Yes, it is essential to know the right ways to buy and sell the crypto assets. But it is also necessary to have a secure wallet that can keep all your crypto assets securely.
Just like keeping all your money on the palm of your hand and walking down the street can be too risky. In the same way, keeping all your Crypto assets in the digital exchange platform be risky. And you might lose all your assets as well.
With the possibility mentioned above, it becomes imperative to have a secure wallet that can keep your crypto asset safe from fraudulent activities.
In this article, you will get to know how you can create your own Crypto wallet and what are actionable tips that you can use to secure your wallets.
What are crypto wallets?
Before we start with all the creating your own digital wallet thing, you first need to know what crypto wallets are and how they work.
Crypto wallets are the digital wallets where you can keep all your Crypto assets under the protection of private keys. You can even initiate Crypto exchanges with the help of these wallets.
As you can see that a crypto wallet gives you total control of your crypto assets, hence, it becomes s very important that you have a secure wallet.
How to create a Crypto wallet?
Now a question arises, how can you create a Crypto wallet? The answer is simple, and you can create one from any browser.
Let’s what are the step that is needed to create your own secure Crypto wallet. The steps are pretty simple. If you have ever signed in a Gmail id, setting up your wallet will not be that hard. It will take only a couple of minutes at best.
Step 1: First, visit a platform that offers Crypto wallet services. If you do not have any platform, then you can use bitcoins digital. It will redirect you to a reputable platform, from where you can have your first Crypto wallet.
Step 2: Once you have accessed the site, go to the main menu, and find a “New Wallet” option. Click that to initiate the creation of your new wallet.
Step 3: Once you have entered the new wallet section, a new window will appear to ask you to give a password. You can provide any password you like and can go to the next phase of wallet creation.
Step 4: Make sure to use a strong password, strong enough that hackers will have a hard time decoding it. And yes, store the password in a safe place in case you forget. Remember, if the password is lost, you will not be able to back your crypto assets back.
Step 5: The next crucial step is to download the keystone/JSON file. Just like the password, make sure to store it safely and never share it with anyone.
Step 6: In the next level, you will be redirected to your private keys. Private keys are also needed to be downloaded and need to be stored in a safe place. Just like the password and file, never share your keys as well.
Step 7: Once you have got your private key, you have successfully created your wallet.
Now that you have created your Crypto wallet, the next time you will access your wallet, you need to log in with your private keys.
How to secure your assets in a wallet?
After creating the wallet, your job is half done. The next half is to secure your asset in your wallet. How is it done? Given below are the tips that you can implement to secure your wallets and your assets.
● Keep your private keys and password safe
Your password and keys are important if someone gets hold of your keys, you can say goodbye to your assets and money forever.
● Enable two-step verifications
You can have two-factor verification for the login process. This will surely boost your Crypto wallet security.
● Diversify your risks
Stop storing all your assets in one Crypto wallet. Start using several wallets to diversify your risks. This way, you can restrict yourself from risking all your assets.