Wallets, Wallets, Wallets
Explaining how we got comfortable with the wonderful world of (crypto) Wallets, and lost a little toad on the way.
You probably made it here because you are creating your first Wallet, yes? Or are you just a bit hazy on this whole Wallet thing and seeing if we can help? Either way lets give it a try!
Connect Your Wallet, whaaat?
Familiar? To get in the game the first thing I’m being asked for is “Connect Your Wallet” “Connect Your Wallet” “Connect Your Wallet”.
When first seeing this, admittedly I was having memories of my purse being stolen in Ibiza (a purse is like a wallet but less male dominated), but that was also kinda my fault (too focused on dancing).
This button “Connect Your Wallet” seems to be at every turn - so its natural to be concerned that now I’m being asked to voluntarily hand over the access to my so-called Wallet? Yeah it sounds crazy but breathe. Let’s get you through this. We did.
We recently broke the ice to ‘Connect Your Wallet’ and took our first small steps into crypto (and giant leap for humankind). We’re newbies too, just a few Web 3 novices (pioneers in the making) working on being a little more savvy…and we wanted to share what we are learning along the way to make it easier for other newcomers!
The Wallet thing is kinda a big deal, so I am going to give you some Pro Tips that I have learned the hard way (you are welcome!)
What is a Wallet and why do I need one?
Well, the same as in the real world, to store money.
And just like your real-world wallet, it is not a good idea to lose it or have 200 different ones.
Small flashback: I must have about 7 different wallets (I'm not exaggerating) from losing key super-secret phrases, making copies, using other apps... LIFE. In one of them, I had a little toad NFT, made with pixels, and now I can't access it. It's a sad story. But I will get it.
We want to help you avoid this Wallet-chaos!
Your first Wallet becomes your ID
If you’re doing this for the first time, you will need to choose a digital Wallet-app to go with (and there are tonnes of them!) We have recommendations coming up in the next section!
But what´s important to know first is that when you ‘Create Wallet’ for the first time so you can store crypto, you are creating an ‘address’ (…or more like an ID) which now lives on the blockchain. The blockchain (or blockchain(s)…as there are many of them actually) is where all the cryptocurrencies are minted, circulated and put into Wallets.
Your Wallet address or “ID” that is now on the blockchain, is the ultimate location where you will receive the crypto (and $POZ), and it looks like this long scary string of numbers and letters:
But don’t be scared - think of your Wallet-address as your ID, or your driver's license, one is enough. Nobody wants a thousand profiles. (Less so, apparently, me)
You should “Import Wallet” when getting into new Wallet-apps.
As we said, one ID is enough, but there are actually many Wallet-apps that you can put your ID into. This is one of the more confusing things we found out, that there is a difference between a Wallet as my “ID” and Wallets as apps.
Think of it like my Wallet-Address is my ID, but I can put my ID in many Wallet-apps. Just like in the real-world I have one drivers licence that I can transfer into different real-world wallets, bags, purses or those phone case card-holders which are the worst to lose.
When you try-out new Wallet-apps, you will get asked to either “Create Wallet” or “Import Wallet” if you already have one (that you created previously in another Wallet-app). Since you already created an original Wallet-ID, then choose Import Wallet or “I already have one” and stick to one Wallet-ID that can sit in many Wallet-apps.
Best to avoid this little trap of choosing “Get a new wallet” every time you get a new Wallet-app, otherwise you’ll end up creating new Wallet-IDs (new blockchain addresses) every time you install a new app - you only need one Wallet-ID to rule them all…Seriously, every new wallet is a new phrase to keep. No, thanks.
Your Wallet is a Public Address
Quick things you gotta know:
Blockchain is a record-keeping system
Blockchain sees all
Blockchain is 100% transparent and keeps track of all transactions and makes them visible to everyone. When you create a Wallet address, it is also “Public” and visible to all, and that includes everything inside the Wallet too.
It's okay to share your Wallet Address-ID
It's public, you can tattoo it on your face. The worst thing they can do with it is give you crypto. (#Yesplease)
The thing to get your head around, though, is that you (anyone) can actually view everything that’s in anyone’s Wallet because it is all stored as records on the Blockchain.
Here is a blockchain visualiser called Etherscan, where all public Wallet-Addresses and their transactions are viewable.
No idea who this Address actually belongs too though…we just clicked on the latest transaction on the Etherscan website. This level of visibility is kinda freaky - it has pros and cons and its one of the reasons why people in the crypto & Web3 space choose to use an alias or just keep their Wallet-address in the form of that long string of seemingly random numbers and letters, without any other forms of identification visible.
The important thing is now you are aware of it so you can think about your approach with it.
But, don’t share your secret phrase or keys!
Do you get that feeling like all the time that someone is going to steal your Wallet number? Yes, us too. But don't worry. That long string of numbers 0x5243g32532….. is ‘just’ a piece of public information that anyone can see and it’s ok to share it.
We get it, you are afraid to share this, but you also used to have a cringey nickname on your first social accounts when you were young. And with that you had no problem, so you should be fine with this right? The Wallet ID is safe to share.
…recovery phrase, key phrase, secret phrase, private key, wallet address, are these all the same, are they different, am I safe here?!
