Learn about crypto wallets

Learn about
wallets
Setup
‍wallet
Done

Learn about crypto wallets

What is a crypto wallet?
‍
What does it mean to set up a crypto wallet?

What is a wallet address?

What is a secret recovery phrase?
‍

What IS a
Crypto Wallet?

Learn about
wallets
Setup
‍wallet
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What IS a Crypto Wallet?

A crypto wallet is an account for cryptocurrency and NFTs, but unlike a conventional bank account, it’s free, no ID required, and only takes 3 minutes to set up. 
There are different platforms available that enable you to create wallets, and these differ based on the network (or blockchain) they’re based on. Common blockchains are Bitcoin, Ethereum or Solana.

What does it mean to set up a cryptocurrency wallet?

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What does it mean to set up a cryptocurrency wallet?

It means you'll be able to send and receive cryptocurrency. Setting it up doesn't commit you to anything, cost anything, or even need you to share any personal info.

As mentioned, there are various wallets for different blockchains and purposes. We will teach you how to set up a ”Phantom wallet”. It's a secure and easy-to-use wallet for the climate-neutral cryptocurrency Solana.

What is a wallet
address?

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wallets
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‍wallet
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What is a wallet address?

A Wallet address is a 44-character code that is unique for your account. Currency gets transferred to and from wallet addresses. Your wallet address can be safely shared just like your email address or bank account number.

A Solana address can look something like this:
76HN1AUUzALrAVUDA6U3v3HbmJeQ2XVwQrPkumVjNcSS

What is a secret
recovery phrase?

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wallets
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‍wallet
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What is a secret recovery phrase?

Think of a secret recovery phrase as a master password for your wallet. It’s basically 12 randomly generated words that gives you, or whoever has them, full control of the assets in the wallet. So keep the words as secret as the name implies.

Once your wallet is set up, you don’t need to use the secret recovery phrase in your day-to-day usage. Instead, you use a password or Face ID (iPhone).

Note:
As long as you have your secret recovery phrase, you can lose your password - but not vice versa. So keep the words secret, hidden, and backed up.

TIME TO SET UP YOUR
WALLET!

Learn about
wallets
Setup
‍wallet
Done

TIME TO SET UP YOUR WALLET!

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