The AVAX blockchain, developed by Ava Labs, is a scalable and decentralized blockchain that supports various applications. It addresses key issues in the blockchain space, such as scalability, interoperability, and usability. Avalanche blockchain allows for high throughput and low latency, making it ideal for decentralized applications and financial services.

However, traditional cryptocurrency wallets on AVAX often face challenges like security vulnerabilities, complex usability, and limited accessibility. Core Wallet addresses these issues by offering enhanced security measures, an intuitive user interface, and comprehensive asset management. It employs advanced encryption and multi-factor authentication, supports hardware wallets, and allows users to manage multiple cryptocurrencies within a single platform, making it a secure, user-friendly, and accessible solution for digital asset management.

What is Core Wallet?

Source: Core Website

Core Wallet is a non-custodial crypto wallet developed by Ava Labs. It is designed to manage digital assets and access decentralized applications (dApps). Core Wallet supports multiple blockchain networks, including Avalanche, Ethereum, Bitcoin, and any custom network operating the Ethereum Virtual Machine (EVM). Its primary purpose is to provide a secure and user-friendly platform for storing, sending, receiving, and managing cryptocurrencies.

Key Features and Benefits

1. Multi-Platform Availability: Core Wallet is available as a web app, browser extension, iOS application, and Android application. This ensures users can access their assets and dApps from various devices.
2. Enhanced Security: Core Wallet creates and manages private keys on behalf of its users, ensuring that funds are securely stored and transactions are safely signed. It also supports hardware wallets for additional security.
3. User-Friendly Interface: The wallet features an intuitive interface that simplifies the management of cryptocurrencies, making it accessible to both beginners and experienced users.
4. Comprehensive Asset Management: Core Wallet supports many cryptocurrencies, allowing users to manage multiple assets within a single platform. This includes tools for tracking and managing portfolios efficiently.
5. Seamless Transactions: Users can easily send and receive assets with minimal hassle. The wallet ensures quick and secure transactions, leveraging the AVAX blockchain’s capabilities.
6. Integration with Core Stake: Core Wallet integrates with Core Stake, enabling users to participate in staking activities directly from the wallet. This allows users to earn rewards by validating transactions or delegating their assets.
7. Developer-Friendly: Developers can interact with Core via web applications and mobile applications. The Core extension injects an object into the JavaScript context of every site the user visits, allowing web apps to interact with Core and request transaction permissions. Core mobile uses Wallet Connect for interaction with web applications.
8. Advanced Features: Core Wallet includes unique features such as seed abstraction, which enhances security and usability by simplifying the process of managing private keys.

Core Portfolio

Core Portfolio is a feature within Core Wallet that allows users to manage and track their digital assets efficiently. It provides a comprehensive view of all holdings, enabling users to monitor their investments in real time. This feature supports a wide range of cryptocurrencies, including those on the Avalanche, Ethereum, and Bitcoin networks, as well as any custom network operating the Ethereum Virtual Machine (EVM).

How to Manage and Track Your Assets

1. Unified Dashboard: Core Portfolio offers a unified dashboard where users can view all their assets in one place. This includes detailed information on each asset, such as current value, historical performance, and transaction history.
2. Real-Time Updates: The portfolio is updated in real-time, providing users with the latest information on their holdings. This helps users make informed decisions based on the most current data.
3. Asset Allocation: Users can see the distribution of their investments across different cryptocurrencies. This helps them understand the diversification of their portfolio and make adjustments as needed.
4. Performance Tracking: Core Portfolio includes tools for tracking the performance of individual assets and the overall portfolio. Users can set performance benchmarks and compare their holdings against these benchmarks.
5. Custom Alerts: Users can set custom alerts for price changes, transaction confirmations, and other important events. This ensures they stay informed about significant changes in their portfolio.
6. Export and Reporting: The portfolio feature allows users to export their data for reporting and analysis. This is useful for keeping records and performing detailed reviews of investment performance.

How to Make Use of Core Wallet

How to Create a New Core Wallet

1.Download and Install:

• Web App: Visit the Core website
• Browser Extension: Download the Core extension from the Chrome Web Store or Firefox Add-ons.
• Mobile App: Download the Core app from the App Store (iOS) or Google Play Store (Android).

