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What is Avalanche wallet? How to use Avalanche Wallet

What is an Avalanche wallet? Where to create an Avalanche Wallet? In today's article, I will show you the details on how to create an Avalanche Wallet.

linhha

Published Sep 22 2021

Updated Sep 21 2023

9 min read

Avalanche is a revolutionary blockchain that is created to build and scale decentralized applications. Developers building on Avalanche can easily create robust, reliable, and secure applications and custom blockchain networks with complex rulesets or build on existing private or public subnets.

To be able to skin in the game with this blockchain, of course, you will need an Avalanche Wallet. In today's article, I will show you the details on how to create an Avalanche Wallet.

What is an Avalanche Wallet?

The Avalanche’s primary network consists of 3 built-in separate blockchains:

P-Chain (Platform Chain) is a platform chain that implements the Snowman consensus protocol that helps coordinate validators and tracks active subnets.
X-Chain (Exchange Chain) is an example of the Avalanche Virtual Machine as a decentralized platform used to create and trade assets on X-Chain with other digital assets that have their own rules.
C-Chain (Contract Chain) is an instance of the Ethereum Virtual supported by Avalanche that allows users to create smart contracts using C-Chain's API. You will have to use C-Chain if you want to interact with DApps based on Avalanche.

There are many different chains, but in general, an Avalanche wallet is used to store coins, an Avalanche X-Chain wallet will store AVAX (X-Chain) and an Avalanche C-Chain wallet is where AVAX C-Chain, ARC20 standard tokens are stored on the Avalanche blockchain platform.

In particular, this wallet is owned by you, so no one has the right to influence or use the wallet other than you.

Avalanche Wallet has 3 extremely important pieces of information you must note down:

Wallet address: A sequence of numbers and characters used to send assets to the Avalanche wallet. Others can transfer coins to you through the wallet address you provide. An Avalanche wallet address will have the following format:
- An AVAX (C-Chain) wallet address has the similar format with an Ethereum or BSC wallet: 0x3cA8ac240F6ebeA8684b3E629A8e8C1f0E3bC0Ff
- An AVAX (X-Chain) wallet address has the format starting with “X-”: X-avax1tzdcgj4ehsvhhgpl7zylwpw0gl2rxcg4r5afk5
Passphrase: A security key that can be understood as a password consisting of any 12 English keywords. If you want to perform the wallet recovery operation, you must go through the Passphrase login step. For example: select pulp ring early turn crane order ridge chair please oil siege.
Private Key: This is a string format to connect to the account, quite similar to the password of a bank account. For example: 148e873931f90b207736a723afcd70f046ca337103f2e4ea7fffdd9f119e8fc.

To make it easier to visualize, you can imagine that the Avalanche Wallet is a bank account, the wallet address is the account number and the passphrase/private key is the password.

The difference here is that with a bank account, other people will know your personal information. As for the Avalanche Wallet, the user becomes anonymous, no one knows who owns the wallet, and transactions only occur through the address encoded into a sequence of numbers and characters.

Where to create an Avalanche C-Chain and X-Chain Wallet?

You can create both Avalanche C-Chain and X-Chain wallets through Coin98 Wallet.

Coin98 Wallet is an NFT & non-custodial wallet that not only supports the Avalanche platform but also many other platforms such as Ethereum, Solana, Tezos, Polygon, Kusama, BSC, HECO Chain, Near, Avalanche, Polkadot, Cosmos, Terra, Persistence, Bitcoin, TomoChain, Celo, Binance Chain, THORChain, BandChain, Kava, xDAI, GateChain, Klaytn, OKExChain, Ronin, Harmony, Tezos, Boba Network, Arbitrum on Ethereum, Arbitrum on xDai, Optimism, KardianChain, Harmony, Conflux,...

Because it is a decentralized wallet platform, users are in complete control of assets, no one has access to your wallet, even the developers. You can rest assured your AVAX and other ARC20 standard tokens are safe here.

How to create an Avalanche Wallet

This tutorial will guide you on how to create a new Avalanche (AVAX C-Chain & X-Chain) wallet on both the mobile and desktop interfaces, you can also install both to flexibly switch use.

