Creating an Algorand Wallet
To get started, you will need to set up an Algorand-compatible wallet. There are several Algorand wallets available to use with Pact. These include:
Use of Hardware Wallets
Pact, via 3rd party wallet extensions, supports the use of the Ledger hardware wallet. My Algo and Pera Wallet can be used with "hardware wallet mode" in combination with Ledger hardware wallets (view setup documentation). It is strongly recommended to use hardware wallets to secure your assets.
In the example below, we will set up an Algorand wallet using My Algo wallet. This walkthrough covers the initial setup process and connecting your wallet to Pact.
- 1.
- 2.Click 'Access Now'.
3. Read and accept the Terms of Service.
4. Create a password of your choice. You will need this password every time you access My Algo from this device.
5. In the My Algo dashboard, click 'New Wallet'.
6. Next, some tips on your mnemonic phrase and private keys will appear. Please familiarise yourself with these security tips and prepare to record your 25 word mnemonic phrase.
- Scroll over the tiles to reveal each section of your mnemonic phrase.
- Write down and back up your 25 words in the correct order.
- Do not share these words with anyone! These words can be used to steal your funds.
7. Once written down and stored securely, click 'Continue'.
8. Verify the phrase you've just recorded and give your wallet a name. Then click 'Create wallet'.
You are now ready to use your new wallet!