What is Polkawallet Wallet? Detailed instructions for using Polkawallet wallet

• Overview of the Polkawallet . wallet
• What is Polkawallet Wallet?
• Features of Polkawallet . wallet
• Polkawallet Wallet User Manual
• How to create a Polkawallet wallet
• How to top up Polkawallet . wallet
• How to withdraw money from Polkawallet . wallet
• How to transfer money to another account from Polkawallet ví wallet
• How to stake money in Polkawallet wallet
• summary

Overview of the Polkawallet . wallet

What is Polkawallet Wallet?

Polkawallet Wallet offers multi-chain asset management, convenient staking, governance and many other DeFi services on a single mobile app. Similar to other wallet applications, the private key clusters will be managed by the users themselves without the intervention, monitoring or storage of any other parties.

Polkawallet wallet supports platforms and ecosystems such as Polkadot, Kusama, Acala, Karura, Statemine, Bifrost, ChainX, Edgeware, and Substrate. The Polkawallet application is available on all current mobile operating systems, iOS and Android. Users can download the app's APK file to install on other Android-powered operating systems and devices such as Windows 11, HarmonyOS, and Linux versions.

Features of Polkawallet . wallet

Types of properties

• Asset Information: Users gain insight into their aggregated assets on Polkadot parachains with just 1 touch.
• Transactions: Freely transfer assets back and forth through QR codes, contacts or just paste the recipient's address. Besides, users can check transactions with real on-chain data.
• Switch between nodes: Upgrade node connection, remote high-speed node connection in one step.
• Offline signature: Polkawallet supports both hot wallets and cold wallets. The hot wallet is used as a custodian wallet and has Internet access, but no private key. Cold wallets isolate the network and provide offline signatures via QR codes.
• Event news: Users can get updates and participate in events on the Polkadot ecosystem.
• History storage: Users can easily view account activities and details of transactions on Polkawallet.

Staking feature

Polkawallet makes it easier for validators and nominees to contribute, by making the graphs more intuitive and featuring a detailed history of each validator, for better analysis and research.

• Validation node analysis: Any case that does not comply with the consensus algorithms will be penalized by destroying part or all of the validator's stake, otherwise, if the performance is good, the reward will be awarded. The aggregator app analyzes those histories represented by graphs and data.
• Common operations: Support for many common operations such as bond/unbond, change controller, select reward type, nominate a button, withdraw payment... Users have enough operations related to staking on mobile wallets .
• Become a nominator: Users can nominate validators to do work on their behalf. When linking assets to validators, the nominator needs to perform ongoing due diligence and analysis.
• Related Information: Through transaction history, users can view records of staking-related activities. Through rewards or penalties, they can check past details of rewards and penalties.

Admin participation feature

Polkawallet provides a more intuitive and convenient access point to participate in administration. If there is a new referendum or proposal, users will be notified through the app so they can see the details. Users can then join the administration directly from Polkawallet and view the history of administrative profiles.

• Democracy: This app allows users to view proposals and vote for or against a referendum. Anyone can create a proposal by associating a minimum amount for a certain period of time.
• Board of Directors: The application allows users to vote for board members or nominate candidates for that position.
• Treasury: The app allows users to view proposals and vote for or against budget expenditures.
• Polkassembly: The discussion platform of governance mechanism in the Polkadot . ecosystem

Multi-chain connection

Polkadot is enabling interoperability between chains, regardless of their feature or status as a private or public chain. This interoperability allows different chains to easily exchange information, including valuable assets. This cross-chain connection can include privacy-oriented projects, forks, chains that require permission for operations, and more.

Polkawallet will follow in Polkadot's footsteps and continue to expand the cross-chain ecosystem, a module for the near future. This platform will quickly integrate suitable cross-chain applications and become more diverse in project colors.

• Multi-chain protocol support: Multi-chain communication protocol (XCMP) is integrated in Polkawallet so that transactions originating from mobile wallets between different parachains can interact with each other.
• User-friendly: Simplify the details of cross-chain calls. Specifically, the entire process is described in a concise, readable and traceable manner.
• Growth potential: The interaction between applications on different parachains will create a growth effect, while accelerating the development of applications in the ecosystem.

Polkawallet Wallet User Manual

An address is active when it holds a certain minimum amount on the Polkadot and Kusama networks, this amount is called an existential deposit (or ED). In Polkadot, the ED is currently 1 DOT, while on the Kusama network it is set at 0.0000333333 KSM. Different parachains will have different ED levels, traders will see this information in the remittance interface of the parachains that specify the ED for the account.

If the balance in the wallet is lower than ED, the account will be disabled (destroyed) and any remaining funds will be forfeited. To reactivate the wallet, the trader must deposit an amount larger than the existing deposit. However, canceled funds cannot be recovered.

How to create a Polkawallet wallet

Step 1: Download Polkawallet from the App Store.

Step 2: Run the newly installed Polkawallet application.

Step 3: Select “Create account” to create a new wallet account.

Step 4: Above is the user's wallet address, below are 12 words of mnemonic security, requiring storage in the correct order. At this step, users should manually save these words in a secure place (write by hand or save any note) and NEVER give this phrase to anyone because this is the code that directly unlocks their wallet. user.

In the Advanced section, users can change other encryption algorithms for their wallets. In the framework of the article, TraderH4 will guide according to the application's default algorithm.

Step 5: In this step, the application is helping users to re-verify the order and content of the 12 words mnemonic that they have saved. They can click select each word in the correct order (from 1 to 12), then click “Next” to continue.

