Electroneum claims to be a “a leap forwards in the accessibility of cryptocurrencies,” and for that reason, it has become widely popular for those just entering the world of cryptocurrency following the latest Bitcoin boom.
Since Electroneum uses the CryptoNight algorithm, you can mine it with the same hardware you might use to mine Ethereum or other popular currencies. As a bonus for those without that hardware, it’s also possible to mine Electroneum using your CPU.
How to generate an Electroneum wallet
But before you can even consider mining (which we’ll describe in a separate tutorial), you need to get a wallet — or, in reality, just a collection of keys that you can use to send and receive funds. As of now, the main Electroneum website recommends that users generate an offline paper wallet. For those new to crypto, that’s actually a great idea.
To get started, all you have to do is head to the downloads section of the Electroneum website. From there, you’ll see a couple options: browser version (which only works with Chrome for now), and the offline version, which also basically just a webpage.
If you’re using Chrome, Electroneum recommends that you open the “browser version” in an incognito page. This will ensure that none of your installed extensions might steal your keys. It’s also a good idea, after you’ve loaded up the webpage, to completely disconnect from the internet while you run the generator.
Keep in mind, you don’t want to lose your Electroneum paper wallet after it’s generated and you don’t want anyone else to get access to your private keys:
There is no way to recover your funds if you lose your wallet keys. Without your PRIVATE SPEND and PRIVATE VIEW keys you cannot ever recover your Electroneum so keep the PDF or paper print out VERY SAFE.
After you click start on the wallet generator, you’ll be presented with a page where you’ll be asked to move around your mouse. This might seem weird, but it makes sense if you think about it — Electroneum wants to make sure it has something to base your entirely private keys on that it doesn’t know about. The way you move your mouse around works perfectly.
After you’re done with this, your wallet should be ready. From there, you’ll be able to click download to get your PDF paper wallet. This PDF will include your private spend, private view, and public wallet keys so that you can view your balance, see your wallet on the blockchain, and send and receive funds. Make sure not to lose this PDF.
It’s most likely best to store this PDF on a USB drive or similar offline device, as well as print off a paper version to be stored somewhere safe and away from hazards such as fire. Remember, if you lose this wallet, you lose access to any and all Electroneum funds you might have. So be careful, and don’t keep your wallet on your PC where it might be stolen.
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