What is a Wallet Address and How Do You Get One
A wallet address is series of characters that is unique to a wallet that stores crypto and NFTs. Here's how to make one and keep it secure.
A wallet address is series of characters that is unique to a wallet that stores crypto and NFTs. Here's how to make one and keep it secure.
Cryptocurrencies, NFTs, and other blockchain assets are a new frontier that provide exciting opportunities for buying, selling, trading and investing.
To get started, you’ll need a wallet address to receive and store blockchain assets. This beginner-level guide discusses what a wallet address is and how to create one.
What is a wallet address?
How do I create a wallet address to store an NFT?
Tips for managing your wallet ad
A wallet address, also known as a public key, is a string of 25-40 characters that identifies the wallet on the block chain, where you can store cryptocurrency and NFTs.
If you think of your crypto wallet as a bank account, then the wallet address is like the account number that identifies it as belonging to you. And if your wallet address (aka public key) is like your account number, then your private key is like your password or pin number that proves ownership and provides access to the account.
To make them secure, private keys are much longer and more complex than a four-digit ATM pin. In fact, they are more like a series of 40 four-digit ATM pins using numbers and letters.
Your public wallet address can be shared in order to receive crypto and NFT assets, like how you would share your bank account number with an employer to set up direct deposit.
But your private keys SHOULD NOT be shared as they provide access to the assets in your wallet.
Creating a crypto wallet address to store an NFT is quick and easy. Just follow the steps below.
Hint: Grab a pen and paper, because there are a few codes you’ll want to manually record.
Now, Coinbase is great for trading cryptocurrency, but OpenSea is geared for NFTs. So the next step is to link your Coinbase Wallet to OpenSea.
(Hint: Don’t look too hard for a sign up or log in feature, as they don’t exist. Connecting your wallet creates a profile.)
You now have a 40-some character public wallet address that you can use to receive and share NFTs!
Like a real wallet or a bank account, you’ll want to keep your crypto wallet secure.
Remember, it’s okay to share your public wallet address. In fact, that’s how you receive assets. However, you should keep your passwords and private keys as safe as possible.
Here are some tips for keeping your crypto wallet secure:
Once you have a crypto wallet set up and a plan to secure it, you are ready to invest in and store assets on the blockchain!
The information in this article does not constitute financial planning advice. Please consult a financial planner regarding your specific situation.