Step 6: Name the account, in this example TraderH4. Note, this is a name for traders to manage individual accounts and this name can be used for trading. Please choose any name that is not duplicated to easily manage wallet accounts, then click “Next” to continue.

If the user's device has biometric security features (fingerprint, facial recognition and retina scan), after clicking “Next” the application will confirm with the current security feature that they using. If you only want to use the password, uncheck the box “Enable Fingerprint/FaceID”.

Step 7: Congratulations! This is the main interface of the application. The user has successfully created his first Polkawallet wallet account and can start using its functions!

How to top up Polkawallet . wallet

To fund a Polkawallet wallet account at the moment, traders follow the steps below.

Step 1: In the main interface of the application, select the currency you want to top up your account from the list of supported networks and platforms, by clicking on the wallet icon in the left corner of the application.

Step 2: By default the application is in Polkadot. The newly created user wallet will be supported on 8 different platforms and ecosystems: Polkadot, Kusama, Acala, Karura, Statemine, Bifrost, ChainX and Edgeware.

Step 3: TraderH4 will choose Karura as an example. Please select Karura from the left column. 

Step 4: Continue to click on the account (here TraderH4) on the right to activate the account on the network.

Step 5: In the main interface of the application, select the currency you want to top up your account from the displayed list. Here, TraderH4 will choose KAR (Karura's native token).

Step 6: At this interface, there will be information about:

• Total amount of KAR that the user has and the value converted to USD par value.
• Available: Number of tokens that users can trade
• Locked: Number of KARs that the user has locked
• Reserved: Amount of KAR locked to reserve

Please click “Receive” to get information to receive money into your account.

Users can choose between two ways to fund their account:

• QR code: Users save and transfer to depositors so they can use scanning to get the user's wallet address.
• Or the user can click "Copy" to send the address line over to the sender.

How to withdraw money from Polkawallet . wallet

Like other cryptocurrency storage wallets on the market, to withdraw money from the wallet, traders need to transfer funds to the exchange account and make withdrawals or trades from there.

How to transfer money to another account from Polkawallet ví wallet

To transfer money to another address, traders follow these instructions:

Step 1: TraderH4 will still use the example of Karura's KAR. To transfer funds, the trader presses the “Send” button.

Step 2: Users can paste the recipient's wallet address into the "To Address" box, then enter the number of tokens in the box below. The application displays information such as:

• Existential deposit: Existential deposit – the minimum amount that must be left in the wallet to be considered “Alive”.
• Estimated transfer fee: Estimated transaction cost. This fee may change up or down depending on the network situation at the time of execution of the transfer order.
• Keep alive: The system will automatically lock the existing deposit and not allow the user to make the order to change back to 0.

Next, click “Make Transfer” and follow the authentication steps.

If you have difficulty with manual operations, users can click the icon in the right corner to:

• Upload from gallery: Screenshot of the QR code of the destination address or recipient account.
• Scan QR code: Use your phone's camera to directly scan the QR code of the target account or recipient address.

How to stake money in Polkawallet wallet

Polkawallet wallet has built-in staking function for users. Currently supporting ecosystems and parachains are Polkadot, Kusama, ChainX and Edgeware. To stake in the wallet, investors only need to do the following:

Step 1: After the user chooses one of the 4 networks that support staking, in the main interface, click “MetaHub” in the menu bar below.

Step 2: At this interface, users can choose between Staking or Governance to use the staking feature or participate in the respective governance of the Polkadot network. Click on the “Staking” line to continue

Step 3: At this "Account Actions" interface, the system will display the following parameters:

1. The wallet account contains the money and its balance.
2. Account Controller of this transaction.
3. Bonded: Total amount staked by the investor.
4. Unblocking: The amount of coins being unlocked by the specified time.
5. Redeemable: Total bonus that investors can receive.
6. Available: The amount of money in the account that can be used to stake.
7. Payout: Click to select the stake payment schedule.
8. Reward destination and Change controller: Used to change the account receiving the reward, only available when there is a pending reward.
9. Change controller: Used to change management accounts, only available when users create or enter 02 or more accounts into the system.

Investors please click “Bond Funds” to start staking.

Step 4: At this interface, check your account information and enter the amount you want to stake.

Step 5: Investors click on “Reward” to set up rewards from staking interest:

1. Stash account (increasing stakes): Or simply, interest accrued deposits. For example, when you have staked 1,000 DOT and received a reward of 200 DOT, by the time of maturity, that reward will be added to the original amount to 1,200 DOT. Thus, the portion investors receive for the next period will increase to 240 DOT.
2. Stash account (without increasing stake): Or it can be understood that the deposit does not accrue interest. Contrary to the above, every time you receive a bonus from the system, the investor will receive it directly to the Stash account. The amount of 1,000 DOT staked will always bring them 200 DOT for each term like the example above.
3. Controller account: Same as item 2, but the bonus will be sent to the Controller account.
4. Specified payment account: Same as items 2 and 3, but investors will specify the account to which the bonus is sent from among the accounts they have entered into the system.

If you are satisfied with your choices, please click “Bond Funds” and complete the staking through the steps of selecting the validation buttons and confirming the staking.

summary

The Polkawallet project provides a one-stop service for cross-chain asset management, convenient administration and staking, and provides private keys owned by users themselves. As the entryway to the Polkadot network, Polkawallet wallet provides users with visual data and shows state changes to ensure the user's right to know and join the network, in order to provide users with a consistent experience. more convenient and convenient.

For more details about the Polkawallet wallet, visit the project's social media pages:

Website | Project Information | Twitter | GitHub