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Lesson 8: Creating your first wallet

You made it!

Thank you for taking The Ultimate 10-Day Cryptocurrency Course and learning about the technology that’s changing the world.

Now, that you understand the basics, it’s time to take action.

If you haven’t yet, today you’ll create your first crypto wallet and buy bitcoin.
 

Step 1: Download Abra app from Google Play or Apple Store.

Abra is available in over 150 countries allowing anyone to invest in dozens of cryptoassets from a single app.




Step 2: Set up your wallet. Each wallet is unique and secure.

Step 3: Get your recovery phrase.

There are several opportunities to have the app to show you your recovery phrase, including:

  • When you first install the app.
  • When you are reminded to verify your recovery phrase.
  • When you press the “Backup” button in the main menu of the app.

Step 4: Write down a copy of your recovery phrase and store it in a safe place. 

You may be tempted to take a screenshot but if you lose your phone, you may also lose your recovery phrase. Remember that anything stored online is more vulnerable to hacking. 

Step 5: Verify that you have saved a copy of your recovery phrase.

Once you have stored a copy of your recovery phrase in a safe place, go to the next screen and type the words back into the app in the correct order, then press the “Confirm Phrase” button to verify your recovery phrase. If you typed it correctly, you will receive a confirmation notification.

Step 6: Your wallet is now protected!

After you have verified your recovery phrase, you will no longer receive reminders to verify your recovery phrase. You can now use the copy that you saved to recover the funds in your wallet if you get a new phone or have to re-install the Abra app for any reason.

Remember that Abra wallets are unique to each device, so you should not try to access the same wallet across multiple devices (this might lead to syncing issues and create other problems).

Step 7: Fund your wallet.

Once you’ve set up your wallet and secured your recovery phrase, you’re ready to add funds and start investing. The ways in which users can add funds to an Abra wallet vary from country to country, but the one universal currency all Abra wallets accept is cryptocurrency — specifically bitcoin, ether, bitcoin cash, and litecoin.

Most of the world also has the option to fund their wallet with a credit card — Mastercard or Visa — or bank wire transfer. In the US, EU and Philippines, users can also choose to fund their wallets via a local bank transfer. Once funds have been added, users can start investing in any of Abra’s supported investment assets.

Here are the ways to fund your Abra wallet:

Note: Some users may have to submit additional documents for verification.

Once your wallet is funded, managing your portfolio is easy.
 


Step 8: Manage assets.

Click on “Manage assets” in the top right corner of the app.



Step 9: Add Assets to your portfolio.

Tap the asset you would like to add to your portfolio and invest.



Step 10: Choose a fund.

Select a funding source for your desired investment.



Step 11: Initiate the exchange.

Exchange your chosen asset with the chosen fund.




Step 12: Confirm the exchange.



Step 13: Investment complete!

Congratulations! Your investment order is received. You’re officially a cryptocurrency investor!

If you want to take the final rewarding step to earn bitcoin, stay tuned for the last lesson.

Team Abra
 


Upcoming Lesson: [Lesson 9] How to invite friends and earn bitcoin

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