Step 1: Wallet Creation

Step 1: Wallet Creation

Opening a wallet

  1. Find a browser extension

Look for Cardano wallet browser extensions in the Chrome Web Store or Firefox Add-ons. Some popular browser extension options are listed below;

  1. Install the browser extension

Once you have found a browser extension you would like to use, click on the "Add to Chrome" or "Add to Firefox" button to install it.

  1. Create a new wallet

After installing the browser extension, you will need to create a new wallet. This involves entering a password and creating a seed phrase. Make sure to keep this seed phrase in a safe and secure place.

  1. Backup your wallet

After creating your wallet, you will need to backup the seed phrase. This is important in case you lose access to your wallet or your computer crashes.

Receive and send ADA

  • Receive ADA To receive ADA, you'll need to share your wallet's address with the sender. This can be done by clicking on the browser extension icon, then on the "Receive" tab and then sharing the address of your wallet (usually starting with 'addr'.

  • Send ADA To send ADA, you'll click on the browser extension icon, then on the "Send" tab, enter the recipient's address, and then specify the amount of ADA you would like to send.

Keep in mind

  • Browser extensions do not have the same level of security as hardware wallets or software wallets installed on a personal computer, so you should always be careful when using them and not store large amounts of ADA in them.

What you need to know about wallets

  • A very brief overview. (Get in touch if you'd like to dig deeper!)

  • A digital wallet is an internet-enabled application you can use to do online purchases, money transfers, and bill payments using your computer or mobile.

Depending on which wallet you choose, information about whether or not you hold a digital wallet and have received or sent transactions may depend on several factors, such as the specific digital wallet you are using and the type of transactions you have made with it.

Each transaction on the Cardano blockchain is recorded on a block, and all blocks are linked together in a continuous chain. This makes it possible to trace the flow of funds from one Cardano wallet to another.

However, it’s important to note that while transactions on the Cardano blockchain are publicly visible, the parties' identities are typically not disclosed. Transactions are identified by a unique public key, a series of alphanumeric characters that can be used to track the movement of funds.

In general, the digital wallet technology sector, and specifically Cardano's wallet ecosystem is innovating quickly. New digital wallets will offer additional features; multiple addresses, privacy-enhancing protocols and more.

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