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How To Sign Up For And Use Arctic Wallet

Headlines are screaming the crypto winter, degrading the crypto investment idea. Yet, experienced investors see the good opportunity to stock up on some crypto while the prices are affordable. If you decide to try and buy some digital assets, the first thing you will need is a crypto wallet. Let's outline how to set up your first crypto wallet.

What is a crypto wallet?

A crypto wallet is a software App, browser extension, or hardware device helping you access your funds on the blockchain. It's simply an interface allowing you to manage your portfolio and store it.

How to choose a suitable wallet?

First things first, decide what type of wallet will work for you.

ūüďĆ Research on exchange wallets (Binance, Kraken, Coinbase, etc.) and decentralized wallets (MetaMask, Trust Wallet, Arctic Wallet, etc.).¬†

Exchange wallets do not offer full ownership of your funds, as you hold only the public key, an address to which crypto is sent; while the wallet's private key - a password granting control over digital assets - is under the control of an exchange.

With software and hardware wallets, you are solely responsible for keeping safe your private key and a seed phrase (12- or 24-word phrase to restore your funds from any device). 

ūüďĆ Also, consider what types of currencies a wallet supports and if it suits your investment goals.¬†

Some examples:

  • Trezor Model T ‚ÄĒ Best Hardware Wallet for Security
  • MetaMask ‚ÄĒ Best decentralized Wallet for Ethereum Compatibility
  • Arctic Wallet ‚ÄĒ Non-Custodial Multi-Chain wallet with 125+ assets
  • Exodus ‚ÄĒ Crypto Wallet for Altcoins
  • Electrum ‚ÄĒ Best Bitcoin Wallet

How to Set Up a Crypto Wallet?

Let's take a non-custodial Arctic Wallet as an example to illustrate the steps of setting up your digital repository.

Arctic Wallet is decentralized, meaning they do not ask for your private information and all the data and private keys are cashed on your device and nowhere else. It supports over 25 different blockchains and offers all the top cryptocurrencies for storing, swapping, buying, and selling within one wallet.

Step 1: Download the app from the official website.

Arctic offers desktop apps for macOS, Windows, and Linux.

Step 2: Set up the App and press Create the Wallet

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Source: Arctic Wallet

Step 3: Set up credentials.

Create a strong and unique password. Remember it. You will have to type it in every time you enter the App.

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Source: Arctic Wallet

Step 4: Set up the seed phrase.

Hover over the hidden part to uncover a randomly generated seed phrase. Write it down on a piece of paper and keep it under extreme security. NEVER store your seed phrase online, on cloud storage, or any device. Mark the check to proceed to the next step.

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Source: Arctic Wallet

Step 5: Confirm your seed phrase.

Press Next, and you are done!

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Source: Arctic Wallet

Now you can buy, send, accept, exchange, and store your crypto - all in one wallet.  

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Source: Arctic Wallet

Setting up the crypto wallet is easy and fast, yet, it opens access to a whole world of crypto. With decentralized software wallets, you do not need to share any personal data. Make the safety of your credentials and seed phrase a priority, and start your amazing crypto journey!

FAQ

What to look for in a crypto wallet?

Security and decentralization of the wallet are the most important parts. Also, consider the compatibility of the wallet with various blockchains and assets. Take a look at non-custodial crypto wallets.

How to set up a crypto wallet?

You can create a crypto wallet in three easy steps: download the app, set up the password and write down the seed phrase in the secure place.

How do crypto wallets work?

Crypto wallets provide access to your funds via its interface, while funds are stored on the blockchain. Your password and seed phrase open access to your portfolio (hackers including), so make sure to keep it safe and not to share it with anyone.

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