04 October 2018

Create A NEO Wallet Address With NEL

Today, we are going to explore the NEL Web Wallet. We are going to learn how to create a NEO Wallet Address with the NEL Web Wallet.

NewEconoLabs aka NEL is one of the most active NEO developer communities worldwide. They are mainly focused on building out the Chinese developer community and have been very successful so far. Since its inception ‘NewEconoLabs’ has released a NEO blockchain explorer, NEL Wallet, and the team is getting closer at launching the NEO Smart Economy domain name service (.NEO) through NNS – NEO Name Service.

NewEconoLabs has also been very actively supporting the NEO Blockchain game development and is in the process of creating and launching the NEODUN Hardware wallet. If you are interested in learning more about the various projects they are working on, you can check their website at https://nel.group/index-En.html.

Pretty soon, you’ll also be able to participate in .NEO domain name auctions using the NEL Wallet, so why not check out the NEL how to get started with the NEL wallet!

Create a NEO Wallet with the NEL Web Wallet? (Video Tutorial)

If you simply, want a quick overview on how to create a NEO Wallet address with the NewEconoLabs (NEL) web wallet, you  can simply watch this short (2m:06s) video tutorial on how to create a NEO Wallet address using the NEL Web wallet service. However if you’d like a more detailed tutorial on how to create a Neo wallet with a web wallet, you can check the full written tutorial.

How to Create a NEO Wallet with the NEL Web Wallet? (Written Tutorial)

Before you get started, remember that you should try to take any precaution possible to ensure that you create your NEO Wallet Address in a safest manner possible. The safest way would be to use a wallet generator on a computer which never connects to the internet. However, in some cases, this might not be required. Maybe you’re just creating a wallet to store some pocket money. This  tutorial is divided in 2 steps. The first step shows you how to safely create a new Neo Wallet Address. The second step, will address how to Login and locate and store your WIF.

Step 1: Generate New Neo Wallet Address

If you are going to use the NEL Web Wallet to create your NEO Wallet Address, we recommend that you generate the NEO Wallet Address and Save/Store your ‘Neo Wallet Address’ info while being offline. So here is how you do that.

While being online, you surf to https://wallet.nel.group/. Once your browser has loaded the webpage, you disconnect your computer from the internet and you start the process. Now, click ‘GENERATE’

Generate NEO Wallet Address with NEL Web Wallet

Generate NEO Wallet Address with NEL Web Wallet

Here, you are prompted to ‘Name your Neo Wallet Address’ and you are asked to enter a password.

Note that there are some minimum requirements for the password. It should be at least 8 characters long and at least one character should be a number. Now, please before you click ‘Generate’, make sure that you write down your password and wallet name. If you have done that you can go ahead and ‘click generate’.

Now the ‘NEL Wallet’ will generate a new NEO Wallet Address, with the accompanying private keys.

Name Wallet and Choose Password

Name Wallet and Choose Password

Great! NEL Wallet has generated a NEO Wallet Address for you.

In addition, NEL has created a .JSON file, which essentially stores your encrypted private keys. You should store this file as you’ll need it to login for the fist time. Some people will choose to safe this file on a USB, instead of on their computer. You are reminded here not to lose the .json file as it can’t be recovered!

If you have saved this file, you are ready to move on to the second part of this tutorial which will show you how to get hold of the WIF private KEY and how to login to the NEL Wallet.

Download and Save json-file

Download and Save .json-file

Step 2: Login To ‘NEL Wallet’ and Locate/Save Private Keys

In order to login to the NEL Web Wallet with your newly created Neo Wallet Address, you simply select the .json file which you have previously stored and enter your password. If you have done that simply click ‘Login’

NOTE: As you can see, NEL also offers to LOGIN by;

  • Importing key from WIF String (So, if you have a WIF key you can Login by only using the WIF Key (no password, no .json file)
  • Importing key form Nep2 String ( This is the encrypted key, which is locked with a password) You are able to use the NEON wallet for example and create an encrypted key and lock it with a passphrase. While we do not cover the process in this tutorial, you essentially choose the option ‘Encrypt an existing key’ in the NEON Wallet (desktop wallet). You then enter your WIF key and add a passphrase to lock it. You can now login to your account using the  NEL Wallet with this ‘encrypted key’+ ‘password’.
Login To NEL Wallet - Locate and Save your private keys

Login To NEL Wallet – Locate and Save your private keys

So, now that you are logged in, and have access to your newly created Neo wallet address, we recommend you to locate & Save your ‘WIF’ key. You can think of the WIF key as your master key. Even if you lose the .json file and password, your WIF will allow you to always have access to your Neo Wallet Address. On the other hand, do note that anyone with this WIF in their possession will be able to access your funds.

What is a WIF key?

WIF refers to ‘Wallet Import Format’. It is essentially another ‘easier’ way of representing your private key. You can always convert the WIF key to the original private key.

To find your WIF key – GO to Settings

Locate WIF Key - NEL Web Wallet

Locate WIF Key – NEL Web Wallet

Here, the NEL Wallet will display your NEO Wallet Address and it will also allow you to ‘see’ your WIF key. We recommend you print out this WIF code, or write it down on a piece of paper as your ultimate ‘backup’. Remember that you should take all necessary precautions so that no one can get a hold of your WIF key. (don’t worry, this is a ‘test account’ and we will not put any funds on it :-))

So. Click on ‘VISIBLE’ to display your WIF KEY (offline)

It is up to you to decide how to keep it safe! If you are confident that you can read your own hand writing, go ahead.. don’t forget to double check, triple check. In case you choose to take a screenshot and print it out, you should be aware that some printers will store an image file, so you might want to delete those before reconnecting to the internet.

In the settings tab, you can also see the option to create ‘My Wallet File’. This function essentially allows you to ‘generate a new’ .json file and new password for you Neo Wallet Address.

Copy and Save Wallet Wallet public address and WIF

Copy and Save Wallet Wallet public address and WIF

Success – Neo Wallet created and WIF key safely stored.

That’s it, you can now use your newly created NEO Wallet address within the NEO ecosystem. The NEL Web Wallet allows you to send and receive NEO, GAS and other NEP-5 tokens. It also features the option to ‘Claim GAS’. If you’re unsure what it means to ‘Claim Gas’, we are addressing this topic the tutorial, How to claim NEO Gas With Neon Wallet.

If you are just getting started with NEO and would like a core guide on how to get started with NEO, do check out our NEO 101 guide.We are constantly updating this reference guide as we keep adding pieces to the puzzle.

 

NEO Wallet Created and Private Keys Securely Stored

NEO Wallet Created and Private Keys Securely Stored

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