Day 3 – Setting Up Your Wallet



Great job completing Day 2! Now that you understand the power of blockchain, it’s time to take the next step – creating your own crypto wallet.

A wallet is where you store, send, and receive cryptocurrency safely. Without it, you can't trade, invest, or hold your coins.

🔹 What is a Crypto Wallet?

A crypto wallet is a tool that helps you interact with the blockchain. It stores your public key (like your account number) and private key (like a password that gives you access to your funds).

There are different types of wallets depending on how you want to use them.

🔹 Types of Wallets

  1. Software Wallets (Hot Wallets)
    Apps on your phone or computer that are always connected to the internet.
    ▶ Example: MetaMask, Trust Wallet, Coinbase Wallet.
    ✅ Easy to use, perfect for beginners.

  2. Hardware Wallets (Cold Wallets)
    Physical devices that store your keys offline.
    ▶ Example: Ledger, Trezor.
    ✅ Extremely secure for storing large amounts of crypto.

  3. Paper Wallets
    A printed piece of paper with your keys written down.
    ✅ Offline but risky if lost or damaged.

🔹 Why Security Matters

If you lose your private key, you lose access to your cryptocurrency forever. Similarly, if someone steals it, they can access and steal your funds.

Important security tips:
✔ Never share your private key with anyone.
✔ Use two-factor authentication (2FA) when available.
✔ Back up your wallet in a safe place.

🔹 How to Create a Wallet (Example Using MetaMask)

  1. Download the MetaMask app from the official website or app store.

  2. Click “Create a Wallet.”

  3. Create a strong password.

  4. You will see a seed phrase (12 or 24 words).
    ➤ Write it down carefully and store it safely.

  5. Confirm the seed phrase to complete setup.

  6. Your wallet is ready!

You can now send, receive, and check your crypto assets.

🔹 Example Use Case

Rohit creates a MetaMask wallet. He stores his seed phrase in a locked diary at home.
Now, whenever he wants to buy ETH or trade NFTs, he can connect his wallet to the platform securely.

✅ Day 3 Task

  1. Choose a wallet to set up. MetaMask or Trust Wallet is recommended for beginners.

  2. Install it and create your account.

  3. Write down your seed phrase on paper and keep it safe (never online or on your phone).

  4. Explore the wallet interface and see how to send and receive cryptocurrency.