WTF is a Solana Wallet

Setting up a Solana Wallet

So you want to get your hands on the Generic Bar Bot but you are not up to speed on crypto wallets. Well here is some info to help get you started...

A Solana wallet is a program that helps you buy, sell, and store cryptocurrency and NFTs on the Solana blockchain. Think of it as a bank account on the blockchain, you can send and receive items from it, as well as store your items in it. But you want to keep it locked and safe. Perhaps more like a digital safety deposit box.

The two types of crypto wallets are custodial (“hosted”) and non-custodial wallets. Custodial wallets are managed by a third party, whereas non-custodial wallets are not. Custodial wallets are like keeping your valuables in a bank's safety deposit box and non-custodial wallets are like keeping them in your home safe. Custodial wallets therefore require less responsibility, but are at the mercy of other parties like, if the bank was burglarized. Non-custodial wallets give you full control, but also mean you have to be extra careful, like, not losing or sharing your key phrase and password!

For Solana we recommend Phantom, a non custodial wallet. Here’s a video to help you set one up.

If you would like a step by step written tutorial, you can follow the tutorial we've prepared here.

Phantom Wallet Step by Step

To get access to the Generic Bot you will need to have a small amount of Sol in your wallet to be able to execute the transaction. Average transactions are usually less than .00001 Sol. If you have an account at an exchange like Coinbase or Binance you can purchase and send the Sol to yourself. You can also purchase Sol directly in the Phantom wallet using MoonPay and connecting it to a credit card or bank account, however there is currently a $50 minimum amount you will need to purchase.

Once you have a wallet setup and a tiny amount of Sol in it go back to www.barbots.io and get your own Generic Bot! Or just click here: https://tinyurl.com/barbotgeneric

If all this crypto stuff is a stumbling block and you really want to get your hands on the Generic rig, send us an email at [e-mail] and we'll help you get set up!