Getting Started with Ethereum on Zapit Wallet: A Step-by-Step Guide

A quick guide explaining What is Ethereum, How to set up your Ethereum Wallet, Add funds and make transactions on the Ethereum Blockchain!

What is Ethereum?

Ethereum is a blockchain that enables developers to build decentralized applications and users to interact with these applications using its native cryptocurrency, Ether (ETH). Ethereum is also the world’s second-largest cryptocurrency by market capitalization, with the most active users of any blockchain.
Zapit is an easy-to-use cryptocurrency wallet that allows users to access the Ethereum network, manage their ETH and perform various transactions. In this step-by-step guide, we will walk you through the process of getting started with Ethereum on Zapit, a non-custodial wallet covering account creation, adding funds, and making transactions.

What is ETH?

ETH, or ether, is the native cryptocurrency of the Ethereum blockchain network. Unlike cryptocurrencies like Bitcoin, which primarily functions as a digital currency, Ethereum aims to be a decentralized platform enabling various applications built upon its technology.
While ETH can be used for transactions like other cryptocurrencies, it also fuels the operations on the Ethereum network, including running smart contracts and powering decentralized applications (dApps).

How Does an ETH Wallet Work?

An Ethereum wallet uses private cryptographic keys to store your ETH and other blockchain assets, and it allows you to receive and transmit ETH using these keys. These keys unlock your funds on the blockchain, a network that keeps a public record of all your ETH transactions.
These wallets let you receive, send and even utilize your cryptocurrency in a variety of intriguing applications, like DeFi, NFTs, and more.

Set Up Your ETH Wallet on Zapit in 5 Simple Steps!

In the following sections, we have explained how you can create an ETH wallet, secure it, add funds, and start making transactions. Let’s dive in.
If you already have funds in a different wallet go to Step 4(2).

Step 1: Create a New Wallet on Zapit

To get started with Ethereum on Zapit, you need to create a new wallet. The first step is downloading the Zapit Wallet app. You can find it on:

Android: Play Store Link
iOS: App Store Link
Web Browser: Chrome Link

Follow the on-screen instructions to complete the wallet creation process.
Check out our detailed video guide below.

Step 2: Backup and Recover Seed Phrase for Your ETH Wallet

To recover your Ethereum wallet from the seed phrase, you have four options:
1. Write it down on a piece of paper and keep it safe.
2. Take a screenshot.
3. Copy the seed phrase into a secure notepad or
4. Export the seed phrase as a text file or password-protected file in your device’s local storage or the Zapit cloud.

Important: Always remember and store your Seed Phrase securely! It functions similarly to your password, allowing you to restore your wallet whenever needed.

Watch our tutorial on backing up and restoring seed phrase below.

Congratulations! Your Ethereum Wallet is now ready.

Step 3: Secure Your (ETH) Wallet

Now that your wallet is ready to use, please remember that before you start making transactions or exploring the wallet features, keeping it secure is crucial when dealing with cryptocurrency. Take the following steps to secure your Zapit Wallet:

• Go to “Settings” and enable the PIN code / Fingerprint Authentication.
• Also, enable Payment Authentication. This will stop people from accessing your funds in case you lose your phone or laptop!

Step 4: Add Funds to Your Zapit Wallet

Before you can start making Ethereum transactions on Zapit, you need to fund your wallet. There are 3 ways to do it!

1. If your ETH is on an exchange.
   First, go to the receive tab, select ETH coin from the list of options and copy your Ethereum Address.
   Go to the ‘Withdraw’ section on your exchange, paste your receiving address on Zapit and select the network as Ethereum.
   Send the amount!
2. If your ETH is in a different wallet.
   Restore your seed phrase to Zapit while creating your wallet and enjoy your funds without ETH gas fees!
3. If you are an existing Zapit user who already has BCH or other crypto
   First, go to the “Coin Swap” tab and select a crypto that you want to swap for ETH.
   Then, select “Ethereum (ETH)” from the list of available options for coins.
   Click “Swap”!
   Here’s how to make a crypto-to-crypto swap or ‘Coin Swap’ —

Step 5: How to Make Ethereum Transactions on Zapit?

Now that you have funds in your Zapit wallet, you can start making transactions. Here’s how to send Ether to another Ethereum address:

1. Open your Zapit Wallet
2. Navigate to the “Send” section.
3. Enter the recipient’s Ethereum address.
4. Specify the amount of Ether you want to send.
   You may need to set the ETH gas fee for the transaction. This fee is paid to miners for processing your transaction and can be adjusted depending on how quickly you want the transaction to be processed.
   Double-check all the details, including the recipient’s address and the amount.
5. Click the “Send” or “Confirm” button.
   You’ll be prompted to confirm the transaction using 2FA or your security method.
   Once the transaction is confirmed, it will be broadcast to the Ethereum network, and you can track its progress.

Check out our detailed video on sending and receiving crypto below

Advantages of Ethereum Wallets:

• Secure storage: Ethereum wallets protect your ETH and other blockchain assets with features such as seed phrase backup and recovery, that improve security.
• Convenience: Zapit’s ETH wallet provides simple access to your tokens through a user-friendly application that works on all types of devices.
• Versatility: In addition to sending and receiving ETH, wallets enable interaction with decentralized apps (dApps) built on the Ethereum network, resulting in a wider range of functionality.
• Control: Unlike centralized exchanges, ETH wallets provide you complete control over your assets, allowing you to manage them any way you see fit.

Conclusion

Getting started with Ethereum on Zapit is a straightforward process that involves creating a wallet, securing it, adding funds, and making transactions. Ethereum’s decentralized platform offers numerous opportunities for various applications, from decentralized finance (DeFi) to non-fungible tokens (NFTs). Now that you’ve learned how to use Zapit, you can explore the world of Ethereum and participate in this exciting blockchain ecosystem.