Almost weekly, we hear about hacks in the crypto space. One way to keep your assets safe is by having a non-custodial wallet. These wallets give you full control over your assets. So, if you work with the Wax blockchain, you need a Wax Wallet. Hence, the Wax Cloud Wallet is what you are looking for.
In this article, we cover seven popular questions about the Wax Wallet. It is a simple and easy-to-use wallet. So, let’s have a look at this Wax Wallet.
🤔 If we'd airdrop 10,000 $WAXP to your wallet right NOW; What would you do with it?
Comment below & don't forget to add your WAX Wallet address ⏬
— WAX Blockchain (@WAX_io) September 14, 2022
What Is Wax Wallet?
Wax Cloud Wallet is the wallet that helps you connect with the Wax blockchain. This blockchain is the most eco-friendly blockchain around. It and its ecosystem are already carbon neutral. One of the blockchain’s NFT collections incorporated tree planting. For every dollar they collect from vIRL NFT holders, when they redeem their vIRL NFTs, they plant a tree. You redeem your vIRL NFTs for real life trees.
Other than that, the team built Wax to accommodate games, NFTs, and collectibles. On Wax, you can find, among others, dApps, games, and NFT marketplaces. Wax is up to 220,000 times more energy efficient compared to PoW chains.
How Do You Create a Wax Wallet?
Creating a Wax Wallet is easy to do. They offer desktop and mobile options, so you can take your pick. Here are the steps to create your wallet.
- Open this link to the platform.
- Click the “Sign Up for Account” button.
- Enter your email address and create a password. Repeat the password.
Source: Wax Cloud Wallet
- Now, the wallet asks you to fund the wallet with five WAXP. They offer various payment options. For example, credit cards and CEXes. If you already have a CEX account, you copy the “Funding address” and “Memo.” Look for the red arrows on the picture below. Buy five WAXP on your favored CEX and send them to your wallet. This will create an account.
Does Wax Wallet Have an App?
Yes, Wax Wallet is available for Android and iOS phones. We just explained how to set up your wallet. One of the advantages is that you don’t need to manage any private keys.
As a result, you have a wallet where you don’t have to deal with any technical blockchain details. You can still send your assets from your Wax Wallet to any other wallet in your control. Furthermore, transactions are free with near instant trading. To illustrate this, this video introduces this cloud wallet.
Is Wax Wallet Safe?
The Wax Wallet is a cloud-based wallet. In contrast to other crypto wallets, this wallet is different. When you register your account, there are no private keys. You can sign in to your account by using your social media accounts. For example: Google, Twitter, or Discord. Currently, they offer up to ten different options.
Experienced crypto users may find this strange. However, don’t forget that you still need to go through the usual sign-up steps. So, never hand out your wallet address and don’t use public networks to log in.
— WAX Blockchain (@WAX_io) April 12, 2022
Where Is the Wax Wallet Address?
You can find your wallet address in the top-right corner of your wallet. Your address ends with the “.wam” text.
How Do You Connect the Wax Wallet to MetaMask?
You can connect your Wax Wallet to MetaMask on the Ethereum or BNB chain. Start with adding WAX tokens to your MetaMask, and after that, you can bridge them over to MetaMask. Make sure to have some ETH in your MetaMask to cover gas fees. So, here is how to add the WAX token to your MetaMask.
- Open MetaMask and click “Import Tokens.”
- Add the Wax contract address in the “Search Token” box. 0x39bb259f66e1c59d5abef88375979b4d20d98022
- The WAX token symbol will pop up – click on it.
- Click next and import the token.
You can also add the WAXE token. Follow the same procedure as above, but use “Custom token” instead. The contract address is 0x7a2bc711e19ba6aff6ce8246c546e8c4b4944dfd. The token ticker, WAXE, will add automatically, but you can edit it if you like. Click “Add token.”
In addition, we need to use the bridge from Wax to Ethereum.
- Go to the Ethereum bridge in the Wax Wallet. To clarify, that’s on the left menu bar.
- Click the “Log in to MetaMask” button.
- Now you can swap WAXP to WAXE.
Source: Wax Medium
- Confirm the swap and approve the transaction.
- Now you can claim your WAXE. Just hit the “Claim” button.
- Confirm in MetaMask and pay the gas fees. As a result, you can now use this WAXE in DeFi with your MetaMask.
Wax Wallet vs. MetaMask
In short, the Wax Wallet is a good wallet. However, you can only use it on the Wax blockchain. On the other hand, on MetaMask, you can connect every Ethereum-compatible blockchain.
Above, we explained how to bridge WAXE to MetaMask. This gives you access to the Ethereum ecosystem. Both wallets are good and can exist next to each other. Once needed, you can connect them.
We explained seven common questions about the Wax Cloud Wallet. Now you know how to set it up and how to connect it to MetaMask. So, to summarize, here’s the current price for the mentioned tokens.
CoinGecko has the latest WAXP and WAXE prices for us. The current WAXP price is $0.090934. Also, the market cap is $198.4 million. Moreover, out of the max supply of 3.77 billion WAXP tokens, 2.18 billion already circulate.
WAXE goes for $90.52 per token. However, the market cap is not available. There’s also only information on the total supply of 3.7 million available, with no further info on the circulating supply.
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