How to Create a Gulden Wallet | Step-by-step Guide
Are you looking for a secure and convenient Gulden wallet? Then you are in the right place. We are going to explain how to set up a new wallet for Gulden through 4 easy stages in this step-by-step guide by Guarda – a leading provider of non-custodial cryptocurrency wallets.
What is Gulden?
As Gulden was a fork from Litecoin, it uses a Proof of Work consensus mechanism and the Scrypt hashing algorithm. However, the NLG developers have endeavored to improve upon their blockchain technology through developing and applying DELTA, a custom difficulty adjustment algorithm. Furthermore, Gulden team did not stop there and introduced a new and improved successor of the PoW mechanism called PoW 2.0.
These major innovations leading to shorter transaction confirmation times, lower block generation rates, as well as an improved network security and stability, make NLG cryptocurrency one of the safest blockchains in the world.
By analogy to most altcoins, the value of Gulden is determined by its supply and demand and can fluctuate noticeably. The Gulden cryptocurrency has NLG ticker. The maximum supply of Gulden was set at 1680 million NLG to ensure a large supply of coins for the market.
Gulden coins are accepted by many merchants both online and offline not only in the Netherlands (its country of origin) but the rest of Europe as well, with international chains such as Subway accepting NLG as a legal payment form.
Gulden (NLG) price on CoinMarketCap.
How to store Gulden?
Nowadays, there are countless ways of storing your cryptocurrencies. It is even possible to store the money directly on the exchange but a proper reliable wallet will definitely enhance the level of security. With all the currently existing wallets it is hard not to get lost and confused. The Guarda team put together the main features you should take a close look at when seeking the right wallet.
Picking a secure wallet
Whether it is crypto- or fiat- currencies, anything that is connected with money should be secured with no excuse, shouldn’t it? Multiple useful features of the wallet will not do any good if the funds are not stored safe enough. When choosing a software wallet, try to stick to so-called non-custodial ones. In comparison to custodial storages, non-custodial wallets appear to be more reliable since they never keep or share with any third-party services the user’s personal data or private keys. This makes you the only person in charge of your money and eliminates the risk of information leaks and attacks followed by the fund loss.
Checking the update frequency
When dealing with digital products and services, you should remember the major principle: continuous development equals security. In order to preserve your crypto assets, try to find a constantly upgrading wallet. So, check before you trust! All the new features, updates, bug fixes and other improvements are usually announced by the team. Look through the wallet’s official website, social media pages and community chats for this type of news. If you encounter long silence, you’d better look for a more active development team.
Reading through the wallet reviews
Sometimes developers are quite good at disguising all the drawbacks and pitfalls of their wallets. That is why apart from the official website information, you may need to look through candid and unbiased reviews from other users. Go to the dedicated pages of App Store and Google Play if you’re looking for a mobile application or visit specialized review platforms like Trustpilot and CryptoCompare.
Nevertheless, do not forget to pay attention to the the way developers react to the feedback they get. Are their replies polite, fast and frequent? Or maybe they do not answer at all, do they? Then maybe you should find another place to store your Gulden tokens.
Joining the wallet community
You may be asking yourself: “Why do I need that?”. You would be quite surprised to know how much useful information you can find out there. If you are new to a cryptocurrency world, in such communities you will find professionals who will be more than happy to help you learn how to navigate in the sea of digital currencies. Most likely, they have answers to most of your questions and can give you tips on how to manage your money wisely. Check Twitter, Facebook, Telegram, Reddit, Discord, Steemit and GitHub in order to find like-minded people.
How to create a Gulden wallet?
In the following section, we are explaining how to create a new wallet for Gulden on Guarda. Our web version is perfect both for those who are new to the crypto space and, of course, for more experienced users. Guarda Wallet web version allows storing, sending, receiving, exchanging and purchasing over 40 major coins and more than 10.000 cryptocurrency tokens.
Create a Gulden wallet by following these 4 steps:
- Go to Guarda Wallet website main page and click Create Wallet;
- Think of a strong password for your new Gulden wallet;
- Download your backup and store it in a secure place;
- Your non-custodial Gulden wallet has just been created!
Step 1. The first thing you need to do is to click the button in the upper right corner of the Guarda Wallet website. Immediately, you are going to get redirected to the welcome screen. In order to proceed, please choose to create a new wallet once again. If you wish to learn some extra information on the Gulden wallet you are about to create, you can check the Web Wallet page.
Step 2. It is of great interest for you to make up a strong password for your Gulden cryptocurrency wallet. As long as you have a good password, you do not have to worry about your future wallet security. We recommend going for a combination of upper/lowercase letters, numbers and symbols. If you are not sure how to make your password meet all the requirements, please check this guide of ours.
Step 3. Please, download your backup and find a safe place to keep it. As we have already mentioned, Guarda Wallets are non-custodial. This means that we do not store your backups and cannot access them. Please make sure to save your backup file and never share it with anyone.
Step 4. Your new wallet for Gulden is all done! Now you can manage your coins in non-custodial security and use all the features Guarda Wallet team has prepared for you! Enjoy!