In today’s guide, we will tell you how to stake Solana (SOL) tokens in the Sollet web wallet.
Sollet — Solana SPL token wallet
Sollet.io is a non-custodial browser-based web wallet created by the Project Serum (DEX) team.
Note: Being a client side browser wallet the wallet keys are stored in your local storage which can be encrypted using a password.
When you create a new wallet you’ll be provided with a 24 word mnemonic seed. It is very important that you backup this information safely. You’ll lose your coins from your wallet if you lose the seed word.
- Go to https://www.sollet.io by default it will create a new wallet for you. Make sure to save the 24 word seed phrase in a safe place and click continue.
- You can save them on password managers like Keepass.
- On step 2 encrypt your wallet seed using a password. Normally you can close the wallet and access sollet.io wallet back by just entering the password.
4. Create an passwords
If you forget your password you will need to restore your wallet using your seed words. Also if you clear browser cache then you cannot login using password. You need to restore wallet again using seed word.
Once password has been chosen click create wallet and the wallet will generate a new SOL (Solana) address for you.
As you can see the wallet is clear and simple and it needs no explanation at all.
Drop down SOL account and copy the deposit address.
Adding SPL Tokens to Solana wallet
Similar to GAS fees on Ethereum to add SPL tokens on Sollet wallet you need to spend some SOL. You can buy SOL from Binance or FTX. Buy SOL and send it to your Sollet wallet SOL deposit address.
Do not worry about the fees as they are negligible.
If you do not have enough SOL in your wallet then you’ll not be able to add any tokens. You’ll get the following error.
Once you’ve deposited SOL here is how you can add SPL tokens.
- Click the plus icon on your Sollet wallet to add tokens.
- A popup screen will open which will contain three options: Popular Tokens, ERC20 Tokens and Manual input.
On popular tokens section you’ll find the most used tokens on the Solana ecosystem.
Some examples are Serum (SRM), MegaSerum (MSRM), Bonfida (FIDA), LQID, KIN, MAPS, RAMP, Raydium (RAY) and Oxygen Protocol (OXY).
Other than projects build on Solana ecosystem you’ll also find wrapped tokens such as wrapped Bitcoin, wrapped Ethereum, XRP, FTT, YFI, LINK, USDT etc.
Adding ERC20 tokens
Other than SPL tokens you can also add any ERC 20 tokens to your Sollet wallet. These are basically pegged tokens.
If you can’t find your wrapped ERC20 tokens in popular tokens tab then you can manually add it by entering the ERC20 contract address.
Go to https://etherscan.io/. Search for the token, copy the contract address and enter it in your Solana wallet and click add.
This is similar to adding custom tokens to MetaMask. To manually add custom SPL (Solana based) tokens to your Solana wallet you first need to fetch the contract address or in Solana its called token mint address.
You can find the token mint address on Solana explorer as well as from Coinmarketcap.
Search for the token name on Solana explorer and copy the token mint address. Enter the token mint address in manual input section. Then enter token name and symbol (Ticker) and click add.
Tokens will be added instantly to your wallet. Also added tokens will not disappear even if the token balance is zero.
Export keys / mnemonic
In case if you’ve failed to copy the mnemonic backup phrase during the initial wallet setup or if you are not sure if you got the right one you can always export it later.
Click account menu from the top right corner and click export mnemonic. Enter password to reveal the mnemonic.
Deleting mnemonic will delete it from your local storage. Once deleted the wallet can only be accessed back by restoring the seed phrase.
Ensure that you have the seed phrase and the private key for all current accounts before you delete mnemonic or clearing browser cache.
Okay. That's all.