To set up a Yoroi wallet on your phone, you can follow these steps:
- Install Yoroi Wallet: Open the app store on your phone (Google Play Store for Android or App Store for iOS) and search for "Yoroi Wallet." Download and install the Yoroi Wallet app developed by EMURGO.
- Open Yoroi Wallet: Once the installation is complete, open the Yoroi Wallet app on your phone.
- Create a New Wallet: On the welcome screen, you will have the option to either create a new wallet or restore an existing one. Tap on "Create Wallet" to proceed.
- Secure Your Wallet: Yoroi will guide you through a process to secure your wallet. You'll be asked to set up a spending password, which is required for every transaction. Set a strong and memorable password and confirm it.
- Read and Accept Terms: Read the terms of service and privacy policy, and if you agree, tap on the checkbox to accept them.
- Backup Your Wallet: Yoroi will generate a recovery phrase for your wallet. This phrase is a series of words that can be used to restore your wallet if your phone is lost, stolen, or damaged. It is crucial to write down this recovery phrase and keep it in a safe and secure place. Tap on "Continue" to proceed.
- Confirm Your Recovery Phrase: Yoroi will test your knowledge of the recovery phrase by asking you to select specific words in the correct order. This step ensures that you have correctly written down and stored the recovery phrase. Tap on the words in the correct order to confirm.
Once you have successfully confirmed your recovery phrase, your Yoroi wallet setup is complete. You can now start using your wallet to send, receive, and manage your cryptocurrencies.
Remember to keep your spending password and recovery phrase secure and never share them with anyone. Losing access to your spending password or recovery phrase may result in permanent loss of funds.
To receive funds in your Yoroi wallet, follow these steps:
- Open Yoroi Wallet: Launch the Yoroi Wallet app on your phone.
- Access Your Wallet: If you have multiple wallets in Yoroi, select the wallet you want to use to receive funds.
- Navigate to Receive: Look for the "Receive" or "Receive Funds" option within the wallet interface. Tap on it to proceed.
- Copy or Share Your Address: Yoroi will display your wallet's receiving address, typically represented as a long string of alphanumeric characters. There are two common ways to share the address with others:
- Copy: Tap on the "Copy" button next to the address to copy it to your device's clipboard. You can then paste it into a message or any other application.
- Share: Tap on the "Share" button to choose from various sharing options available on your phone, such as messaging apps or email. This allows you to directly send your address to the sender.
- Share the Address: Send your Yoroi wallet address to the person or entity who intends to send you funds. Double-check the address to ensure it is accurate and matches your wallet.
- Wait for the Transaction: Once someone sends funds to your Yoroi wallet address, you need to wait for the transaction to be confirmed on the blockchain network. The time required for confirmation may vary depending on the cryptocurrency and network congestion.
- Check Transaction History: After the transaction is confirmed, you can view the received funds in your Yoroi wallet. You can usually find a transaction history or "Transactions" section within the app to see the details of the incoming transaction.