<aside> 💡 If you followed the workshop with Anna on how to set up a wallet, here are the written versions of each module for your own learning:
NFTs 101 How to Set Up a Wallet
And here is the video recording of the session.
</aside>
Think of a crypto wallet just like the wallet you put in your pocket, only digitally; it’s a secure place where you can store and hold cryptocurrencies and NFT.
There are also two types of wallets: the cold and the hot one.
❄️ Cold Wallet: are similar to a safe or a vault; they are typically hardware devices, like a USB flash drive, and store your tokens off-line.
☀️ Hot Wallet: these are like normal wallets that we use for day-to-day purchases. These wallets typically live on your phone or on your computer in the form of an application.
In our case, we’ll discover how to set up a hot wallet.
First of all, you’ll need to choose a wallet to begin with. There is currently a large selection of wallets on the market, and most of them can support hundreds or even thousands of cryptocurrencies and NFT’s. If you’re struggling for choice, ask yourself these 3 questions:
Each wallet has different capabilities, and you need to make sure you pick the right one for you. However, we will be showing you how to use the Metamask wallet, which is the most common wallet for the Ethereum blockchain.