Create wallet
Last updated
Last updated
1. Navigate to the "Trade" Section
look for the "Trade" section in the main menu. This is where the process of creating a new wallet will begin.
2. Select "Create Wallet"
In the "Trade" section, you will see the option to "Create Wallet." Click on this option to initiate the creation of your new wallet. This will guide you through the necessary steps to set up your wallet.
3. Private Key Generation
After selecting "Create Wallet," the wallet application will automatically generate your private key.
What is a Private Key? The private key is a secret, alphanumeric string that gives you complete access to your wallet and the funds stored within it. This key is unique to your wallet and is the most critical element for securing your assets.
Why is it Important? The private key is essentially the "master key" to your wallet. Anyone who has access to your private key can access your funds, transfer assets, and control your wallet completely.
Never share your private key with anyone.
If you lose your private key or if it's stolen, you will permanently lose access to your wallet and its contents—there is no way to recover a lost private key.
Store it securely: Write down your private key on paper or store it in a secure, offline location (e.g., a safe, a hardware wallet, or a secure vault). Do not store it digitally or online (e.g., email, cloud storage, or screenshots).
4. Securely Store the Private Key and Acknowledge the Prompt
Once the private key is displayed, immediately write it down and store it in a safe place.
After you have securely stored your private key, return to the wallet application and acknowledge that you have saved it. You will typically be asked to confirm that you understand the importance of the key and have securely stored it. This step ensures that you are aware of the critical role of the private key in accessing your wallet.
5. Export the 12-Word Seed Phrase
Next, go to your wallet's settings. There, you will find an option to Export your backup.
What is the 12-Word Seed Phrase? The seed phrase is a human-readable backup of your private key. It consists of 12 randomly generated words that can be used to recover your wallet in case you lose access to your device or private key.
This phrase acts as a recovery tool—if you ever forget your password or lose your device, the seed phrase allows you to restore your wallet and funds on another device.
Why is the Seed Phrase Important? Like your private key, the seed phrase is extremely important for accessing and recovering your wallet. Without the seed phrase, you may not be able to recover your wallet if your private key is lost or your device malfunctions.
Never share the seed phrase with anyone. Treat it like your private key.
Store the seed phrase securely: Write it down and keep it in a safe, offline location (e.g., a secure safe, safety deposit box, or paper storage). Never store it digitally or online to avoid the risk of it being hacked or stolen.
6. Finalizing the Setup
After you’ve written down and securely stored your 12-word seed phrase your wallet is fully set up and you can begin using it to send, receive, and trade cryptocurrencies.
Never share your private key or seed phrase with anyone, ever. AssetDash will never ask for your seed phrase or private key.
Do not store them digitally: For security reasons, avoid storing your private key or seed phrase on your computer, phone, or online cloud services.
Write them down: The best practice is to write both the private key and seed phrase down on paper and store them in multiple secure, offline locations.
Note: AssetDash does not have access to your private key or seed phrase. These details are only accessible by you, and if you lose them, you risk losing access to your funds permanently. Always store them securely offline.
