Wallets store your Collectibles and cryptocurrencies. They also provide authentication to the VRYNT system to have access to your VRYNT credits and proceeds. You should not share any seed phrases or passwords with anyone.
The VRYNT Team will never ask for your password, private key or seed phrase. Do not provide them to anyone. If someone requests it, please contact VRYNT immediately.
Your wallet can hold:
Collectibles you purchase
VRYNT tokens you receive from redeeming VRYNT Proceeds
Other Cryptocurrencies that you transfer to your wallet not related to VRYNT
These items are fully in your control, and more precisely VRYNT has no control or ability to access these items. We also cannot reset a lost password, or recover an item. So it is extremely important that you manage your passwords carefully and keep them secret.
Your wallet will not hold:
VRYNT Gallery Rewards
VRYNT Component Packs
These all exist on the VRYNT platform in your account. However, your wallet is what we use to authenticate you to the system, it's how we know you are you. Therefore your wallet is your identity on VRYNT, and important for your account security.
VRYNT collections and VRYNT tokens exist on several blockchains (think of it as different countries currenccies). From time to time, your wallet may prompt you to switch blockchains to support a particular collection or transaction.
If you opted to sign into VRYNT.io with an email or google, a wallet was automatically created for you with Torus and connected directly to that method you signed in with. With Torus, new users can utilize their social logins for ease of access to Web3 and dApps. Users can also purchase crypto directly from the wallet. The Torus Wallet is a non-custodial wallet (that means VRYNT does not have any control or access to it) that allows users to connect to Ethereum and other blockchains using Social logins and biometric authentication).
It is important to note, if you chose the Google Single Sign on with a particular gmail address, that is a different and separate identity if you sign in with an email address using the same email. One way uses your email and password as your identity with VRYNT. The other way allows Google to manage your identity and authentication (but uses the same email address. If you are signing in with Gmail, we recommend you select the "G" and use Google single sign on, it is just easier.
Most of the time on VRYNT you will not need to interact directly with your Torus Wallet. When blockchain based transactions or logins happen, VRYNT will initiate the appropriate prompts with your Torus wallet to confirm you approve these transactions.
To view the getting started guide for Torus, click here.
1. To enter your Torus wallet, you can head to wallet.tor.us, or if you are signed in, you can select the torus wallet widget at the bottom left of the VRYNT site, and click "Open Wallet".
2. If you would like to pay for items on VRYNT with cryptocurrencies, you may choose to facilitate that transaction from Torus as well. There are various ways to transfer cryptocurrencies into your Torus Wallet, but it also has a built in TopUp function. From the Home Screen of the Torus Wallet, select "Top Up" on the left-hand side of the screen under your account balance.
3. Choose a provider from the list to purchase tokens and fund your wallet. Each provider has different fees and limits; some will offer more crypto tokens than others.
You can also view your collectibles in your wallet, we handle that in a different article.
MetaMask is a common wallet to connect to the VRYNT Platform. You can download Metamask here.
Once you have a MetaMask Wallet, you will need to configure it for use on the AVAX blockchain sine many of our original collections are on the AVAX chain. You can access the official guide here.
Store your Key Phrase in a secure location. Anyone with this Key Phrase can access your Avalanche Wallet. There is no way to recover lost Key Phrases. Please do not take a screenshot of your key phrase, or save it on your computer, as it can be vulnerable to hacks.
Only you have access to the password & recovery phrase for MetaMask. Unlike a bank account, there is no customer service support to help you reset the password if it is lost.
A hot wallet is an online storage account for your crypto and NFTs. It can be accessed on your phone or computer, as long as it is connected to the internet. The pros are that it allows you to quickly communicate with any dApps or exchanges. The drawback is that the same ease of connection to the internet can also make it more susceptible to hacks.
Examples of Hot Wallets are the following:
Cold Wallets are often referred to as hardware wallets or cold storage. It's a physical device that stores your crypto and NFTs offline. They need to connect to a computer or phone through a USB port or Bluetooth to be accessed. When disconnected from these devices, they cannot be accessed and protect the user from online hacks.
The downside to hardware wallets is that you must possess them to access your tokens. If you lose the hardware wallet, you lose your funds.
Ultimately the choice is yours, but best practices suggest using both. You can leave tokens and NFTs that you are trading on a hot wallet, and long-term holds or those of significant value can be locked away offline in cold storage.
Again, the choice and responsibility lie with the user and their preference regarding how they will use and access it.
One thing to keep in mind is if you purchase a cold wallet, order it directly through the manufacturer. It's not worth saving a few extra dollars purchasing it second-hand, as hackers can preload it with malicious software that can be hard to detect.
Crypto wallets are comprised of a public key and a private key. The keys identify the wallet's owner and carry out secure transactions. Public keys are the address that you provide to others to receive funds. Think of it as providing your mailing address to someone to receive mail, except in this case; you are receiving digital funds or Digital Collectibles. Private keys are just as they sound - private. It is the key to your digital wallet.
You should never share your private keys with anyone, as this provides the holder access to all the funds in the wallet. You should never store private keys on your computer or phone for security purposes.
A seed phrase is a randomly generated cryptographic combination of words that serve as a password that allows private keys to your cryptocurrency wallet to be created. This seed phrase sometimes referred to as a ‘recovery phrase’ or ‘mnemonic phrase’, is the key that allows you to unlock access to your stored cryptocurrency. This phrase can vary in length and is sequentially randomised but must be input in a specific order.
Do not store these on your PC or phone like your private keys.