In order to trade, you need funds, to hold funds you need a Wallet. On Solana, there are a few wallets you can use but here I will use Phantom Wallet which is the #1 Wallet provider on Solana. First of all, visit https://phantom.app/ and download the wallet from the website.
It’s a browser extension. Then you will have to set up a password you should use a really strong password, I’m usually running 24 characters minimum, no words, with uppercases and lowercases, numbers, and special characters. Here is a random example (DO NOT USE IT)
If you’re not used to strong passwords, you might be wondering how do I remember it? I don’t. I’m using a password manager, 1Password.
It works using a Master Key, so you have to remember only 1 strong password, and then you can unlock the software and access your other passwords. It’s not needed to use a passwords manager and to set up passwords that strong, but when it comes to money and with all the hacks happening every day I prefer to play it safe. Let’s get back to Phantom!
Once you have set up your password, you will receive the most important sequence of words of your life. The Recovery Phrase, aka the only way to recover your wallet if you ever lost it. So PLEASE write down those words in the correct order and hold them carefully !! And voilà! You’re finally ready to trade!
NO ONE SERIOUS WILL EVER ASK FOR YOUR PASSWORD OR YOUR RECOVERY PHRASE PLEASE DO NOT SHARE THESE WITH ANYONE EVER! NOT EVEN YOUR FRIENDS NOT EVEN ‘DEVS’ OF A PROJECT!