Blockchain

The Complete Guide To Use The WAX Cloud Wallet

WAX Cloud Wallet

WAX Cloud Wallet is a simple yet powerful cryptocurrency wallet that allows you to log into WAX blockchain applications easily, without the need to manage private keys. It is available on desktop and mobile. It is convenient and secure – users’ credentials and digital assets are protected.

 

This article will describe the Wax wallet, its functionalities, how to use it, and finally, describe the Wax Eth bridge.



 

                                                                                                           

  

How do you create a WAX Cloud Wallet?

Creating a WAX Cloud Wallet account is very easy and can be done using an account on any major social platform. You will start the process of creating a wallet by going to wallet.wax.io and choosing one of the available login options. This automatically takes you to your wallet.

 

Your account name or wallet address is at the top right of the page and ends with ‘.wam’. 

wallet address

Before you are able to fully use your WAX account, you will have to add some funds/WAX to it.



How do you fund your WAX Cloud Wallet?

Funding your WAX account is very easy and can be done in three ways;

 

Buying WAX directly using your credit card

This is one of the easiest methods. Buying WAX using a credit card can be done directly from the wallet by clicking on the ‘Buy WAX’ button in the column on the right. The only downside to this method is the exchange rates which will be at times, not the best. 

 

Buying WAX on an exchange and sending it to your account

The second method to buying WAX is buying on an exchange and sending the WAX to your account. This method is most convenient if you already hold other cryptocurrencies, or if you want the best exchange rates. You can check the exchanges where you can buy WAX on CMC

 

Sending WAX from another WAX account

The last method to fund your account is by sending WAX from another WAX account. This method is only applicable if you already have another WAX account and want to have a WAX Cloud Wallet account.

 

 

What are the functionalities available on the WAX Cloud Wallet?

With Wax Cloud Wallet, you can;

 

Send WAX to another account

You can send WAX to another account by clicking ‘Send’ at the top right of the page on wallet.wax.io.

Send WAX

  • Choose Token to Send – Click on WAXP
  • Choose Amount to Send – You can input a dollar amount or WAXP amount
  • Choose a WAX Account 
  • Transaction Request – Approve the transaction
  • Confirmation of Transaction – Transaction will be visible in your wallet



Buy and send an NFT to another account

On your WCW, you can;

  • Acquiring NFTs from playing a game or interacting with a dApp
  • Purchasing NFTs on a marketplace
  • Have an NFT traded to you by someone else

Buy and send an NFT on Wax Cloud Wallet

 

Once you have NFT on your wallet, you can send to another account by;

  • Click into the NFT of your choice to view details such as mint number, collection name, asset transfer history, and more. At the top, you click ‘Transfer’.
  • Enter WAX Account info and click ‘Send’ to transfer assets. 
  • Transaction Request – Approve the transaction
  • Confirmation of Transaction



Staking your WAX Tokens

WAX Token holders can earn WAX Staking Rewards by staking their WAX Tokens and then voting. Right now, you can vote for WAX Guilds. You can vote every week to maximize your WAX Staking Rewards.

Staking your WAX Tokens

Use a dApp 

You can also interact with a dApp using your WAX Cloud Wallet. To start, navigate to the dApp you want to use, and click on the login button. If the option to connect with the WAX Cloud Wallet is available, click on it.



The WAX Ethereum Virtual Machine

Wax is building the WAX Ethereum Virtual Machine that will act as a way to establish a path for developers on Ethereum to use WAX’s technology and Proof of Stake (PoS) system to avoid high gas fees and lengthy transaction times.

 

With the use of the EVM, all smart contracts compatible with Ethereum can function on the WAX Blockchain without fees — and all of this while avoiding changes to the original coding and providing faster run times for smart contracts users.



What is the WAX Eth Bridge?

If you want to exchange ETH for WAX, or vice-a-versa, you might want to use the WAX Eth bridge. It is available and accessible through the Wax wallet and allows users to transfer assets either way. In addition, it enables the transfer of ERC20 tokens such as ETH, BUSD, USDT, and DAI.

 

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