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How to create a SPL token wallet

Solana is a brand new blockchain with a completely different mechanism from blockchains we have seen before. Before you create a SPL token wallet of Solana Blockchain, let's learn about its mechanism.

Solana's wallet mechanism

Solana blockchain generates 2 types of wallets including SOL wallet and SPL token wallet.

- SOL wallet is the parent wallet that is created free of charge like other wallets on Coin98 Wallet.

- SPL tokens, such as Serum (SRM), which is a sub-wallet of the SOL parent wallet, need a small fee to update the contract when creating.

How to create a SPL token wallet

Let's take an example with Serum, one of the first and the most famous token issued on Solana Blockchain as SPL token.

Step 1: Create a SOL wallet. For those who are new to Coin98 Mobile Wallet, please learn how to create a wallet HERE.

Step 2: Deposit SOL (minimum 0.0025 SOL for a wallet) to be used as fee for creating new SRM SPL wallet. If you are new to Coin98 Mobile Wallet, please learn How to send & receive coins/tokens on Coin98 Mobile Wallet

Step 3: Create Serum (SRM) SPL Wallet;

Step 3.1: Select Receive on the home screen;

Step 3.2: Search for SRM and Select the "+" icon next to SRM;

Step 3.3: Click Create to confirm creating SRM SPL wallet;

Step 3.4: Wait a moment for the contract to be updated, then you will see a SRM SPL wallet appear on the home screen.

Note:

  • There are 2 types of SRM token: SRM ERC-20 and SRM SPL. In this article, we take SRM SPL wallet as an example. Please make sure you always get the correct address for deposit or send SRM token.

  • Each SOL wallet will be able to contain one SRM SPL wallet on Coin98 Wallet;

  • The SPL Token wallets will be attached to the SOL wallet containing it. If you restore or delete your SOL wallet, your SPL Token wallet will also be restored or deleted.