This is step 1 of our 3 step guide on how to become a project supporter. If you already have an Ethereum wallet, you can skip to step 2 on how to buy ETH on an exchange. To learn more about Cofound.it projects, visit our website.
This guide will show you how to create a new Ethereum wallet. The wallet you’ll use to participate in the crowdsale has to be ERC20 compatible. You can skip this step if you already have a Jaxx, MyEtherWallet, Parity, Mist, or MetaMask wallet. If you want to check whether any other existing wallet is compatible, join our telegram chat and we’ll check together!
MyEtherWallet is a quick and easy way to set up a free wallet, so the rest of this guide focuses on using this wallet service.
To generate a new wallet, go to MyEtherWallet (https://www.myetherwallet.com/) and you should see the following Create New Wallet screen. Choose a strong password (we recommend at least 20 characters). Click on the “Create New Wallet” button to confirm.
When you visit MyEtherWallet, you will be greeted by this screen, so you can immediately start creating your new wallet.
On the next page make sure to Download your wallet keystore file. The name of the file will be a long string of numbers and letters, starting with UTC — 20xx-and the rest of the date on which you create your wallet. Make sure to save the file somewhere safe and also back it up to a safe location (not on the same computer).
Take some time to Download the keystore file and back it up to a safe location.
After saving the keystore file, you can click on the “I understand. Continue.” button to continue.
The following page will display your private key information. The private key can unlock your wallet if you forget your password, so it’s very important to keep your private key safe. If you lose access to your private key, you lose access to your tokens, so don’t share this information with anyone under any condition. You should save your private key in a safe location, not on an internet-connected device.
Print the private key for your wallet, keep it secret and safe, and never share it with anybody!
You can easily print a paper version of your wallet by clicking on the “Print” button, and save the printed sheet of paper in a safe offline location.
Remember: whoever has access to your private key has full access to your wallet, so it is very important to keep it safe! For extra and convenient security, you can also get a hardware wallet like the Ledger Nano S.
Once you’ve printed and saved the private key to a safe location, click on the “Save Your Address” button.
Congratulations! You now have a new Ethereum wallet.
Whenever you want to access your wallet or do any transactions on MyEtherWallet, you’ll need to unlock your wallet first. To unlock the wallet, you need the keystore file you previously downloaded (the one starting with UTC — 20xx- and a date stamp) and your wallet password.
Select "View Wallet Info" from the top menu. When you see the unlock screen, just choose “Keystore File (UTC / JSON)” (1). When you select this option, a “SELECT WALLET FILE…” button (2) appears on the right. Click the button to find the wallet file on your computer or external drive. After you select the file, you’ll also be prompted to enter your password (3). If both elements match, you can now click on the “Unlock” button that appears.
You’ll have to Unlock your wallet before viewing your balance of sending transactions.
To check your wallet balance, click on the “View Wallet Info” tab. After you unlock the wallet, you’ll see your public Account Address (2), your Account Balance and Token Balances in the right column. Save your account address for later — this is your wallet’s public address, which you can use to send and receive Ether or various tokens like the CFI tokens. In addition, you will see a unique address icon (1).
This public address (starting with 0x) is similar to your traditional bank account number, so it’s ok to let others know your public account address if they want to send you ETH or tokens. Just keep in mind that you should never share your keystore file, password, or private key — the key is the lock that keeps your wallet safe and others don’t need to know it to send you funds, all they need to know is your public address.
In the next step, you’ll learn how to use your public address on an exchange website to fill your new Ethereum wallet with Ether (ETH).