Crypto Academy Week 4 // Blockchain Wallet //Submitted to @sapwood

Well done sir, I love the progression in your weekly lectures. Moreover your classes have been very practical @sapwood.

Over the last classes, I have discovered that a wallet is as important as the cryptocurrency your putting inside it.

Week 4 Tasks

1)Have you ever used any Multichain wallet(Non-custodial)? Examples?
(2) How many different coins(of different Blockchains) does it support?
(3) How do I back up the seed key(Mnemonic key) and/or the individual private keys of different coins in a Multichain wallet? Screenshots(Hide the sensitive info)?
(4) How do I re-import the existing Multichain wallet in a fresh installation?
(5) How do I add/import a new coin in a Multichain wallet using the private key of the coin? Examples/Screenshots? (Hint- Import TRX in Trust Wallet)
(6) How do I import a Multichain wallet(of a different service) using the seed key?

Answers to task
Task 1
Yes, I have used a multi chain wallet, precisely Trust wallet though am actually trying to explore another wallet called Token pocket. Trust wallet is a decentralized Etherum based wallet, it has proven to be safe and secure. Also has a mobile app for easy access, also very user friendly interface. And most importantly an inbuilt Dapps and web 3.0 browser.

Task 2
Trust wallet being Ethereum based support most Etherum coins and tokens. But they now support varieties of token and coins like BTC, LTC, BNB, CAKE, BCH, TRON, DOGE, to mention but a few.

According to a research, trust Wallet support over 20,000 token built on the Ethereum blockchain can be accessed through trust wallet.source

Task 3
In other for to back up your private key/seed keys, you need to first download the wallet and you are ready.

Move to settings,

Click on multichain wallet you wish to back up

From there it will redirect to where you can select the wallet to back up

Then click the dots on your top right hand corner

Recovery phrase can be seen by clicking on the recovery phrase column as shown, snapshots are not allowed in this section, but it is advisable to write down the seed keys, at least not in an online device but somewhere safe. It can and will be needed in future.

Task 4
Reimporting an existing multichain wallet in a fresh installation means you have the required keys available for re-importing.

First download wallet or you add a wallet

After which you must accept you had a wallet,

Then select token

Click import after providing your seed keys and it's done.

Task 5
If you must add a new coin to a wallet, you need the contract address, you need to know if there is a special display name and the number of decimals used.

Importing a new Wallet using a private key shows you already have an exiting account and you wish to import a wallet to you intended wallet you would need your seed keys.

Task 6
Importing a Multichain wallet of a different service using your seed keys can be achieved by

Accept you want to add a wallet

Click I already have a wallet

Import you wallet using your seed keys of the different wallet

See you in the next class sir. Thank you.