How to open a cryptocurrency wallet: a beginner's personal perspective

Damn, I'm so tired of these endless problems with banks! I finally decided to dive into the crypto world and create my first wallet. It turned out that it's not as difficult as it seems at first glance. I'll share my experience, without unnecessary terms and pompous phrases.

What types of wallets are there

At first, I didn't understand the difference between the types of wallets, but it turned out to be quite simple:

• Custodial — the simplest. Your money is stored with a mediator, that is, on the exchange. Convenient, but risky — remember the famous hacks and bankruptcies! Remember the rule: "not your keys — not your coins".

• Non-custodial — here you are the sole owner of your money. But if you lose your password or seed phrase — that's it, goodbye cryptocurrency! No one will help you recover access.

• Hardware — physical devices like flash drives. The safest, but they cost money and are not very convenient for everyday use.

How to Create a Simple Wallet

I started with a simple non-custodial wallet. Here's what I did:

1. Downloaded the Trust Wallet app from the official website ( be careful — there are a lot of fakes! )

2. Clicked "Create a new wallet"

3. Come up with a password (use a complex one!)

4. I wrote down the seed phrase of 12 words on paper and hid it. This is CRITICALLY important! Without it, you will lose everything in case of a phone failure.

5. Replenished the wallet by transferring coins from the exchange

The whole process took about 15 minutes, and I could already send and receive cryptocurrency!

Hardware wallet — for serious amounts

When my savings grew, I thought about greater security. I bought a Ledger Nano (, not the cheapest, but reliable ). The setup turned out to be quite simple:

1. Connected the device to the computer
2. Set the PIN code
3. I wrote down the recovery phrase ( again 24 words that need to be kept secret!)
4. Transferred the main part of the crypto world here

Now I feel much calmer — even if my computer gets hacked, the money will remain safe.

What I understood from my experience

The most difficult thing in the crypto world is not the technology, but the responsibility. You are responsible for your own money; no one will return it in case of a mistake. So don't be lazy to make backups of your passwords and seed phrases!

And also — do not trust large sums to online wallets. A hardware solution is much safer for serious savings.

By the way, many exchanges offer their wallets with additional security, like multi-signature. They are convenient for beginners, but I wouldn't recommend putting all your eggs in one basket.

The main rule is to start small, understand how everything works, and only then move on to serious operations!