Here we are reaching the first practical lesson in our express course.
In this lesson you will learn:
- What is a crypto wallet and how it works;
- What are the types of wallets and how to choose them;
- Why aren’t cryptocurrencies actually stored in wallets?
Complete the assignments:
Create your Trust Wallet account following the manual:
- Save your accesses and passwords in a safe place (preferably off the Internet or on paper)
- Write down your BTC wallet address for yourself.
Instructions for creating a Trust Wallet account:
- Download the app or go to the website
— Link to Android app;
— Link to browser extension download page;
- Launch the application and click «Create a new wallet»;
- Write down the SEED phrase in a safe place.
Explore a helpful reference material:
- https://trustwallet.com — Trust Wallet’s official website;
- https://www.bitaddress.org — service for creating paper BTC wallets.
let’s check your knowledge
1. A place to store crypto is:
- Crypto wallet
- Private key
2. How many words does a SEED phrase usually contain:
- 5 words
- 40 words
- 12 words
3. The financial agent is involved in:
- Custodial wallets
- Non-custodial wallets
- Both in custodial wallets and non-custodial wallets
4. Applications on a smartphone or PC are:
- Paper wallets
- Cold wallets
- Warm wallets
5. What wallet is the easiest to restore access to if passwords and seed phrases are lost?