Easiest Way to Create a REGEN Wallet
Regen Network is a platform aimed at changing the economics of agriculture and bring about ecological regeneration, featuring a marketplace where ecosystem service credits can be traded.
The network has recently gone live with its mainnet. The network is built upon a Tendermint dPoS foundation and therefore has a token that is not only used as a utility token on the platform but also as a staking token. In this guide, we will be going through the steps required to set up a wallet to manage your REGEN tokens.
Installing the Keplr Wallet
Different wallets are designed to store specific tokens, therefore we cannot just set up any wallet. To manage our REGEN tokens, we will set up and use the Keplr wallet. The Regen Network team endorses this wallet as they are working closely with them.
Keplr, which is a Google Chrome extension, is officially supported on Google Chrome. It can be used on the Brave browser, however, some features may be unavailable and therefore we strongly suggest sticking to Google Chrome. Note that the Keplr extension cannot be used from a mobile device.
Let’s begin:
- Access the Keplr Chrome Extension page and click the Add to Chrome button.
2. Confirm that you want to proceed and add the Keplr extension by selecting the Add extension option.
3. On adding the extension to your browser, navigate to the extension tab to confirm Keplr was added by accessing the extensions tab which is in the form of a puzzle piece icon, found beside your Google profile avatar. On selecting this you will see that Keplr is listed, with the option to pin it or select further actions.
4. Next, click on Keplr from the extension list and you will be further prompted to a page shown below:
Create a new account, import an existing account (seed phrase) or import an address from a Ledger hardware wallet. If choosing the Ledger option, make sure your device has the Cosmos app installed, it is open and connected to your computer.
5. We will proceed with the Create new account option.
6. A list of 12 random words will be displayed known as the mnemonic seed, in which you are also given the option to toggle to a 24 word string of random words, however we will stick to 12 words. This is your mnemonic seed, which you must make sure to write down word by word and store somewhere safe offline. If you forget this mnemonic seed you will lose access to your funds.
Note that the password used to encrypt the wallet on one device should not be confused with the mnemonic seed, whereby this is used to recover your wallet on any device.
7. Enter an Account name which will be the name of your wallet and set a password.
8. After clicking on next you will be prompted with a mnemonic seed confirmation tool that verifies that you have stored and taken note of the 12 words by having you set them in the correct order.
Once you are done setting up your Keplr wallet you may access your wallet at any point in time by clicking on the extensions tab on the top right hand corner of your chrome browser.
9. On opening the wallet you will see Cosmos listed on top and below it is the wallet name you have given your wallet. Since Keplr is a wallet for the Cosmos interchain system you have created several wallets including a Cosmos ATOM wallet, an Akash AKT wallet and several others.
10. Currently REGEN is relevant to us, therefore you may click on the drop-down and select REGEN.
You are now on your REGEN wallet and this widget contains all you need in order to manage your REGEN tokens!
Most importantly you have your REGEN wallet address located right under your wallet name and a simple click on it will have your address copied for ease of use.
This public address also known as a public key is totally safe to share with anyone. It is analogous to a bank IBAN number for a bank transfer, which is one of the criteria to transfer funds to a specific bank account. Anyone can transfer your tokens or view a history of your transactions, however just like an IBAN number, funds cannot be taken from you.
Concluding remarks
That’s it! Now that you have set up your REGEN wallet, you can now receive and send REGEN tokens. If you plan on holding the tokens, you can start earning block rewards by delegating to a validator of your choice by selecting the stake button and this will display several validators for you to choose from.
Stay tuned to Simply Staking for more REGEN related guides and documentation:
- Website: https://simply-vc.com.mt
- Twitter: https://twitter.com/SimplyStaking
- Discord: https://discord.gg/Kpzc58Gu9a
- Telegram: https://t.me/SimplyVC
