How to open a Crypto Wallet

A cryptocurrency wallet is a software program that stores your private and public keys, enabling you to send and receive coins through the blockchain, as well as monitoring your balance.

You can find cryptocurrency wallets via web browsers, downloadable on smartphone app stores or for purchase in the form of hardware devices from online stores.

Let's see how to open some of them.

MyEtherWallet Web Browser

1. Go to myetherwallet.com from your web browser.
2. Confirm you are on the right url site https://www.myetherwallet.com/
3. Under the main Menu, go to ‘New Wallet’ to create a new wallet
4. An entry field will prompt you for a password
5. Enter a strong password and click on ‘Create New Wallet’
6. Remember to write it down and store it safely. Preferably, somewhere you can easily retrieve it
7. Next step is to download your Keystore/json file. Store it safely, do not lose it and do not share it
8. The final step will lead you to your private key. Save it and download a paper wallet of your key
9. It's really important to store your private key safely, do not lose it and do not share it.

From now on, whenever you need to access your wallet, you will access https://www.myetherwallet.com/, click on ‘Send Ether & Tokens’ on the main Menu and use your private key to log in.

ImToken Mobile Wallet

Mobile wallets resemble all the apps we use today on our smartphones whether on iOS or Android. IMtoken is one of the best lightweight wallets that supports multi-tokens.

IMtoken is downloadable on both Android and iOS

1. Visit the android play store or apple store
2. Search for the official ‘ImToken — Ethereum wallet’ by ConsensLabs co, ltd.
3. Download, install, launch the app and read over the terms of service before confirming
4. A quick step by step visual guide will walk you through how to use the app
5. A follow-up prompt will request you to create a wallet and assign it a name
6. Next, set a secure password and confirm it. Store it safely, do not lose it and do not share it
7. Once created, it’s important to backup your wallet. Store it safely, do not lose it and do not share it
8. You cannot recover your password and back up if you lose them, keep them safe

IMtokens’ user-friendly interface is ideal for beginners and investors looking to take part in the token sales. If you are looking to participate in the CrowdWiz ICO, the app has a quick step-by-step guide on how to participate via the interface.

MyTrezor Hardware wallets

Hardware wallets are straight off the shelf ready to use cryptocurrency wallets. You can order one online from the manufacturers or vendors on Amazon and eBay.

Your package will arrive with a silver seal.

1. Confirm the seal is intact
2. Next, unpackage the trezor and use the USB extension cable to plug it into your computer
3. Install a Trezor google app extension on your Chrome browser and follow the instructions
4. A prompt will request you to set up a 4 digit PIN. Store it safely, do not lose it and do not share it
5. The next step is a master backup of your wallet, write down the 24-word phrase somewhere safe
6. Preferably on different papers that you can store in different locations. Store it safely, do not lose it and do not share it
7. You can now visit Mytrezor.com to access the Bitcoin Trezor Client for set up
8. As soon as you are set up, visit https://www.myetherwallet.com/, click on ‘Send Ether & Tokens’ on the main Menu and select ‘Trezor’ to access your wallet.