Setting up wallet is always nerve wrecking for me. Afraid of making stupid mistake and lost it all
I ended up always try to receive small amount first in the wallet. Test if I can really send from that wallet, then only will I then feel safe to transfer the rest..
Afterwards it feel good though. Knowing that my savings is full reserve, not fractional reserve. Without any counterparty risk as well.
I would add two or three more steps. I would write down the first 5 words of the seed phrase. Then factory reset my HWW and create a new wallet. Only use the wallet if the second seed phrase is different!
Then after your first test "receive" transaction, you could also "send" a test transaction and then you could delete the wallet and recreate it by using the seed phrase. That way you can reduce the risk that your wallet is compromised.
