In our opinion, the best way to start using a new wallet is as follows:
- Read up on the wallet and software you will be using
- Only use software wallets for small amounts
- For long-term storage, use a hardware wallet.
- Write down the backup words and any password correctly and in the right order. Use pen and paper for this. Do not take a photo or screenshot of these backup words!
- Make a small test transaction to your new wallet
- After you have received the test transaction, delete the wallet and restore it from the backup
- If you see the test transaction after recovery, and you can resend it (to yourself), you know the backup is correct. This is important, because if you make a mistake and have to restore while the backup turns out to contain an error, you may lose your coins forever
- If you are sure that your backup is correct, you may secure more value with confidence
- Do not forget to make a second handwritten copy of the backup. Pack them both in a fire- and water-damage resistant way and keep them under lock and key in different geographical locations or, even better, buy one of the backup products in our webshop
- Do not skip these steps