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Getting Started with Prax
This guide walks users through how to get Prax Wallet installed on your local devices. Prax was designed to make accessing your accounts on Penumbra easier.
On most blockchain networks, even private ones, the risk of information being centrally controlled puts users in danger. With public blockchains, this is made worse by the fact that all transaction history for an account can be examined by anyone who wants to. It then becomes possible to track a network’s transactions back to individual users to monitor their activity. Sure, you get financial autonomy, but does it have to come at the cost of your privacy?
Prax eliminates this compromise. By running encryption software for using Penumbra directly in your browser, Prax creates a relationship between the Penumbra network and your data that only you control, meaning that your privacy starts and ends at your device.
Since your data can only be accessed using your keys and is encrypted locally on your device, your transactions remain private to everyone but your recipients, and your recipients can only see what you want them to.
This is what makes Prax different - it's not just a wallet. Prax is a gateway to what crypto should have been: private digital finance. Every feature of the wallet is designed to push privacy guarantees to the edges of the network so there is no central control of information, ensuring that you are in control of your financial privacy. Your balances and your transaction history are all only accessible using your personal keys.
This is what using a blockchain is supposed to look like.
Before installing Prax, ensure your environment is ready for a secure setup. You'll need a private space and about 10 minutes to complete the process properly. This isn't just about installing software - it's about setting up your gateway to private finance.
Essential requirements:
Installing Prax is straightforward, but attention to detail matters. Start by navigating to the Chrome Web Store through praxwallet.com
When installing:
After installation, you'll see the Prax icon appear in your toolbar.
First-Time Setup
The wallet creation process establishes an area for you to access your personal accounts on Penumbra. This isn't just about creating an account - but with billions of sub-accounts available to you as soon as you create your wallet, it's about establishing your sovereign financial identity.
Setup steps:
Your access password serves as the key to your local wallet data on Prax. Make it strong, and be sure to use a password manager to store securely - you'll need it every time you open Prax. Use a password manager to store your password securely.
Note: Keep in mind that your recovery Seed Phrase and the password to Prax are two different things: your password is what you use to access Prax in your browser and will likely vary from device to device when you set it up but is not what you use to set up the wallet for the first time. It is unique to the specific browser instance you are using to log into Prax, meaning that you may have multiple passwords across devices to access the same account information. This is normal and good.
Your recovery phrase grants full access to your funds. Unlike your access password, which protects your local wallet, your recovery phrase can restore your wallet anywhere. This makes it both powerful and sensitive. Never share your recovery passphrase with anyone.
! Do not share this with anyone: Your Recovery Phrase is a 12 or 24-word phrase tied to the accounts you control on Penumbra, meaning that this is the phrase you will use to access your accounts on all devices, but you will only need to add it once per instance. This is information you will want to keep safe and offline by either writing it down or backing it up somewhere secure, since if anyone has access to this phrase, they can gain access to all of your accounts. !
Back up passphrase safely:
Never share your recovery passphrase with anyone. Again, your recovery phrase grants full access to your funds.
When you first open your wallet, Prax begins synchronising with Penumbra. This process establishes your private connection to the network and prepares your local environment. This may take a few minutes, but it will only need to happen one time as your local browser wallet catches up to the chain.
What to expect:
During synchronisation:
Again: you will only need to sync once - if there is an issue with your sync, you can head to Settings>RPC and select a different provider, or ask for help in the discord. If you seek help in the discord, verify that the person you are speaking with is a support moderator, by asking in a public channel before the ticketing process takes place.
Before proceeding to use Prax, confirm your setup is complete and secure:
With verification complete, start using Prax:
Your wallet is now ready for:
Congratulations! Your Prax wallet is now set up and ready for private finance.
Need help along the way? Reach out via the following channels to get assistance:
Welcome to truly private finance.
