Creating a New Wallet
The steps for creating your first Multi-Coin Wallet is very simple and can be done in a matter of minutes. Let me guide you through the process.
Important!
Download Trust Wallet 6.0k only from official sources.
Here are the download links for both platforms:
App Store: https://apps.apple.com/app/trust-ethereum-wallet/id1288339409 6.4k
Google Play: https://play.google.com/store/apps/details?id=com.wallet.crypto.trustapp 8.1k
Step 1 - Launch Trust Wallet
Upon first launch of the app, you will be presented with the screen below which is the part where you can “Create a New Wallet” or “Import” an existing one. For this guide, we will select on Create a New Wallet.
Step 2 - Accept Terms of Usage
In order to proceed, you would need to accept the Terms of Usage. Simply put a check mark at the box then press on Continue. No turning back now.
Warning!
If you agree to to the terms of usage please be aware that, losing your recovery phrases will also mean that you lose access to your wallet.
Step 3 - Save your Recovery Phrase
This is the most important part of your crypto journey. You need to take note of your recovery seed phrases. Your recovery phrases are the keys to your crypto wallet. So make sure to keep them in a safe place. Tap on Continue to proceed.
Note
This is a real recovery phrase for an actual multi-coin wallet.
Does it contain anything? We will never know.
Step 4 - Verify your Recovery Phrase
If you followed Step 3 and backed up your recovery phrase, this will be a breeze.
In the correct order, select the words in order to complete the verification process. Click Continue when you are finished.
Step 5 - Wallet is Ready
After going through the backup and verification process you will be redirected to the main wallet screen. You will see an initial list of coins that you can start funding right away. Congratulations!
Personalize Your Wallet
You can set the name of your wallet so that you can easily recognize it. This change is only a local setting on the app and can be changed at any time.
Go to the Settings menu, then tap on Wallets.
Next, tap on the i symbol beside the wallet that you want to personalize. Save it and you are done.
Note:
Also on the same screen, you will see Show Recovery Phrase. You can always go back here if you want to get your recovery phrases.
Can I Create Multiple Wallets?
There is a limit of 15 wallets that you can create on the app. Here are the steps to do so.
Open Trust Wallet and then tap on Settings . In the Settings screen, tap on Wallets .
Tap on the “+” sign on the upper right to access the Create/Import a Wallet Screen. Go back to Step 1 of this guide to create a new wallet.
FAQs
To create a multisig wallet, open the BitPay App and follow these steps:
- Click on “Create, import or join a shared wallet” on the app home screen.
- Select “Multisig Wallet”, then “Create a Shared Wallet”
- Select the currency, either Bitcoin, Bitcoin Cash, Dogecoin or Litecoin. ...
- Enter the wallet name.
Steps Required to Create a Software Crypto Wallet
- Step 1: Select a software wallet app. The first step in creating a software crypto wallet is to select a reliable wallet provider. ...
- Step 2: Download the wallet app to your phone or computer. ...
- Step 3: Create an account. ...
- Step 4: Transfer your assets.
As the name suggests, a multi-coin wallet is a wallet supporting more than one cryptocurrency asset. Through these wallets, you can hold numerous cryptocurrency assets at one location and earn passive rewards via active user rewards or staking.
What is the best multichain wallet? ›
Best multi-chain crypto wallets: Comparison table
| Wallet | Type | Coin Support |
|---|
| Trust Wallet | Software | 140+ |
| Exodus Wallet | Software | Up to 100 |
| Coinbase Wallet | Software | 240+ |
| Ledger Nano X | Hardware | 1,800+ |
5 more rowsMar 22, 2024
Coinbase Wallet allows you to create up to 15 "sub-wallets" linked to one recovery phrase on your Ethereum and Solana wallet. Each sub-wallet gives you a unique Ethereum and Solana address for you to send funds to that wallet.
Is it legal to have multiple crypto wallets? ›
How many crypto wallets can one person have? Since crypto wallets are not typically regulated or tracked by financial institutions or governments, there is no limit on how many wallets an individual may own. It is recommended that you use multiple wallets from different providers for different purposes.
How do I create a Multisig wallet ledger? ›
Sign transaction using the first key
- Click Ledger. ...
- Connect your Ledger device to your computer and unlock it.
- Open the Bitcoin app on your Ledger device.
- Click Sign with Ledger.
- Review the transaction on your Ledger device and if everything is correct, approve it.
- Once approved, you can download your signed PSBT.
Your 12-word secret recovery phrase is the key to your wallet and controls access to all your funds, so write it down and keep it safe! If your device is lost or stolen, the only way to recover your funds is with your secret recovery phrase.
Can you guess a trust wallet phrase? ›
Could a Hacker Guess My Trust Wallet Phrase? The probability of a hacker guessing your recovery phrase is exceedingly low, bordering on the impossible. As a fun fact, a 12-word seed phrase offers an astonishing number of possible combinations—340,282,366,920,938,463,463,374,607,431,768,211,456 to be precise.
How to create a multi-signature wallet on Trust wallet? ›
Open Trust Wallet and create a new wallet or select an existing one. Go to the DApps section and search for a multisig wallet provider, such as Gnosis Safe or MultiSigWallet. Follow the provider's instructions to create a multisig wallet and set the required signers and thresholds.
Trust Wallet does not have a daily limit for withdrawing Tether, or any other supported cryptocurrency. However, there are network fees associated with each withdrawal, and these fees are determined by the specific cryptocurrency's network.
How to build multichain wallet? ›
Here are the steps to create your own multi-chain crypto wallet: Research and Choose a Platform: Start by researching different blockchain platforms that support multi-chain wallets. Ethereum, Binance Smart Chain, and Polkadot are popular choices. Choose the one that aligns with your project's goals.
How do I create a Decentralised wallet? ›
Hosted wallets
- Choose a platform you trust. Your main considerations should be security, ease of use, and compliance with government and financial regulations.
- Create your account. Enter your personal info and choose a secure password. ...
- Buy or transfer crypto.
Since crypto wallets are not typically regulated or tracked by financial institutions or governments, there is no limit on how many wallets an individual may own. It is recommended that you use multiple wallets from different providers for different purposes.
How to create your own bitcoin wallet? ›
How to set up a crypto wallet
- Pick a wallet app and download it on a desktop or mobile device; many software wallets have both options.
- Create an account. ...
- Write down your recovery or “seed” phrase. ...
- Add crypto to your wallet.
