Currently, there are several wallets available on Algorand like Pera Wallet or MyAlgo, despite its incompatibility with Metamask. MyAlgo is one of the official wallets we support, which is also backed by the Algorand foundation.
How to set up MyAlgo wallet
1. Visit https://wallet.myalgo.com/
2. Click the “Access now” button
3. Go through the Terms of Service, continue if you agree.
4. Set up your password to use with the MyAlgo wallet ensuring all password requirements are met. At least one number and one character should be included.
For those who already have a wallet on Algorand, choose “Import Wallet”, and fill the words from your seed phrase
5. Once completed, you will land on a page similar to the one shown below.
Click ‘+Add Wallet/Account’ on the left.
6. Those who have not used Algorand before will need to select “New Wallet” in order to get the 25-word seed phrase. For those who already have an Algo wallet, please follow step 10.
7. Under each card, you will find 5 seed words. These words are revealed once your mouse cursor hovers over it. Click “Show All” or press “Copy” at the top right of the screen to display or copy your seed phrase.
8. You will have to match the correct words corresponding to the numbers. For example, “Word #9” has to match with the 9th word of the seed phrase. For this example, click the word associated with the 9th, 18th, 16th, 4th word of the seed phrase.
9. Once complete, you can now create your wallet and add a name to your wallet.
What is MyAlgo?
MyAlgo provides the simplest and most secure way to send and receive Algos and tokens, organizes, tracks, and manages your assets and much more. Your ALGOs in MyAlgo wallet will automatically generate staking rewards. Unlike other custodial wallets and exchanges, MyAlgo enables you to automatically earn rewards directly without requiring any actions from your side.
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About AlgoLaunch
AlgoLaunch is a fully decentralized launchpad based on the Algorand blockchain, incubating and accelerating Algorand based new projects and startups who want to grow with the Algorand ecosystem itself. AlgoLaunch will be the first Algorand based launchpad to help Algorand based projects raise funds throughout the IDO held at AlgoLaunch, and will be a frontier for Algorand ecosystem new coming projects.
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