Crafting
What to do with all the resources you have gathered? Make use of the game's massive crafting system. You can enter the crafting section by pressing the [ . . . ] button (Inventory) in the rightmost section of the hotkey bar.
In here, select the icon with the workbench and an anvil in the top left corner. From there, you can select the categories of crafting available. When you pick up new resources, the list automatically updates to show you what items you may craft from said items. Here are a few noteworthy items to craft early on.
• The Workbench for example, is one of the most important crafting stations around. You need 10 wood to craft one workbench.
• The Furnace is another important piece for smelting ore into usable bars. You can craft one by standing near the workbench and using 20 Stone Blocks, 4 Wood, and 3 Torches to build a furnace.
• Aside from the Workbench and Furnace, another useful item that you could get is a Grappling Hook. The Grappling hook greatly aids traversal around the world and can anchor you to cave ceilings and allow you to mine. Just don't mine the block you are attached to or you will fall. You can make one from 3 Chains (which are made from crafting it from 1 Iron/Lead bar or finding it in some chests) & a Hook (Which drops rarely from various enemies but the weak enemies that drop it are Skeletons and Piranhas in the Jungle biome). If you have patience or indeed, luck, you may find gems underground. 15 of ANY of the gems will allow you to craft a Grappling hook with increasing capabilities. From least to best is Amethyst, Topaz, Sapphire, Emerald, Ruby, & Diamond. Diamond has the farthest reach and launches the fastest.
Quick Tip: You can tap and hold the Craft button when crafting a lot of items to speed up crafting.