{"id":13616,"date":"2023-02-20T14:15:24","date_gmt":"2023-02-20T14:15:24","guid":{"rendered":"https:\/\/nftportal.se\/?p=13616"},"modified":"2023-05-04T19:05:57","modified_gmt":"2023-05-04T19:05:57","slug":"kryptoplanbok-guide","status":"publish","type":"post","link":"https:\/\/nftportal.se\/en\/guides\/crypto-wallet-guide\/","title":{"rendered":"Crypto wallet guide"},"content":{"rendered":"

Ledger's security combined with MetaMask's ease of use<\/strong><\/h2>\n\n\n\n

In this crypto wallet guide, we go through how to set up a MetaMask wallet, set up a Ledger hardware wallet, and connect Ledger to MetaMask. This setup gives you via MetaMask access to all decentralized applications<\/a> on Ethereum, such as NFT marketplaces<\/a>, while the connection with Ledger provides an extra layer of security for your NFTs and cryptocurrencies.<\/p>\n\n\n\n

What is MetaMask?<\/strong><\/h3>\n\n\n
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\"MetaMask<\/figure>\n<\/div>\n\n\n

MetaMask is the most popular crypto wallet<\/a> on the blockchain Ethereum<\/a> which allows you to manage NFTs and cryptocurrencies on the blockchain. Unlike a bank or a centralized wallet, MetaMask does not control your assets or your transactions. As long as you keep your wallet safe and only you have control of your private keys<\/a> you are the one in full control of your assets. MetaMask also provides an interface that is connected to the Internet to enable functions on websites. Being connected to the internet makes it more vulnerable to hacker attacks, compared to a hardware wallet like Ledger.<\/p>\n\n\n\n

What is Ledger? <\/h3>\n\n\n
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\"Ledger<\/figure>\n<\/div>\n\n\n

A Ledger hardware wallet<\/a>, combined with the Ledger Live app, is one of the best options for keeping your NFTs and crypto safe. The hardware wallet keeps your private key protected at all times, in a certified chip. No one can access the private keys except you. All transactions must be verified on the device's display and physically be confirmed by you as the owner. Even if you transact with the hardware wallet, the wallet confirms the transactions in an offline environment. This set up keeps your private keys away from the risks of being connected to the internet, at all times.<\/p>\n\n\n\n

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Guide to get started with your MetaMask wallet<\/strong><\/h2>\n<\/div><\/div>\n\n\n\n

Step 1: Download MetaMask<\/strong><\/h4>\n\n\n
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\"Download<\/figure>\n<\/div>\n\n\n

Start by heading to MetaMask.io<\/a> and click 'Download'.<\/p>\n\n\n\n

MetaMask is compatible with Chrome, Firefox, Brave and Edge browsers where Chrome or Firefox is recommended. In this guide we use Chrome.<\/p>\n\n\n\n

Step 2: Install MetaMask<\/strong><\/h4>\n\n\n
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\"Install<\/figure>\n<\/div>\n\n\n

Click 'Install MetaMask for Chrome' which will take you to MetaMask's Chrome application page. Make sure you are on the official website by checking the verification symbol of the application, the number of reviews and the number of downloads.<\/p>\n\n\n\n

Step 3: Add MetaMask<\/strong><\/h4>\n\n\n
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\"Add<\/figure>\n<\/div>\n\n\n

Click 'Add to Chrome' which results in a pop-up window, 'Add MetaMask', appearing. Click 'Add extension'. Then attach the MetaMask extension to your browser.<\/p>\n\n\n

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\"Add<\/figure>\n<\/div>\n\n\n

Step 4: Get started<\/strong><\/h4>\n\n\n
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\"Get<\/figure>\n<\/div>\n\n\n

A new window opens where you click 'Get started'.<\/p>\n\n\n\n

Step 5: Create a new crypto wallet<\/strong><\/h4>\n\n\n
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\"New<\/figure>\n<\/div>\n\n\n

To create a new crypto wallet, click 'Yes, let's get set up!' and then 'Create new wallet'.<\/p>\n\n\n\n

Step 6: Agree to collect user data or not<\/strong><\/h4>\n\n\n
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\"MetaMask<\/figure>\n<\/div>\n\n\n

MetaMask asks if they can collect your user data. If you accept, click 'I agree'. If not, click 'No thanks'. Not accepting does not affect your ability to proceed in the installation process.<\/strong><\/p>\n\n\n\n

Step 7: Create a secure password<\/strong><\/h4>\n\n\n
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\"Set<\/figure>\n<\/div>\n\n\n

Create a long, secure password that you don't use for other accounts. Then confirm your password and agree to the terms. You will be using the password to log into your MetaMask wallet.<\/p>\n\n\n\n

Step 8: Information video<\/strong><\/h4>\n\n\n
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\"MetaMask<\/figure>\n<\/div>\n\n\n

Now it's time to watch a short video explaining what a 'Secret Recovery Phrase' is, also called 'seed phrase'. You will also receive information on how to keep your crypto wallet safe. Then click 'Next'.<\/p>\n\n\n\n

Step 9: Reveal your seed phrase<\/strong><\/h4>\n\n\n
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\"Reveal<\/figure>\n<\/div>\n\n\n

During the process of creating your crypto wallet, MetaMask assigns you a seed phrase, a recovery phrase for the wallet. A seed phrase is a series of words that rarely will be used but can be likened to the keys unlocking your crypto wallet. <\/p>\n\n\n\n

Never share your seed phrase with anyone, ever!<\/strong> If someone gets access to your seed phrase, they can access all the assets your wallet gives you access to. Additionally, never store your seed phrase digitally!<\/strong> Write down your seed phrase physically, in the correct chronological order before you click 'Next'.<\/p>\n\n\n\n

Step 10: Confirm your seed phrase<\/strong><\/h4>\n\n\n
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\"Confirm<\/figure>\n<\/div>\n\n\n

Confirm your seed phrase by clicking on the words in the correct chronological order before clicking 'Confirm'.<\/p>\n\n\n\n

Step 11: Congratulations \u2013 you have now created a MetaMask wallet<\/strong><\/h4>\n\n\n
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\"MetaMask<\/figure>\n<\/div>\n\n\n

Click on 'All done'. Now that your MetaMask crypto wallet is created, you can interact with decentralized applications (dApps) such as NFT marketplaces. However, to buy an NFT you first need to buy cryptocurrency. Check out our guide to buying your first NFT here<\/a> for further guidance.<\/p>\n\n\n\n

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Guide to set up your Ledger wallet<\/strong><\/h2>\n\n\n\n

To follow the step by step guide below, you need to have purchased a hardware wallet from ledger.com\/start<\/a> and have downloaded and installed the Ledger Live application on your computer. Instructions for this come with the package your hardware wallet is delivered in. In this guide we use Ledger Nano X<\/a>.<\/p>\n\n\n\n

Step 1: Get started with your Ledger wallet<\/strong><\/h4>\n\n\n
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\"Ledger<\/figure>\n<\/div>\n\n\n