Crypto Currency Part 3: Getting Setup With Your Crypto Wallet

Getting Your Crypto Wallet for HNT Deposit

Getting your crypto wallet setup in preparation for HNT deposits from your Helium Hotspot.

When you receive and walk through the setup process for the Helium Hotspot, it will provide you with a Helium wallet.  However this app is just a hold place for HNT and you cannot buy or sell that HNT.  So you need to have a wallet on one of the Crypto exchanges that supports HNT.

If you are already into Crypto, then I am sure you have your preferred wallet and exchanges…this post is not for you :P

If you don’t already have a crypto wallet that supports HNT…get setup with the following.

• 1.) Binance.us - https://accounts.binance.us/en/register?ref=54640102
• 2.) Coinbase - https://www.coinbase.com/join/knippe_r
• 3.) Crypto.com - 
• Use my referral link https://crypto.com/app/r3tv9ddx4d to sign up for Crypto.com and we both get $25 USD :)
• 4.) Uphold now supports HNT - www.uphold.com

I find Coinbase easier to use, but it does not currently support HNT, yet.  Both apps will walk you though the verification process.  Both will work with either the phone app or the online website.  Usually easier to do the verification processes via the phone app.

In both cases, use the link above to setup your account.  You will have to supply some identification documentation.  Usually your photo and a copy of at least your state issued ID, in some cases you may need to submit additional information to verify your identity (utility bill, SSN, etc).

It usually takes a few days for the verification process.  Expect a good 7-10 days, though it could certainly be quicker or longer than that.

Both will report tax related earnings (i.e. capital gains) to the IRS…unfortunately….these are essentially like investment accounts for crypto.

Once successfully verified with Binance.us, then you can get your HNT wallet ID.

• Goto the Wallet (either the wallet icon or the wallet menu) and select Balance.  Most likely you’ll have nothing there.
• In the Coin search box, search for HNT.
• This should bring up HNT in the search results.
• Select Deposit, this will bring up your HNT wallet address for Deposits.
• You can copy this for your records, or simply come back to this anytime.
• For now, copy this address and paste it into your iHub back-office, under Profile -> Edit HNT Wallet Address

What I plan to do is as HNT comes in from the network, I plan to leave some of it in HNT, then sell the rest and deposit it in my bank account via Binance.

Once Coinbase supports HNT….I’ll be moving away from Binance entirely.