Sui® | Suiet wallet built for everyone

Sui Wallet Extension | Suiet wallet built for everyone

Sui Wallet extension is a popular virtual currency wallet app designed for Sui, a blockchain platform. This open-source wallet allows Sui users to create a wallet address, view and handle assets on the Sui blockchain, and connect to dApps (decentralized applications). The wallet is a reference implementation for potential crypto wallets and apps in the Sui ecosystem. Lastly, it showcases the latest and unique Sui abilities. The Sui Wallet storage is an important ecosystem enabler because Sui has started to Move-powered ownership models, support large-scale use cases, and has other skills found in Sui.

Why Use Sui Wallet Extension?

The way to Web3 adoption is an authorized developer community and ecosystem. The Sui Wallet team is creating the top, high-performance blockchain to facilitate mass adoption, and the best apps, businesses, and ideas come from the community.

The wallet is a support tool and an ecosystem education, not a real wallet. It is open to coordination and wishes to see what its community will create. The present definition of cryptocurrency wallets needs improvement and optimization for quick user adoption and huge Web2 migrations as the wallet developers begin pushing for the following version.

Like other cryptocurrency wallets, Sui Wallet has three important parts you should note:

Wallet Address: A set of numbers and characters utilized to transact crypto assets to the Sui wallet. You must provide the wallet address to fund your wallet or receive assets from others.

Passphrase (or PIN): A safety key or a password containing 12 keywords. To restore your wallet, complete the Passphrase sign-in process to operate.

Private Key: A series of characters and numbers to access the account, pretty much similar to the PIN of your savings account.

With the Sui Wallet, users can do the following:

Set Up Sui accounts (or addresses)
Import private keys via other wallets.
Transact tokens, crypto, and NFTs to another wallet
Stake and earn SUI coins
Check recent transactions
View tokens, NFTs, and coins.
Auto merge/split crypto coins to the exact transaction amount.
Access transaction records or history in the Sui Explorer

Guide to Set Up and Use the Sui Wallet Extension

To use the wallet, you should download the Chrome browser extension on your device.

Install the Sui Wallet Chrome Extension

Use a Chromium-based web browser, and launch the official Sui Wallet web page on the Google Chrome Web Store.
Then, locate and press the Add to Chrome button.
Read the pop-up message for the extension and hit the Add Extension button.

Creating a New Sui Wallet

First, launch the Sui Wallet extension on your device.
On the homepage, select the Get Started option.
Then, you will obtain two options: Create a New Wallet and Import Wallet. Pick the Create New Wallet option.
In the Create Password box, input a reliable password for the wallet. Remember, it’s not a universal password for the wallet. It applies to this installation in this web browser.
After confirming your password, read the User Agreement and tick the checkbox.
Next, hit the Create Wallet tab.
Now, jot down the Seed Phrase visible on your screen and keep it in a secure location. Tap on the I Saved the Recovery Phrase box.
Lastly, hit the Open Sui Wallet tab. You must provide the password for the first use.
That’s all; you can now enjoy your crypto trading journey with Sui Wallet.

How to Stake SUI and Earn Rewards with Sui Wallet

You can stake your SUI tokens and earn rewards. Remember, these rewards are for testing purposes. When you stake tokens, you give the SUI assets to the validator to stake. This validator then rewards you forgiving them your token to stake. Note: SUI tokens have zero value on test networks.

You should go through the following procedure to stake your tokens and earn rewards.

Firstly, sign into your Sui Wallet and tap on the Coins icon.
Secondly, you should select the Stake and Earn SUI option.
Then, choose a validator you wish to stake with.
On the next page, you must specify the amount of SUI tokens you need to stake. Input an amount that leaves enough tokens in your wallet to pay the gas fees.
After this, press the Stake Now button. Your stake begins earning rewards from the beginning of the next epoch.