What is Osmosis Wallet? Osmosis Wallet User Guide (2022)

 334 total views

2022-12-04 06:48:47

What is Osmosis Wallet?

The Osmosis Wallet is where OSMO is stored in this blockchain platform. Users can send and receive Osmosis and transact on the Osmosis blockchain. In particular, this wallet is owned by the user, no one has the right to influence or use the wallet.

Osmosis is a Proof-of-Stake Blockchain built on Cosmos using Tendermint and the Cosmos SDK. In addition, Osmosis is also an application chain optimized to run AMM – a product known and used by many people, thereby putting the network’s TVL in the top 3 of the Cosmos ecosystem.

Currently, CHK is supporting creating and restoring Osmosis wallets to interact with this network, provided that you need an Osmosis wallet. This article will show you how to create an Osmosis wallet in detail.

What does Osmosis wallet address include?

In the Osmosis wallet there are 3 extremely important information to note:

  • Wallet address: Is a sequence of numbers and characters used to send assets to the Osmosis wallet. Other people can transfer coins to you through the wallet address provided. The Osmosis wallet address will have the following format: osmo1q0jvdjd39664cczfcahw9s8mxvqcnxn47fzldx
  • Passphrase: Is a security key that can be understood as a password consisting of any 12 English keywords. When you want to restore the wallet, the user must go through the Passphrase login step. The format of the Passphrase is as follows: repeat noodle replace hurry evolve siren control refuse alter wise half liar
  • Private Key: Is a string format for connecting to an account, quite similar to the password of a bank account. The format of the Private Key is as follows: 85cad5bbf3055f54d5de934feb08e743f0b992a4d91ee252ca883d9c2a5d6ffe

After creating the wallet, you will receive the wallet address, passphrase and private key similar to the example above.

For easy visualization, you can imagine Osmosis wallet as a bank account, the wallet address as the account number and the passphrase or private key as the password.

The difference here is that with a bank account, other people will know your personal information. As for the Osmosis wallet, users become anonymous, people do not know each other’s identities, but only transact through addresses encoded into a sequence of numbers and characters.

Instructions to create Osmosis wallet on mobile

Currently, the new Osmosis wallet appears on the CHK Super App version. The extension version will be updated in the future.

Download CHK Super App

First, download the CHK Super App to your device.

After downloading the app, you open the CHK Super App and select the language you want to use, so you can directly access the wallet interface.

At this interface, you can create a new wallet or restore an existing wallet from other wallet applications on CHK Super App.

Activate Osmosis blockchain

Step 1: At the home page, select More → Active Blockchain.

Step 2: Select activate Osmosis network and select Confirm.

Create Osmosis wallet

Step 1: Open the application, at the homepage click Manage (Management).

Step 2: Choose Add Wallet (Add Wallet) and click on Osmosis icon (OSMO) to create Osmosis wallet or users can choose to create a Multi-chain wallet to own more wallets with the same passphrase (recommended) → Create (Create wallet).

create osmosis wallet 1

Step 3: Give the wallet a name (name it something that you can remember or use later). Choose Next.

Step 4: Backup your Passphrase/Private Key in a safe place. (Note: This is extremely important information that directly affects your assets).

  • Copy and paste the Passphrase/Private Key into the box Confirm (Confirm).
  • Tick ​​the box Back up your recovery key and click on the copy icon to confirm that the Passphrase/Private Key has been saved. You must save 12 security keywords in a safe place and absolutely do not disclose to anyone. Otherwise, the account is at risk of being stolen when someone knows these sequences of characters.
  • Tick ​​the remaining two boxes to confirm you understand the risks if you lose your Passphrase/Private Key.

Choose Create Wallet.

create osmosis 2 wallet

Once done, you can also access Manage → Manage All Wallets to check the newly created Osmosis wallet.

Instructions to create Osmosis wallet on desktop

Install CHK Extension Wallet

Access chrome.CHK.com to install CHK Extension Wallet.

coin98 wallet extension

For instructions on installing and using CHK Extension Wallet, you can refer to here.

Create Osmosis wallet

Update soon…

Osmosis Wallet User Manual

Get tokens

This operation does the same on both mobile and extension wallet versions, so you can refer to the ways below and follow.

Step 1: Click on the Osmosis wallet on the main screen.

Step 2: Choose Receive (Receive).

Step 3: Copy the wallet address or use the QR code address.

get osmosis wallet tokens

Token transfer

This operation does the same on both CHK Super App and CHK Extension Wallet. In the following, the article will give an example of how to receive Osmosis stored in a mobile wallet.

Step 1: Click on Osmosis wallet.

Step 2: Choose Send (Send).

Step 3: Select the token and enter the number of tokens you want to send and the wallet address to send to. Adjust the gas charge slider to suit your needs. → Slide Send bar to confirm sending.

osmosis wallet token transfer

In addition, you can also go to the Send section in the main interface, select the wallet containing the token you want to send.

Note: Gas fees on Osmosis blockchain are calculated in Osmosis, you will lose less than 0.01 OSMO per transaction.

Osmosis Wallet Explorer needs to know to check transaction history

Osmosis Wallet Explorer are explorers (blockchain explorer) dedicated to Osmosis, allowing users to retrieve information such as wallet addresses, cryptocurrency transactions, smart contracts, etc. from complex data. You can consult the transaction data through the explorers below:

osmosis explorer

Some notes when using Osmosis wallet

Is it safe to store OSMO on Osmosis wallet?

CHK is a non-custodial wallet, which means that the control of the assets is completely yours, no one has access to the wallet except you or unless you disclose the key to others.

Is it possible to create multiple Osmosis wallets?

Definitely okay! You can create as many Osmosis wallets as you like, each wallet will have a different address and passphrase, so remember to save it. What should be named so that you can easily manage if you create multiple Osmosis wallets.

Can Osmosis Wallet Store Other Coins?

Osmosis Wallet can store OSMO coins powered by the Osmosis blockchain platform. In addition, absolutely do not transfer any coins on other blockchain platforms to the Osmosis wallet if you do not want to lose your assets unfortunately.

#Osmosis #Wallet #Osmosis #Wallet #User #Guide

Leave a Reply

Your email address will not be published. Required fields are marked *