Everything WAX Cloud Wallet Guide.
WAX has been doing a great job for making block chain simple for a layman user using WAX Cloud Wallet account which takes care of the hassle of private keys and resources. Still, there are few questions which we frequently see popping up on WAX main channel related to Wax Cloud Wallet, like, could we claim the private key of WAX account? What’s the difference between .wam and .waa account? I lost my 2FA device and recovery code, can I reclaim my account back?
This guide will help you to learn about everything WAX Cloud Wallet in detail, from what you could do using the wallet to what you need to be careful of.
Guide Breakdown
1. What is WAX Cloud Wallet?
2. Signing Up process.
3. What are Resources? How could one manage them?
4. How to send tokens from Cloud Wallet to other accounts?
5. How to add more WAX/send WAX token to Cloud Wallet Account?
6. How to add a new dApp token to WAX Cloud Wallet?
7. How to get an All-Access Account (non-custodian) using Wax Cloud Wallet? 8. How could one set 2FA to the wallet? Is there any way to reclaim your account in case recovery code is lost?
9. How to access and transfer NFTs on WAX Cloud Wallet?
10. How could one access dApp or tools using Cloud Wallet?
1. What is WAX Cloud Wallet?
WAX Cloud Wallet is a managed wallet (custodian) for making it easier to create a WAX account, manage, interact with dApp and related tools built on/for WAX Blockchain. It works smoothly on both mobile and desktop.
The wallets allow you to sign up using services like Fb, Gmail, Steam, Kakao, VK, Discord, Twitter, Twitch, Reddit, Github and Line. Once sign up the account gets linked to the email-id, you used for such services. The wallet is available in 48 languages.
The private keys of accounts created on WAX Cloud Wallet are managed by WAX Labs (custodian) and a user couldn’t take claim of the private keys, though, the wallet allows you to create a different account with private keys.
2. The process of Signing up!
To sign-up, one could opt for any service or provide an email password like regular services sign-ups. Once linked and authorized, a pop-up screen asks the user to accept the Terms of Service.
When you authorize your service account to give access to WAX, a pop-up screen asks the user to accept the Terms of Service. Once you accept the terms, you have an account created on WAX Blockchain.
Here the account we created is jsdaw.wam (shown in red), .wam is a short form of “WAX Account Management”. We also have .waa accounts which are “WAX All Access” accounts, we will cover about this later.
The Balance of your account is shown in green. We have the tokens (for dApps) section shown in the light green area, and below that NFTs section.
3. What are Resources?
Unlike Ethereum which stop spamming with GAS fees, WAX Network uses staking and Network resources. We have three resources namely, CPU, NET and RAM, where CPU is the time consumed to perform a transaction (like token transfer or simple click on “upvote” on KARMA posts), NET is the network space to consumed to carry the information of the transaction and RAM is the storage to log the state of the transaction.
You may monitor your resources from your Cloud wallet, also, stake more resources for your account using Extend Resource Capacity menu slides as shown below.
If you are curious to learn about Resources and benefits of staking WAX, we have covered all about Staking/Un-staking on WAX here.
4. How to send Tokens using WAX Cloud Wallet to others account?
To send the tokens to another account or exchange account you could click on “Send Tokens” and follow a few quick steps.
Step 1: Select Token you wish to transfer (WAX protocol token or dApp token)
Step 2: Select no. of tokens/amount you are willing to transfer.
Step 3: Enter “Memo” (Required for Most exchanges to filter transaction/or any message you wish to send along to your another account)
Step 4: Add recipient account name.
Step 5: Send and it’s done.
5. How to add more WAX/send WAX token to Cloud Wallet Account?
You may buy WAX tokens from Crypto exchanges like Bittrex, Huobi, KuCoin, NewDex and transfer tokens to your WAX account name.
6. How to add a new dApp token to WAX Cloud Wallet?
For new accounts, we only have two dApp tokens visible (PGL and GEM) in the Token section of the wallet, you may manage the token by clicking on the “+ Manage” shown on the top right corner of the token section.
To add token, press on Add, fill in the Token Symbol, Decimal places and Smart contract details. You may ask for the details first on the dApp channel or WAX channel for a specific token.
Once done, click Save.
7. How to get an All-Access Account (non-custodian) using Wax Cloud Wallet?
Cloud wallet allows you to create a .waa (WAX All Access) account with a similar name but different suffix. For instance, we have “jsdaw.wam” our cloud wallet account, we could create “jsdaw.waa” account.
You may also create a 12 digit account. or name bid a new account using WCW + Bloks. We will cover that in another guide.
To create an account you will need an EOSIO key pair, which one could get from Anchor (recommended) or https://eosauthority.com/generate_eos_private_key
Warning — Follow the recommended steps mentioned on the Authority website in case you are coping public/private keys from EOS Authority website. Also, keep the private keys in a very safe place.
Copy the private keys to “create account” space under “+ Manage” Token section.
Press “Create account”! You may check the details of the new account on the Block Explorer. The new account is not related to .wam account in any way.
8. How could one set 2FA to the wallet?
Two Factor Authentication provides your account with an extra layer of security in case you linked social media account get jeopardized. To put the second layer of Security go to,
Account Settings (click on WAX icon top right corner)→ Account Security → 2 Factor Authentication.
Scan the bar code using Authenticator app, and enter 2FA code. Once set up, your account id will be visible on the Authenticator app.
Copy and keep the recovery code in a safe place, if you lose the recovery code and 2FA device you will not be able to access your account and there is no way to reclaim your account. Also, without recovery code, a user won’t be able to disable 2FA.
9. How to access and transfer NFTs on WAX Cloud Wallet?
Non Fungible tokens like Collectibles cards could be accessed through WCW wallet interface.
For transferring NFTs, click on Transfer button and fill in the details like namely recipient along with memo (optional), click Transfer.
From the pop-up window approve the transaction by pressing Approve.
10. How to access dApps or tools using WAX Cloud Wallet?
It’s very easy to access any tool or dApp using Cloud Wallet. Most tools or dApps have a direct Login in process for WAX Cloud Window, which opens a WAX Login Pop-up page (in case you are not logged in) or opens a pop-up window to give access, which user needs to approve(a).
Tools like wax.bloks.io show an option to login using WCW (b), which open a window to approve the access(a).
We hope this guide helps you with everything WAX. In case you have any questions feel free to reach us out on our TG handle https://t.me/ledgerwise.io
About WAX
WAX has created a suite of blockchain-based tools upon which dApps, marketplaces, and native non-fungible tokens (NFTs) are built. These tools include services to support e-commerce operations such as the WAX Cloud Wallet, SSO and OAUTH, a native RNG service, and a developer portal. The resulting technology reportedly represents a blockchain architecture with 500 millisecond block times, is fee-less for customers, and leverages voting rewards to incentivize participation in the selection of block producers and proposals.
About Ledgerwise
Ledgerwise is a top tier validator for DLT projects. We are running enterprise-grade infrastructure combined with world-class Tech to secure the partnered networks. Our 2+ years experience with EOS Metal and Attic Lab operations helps us with a good understanding of staking and governance, also, how infrastructure and decentralization are essential for the security of the network. We are among the very few Block validation services coming out from Indian Blockchain Space. We are currently a Standby WAX Block Producer.
