Updated on: 23.04.2019
In a previous article, I wrote a step-by-step guideline on how to delegate using your Ledger Nano S, which included in the introduction why it is common practice to keep large amounts of cryptocurrencies in cold storages or hardware wallets. However, setting up Tezos on your computer in addition to the Ledger can become a lengthy and tedious process, especially for smaller holders.
Thus, today’s article is dedicated to one of the available online wallets, TezBox Wallet*. In particular, the website version under 🔒
https://wallet.tezbox.com. Note that the link of their official website is 🔒
It’s important to always check the links of the websites you visit, as there will be phishers or scammers trying to impersonate popular services and stealing your funds.
Creating your TezBox
We are going to create a TezBox wallet. At any times throughout this guidelines, check that you’re on 🔒
- Tezos Mainnet warning and the Disclaimer:
I recommend limiting the amount of cryptocurrencies held in online wallets, so you limit the loss in the worst case scenario.
2. Creating a TezBox:
Before clicking on “create TezBox” make sure you’re in a place with privacy, no one can peak at your screen, and that you have no cameras pointing at your screen either.
After clicking on “Create TezBox” you will see something similar to the following:
Write down the 15 words in the order as they are displayed from left to right, preferably in a piece of paper. Also, avoid reading out loud those words. If you entered an optional passphrase, then write that down too after the 15 words and click Continue.
3. Validating your TezBox:
Re-enter the 15 words you wrote down before, and the passphrase if you chose one. Then click on “Create TezBox”. After this step, keep the paper with the words and passphrase in a safe and hard to access by unauthorised parties place.
4. Securing your TezBox:
This password will allow you to login again into your web TezBox. Use a different one than the passphrase in the previous steps, if you chose one. Your wallet will automatically log off after some time for security, you will be refreshing the page often, and you might accidentally close the website tab. In any of the previous cases, use this password to login again.
Click on Encrypt Wallet and… voilà, you are now into yout TezBox.
Funding Your TezBox
This is how the dashboard of your wallet looks like:
Your address is under “MAIN”, and has the format of
tz36characterstring36characterstring. When funding this wallet, remember to double-, triple-, quadruple-check the address. To be safe, always start sending a very small amount for verification. Something like 0.2 ꜩ and wait until you receive it before you send more.
For convenience, you can click on the copying icon below MAIN, it will trigger the prompt below (but always double-check the address on your clipboard):
Once you start your transfer, it might take some minutes until it goes through. This is because your transaction needs to be included in the Tezos blockchain. After receiving the funds into your TezBox account, you will see a new transaction in your wallet history:
Creating a KT1 Delegation Account and Funding It with TezBox
On your dashboard, there is the “Delegate” tab. After clicking, you’ll see the following message:
In short, in order to delegate you have to create an originated account. The existing one is an implicit account. If you wish to understand better what the differences are, checkout the section “How to Delegate and Understanding Implicit and Generated Accounts” of the Ledger guideline. For simplicity, implicit accounts have an address that looks like
tz36characterstring36characterstring and an originated account looks like
- To create an originated account, click on
+ ADD ACCOUNTon the left sidebar. This will prompt the following message:
After you click on “Yes, Continue!”, on the left side bar you will see a new account with an address starting with
2. Wait until your account has been included on the Mainnet. Until then, you will see the (!) on the avatar. It will go away once your originated account had been included.
3. Fund your KT1 account by transferring some XTZ from your main account. Go back to your Main account and click the “Send” tab. Here you should paste your KT1 address as the destination address and set the amount. Make sure you double-checked the destination address, as you are making a transfer:
4. Wait a bit, until the amount is included. Once it is, you will see the new balance on your KT1 account:
Delegating XTZ with Your TezBox Wallet
- To appoint your KT1 (delegation) to a baker (delegate), let’s go to your KT1 account and click on the Delegate tab.
2. Select a Baker or enter the address of your preferred one. TezBox has some existing bakers in their drop-down-list. You can just select one of them. Alternatively, you can select “custom”* and paste the baker address, for example ours is tz1eEnQhbwf6trb8Q8mPb2RaPkNk2rN7BKi8 (◕‿◕✿):
*I recommend always using the custom field, so you can actually see the address you selected and verify that it’s the baker’s actual address. You can always “un-delegate”, but to avoid this extra step, I suggest using the “Custom” option and adding the address yourself.
3. Then click on “update delegate”, which will prompt:
4. Yay, now if you search on Tz Scan for your
KT36characterstringcharacter address, you will see your delegation details.
Nonetheless, closing remarks:
> I still recommend limiting the amount of cryptocurrencies held in online wallets, so you limit the loss in the worst case scenario.
Bonus: What is Happening Under the Hood?
To clarify, because Tezos’ documentation is pretty confusing, originated accounts, are actually smart contracts, where the data structure looks like:
Whenever you generate an originated account you’re actually generating and deploying a smart contract with the fields shown above.
When appointing a baker, the originated account is now setting a delegate. It looks like this:
More How-To Guides
- How to Delegate Tezzies (Tezos’ XTZ) with Your Ledger Nano S — With Initial Setup & Screenshots: https://medium.com/cryptium/how-to-delegate-tezzies-tezos-xtz-with-your-ledger-nano-s-with-initial-setup-screenshots-519c9ae6654f
- How to Delegate Tezos XTZ with Galleon Wallet: https://medium.com/cryptium/how-to-delegate-tezos-xtz-with-galleon-wallet-7bdc44e954a8
- How to Delegate Tezos XTZ with Magnum Wallet: https://medium.com/cryptium/how-to-delegate-tezos-xtz-with-magnum-wallet-1181b54da600