Whether you’re new to the world of cryptocurrency or a crypto veteran, it’s vital that you have a good crypto wallet on hand.
Cryptocurrency has taken the financial world by storm, emerging as a popular asset with the potential to generate lucrative returns.
Currencies such as Bitcoin and Ether have proved that there is profit to be made from digital currencies, paving the way for others like them.
But unlike traditional money, which is stored in a bank or can be obtained and stored physically, digital currency works a little differently, which is why you need a cryptocurrency wallet.
We’re here to clarify everything you need to know about setting up your mobile wallet for cryptocurrency, specifically Guarda Wallet, and why it’s the best choice for you.
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Why Install a Mobile Wallet for Cryptocurrency?
Crypto wallets don’t function like regular digital wallets. They are used for storing the private keys that give you access to your coin. Since your holdings live on the blockchain, they can only be accessed using those private keys, which prove that you actually own your digital money and allow you to make transactions.
If you lose your private keys or lose access to them, you lose the ability to access your money, making all that time on the crypto profit calculator a waste.
Therefore, it’s obviously essential that you keep your keys somewhere safe and secure while still retaining accessibility. If you’re limited to the digital wallet on your computer, as so many are, that latter part can become a challenge.
That’s where mobile crypto wallets come in.
What is a Guarda Wallet?
According to Investopedia, Guarda Wallet is one of the best software wallets available for managing, storing, and generally getting the most out of your crypto in a secure and safe way.
Not only that, but it also offers some desirable features for any user of cryptocurrency, including the ability to buy crypto, earn money off of your crypto through staking, exchange your cryptocurrency for cash, or even just straight up spend it using their prepaid Visa card.
Guarda Wallet supports over 50 different cryptocurrencies, allowing you to store all your assets in one wallet.
However, it’s leading factor is it’s security. Obviously, as previously stated, keeping your private keys safe and secure is of the utmost importance.
Guarda Wallet is a non-custodial cryptocurrency wallet, meaning it gives full control to the user and exclusively to the user; the wallet itself has no control over your funds.
It also means that it doesn’t store any private information, including backup files and passwords.
While this is great for retaining anonymity and preventing hacking, it does mean the responsibility of keeping that password and any backups safe falls to you, and if you fail to do so, you will not be able to regain access.
Installing Guarda on Android
Step 1: Search for Guarda Wallet on the Google Play Store.
Step 2: Install Guarda Wallet on your device. Once installed, open the app and follow the directions to create your wallet.
Step 3: Creating your wallet is easy; it only really takes three steps. The first starts with the click of a button, the Create a new wallet button. This will take you to a page where you can set up your password.
Step 4: You need a strong and secure password for your crypto wallet. Something that doesn’t contain words associated with you, or maybe even words in general, and should include some numbers and/or symbols.
That being said, you do need to remember it, so you will be prompted to write it down. Maybe write it down digitally on your phone or save it to a secure password manager until you have it memorized to avoid potentially losing any scrap pieces of paper with passwords on them.
Step 5: Information about your backup is given on the next screen, and it is essential for getting access to your cryptocurrency. It’ll take a combination of your backup and password, or your backup and face ID or thumbprint, for you to open Guarda Mobile.
Step 6: And that’s it. Your Guarda Wallet has been created!
Now that your mobile crypto wallet has been set up, you’re ready to buy and trade cryptocurrency with ease. Guarda Wallet gives you access to your cryptocurrency, anywhere and everywhere.
While cryptocurrency is generally known for its risks, when used safely, securely, and appropriately, there’s no limit to what it can do.
You can even go so far as to purchase your next holiday with crypto, or maybe you’ll even go on to create your own trading platform and have your own wallet.
What you do next is up to you, but wherever you go and whatever you do, you can rest easy knowing your cryptocurrency is safe and secure with Guarda Wallet.