Mobile walletMobile wallet: a complete guide

This is a practical guide for crypto beginners. Below we show you how a mobile wallet actually works, how to set one up step by step, and how to keep your seed phrase safe. A mobile wallet is an app on your smartphone that lets you receive, send and manage your crypto. You download it like any other app from the App Store or Google Play.

It feels like the coins are stored on your phone, but they are not. Your coins live on the blockchain. The wallet is more like a keychain: it holds the keys that prove the coins on the blockchain belong to you.

When you create a new wallet, the app generates a private key, a long string of letters and numbers. To make it easier to back up, this key is converted into a list of 12 or 24 random words, called the seed phrase or recovery phrase. Whoever has the seed phrase has access to the wallet, keep that in mind.

There are three main types of crypto wallets. Each has a different balance between convenience and security.

• Mobile wallet, an app on your phone (Exodus, Trust Wallet, MetaMask Mobile). Free, easy to set up, fine for small amounts and daily use.
• Software wallet, a program on your computer (Exodus desktop, MetaMask, Electrum). More features than mobile, but only as safe as the computer it runs on.
• Hardware wallet, a physical device (Ledger, Trezor, SafePal) that keeps your private key offline. The safest option for larger amounts or long-term storage. Costs €50-€150.

Our recommendation: start with a mobile wallet for your first crypto. Once your holdings reach a few hundred euros, move them to a hardware wallet.

Step 1, Download a wallet app

Go to the App Store (iOS) or Google Play Store (Android). Search for a well-known wallet such as Exodus, Trust Wallet or MetaMask Mobile, and install the official version. Check the publisher and number of downloads, fake wallet apps are a common scam.

Step 2, Create a new wallet

Open the app and choose “Create new wallet”. The app generates a seed phrase of 12 or 24 words. Do not skip this step or take a screenshot.

Step 3, Write down your seed phrase

Write the words on a piece of paper, in the right order, by hand. Do not photograph it, do not email it to yourself, do not save it in a password manager that syncs to the cloud. Store the paper somewhere safe at home, not in the same place as your phone.

Step 4, Set a strong passcode

Add a passcode (and Face ID or Touch ID) to the app itself. This protects your wallet if someone else gets hold of your unlocked phone.

Step 5, Receive your first coins

Tap “Receive” and choose the coin you want, for example bitcoin. The app shows your receiving address. Copy that address and use it on BTC Direct to send your purchase straight to your wallet.

Important disclaimer: Your seed phrase is the only way to restore your wallet if your phone is lost, stolen or broken. Lose the seed phrase and your coins are gone. Share the seed phrase and someone else can take your coins.

Receiving coins: open your wallet, tap “Receive” and pick the coin (bitcoin, ether, or whichever coin you want). The wallet shows your receiving address, a long string of characters. Copy it and paste it on the platform that is sending you coins (for example, the order form on BTC Direct). Once the network confirms the transaction, the coins appear in your wallet.

Sending coins: tap “Send”, paste the destination address, enter the amount, and confirm. The transaction goes straight to the blockchain. There is no “undo” button, double-check the address before you confirm.

Network fees: every blockchain transaction costs a small fee, paid to the network (not to your wallet or to BTC Direct). Most wallets pick a sensible default fee for you. For bitcoin, expect a few cents to a few euros depending on network traffic.

Once you understand the seed phrase, three more steps make your wallet much harder to break into:

• Two-factor authentication (2FA). Use Google Authenticator or Authy on your BTC Direct account. Avoid SMS-based 2FA, which can be hijacked through SIM-swap attacks.
• A unique password. Use a password you do not reuse anywhere else. A password manager helps.
• Verify the address before sending. Compare the first and last few characters of the address you pasted. Some malware silently replaces wallet addresses on your clipboard.