How to Set Up a Crypto Wallet: Step-by-Step Guide (2026)

To set up a crypto wallet, download a reputable wallet from its official site or app store, create a new wallet, write the 12- or 24-word seed phrase on paper, confirm it, set a device password, then copy your receiving address and send a small test amount on the right network before moving anything larger.

What do you need before setting up a crypto wallet?

• A decision on the type. A software (hot) wallet is free and quick; a hardware (cold) wallet costs money but keeps keys offline. Our hot vs cold wallet comparison helps you choose.
• The networks you will use. Check the wallet supports them, for example Bitcoin, Ethereum or BNB Smart Chain.
• A private moment and pen and paper (or a metal backup plate). Nobody, and no camera, should see the seed phrase.
• An up-to-date phone or computer with no unknown apps or browser extensions installed.

How do you set up a software wallet?

The steps below follow MetaMask's official getting-started guide, and most mobile and browser wallets work the same way.

1. Download from the official source. Go to the wallet's own website (for example metamask.io) or its listing in the official app store, and check the publisher name. Fake wallet apps and search ads that imitate real wallets are common.
2. Choose "Create a new wallet". Only choose "Import" if you are restoring your own existing seed phrase.
3. Set a strong password. It unlocks the app on this device only. It is not a backup and cannot restore the wallet elsewhere.
4. Write down the seed phrase. MetaMask calls it the Secret Recovery Phrase. Write every word in order, numbered, and double-check the spelling. Under the BIP-39 standard each word comes from a fixed list of 2,048 words, so a misspelled word is easy to spot later.
5. Confirm the phrase. The app will ask you to pick words in the right order to prove your copy is correct.
6. Lock down the device. Turn on a screen lock, biometric unlock for the app if offered, and a short auto-lock timer.

The seed phrase is what actually controls the wallet; our guide to private keys and seed phrases explains why.

How do you set up a hardware wallet?

1. Buy directly from the manufacturer and check the packaging has not been opened.
2. Install the companion app (such as Ledger Live or Trezor Suite) from the manufacturer's official site.
3. Initialise the device as new and set a PIN on the device itself.
4. Write down the seed phrase shown on the device screen, then confirm it on the device. If a seed phrase card arrives pre-filled in the box, the device is compromised; never use it.
5. Update firmware only through the official app, and consider an optional passphrase for larger holdings.

How do you receive crypto and send a test transaction?

1. Select the network first, then copy the receiving address. On a hardware wallet, confirm the address on the device screen.
2. Paste the address into the sending platform, select the same network there, and compare the first and last few characters.
3. Send a small test amount and check it arrives, either in the wallet or on a block explorer.
4. Send the rest once the test succeeds.

For USDT on BNB Smart Chain, many wallets list the network by default; otherwise add BNB Smart Chain (chain ID 56) from the wallet's network settings. USDT on that network is a BEP-20 token, so you may need to add it to the wallet's token list to see the balance, and you need a little BNB in the same wallet to pay gas whenever you send tokens out. Read what BNB Chain is for background.

What mistakes should you avoid when setting up a wallet?

For where and how to keep the written backup, see how to store a recovery phrase. If you are still choosing a wallet, start with what a crypto wallet is.

Frequently Asked Questions