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Your First Crypto Wallet
1. Why You Need a Wallet
Exchanges like Binance lost $570 million in 2022 hacks (Chainalysis). A wallet gives you control—your keys, your crypto—without relying on third parties.
2. Hot vs. Cold Wallets
Hot wallets (e.g., MetaMask) are online, convenient, but hackable. Cold wallets (e.g., Ledger) are offline, secure, but less handy. Start with a hot wallet, then upgrade.
3. Setting Up a Hot Wallet
- Download MetaMask—browser extension or app.
- Click “Create Wallet,” set a strong password (12+ characters).
- Save your 12-word seed phrase offline—paper, not screenshots.
- Add funds via an exchange (e.g., Coinbase) by copying your wallet address.
4. First Transaction Tips
Send a tiny test amount (e.g., 0.001 ETH) first. Double-check addresses—scammers spoof them. Use a blockchain explorer (e.g., Etherscan) to verify.
5. BlockGuardian Protection
Paste addresses into BlockGuardian.xyz before sending—our tool flags fakes. Report scams via our form.
Extra Tips
- Use a unique password—not reused elsewhere.
- Backup your seed in two safe spots (e.g., home and a safe).
- Never share your seed—scammers ask for it.
6. Next Steps
Set up your wallet, then read Cold Storage Made Simple or return to Learn. See our whitepaper.