Rónin Wällèt
Install Ronin Wallet for the easiest way to manage and store your digital assets.
Last updated
Install Ronin Wallet for the easiest way to manage and store your digital assets.
Last updated
Are you familiar with Axie Infinity? This popular blockchain game was developed by Sky Mavis. Players can breed, collect, and trade the beautiful NFT creatures known as Axies on this Ethereum-powered platform.
The cryptocurrency wallet created for Axie Infinity is called Ronin Wallet. It runs on the Ronin blockchain, which functions as an Ethereum sidechain. The Ronin network significantly lowers the cost of playing Axie Infinity and makes it a lot easier to trade and nurture Axies. Other NFT games on the Ronin blockchain are also compatible with the Ronin Wallet.
Overview
The NFT gamers should be aware of Axie Infinity, the Ethereum-based collectible game that has been gaining popularity since its release in 2018. For those who are unfamiliar with the title, consider Axie Infinity to be a more recent iteration of CryptoKitties which has drawn inspiration from Pokémon.
On a blockchain-based marketplace, players can breed, gather, and exchange adorable animals called Axies as well as virtual lands and stuff. To fight game monsters or contest against other players, they can also join teams. Smooth Love Potion (SLP) tokens, which are a digital currency that can be sold on crypto exchanges like Rain, are the way that Axie Infinity pays its gamers.
The expansion of Axie Infinity was constrained by the high costs associated with the Ethereum network. Sky Mavis creators launched the Ronin blockchain, a tailored sidechain for growing NFT games and it charges cheaper transaction fees. Additionally, the group created the Ronin Wallet, a mobile and browser extension wallet for gamers to save their cryptocurrency and NFTs including Axies.
What's the Benefit of Using a Ronin Wallet?
Ronin Wallet is a cryptocurrency wallet that runs on the Ronin network, an Ethereum sidechain. It is accessible as both a browser extension and a mobile app (Android and iOS).
You can connect to other Decentralized Applications (DApp) that run on the Ronin network as well as the sought-after game Axie Infinity using the Ronin wallet. After creating a Ronin Wallet, you can log in to the Axie Infinity Marketplace to set up your account and start playing the game.
The Ronin Wallet is also best for sending and receiving NFTs and bitcoins using less gas cost. Your Ronin Wallet now supports Wrapped Ether (WETH), Axie Infinity Shard (AXS), Smooth Love Potion (SLP), and USDC.
Gamers on Axie Infinity can acquire AXS and SLP, two ERC-20 tokens, by completing daily tasks and engaging in combat with other users. As of now, you can breed new Axies using AXS and SLP. There will be no AXS breeding requirements in the future because the token would only be utilized as a governance token. SLP can be traded on cryptocurrency exchanges like Rain as well. Users can now trade their NFTs and cryptocurrencies directly by paying low gas expenses.
Install the extension on Chrome or Firefox to generate a Ronin Wallet. As an alternative, you can download the mobile app from Google Play or the Apple Store.
Steps for Creating a Ronin Wallet
Install the Ronin Wallet extension on Google Chrome or Firefox browser
Upon opening the extension, you’ll be redirected to the Ronin Wallet’s setup page. Here you need to set up an account and create a strong password
When you’re done, click on the Create Wallet button
Your seed phrase will be hidden. Click [Reveal Seed Phrase] to reveal it, then copy it. If you ever need to get your wallet back, you should store it in a secure place. Refrain from sharing your seed phrase with others
Enter the seed phrase and click on the Continue button. Now your Ronin Wallet is ready to use.
It's essential to remember that Ronin Wallet is a non-custodial service, which means that nobody else, not even the Ronin developers, have access to your money. No one can assist you in recovering the wallet if your seed phrase or private keys are misplaced, stolen, or destroyed. To restore your account, you should always write down your seed phrase and save it in two to three separate locations.
Now you can click on the browser extension to view the main interface of Ronin Wallet. The wallet name [Account #] and your Ronin Wallet address are displayed at the top. This address must be given when transferring the assets. Your current balance of ERC-20 tokens and ERC-721 NFT tokens are shown in the [Assets] section. Click [Activities] to view the history of your transactions.
Creating an Axie Infinity Account with Ronin Wallet
We have listed down the crucial steps to help you set up your Axie Infinity account with Ronin Wallet:
Visit the Axie Marketplace and click on the Login button
Click on the Login with Ronin Wallet option and then click confirm so your game can connect with the Ronin Wallet
Select a username now, then click [Save]. Add your email and create a password to secure your account to finish the setup. Your account with Axie Infinity is now set up.
How to Purchase Axies
Only Wrapped ETH (WETH) is supported by the Ronin Wallet. You must deposit WETH into your Ronin Wallet to buy Axies. These are your two options:
Option 1: The first choice is to use a personal wallet to change ETH into WETH via a Ronin Bridge. You'll have to pay Ethereum gas costs to do this. You can also purchase ETH on Rain if you don't have any.
Option 2: You can transfer Wrapped ETH (WETH) that you already have in your Rain account directly to your Ronin wallet using the Ronin network (RON). You won't need to utilize a Rain Chain Wallet in this situation. You won't have to pay Ethereum gas fees. So, this is a better choice.
You can link your Ronin wallet to the Axie Infinity Marketplace and purchase Axies from other players as soon as there is WETH in your Ronin wallet.
How to Carry Out a Transaction with Ronin Wallet
All you need to do is open the Ronin Wallet extension and click on the Send option. In the “To” section, paste the destination address. Afterward, you need to choose the asset (WETH, AXS, OR SLP), enter the amount, and proceed to the next step.
Cross-check the information and click the Confirm button. You can carry out 100 transactions for free every single day. It saves you from the hassle of paying transaction charges.
Conclusion
By using the Ronin Wallet, you can step into Axie Infinity's world of fun and entertainment. As a gamer, you can transfer funds, exchange Axies, or exchange other NFTs with ease. The virtual transactions are free. You can also make full use of Ronin to establish links with other DeFi projects and NFT fun games.
