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How Do I Get a Cardano Wallet?

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Cardano is among the most well-known altcoins with many supporters. And if you want to become one of them and invest in ADA, it’s time to get a Cardano wallet. In this article, crypto wallet specialists from Guarda describe how you can get a Cardano mobile wallet.

Why Should I Get a Wallet?

Storing your coins in a so-called “cold wallet” is much safer than keeping them on an exchange. The fact that crypto exchanges are centralized platforms makes them vulnerable to hacker attacks, through which hackers can get access to user assets and steal them. Also, there is a risk that your coins might get lost due to platform malfunction.

A crypto wallet is disconnected from the web when it’s not used for transactions. This makes it almost impenetrable for hacker attacks. That’s why crypto wallets are favored for long-term storage, which also gives you easy access to your assets while maintaining maximum security.

How to Set Up Cardano Wallet

First of all, you’ll need to install Cardano-node and Cardano-cli on your machine. The first will provide access to the blockchain network, and the second one is needed to use the wallet’s functionalities.

After both are installed and connected, it’s time to choose the application to create a wallet. There are several of them out there with different UI and functionality. Make sure to compare their strong and weak points and choose one that best suits your needs. You can even stick to Cardano-cli and use it to create a wallet through command-line commands. It won’t have the comfort of a graphic interface but provides certain programmability.

If you choose to go with a different wallet application, the setup will vary, but there are some common steps. You’ll need to allow Cordano to use payment URLs and select them when creating a wallet. You’ll then be asked to set your wallet name and password. And that’s it, you are ready to deposit ADA to your wallet.