The growth of Vietnamese based Axie Infinity has been astonishing, with over 2 million users login into the platform and players earning thousands of dollars monthly. So if you´re interested in playing Axie Infinity or just looking to stake AXS tokens to earn 100+ APY, you will need a Ronin wallet.
In this Ronin wallet tutorial, I will show you how to download and set up your Ronin wallet, connect it to a Trezor Hardware wallet. Plus how to buy AXS tokens or withdraw them from the likes of the Binance exchange.
What is the Ronin Wallet?
The Ronin wallet is a non-custodial wallet that was developed for Axie Infinity. The blockchain game developed by Sky Mavis runs on Ethereum and allows players to collect, breed, and trade NFT characters known as Axies.
The Ronin wallet, which Is available as a mobile app or browser extension runs on the Ronin blockchain. The Ronin network was created by Sky Mavis developers to help to make it cheaper to trade and breed Axies, compared to running on the Ethereum network.
The wallet allows you to interact with Axie Infinity, and other Decentralized Apps running on the Ronin blockchain like the Axie infinity staking dashboard. Plus you can also use the Wallet to send and receive cryptocurrencies and NFTs.
Ronin Wallet Tutorial
Ronin Wallet Fees
To use the Ronin wallet you’ll need Ronin RON tokens to pay for the transaction fees. At the time of writing this Ronin Wallet Review, you can get these tokens for free when creating an Axie Infinity marketplace account for your wallet.
Although, this may transition to paid RON tokens in the future.
The Ronin Wallet supports cryptocurrencies on the Ronin network. At the time of this recording these include; WETH, USDC, AXS, and SLP tokens that players can earn on Axie Infinity.
Ronin Wallet Private Keys
Ronin wallet is a non-custodial wallet, which means you’re in complete control of your crypto and no one else has access, not even Sky Mavis. Therefore, if you lose, or forget your password there’s no reset button to fall back on.
It also means that you own what is called your private keys, or your recovery phrase. This can be used in the event you need to restore your wallet, due to loss, theft or if your laptop breaks.
During the install, you’ll be prompted to write down your recovery phrase and you’ll need to keep it somewhere really safe as anyone with access to these will have complete control over your crypto.
Connecting to a Hardware Wallet
With the Ronin wallet, you can connect your wallet to a hardware wallet (which is Trezor). Meaning that your tokens never leave the safety of your hardware wallet.
To connect to a Trezor;
- Connect your Trezor to your computer using the USB cable
- Choose to “Allow”
- Enter your passphrase
- Select an Account to Import from the list
Swapping with Ronin Wallet
There’s a swap function within the Ronin wallet, which will redirect you to Katana (the decentralised exchange for Ronin). Essentially, from here you can swap from any Ronin network supported token to another.
To use the exchange, you’ll need to use Ronin tokens for your transactions fees to swap and approve.
How to Transfer AXIE Infinitiy AXS Tokens from Ethereum to Ronin Network
If you’ve purchased your AXS tokens on exchanges such as Crypto.com or FTX, you may find that your tokens are currently on the Ethereum Network. However, to store them in the Ronin Wallet, you’ll need these on the Ronin Network instead.
There are 2 ways to get your tokens from the Ethereum Network to the Ronin Network:
- Using the Ronin Bridge
- Withdrawing from Binance on the Ronin Network
Alternatively, you can purchase your tokens from directly within the Ronin wallet which will automatically be on the Ronin Network. This can be found under the “Deposit” button, or check out our tutorial above.
For more instructions on how to bridge or withdraw with Binance, check out our Axie Infinity Staking article.
How to Get Free Transaction Fees on the Ronin Network
If you want to interact with the Ronin Network and use the Ronin Network, you’ll need RON tokens to pay for the transaction fees. Similar to how you need ETH to pay for transactions on the Eterheum network or BNB for the Binance Smart Chain.
At the time of writing this Ronin Wallet tutorial, you can get 100 free daily transactions by creating an Axie Infinity Marketplace account for your wallet.
Simply head to Axie Infinity Marketplace, connect up your wallet and if this is the first time you’re logging in, you’ll need to create a name, setup an email and password and verify.
You’ll then get 100 free transactions per day that you can use within your Ronin Wallet to send, swap, approve or stake.