Coin98 Super App

Download and access the app

The Coin98 Super App currently supports users to store, send and receive AVAX and ARC20 tokens.

Avalanche Wallet is now available on the Coin98 Super App for both iOS and Android users.

After downloading the app, open the Coin98 Super App application and select the language you want to use, then you’ll be directed to the wallet interface.

On this interface, you can create a new wallet or restore an existing wallet from other wallet applications to the Coin98 Super App.

Create the Avalanche Wallet (AVAX C-Chain & X-Chain, ARC20)

Step 1: Open the application, click the wallet icon at the bottom right corner, then click Manage.

Step 2: Click Add Wallet, then:

Click on the Avalanche (AVAX C-Chain, ARC20) icon to create an Avalanche C-Chain wallet, or create a Multi-chain wallet to own more wallets with the same passphrase (recommended) → Create.
Click on the Avalanche (AVAX X-Chain) icon to create an Avalanche X-Chain → Create.

Step 3: Name the wallet (name it something that you can remember or is convenient for later use). Click Next.

Step 4: Back up the Passphrase/ Private key in a safe place.

Note: These are CRUCIAL information that directly affects control over your assets.

Copy and paste the Passphrase/Private key into the Confirm box.
Tick the Back up your recovery key box and click on the copy icon to confirm that you have saved your Passphrase/Private key. You must save the security key in a safe place and do not disclose it to anyone. Otherwise, your account will be at risk of being stolen.
Tick the two remaining boxes to confirm that you understand the risks if you lose your Passphrase/Private key.

Select Create Wallet.

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

Coin98 Extension Wallet

Installation instructions

You can access chrome.coin98.com to install the Coin98 Extension Wallet.

For instructions on installing and using Coin98 Extension Wallet, you can refer to this guide here.

Create the Avalanche Wallet (AVAX C-Chain & X-Chain, ARC20)

Step 1: Open Coin98 Extension Wallet, enter the password. At the homepage click Manage. Click Add Wallet.

Step 2: Select:

The Avalanche C-Chain Wallet icon → Create Wallet.
The Avalanche X-Chain Wallet icon → Create Wallet.

Step 3: Create a name for the wallet (name it something that you can remember or is convenient for later use). Click Next.

Step 4: Back up the Passphrase/Private key in a safe place.

Select Create Wallet.

Once done, you can also go to Manage → Manage All Wallets to check the newly created Avalanche Wallet.

How to receive AVAX, ARC20 tokens into Coin98 Wallet

This operation is similar on both the mobile and the extension versions, so you can conduct these steps for both.

Option 1

Step 1: Click on the Avalanche Wallet on the main screen.

Step 2: Click Receive.

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

Option 2

Step 1: Click Receive on Wallet section or search icon on the main screen.

Step 2: Enter AVAX or ARC20 token names in the search bar.

Step 3: Click the icon to copy the wallet address or use the QR code.

You can send AVAX, ARC20 tokens to the address copied in step 3.

How to send AVAX, ARC20 from Coin98 Wallet

This operation works the same on both the Coin98 Super App and the Coin98 Extension Wallet. Here, I will give an example of how to receive AVAX and ARC20 tokens stored in a mobile wallet.

Step 1: Click on the Avalanche wallet.

Step 2: Choose Send.

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

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

Note:

The gas fee for each transaction is paid with AVAX, approximately 0,000521 AVAX.
The default gas fee on the Coin98 Super App has been set at the standard rate that offers the most optimized speed at a reasonable cost.

How to convert AVAX C-Chain to X-Chain and vice versa

Coin98 Wallet has integrated the SpaceGate Cross-chain Bridge with a leading technology that could “help blockchains to communicate with each other”, allowing users to trade tokens between 2 different blockchains easily and conveniently. Users can easily convert between AVAX C-Chain and AVAX X-Chain with the following guide:

Step 1: On the Coin98 Super App’s main interface, click Swap.

Step 2: Choose SpaceGate and choose AVAX C-Chain or X-Chain with the corresponding wallets.

Step 3: Input (or slide) the amount you want to convert. Then, click Convert.

Step 4: After that, there will be a confirmation step, you need to select Done to execute your order, or you can Cancel.

When the order is completed, you can check again at the Trade History icon or return to the home screen to see the balance.

