The fundamental essence of Ethereum Classic (ETC) currency lies in its Classic Ether value tokens, enabling storage, trading, and transactional use within your ETC wallet. Embarking on your journey, the pivotal starting point is the creation of a wallet. This guide outlines a succinct yet comprehensive step-by-step approach to unlock the world of ETC wallet:
Choose an official ETC wallet
Visit the official Ethereum Classic wallets’ websites to get started, then do some preliminary study. Jaxx, Classic Ether Wallet, Ledger Nano S, Ethereum Parity, and Mist are a few of the well-liked wallet options for ETC users. What options you need and whether you want a hardware or software solution will determine which you want to utilize.
Save and download your private key
Upon finalizing your wallet selection, you’ll receive a safeguarded private key, encrypted for added security. Upon downloading, it’s imperative to create a duplicate and store it in a secure location, whether on your hard drive, external USB, or designated folder. This precaution is vital, as a misplaced private key is irretrievable. Your private key will bear the distinct format “UTC–2017-14-20T17-00-45.922Z–bbccb11990575fdfed93faa41b18f12a368cfd97,” intended exclusively for your use. Guard its confidentiality and avoid sharing it, as divulging your password and private key could expose your funds to potential threats.
Utilize your private key to access your account
Now that you possess the key, it’s time to unlock the wallet. Insert the private password into the designated field of your ETC wallet and initiate the unlocking process. Your ETC wallet has been successfully generated and unlocked. Before you embark on transactions, ensure you obtain Classic Ether and deposit it into your account. This step is essential for future purchases of goods and services.
How to send Ethereum classic tokens
Following your click on the “Send” button on the ETC information page above, proceed as follows:
Step 1
Input the recipient’s Ethereum Classic address into the designated “Send to ETC address” box. If needed, include the Memo in the provided field.
Step 2
Specify the ETC amount you want to send. In Exodus, inputting USD instantly converts to ETC. A small fee (approx. 0.0001 ETC or 0.02 USD) accompanies the transfer, displayed above “Send.”
Step 3
Press “Send” to finish.
How to Receive ETC Tokens
Once you click “Receive” on the Ethereum Classic info page, you’ll be greeted by a screen like the one below. Here, your exclusive ETC public address is showcased, serving as the designated spot for incoming tokens. Share this address with senders, who can quickly scan the QR code if their app allows. Anticipate the arrival of ETC in your account approximately 15 seconds after the sender’s action.
Backing up your ETC wallet
Here are the instructions to create a backup of your account:
Step 1
Opt for the “Backup” selection in the menu and forge a robust access password. This password acts as your key whenever you enter your ETC account. Progress by clicking “Next” and re-validating the password.
Step 2
You will be shown a special 12-word phrase by ETC pocket. Never disclose this phrase to anyone; write it down in a safe place. When you click “Next,” ETC will ask you to select a word from your 12-word sentence. To complete the backup procedure, select the appropriate one.
(Note: This 12-word phrase is crucial since you need it to restore your ETC Wallet using the accounts and addresses from a different device.)
Creating an ETC wallet involves three straightforward steps:
- Access an official Ethereum Classic wallet website.
- Safely retain your private key on your computer.
- Utilize your private key to unlock and access your wallet.
- Once unlocked, proceed to purchase Ethereum Classic through your preferred Exchanges, Brokers, and OTC Markets.
You can also find these articles helpful
Advantages and disadvantages of Ethereum Classic
How to trade Ethereum?
Buying Ethereum Classic – full guide
