How to Set Up a Cryptocurrency Wallet for Online Wagering in 2025

Setting up a crypto wallet is the crucial first step toward safe and convenient cryptocurrency wagering. Follow this simple guide to ensure you're securely ready to wager online.

Step-by-Step Guide to Setting Up Your Crypto Wallet

1. Choose the Right Wallet Type

There are two main types of cryptocurrency wallets, each with its pros and cons:

• Hot Wallets: These wallets are connected to the internet, usually via apps or web browsers. They’re user-friendly and great for quick access but less secure due to their online exposure. Recommended hot wallets include MetaMask, Crypto.com, Coinbase, and Kraken.
• Cold Wallets: Also known as hardware wallets, these are physical devices used to store cryptocurrency offline. They offer higher security but require more technical knowledge and initial setup. Popular hardware wallets include Ledger Nano S Plus, Trezor Model T, and Cypherock X1.

2. Download or Purchase Your Wallet

• If choosing a hot wallet, download it directly from the official website or trusted app store.
• For a cold wallet, purchase it from an official source or reputable retailer to avoid counterfeit products.

3. Set Up Your Wallet

Follow the wallet provider's step-by-step instructions to set up your wallet. Usually, this process includes creating a strong password or PIN to protect your wallet.

4. Safeguard Your Seed Phrase or Private Key

During setup, you'll receive a seed phrase or private key—this is your ultimate recovery tool if you lose wallet access. Write this phrase down carefully and store it securely offline, away from potential online threats.

5. Enable Two-Factor Authentication (2FA)

For hot wallets especially, always enable Two-Factor Authentication (2FA). This provides an additional layer of security, making your wallet more secure against unauthorized access.

Your Wallet is Ready for Wagering!

With your cryptocurrency wallet set up, you’re now securely equipped to purchase crypto and begin enjoying seamless online wagering at SBX!
Need more help? Check out our guide on how to buy crypto to get you started.