Kukai Wallet - An Open-Source Wallet To Manage Your NFTs

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Jun 01, 2023

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The Tezos blockchain's longest-running web3 wallet, Kukai Wallet, has been around since at least 2018. The best wallet for Tezos was developed by Swedish developer Klas Harrysson.

Harrysson's decision to develop DirectAuth, a feature that allowed users to send and receive content using social media identities, was crucial to their path of onboarding more than a million people, and everything began to get more traction at that point.

It began focusing on the Tezos NFT scene, one of the most active environments for 1/1 art in all of cryptocurrency, in 2021. Many of the Kukai Wallet's features are specifically designed for NFT fans, although it also supports other cryptocurrencies like XTZ, USDC, etc.

What Is Kukai Wallet?

With Kukai, a Tezos browser-based wallet, users can send and receive digital assets, store NFTs, use dapps, and stake XTZ across the network with just a few clicks.

COPYRIGHT_HOOK: Published on https://thehooksite.com/kukai-wallet/ by Maxwell Canvas on 2023-01-18T11:37:53.914Z

The program was created by Kukai developers who kept three guiding ideas in mind while doing so: security, community, and reliability.

Also, Kukai offers NFT aficionados a place to store their digital assets while also exploring a variety of collections and apps. The Tezos blockchain offers a variety of initiatives, including games, markets, exchanges, and more, all of which can be found through the wallet app.

NiftyFilm Education Series - How to Create a Kukai Wallet on Tezos

Benefits Of Kukai

Simple Interface

It's pretty simple to use Kukai, easier than Temple.

DirectAuth

With Kukai, you can use your username on Google, Twitter, Reddit, or Facebook instead of your lengthy wallet address. This makes sending and receiving money simpler.

Jampacked With NFT Features

Using the wallet's Discovery feature, you can browse thousands of NFT collections. Additionally, it offers stronger NFT drop support.

Problems With Kukai

No Integrated DEX

In contrast to Temple, the wallet does not support in-app token swaps.

Inadequate Privacy

Users of Kukai don't have the same amount of anonymity as those of other wallets because of the nature of the DirectAuth function.

Utilizing Kukai Wallet

Due to its straightforward design, users can quickly become comfortable with the Kukai wallet. You can use this guide to learn how to use the wallet and explore its features. The processes are completed in a matter of minutes.

Start Kukai

By entering its URL into a search engine or going to the app portal, users can start the Kukai application. In contrast to extension-based browser wallets, Kukai is easily accessed via a web gateway.

Creating A Kukai Wallet

The application's user interface is simple, and creating an account is not too difficult. Your seed phrase should appear once you click Create New Wallet.

As an alternative, if you prefer something simpler, you can decide to build a wallet using a social media account (Google Twitter, Facebook, or Reddit). Even though this is a simpler approach, we strongly advise against it for two reasons.

First off, due to the inherent weaknesses of social media networks, it's not the safest way to manage a wallet. This puts your private keys, and consequently, your money, in danger. Second, we urge you to embrace web3's decentralized spirit.

The first step toward becoming a responsible holder in charge of your own finances is learning how to handle your own cryptocurrency wallets. Let's continue the setup instructions now.

Protect The Kukai Wallet Seed Phrase

A seed phrase, which is a string of words that acts as the master key for your account and digital assets, is generated by Kukai each time you establish a new wallet.

To increase security, you could memorize it. As an alternative, you may put it in writing and keep it in a secure location. The next step is to click.

TezTalks Live - Kukai Wallet 1.9: DirectAuth with Reddit, Google, Twitter

Verifying Your Seed Phrase

Kukai will request that you confirm your seed phrase by typing the missing words. This will verify that you are following proper security procedures. To proceed, you must finish it.

Set Up A Password

Choose a secure password because the program will need it to confirm transactions. Keep in mind that you must meet the necessary password strength in order to move on to the next page.

The final step verifies that creating your wallet was successful. Your public address will be displayed on your screen for transmitting and receiving digital items. Lastly, you can choose to download your Keystore file and use it to get into your Kukai wallet.

How To Deposit Tez (XTZ) To Kukai?

You should have enough money in your wallet to cover transaction fees (roughly a few cents worth of tez). You must first deposit some XTZ into Kukai.

There are two approaches. To save time, you can either purchase it directly from the app using a credit or debit card or if you already have an account, you can send it from an exchange.

Purchase Directly Using MoonPay

You can immediately access MoonPay on Kukai wallet, specifically in the Balances area, denoted by a plus sign ("+"). When you click it, the platform is automatically brought up on the website.

You can choose your own spending limit in any accepted currency. You'll then see a summary of your transaction. The network and processing costs you must pay for validators and MoonPay are also broken down.

When finished, press the Continue button. The full sum can now be paid to get the money in your Kukai wallet. For confirmation of the transaction, check your account.

Buy From Exchanges

Purchasing from exchanges that offer them for sale, such as Binance, Coinbase, and others, is an additional way to fund your Kukai wallet. Use your preferred platform to withdraw the tokens, then send them to your public address.

Be aware that purchasing tokens involve transaction costs. Therefore, always keep it in mind as you work.

Conclusion

The open-source wallet Kukai makes managing and storing your NFTs straightforward. You can use Kukai to buy, sell, and exchange tokens with other users in a safe and secure setting.

Organize your digital assets and link them to the different websites you frequently visit. It just takes a few minutes to create a new Kukai wallet. You can actually buy and sell NFTs from your wallet in five to ten minutes with just a few mouse clicks on the screen.

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