Step-by-step instructions on how to store the GoC token in a hardware wallet
The GoCrypto (GoC) token is a multichain utility token issued on the Bitcoin Cash (SLP) blockchain, Smart Bitcoin Cash (smartBCH), and BNB Smart Chain (BSC). This article offers step-by-step instructions on how to store the GoC token in a hardware wallet.
A hardware wallet is a cryptocurrency wallet which stores the user’s private keys in a secure hardware device. These devices provide full isolation between private keys and your computer or smartphone in the event of a hacking attempt or other malicious actions.
Cryptocurrencies are never stored within the hardware wallet itself. Your hardware wallet only stores and protects your private keys, used to authorize outgoing transactions on the blockchain.
Hardware wallets give you an extra layer of protection against cyber attacks, phishing sites, and malware.
Currently, two of the most widely used hardware wallets are Ledger and Trezor. For the purpose of this tutorial, we will be using the Trezor hardware wallet, which supports all three networks on which the GoC token is issued - Bitcoin Cash (SLP), Smart Bitcoin Cash (smartBCH), and BNB Smart Chain (BSC). If you prefer to use the Ledger device, please follow the Ledger instructions.
In the case of the BSC and smartBCH network, we will connect the hardware wallet through the MetaMask wallet. For the SLP network, we will need to use the Electron Cash wallet (SLP Edition).
If you are already using a MetaMask wallet, you can skip this first part and start reading from the Pairing MetaMask with your hardware wallet.
If you do not have a MetaMask wallet set up or have not added GoC tokens to it yet, follow this simple procedure below.
Install the MetaMask extension (Visit MetaMask FAQs for all the information) and set up the smartBCH or BSC network.
Don’t forget to add some BNB to your Metamask wallet to cover the transaction fees (approx. $0.20 per transaction).
Add BNB Smart Chain into MetaMask (Visit Binance Academy for further information).
Network Name: Smart Chain
New RPC URL: https://bsc-dataseed.binance.org/
Block Explorer URL: https://bscscan.com
Add SmartBCH into MetaMask –> Click the Network icon in the upper right corner and choose “Add Network”.
A new settings window will display. Fill the text fields with the following data and click “Save”.
Network name: smartBCH
New RPC URL: https://smartbch.greyh.at
Symbol (optional): BCH
Block Explorer URL (optional): https://www.smartscan.cash/
Follow these steps to add the GoC Token contract address to MetaMask:
2. Insert GoC Token information.
GoC smartBCH contract address: 0x4b85a666dec7c959e88b97814e46113601b07e57
GoC BSC contract address: 0x4b85a666dec7c959e88b97814e46113601b07e57
Make sure you choose the right contract address, depending on the chain you wish to use (BSC or smart BCH).
Click “Next” -> “Add Tokens” and the GoC will successfully be added to MetaMask.
5. You have successfully imported an account (its public keys) to MetaMask. Repeat for other accounts if you have more than one. If you want to see the whole address of this account navigate to account details in the top right. First one is the MetaMask default account, the second one is the hardware wallet account with the passphrase.
Go to ElectronCash.org and download Electron Cash (SLP Edition) for your operating system.
Please note that you will need to deposit some BCH to your wallet in order to cover the fees for any future transactions.
Your addresses are now generated and your account balances should be shown in the History tab. You can now manage your GoC on SLP from your hardware wallet.
The total supply of the GoC token is 299,095,759 GoC and will never exceed this amount, no matter how many blockchains the GoC token supports. We are not minting and burning tokens in real time; instead, we have duplicated supplies on every supported chain that is illiquid and held on reserve addresses. A certain amount of tokens can only become liquid when the same GoC amount from another chain gets locked on one of the reserve addresses through the GoC Bridge App.
If you are holding the GoC token on Elly Wallet, please note that the GoC token will be automatically migrated from SLP to BNB Smart Chain (BSC) on December 6th, 2022. Elly Wallet users don’t need to take any actions. However, the GoC Bridge will still support SLP migrations, which means users will be able to continue migrating the GoC token from and to SLP.
Step-by-step tutorial on how to migrate the GoC token through the GoC Bridge app is available in our blog How to use GoC bridge.
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