Set Up Your Avalanche (AVAX) Wallet with Zapit: A Step-by-Step Guide! (2024)

What is Avalanche?

Avalanche (AVAX) stands out as a blockchain platform associated with innovation and efficiency in the ever-changing cryptocurrency domain. Avalanche, which launched in 2020, is a decentralized system that prioritizes speed, scalability, and decentralized governance. Its agreement method, Avalanche Consensus, distinguishes it by allowing thousands of network users to reach consensus concurrently, making it an excellent alternative for a variety of decentralized applications.

In this guide, we will cover the key concepts of Avalanche and provide a step-by-step walkthrough on getting started with the Zapit wallet for AVAX transactions.

What is an Avalanche (AVAX) Wallet?

Avalanche wallet is a secure digital vault for managing AVAX tokens. Zapit, a user-friendly platform, provides users with a seamless experience of crypto wallets that connects smoothly into the larger Avalanche network.

How Does an AVAX Wallet Work?

Users can access their AVAX wallets using compatible wallet applications like Zapit. Upon installation, the wallet creates a unique address that functions as a secure storage location for AVAX tokens. Sending or receiving AVAX requires entering the recipient’s wallet address and the amount of tokens you wish to send or receive.

AVAX wallets use blockchain technology to secure and validate transactions, resulting in a trusted and tamper-proof record. Users can easily view their AVAX token balance and transaction history straight from the wallet interface. Zapit’s AVAX wallet offers a simple and secure platform for managing AVAX tokens on the Avalanche network.

How to Create an Avalanche (AVAX) Wallet on Zapit? A Detailed User Guide

The Avalanche network, with its blazing-fast transaction speeds and innovative features, is attracting a growing community of users and developers. Are you ready to join the ecosystem?

Let’s get you set up with an Avalanche (AVAX) Wallet on Zapit!

Step 1: First, Create Your AVAX Wallet

The first step is downloading the Zapit Wallet app. You can find it on:

Once the app is downloaded, follow the on-screen instructions to create your new wallet. You can also watch our tutorial for a detailed guide on how to ’Create a New Crypto Wallet or Restore an Existing Wallet’ here — https://youtu.be/8cDorTy1RYw

Step 2: Backup and Restore Your Seed Phrase on Avalanche (AVAX) Wallet

Backing up your Avalanche Wallet seed phrase is crucial for ensuring the safety and accessibility of your AVAX tokens. A 12-word phrase acts as a password to your wallet, and losing it could result in permanent loss of your funds. Here’s how you can securely backup and restore your AVAX Wallet on Zapit:

Backing Up Your Seed Phrase:

• Store your 12-word seed phrase in a secure location, preferably on a piece of paper, copy it down in a notepad or take a screenshot and store it safely.
• Or click “Export” to save the seed phrase as a text-file or password-protected file in the local storage of your device or the Zapit Cloud.

Restoring Your Wallet from Seed Phrase:

• If you lose access to your device or your initial Zapit app, you can restore it using your seed phrase by reinstalling the app and choosing “Import an Existing Wallet” option.
• Carefully enter your 12-word seed phrase in the right order either manually or upload the backup file from your local storage or the Zapit Cloud.

Step 3: Secure Your AVAX Wallet with Two Simple Settings

As we saw in the last section, a seed phrase helps secure your wallet from unauthorized access. To add more layers of security to your wallet, Zapit offers you 2FA (two-factor authentication) to keep your wallet safe in any device that you use with a PIN or fingerprint authentication. Here’s how you can secure your Avalanche (AVAX) wallet:

• Enable PIN or Fingerprint Authentication: Go to “Settings” and activate this feature. It ensures there is no unauthorized access to your crypto wallet even if your device is lost or stolen.
• Activate Payment Authentication: This additional step safeguards your funds against unauthorized transactions in your wallet.

Step 4: Add Funds to Your Avalanche (AVAX) Wallet

There are several ways to fund your Avalanche (AVAX) wallet on Zapit, depending on where your AVAX currently resides:

1. Transferring AVAX from an Exchange:

First, head to the “Receive” tab, select “Avalanche (AVAX)” from the list of coins and copy your Avalanche Address. Go to the “Withdraw” section on your exchange, paste your Receiving address and select the network as “Avalanche”. Send the amount!

2. Transferring AVAX from another Wallet:

To transfer AVAX from another cryptocurrency wallet to your Zapit Avalanche (AVAX) Wallet, go to the “withdraw” tab in your current wallet, choose Avalanche (AVAX) as the sending coin, copy your Avalanche wallet address from the Zapit app, paste it into the recipient address field, and confirm the transaction.

3. Using Existing Funds in Your Zapit Wallet (if applicable)

If you are an existing Zapit user with some BCH tokens or other crypto funds already stored in your wallet, here’s what you can do to get AVAX funds by swapping your tokens:

• First, go to the “Coin Swap” tab and in the first tab select a crypto that you want to swap for AVAX, let’s take an example of Bitcoin Cash. Select Bitcoin Cash (BCH).
• Then in the second tab, select “Avalanche (AVAX)” from the list of available options of coins.
• Click “Swap”!

Step 5 (Last One!) — Send and Receive Avalanche (AVAX) Tokens

Zapit offers convenient ways to receive and send Avalanche (AVAX) directly within your wallet, eliminating the need for external exchanges. Here’s how:

Sending AVAX Tokens:

• Open the Zapit app and click the “Send” button on the main screen.
• Select Avalanche (AVAX) from the list of available coins.
• Paste the recipient’s Avalanche wallet address or scan their QR code to fill in the address automatically. Double-check their address for accuracy to avoid sending your AVAX to the wrong recipient.
• Enter the amount of AVAX you want to send.
• Review the transaction details, including fees, and confirm the transaction.

Receiving AVAX Tokens:

• On the main screen of the app, click on “Receive”
• Now select Avalanche (AVAX) from the list of coins and your Avalanche address will be displayed.
• You can share your Avalanche QR code with the sender and/or copy the detailed address in the box shown below the QR code as text.

Advantages of Using an AVAX Wallet!

Here are the benefits of utilizing an AVAX (Avalanche) wallet on Zapit:

• Secure Asset Management: AVAX wallets provide a secure environment for asset management, with unique wallet addresses for encrypted storage.
• Seamless Transactions: Sending and receiving AVAX is simple, requiring simply the recipient’s information and the specified amount.
• Blockchain Security: By leveraging the Avalanche network’s powerful blockchain technology, transactions are validated and secured, resulting in enhanced user trust.
• User-Friendly Interface: AVAX wallets prioritize user comfort by offering a simple interface for real-time monitoring of AVAX token balances and transaction history. AVAX wallets are available on a variety of devices, providing users with flexibility and accessibility.

Final Thoughts…

Avalanche meets the requirement for blockchain ecosystems with customized policies and usage, as well as addressing the scalability issue that other cryptocurrency users experience while developing dApps.

With DeFi’s growing popularity, Avalanche has the ability to become one of the most recognizable blockchain technology efforts of its kind. Do you want to explore and get involved in the world of cryptocurrency? Then check out Zapit. It’s a simple way to get started with your cryptocurrency investment experience today!