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Check out this link to activate the hotspot...
With the hotspot enabled and password defined.... Have your Nexus scan for the new wifi.
- use a good password to ensure that it's not compromised. You don't want to be known as offering free wifi to the world
- wifi drains the battery quickly on smart phones. You might find yourself needing to charge your phone more often.
- pay attention to your data consumption on your mobile plan, especially if you are paying roaming charges