At this moment recommend to use the following DeFi wallets, which are safer than any other browser based wallets: Trust Wallet and/or the very user-friendly Infinity Wallet (coming soon in another article).
How to set up and use Trust Wallet?
Trust Wallet is known for its ease of use, therefore, setting up and using it should not be a problem for anyone. For a smooth experience, follow the steps described below.
This isn’t like a bank account where someone holds your money for you and keeps it safe or unsafe for you, depending on the banker. And, it isn’t like a custodian crypto account where money isn’t in your control at all!
This is digital cash, and just like physical cash, keeping it safe is entirely your responsibility.
Perhaps, for the first time in your life, YOU are the Bankless Banker! It is your own bank, so you are in the full control of your money!
Go to App Store or Google Play and search for Trust Wallet. After finding the official app (click for iOS or click for Android), simply install it on your device.
Always download Trust wallet from official sources:
|After getting the Trust Wallet application, you must create your wallet.
If you already have a wallet and want to link it to this mobile device, all you have to do is open the app and press on “I already have a wallet” then proceed to follow their instructions.
If you are just getting started and want to create a new wallet, select “Create New Wallet” and agree to the terms and conditions.
|After that you will be asked to physically write down your 12-word recovery phrase. When you do so, click “Continue” and verify your recovery phrase. IMPORTANT: There is no way to change or recover your 12 word phrase if it’s lost or forgotten.
If you lose your recovery phrase you will lose your funds with it.
Trust Wallet is completely different from traditional bank accounts. You are the true owner of your “Money”, Trust Wallet can never access your coins.
It is technically not possible for us to recover wallets since we do not have access to your recovery phrase (only your 12 word recovery phrase can be used to restore access to your wallet).
Before you finish the step of creating the wallet, verify that you wrote down the 12 word phrase in the correct order, as shown bellow.
You’ll be redirected to the wallet main screen and you will see the default cryptocurrencies listed inside it. Press the button located on the top right corner and search for it.
Scroll down to the list of supported assets or do a name search of the coin or token. Then, use the toggles to add the coin or token.
Afterwards, go back to the main screen to see the newly added coin.
Insert/paste Reitis DeFi Token contract: 0x4376ba3a5bd82a1026f4a02869c54f80daeca300
After pasting or scanning the Contract Address, the other details like the Name, Symbol and Decimals will be automatically filled up. If not, fill them in manually. Tap on Save to continue.
Please make sure that the information is correct. The app will show incorrect balances if they are not properly filled.
You have successfully added a Custom Token. If the token is not yet listed on CoinMarketCap, the price information will not show up.
Trust Wallet Support Community:
Getting your money out of Trust Wallet is simple. First off, you should swap your tokens to BNB, ETH or other cryptocurrencies. Then, withdraw the ETH or BNB to a crypto exchange (Binance, Coinbase, etc.) that supports your fiat currency. After doing so, simply sell your BNB or ETH for fiat and follow the instructions given by the exchange.
Trust Wallet does not charge any fees other than network fees. This means that it is not responsible for the fees that come when you execute a transaction. The network fees of any cryptocurrency increase as the number of transactions increases. For example, the gas fees of Ethereum are way higher when there are more transactions being done. So, more transactions equal higher fees.
Cryptocurrency works by sending and receiving to cryptographic keys called addresses. A XREI token address is a big long string of letters and numbers, something like this: 0x442b449cbFc9F2BdaCb94D8c320Dd220b4Cf22D8.
If you give this address to someone, that person can send and receive money to it, but they can’t use it to take money out. It’s one-way only.
Now, modern-day wallets have an infinite number of addresses (like disposable, single-use addresses), and a new one is created every time you go to receive funds. People can still send you coins/tokens to old one, but you just probably shouldn’t use it.
So, you get an address from a friend, or from an invoice. Just copy and paste that address into your wallet, enter the amount, and hit “send”. Of course, the easiest way of doing this is by scanning a QR code, and that’s typically what you do with a mobile wallet: scan a QR code (which grabs the address that you otherwise would have manually copied and pasted), enter the amount, and send it. The exact steps are described on Reitis DeFi Pplatform on your cPanel.
Remember! Be careful and double-check when sending! Cryptocurrency transactions are one-way and permanent. If you send to the wrong address, you can’t get it back. Digital cash is just like physical cash: you hand it over, the transaction is finished, and if you made a mistake you have to work it out with the person who you paid (or who paid you).
That’s it for the basics of how to get and use a wallet.
NOW REMEMBER! This isn’t like a bank account where someone holds your money for you and keeps it safe or unsafe for you, depending on the banker. And, it isn’t like a custodian crypto account where money isn’t in your control at all!
This is digital cash, and just like physical (paper) cash, keeping it safe is entirely your responsibility to take care of your wallet!
Just like you wouldn’t show off your pocket wallet in public, or let strangers go digging through your pockets, or leave money out in the open on your desk, you must keep your crypto safe as well.
Keep your wallet’s pin and password-protected, practice good device security on your phone and computer and back your wallet up.
Alaways back up your wallet. Click on “backup” on any app, create a password, confirm it, and then HAND write down your recovery phrase, which is used to recover your funds if your computer or phone gets damaged, hacked, or stolen.
DO NOT take a screenshot of your seed words!
DO NOT copy and paste them!
DO NOT even type them out anywhere.
DO NOT let anyone see them over your shoulder.
Instead, write them out with a pen and paper. Get a booklet like the one in the image above. Store it in a safe place, somewhere no one will find it, but somewhere you remember. Also, once again, don’t lose your backup or forget your password or pin. No one can help you get them back! Be a responsible bankless banker!
Read more steps to protect your wallet here:
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