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What Is A Sollet Wallet? How To Create Solana Wallet In Sollet Wallet?

Recently, the crypto market is on page-3 right? But why am I mentioning that here? Yes, because Sollet is a web-based cryptocurrency wallet and browser extension that enables you to securely manage the digital coins or assets on the Solana Blockchain. Moreover, Sollet wallet also allows you to securely connect and interact with Dapps which are decentralized applications on the Solana blockchain to pay and receive money. This is how Sollet Wallet streamlines and maintains everything securely. But how to create a Solana Wallet in Sollet Wallet is still a question for you, am I right? So, let us resolve your question! In this article we will discuss the steps of creating a solana wallet in a sollet wallet. 

Also Read: Slippage In Crypto: What Is It And How Can It Be Managed?

Steps To Create Solana Wallet In Sollet Wallet:

Sollet Wallet

You will get a 24 word mnemonic seed, at the starting phase of creating a new wallet. You must backup this data or information securely, because if you lose the seed word, you will lose your digital coins from your wallet. Thus, it is essential to have a backup for the same. The following is the exact pop-up message you will receive during the first step: 

#1 Create New Wallet: 

Go to the official website of the sollet wallet and tap ‘Create new wallet’ 

Create New Wallet

Create a new wallet to hold Solana and SPL tokens.

Please write down the following twenty four words and keep them in a safe place: 

Your private keys are only stored on your current computer or device. You will need these words to restore your wallet if your browser’s storage is cleared or your device is damaged or lost. 

By default, sollet will use m/44’/501’/0’/0’ as the derivation path for the main wallet. To use an alternative path, try restoring an existing wallet. 

  • I have saved these words in a safe place. 

CONTINUE


I hope you got the first step! This is the exact message box you will see in the first step.  You just need to confirm that you saved the words in a safe place and your first step is complete. 

#2 Encrypt You Seed With Password 

In step 2 you need to encrypt your wallet seed using a password. Generally, you can close the wallet and access sollet.io wallet back by just entering the password. Additionally, you can get the following message box in step-2: 

Confirm Mnemonic 

Please re-enter your seed phrase to confirm that you have saved it. 

CLOSE  CONTINUE 

#3 Create A Password


Here in this step you need to create a password and confirm the same, as you are doing while installing any application. The following message box you will see in this step:  

Choose The Password (Optional) 

Optionally pick a password to protect your wallet. 

If you forget your password you will need to restore your wallet using your seed words. 

BACK 

CREATE WALLET 


Sometimes you may forget the password, then you need to restore your wallet using your seed words. Moreover, if you clear browser cache then you can’t login using the same password, in that case you need to restore the wallet using seed words. After selecting the password and clicking the “create wallet”, it automatically generates a new SOL address for you. Now, drop down the SOL account and copy the deposit address. 

And we are done! Now the next question is how to add the coins into the Solana wallet? 

Also Read: How To Buy Cryptocurrency? Buying Guide 2022  

Adding Digital Currencies To Sollet Wallet: 

Same as the demat account you can transfer the funds into the sollet wallet. Though, it charges the fees, but the fees are so negligible. But always keep in mind that you must need enough SOL in your wallet, otherwise you will not be able to add any tokens. In this case you will get the following error: 

Once deposited sufficient SOL, you can add the digital coins and the following is the process for the same: 

  • Click the add icon of your Sollet Wallet to add cryptocurrencies. 
  • The pop-up message will open in front of you which contains three options like Popular Tokens, ERC20 Tokens, and Manual Input. You can add anything according to your choice by just clicking the ‘Add’ label. 

And here you are done with the whole process. Sollet wallet is popular for easy using and securely maintaining the digital coins. Have you ever thought about what if you are not able to copy the mnemonic? Let me explain the solution for the same: 

In case if you have failed to copy the mnemonic backup phrase or seed words during the wallet setup, then you need to export it later. You need to tap the account menu from the top right corner and click export mnemonic. Now, Enter the password to reveal the mnemonic. 

In case if you deleted the seed words, then you need to create it from the very first step due to sollet wallet’s hi-tech security. 

Also Read: The 18 Best Crypto Podcasts In 2022

The Final Thought: 

Here is the complete process of creating the sollet wallet to manage your cryptocurrency digitally and easily. Moreover, you can use this wallet to send and receive the funds from your accounts. 

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