On March 6, 2024, the wallet activity was completed. If the user wishes to access Avalanche Wallet, they will be redirected to the Core cryptocurrency wallet page.
What is the Core cryptocurrency wallet
Developers position Core as a set of crypto tools: wallet, dApp, extension, and data dashboard. It is more than just a crypto wallet; it is a command center. The non-custodial Core wallet is developed by Ava Labs, the creators of Avalanche. It provides access to dApps and is used for managing assets in digital currency. Core supports not only Avalanche but also Ethereum, Bitcoin, and a number of other options. It ensures secure use of cryptocurrencies and quick execution of various transactions with them, as well as asset storage.
Positive features and drawbacks of the Core wallet
Pros:
- You can access the cryptocurrency wallet in several ways: through a web address, Chrome browser extensions, and mobile apps for iOS and Android. This allows cryptocurrency owners to use their resources from various devices.
- Core – a non-custodial wallet that gives users the ability to create and manage private keys in their own name. This ensures the security of funds and transactions. To minimize risks, Core supports hardware crypto wallets.
- Core supports not only Avax but also a number of other cryptocurrencies, allowing asset holders to work with multiple digital assets on a single platform.
- The wallet provides not only security but also greater speed and ease of managing cryptocurrency.
- Core features a clear interface that is not overloaded with data. This makes it comfortable to work with and helps users quickly understand the structure and functions of the wallet.
- Core allows staking directly in the cryptocurrency wallet. Asset owners can earn income from their assets.
Cons:
Core started working a year ago, so it is still being refined, developed, and adding new features.
How to get a Core cryptocurrency wallet
To create a new wallet, you will need to follow these steps:
- Choose the suitable option: use the official website, download the extension, or download the Core app from the App Store for devices running iOS or from Google Play Market for Android OS.
- Run the downloaded extension or application.
- Click "Create a new wallet."
- Decide on the setup method: seed phrase or email address.
SEED phrase consisting of 12 or 24 words must be written down and stored in a safe place, as it will help to restore the wallet in case access is lost. Verification via email will also serve as a means of enhancing security and restoring access to the wallet. It is advisable to use multi-factor authentication and a complex combined password. It should be unique to the specific wallet.
Core Portfolio
Portfolio, or Portfolio - is a feature in the wallet that allows owners to manage cryptocurrency assets and track transactions. Users have access to all available funds, the movement of which can be viewed in real time. Core Portfolio supports a range of popular cryptocurrencies.
Management and tracking of assets
The cryptocurrency wallet provides the ability to quickly and efficiently conduct transactions with assets.
Sending
To complete the transaction, you need to launch the Core application or extension and follow these steps:
- In the command center, select the action 'Send'.
- Specify the recipient's wallet address, and then check the spelling for accuracy.
- Выбрать криптовалюту для отправки.
- Specify the required amount.
- Check the actions and confirm them. You will need to use a password or go through authentication.
- Authorized transaction must pass verification.
After confirmation, the operation will be completed and the funds will be sent to the selected address.
Receiving
To receive tokens, you need to follow the scheme below:
- Activate the Core application or extension.
- In the control center, select the 'Get' option.
- Specify the address of your wallet for the sender by copying it or using the QR code.
- When the sender initiates the send, the network will confirm the transaction.
After the funds are received, the network will issue a notification about the asset movement.
Translation
The Core wallet allows you to transfer tokens using the bridge. To do this, after launching the application or extension, you need to perform the following operations:
- In the command center, select ‘Bridge’.
- Choose a cryptocurrency for transfer.
- Make sure to verify the correctness of the selected networks.
Enter the required amount of tokens.
- Check the correctness of the data entered.
To complete the operation, you will need to use a password or two-factor authentication. The confirmation of actions initiates the bridge, and it may take some time to pass through it.
Core Stake
The Core Stake staking service is integrated into the Core crypto wallet and allows the user who has invested and frozen assets to delegate coins to a validator. In return, the owner of the funds receives a reward. The validator's fee, known as the delegated fee, is deducted from this. This relieves the token owner from the need to manage their own validation node. Experienced users can also validate staking. Core Stake significantly simplifies and speeds up the staking process, reducing it to just a few actions.
Делегирование
To perform delegation, you need to take the following steps:
- Go to the Stake section.
- Select "Delegation."
- Click the "Start" button.
- To perform delegation, Avax must be on the P-Chain. Otherwise, one can use transfer from C-Chain or X-Chain, exchange other cryptocurrencies. You can also acquire the required amount of Avax.
- Select a node for delegating funds. The user has the option to designate a node themselves or choose an address from the suggested list.
- Specify the duration of staking. This feature is accompanied by a chart showing the level of returns depending on the duration of staking.
- Specify the address for placing the reward.
- Check the information submitted, adjust it if necessary to avoid mistakes.
- Нажмите кнопку "Send Delegation".
After successful delegation, the user will receive confirmation.
Validation
To do this, go to the Stake section, select "Verification," and click the "Start" button:
- Similar to delegation, to validate you need to have Avax on P-Chain, transfer tokens from C-Chain or X-Chain, or purchase them.
- Enter the information about the node, including the BLS public key and BLS signature for the node being used.
- Select the duration of staking using the chart. There is a choice between fixed staking periods and a specific end date for its duration.
- Specify the reward payout address.
- Specify the fee that will be collected from delegators and the address where the reward for delegation will be sent. Its size ranges from 2% to 100%.
- Check the data, correct if necessary.
- Click the "Submit Check" button.
Successful completion of the process will be marked by the confirmation of the transaction.
The Core cryptocurrency wallet ensures security and convenience in managing assets, reducing the difficulty level of working with cryptocurrency. It has a user-friendly interface that can be quickly understood without the need to study additional instructions. The wallet is available not only on computers but also on mobile devices running various operating systems. In the wallet, the owner can manage multiple cryptocurrencies, quickly performing transactions between them. Core is excellent for buying, selling, and exchanging crypto, as well as for safe and profitable storage through staking.