Wallet lingo 101
Take a moment to get clear on these 3 terms. And just remember - the Wallet Address (Public ID) you can share, but the rest is private and you should never share it.
Wallet Address - yeah this thing 0xed2dDDD251E291f1f2c61D8483cAfe7e9d88129c - public and fine to share
Secret Phrase - those 12 words - they are like a password - so they are your secret for your eyes only. These 12 words are what you use to Import Wallet into new Wallet-Apps. Words like cat dog mouse hat cupboard teacup etc… (also called key phrase, seed phrase, recovery phrase)
Don’t lose them. Those 12 words are precious.
They tell you not to screenshot these 12 words, but we did… (Frogzard has 7 wallets because its just not the safest thing to put the 12 words on paper in a book and lose the book. This is a true story.)
Finally, don’t share them, ever.
Private Key - another term and another string of numbers (this time private!) thats hard to get to and THE MOST SECRET THING YOU HAVE - just stay away from this entirely - so secret even you shouldn’t know it.
Now that you know the important boring bits - its time to choose which Wallet you want to wear that matches your outfit!
Which Wallet (app) is right for me?
We are so glad you asked. Let’s do a fashion parade of Wallets.
We also have to say that we have been changing our favourite as we have been researching (Indecisive by nature, but we want the best..)
For today we are going to focus on the most relevant Wallet-app choices for joining Pozzle Planet and receiving the $POZ that you earn, naturally!
Firstly, we like the Wallets that treat us well but also support our use of the blockchains with the lowest carbon footprints, like the Polygon blockchain.
The $POZ coin is currently residing on the Polygon blockchain to lower our carbon footprint vs. using the OG Ethereum blockchain. So to receive and see the $POZ in your Wallet-app, your Wallet-app needs to support Polygon - and only a handful do this currently.
We´ve shortlisted and recommended some Wallet-apps that support Polygon and display $POZ on your mobile device:
Our current recommendation for Pozzle Planet members is Trust Wallet. You can download Trust Wallet and follow the steps to get onboard with Pozzle Planet in our Starter Pack (yes, join us now this is gonna be fun!).
We chose Trust Wallet because, well, it’s pretty trustworthy from what we can see. Over 10 million users so far, and lots of genuine people promoting it, and a cool Twitter (1.2m followers and plenty of memes).
And of course, Trust Wallet displays $POZ by following a few easy steps to add $POZ as a Custom Token in their app.
Trust Wallet also displays your NFTs in a neat way. If you don’t really know or get NFTs yet that’s ok you just need to know that you’re going to need this feature for Pozzle Planet as we rollout our awesome NFT productions and collections! (Pozzle Suits anyone? Yes please!)
Not one Wallet-app to rule them all
Trust Wallet is not the only fish in the sea of course, but actually as of this moment it’s really the only one that fits the best for $POZ and Pozzle Planet.
We also have a shortlist of contenders in the Wallet-app race that we quite like, but are not quite recommending them yet:
Rainbow - Pretty, enticing, ooooo feels so nice. But on iOS mobiles, Polygon is not yet supported, so you won’t be able to see your POZ. However the beta version for Android works on Polygon so if you have Android you can use Rainbow for $POZ
Metamask - yeah the fox-queen. I know she's probably the most popular, the queen of the prom. (But I've never managed to retrieve an NFT little toad I got as a gift so obviously I'm not a fan). You can see your POZ when using Metamask on your desktop browser (a pain), but on the mobile you can’t change to Polygon network so you can’t display your $POZ on the mobile
1inch - Cool app we like this feel, and you can see your $POZ when you switch to Polygon, but its not on Android yet - and we love our Android friends
Coinbase - Even though this Wallet is part of Coinbase which is like massive with 60m+ users, we can’t switch to Polygon on the mobile app to display $POZ, so no not yet, dear Coinbase
We expect these Wallets to keep improving and adding more functionality over time so we will always keep an eye on which one is the best for the Pozzle Planet community and update our recommendations accordingly.
A little note on magic internet money
You might notice that some of these Wallets make other crypto-coins look very enticing, a bit like candy. But we just wanna say that we are not encouraging any of this. We are using these mediums available for Pozzle Planet so that we can distribute $POZ to our community, reward the good actions, and ultimately give $POZ financial value (more on this soon..).
Please be cautious in this wonderful digital world where seemingly the treasure is at the end of the rainbow, so to speak.
Now, you can, Connect Your Wallet!
Now that you’ve levelled up, we just want to quickly add again a little reminder to keep y’all comfortable: that all these fancy Wallet-apps are just like “displays” for your actual Wallet-address. It’s your Wallet-Address that is the true location on the blockchain that holds your crypto, and your $POZ.
Repeat: One Wallet-Address, many Wallet-Apps.
So when we transfer $POZ to your Wallet-Address it most certainly goes there, via a blockchain transaction, it’s just a matter of whether or not the Wallet-app you are using can display the $POZ or not.
And now the time has come…
Let’s Connect Your Wallet!
Thanks for reading today - we hope you feel more comfortable to Connect Your Wallet and can therefore help us expand the Pozzleverse together.
P.S. You will always be in my heart, Little Toad.
(Because in my Wallet I assure you that you're not.)