Wax Cloud Wallet is designed specifically for working with decentralized applications (DApps) on the Wax blockchain. In this article, we will walk you through how to create and activate your Wax wallet step by step.
Wax has been synonymous with game integrability ever since its inception back in 2019. The Wax blockchain already hosts a number of popular play-to-earn games, such as Alien Worlds or Train of the Century, many of which can bring sizable profits to those who master their mechanics.
Wax Cloud Wallet is the staple of the whole ecosystem, as it allows you to seamlessly integrate its functionality into a number of services, as well as instantly send crypto between the Wax Wallet and your other cryptocurrency wallets.
Step 1: Choose your wallet
The devs of many DApps on the Wax blockchain usually offer you two ways to store your coins and NFTs: Wax Cloud Wallet and Anchor Wallet.
Wax Cloud Wallet is easy to use and available as a browser extension, so it’s great for gaming. Its main problem is security — it’s known to have been prey to several major attacks as of this writing, which may compromise the safety of your funds.
Anchor Wallet has all the features of Cloud Wallet but is commonly regarded as much more secure.
The key takeaway is that it’s normally viewed as safe to keep most of your funds on Anchor and use Wax Cloud Wallet occasionally with a minimum balance. Let’s have a look at how we can use Cloud Wallet since it’s the one we will need for games. Mind that you must be 18+ to be able to use the wallet.
Step 2: Sign up
To get started, go to the Wax Cloud Wallet sign-up page.
There are many options for logging in through various social networks, even Steam.
After you have registered, you will need to activate your wallet by depositing 5 WAXP (the native coin of the WAX ecosystem).
Step 3: Wax Cloud Wallet activation
There are two ways to activate your Cloud Wallet:
Buy WAX directly on a crypto exchange (Binance, Huobi, OKX, Kucoin, etc.)
When signing up, you’ll be given the full list of services where you can buy WAX, including popular exchanges and OTC trading platforms. Choose the one that suits you and just click “Buy Now”/”Go To Service” to complete your transaction.
There’s also an option to buy WAX directly with Coinbase. For that, click “Pay with Coinbase,” authorise the Coinbase wallet on the site, and follow the on-screen instructions to complete the transaction. Your Coinbase account must be KYC-verified to be able to use this option.
Alternatively, you can choose to deposit an equivalent amount of cryptocurrency from another wallet or exchange; you can fund your WAX account with Bitcoin, Ethereum, USD-C, Dogecoin, Litecoin, Dai, and Bitcoin Cash. To do that, choose the currency you’d like to deposit from the coin list on the same “Pay with Coinbase” page, and then transfer the crypto to the wallet address using the text line or QR Code. The amount will be equivalent to $5 regardless of the coin you choose.
The third option is to deposit WAXP directly from another WAX Cloud Wallet using the funding address, QR Code, and memo.
Transfer WAXP from another crypto wallet.
You will be charged a flat fee of 2 WAX when depositing crypto. You can send more than 5 WAX, in which case all excess funds not spent on account activation will be sent directly to your wallet, and you will be able to use them right away. Therefore, it is better to send the necessary amount of WAX in one go, so as to avoid having to pay the commission twice.
Congrats! Your Wax Cloud Wallet is all set up and ready to go. Now you can use it to work with DApps on the WAX Blockchain, play blockchain games, as well as trade crypto and NFTs.