What is Ronin Wallet? How to use Ronin Wallet

Ronin Network is an Ethereum scaling (layer 2) blockchain solution customized and designed for scaling NFT games, it was built by the Sky Mavis team behind Axie Infinity - A Blockchain Game from Vietnam.

To be able to get skin in the game with this blockchain, of course, you will need a Ronin Wallet. So what is a Ronin wallet? Where to create Ronin Wallet? In today's article, I will show you the details on how to create a Ronin wallet.

What is the Ronin Wallet?

The Ronin Wallet is where RON, RRC20 & RRC721 standard tokens are stored in the Ronin blockchain platform. RON is the native token of Ronin. You can send and receive RON, RRC20 & RRC721 standard tokens as well as interact with applications on the Ronin platform.

Ronin Wallet is the wallet used for the Ronin Network. Ronin Network is an Ethereum scaling (layer 2) blockchain solution. Ronin not only symbolizes the strong desire of the Axie team to grow but also brings many solutions to the essential needs of the GameFi community.

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

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

• Wallet address: A sequence of numbers and characters used to send assets to Ronin wallet. Others can transfer coins to you through the wallet address you provide. A Ronin wallet address (RON, RRC20, RRC721) will have the following format: 0x1569A5FE80122E5B8D1652A85F4c718062a1259C
• 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: shiver relax civil hole fun siren either excuse giggle impact either marriage.
• Private key: This is a string format to connect to the account, quite similar to the password of a bank account. Format of a Private Key: 0x55140c91be5d20a156bd614420e28aec2e887948ac0cca1e1e665d1f3440163a.

To make it easier to visualize, you can imagine that the Ronin 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 Ronin 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 a Ronin Wallet?

You can create a Ronin wallet through Coin98 Wallet.

Coin98 Wallet is a non-custodial & NFT Wallet that not only supports the Ronin platform but also many other platforms such as Ethereum, Polygon, Kusama, BSC, HECO Chain, Near, Avalanche (C-Chain & X-Chain), Polkadot, Cosmos, Terra, Fantom, Persistence, Bitcoin, TomoChain, Celo, Binance Chain, Tron, THORChain, BandChain, Kava, xDAI, Ronin, GateChain, Klaytn, OKExChain, KardiaChain, KuCoin Chain, Optimism, Arbitrum on Ethereum, Arbitrum on xDai, Boba Network, …

Because it is a decentralized wallet platform, users are in complete control of assets, no one has access to your wallet including the developers. You can rest assured when storing RON, RRC20 & RRC721 standard tokens here.

How to create a Ronin Wallet

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

Coin98 Mobile Wallet

Download and access the app

Coin98 Mobile Wallet currently supports users to store, send and receive RON, RRC20, RRC721 token standards from version 10.2.

Ronin Wallet is now available on the Coin98 Mobile Wallet for both iOS and Android users.

After downloading the app, you open the Coin98 Wallet application and select the language you want to use to directly access the wallet interface.

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

Create the Ronin Wallet (RON, RRC20 & RRC721 tokens)

Step1: Open the application, at the homepage click Manage.

Step 2: Click Add Wallet and click on the icon Ronin (RON, RRC20 & RRC721) to create a Ronin wallet or you can choose to create a Multi-chain wallet to own more wallets with the same 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: Backup the Passphrase/Private key in a safe place. 

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

• Copy and paste the Passphrase/Private key into the Confirm box.
• Tick ​​the box Backup your recovery key 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 when someone knows these sequences of characters.
• Tick ​​the remaining two 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 Ronin wallet.

Coin98 Extension Wallet

Installation instructions

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

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

Create the Ronin Wallet (RON, RRC20 & RRC721 tokens)

Step1: Open Coin98 Extension Wallet, enter the password. At the homepage click Manage. Click Add Wallet

Step 2: Select the Ronin 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).

Step 4: Backup 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 Ronin Wallet.

How to receive RON, RRC20 & RRC721 tokens into Coin98 Wallet

This operation is similar on both the mobile version and the extension, so you should refer to the ways below and follow.

Option 1

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

Step 2: Click Receive.

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

Option 2

Step 1: Click Receive on the main screen.

Step 2: Enter RON, RRC20 or RRC721 token in the search bar.

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

You can send RON, RRC20 or RRC721 tokens to the address copied in step 3.

How to send RON, RRC20 & RRC721 tokens from Coin98 Wallet

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

Step 1: Click on Ronin 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 sending.

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

Note:

• The gas fee for each transaction is paid with RON, approximately 0.000021RON
• The default gas fee on Coin98 Wallet has been set at the standard rate that offers the most optimized speed at a reasonable cost.

Some notes when using Ronin Wallet

Is it safe to store RON, RRC 20 & RRC 721 standard tokens on Ronin 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.

Is there a fee to send RON/ RRC20/ RRC721 tokens and transfer RON/ RRC20/ RRC721 tokens?

Sending RON, RRC20 & RRC721 tokens from the Ronin Wallet will cost the blockchain platform fee in RON to confirm the transaction. But the transaction fees on Ronin are very cheap and nearly insignificant.

Is it possible to create multiple Ronin wallets?

Of course! You can create as many Ronin 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 Ronin wallets.

Can Ronin Wallet store other coins?

Ronin Wallet can store RON, RRC20 & RRC721 standard tokens supported by the Ethereum blockchain platform. In addition, absolutely do not transfer any coins on other blockchain platforms to Ronin 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 Ethereum. Ronin Network is an Ethereum scaling (layer 2) blockchain solution customized and designed for scaling NFT games.

Hope the tutorial can help you to easily create and use Ronin Wallet on Coin98 Wallet.

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

See you in our future posts!

Learn more:  What is Elrond Wallet? How to use Elrond Wallet