1 Basic Terms
The most important thing to understand about your Nxt account is that you create your Nxt account using a private key in form of a passphrase. This passphrase will generate your account address, so your passphrase is your account. Unlike other cryptocurrencies, there is nothing like e.g. a wallet.dat.
The account address is needed to access your account, the passphrase is needed to access and use your account.
If you type in a different passphrase, you will open up a different account. If someone else types in your passphrase, they will access your account.
So be very careful with your passphrase!
With that in mind, here's how to create a secure account:
2 Creating a Nxt account address
If not done already, first install the Nxt client software on your machine and start your Nxt software. Once the Nxt client is running:
2.1 Using a passphrase generated by the client
Click on the green New? Create Your Account! button.
A strong passphrase made from 12 random words will automatically be generated for you.
If you want to use this secret phrase generated by the software, write it down, copy it to a safe place or memorize it. This is VERY IMPORTANT, since only this passphrase will give you access to your newly created account, and you can never recover it. After that, press Next.
2.2 Using your own passphrase
If you want to use your own passphrase, be careful and make sure you are picking a strong, secure passphrase. Do not create a passphrase until you clearly understand account security. If you do not appreciate how important this is, and make a mistake in this step, you will be robbed.
Simple passwords will be hacked and your coins will be stolen. A passphrase at least 35 characters long, or made up of at least 12 random words is recommended. For cryptographically strong passphrases run a proper tool on your local computer, such as the generator from https://defuse.ca/passgen.htm
- Again, your passphrase is your account. Using a different passphrase will lead to a different account, so you can never change your passphrase.
- There is no password recovery. If you lose your passphrase, you will lose access to your account.
- Do not share your passphrase with anyone.
Once you have generated a secure passphrase, type it into the text field inside of Create your account page, replacing the passphrase generated by the client, and click Next.
In the next page, you'll have to retype your secret passphrase to confirm you have it correct. Then click Next again.
Congratulations! Your account is created and you will see the Nxt Client interface. Your new account address (starting with NXT- ) appears in the upper left corner of the Nxt Client window. Please record your account address, this will be where other people can send Nxt to you.
Any time later, to double check and verify, that you have noted down / stored the correct details, there are two options, which work even before you fund your new account. Either you log into the Nxt Client with that passphrase, then you can verify that it opens the correct account. Or you can use the the Token Generator with any random text.
3 Register your public key
Initially there will be Warning:"Your account does not have a public key! This means it's not as protected as other accounts. You must make an outgoing transaction to fix this issue."
What needs to be done is explained in How-To:AnnouncePublicKey.