If you’re a Yieldfund investor and looking to get 5% monthly returns sent to your crypto wallet, you’ll first need to know how to set up and manage your crypto wallet safely. Returns are distributed to investors every Monday, and you’ll need to know how to provide the right address from your crypto wallet.
But first, let’s explore what the best wallet options are, which one to select, and how to receive USDC payments securely.
- What is a crypto wallet?
- What crypto wallets to choose
- Software wallet (Hot Wallet)
- Hardware wallet (Cold Wallet)
- Exchange wallet (Hosted Wallet)
- How to create a wallet
- Setting up a software wallet
- Setting up a hardware wallet
- How to receive Yieldfund payments
- What do the first steps to €56,000 look like?
- Set up your account in minutes
- Choose the plan that fits your goals
- Start receiving weekly payments
- Your Yieldfund journey starts with your crypto wallet
- Frequently Asked Questions
- How to get a crypto wallet?
- How do crypto wallets work?
- How safe are crypto wallets?
What is a crypto wallet?
WA cryptocurrency wallet is a tool that allows users to store, send, and receive digital currencies securely. They are a type of decentralized application that acts as a digital bank account. The platform runs on blockchain technologies, validates transactions from nodes, and gives you complete control over your private keys – at least in some cases.
Private keys are a string of letters and numbers that grant access to your crypto holdings.
Depending on who owns the private keys, wallets can be custodial or non-custodial.
Non-custodial wallets: You have complete control over your digital assets as you hold the private keys. These wallets include Metamask, Trustwallet, or Ledger.
Custodial wallets: These are managed by third parties, and you don’t have ownership of your crypto. These include exchanges like Binance or Coinbase
What crypto wallets to choose
Choosing the right crypto wallet is key to managing your assets securely. Below, we’ll explore the types of wallets, their features, and popular examples to help you make an informed decision.
Software wallet (Hot Wallet)
Software wallets are digital applications or browser extensions that store your private keys online. Some of the more popular platforms include MetaMask, which is free, easy to set up, and accessible from anywhere with your private keys.
They support multiple cryptocurrency networks and can connect and interact with decentralized applications.
Some popular software wallets available for Yieldfund investors that accept USDC include Metamask, TrustWallet, Phantom, or Conibase Wallet.
Hardware wallet (Cold Wallet)
Hardware wallets, also known as “cold wallets,” are physical devices designed to store your private keys offline, offering an extra layer of security for your digital assets. Platforms like Ledger and Trezor provide robust protection, safeguarding USDC and other cryptocurrencies against phishing attacks and malware.
While hardware wallets offer unmatched security, they require more time, effort, and technical knowledge to set up and use. Each network must be manually added, making them best suited for long-term investors who prioritize holding their assets.
Exchange wallet (Hosted Wallet)
Exchange wallets, also known as hosted wallets, are automatically created for users when they sign up on an exchange platform. In these wallets, the exchange manages and secures the private keys on behalf of the user. This makes them an excellent choice for beginners and retail investors, as there’s no need to worry about losing private keys.
Having an exchange wallet makes it easy to receive and send USDC and other tokens on multiple chains. However, as the exchange controls the private keys, users must trust the platform to safeguard their assets. This reliance introduces potential risks, especially in the event of a security breach.
To mitigate these risks, it’s essential to choose a reputable, regulated exchange that operates in your region—platforms like Coinbase or Kraken are great examples.
How to create a wallet
Creating a wallet varies depending on whether you choose a hardware or software wallet. Here’s how to get started to receive payments from Yieldfund safely.
Setting up a software wallet
- Download and install the wallet from reputable sources, such as the App Store or Google Play.
- Create a wallet by opening the application, selecting ‘Create Wallet,’ and adding a password.
- Back up your seed phrase – writing down the 24-word seed phrase and storing it securely.
- Add networks – add the tokens and the necessary networks to see all incoming payments for their respective token.
Setting up a hardware wallet
- Get the wallet – use the official websites of the wallet manufacturer
- Set up the software – install the wallet’s software and connect and link it to your wallet.
- Generate a recovery phrase – during setup, the wallet will provide you with a recovery or seed phrase. Keep this private and secure.
- Secure the device with a PIN – select a unique PIN to access your device and avoid using a PIN that is shared with other devices.
- Create wallets – create individual wallet addresses for each network and confirm them on your device.
How to receive Yieldfund payments
If you’re a Yieldfund investor and are about to receive payments of 5% every Monday in USDC, here are the steps you should take to have a seamless experience:
Provide your public wallet address
When setting up your Yieldfund account, copy the public wallet address from your crypto wallet and paste it into the respective field. The address is unique and should correspond to the USDC address in your wallet.
Confirm address accuracy
Double-check your public wallet address to ensure no funds are sent to the wrong recipient.
Start receiving payments
Yieldfund payments are made every week. You’ll receive notifications, and you can verify the transaction on the blockchain.
What do the first steps to €56,000 look like?
Investing with Yieldfund is a simple process that requires only a few steps to complete. Here’s what you can expect when you join:
Set up your account in minutes
Your account setup is done directly through one of our investors relations managers. Simply schedule a quick onboarding call where Yieldfund team members will set up the investor dashboard for you.
Choose the plan that fits your goals
Select from a 1, 2, or 3-year investment plan.
- 36% annual return for 1 year
- 48% annual return for 2 years
- 60% annual return for 3 years
Start receiving weekly payments
Once your account is set up, the contract is signed and your initial investment reaches Yieldfund, you’ll start receiving weekly payouts. Your investment will work for you, week after week.
Yieldfund’s straightforward process eliminates the guesswork from investing, allowing you to focus on the results.
Your Yieldfund journey starts with your crypto wallet
Whether you’re a new or experienced crypto investor, mastering and understanding how crypto wallets work is necessary, especially when you want to receive payments from your Yieldfund investments.
Explore our Yieldfund quantitative investing company, choose your ideal investment plan, and start receiving regular USDC payments to your wallet.
Frequently Asked Questions
How to get a crypto wallet?
To get a crypto wallet, consider the type of wallet and storage you want to have. You can either purchase a wallet directly or install an app like Metamask.
How do crypto wallets work?
Crypto wallets work by storing your private keys, which provide access to your cryptocurrency assets on the blockchain. Transactions are authenticated using these keys.
How safe are crypto wallets?
Cryptocurrency wallets are safe if you follow directions to secure your wallet and protect your private keys. Custodial wallets aren’t always safe, as private keys are often controlled by third parties. For a non-custodial wallet, always set up two-factor authentication (2FA) and store your private keys offline.
