How To Install And Stake With STRAX Wallet

Introduction

Stratis group provides a blockchain platform for .Net developers. Stratis provides the Strax Wallet through which you can send and receive STRAX in your crypto wallet. This article will elucidate the steps to install and create a Strax wallet as well as explain how you can stake it from the wallet.

Let’s move to the steps.

Installing Strax Wallet

Step 1

The very first step is to download and install the Wallet. You can download the wallet setup file from the official site of Stratis Platform by selecting the installation file according to your device.

Or you can directly go to Stratis GitHub and download it from there.

Step 2

Once it is downloaded, install it. To install run the installation file and click on I Agree.

Step 3

Choose the install location.

Step 4

Then click on Finish.

Hence, the wallet is installed successfully. Let go for creating New Wallet.

Step 1

Open the Wallet and allow the wallet application from Windows Firewall defender if it is asking you to allow it.

Step 2

Then click on Create or Restore Wallet as shown below.

Step 3

Enter Name, Password, Confirm Password, and Passwordphrase for your wallet and click on Create a new wallet button. Note that password Phrase is optional, if you use it, it provides additional security for your wallet and it will be needed while restoring/recovering the wallet in the future. It adds the additional recovery word in case you lose or corrupt the wallet. If you forget this you will not be able to recover the wallet. You must remember the password phrase along with the 12 secret words to get your wallet back.

Tips: Please save those secret words and passphrases in some safe and secure location.

Step 4

Then you will get Secret words (12 words - mnemonic). Copy these words and keep them safe. It will be needed in the future while restoring/recovering the wallet. Then click on Continue.

Step 5

Then provide the secret words for confirmation and click confirm.

After that, your wallet will be created and you will get the wallet creation successful message. Then you can choose your wallet name and log in to the wallet.

Step 6

Go to Receive section where you can see the address of the wallet. This is the address you can use for transactions. You can copy and share this address.

 

In this way, the wallet is created successfully. Now we will go for Staking.

Staking in Strax Wallet

Stratis wallet follows the Proof of Staking Algorithm (PoS) that’s why for Staking you need to have some Strax in your wallet. Once you have Strax in your wallet then you can follow the below steps for Staking. Note that staking should be done in a secure device with no malware and recommended to use a dedicated device.

Step 1

Open your wallet, choose a wallet name, and provide your password for the wallet, and click on Decrypt as illustrated.

Step 2

Then wait for it until it is 100% synchronized.

Step 3

After 100% synchronize, click on Stalking as depicted below. Note that for staking you must have Strax in your wallet so if you don’t have Strax, share your wallet address and deposit the Strax in your wallet.

Step 4

Provide your password and click on Unlock.

Then your Staking status will be changed from inactive to Active. Hence, the wallet will start the staking process. Cheers!

If you prefer watching videos, here is the video for you.

Furthermore, if you have an interest in staking, you can learn more about Cold Staking and Raspberry Pi as well.

Summary

In short, the article has described the steps to install, create and start the staking process in Strax Wallet. If you have any questions, queries you can reach to the Stratis support team through Discord or can write in the comment section below. Thanks for reading it. Enjoy your staking journey.

If you want to explore more in Stratis Blockchain you can check the below articles,

1. Getting Started with Smart Contracts
2. Write Your First Smart Contract
3. Voting Contract on Stratis Blockchain
4. API Integration in Custom Application
5. Integrate blockchain in E-Commerce
6. Stratis Blockchain in Unity Game