The Complete Guide To The WAX Cloud Wallet In 2021
The WAX Cloud Wallet is the latest and easiest way to create, use, and manage an account on the WAX blockchain. With the ability to perform all actions of a ‘regular’ WAX wallet, without the hassle of a ‘regular’ WAX wallet, the WAX Cloud Wallet is the perfect wallet for anyone looking to easily and conveniently acquire and use a WAX account. In this article, we’ll explain every aspect of the WAX Cloud Wallet.
What is the WAX Cloud Wallet?
The WAX Cloud Wallet is a very convenient WAX wallet, which allows you to easily interact with the WAX blockchain and the dApps built on it. With the WAX Cloud Wallet, collecting NFTs can be as easy as collecting physical collectibles. The WAX Cloud Wallet can even be used on mobile phones.
Without the WAX Cloud Wallet, collecting NFTs is a confusing, time-consuming process that requires people to use relatively complicated wallets. With the WAX Cloud Wallet, however, you can login with familiar social platforms like Facebook, Twitter, Google, Reddit, and more. The WAX Cloud Wallet also manages your private keys, so you don’t have to worry about them!
In addition to the above features, the costs of creating a WAX Cloud Wallet account are automatically covered, meaning you can instantly create a new WAX Cloud Wallet account for free.
How to create a WAX Cloud Wallet account
As said above, creating a WAX Cloud Wallet account is very easy, and can be done using an account on any major social platform (but also without such an account!).
To start, navigate to WAX All Access, choose one of the available login options, and follow the steps. This will create a WAX Cloud Wallet account for you and it enters the wallet automatically. Keep in mind that you will have to use the same login method to access your account in the future.
Inside the wallet, you can find a lot of information. Your account name, for example, can be found at the top right part of the wallet (and it always ends with ‘.wam’). In the image to the left, you can see where your account name is located exactly.
This newly created WAX account already has some resources staked to it (see this article for more information on staking), which means you can perform a couple of transactions every day, but it does not contain any funds. This means, that before you are able to fully use your WAX account, you will have to add some funds/WAX to it. We will explain how to do so in the next section.
Funding the account
Funding your WAX account is very easy and can be done in three ways:
- Buying WAX directly using your creditcard
- Buying WAX on an exchange and sending it to your account
- Sending WAX from another WAX account
We will explain all three methods below.
Buying WAX directly using your creditcard
The first, and easiest method to buy WAX, is using a creditcard. The only downside of using this method is that the exchange rates are not great, usually. Buying WAX with a creditcard can be done directly from the WCW by clicking on the ‘Buy WAX’ button in the column on the right.
After clicking on the button, select one of the first two options, and follow the instructions. Keep in mind that you might need to prove your identity before you are able to complete the transaction.
Buying WAX on an exchange and sending it to your account
The second method to buying WAX, is buying WAX on an exchange, and sending the WAX to your account. This method is most convenient if you already hold other cryptocurrencies, or if you want the best exchange rates.
WAX can be traded on these exchanges. After you have the WAX in your exchange account, you can withdraw the WAX to your WCW account. You do not have to add a memo to the transaction.
Sending WAX from another account
The last method to fund your account, is by sending WAX from another WAX account. This method is only applicable if you already have another WAX account and want to have a WAX Cloud Wallet account.
How to use the WAX Cloud Wallet
Now you have created and funded your WAX Cloud Wallet account, the only thing left to do is actually using the features of the wallet and the account. We will explain how to send a transaction, how to view and send your NFTs, how to add resources, and how to use/interact with a dApp.
Sending a transaction
The first thing we’ll explain is how to send a transaction.
Sending a transaction can be done by clicking on ‘Send’ in the column at right of the wallet. Clicking on the button, will open a window, where you will first have to select the token you want to send. Click on ‘WAXP’.
You can then enter the amount of WAX you’d like to send (either in WAX, or USD), then click continue. In the next window, as can be seen in the image on the left, you can enter the receiving WAX account, and a memo if you like (not a requirement, but sometimes necessary when depositing WAX to an exchange).
After you have correctly filled in the information, click ‘Next’. This will open a new window, in which you can verify the information and approve the transaction. After having verified the information, click ‘Approve’.
Afterwards, you will get a confirmation that your transaction has succeeded and the transaction will be visible in the wallet.
Viewing and sending your NFTs
The next part we will explain, is how to view and send your NFTs. To view your NFTs, click on ‘NFTs’ in the column on the left of the WCW. On this tab, you can view all of your NFTs, and you can filter them by their collection. When clicking on the NFT, you can find all relevant information about the NFT.
If you want to send an NFT, click on the NFT, and then click on the ‘Transfer’ button, as can be seen in the image above. This will open a new window, in which you can enter the receiving account and add a memo (you can leave the memo empty). After you have entered all information, you can confirm the transaction.
Your WAX Cloud Wallet account has some resources staked to it by default, but if you regularly use the account, you might find that the default staked amount of tokens (and the resources this gives you) does not suffice. In this case, you can decide to extend your resource capacity by purchasing more resources using the WAX in your account. To view your current resources and to purchase new resources, click on the ‘Resources’ button in the right column of the wallet, which will open the overview you see in the image below.
In this overview, you can see the current utilization of resources, and also an option to obtain additional resources. If you notice that your account is unable to make transactions as a result of insufficient resources, or if you would just like to have some extra resources, select the resource which is at max capacity from the drop-down menu, and select the amount of WAX you want to stake/use to buy resources. Then click the ‘Stake’ or ‘Buy’ button and confirm the transaction.
At the time of writing this article, an additional couple of WAX tokens staked for CPU and NET, should suffice for a lot of daily transactions. You will likely not have to buy additional RAM, but if you do, a couple of WAX tokens worth of RAM will suffice for most activities.
Note that CPU and NET utilization slowly go down over time if you don’t use the resources. This means that if your CPU or NET utilization is currently at 100% (or near it), and you are unable to make a transaction, you will likely be able to make a transaction after you wait some time. RAM does not go down over time but also takes more time to accumulate.
For more information about how WAX accounts and resources work, you can read our article, “Understanding WAX Accounts”.
Using a dApp
The final thing we’ll explain, is how to interact with a dApp using your WAX Cloud Wallet. Keep in mind, that this only works with dApps which support the WAX Cloud Wallet.
To start, navigate to the dApp you want to use, and click on the login button. If the option to connect with the WAX Cloud Wallet is available (might look similar to the button in the image above, but can also look different), click on it. You will then have to login to your WCW account and approve the connection in the window which will pop up. If everything has gone well, you have now successfully connected the wallet to the dApp.
Once you have connected your wallet to the dApp, you can start using the dApp. If you want to perform an action in the dApp that requires a transaction, verify the transaction in the window which will pop up when you have to accept a transaction, and click ‘Approve’ (or ‘Deny’ if you are not sure).
The WAX Cloud Wallet has various other features, but these are not relevant for regular users, which is why we have not covered them in this article.
Founding block producer for the EOS mainnet. Telos, Proton, BOS, FIO, and Instar Block Producer. Active top WAX Guild. Partner in the Europechain sister chain. Investor in blockchain projects. Governance, intercultural cooperation, and security specialist. You can find us here:
EOS, Europechain, Proton, and Instar Block Producer name: eosamsterdam
BOS Block Producer name: amsterdambos
Telos Block Producer name: amsterdam
FIO Block Producer name: bp@eosamsterdam
WAX Guild name: amsterdamwax
Written by Yannick Slenter for EOS Amsterdam