Crypto Wallet (DEX)

1. Introduction: Hi, welcome to our class about decentralized wallets. In this class, I will try to explain to you and teach you how can you create your decentralized wallet in Metamask and phantom. Metamasks we are usually using for most of the block chains like efferiumtron. And the phantom wallet is used for Solana. If you want to get in that meme craziness that is going around encrypted community, I will show you how can you use Phantom to upload Salana and then you can go to Decentralized Exchange and try your luck with meme coins. Let's go into our lesson. 2. DEX wallets: Welcome back, everyone. Today's lesson is about wallets, specifically decentralized wallets like exodus and meta mask. If you're serious about securing your cryptocurrency, learning how to properly use these wllets is essential. Let me start by asking, What exactly is a wallet in the crypto world? Well, a crypto wallet is your gateway to securely storing, sending and receiving digital as. But unlike traditional wallets, you are not storing physical money. Instead, you are securing digital keys that give you control over your funds. There are two main types of wallets, custodian and non custodian. Custodian wallets, like those on exchanges, mean somebody else. Typically, the exchange holds your private keys, but the centralized wallets like Metamask and Exodus, give you full control over your private. That means you and only you are responsible for securing your fund. By the end of this lesson, you understand how to set up, use, and secure your decentralized bot, giving you full control over your cryptoasit. Make sure to check the description for links to Metamask Exodus, and some handy guides on wallet security. We will start with Metamask, a browser extension wallet that connects you to the decentralized web. Also, it's available on Android and IRS. So now let's set up our Metamask wallet. Let's download it for Romeo, at opera, head extension. Okay, so we have add our wallet to Opera. Now let's go to the wallet. Okay, let's agree and create our first crypto wallet. Okay. Agree. Now, we will need to create a password with minimum eight actors. Let's do it simply like this. Numbers 1-9. Okay. Create a wallet. So this is the instruction how we should secure our wallet. I will be playing it so that you have the idea. Metamask is a new way to connect to sites and applications. On traditional websites, a central database or bank is responsible for controlling and recovering your accounts. But on Metamask, all of the power belongs to the holder of a master key. Whoever holds the key controls the accounts. Your secret recovery phrase is your master key. It's a series of 12 words that are generated when you first set up Metamask, which allow you to recover your wallet and funds if you ever lose access. It's important that you secure your wallet by keeping your secret recovery phrase very safe and very secret. If anyone gets access to it, they will have the master key to your wallet and can freely access and take all of your funds. To secure your Metamask wallet, you'll want to safely save your secret recovery phrase. You can write it down, hide it somewhere, put it in a safe deposit box, or use a secure password manager. Some users even engrave their phrase onto a metal plate. Nobody. Not even the team at Metamask can help you recover your wallet if you lose your secret recovery phase. If you haven't written down your secret recovery phrase and stored it somewhere safe, do it now. We'll wait. And remember, never share your secret recovery phrase with anyone, not even us. If anyone ever asks you for it, they're trying to scan you. That's it. Now you know what a secret recovery phrase is and how to keep your wallet safe and secure. Okay, this is our recovery phrase. Let's see it. Okay, you can see that our phrase consists of 12 words. You should write it down and nobody should have any access to those words. This is a test wallet, so no problem for you to see. Okay, so let's click next. Now you will need to verify that you have recorded your recovery phrase. Let's do it. In. Number three is broken. And number eight is think. Okay. Confirm. Okay, so we have successfully created our first decentralized wallet using Metamask. And I forgot to tell you that Metamask natively uses etherium block chain, but you can add different block chains to it, like enmrchin and Arbitron and many more. So let's continue. Okay. Okay, so we have successfully installed our meta Mas. Continue, continue. And you can see that our account is ready. Over here, you can see your balance, your balance in United States dollar or any other currency you prefer. You can change the currency from settings. I think also you can change the language. Let me see. Okay, so here is our currency. Yes, you can select the language you prefer. I will stick to English. Okay. And over here we have buy and sell, send swap, swap will talk separately. Bach option is an option. To send tokens from one block chain to another, we'll talk about it later and information about your portfolio. Over here, we have tokens, NFTs, if you want to get any collections, your activities, so you can see that there is no activity at the moment, but we will continue working with this wallet and you'll see how everything is work. Also, we can see that there is option for staking an efiium. If you go to Metamask portfolio, there is an option to stake a fium but we will talk about staking in a separate class after we will be done with trading. And since we have installed our application, you can see that we can access it from our extension. I suggest you to thin it so that you have easy access to your meta like this, and we have all the tools we have here we have in our dropdown window. So this is how you install Metamask. Okay, over here, you can see that we have aperio main net and you can add other networks over here. We'll be creating a separate program on how to work with all de enterprised wallet. This will not be included in this class. Now I'm just showing you how to create it, and in future, I'll show you how to use it for basic things. Okay, now let's move to Exodus, which is a multi currency wallet that also integrates with hardware wallets or extra security. A quick reminder, the most important thing in the world of crypto is to never share your private key or sit phrase. Let's create our Exodus wallet. We'll need to go to download. In Download, you have multiple options. You can use desktop, mobile or web point free. Wallet, which is for our browser, let's download it. Okay, at home, a extension. Okay, you can see that Exodus wallet has been outlet. Let's create a new wallet. Okay, so let's create a password for our Exodus wallet. It requires more security than the meta mask, so I will be using a more difficult password with some letters. Okay, we are done. Okay, let's continue. So our wallet is ready. Yes, perfect. It is not backing up by a seed phrase yet. We'll need to do it right now. Okay, to back up our wallet, we'll need to go over here, back up your wallet. Okay, next, next, next. Okay. I understand. Let's enter our password so you can see backup rays view, reveal. Okay, this is our seed for this wallet. Okay, this is our backup ras. And now we'll need to check if some of those words match our Word file. Let's check forest. Okay, so forest we have none. 2020? No, we don't have 2010. Yes, we have ten at number nine, and wisdom we have not. Okay. Okay, so we are done. Our wallet is backup by our backup phrase. So over here, you will need to click on wallet and you can see all the assets supported by Exodus. It's a decentralized wallet, so you are holding your funds on your own risk. But on the other hand, the plaspd you don't pass any KYC. So this is how you create an Exodus wallet. Both Exodus and Metamask are herble on Android and Ives. Make sure to check the description for links to Metamask, Exodus, and some handy guides on wallet security. This is all on decentralized wallets. 3. Congratulations on finishing the class: Congratulations on completing our class. You have successfully created yourself a decentralized wallet. Now you can participate in any web free activities and play with your group to the way you like it without any restrictions. Thank you for joining this class and I hope to see you soon in our upcoming classes. Take care and see you