How to Create a Wallet

You have bought SOL on an exchange and want to use it in DeFi? You'll need a wallet!

1. What is a wallet?

Wallets are software for accessing and managing your account on a blockchain. Because blockchains are decentralized, your account is owned and managed not by a central entity but by yourself.

When you create an account on any wallet, you are given a set of 12 or 24 words. These words are your private seed. If you input those words on another computer, you will be able to access your funds. They are the keys to your account and should be kept extremely secure.

When your account is created, you also have at your disposal a public key – a set of random characters that represents your public identity on the blockchain. This is an address that you can share with others to receive payments and the address you will use to connect to DeFi protocols (like Marinade).

Different wallets exist for different blockchains. On the Solana network, wallets are called SPL wallets, capable of handling SPL tokens, the native tokens on the Solana blockchain.

2. What wallet can I use?

To use Marinade, you can use the following wallets:

• SolFlare

• Phantom

• Sollet.io

• Coin98

• Slope

If your wallet is linked to a Ledger, don't forget to turn on "Blind signature" in the Solana application options.

3. Security basics and hardware wallets

If you're starting your journey in DeFi, here are some security guidelines that you should be aware of:

• Do not store your seed phrase online or on your computer. Write it down on a piece of paper and store it in a safe place.

• If your seed phrase is not stored in a professional storing facility but in your house, keep a copy in another place for worst case scenarios (fires, floods, etc.).

• Losing your seed will result in a loss of your wallet. No one will be able to access your wallet if you save your seed properly.

• Invest in a cold wallet as early as possible. Cold wallets (or hardware wallets) are physical wallets where your private keys are stored safely and never shared with anyone. This is the safest way to store your crypto tokens.

• Be careful when using DeFi as there are malicious actors. Always make sure to use official links, never share information about yourself or your accounts with anyone, and do your own research before investing your money in something new.