How to Make an IOTA Wallet
Starting any kind of cryptocurrency wallet seems daunting at the beginning. IOTA is no exception. However, it’s not hard if you follow the simple steps laid out below.
First, you’ll need a legitimate wallet.
A cryptocurrency wallet, like any wallet, is a space for your cryptocurrency holdings. Unlike a traditional, physical wallet, it is a program or service that stores information such as the ownership keys or history of your transactions. And unlike a conventional portfolio, the currency itself does not live inside of this program. It only contains the information to connect with your digital currency holdings.
The first step to ensuring that you’re not using a scam or fake wallet is to download it straight from the IOTA Foundation website. Choosing to go from the source instead of a third party greatly decreases risks.
Once you download your wallet, then you check that the encryption on the file on your computer matches the listed code, or Hash, on IOTA’s website.
Hackers can make it seem like you’re downloading the official wallet program. If you don’t double-check that it’s safe, you could land yourself in trouble.
To make sure you get the official wallet, you must first find and copy the exact file name. The name will begin with the file’s location on your computer, then will include the specific file name, and will end with .exe. To find this on a Windows computer, you right-click the file, click “Properties,” select “Security,” and will then be able to copy the object name.
Once you have the name, you will check the encryption or “SHA256 Hash” of the file. For this, open the command window on your Windows computer. Type the following:
CertUtil – hashfile <FULL FILE NAME YOU COPIED EARLIER.exe> SHA256
This command will cause an extremely long series of letters and numbers to appear. If you’re investing a lot of money or are sceptical that your file is legitimate, then check every single part of this code. However, most people check the first six digits and the last four and consider it safe.
To find the SHA256 Hash of the official file, return to the IOTA website. The full encryption code will be there for comparison.
Now, it’s time to install the program.
The program installation works like any other you download from the internet. Click the .exe file and run the installer. When it’s finished, you’ll see a large window with the IOTA logo.
After about 15 seconds, one of two things will happen. We’ll talk you through the most likely scenario first.
A designated space should open for you to enter your seed and click login. If this happens, you’re all set. We describe how to generate a seed in the next section.
If there is no space to enter a seed, then your program has automatically connected to a node that is out of date, so you must change it before moving forward. To fix it, click “Tools” and then “Edit Node Configuration.” Here, you will enter a more current IOTA host.
To find current nodes, we recommend using either IOTAsalad or IOTAdance. Select a host and then paste it back into your wallet. Now you should be ready to enter a new seed.