The Arkane Network wallet is a cryptocurrency wallet that works with multiple blockchains and collectibles. If you’re tired of not being able to see your collectibles in Metamask, Arkane might be exactly what you need.
This article will explore the benefits and disadvantages of using Arkane wallet. It will also explain how to set up Arkane and import existing crypto-wallets into its interface.
Metamask and Enjin vs. Arkane
Advantages of traditional wallets
Most blockchain gamers store their collectibles in either a Metamask or Enjin wallet.
These wallets are extremely secure. By default, they store the user’s private key on the device, away from the prying eyes of most hackers.
If a user is extremely concerned about security, he can even combine Metamask with a hardware wallet such as Trezor or Ledger. This will take the key off the device entirely and make it nearly impossible for a hacker to steal the user’s funds without stealing his hardware wallet.
But these advantages in security come with disadvantages in convenience and ease of use. Metamask shows only cryptocurrencies and ERC-20 tokens in its interface. Axies, 0x Universe planets, Cryptokitties, and other gaming collectibles do not show up at all.
This means that a user must look up his collectibles on a blockchain explorer to even know what he has in his collection.
Enjin wallet does show collectibles. But it is only available for mobile devices. This may create problems associated with touchscreen devices, including frequent mistyping of search terms or passwords.
In addition, some users own assets from blockchains other than Ethereum. A player of Etheremon may want to use his wallet to keep track of his Mons, but may want to keep track of his Nachomen and CryptoGladiators from the NEO blockchain as well.
He can’t do this using Metamask or Enjin wallets, so he must use two separate pieces of software.
Both Metamask and Enjin also require the user to write down and store a series of “seed words.” If the user loses these seed words and his device crashes, he loses access to his wallet and all of his collectibles.
Most veterans of the crypto space are used to this process. We generally know that we are responsible for the security of our assets. If we lose our seed words, there is no “forgot my password” feature.
And many of us prefer to keep our private keys in our own possession anyway, so as to make sure that no third parties have control over them.
But for a beginner, this requirement to “be your own security” may seem intimidating. And even a person who has been using cryptocurrency for a long time may not always like it.
For example, a user who has a small account with only a few collectibles may feel that he would rather just use a username, password, and pin code to get into his crypto-account, instead of bothering with the hassle of trying to store seed words.
This is where Arkane wallet comes in.
Benefits of Arkane
Arkane wallet software allows a user to view cryptocurrency, tokens, and collectibles from across several different blockchains; including Bitcoin, Ethereum, Vechain, Litecoin, Gochain, Tron, Aeternity, and NEO.
It has a desktop interface that also works on mobile. So all a user needs is a PC and web-browser to take advantage of Arkane. The user doesn’t even need to put in a phone number for two-factor authentication, since it uses a pin code for security.
And Arkane doesn’t require the user to store his own private key or seed words.
These are the advantages of using Arkane.
Desktop and mobile wallets are still more secure
Despite these advantages, desktop and mobile wallets are still more secure than Arkane – at least for users than aren’t worried about physical theft of their seed words.
For this reason, users that have extremely valuable collections may want to stick with traditional wallets.
But for users that are beginners or that have small collections, Arkane may be secure enough.
Arkane security features
Arkane encrypts the user’s private key with a keystore and password using AES 128-bit encryption. This password is then split into three parts using Shamir’s Secret Sharing algorithm. The user’s part is then encrypted again using the pin code.
All three parts are stored in a vault and encrypted a second or third time. Access control policies are used to restrict employee access to parts of the password.
As with any cloud wallet, a hacker can still get access to a user’s funds if he obtains the user’s email, login password, and pin. But at least Arkane provides some of the best security possible for the user’s cloud-stored private key.
How to set up Arkane
If you would like to set up an Arkane wallet to keep track of your collectibles, here is how to get started.
Navigate to the official Arkane Network website.
In the lower-left, push the sign up button.
At the bottom, click create account.
Put in your name, email address, and a strong password.
Click create account.
Accept the terms and conditions.
Choose a master pin. This number needs to be between 4 and 6 digits. Make sure it’s something you’ll remember.
Choose the blockchain for the first wallet you want to create.
Choose create new wallet.
That’s all there is to creating a new wallet in Arkane. You are now ready to start collecting cryptocurrency, tokens, and digital collectibles.
If you already have collectibles in a Metamask or Enjin wallet, you may want to send them to your new Arkane wallet. Or you may want to import the entire account into Arkane using instructions from the following two sections.
Importing an Enjin wallet to Arkane
Enjin wallet doesn’t offer the ability for a user to view his private key. And Ethereum and Enjin accounts can’t be imported into Arkane without this information.
So if you want to view your Enjin wallet collectibles in Arkane, you’ll need to first import your Enjin wallet into Metamask, then use Metamask to get a copy of your private key. Once you’ve got the private key, you can enter it into Arkane to finish the importing process.
Here is how to import an Enjin wallet into Arkane:
First, if you haven’t already done so, install Metamask by following the instructions from this video:
Open Metamask, and click import using account seed phrase.
Enter your Enjin wallet seed words, and click continue
Your Enjin wallet account should now display in Metamask. Follow the instructions in the next section to finish the process by exporting from Metamask to Arkane.
Importing a Metamask wallet to Arkane
If you already have a crypto-collection in a Metamask wallet, here is how to import it into Arkane.
If you are moving an account from Enjin to Arkane and have already moved it into Metamask, these instructions can also be followed to complete the process begun in the previous section.
From the Metamask main menu, click the three horizontal bars in the upper-left corner.
Select export private key.
When your private key appears, click to copy it to the clipboard.
Now login to app.arkane.network/.
Click import wallet.
Choose private key.
Paste the contents of your clipboard into the private key field, then press import Ethereum wallet.
If you followed these steps correctly, you should now see your Ethereum balance from Metamask or Enjin in Arkane.
Managing collectibles using Arkane
Whether you create a new wallet or import one from other software, keeping track of your collectibles using Arkane is simple.
In the upper-left of the screen, click the name of the blockchain for the particular collectibles you want to view. For example, click Ethereum if you want to view Gods Unchained cards, Axies, and other Ethereum-backed collectibles (including ones minted using Enjin Coin).
You’ll see a list of accounts or addresses on the left side of the screen. Arkane will give these accounts weird animal-names like “Fascinating Meerkat” and “Noble Trout.”
Click the particular address your collectibles are stored in.
This account’s information will display, including the balance and a list of transactions. Click the unicorn icon near the middle of the screen to see your collectibles.
If you want to transfer a collectible to a different wallet, first click the collectible. This will display its information page.
In the lower-left corner, click transfer.
Enter the recipient address, then click transfer again. A popup window will appear asking for your pin number. After you enter your pin, the transaction will be sent to the blockchain for confirmation.
That’s all there is to viewing or transferring collectibles using Arkane.
You can transfer NFTs not only to a blockchain address, but also to an email address.
This article has explored the benefits and disadvantages of using Arkane Network wallet. We’ve gone over the features of traditional wallets like Metamask and Enjin, as well as what makes Arkane different.
In addition, we’ve explained how to create an Arkane wallet, import a wallet from Metamask or Enjin, view collectibles, and transfer collectibles to other wallets using Arkane.
Will you be using Arkane wallet? What do you think of the idea of a desktop wallet for digital collectibles? Let us know in the comments below.