Coin98 Wallet - What is Coin98 Wallet? How to use Coin98 Wallet?

By F | Coin98 Wallet

coin98 wallet

During the release of Coin98 App, I received a lot of questions from many people about using wallet.

This article will help you better understand how to distinguish & use wallets on the Coin98 App.

First, I want to talk about Coin98 App, which is the product that the Coin98 team have been dedicated to make. It is a Decentralized Application (Dapp).

How decentralized is it?

Reply: Its decentralization lies in its wallet. Here you can simply understand that with private key (or phrase), you can access your wallet anywhere, and anytime without the control of another party. Even Coin98 cannot hold, and know your key.

Below I will explain more about the nature of this.

Coin98 Wallet

Coin98 Wallet is a wallet integrated on the Coin98 App. It helps you to receive, send tokens & directly participate in games, and event campaigns right on the Coin98 App.

On Coin98 App, you will see there are 2 parts to import wallet & there are 2 types of wallets: TomoChain & Ethereum. I will clarify these things for you to understand:

  • The wallet address is in the profile
  • Wallet in the Wallet section
  • Coin98 Wallet on TomoChain platform
  • Coin98 Wallet on the Ethereum platform

Wallet address in Profile (only used to receive C98 reward)

Guide

[1] Go to Profile.

[2] Click "Update the reward wallet here" & paste the TomoChain wallet address into it.

[3] Successfully, the balance of the tokens on the wallet will be displayed here.

Purpose
  • This is a wallet only used to receive C98 tokens that Coin98 gives when you complete the task.
  • Show the amount of C98 that you have received as rewards.

Important note:

  • Since this is the wallet that our team will transfer C98 tokens to you, here you can only enter the wallet that supports token storage on TomoChain platform. I suggest you use TomoWallet .
  • You only enter the wallet when Saving full Private Key & Passphrase. With this Private Key, you can login to any wallets supporting TomoChain to withdraw C98 from.
  • If Private key is lost, there will be no way to access the wallet. The Coin98 team also cannot interfere with this.

Coin98 Wallet

This is your area of ​​Coin98 Wallet.

Here you can create a new wallet, or Restore existing wallet to use.

About creating a new wallet or restoring a wallet, you can follow the instructions below.

Supports 2 Blockchain - TomoChain & Ethereum

The Coin98 App currently supports 2 Blockchain, TomoChain & Ethereum. You can switch between the two types of wallets. This is how to do:

[1] Click on the TomoChain icon at the top.

[2] Click Done to confirm the transfer.

[3] Successful switch,

Purpose of Coin98 Wallet

Here you can enter the Private Key to grant access to the wallet, and join the games, dapp, or other campaigns that will be available on the Coin98 App in the near future.

When participating in these games, services, or dapps, the corresponding tokens for each game will be deducted from your wallet.

Currently, Coin98 App is supporting 2 Blockchain, TomoChain & Ethereum, so users will be able to play games on these 2 platforms. In the future, our team will support more platforms to serve the needs of users.

Important note:

  • When creating or restoring an existing wallet, you must make sure that you save the Private Key or Passphrase.
  • You hold private key of your own wallet, and use it to grant access to other games, services or campaigns on the Coin98 App. Based on this feature, you have complete control over wallet operations. This is the decentralized characteristic of Blockchain generally.
  • The Coin98 team cannot access or do anything related to your wallet or private key. Revealing your private key to others can compromise your account (token) on your wallet.

Wallet and account are 2 things independent of each other

  • Your account is saved on the server
  • Your wallet is on the Blockchain
  • 1 device can only register 1 account
  • 1 account can create multiple Wallets
  • Recoverable account = phone number
  • The wallet can only be restored by using Passphrase, and Private Key
  • The wallet is not associated with an account, the account does not save the wallet, so you cannot restore the wallet with your account.
Why is it so complicated, and why do I have to use C98 on Blockchain?

High security, low costs, transparency and non-hackable:

  • The total supply of C98 cannot be increased
  • Transactions cannot be counterfeited
  • If the server crashes, C98 will remain
  • Transactions are completely transparent and public
  • Cannot hack C98 (only able to cheat to earn more)
Dapp system
  • Later, there will be more dApp games on Coin98, promising to provide many opportunities for C98 holders to earn gifts.
  • Blockchain's transparency will help the game make a difference with traditional games.
Ability of extension
  • C98 can be used outside of the Coin98 App system, like TomoWallet, or a website, a 3rd party application without API like traditional databases.
  • Despite coexisting with each other, Wallet and account are completely independent. Remember that your wallet is not affiliated with anything like your account, your phone number, and so on. Save Private Key/Passphrase to restore the wallet after logging in.

Summary

You can remember briefly like this:

  • The wallet address in the Profile section is used to receive C98 reward
  • The wallet in the Wallet section is used to play games, dapps, and other campaigns on the Coin98 App
  • You must save Private Key or Passphrase
  • With both of these wallets, if you delete the app, you'll have to log in from the beginning. This will help to best protect your account, and private key is completely held by you.

Next time, I will take the time to write the most basic tutorials for beginners to learn about the crypto market.

Hopefully, this article has helped you understand how to distinguish, and use the wallets on the Coin98 App.

Goodbye and see you again in the next article!

F

AI, Machine Learning, Big Data & Blockchain are 4 pillars of the current Technology Development.