5 Steps to Setting Up Your Ethereum Wallet

Sarah Wood -

To join an Upstream Collective, you need to have an ethereum wallet. Here's an easy guide how to set yours up!

Join the first-ever Upstream Collective in beta here. As part of your application process to the Collective, you will need to sign-in with your ethereum wallet.

There are several options you can use for ethereum wallets and crypto exchanges to purchase ethereum.

In this example, we’re using Coinbase for the crypto exchange and MetaMask for the crypto wallet because they are straight-forward and secure.

Let’s get started!

  1. Set up a Coinbase account

Coinbase is a cryptocurrency exchange where you can buy, sell, and store cryptocurrency like Bitcoin, Ethereum, and more.

Coinbase has a simple interface and is one of the easiest platforms to get your money into crypto if you are a beginner. You could also use: Kraken, Bitstamp, Gemini

On any platform, you will have to go through KYC (means “Know Your Customer” - it’s a multi-step process that financial companies use to verify who their users are and prevent fraud) which could take a few days. More info here.

2. Set up your MetaMask Wallet to Hold Your Ethereum

MetaMask is a crypto wallet that is easy to use. You can also use WalletConnect or any ETH-based wallet.

Install MetaMask for Chrome here.

*SAFETY TIP* NEVER share your private key with someone.

If someone has your private key, they have access to all of your money. Read more about how to keep your wallet secure here.

3. Buy ETH on Coinbase

For instant transfer, use your debit card or wire transfer. Using a bank account could take a few days.

4. Send ETH (from Coinbase) to Your Wallet (on MetaMask)

Copy your public wallet address from Meta Mask and paste into the “Receive” box on Coinbase. Triple check that the address is correct.

5. Request to Join the Upstream Collective and Connect Your Wallet

Join the first-ever Upstream Collective in beta here.

Note: It does not cost any money from your wallet to sign in.