Before you set up your first wallet, you need to understand the two main types. This is the most important decision you'll make, and it affects everything from convenience to security.
| Feature | Hot Wallet | Cold Wallet |
|---|---|---|
| Connection | Always connected to the internet | Offline / air-gapped |
| Format | Browser extension, mobile app, or desktop app | Hardware device (USB-like) |
| Cost | Free | $50-$200+ |
| Convenience | Instant access, one-click transactions | Requires physical device to sign transactions |
| Security | Vulnerable to malware, phishing, browser exploits | Keys never touch the internet |
| Best For | Daily transactions, gaming, small amounts | Long-term storage, large holdings |
| Examples | Xverse, Unisat, MetaMask, Phantom | Ledger, Trezor, Coldcard |
Start with a hot wallet for daily use and crypto gaming. It's free, takes 2 minutes to set up, and lets you interact with sites like SPUNK.BET immediately. If you accumulate significant value (over $500 worth of crypto), consider adding a cold wallet for long-term storage while keeping your hot wallet for day-to-day activity.
Not all wallets support all blockchains. Here's a breakdown of the four best free wallets and what each one is built for:
| Wallet | Blockchain | Best For | Supports | Platform |
|---|---|---|---|---|
| Xverse | Bitcoin | BTC, Ordinals, Runes, BRC-20 | Bitcoin L1, Stacks | Browser, Mobile |
| Unisat | Bitcoin | Ordinals, BRC-20, Runes | Bitcoin L1 | Browser, Mobile |
| MetaMask | Ethereum | ETH, ERC-20, DeFi, NFTs | Ethereum, L2s, BSC, Polygon | Browser, Mobile |
| Phantom | Solana + Multi | SOL, SPL tokens, Solana NFTs | Solana, Ethereum, Bitcoin | Browser, Mobile |
Xverse is the go-to wallet for anything on Bitcoin beyond simple BTC transfers. It natively supports Ordinal inscriptions, Bitcoin Runes (like SPUNK*BET), and BRC-20 tokens. The interface is clean and beginner-friendly, with separate addresses for payments and collectibles to prevent accidental spending of your inscriptions.
Unisat is another excellent Bitcoin wallet with strong Ordinals and Runes support. It's particularly popular with collectors and traders who want more granular control over their UTXOs. Unisat also has a built-in marketplace for trading inscriptions directly within the wallet.
MetaMask is the most widely used crypto wallet in the world. If you're interacting with Ethereum-based applications, DeFi protocols, or ERC-20 tokens, MetaMask is the standard. It supports all major Ethereum Layer 2 networks (Arbitrum, Optimism, Base) and compatible chains like Polygon and BSC.
Phantom started as a Solana wallet but has expanded to support Ethereum and Bitcoin as well. If you want a single wallet that works across multiple blockchains, Phantom is the most polished option in 2026. The mobile app is particularly well-designed.
We'll walk through setting up Xverse as the primary example since it's the best choice for Bitcoin-native gaming at SPUNK.BET. The process is nearly identical for all four wallets.
Go to the official website only (xverse.app for Xverse, unisat.io for Unisat, metamask.io for MetaMask, phantom.app for Phantom). Never download wallet extensions from third-party sites or search result ads. Bookmark the real URL immediately. Install the browser extension or mobile app.
Click "Create New Wallet." The wallet will generate a 12-word (sometimes 24-word) seed phrase. This is your master key. Write it down on paper immediately. Do not screenshot it. Do not save it in a text file. Do not email it to yourself. Paper only, stored somewhere safe.
The wallet will ask you to confirm your seed phrase by selecting words in the correct order. This ensures you actually wrote it down. If you fail this step, the wallet will generate a new phrase. Do not skip or rush this step — your seed phrase is the only way to recover your wallet if something goes wrong.
Create a strong password for the wallet extension itself. This password encrypts your wallet locally so that someone with access to your computer can't open it. Use at least 12 characters with a mix of upper/lowercase, numbers, and symbols. Use a password manager if possible.
Copy your wallet's receive address and send crypto to it from an exchange or another wallet. For Bitcoin wallets (Xverse, Unisat), you'll need BTC for transaction fees even if your main goal is using Runes or Ordinals. Start small (a few dollars worth) to verify the address works before sending larger amounts.
Crypto wallets give you full control of your money — which also means full responsibility. There's no bank to call if you make a mistake. Follow these rules without exception.
Treat your seed phrase like cash in an envelope. If someone finds it, they have your money. If you lose it and your device breaks, your money is gone forever. There is no "forgot password" in crypto. Store your seed phrase in at least two separate physical locations.
Your seed phrase (also called a recovery phrase or mnemonic) is the only backup you need. Here's how to handle it properly.
| Method | Security | Durability | Cost | Recommended? |
|---|---|---|---|---|
| Paper (handwritten) | Good | Low (fire/water risk) | Free | Minimum baseline |
| Laminated paper | Good | Medium | ~$5 | Yes, improvement over plain paper |
| Metal backup plate | Good | Very High (fireproof) | $20-$60 | Best physical option |
| Password manager | Medium | High (digital) | Free-$5/mo | Acceptable secondary copy |
| Screenshot / text file | Very Low | Low | Free | Never. Absolutely not |
| Cloud storage | Low | Medium | Free | No. Too many breach vectors |
Important: Your seed phrase works across compatible wallets. A seed phrase from Xverse can be imported into any BIP-39 compatible Bitcoin wallet. A MetaMask seed phrase works in any Ethereum wallet. You are not locked into one app forever.
Once your wallet is set up, you're ready to start playing at crypto casinos like SPUNK.BET. Here's how the connection works.
Visit spunk.bet and claim your free 10,000 SPUNK from the daily faucet. No wallet connection is required to play — SPUNK.BET uses a balance system with free runes. When you're ready to claim runes on-chain or receive ordinal prizes, you'll simply provide your Bitcoin wallet address (Xverse or Unisat recommended).
For other crypto gaming platforms, the typical flow is:
Set up your wallet, claim free SPUNK daily, and play 10 provably fair games. No deposit needed. Your crypto, your keys, your rules.
Start Playing With CryptoNo. SPUNK.BET gives you 10,000 free SPUNK runes every 24 hours through the faucet. You can play all 10 games without connecting a wallet or making any deposit. A wallet is only needed if you want to receive on-chain rune payouts or ordinal prizes to your own Bitcoin address.
If you lose your seed phrase and your device breaks or you uninstall the wallet, your funds are permanently lost. There is no recovery option, no customer support, and no way to reset it. This is why storing your seed phrase securely in multiple physical locations is absolutely critical. Write it down before you fund the wallet.
Xverse is the recommended choice for most Bitcoin users in 2026. It has the best user experience for managing BTC, Ordinals, and Runes in a single interface. Unisat is a strong alternative if you want more advanced features like direct UTXO management and a built-in inscription marketplace. Both are free and take under 2 minutes to set up.