How to securely set up the official IOTA wallet
Now that you’ve purchased some IOTA (if you haven’t, check out my guide on purchasing), you may wonder what the best way to store it is. Some might say it’s OK to keep it in the exchange, and this is true if you plan to do any kind of day trading with it. However, let’s not forget what happened on MtGox and more recently NiceHash. The hard facts are, storing your IOTA (or really any crypto) in an exchange leaves it vulnerable to theft. The best way to minimize your risk is to set up a personal wallet, so this guide will walk you through setting up the official IOTA wallet that is maintained and developed by the people behind the IOTA project.
To my knowledge, this wallet is the only wallet supported by the IOTA team, and is the only wallet I will be covering. I don’t recommend using any third party wallets, especially mobile wallets, and can’t advise on using anything besides the official wallet. Additionally I don’t recommend using any seed generators for your IOTA wallet, and have detailed a cryptographically secure way you can generate a seed on your own computer. You are using the IOTA wallet at your own risk, so it’s important to educate yourself about its shortcomings, and do your due diligence before sending any IOTA to your wallet.
