In order to buy a token on Royal, you need a place to store it. This is called a wallet.
Think of your crypto wallet like a purse. In the physical world, your purse holds money (cash and credit cards), carries things (sunglasses, keys, chapstick, etc), and is uniquely yours.
Your crypto wallet also holds money and things. With your wallet, you can:
- Store your cryptocurrency
- Use it to pay for things
- Store your purchases - including any tokens purchased on Royal.
And just like a physical purse, you want to keep it safe. If anyone gets into your crypto wallet, they now have control of everything in it.
If you’re using MetaMask, you’ll get a secret passphrase to keep your wallet safe.
Note: Anyone with this passphrase can take stuff out of your wallet, so it’s important to keep it secure.
Supported wallet types
While you may connect any wallet that worked with Wallet Connect to your Royal account, this guide will focus on setting up a MetaMask wallet.
What's MetaMask, and why do I need it?
Metamask is a browser extension that serves as a crypto wallet for Ethereum and ETH-compatible blockchains- allowing users to store Ether and other ERC-20 tokens to be used for transacting with the decentralized internet (web3).
Step 1: MetaMask desktop installation
- Go to metamask.io
- Click 'Download'
- Click 'Install Metamask for Chrome'. Once installed you will be able to click the puzzle piece icon in the top right of your browser (next to your profile pic).
- Click 'Get started'. For the purposes of this guide we'll assume you don't have a wallet. Click 'Create a wallet'.
- Create a strong password according to Metamask's guidelines.
- After you create a password you will receive what's called a 'Secret Recovery Phrase.' This is a critical step as your 'Secret Recovery Phrase' is how you'll be able to restore your wallet if you ever lose access to your device. We recommend writing down the 12 words on a piece of paper and storing it in a secure location. Do not ever share your secret recovery phrase with anyone. Having multiple backups stored in secure locations is recommended.
- Confirm your secret recovery phrase by clicking the words in the correct order then click 'Confirm'
- Click 'All done'
Congrats! 🎉 You now have your own MetaMask wallet!
Step 2: Connect your MetaMask
- Go to this link > 'ADD A WALLET`
Note: If you have any other wallet extensions such as the Coinbase Wallet extension installed on your browser, this can cause MetaMask connection issues. We suggest turning off or removing any other wallet extensions aside from MetaMask from your browser.