1.3.1 How Do I Set Up My Wallet in PalWallet?
After you've navigated through the onboarding experience and tapped the "Let's Begin" button, you'll enter the authorization phase. Here, you have the option to either create a new wallet or add an existing one. Below are the detailed steps for each option:
1.3.1.1 How to create a New Wallet?
After tapping "Let's Begin" after the onboarding process, choose the "Create a New Wallet" option. This is ideal for users new to PalWallet without an existing digital wallet.
1.3.1.2 How to Name your New Wallet?
Enter a unique name for your wallet to easily identify it later; for instance, 'Main Wallet'.
1.3.2 How to Set Up On-Chain Encryption for Your Wallet in PalWallet?
On-chain encryption refers to the encryption of your wallet data directly on the blockchain. This adds an extra layer of security, as each piece of data is individually encrypted before being recorded on the blockchain. Enabling it ensures that your transactions and wallet information are securely stored and less susceptible to unauthorized access.
1.3.2.1 How do I enable on-chain encryption for my new wallet in PalWallet?
On the'Create wallet' page, after naming your wallet:
Locate the 'On-chain encryption key' option.
Toggle the switch next to 'On-chain encryption key' to the ON position.
NOTE: The security of your wallet is paramount. Always keep your recovery phrase in a secure place, and do not share it with anyone. On-chain encryption is a robust security feature, but the security of your wallet also depends on how you manage your keys and personal information.
1.3.2.2 How to Choose a Secret Phrase Length in PalWallet?
Select the desired length of your recovery phrase by choosing either '12 words' or '24 words'
Your choice will determine the complexity and security level of your wallet. A 24-word phrase offers higher security.
1.3.2.3 How to Securely Store Your Secret Phrase in PalWallet?
Carefully write down the Secret phrase presented to you.
Ensure you record the words in the exact order they appear.
Store this phrase in a secure and private place. It's crucial for recovering your wallet if needed.
1.3.2.4 How to Verify Your Passphrase in PalWallet?
Tap on the'Verify passphrase' screen when prompted.
Enter the words of your recovery phrase in the correct order as instructed.
Remember to never share your recovery phrase with anyone, and do not store it on devices that are connected to the internet to prevent unauthorized access. Your recovery phrase is the key to your wallet, and losing it can mean losing access to your assets.
1.3.3 How to Decide Between a Personal and a Merchant Wallet in PalWallet?
When creating your wallet, it's important to consider the purpose of the wallet. If you're setting up the wallet for business purposes, enabling the Merchant Wallet feature might provide tools tailored for commercial transactions. Always read the Terms of Service and Privacy Policy carefully to ensure you understand your rights and obligations.
1.3.3.2 How to Learn More About the Merchant Wallet Option in PalWallet?
Tap on the'What is it Merchant wallet?' pop-up or the 'Learn more' link.
Read the information provided to understand how a Merchant Wallet differs from a personal wallet and the additional features or benefits it may offer.
1.3.4 How to Proceed After Naming Your Wallet and Understanding Wallet Options in PalWallet?
If you decide to enable the Merchant wallet, ensure the toggle is set to ON (it will usually be highlighted or colored).
Check the box to confirm that you have read and accepted the Terms of Service and Privacy policy.
Tap on the 'Continue' button to proceed and you should see a message confirming that your wallet has been created successfully.
1.3.5 How to add an Existing Wallet?
If you're adding an existing wallet, select 'I already have a Wallet'.
In the “Import wallet” screen, type your desired wallet name into the “Main Wallet” text field.
You have three options: “Phrase” for a secret recovery phrase, “Address” for a watch-only wallet, and “Private Key” for full wallet control.
1.3.5.1 How to import a wallet using a secret phrase in PalWallet?
Tap on the “Phrase” tab and carefully input your existing Secret phrase, which can be either 12 or 24 words, depending on how it was originally set up.
1.3.5.2 How to import a wallet using wallet address in PalWallet?
Choose the “Address” tab and enter the public address of your wallet.
1.3.5.3 How to select the correct cryptocurrency for the wallet I'm importing?
Tap on the dropdown menu “Select Token”, then select the cryptocurrency that your wallet is associated with, such as Ethereum, Bitcoin, etc.
1.3.5.4 How to import a wallet using the private key in PalWallet?
Select the “Private Key” tab and input your private key.
Enter your private key in the field provided.
TapontheQRcodeicon which will prompt you to allow camera access. Allow it to scan the QR code associated with your wallet.
OncetheQRcodeis successfully scanned, agree to the terms and conditions and tap the “Import” button at the bottom of the screen.
1.3.5.5 How to use the QR code feature to import my wallet?
Tap on the QR code icon, which will prompt you to allow camera access.
Allow it to scan the QR code associated with your wallet.
Or “Select Photo from library” and select the QR code associated with your wallet.
1.3.5.6 How to proceed if the app does not detect the QR code?
If the QR code scan is unsuccessful, you will get a prompt saying “No QR code was detected, please try again or enter manually.” You should then choose to enter the wallet details manually or attempt to scan again.
1.3.5.7 How to proceed if the app does not detect the QR code?
If you are unable to scan the QR code, enter the wallet details manually by pasting the Phrase Key or Carefully type in your private key into the text box. The private key is typically a long string of alphanumeric characters.
After entering the private key, scroll down and ensure you have read and agreed to the Terms of Service and Privacy Policy by checking the box.
Press the “Import” button to add your wallet to PalWallet.
Remember, it's crucial to keep your private key confidential and never share it with anyone. Always double-check the information you enter to avoid errors during the import process.
1.3.5.8 How to give camera access to PalWallet if it was initially denied?
If you have initially denied camera access, go to your device settings, find PalWallet permissions, and enable camera access. Then, retry scanning the QR code.
1.3.5.9 How to resolve an 'Invalid secret phrase' error in PalWallet?
Re-enter the secret phrase, ensuring all words are spelled correctly and in the proper order.
1.3.5.10 How to use the wallet after importing it to PalWallet?
Once the wallet is imported successfully, you can start managing your funds and transactions within the app.
1.3.6 How to Agree to the Terms of Service and Privacy Policy in PalWallet?
Read through the Terms of Service and Privacy Policy by tapping on the provided links.
Check the box to confirm that you have read and agree to these terms.
