Creating and Managing a Sui Wallet: A Comprehensive Guide

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20 Jan 2024

What is Sui Wallet? Where to create a Sui Wallet? In today's article, I will show you the details on how to create a Sui Wallet.
Sui is a permissionless Layer 1 blockchain built on a monolithic structure that enables creators and developers to build experiences that cater to users in Web 3. Sui is described as a blockchain that can effectively handle all processes and activities on a single network. Sui aims to accomplish this by emphasizing scalability and low-latency parallel transaction processing.
Coin98 users can create and restore Sui Network wallets for testnets, as well as manage and store SUI, the native token of Sui Network.
To be able to skin in this blockchain, of course, you will need a Sui Wallet. In today's article, I will show you the details on how to create a Sui Wallet.

What is Sui Wallet?

The Sui wallet is where SUI tokens are stored on the Sui blockchain. You can send and receive SUI tokens as well as interact with applications on the Sui platform in the future.
In particular, this wallet is owned by you, so no one has the right to influence or use the wallet other than you.

What is included in a Sui Wallet address?

A Sui Wallet has 3 extremely important pieces of information you must take note:

Wallet address: A sequence of numbers and characters used to send assets to the Sui wallet. Others can transfer coins to you through the wallet address you provide. A Sui (SUI) wallet address will have the following format: 0xdabE3D912A14E6AD2Ad4F5Cb3026aC866133c2d.
Passphrase: A security key that can be understood as a password consisting of any 12 English keywords. If you want to perform the wallet recovery operation, you must go through the Passphrase login step. Format of a Passphrase: become toe armor elephant prison bar else rack snow achieve develop flag
Private Key: A string of letters and numbers to connect to the account, quite similar to the password of a bank account. Format of a Private Key: 8HRwXM3i6mkmEH8HJPaMpdGEqvPEoXGwXtwDgTpxjA9aCcqgSHYXhL1WEkGTpz2kRagp5YG8fY1jpz7DGx9PVKj

To visualize, you can imagine that the Sui wallet is a bank account, the wallet address is the account number and the passphrase is the password.
The difference here is that with a bank account, other people will know your personal information. As for the Sui wallet, the user becomes anonymous, no one knows who owns the wallet, and transactions only occur through the address encoded into a sequence of numbers and characters.

How to create a Sui Wallet on Mobile

This tutorial will guide you on how to create a new Sui wallet on both the mobile and desktop interfaces, so you can also install both to flexibly switch use.

Download and access Coin98 Super App

Sui wallet is now available on the Coin98 Super App for both iOS and Android users:

iOS: ios.coin98.com
Android: android.coin98.com

After downloading the app, open the Coin98 Super App and select the language you want to use before directly accessing the wallet interface.
At this interface, you can create a new wallet or restore an existing wallet from other wallet applications to the Coin98 Super App.

Activate the Sui blockchain

Step 1: Open the application, choose More → Active blockchain
Step 2: Choose Sui blockchain to active and click Confirm.

Create the Sui wallet

Step 1: At the homepage click the Wallet icon → Manage.
Step 2: Click Add Wallet and click on the Sui (SUI) icon to create a Sui Wallet, or you can choose to create a Multi-chain wallet to own more wallets with just one passphrase (recommended) → Create.
Step 3: Create a name for the wallet (name it something that you can remember or is convenient for later use). Click Next.
Step 4: Back up the Passphrase in a safe place.
Note: These are CRUCIAL information that directly affects control over your assets.

Copy and paste the Passphrase into the Confirmation box.
Tick the Backup your recovery key box and click on the copy icon to confirm that you have saved your Passphrase/Private key. You must save the security key in a safe place and do not disclose it to anyone. Otherwise, your account is at risk of being stolen if someone knows these sequences of characters.
Tick the two remaining boxes to confirm that you understand the risks if you lose your Passphrase.

Click Create Wallet.
Once done, you can also go to Manage → Manage All Wallets to check the newly created Sui wallet.

How to create a Sui Wallet on desktop

Install Coin98 Extension Wallet

You can access chrome.coin98.com to install the Coin98 Extension Wallet.
For instructions on installing and using Coin98 Extension Wallet, you can refer to this guide right here.

Create the Sui wallet

Update soon...

How to use the Sui Wallet

Get SUI devnet token

The Faucet feature on the Coin98 Super App has been released, providing users to get SUI devnet token on the Aptos network.
Step 1: On the Coin98 Super App homepage, click More → Faucet.
Step 2: Choose the SUI network and users will be moved to the devnet faucet section on the Project discord. Copy your Sui wallet address, then type "faucet! your wallet address" into the comment box to get Sui devnet token.

Add tokens

This process is similar on both the mobile and the extension versions, so you can follow these steps for both.
Step 1: Click the Sui wallet on the main screen.
Step 2: Click Receive.
Step 3: Copy the wallet address or scan the QR code address and send your assets to this address.

Send tokens

This operation works the same on both the Coin98 Super App and the Coin98 Extension Wallet. I will give an example of how to send SUI stored in the mobile wallet.
Step 1: Click the Sui wallet
Step 2: Choose Send.
Step 3: Select the token, insert the number of tokens you want to send & the wallet address to send to. Adjust the Gas fee slider to suit your needs → Slide the Send bar to confirm.
In addition, you can also go to the Send section in the main interface, then select the Sui wallet you want to send from.
Note:

The gas fee for each transaction is paid with SUI, approximately 100 SUI.
The default gas fee on the Coin98 Super App has been set at the standard rate that offers the most optimized speed at a reasonable cost.

Use the Sui Wallet Explorer to check the transaction history

Sui Wallet Explorer is the Sui ecosystem explorer, allowing access to information such as wallet addresses, cryptocurrency transactions, smart contracts, etc. Complex data is easier to grasp now than ever before.
Sui explorer that is commonly used by many users: explorer.devnet.sui.io

Some notes when using the Sui wallet

Is it safe to store SUI tokens in Coin98 Wallet?

Coin98 a non-custodial wallet, which means, full control of assets belongs to you, no one has access unless you disclose the key to others. Therefore, it is perfectly safe for your assets.

Is there a fee to transfer SUI tokens?

Sending SUI tokens from a Sui Wallet will cost the blockchain platform fee in SUI.

Is it possible to create multiple Sui wallets?

Yes! You can create as many Sui wallets as you want. Each wallet will have a different address and passphrase, so remember to save each of them. Each wallet should be named so that you can easily manage them if you create multiple Sui wallets.

Can Sui wallets store other coins?

Sui wallets can store SUI tokens supported by the Sui blockchain platform. Otherwise, do not transfer any coins on other blockchain platforms to Sui wallet if you do not want to lose your assets.

Summary

With the fast development of the crypto market, you will see a series of potential DeFi projects appearing on Sui. We hope the tutorial can help you to easily create and use the Sui (SUI) Wallet on Coin98.
If you have any questions regarding this tutorial, don't hesitate to leave a comment below! The Coin98 team will answer your questions as soon as possible! See you in our future posts!