing your user data
Create a password
Secret recovery phrase safety
PAUSE!
Reveal secret words
Confirm secret recovery phrase
Nicely done!
Account home page