How to setup your first public wallet address on the Ethereum Network
This is a guide to have a fun, simple & secure way to create an Ethereum wallet, browse/own NFTs, and explore Web3
Step 1: To start, download rainbow on your iPhone or android (beta)
Open the app, and you’ll see the screen below. Tap “Get a new wallet” — and you’ll have one!
Step 2: Find your secret phrase to access this wallet at any time
This secret phrase is the web3 equivalent to your password (more on that below). The secret phrase is what you can use to login to your wallet at any time or on any device. A pop up should ask you to choose one of the following options to save your secret phrase
The best option is to Back up manually and write it down. You can backup to iCloud, but if your iPhone or iCloud gets compromised, so does your wallet access.
Step 3: Locate your public wallet address and share it with us for your NFT drop!
Your public wallet address is the long complicated string of letters and numbers starting with “0xe0…4770”. Usually it’s around 40–42 characters long.
Double Check Every Single Digit to make sure it’s correct when copying and pasting. Of course, yours will be different to the one above.
Click on “copy address.” Send this string of 40–42 characters to us.
This is your public wallet address. Send this to us and you are all set!
Few Things to Consider
You do not need to own any crypto to receive our NFT. However, this is not usually the case! We want to make it as easy and cost effective as possible to get you your first NFT, so no need to buy any ETH or spend on any “gas fees.” for this drop!
Be aware of scams: crypto has them everywhere. Don’t give anyone your secret phrase — nobody should ask you for it. If you see ads on Instagram or Facebook for crypto asking for any of these information, you are doing something wrong!
Goodbye Usernames and Passwords
Just to reiterate, the world of crypto and Web3 is a bit different than how we’re used to surfing the traditional internet.
A crypto wallet doesn’t typically have a username or password associated with it. Instead, it has 3 things — none of which are chosen by the owner:
1. a public wallet address
2. a secret phrase
3. a private cryptographic key
A private key or secret phrase grants control over everything inside of a wallet.
If you lose your wallet’s private key and secret phrase, there’s no way of recovering access to the wallet. You can’t just click a “forgot password” button, and there’s no 2-factor authentication. Wallet providers like Rainbow don’t even know your private key, so there’s no “support” or help service if you lose it!
You need to personally backup your private key and/or secret phrase.
With Rainbow, you can automatically create a secure iCloud / Google Drive Backup of your wallet. However, the most secure way is to have the secret phrase stored offline in written form and remembered.
Anyone who knows your public address can see your transaction history and what assets you have inside of your wallet. They can also send things to your wallet without your permission. In this case, we’ll be able to airdrop you our NFT without you taking any additional action! Just don’t lose access to this wallet or we won’t be able to help you.
Once you’ve written these down, you are set up! The final step is to get your public wallet address.
If you ever need to “log out” or your wallet or delete your wallet on your device, click on the down arrow next to your icon and hit “edit” in the screen below.
Next, click on the familiar “3 dots” icon to see your options:
Click “delete wallet” to delete, and edit wallet to rename or adjust settings.
This takes you back to your original screen, where you can either input your secret phrase to recover your wallet, or create a new wallet with completely new address and secret phrase.
Don’t forget to send us your public wallet address by email or phone!
Further Reading
Rainbow really makes it easy for iPhone and Android users — we are not affiliated with them in any way, but we think they’re great! We’ve pulled resources from their website for those of you who are eager to learn more.
Talk soon!