How to swap AVAX or ARC20 token

How to AVAX or ARC20 token on the Coin98 Super App

Pangolin and TraderJoe are the decentralized exchanges (DEX) on Avalanche that offer users a variety of swap choices through intuitive and simple interfaces.

Step 1: On the Coin98 Super App’s main interface, click Swap.

Step 2: Choose Pangolin or TraderJoe to start trading.

Step 3: Click the settings icon at the top right corner of the screen and choose between 2 interface options: the Basic UI and the Pro UI.

Step 4: Slide the bar to adjust the trading amount then select Swap. Before swapping, please kindly check the information in the Review Order section → Swap to complete.

After swapping successfully, users can access the Trade History from the swapping interface to view their transactions or go back to the home screen to check the traded tokens if needed.

How to connect the Coin98 Extension Wallet to trade AVAX ARC20 tokens on Coin98 Exchange

Step 1: Access Coin98 Exchange - exchange.coin98.com.

Step 2: To select an AMM, please click one of the two highlighted positions in the picture below.

Choose Trader Joe or Pangolin.

Step 3: Select the tokens you want to trade in the token search bar.

We will take AVAX and USDC for this example but you can choose other tokens as needed.

Step 4: Choose the swapping amount. Before swapping, please kindly check the information in the Review Order section. Then select Approve (if this is your first time) → Swap to complete.

Step 5: Choose Confirm to confirm that you agree with the fee and want to make this transaction.

How to access Avalanche DApps through the dApp Browser on the Coin98 Super App

The Multi-chain DApp Browser on the Coin98 Super App is the gateway for users to experience multichain decentralized applications in a simple, fast and secure way.

The Coin98 Multi-chain DApp Browser has integrated many Dapps on the Solana blockchain.

Exchanges: Trader Joe, Pangolin, OpenOcean, Lydia Finance, HurricaneSwap,…
Finance: Benqi, Baklava,…
Games: Yay.Games
Farm and Stake: Yield Yak, Snowball Network, Beefy.Finance, Penguin Finance, DeFi Yield Protocol, Avaware,…
Launchpads: Avalaunch,…
Utilities: Markr.io, …
Cross-chain bridge: cBridge, RenBridge, Synapse, Multichain, iSwap …

The Coin98 Super App optimizes the user experience by arranging the DApps in the most intuitive and logical categories. Now, users can search and access their favorite DApps on the Avalanche ecosystem by following these steps:

Step 1: On the home page, click Browser.

Step 2: In the Dapp Browser, there are 2 options to access your favorite Avalanche Dapp:

Option 1: Enter the Dapp name or URL in the search bar.
Option 2: Click the Avalanche logo on the Dapp Browser’s main interface, and the integrated Avalanche Dapps will be shown according to the DeFi service they provide. After that, tap the DApp logo to access it.

FAQs

Is it safe to store AVAX, ARC20 standard tokens on Coin98 Wallet?

Coin98 Wallet is a non-custodial wallet, that gives you full control over your assets, no one has access unless you disclose the keys to others.

Is there a fee to send AVAX, ARC20 tokens and transfer AVAX, ARC20 tokens?

Sending AVAX, ARC20 tokens from the Avalanche Wallet will cost the blockchain platform fee in AVAX to confirm the transaction. But the transaction fees on Avalanche are very cheap and nearly insignificant.

Is it possible to create multiple Avalanche wallets?

Of course! You can create as many Avalanche wallets as you want, each wallet will have a different address and passphrase, so remember to save each of them. Each wallet should be named so that you can easily manage them if you create multiple Avalanche wallets.

Can Avalanche Wallet store other coins?

Avalanche Wallet can only store AVAX, ARC20 standard tokens supported on the Avalanche blockchain platform. Otherwise, do not transfer any coins on other blockchain platforms to the Avalanche Wallet if you do not want to lose your assets.

Summary

With the fast development of the crypto market, you will see a series of potential DeFi projects appearing on Avalanche. Hope this tutorial can help you easily create and use the Avalanche Wallet on Coin98 Wallet.

If you have any questions about the above steps, don't hesitate to leave a comment below! The Coin98 team will answer your questions as soon as possible.

See you in our future posts.