What is Moonbeam Wallet? How to use a Moonbeam Wallet

Moonbeam is an Ethereum-compatible smart contract platform on the Polkadot network. As a parachain on Polkadot, Moonbeam has the benefit of the shared security of the Polkadot relay chain and integrations with other chains that are connected to Polkadot. Moonbeam also supports familiar programming languages such as Solidity, Vyper…

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

What is the Moonbeam Wallet?

The Moonbeam wallet is where GLMR token and MERC20, MERC721 standard tokens are stored on the Moonbeam blockchain. You can send and receive GLMR tokens as well as interact with applications on the Moonbeam platform.

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

What is included in a Moonbeam Wallet address?

A Moonbeam Wallet has 3 extremely important pieces of information you must take note:

• Wallet address: A sequence of numbers and characters used to send assets to the Moonbeam wallet. Others can transfer coins to you through the wallet address you provide. A Moonbeam (GLMR) wallet address will have the following format: 0x920A856917dA5EFD8DC367B336CE787008C04Ef0.
• 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. Format of a Passphrase: heavy admit arena desert foil man mix illness audit observe magician bow.
• Private Key: A string of letters and numbers to connect to the account, quite similar to the password of a bank account. Format of a Private Key: 0xac74c70820e60c94139e648b90c88c8a4d54718f0341c6f38528f87bcc3385db.

To visualize, you can imagine that the Moonbeam wallet is a bank account, the wallet address is the account number and the passphrase is the password.

The difference here is that with a bank account, other people will know your personal information. As for the Moonbeam 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.

Moonbeam Wallet Review

There are many wallets on the market that support creating the Moonbeam blockchain. Let's take a look at some outstanding Moonbeam wallets in the crypto world.

Coin98 Super App

Coin98 Super App is a well-known super app containing crypto services, and it is the gateway of DeFi & Web3. After installing the Coin98 Super App, you can experience many of its features such as Dapp Browser, Terminal toolkit, Coin98 Staking,...  

Because it is a decentralized wallet platform, users are in complete control of their assets, no one has access to your wallet, including the developers. You can rest assured when storing GLMR tokens here.

Learn more: What is Coin98 Super App?

MetaMask

MetaMask is a decentralized wallet based on the Ethereum ecosystem, as well as an add-on plugin that allows users to run DApps right on its browser.

Metamask allows you to store GLMR and interact with Moonbeam dApps. Despite the disadvantages such as not being able to log in to many wallet addresses, as well as manually updating assets, MetaMask is still a trusted destination for many people around the world.

Create a MetaMask wallet here: How to use Metamask Wallet

AirGap

AirGap was one of the first wallets to announce its support for Moonbeam. AirGap has a two-device approach: AirGap Vault and AirGap Wallet. Users can even get higher security if they install AirGap Vault on a smartphone, which is completely offline with an air-gapped network and will hold the private keys.

How to create a Moonbeam Wallet on Mobile

This tutorial will guide you on how to create a new Moonbeam wallet on both the mobile and desktop interfaces, so you can also install both to flexibly switch use.

Download and access the Coin98 Super App

Moonbeam wallet is now available on the Coin98 Super App for both iOS and Android users:

• iOS: ios.coin98.com
• Android: android.coin98.com

After downloading the app, open the Coin98 Super App application and select the language you want to use before directly accessing the wallet interface.

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

Create the Moonbeam wallet

Step 1: Open the application, at the homepage click the Wallet icon → Manage.

Step 2: Click Add Wallet and click on the Moonbeam (GLMR MERC20 MERC721) icon to create a Moonbeam Wallet, or you can choose to create a Multi-chain wallet to own more wallets with just one passphrase (recommended) → Create. 

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 in a safe place.

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

• Copy and paste the Passphrase into the Confirmation box.
• Tick ​​the Backup 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 is at risk of being stolen if someone knows these sequences of characters.
• Tick ​​the two remaining boxes to confirm that you understand the risks if you lose your Passphrase.

Click Create Wallet.

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

How to create a Moonbeam Wallet on Desktop

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 right here.

Create the Moonbeam wallet   

Step 1: Open the Coin98 Extension Wallet and insert your password. At the main interface, click Manage. Click Add Wallet.

Step 2: Select the Moonbeam 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: Backup the Passphrase/Private key in a safe place.

Select Create Wallet.

How to use the Moonbeam Wallet

Add tokens

This process is similar on both the mobile version and the extension, so you can follow these steps for both.

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

Step 2: Click Receive.

Step 3: Copy the wallet address or use the QR code address and send your assets to this address.

Send tokens

This operation works the same on both the Coin98 Super App and the Coin98 Extension Wallet. I will give an example of how to send GLMR stored in the mobile wallet.

Step 1: Click the Moonbeam wallet.

Step 2: Choose Send.

Step 3: Select the token, insert 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 Moonbeam wallet you want to send from.

Note:

• The gas fee for each transaction is paid with GLMR, approximately 0.0021 GLMR.
• 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.

Use the Moonbeam Wallet Explorer to check the transaction history

Moonbeam Wallet Explorer is the Moonbeam ecosystem explorer, allowing access to information such as wallet addresses, cryptocurrency transactions, smart contracts, etc. Complex data is easier to grasp now than ever before.

Moonbeam Explorers that are commonly used by many users is moonscan.io.

Some notes when using the Moonbeam wallet

Is it safe to store GLMR tokens in the Moonbeam wallet?

Coin98 Wallet is a non-custodial wallet, that is, full control of assets belongs to you, no one has access unless you disclose the key to others. Therefore, it is perfectly safe for your assets.

Is there a fee to transfer GLMR tokens?

Sending GLMR tokens from a Moonbeam Wallet will cost the blockchain platform fee in GLMR.  

Is it possible to create multiple Moonbeam wallets?

Yes!  You can create as many Moonbeam 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 Moonbeam wallets. 

Can Moonbeam wallets store other coins?

Moonbeam wallets can store GLMR tokens supported by the Moonbeam blockchain platform. Otherwise, do not transfer any coins on other blockchain platforms to Moonbeam wallet if you do not want to lose your assets.

What is the best Moonbeam wallet app?

For those who mainly interact with Moonbeam, the EVM blockchain wallet such as MetaMask will be one of the options worth considering.

For those who use a lot of blockchain platforms and Solana is among them, the Coin98 Super App is a great choice for you.

Summary

With the fast development of the crypto market, you will see a series of potential DeFi projects appearing on Moonbeam. We hope the tutorial can help you to easily create and use the Moonbeam Wallet on Coin98. If you have any questions regarding this tutorial, 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!