The Beginner's Guide to Crypto Wallets (EN)

(ToT)verse is launching a series of educational articles about cryptocurrencies for beginners in conjunction with priv.eth.

Priv.eth is an educational project curated by our expert cryptocholy, focused on onboarding beginners to Web3. For a simpler immersion in information, we have supplemented and decorated all the articles in our ToT-style. The first article is a complete guide on how to interact with most popular crypto wallets: Metamask and Trust Wallet.

MetaMask guide

Description: MetaMask is a programmed cryptocurrency wallet used for interaction with blockchains based on EVM architecture. MetaMask is developed by ConsesSys Software Inc., developer company for blockchain software, which specializes on Ethereum-based tools and infrastructure. The founder of ConsenSys is also a co-founder of Ethereum.

Setup:

1. Go to official MeteMask website

2. Click “Download” in the upper-right corner

3. Click “Install MetaMask for [Your Browser]” in the opened window

4. You will be redirected to the MetaMask page of your browser's app store, where you install MetaMask extension.

Creating a wallet:

1. Click on MetaMask icon in extension panel of your browser.

2. Welcome page would open. Simply click “Start now”

3. Selection window would appear. If you had a crypto wallet before, click “Import wallet”. In our case, we should click “ Create wallet”.

4. Then you confirm that you agree to processing your data by clicking “I agree”

5. In the next window you set the password which you would use to access your wallet. This password only works in browser where Metamask in installed and isn't bound to your private passwords. If the password is lost, you can recover it via seed-phrase.

6. You'll be shown wallet usage safety video.

7. Then you will be shown your secret recover phrase (seed-phrase). It's mandatory to save it and to never lose. Without it you won't be able to access your funds.

Using wallet

1. Your coin balance of network which is currently selected in your wallet.

2. Tab with all of your coins and tokens

3. Name and address of your wallet.

4. Here you can buy cryptocurrency with third party services.

5. This menu allows you to send cryptocurrency to another wallet.

6. Here you can exchange cryptocurrency without leaving wallet interface.

7. This tab contains all of your wallet's activity. Replenishments, transfers, signs and other blockchain actions.

8. Balance of specific coin and its USD equivalent.

9. Here you can add new tokens to your wallet.

10. Managing available blockchain networks.

Trust Wallet guide

Description: Trust Wallet serves as safe and decentralized opensource crypto wallet. It allows access to over 20000 tokens which are developed on Ethereum and compactible with EVM and 63 more blockchains.

Trust Wallet wallet was launched in November 2017 by ukrainian developer Viktor Radchenko and instantly gained a large user base. In 2018 it was bought by Binance network In the beginning of 2021 ex-vice-president of marketing at Binance Eowyn Chen took the post of CEO of Trust Wallet.