Access Most of Your wallets using Single Seed ShapeShif-Multichain
Background:
Hi dear fellows, I was just watching a couple of the Wallet guide videos, and there I learned about the EVM and NON-EVM wallets, as beginners we all should realize how important asset security is. I would like to share what I've learned with my fellows.
I was making a search on creating a master seed to access most of the wallets and there, this is what I've learned. By integrating the NON-EVM wallets into the meta mask using the master wallet (The wallet created First before importing others using a private key) seed we can access most of our Wallets by the single seed of that master wallet. (Note this is for just MetaMask users Trust Wallet allows the multi coin wallet by default)
Intoduction
As we know EVM (ETH Virtual Machine ) compatible networks are those networks that can directly communicate with the ETH Blockchain such as AVAX, so the wallets AVAX wallets are EVM-compatible wallets. In meta mask, we can directly Import or create the EVM compatible Wallets, but the other network wallets such as BTC, SOL, LTC, and other non-EVM network wallets can't be integrated with the meta mask. So here in this post, I will try to explain how can we integrate it in other words how we can make our 1 seed the key to access our maximum network assets.
Step 1: First of All create a new Metamask Wallet (Preferred) Now this is your Master Wallet (Key to access your funds across the EVM and NON EVM networks).
Step 2: So we are going to make it possible with the Snaps open settings and goto snaps, as there will be No snap (Because we are using a new wallet), so click on the learn more option there.
Step 3: After that, click on the Discover snaps, there will be a lot of plug-ins available for different chain integration, but here you can explore individually as well to test the other snaps, in this post, I'm getting specific with the
ShapeShift Multi-chain, because in other snaps there some Network integration criteria, using shapeshift we can enable 11 Non-EVM network integration. You can check for the Specific snap as well.
Step 4: So now click on the added snap, and there will be a notification for the third-party app, So now I want to clarify a few things there as well as it's my responsibility.
We are using a third-party plugin and Metamask is giving us the plugin integration warning because Metamask doesn't support this feature by default. Using this integration we are going to use the extra feature of NON-EVM integration. AFAIK the plug-in is safe but i can stake your funds at risk so you can authenticate it by yourself as well.
- As a few questions that might arise by using this plug-in as if this plugin gets removed, what will happen to the funds on non-evm networks? Nothing to worry about here even if the shapeshift gets removed the funds will be accessible using the seed phrase (master wallet), just import that seed onto any network you want to access funds with its compatible wallet.
- For the Plug-In integration and security, I believe for that users like me and others who don't hold many funds, there is the potentially low risk still DYOR.
Now click on the Accept. and click on Connect. Check all the terms & conditions (read if possible) and then confirm after checking the boxes of the required chain prefer selecting all chains.
Step 5: Now open the link and connect the wallet as we usually do on any DEX
Step 6: Now click on the wallet address showing in the right-most corner (Our Account) and there you'll see the option multichain is not enabled yet now enable it, click the option add snaps, fill in check boxes and a popup meta mask will get open and there you need to click the connect.
Note: as you can read what I've said before do this with the master wallet the wallet #1 we create in the Metamask and keep its seed safe as a reminder for all that will be the key to access the funds on any other network.
Step 7: Now go to the wallet on the Shapeshift app and you can see the assets there click on any asset to get its address that will be used to receive the funds.
That is for this post if there are any questions that I can answer please let me know dear ones. I tried my best to deliver efficiently if there are errors do let me know to make an edit. Remember the caution I gave above. The content is for educational purposes haha. Also there are more features you guys can explore there.
, Yes sir you are 100% on track that without shapeshift you wont be able to generate the receiving address but once the address is generated it can be use even after if shapeshift gets delisted from the snaps. But for the first time you need to be dependent on the shapeshift app.
