If you’re planning on holding your Tezos(XTZ) on your own wallet instead of leaving them on an exchange, then you’ve just made a very smart move and you’ve come to the right place.
Don’t have any Tezos(XTZ) yet? Grab some now:
Here’s a guide on how to safely backup & store your Tezos(XTZ) on multiple devices.
- How to store Tezos(XTZ) using the TezBox wallet(desktop)
- How to store Tezos(XTZ) using the Wetez wallet(mobile)
- How to store Tezos(XTZ) using the Ledger Nano S/Nano X (recommended)
How to store Tezos(XTZ) on the TezBox wallet(desktop)
- Head over to: https://wallet.tezbox.com/, and click on I ACCEPT.
- Click on CREATE NEW ACCOUNT
- Your wallet’s mnemonic phrase will then be displayed. Write down the 15 words on a piece of paper, then click on CONTINUE.
- Enter your wallet’s mnemonic phrase that you’ve just written down, and click on CREATE NEW ACCOUNT.
- Enter in a secure password. This password will be used to unlock your wallet on your desktop computer. Click on ENCRYPT TEZBOX.
NOTE: this password won’t be needed for restoring your wallet using the 15-word mnemonic phrase.
- Your wallet has now been created. You can now send funds to your TezBox wallet.
How to store Tezos(XTZ) using the Wetez wallet(mobile)
- Download and install the Wetez wallet app on your Android or iOS device from the official website: http:/wetez.io/
- Open the Wetez wallet app.
- Tap on Tezos token XTZ, and tap Next.
- Set a wallet name and a secure password, then tap on Confirm.
- Tap on Backup.
- Tap on Show Mnemonic, then type in your password.
- Tap on Confirm.
- Tap on Understood.
- Your mnemonic phrase will then be displayed. Write it down on a piece of paper.
After writing it down, tap on I have wrote it down.
- We will now verify if we wrote things down accurately. Tap on the words you’ve written down in the correct order.
After you’re done, tap on Confirm.
- You can now send funds to your new Tezos wallet. Tap on the 3 dots(⋮) on the right side of your wallet, then tap on Receive.
How to Store Your Tezos(XTZ) on the Ledger Nano S/Nano X
- Open up Ledger Live, and make sure it’s software version is up to date.
- Head over to the Manager section on the left side bar, and search up “Tezos”, then click on Install.
- Click on Accounts on Ledger Live’s left sidebar, then click on Add account.
- Type in “Tezos“, then click on Continue.
- Open the Tezos app on your Ledger Nano S/Nano X.
- Wait a few seconds for Ledger Live to synchronize.
- Add a new account. Enter in your preferred name, then click on Add account.
- You have now created a Tezos account on Ledger Live. Click on Close.
- On the Accounts tab on Ledger Live, click on your newly created wallet.
- Click on Receive.
- Click on Continue.
- Your Tezos(XTZ) wallet address will then be displayed.
Which wallet is the safest?
When using wallets that are installed on your computer or mobile device, there’s always a chance of hackers gaining access to your wallet’s private keys, no matter how secure you think your device is.
As always, regardless of what coin or token you’re storing, a hardware wallet like the Ledger Nano S or the Ledger Nano X is always heavily recommended. Since your private keys are locked into the hardware wallet device, your funds are safe even if your computer has hundreds and thousands of malware/viruses in it.
That’s pretty much it. You should be able to store your Tezos(XTZ) on your own wallets if you followed any of the instructions above. This is just the beginning though, as no matter how secure your funds is, you can still lose your funds if ever you fall for some tricks that scammers and hackers have. People get hacked and scammed all the time. We heavily suggest that you educate yourself on the common cryptocurrency scams, just to make yourself aware.