Once you’ve been accepted into the Crypto Noob club there are a few steps required to get started.
1. Get a Cryptocurrency Wallet
You will need a cryptocurrency wallet to send and recieve cryptocurrencies. There are a few different categories of wallets with hundreds of different wallet options in each category. Here is a breakdown of the different kinds of wallets and our recommendations.
A Hot Wallet is an online storage wallet that are accessed online via a web portal. We do not recommend using Hot Wallets for long term storage of cryptocurrencies because they are susceptible to hacking.
Online Wallets are probably the simplest wallets to use. Creating an Online Wallet is as easy as signing up for a new account on BlockChain or any other similar service. Also, you can access your wallet from any device connected to the internet**, so making transactions couldn’t get any easier.
Software wallets are a subcategory of Hot Wallets that are downloaded to your desktop or mobile device for local use.
- greenaddress.it (For Bitcoin only)
- Electrum (For Litecoin only)
- Loafwallet or iOS (For Litecoin only)
Cold Storage Wallets
A Cold Storage Wallet is stored offline. Because they are not accessible online, they are more safe for long term storage than hot wallets.
A Paper Wallet is a fancy term for printing out your public and private keys on a piece of paper. Paper Wallets are more secure than using software or online wallets because you physically have your keys printed on a piece of paper. As you might have guessed, it is a Cold Storage method, as it is offline.
Hardware Wallets are stand-alone hardware cold-storage devices that generate keys on the fly while making a transaction. They are USB shaped devices, which have to be plugged into your computer while making a transaction.
Hardware wallets are secured from your regular computer malware because it generates private keys offline, on the device itself. They are extremely convenient to use and do not require the understanding of complex technical details. They also provide sturdy backup options, so you do not lose access to your wallet. They can be also secured with a password to combat theft. Overall, as you carry your private keys along with you all the time and it is prone to computer malware, hardware wallets are the most secure option.
2. Send us your Membership Fee
You can send us your one time membership fee to our Litecoin address:
Litecoin Address: LX4uPrVr6wX45w7cBhuoc2v9EUSTVuRnBm Verification Message: This is the official Cryptonoob LTC address Signature: IOGTP3hQaEgTUyPIWNGppmAR5iTAroMsQbwJSTvP07SaOWbd2v6kVTTp2G7pLnqUyTrZGNCTJ6sO7lOEEUbQyaE=
After sending your membership fee, please send an email to email@example.com with your Litecoin wallet address, transaction code and time of transaction for validation purposes.