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Lesson 2: How to Setup Token Wallet Address

Token Address Setup on Trustwallet

How do you setup new token wallet address? If you are new in Crypto there’s so much to learn. These are not things you will figure out yourself. You need someone to guide you.

This guide applies to shitcoins. Most new tokens to be launched or even newly launched shitcoins don’t always have their token address setup on Trustwallet.

In case you don’t already know, newly launched tokens are called shitcoins, especially those ones with very high volume of a billion and above.

You don’t get to find those shitcoins on major crypto centralized exchanges (CEX). So, the only places you can find them to buy are from decentralized exchanges (DEX).

Since these tokens are only available on decentralized exchanges, you need to learn how to buy them.

✅ Crypto Lessons Table of Content

Before we continue, if you missed any of the lessons go back and go through it first. Here is the table of content to help you navigate through the entire course from any part of this lesson.

?️INTRODUCTION – Learn Cryptocurrency Investment
?️Lesson 1: How Cryptocurrency Investment Work
?️Lesson 2: How to Setup Token Wallet Address
?️Lesson 3: How to Claim Free Cryptocurrency
?️Lesson 4: How to Trade Cryptocurrency
?️Lesson 5: How to Pick Cryptocurrencies to Buy
?️Lesson 6 How to Farm Cryptocurrency
?️Lesson 7: How to Sell Cryptocurrency

So, this lesson and the other lessons will focus on teaching you WHAT TO DO. So much theory will be overlooked and the focus would be on practical.

✅ What’s Token Address?

To start creating token address, you need to know what we are actually talking about. What’s a Crypto wallet address?

When buying crypto you need a wallet to store them. These wallets assign address to each individual token you buy. This address also makes it easy to transfer or sell these tokens.

Every token is linked to a unique contract address. No two tokens or coin can share the same contract address, usually abbreviated as CA. Sometimes, it’s referred to as smart contract address.

Each wallet address is linked to this contract address. That’s how any Blockchain network or Exchange would recognize the token you are buying or selling and to identify the wallet to send it to.

✅ How to Setup Wallet Address

The first thing you need to do when setting up a token wallet address on Trustwallet or any other compatible wallet, like Metamask, is to know the parameters required to set it up.

Once you know what you need, the next step would be to know how to set it up.

Here are what you would need below:

?️Blockchain network the token is built on (Important)
?️Contract address (CA) of the token (Important)
?️Name of the token (Optional)
?️Token symbol (Optional)
?️Token decimal number (Optional)

Just for Example – NFTSEA Contract Aaddress on EtherScan:

?️Blockchain Network: Ethereum ERC20
?️Contract Address (CA): 0x5b31B8cA1770CF1F817146B4cD2078Bf8629bf8a
?️Name: NFTSEA
?️Symbol: NS
?️Decimal: 18

Those I branded important are a must. If you don’t know them you can’t even setup the address on Trustwallet or any other wallet for that matter. But those I regarded as optional simply means you can bypass them.

Trustwallet can let you pull out these optional parameter if you don’t know them. That’s why I consider them optional. It’s no that they are not required or can be omitted. They are required, if not, the address won’t work.

✅ How to Find Token Contract Address

Among the two important parameters for setting up a token Address, the contract address is very sensitive. You need to have the correct address or nothing would work.

It’s easier to know what Blockchain network a token is built on because it’s usually more publicized than contract address. But you have to ensure the contract address it’s the right and correct one for the token you want to setup.

Like every kind of address, it must be correct. It’s better to COPY it directly from where it’s found than writing them down. The numbers can be tricky and complicated to write down.

Here are two popular places to search for token contract address using the name of the token:

?️BSC Network: bscscan.com
?️Ether Network: etherscan.com

✅ Steps to Setup Token Address

♦️Step 1: Open Trustwallet & Click On Token Search Button

 

♦️Step 2: Scroll Down And Click On Add Custom Token

♦️Step 3; Select Token Blockchain Network

♦️Step 4: Copy & Paste Contract Address Using Paste Button

♦️Step 5: Click On DONE

Note: If you paste the contract address and the other parameters didn’t populate, you can add them manually. However, be sure that you are using the right contract address, and you selected the right Blockchain network.

✅ Conclusion

If this is your first time of doing this, kindly drop a comment below. It will be appreciated. You can also share briefly your experience in Crypto.

? Start earning over 1,000% in digital farming with POSITION EXCHANGE. Use this link swap, stake or farm POSI Token, click to link account or copy to paste in your TrustWallet or Metamask DAPP to connect to Position Exchange 

? Get a crypto account with Binance Exchange. click link below to register

?️Disclaimer: Crypto investment generally is volatile. This post doesn’t encourage a risk-free investment. You have to consider all your options and possibly Do Your Own Research (DYOR) before investing in any crypto project.

Chinedu David
About The Author: Chinedu David An inspiring writer with several years of experience in journalism, consulting and training. Worked with Success Digest magazine for over a decade. Founded MyStore - an online store in 2013. Trained several startup entrepreneurs in telecom sector, LPG (oil & gas), and on Cryptocurrency investment. A born again christian, who's committed to spreading the gospel of Jesus Christ with passion. Drop a comment below and he will respond to your query. He can also be reached via email: nedu@myblog.com.ng or Call/Text/WhatsApp: 07087770518
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8 Comments
  • […] Lesson 2: How to Setup Token Wallet Address […]

  • […] Lesson 2: How to Setup Token Wallet Address […]

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  • MyBlog Feb 28,2022 at 7:44 pm

    […] are the steps you can follow to setup a new token address, provided you already have the parameters described […]

  • MyBlog Jan 31,2022 at 1:05 pm

    […] ?️Step 1: buy BNB from Binance or any other exchange and send it to your Smart chain BNB wallet on your Trustwallet. […]

  • MyBlog Dec 16,2021 at 8:55 am

    […] – Learn Cryptocurrency Investment ?️Lesson 1: How Cryptocurrency Investment Work ?️Lesson 2: How to Setup Token Wallet Address ?️Lesson 3: How to Claim Free Cryptocurrency ?️Lesson 4: How to Trade Cryptocurrency […]

  • MyBlog Nov 13,2021 at 2:55 pm

    […] 1: How Cryptocurrency Investment Work Lesson 2: How to Setup Token Wallet Address Lesson 3: How to Claim Free Cryptocurrency Lesson 4: How to Trade Cryptocurrency Lesson 5: How to […]

  • MyBlog Nov 13,2021 at 2:46 pm

    […] – Learn Cryptocurrency Investment Lesson 1: How Cryptocurrency Investment Work Lesson 2: How to Setup Token Wallet Address Lesson 3: How to Claim Free Cryptocurrency Lesson 4: How to Trade Cryptocurrency Lesson 5: How to […]

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