Solana is a new generation blockchain with a different wallet mechanism from blockchains we have seen before. In this article, let's learn how to create a wallet for Solana Blockchain's SPL tokens on Coin98 Wallet.
Different wallet mechanism of Solana Blockchain:
- SOL wallet is the parent wallet, which is created for free like other wallets on Coin98 Wallet
- SPL tokens, such as Serum (SRM), which is a sub-wallet of the SOL parent wallet, need a small fee to update the contract when creating.
Here, I will take the example of creating a Serum (SRM) SPL Wallet on Coin98 Wallet.
Step 1: Create a SOL wallet. Read more: How to create a new wallet
Note: Passphrase is extremely important information for you to recover your wallet. Anyone with this information can access your wallet and funds. Back up your passphrase carefully in a safe place.
Step 2: Deposit SOL (minimum 0.0021 SOL for a wallet) for SRM SPL wallet creating fee. Read more: How to send & receive coins/tokens on Coin98 Wallet
Step 3: Create Serum (SRM) SPL Wallet
- Select Add token icon as shown in the picture
- Search for "SRM" and Select the + icon next to SRM
- Click "Create" to confirm creating SRM SPL wallet
- Wait a moment for the contract to be updated, and you have successfully created a SRM SPL wallet.
- You can see that there are 2 types of SRM: SRM ERC-20 and SRM SPL. In this article, we are going over how to create an SRM SPL wallet, so be sure to choose the right one.
- On Coin98 Wallet, each SOL wallet will be able to contain one SRM SPL wallet as well as one wallet for each SPL Token.
- The SPL Token wallets will be attached to the SOL wallet containing it. If you restore or delete your SOL wallet, your SPL Token wallet will also be restored or deleted.
Together we went through how to create a SPL Token wallet of Solana Blockchain on Coin98 Wallet.
Have a great journey with the Coin98 Wallet!