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Wallet Setup

https://www.loom.com/share/dbf7ab2ede66401396d6fe30f07154af

Introduction​

Public blockchains like Ethereum are the next evolution of Internet. To access the new world you need the right tools.

Web3 wallets are more than just wallets that hold digital monetary value. Currency binds communities together and with your Web 3 wallet you can crowdsource projects, publish art, writings and other media, or invest in other people’s creations.

Your wallet connects you to new applications and allows you to truly own your data and identity. This guide will walk you through creating your first Web 3 wallet.

Prerequisites​

  • None!

What You’ll Do​

  • Wallet Setup
    • Option 1: MetaMask Desktop Extension
    • Option 2: Rainbow Wallet
  • How to acquire ETH
    • Real ETH vs. Faucet ETH
      • Faucet Goerli
    • Buying ETH directly from your Wallet Provider
    • Buying ETH from a Centralized Exchange
    • Using your ETH address anytime you are sent ETH
  • Gas Fees
    • What are gas fees?

TUTORIAL​

Option 1: MetaMask​

  • Desktop

    Download/Install the MetaMask extension from your browser

    img img img

    Click on the “Get Started” button

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    Select “Create a Wallet” and create a password

![img](https://github.com/public-assembly/public-assembly-docs/blob/main/static/imgs/wallet-setup-assets/metamask/05.png)

![img](https://github.com/public-assembly/public-assembly-docs/blob/main/static/imgs/wallet-setup-assets/metamask/06.png)

Write down your 12 word phrase. 

![img](https://github.com/public-assembly/public-assembly-docs/blob/main/static/imgs/wallet-setup-assets/metamask/07.png)

Your *12 Word* **Secret Backup Phrase** backs up your account.

    Without this phrase, you can't restore your MetaMask account or login into it on another device.
    Consider storing these words in a password manager, or downloading a file containing the phrase to a secure external disk.


*(Do not store this on your desktop.  If someone steals, hacks, or finds your computer, they may access your MetaMask wallet.)*

![img](https://github.com/public-assembly/public-assembly-docs/blob/main/static/imgs/wallet-setup-assets/metamask/09.png)

**Confirm** your **Secret Backup Phrase** to ensure you have it correct when asked.

*This ensures you have the right phrase for account restoration*

**Click** "Done" after verifying your **Secret Backup Phrase**.

---

Welcome to your first Web3 wallet. At the top under the name Account 1 you will be able to copy your ETH address anywhere you need to when sending transactions on the blockchain 

![img](https://github.com/public-assembly/public-assembly-docs/blob/main/static/imgs/wallet-setup-assets/metamask/11.png)

Option 2: Rainbow Wallet​

  • What is Rainbow Wallet?

    • Rainbow Wallet is a mobile only web3/crypto wallet application for Android and iOS that supports Ethereum

  • Get Started with Rainbow

How to Acquire ETH​

Faucet ETH​

https://www.loom.com/share/4b531d956249439f922ad815f78c6b01

Click the top right of the screen where it says Ethereum mainnet and then click show/hide test networks, this will take you to the settings panel where you will be able to toggle test networks.

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After your test networks have been enables click where it says Ethereum mainet again and select Goerli test network from the options

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  • How to get Testnet ETH for MetaMask development.

    • Register or Sign In if you’re already building on Alchemy.

      img

    • Copy/Paste your wallet address or ENS domain

      img

    • Click Send Me ETH

    • Upon exiting the popup, a transaction hash should now be visible in the ‘Your Transactions’ table.

      img

    • Click on the transaction hash to view it’s details

      - (Like how much Goerli ETH you received from the Goerli testnet faucet, and what the Txns gas price was)

      In MetaMask
      img

      img

    • If you wish to browse all transactions on the Goerli network, you can do so on this Goerli testnet explorer.

      img

    • With Goerli ETH funds in your wallet, you can now connect to the Goerli Testnet and start using your ETH to test your smart contracts!

Buying ETH directly from your wallet provider​

https://www.loom.com/share/c9cb27fe541f46359bf2bc45680a95fc

Click "Buy" in your MetaMask and it should take you to this pop up.

Here you will see different options on how to smoothly upload ETH into your wallet but the most important thing is that there are direct ways to upload eth through debit card or credit card.

Depending on your method, you may need to provide ID so please choose at your discretion

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You are also able to pay with credit or debit card directly in the app

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Buying ETH from a Centralized Exchange​

A centralized crypto exchange is one that's created and run by a company. These exchanges are considered centralized because one company oversees all the transactions and sets the exchange's rules and fees.

Refer back to earlier in this guide. you are able to deposit eth directy from your coinbase wallet. or use your wallet address to send eth through the mobile UI of coinbase or crypto.com

Gas Fees​

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Gas is the unit of measure for how much computational work is required to process transactions. Fees charged when moving funds on the Ethereum blockchain network. Gas fees are used to compensate Ethereum miners for their work in verifying transactions and securing the network. All users must pay in order to perform any function on the Ethereum blockchain.

Further Resources​

What is MetaMask? | MetaMask

Get Started with Rainbow | Rainbow

Wallet Security and Scam Safety 101 | Coinbase