How to create an ERC20 wallet?

This is an easy-to-follow guide to help you to create an ERC20 wallet using MetaMask.

Tokeny issues tokens on the Ethereum blockchain, and for that you need an ERC20 compatible wallet where you and only you holds the private key to participate in token sales conducted on Tokeny platform. Once the trade settles, the smart contract will transfer the tokens to your Ethereum wallet address.
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‍Note: please do not pay from any exchange address.

‍There are plenty of ERC20 compatible wallets, such as MetaMask, MyEtherWallet, Mist. At Tokeny, we would recommend you to use MetaMask as it is the easiest to use. You can install the MetaMask add-on with browsers such as Chrome, Firefox, Opera, and Brave. It includes a secure identity vault, providing a user interface to manage your identities on different sites to sign blockchain transactions.

Metamask allows you to perform activities on the Ethereum blockchain without having to leave your browser. It provides you an easy and simplified access to run Ethereum dApps. Metamask works on Chrome, Firefox, Opera and Brave.

1. Install MetaMask extension:

To create a metamask account, you will need to install the Metamask Chrome extension. You can find it using this link (for Chrome) or by going to the Metamask website.

At the end of this step, you should have a Metamask extension in your browser looking like this:

2. Create a wallet:

Once you have added the extension, a window will automatically appear and display the next couple of steps to set up the account.

a. Click on the “get started” button to start the process:

b. To create your first wallet click on “Create a Wallet”. This will permit you to create your first Ethereum Wallet. If you already have a wallet but would like to set it up on Metamask, follow the “import wallet” button.

c. The terms and conditions page appears. Signing up to Metamask won’t be possible if the user does not click “I agree”. Make sure to read it through and understand the terms and conditions before accepting:

d. Next, create a Metamask vault password. Make sure to use a strong password that you will also remember.

e. In the next step, Metamask provides a video to show you how to secure your wallets. Clicking 'Next', you will be taken to the next step, where you can find your Secret Recovery Phrase by clicking on the indicated area. You will see 12 random words. This phrase will permit you to restore your account if one day you forget the password.

You will be instructed to store your phrase in a password manager like 1 Password as well as to write this phrase on a piece of paper and store it in a secure location.

f. In order to confirm your secret phrase, Metamask will require you to provide the phrase again, selecting the words in the right order. This will ensure them that (1) you have understood the principle behind the secret backup phrase, and (2) you have safely saved the phrase for any possible future use of it.

Once the phrase has successfully been made in the previous step, your vault/wallet is created and ready to be used. The following message will appear on your screen:

Your vault/wallet will look like this:

1. View Balance:

You can view the balance in the main account or the balance of any other account they have also set up with Metamask.

2. View the networks the account can navigate on:

You can view the networks to navigate on. There are a couple of networks such as “Main Ethereum Network”, “Ropsten Test Network”, etc. To get access to that, the user must click on the name of the network they are currently using, which is situated at the top middle of the window.

3. Wallet address

a. You can hover your mouse over the account name, a gray frame will appear. Clicking this area, your wallet address will be copied.

b. Or you can click on the “...” on the top right hand of the window. Then, select “Account details”.

This will give you access to the wallet address, the Etherscan, and the private key. You should know that the waller address is a series of 42 numbers and letters.

Copy the wallet address in either of the above ways and paste it into the "Ethereum Wallet" step in the Tokeny's funnel.

If the user wants to double-check the wallet was correctly copied, they can check whether the last numbers of the wallet address are correct.
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Additionally, if you plan on creating more than one account, there is the possibility to rename these after completing the steps in the offering funnel. This can be done in the same window as before. Next to the account’s name, there is a little pen which gives the option to modify the name. Make sure to tick the checkbox before closing the window to save the new name.

If you decide to subscribe security tokens on the Tokeny platform, the option to use Metamask will be available. The only thing the user needs to do is:
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1. Click on the Metamask logo, the little fox, on the ‘Ethereum Wallet’ step.
2. Insert password
3. The wallet will then appear automatically on Tokeny’s platform.

At this point, you only need to click ‘continue’ once this has been completed, your wallet will be safely kept among your information for the security offering, and you will eventually receive your tokens on that wallet.

We hope this guide has been useful. Any questions then let us know at contact@tokeny.com.