If you’ve ever made your first wallet on Bitcointalk, you know that you’re missing out on some great features that a crypto wallet has to offer.
You can’t just store money in the wallet, but instead have a set of services that let you manage your funds.
For example, the wallet lets you manage the money you hold in your wallet, manage your balance, and keep track of all the transactions you make.
You could even use the wallet to send money around the world, like in bitcoin.
There are a ton of different types of crypto wallets out there, but the main ones we recommend are the ones that are easy to set up and use.
If you have no idea how to set one up, here are our top five tips on how to start using a crypto-wallet.
Tip #1: Know your crypto wallet wallet IDIf you don’t know the wallet ID (or its description) of your crypto-Wallet, it might be difficult to navigate through the settings of the wallet.
The wallet ID is a unique string of letters and numbers, typically between 6-12 characters long.
The Bitcoin address for your wallet is usually the first one in the string, so it’s easier to figure out what you’re getting.
Tip 2: Set up a dedicated browser window to store your crypto coinsYou can use the Chrome extension Bitcoin Explorer to do this.
Just open up the Bitcoin Explorer window on your Mac, and hit the button in the top right to open up Bitcoin Explorer.
The Chrome extension will take you to a new tab, where you’ll see a Bitcoin address that you can input.
Tap it to open a new Bitcoin wallet.
Tip 3: Set the time to be the first transactionYou can set the time when you want to start a new transaction to be automatically generated when you first open up your wallet.
Once you’ve set that up, you can always go back and change it whenever you want.
Tip 4: Check your balance and transaction historyThe best way to ensure that your crypto funds are safe is to keep track and record your transactions.
To do this, you’ll want to use a Bitcoin wallet to store the funds in a secure location.
This is why it’s important to set a Bitcoin-only wallet for your crypto coin.
Tip 5: Set your balance to be public You don’t want to have your wallet balance in a public location.
Instead, you want your balance public.
In the Chrome Extension Bitcoin Explorer, just click on the “Edit” button to go to the settings for your Bitcoin Wallet.
Tip 6: Set a wallet expiration date to be midnight Pacific Time (PDT)The Bitcoin wallet expiration dates for a Bitcoin user account are typically set by the Bitcoin developer.
To set a date to expire, just type in the date in the drop-down menu on the top of the Bitcoin Wallet window, hit “Edit,” and then hit “Set.”
Tip 7: Set an expiration date for your private keysYou can also set an expiration time for your keys to be set.
To change your keys, just add them to the list of keys that you want by typing them into the “Add to Wallet” menu.
Tip 8: Set Bitcoin address to be a random stringOf course, you’re not limited to just using Bitcoin.
You’ll also want to set your private key to be one of a handful of different cryptocurrencies.
The easiest way to do that is to use the Bitcoin app to sign up with your Coinbase account.
Once your account is created, you will need to add your private and public keys.
Tip 9: Set expiration date on your coinWalletTo keep your coins safe, you should set an expiry date on the coinWallet to be at least midnight Pacific time (PDH).
The coinWallet expires every hour, so your coins should be safe from any bad actors.
Tip 10: Create a backup copy of your walletIf you’re going to lose your crypto and need to get it back to your computer, there’s one last step you can take.
Tip 11: Restore your privatekeyOnce you’ve made your private wallet public, you need to make it available to anyone who wants to sign you up for your coins.
Tip 12: Backup your privateKey and coinsTo backup your privateKeys and coins, simply copy them to a safe place and save them in the same folder where you backup your Bitcoin wallet and your coins wallet.
You should have both the private and the coins wallet backup already, and you can just copy the private keys to the private wallet.
Tip 13: Restore wallet from backupTo restore your privateWallet from a backup, simply use the Backup app to open the backup folder in the Chrome Extensions Bitcoin Explorer and copy your private private key and coins wallet to the backup.
Tip 14: Set wallet expiration to be 1 dayAfter you’ve restored your private Wallet, you still have one more step to take.
To restore your coins to your wallet in a new folder