What is crypto wallet?

What is crypto wallet?

What is a crypto wallet? 

A crypto wallet is a digital tool on blockchains (like Ethereum) that stores your cryptocurrency, private keys, and other digital assets, including NFTs. Acting as your doorway to the Web3 world, this wallet enables you to carry out on-chain transactions, sign transaction messages, add funds to your wallet, and buy & sell NFTs. It's your interface to interact with decentralized platforms such as Aconomy. One such example of a crypto wallet is MetaMask. 

 

Setting Up a MetaMask Crypto Wallet

MetaMask will be used in this demonstration regarding how to set up a crypto wallet.

 

1. Download MetaMask:

  • Visit the official MetaMask website.
  • Download the browser extension suitable for your browser.

 

2. Initiate Setup:

  • Click on the MetaMask browser extension icon.
  • Opt to create a new wallet and follow the on-screen instructions.

 

3. Safeguard Your Seed Phrase:

  • Upon wallet creation, you'll be presented with a seed phrase.
  • This phrase is vital for accessing your wallet and its contents. Safeguard it meticulously. Treat it as if it's the only key to your digital treasury. Under no circumstances should you share this with anyone, as possession of this phrase means full control over your wallet.

 

4.  Linking Wallet to Aconomy:

  • Navigate to the Aconomy website.
  • Select the "Connect wallet" option.
  • A prompt will appear on your MetaMask extension seeking permission to connect with Aconomy. Grant the required permissions.
  • Finally, use the MetaMask extension to sign in and seamlessly login with Aconomy.

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