Crypto Wallet
What is a Crypto Wallet? Where do I get one? Is the Wallet mine?
Good to know: Your wallet is yours and yours alone!
What is a crypto wallet?
Crypto Wallets are software for accessing and managing your account on a blockchain. Because blockchains are decentralized, your account is owned and managed not by a central entity but by you. WNDO has our built in wallet so you do not have to use an outside wallet or download anything else. You can transfer your WNDO, SOL, or USDC to any other wallet you may own. Just make sure its compatible with Solana's blockchain.
When you create an account on any wallet, you are given a set of 12 or 24 words. These words are your private seed. If you input those words on another computer, you will be able to access your funds. They are the keys to your account and should be kept extremely secure.
When your account is created, you also have at your disposal a public key – a set of random characters that represents your public identity on the blockchain. This is an address that you can share with others to receive payments such as your WNDO rewards or even if you want to send crypto to others.
What can I do with my WNDO wallet?
We have a built in a lot of functions into your WNDO wallet.
Send Crypto: To send crypto to another wallet "or person" all you need is their PUBLIC KEY that they can share with you or it can even be a QR code that they generate.
Receive Crypto: To receive crypto from another wallet "or person" all you need to do is give them your PUBLIC KEY and they can send you crypto.
Swap WNDO: We have a built in swap! This allows you to directly swap between WNDO, SOL, and USDC.
Add Liquidity: We have a built in liquidity feature that allows you to add liquidity to WNDO swaps and get paid fees based on the swap. You get a Liquidity Pool token back "like a receipt" showing your ownership of the pool. This token is also used to calculate rewards.
Stake: We have a built in staking feature that allows you to add your Liquidity Pool token(s) to gain even more WNDO rewards! "Kind like a savings account" 😉
Security basics and hardware wallets
If you are new or just starting your journey in the Crypto DeFi space, here are some security guidelines that you should be aware of:
Do not store your seed phrase online or on your computer. Write it down on a piece of paper and store it in a safe place. "Fireproof safe is a good idea"
If your seed phrase is not stored in a professional storing facility but in your house, keep a copy in another place for worst case scenarios (fires, floods, etc.).
Losing your seed will result in a loss of your wallet. No one will be able to access your wallet if you save your seed properly.
Invest in a cold wallet as early as possible. Cold wallets (or hardware wallets) are physical wallets where your private keys are stored safely and never shared with anyone. This is the safest way to store your crypto tokens.
Be careful when using DeFi as there are malicious actors. Always make sure to use official links, never share information about yourself or your accounts with anyone, and do your own research before moving your crypto in something new.
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