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What is an ADA wallet and how do you create one?

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What is an ADA wallet and how do you create one?

The 3air token is based on Cardano ($ADA), which means that you need to have a wallet that can store ADA to purchase and stake 3air. Here is a guide on how to set up your ADA wallet and how to use it to buy 3air tokens.

Why do you need a wallet?

The first thing you should do when buying any new cryptocurrency is make sure that you have a safe place to keep it. A wallet stores your private keys, which are like passwords or pins that allow you to access your coins. If someone gains control over your private key then they could spend your coins without you knowing. It’s important to be careful with where you put this information because if you lose your wallet, you risk losing your funds.

There are many different types of wallets available for people to choose from but they all serve the same purpose: they help you store your coins safely. For 3air, you need a Cardano wallet.

A Cardano wallet is essentially a tool that enables you to interact with the Cardano blockchain. That way you are able to send, receive, store and stake Cardano’s native cryptocurrency ADA and any Cardano based token.

The different types of wallets

Hot and cold wallets

There are two main types of wallets: hot and cold wallets. A hot wallet is connected to the internet and allows you to send and receive money easily. This includes online wallets such as your wallet on Coinbase, Binance or Metamask.

Cold wallets, also known as cold storage, involves storing your coins offline. This is done through the use of hardware wallets such as Trezor or Ledger Nano S. These wallets secure your private keys in a safe chip, and that can be disconnected from the internet. It is strongly recommended to have a hardware wallet that you can transfer your cryptocurrency to for maximum security.

To be able to purchase 3air tokens, you need a hot wallet that allows you to send and store ADA, so let’s take a look at which wallets you can use.

ADA Wallets

Wallets also differ in terms of the blockchains that they can interact with. There are several wallets that can be used to transact with the Cardano blockchain (ADA). The two most common ones are the Daedalus and Yoroi wallets. They can be used to send, receive, hold, and stake Cardano-based coins and participate in other features like community governance.

Daedalus is a full-node desktop wallet that downloads a full copy of the entire blockchain to your computer so that it doesn’t rely on centrally hosted servers.

Yoroi is a light-weight Android/iOS and browser extension wallet. Unlike Daedalus, it doesn’t download a copy of the ledger but instead connects to a cloud version of it on a server. It is similar to the Metamask wallet that you would find in the Ethereum world, which means that you can send or verify the reception of transactions right away.

Using the Yoroi wallet to purchase 3air tokens

If you don’t own a Cardano wallet yet and you want to purchase 3air tokens, we recommend using the Yoroi wallet. It is a free, open-source wallet developed by Emurgo. It comes as a browser extension that can be installed on common browsers, including Chrome, Edge, and Firefox. A mobile app version is also available for Android and iOS.

Be sure that you download the correct version from the official Yoroi website — https://yoroi-wallet.com/.

yoroi wallet

If you use the Brave Browser, you can click on “Chrome” and the extension will be installed from the Chrome web store. Depending on which platform you choose, you’ll be taken to the Chrome web store.

For a full guide on how to install Yoroi wallet, follow this step-by-step video from Emurgo, the developers of the Yoroi wallet.

Next steps: purchase your 3air tokens

Once you’re all set up with your wallet, it’s time to purchase your 3air tokens. To do this, go to https://presale.3air.io/. You will be greeted with the following screen:

3air registration

This is where you you can register a new account to join the 3air public presale. Once you have passed the KYC you will need to paste your Yoroi wallet into the presale app. To do this, open your Yoroi wallet app and go to “Receive” and copy the wallet address under “Your wallet address”.

For more information on how to create a buy order for 3air tokens, check out this article.

3air is a decentralized telecom platform connecting people of Africa with broadband. Please visit 3air.io for more information.