How to set up a NEAR wallet?

Published in

MyNearWallet Blog

5 min readJun 8, 2022

NEAR Wallet | Tutorial | How to set up NEAR wallet — How to set up a NEAR wallet?

Introduction

MyNearWallet is the official successor of the NEAR wallet (https://wallet.near.org). It is a non-custodial wallet where you can store, receive, send NEAR assets and interact with the NEAR blockchain simply and securely.

Our aim is to become an all-in-one solution for exploring the NEAR ecosystem. Interact with NEAR assets, explore dApps, NFTs and more with MyNearWallet!

You can either import an existing Near wallet or create a new one.

Setting up MyNearWallet

1. Choose a security method

First, visit https://mynearwallet.com, click “Create account” and then “Get started”.

Create account | NEAR Wallet — Create NEAR account

Next, choose your preferred security method. There are three methods available: seed passphrase, Ledger hardware wallet and e-mail. Let’s review all these methods.

Secure Passphrase (seed phrase)

Security Method | NEAR Wallet — Choose Security method

This option requires you to save a 12-word secret passphrase, and store it somewhere safe or memorize it. The words must be written in the correct order, and the number associated with every word is important. It will be checked during the next stage.

Remember that MyNearWallet is a non-custodial wallet, so your password and seed phrase are your responsibility only. They are only secure if you store them correctly. If you lose your seed phrase, you lose your funds forever.

Secure passphrase | Seed phrase | NEAR Wallet — Seed phrase

Ledger Hardware Wallet

The hardware wallet stores your private key on a separate device. It’s the most secure option, so we highly recommend you use it. MyNearWallet supports Ledger Nano S and X.

Ledger Wallet | NEAR Wallet — Connect your Ledger wallet

Email Verification

Important: note that email recovery method has a low security level and will be soon disabled on our website, so we highly recommend you switch to either passphrase or Ledger.

Learn more information here.

2. Verify your seed phrase, if you’ve chosen this recovery method

Verification | NEAR Wallet — Verification

3. Activate your account

Best NEAR wallet — NEAR wallet — Dashboard

Your account is almost set up, but you need to fund it with at least 0.1 NEAR to activate it. Note that if you want to interact with the NEAR ecosystem by using your wallet or create a custom address, we advise you to send at least 1 NEAR there.

You will be able to do so after account creation.

If you don’t have NEAR on any other wallet, you can fund your account by buying NEAR on

NearPay
Moonpay
Utorg
FTX US
or transfer it from any supported exchange (Binance, OKX, Huobi or Kraken)
Also, you can bridge tokens from MetaMask, using a Rainbow Bridge

Click “Top Up” in your wallet.
Choose any preferable option and follow the instructions of our partner.

If you already have NEAR on another wallet, follow these simple steps:

Click “Deposit Near” in your NEAR wallet.
Copy your Account ID or get a code via scanning the QR-code.
Go to a Sending wallet from which you want to transfer NEAR.
Click “Send” and enter the amount of coins you want to transfer.
Paste a NEAR address or QR code.
Wait for a confirmation message stating that the transaction is completed.

As soon as you receive the funds, your account activates automatically.

Importing an existing Near wallet

Go to https://mynearwallet.com and click “Import Account.”
Here you can choose a method to import your account based on a recovery method you’ve chosen when creating your account.
The steps are the same as when creating a new wallet.

Import account | NEAR Wallet — Import Account

How to create a custom account?

We highly recommend you add an account with a custom address to your wallet if you have more than 0.1 NEAR. It can be anything you like. Having a custom address is very convenient, because it is easy to read, remember and share. You will need at least 0.1 NEAR to create it.

Click on the “Add a Custom Address button” in the upper right corner on the wallet homepage.

Custom NEAR address | NEAR Wallet — Custom Adresss

Enter your Account ID. Every account created on MyNearWallet receives a ‘near’ ending as a part of the address.
Click “Reserve my Account ID”.
Choose a security method once again
Proceed through the verification process
Then you need to fund this account with an existing account you’ve already created. Check the address in the input box. If everything is correct, click continue. If it’s not, click “Import account” and follow the instructions.
Here you have to approve a transaction of 0.1 NEAR. Click “Approve”.

You’ve successfully set up a custom address.

Closing thoughts

MyNearWallet is the perfect choice for interacting with the NEAR ecosystem as it gives you all the advantages of decentralized finance with a user-friendly interface. We wish you a pleasant experience with the NEAR ecosystem. If you have any questions or suggestions, please, contact us. We’re always here to help.