How to Use POINT with Wallets
In this article you will learn how to:
- Withdraw POINT from the sale platform
- Use POINT with Metamask
- Use POINT with Trezor hardware wallet
- Use POINT with Ledger hardware wallet
- Use POINT with Keplr wallet
- Stake your POINTs
Let’s begin!
How to Withdraw From the Sale Platform
It’s as easy as logging into sale.pointnetwork.io, clicking Withdraw button on the Point Wallet, entering the amount you need, your Point address to withdraw to, and clicking Withdraw.
But which address to put here? How to generate and access it securely? The first thing you have to understand is that there are two levels to Point Chain.
Two worlds
Since Point Chain is using Evmos technology to be compatible with all tools from the Ethereum world (and Evmos is using Cosmos SDK, and Cosmos SDK is using Tendermint — for curious minds), there are two blockchain formats for Point:
- EVM (Ethereum Virtual Machine), high-level implementation of Ethereum-style blocks and transactions. The explorer is explorer.pointnetwork.io, and the addresses are just like on Ethereum, starting with 0x. Here you will learn how to use Metamask with Point, and also Metamask+Trezor.
- Cosmos, low-level infrastructure for Proof-of-Stake. Here is where you can view low-level information about the network, validators, delegators, and learn how to stake your POINT to receive staking rewards. The explorer is cosmos.pointnetwork.io, and the addresses are starting with point-.
Which is more important? Most people will be aware of the Ethereum level only, including Point Browser. So in most cases, creating your Ethereum address will be sufficient.
Addresses are the same, they are just represented in different formats. For example, if someone sends you a point- prefixed address, and you want to send POINT from your Metamask (and vice versa), you can use this handy tool called Address Converter (from the Quick Links on our website) to convert from one address to another:
But it’s important which address you withdraw to.
If you want to stake, you will have to use point- prefixed address. And in general sending to a 0x- wallet is not an issue, you can always just create another point- wallet and send to yourself there and stake. Except for one big group of people:
If you have any lockup periods applied, and you will if you bought in any of the private rounds, if you send to a 0x- address, you will not be able to move any POINT at all until the whole lockup period expires completely. And if you send to a point- address, you will gradually have more and more POINT unlocked according to the schedule.
Otherwise, if this doesn’t apply to you, you can withdraw to Ethereum 0x- address created in something like Metamask or Metamask+Trezor. Let’s consider this simplest case.
Using Point with Metamask
Go to the main website, scroll down to Quick Links, and click Add Point to Metamask. Follow the instructions, and you will be switched from Ethereum Mainnet to Point Network Chain, and you will see POINT.
From there, you will be able to see your 0x- Point address, and this is the address you should specify in the sale platform for withdrawal. Then you can use Point in Metamask as usual.
Have another wallet that supports custom chains?
Use these parameters:
Chain Name: Point Network
Chain ID: 10687
RPC: https://rpc-mainnet-1.point.space
Symbol: POINT
Explorer: https://explorer.pointnetwork.ioUsing Point with Trezor via Metamask
If you have a lot of POINT tokens, it’s wise to secure them with hardware wallet. For example, you could use Trezor wallet. Follow the steps above to add the Point Network to Metamask, but then (we assume you already have the wallet and know how to set up an account)
- click on the right top icon in Metamask to see the list of wallets
- click Connect Hardware Wallet
- choose Trezor
- follow the instructions
As a result, you will be able to access your Point wallet which is secured on Trezor, in your Metamask. It will feel exactly the same, with the only difference: since the private key is secured by the device, when you will create a transaction on Metamask, it will not be immediately sent, but it will ask you to confirm it on your Trezor.
Using Keplr Wallet to Create a point- Address
If you want to go deeper, and have a low-level point- address in the Cosmos format, you will have to create it. The easiest way is to use a Keplr extension.
We assume you already downloaded it (make sure to double-check you download real software and not phishing) and created your account. But Keplr doesn’t yet support Point natively — how can we connect it to Point Chain?
For that, go to cosmos.pointnetwork.io, select Wallet in the right upper corner, then Import Address, and finally, Enable Keplr button in the bottom of the screen.
This will add a new network in your Keplr, and then all you have to do is to switch to it.
When done, you will be able to see both your point- prefixed address, and 0x- prefixed address.
Unfortunately, ping.pub, software we use on cosmos.pointnetwork.io, cannot yet work with Keplr EVM-addresses for something like staking, but we tested Ping.Pub+Ledger, and this not only allows you to have a secure hardware wallet, but also to stake right away, so let’s see how to use this option now.
Update: Good news! Ping.Pub team told us they are finishing the integration and will make it available very soon, so that you will be able to stake/delegate right from Keplr! Stay tuned to our updates.
Using Ledger with Ping.Pub and Staking
This assumes you have your Ledger, connected it to your Ledger Live application, and saved the seed phrase. Also, it’s best to update the firmware and the software to the latest version.
The next thing to do is install Ethereum app via the Manager tab in Ledger Live.
Then you can go to our Cosmos Explorer: cosmos.pointnetwork.io, click on Wallet at the top right corner, then Import:
Instead of Keplr, select Ledger via WebUSB and click Next. It might ask you to open Ethereum app on the Ledger, in that case, do that.
Note: when Ping.Pub needs something from your Ledger, very often nothing happens on the screen. You might be wondering why the button is not working, but look down at your Ledger — you might have a new pending screen there.
Give the wallet a name (for example, ledger1) and click Next
Now in your Accounts section, you should see your wallet address. Do not click on Details just yet, because the wallet will not be found by the node (it will only be “found” on the blockchain once there’s at least one interaction — so you need to send money to it). Just click on the Copy icon next to the arrow to copy it, and send some POINT to it (either from Keplr, or from Metamask after converting this address to an Eth-format).
Then, once there’s money on it, you should be able to click Details and expand it.
This will allow you to delegate your POINT token to a validator to receive staking rewards. You can go to Staking section, and pick the best validators (the validator set is very minimal at the beginning, but more and more should be joining — pick the validator carefully, it’s up to you to understand the risks and DYOR).
Now when you click Send, again, you might be wondering why nothing is happening. Look down at your Ledger — you will see a confirmation screen.
Once done, you will successfully see your stake, and rewards increasing every day (hopefully). Then you can use the same interface to withdraw rewards, or even compound them.
More options
This is just a quick guide we’ve released as part of our post-launch operations, and it’s a big to-do list.
We are working on having even more options available, with more detailed guides, but this is already a good start. And we hope that in a not-so-distant future, our experimental Point Browser with integrated Point Wallet would become so robust and secure that we would finally be able to tell you that this is now officially the safest and easiest way to store and access POINT! We just launched, so there’s a long road ahead — stay tuned to our updates on announcement channels!
And if you have any doubts or questions, since it involves real POINT tokens, better ask us in our official social media channels:
- Telegram Chat: https://t.me/pointnetworkchat
- Discord: https://pointnetwork.io/discord
See you there!