2.Create a New Wallet:

• Launch the Core app or extension.
• Select ‘Create New Wallet’ and follow the on-screen instructions.
• Choose a Setup Method:

• Seed Phrase: Write down the 12 or 24-word seed phrase provided. This is crucial for recovering your wallet if you lose access.

• Email: Enter your email address and follow the verification steps. This method provides an alternative way to secure and recover your wallet.

  • Choose if you would like to add multi-factor authentication
  • Set a strong, unique password to protect your wallet.

How to Send and Receive Assets on Core Wallet

1.Sending Assets:

• Launch the Core app or extension.
• Select the ‘Send’ option from the command center
• Input the recipient’s wallet address. Double-check the address to avoid errors.
• Select the token you would like to send and enter the amount you wish to send.
• Review the transaction details and confirm. You may need to enter your password or use two-factor authentication to authorize the transaction.
• Once confirmed, the transaction will be processed and recorded on the blockchain.

2.Receiving Assets:

• Launch the Core app or extension.
• Select the ‘Receive’ option from the command center.
• Copy your wallet address or use the provided QR code and share with the sender
• Once the sender initiates the transaction, wait for the network to confirm it. You will receive a notification once the assets are in your wallet.

How to Bridge Tokens on Core Wallet

1. Launch the Core app or extension.
2. Select the ‘Bridge’ option from the command center.
3. Choose the tokens you want to bridge. Ensure you select the correct source and destination networks.
4. Specify the amount of tokens you wish to bridge.
5. Review the transaction details and confirm. You may need to enter your password or use two-factor authentication to authorize the transaction.
6. Once confirmed, the bridging process will begin. This may take some time depending on network congestion.

Core Stake

Core Stake brings the ability to validate, delegate, and perform cross-chain transfers directly within Core web. This feature allows users to help secure the Avalanche network and move AVAX between their X, P, and C Chain addresses with ease through a seamless user interface.

How to Validate in Core Stake

1.Ensure the Core extension is connected to Core web and navigate to the ‘Stake’ section.
2.Select the ‘Validate’ panel and click “Get Started.”
3.To validate, AVAX must be present on the P-Chain. If no AVAX is available, options to transfer from the X or C Chains, swap other C-Chain tokens, or buy AVAX will be provided.

4.Input your Node information, including the BLS Public Key and BLS Signature for your node.

5.Select a staking duration. A graph will show potential rewards based on the duration. You can choose from predefined durations or set a custom end date.

6.Choose the address where rewards will be paid out. This can be your connected P-Chain wallet address or a custom address.

7.Specify the delegation fee to be charged to delegators and the address for delegation rewards. Note that the minimum delegate fee is 2%, and the maximum is 100%

8.Review your validation information, make any necessary adjustments, and click “Submit Validation.”

9.Once completed, you will see a confirmation of successful validation. You can view transaction details on the Avalanche Explorer or return to the Stake section.

How to Delegate in Core Stake

1.Ensure the Core extension is connected to Core web and navigate to the ‘Stake’ section.
2.Select the ‘Delegate’ panel and click “Get Started”.

3.To delegate, AVAX must be present on the P-Chain. If no AVAX is available, options to transfer from the X or C Chains, swap other C-Chain tokens, or buy AVAX will be provided.
4.Choose the node to delegate your AVAX to. You can scroll through the list, search for a specific Node ID, or use advanced filtering options. Click ‘Select’ and then ‘Next’.

5.Select a staking duration. A graph will show estimated rewards based on the duration. You can choose from predefined durations or set a custom end date.

6.Choose the address where rewards will be delivered. This can be your connected P-Chain wallet address or a custom address.

7.Review your delegation information, make any necessary adjustments, and click “Submit Delegation.”

8.Once completed, you will see a confirmation of successful delegation. You can view transaction details on the Avalanche Explorer or return to Core Stake.

Conclusion

Core Wallet stands out as a powerful tool for storing and managing digital assets and interacting with decentralized applications on AVAX. Core Wallet addresses common issues in traditional wallets by offering enhanced security, user-friendly interfaces, and comprehensive asset management. With features like seed abstraction, cross-chain transfers, and integrated dApp browsing, Core Wallet simplifies the complexities of cryptocurrency management.

Whether you’re a beginner or an experienced user, Core Wallet provides the tools and features to securely store, send, receive, and stake your assets. Its multi-platform availability lets you access your wallet from any device, making it a versatile and convenient choice for all your crypto needs.