Crypto wallets are the place where all your digital coins are stored. However, unlike debit and credit cards, the Web 3.0 procedures are a little bit different. Having a digital wallet will “unlock” your opportunities to trade, invest, and store cryptocurrencies.
But that’s not all – It will also help you swap tokens, make purchases, and more. Without further ado, we’ll show you how to create a crypto wallet in a few steps and pick a good exchange to do so. Because it does matter.
What makes crypto wallets an alternative to traditional bank accounts?
You need a crypto wallet to store and manage your cryptocurrencies in a safe place. It’s your own “terminal” for sending, receiving, and holding crypto tokens like Bitcoin, Tethe, and Ethereum.
Digital wallets are “equipped” with private keys and employ top-tier security measures with the intention to keep your funds safe. The wallet also makes it easier to connect to a crypto exchange, so you use your funds for investments or everyday purchases, like booking a trip to Paris or even buying a new Tesla. Sounds awesome, huh?
But is it that hard to create a wallet? Let’s see in the next paragraph.
How to create a crypto wallet in 4 steps?
If you’re an industry newbie, you might not be aware of what to do to get it started. It may be hard on the surface, but in reality – it’s much easier than it looks.
Step 1: Pick a crypto wallet app. We selected Paybis, because it is a reliable cryptocurrency exchange, and the crypto wallet supports the most popular digital currencies, i.e., Bitcoin, Bitcoin Cash, Ethereum, Litecoin, Tether, among others.
Step 2: Enter your email address and wait for a One-Time Password (OTP) code to verify your email address.
Step 3: When you log into your account, click on “Add wallet” and pick any of the cryptocurrencies on the crypto exchange.
Step 4: You’re all set. You can use your wallet to pay bills whenever possible, invest in crypto, and even purchase new coins via Initial Coin Offerings (ICOs). The choice is all yours.
The best cryptocurrency exchanges on the market
For some, it’s a million-dollar question. For others, there’s a straight answer. Let’s see the best exchanges where you can swap your fiat money for crypto.
Are you looking for a user-friendly crypto exchange with an integrated wallet? Paybis is your top choice, especially if you’re new in the booming crypto space. The platform delivers an extraordinary UI and supports over 50 popular coins. Want to trade on the go? Paybis has dedicated iOS and Android apps for that.
Concerned about security? Rest easy. You get a private key for your wallet, and Paybis supports on-chain transactions. Paybis also uses 2FA and stores assets in secure underground facilities.
All in all, Paybis’ crypto exchange is what 80% of users will ever need – without the fuss, complex charts, etc., which can make it harder for Bitcoin newbies.
Another solid choice in the crypto exchange battlefield is OKX. We love OKX’s commitment to offering both a centralized (CEX) and decentralized exchange (DEX), giving investors options based on their preferences.
The platform strikes an amazing balance between functionalities and user-friendliness. While it mostly hits the mark, there’s still some room for improvement to make it an “all-rounder”. If you’re eyeing versatility in your trading and want a reliable name, OKX is worth your consideration.
It’d be criminal to compile a ranking of crypto exchanges without mentioning Binance. This powerhouse offers advanced features like smart charts and a plethora of staking options. Yet, it’s important to note that Binance has had its share of regulatory challenges, particularly with the SEC.
Memories of similar issues faced by FTX serve as a cautionary tale. Despite these concerns, if you prioritize a wide range of trading tools and staking options, Binance remains a formidable contender in the market.