Avalanche, since its inception in 2020, has been a force to reckon with in the entire crypto ecosystem. Interestingly, several analysts have also described Avalanche (AVAX) as the “Ethereum Killer”. That is the platform that will run the Ethereum chain out of business.
Avalanche (AVAX) also made quite an impressive entry in the blockchain space. The network was backed with funds from players like Three Arrows Capital (3AC), Dragonfly, Polychain, CMS holdings, etc. So, in this article, you will discover details of the Avalanche platform with a major focus on its compatible wallet platform. We would also review details like the safety of the Avalanche wallet, among others,
Before we move on, it is important to learn more about the Avalanche (AVAX) network.
What is Avalanche (AVAX)?
Avalanche has severally been described as a super-fast, cost-effective, and eco-friendly blockchain platform. It is also an open, programmable decentralized application (dapp) smart contracts platform. Furthermore, providing developers with an enabling environment to build low-cost and fast dapps.
Avalanche also boasts of top-notch scalability coupled with incredibly low fees. This alone is enough enticement for developers looking to build decentralized applications. Avalanche (AVAX) is currently ranked among the top players in the crypto sphere like Ethereum, Cosmos, Cardano, Polkadot, Solana, etc.
What is The Best Avalanche Wallet?
To seamlessly and securely make use of the Avalanche platform, users are expected to own an Avalanche-compatible wallet. These wallets range from web wallet browsers to hard wallets, etc.
Moreover, the Avalanche native wallet is one of the top wallet platforms users can make use of when using the Avalanche platform. It is an easy-to-use, secure, non-custodial wallet perfect for storing Avalanche assets. This means that with the wallet, users will be able to send, receive, and swap Avalanche assets. Apart from the Avalanche (AVAX) wallet, some of the other top Avalanche-compatible wallets include;
- Avalanche web wallet + Ledger Nano X hard wallet
- Coin98 wallet.
- Trust Wallet, etc.
What Is Trust Wallet? How To Use Trust Wallet For Avalanche User In 2022https://t.co/q1uUerxolt
— Avaxholic 🔺 (@avaxholic) August 20, 2022
Is Avalanche Wallet Safe?
The simplest answer to this question is Yes. Avalanche wallet is one of the safest non-custodial wallets available today. The wallet makes use of seed phrases to safeguard the wallet. Users need to safely store their seed phrase in a physical location to ensure they can recover their wallet at any time.
Avalanche wallet has a 24-word seed phrase. To recover or gain access to your Avalanche wallet, users need to arrange their seed phrase in sequential order. It is also important to note that you should not share your seed phrase with anyone.
How to Create Avalanche Wallet on Metamask
Metamask was designed majorly as an Ethereum wallet for ERC tokens. However, they can also be configured to function with other blockchains. Metamask is also one of the top Avalanche wallets available today. It also has a browser extension version and can also function on mobile (iOS and Android devices).
Therefore, creating an Avalanche wallet on Metamask is a fairly straightforward process:
- The first thing to do is to install the Metamask browser extension on either Google Chrome or Mozilla Firefox.
- Next is to set it up with a password and note down the recovery phrase.
- Click on the Add network tab, and add the Avalanche network.
Source – Avalanche
- You can also manually add in the network and then click on save. The network detail is as follows;
Network Name: Avalanche
New RPC URL: https://api.avax.network/ext/bc/C/rpc
Chain ID: 43114
Note: It is important to send AVAX tokens with the AVAX C-Chain.
Avalanche Wallet With Ledger
Avalanche also works well with hard wallets like the Ledger Nano X. The Nano X hardware wallet works well with the Ledger Live software and is also compatible Mac, Android, iOS, Windows, and Linux devices. To use Avalanche wallet with the Ledger Nano X hardware wallet, you need to;
- First, install the Avalanche wallet for the Ledger Live app catalog.
Source – Avalanche
- Once this is done, you will see the wallet on your hardware wallet
- Next is to visit the Avalanche Web Wallet and locate the “Access Wallet” icon. Locate and click on “Ledger” and confirm the wallet choice.
Source – Avalanche
- Once this is done, your Avalanche wallet with Ledger Nano X is set up and ready for use.
Avalanche wallet for Mobile (iOS and Android)
Avalanche wallets are compatible with mobile devices. Users can use the wallet with other browser wallets like Metamask that are also compatible with mobile devices. This in essence helps to improve ease of use and access.
Some top browser wallets that are also mobile-compatible include Metamask, Coin98, etc. Coinomi is also a top Avalanche-compatible wallet with a top-notch mobile version.
Binance With Avalanche Wallet
Binance is one of the top crypto platforms available today and the same can be said for its wallet. The wallet provides users with important features like auto-investing, Peer-to-Peer (P2P) trades, Decentralized Finance (DeFi), etc. Binance is also an Avax-compatible wallet. It also has iOS, Windows, and Android-supported versions.
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