How to create Xelis (XEL) wallet

20/05/2024

Xelis (XEL) is an innovative cryptocurrency built from scratch to preserve privacy and developed in Rust for guaranteed memory security.

Xelis (XEL) can be exchanged on TradeOgre.

We will discuss two methods for creating a Xelis coin wallet:

Exchange.
Crypto wallet at your PC — CLI wallet.

We do not recommend mining to exchange. If you choose mining to an exchange, you do so at your own risk. Not your keys — not your crypto!

Notes:

The Xelis (XEL) coin has one abnormality — your wallet address may change over time. In such a way, the coin increases the protection and anonymity of wallets — do not worry about it. Even if your wallet address has changed, you can continue mining or receive payments to your first address, which you received immediately after registration. The coins will also go to your wallet, and you will see them in wallet transactions.
Can I change it? Unfortunately, or fortunately — no. We need to accept this feature and the fact that the addresses in the wallet will change.
We recommend keeping the primary wallet address safe to avoid confusion. Use the first address for mining and use the refreshed address for daily transactions. Do not change the address in the miner, as the accrual on the pool will start over again!

How to Register a XEL Wallet on the Exchange

This method is convenient because you don’t need to register multiple wallets. Everything is stored on one exchange, and all coins and wallets are easily accessible. You can immediately exchange or trade your cryptocurrency without any hassle.

Some cons: The security of all your exchange wallets depends on the security of your exchange account. To ensure the utmost security, make sure to secure your email, exchange account, and enable two-factor authentication (2FA).

Keep in mind that sometimes exchanges change the address for depositing cryptocurrencies. The pool will not be able to change the address to which you are mining, so some of the cryptocurrency may be lost.

Register at any exchange that provides the option to trade Xelis (TradeOgre is used in the example);
After signing up, click on the profile icon → "Deposit";
Enter "XEL" in the search bar, find the coin "XEL" and click on the icon “XEL Xelis”;
Done! You have got the wallet address for deposits to the exchange. Start by clicking on the icon next to the wallet address to copy it. You can then use it to mine or receive coins to your wallet.

How to Сreate a Xelis (XEL) wallet on Your Computer

This method is convenient for professionals who prefer to control their keys and wallets, and store the wallet on their PC.

Some cons: The security of your wallet relies on the security of your computer and the safety of your keys. It is important to ensure that your PC is secure.

Managing a wallet on a PC requires care and precision, and accidental mistakes can have serious consequences. It is not recommended for inexperienced users or novice miners.

Step 1 — Installation

Download the Xelis wallet: https://github.com/xelis-project/xelis-blockchain/releases
Unpack the downloaded archive. For Windows, choose the x86_64-pc-windows-gnu.zip version.
Run the xelis_daemon.exe file to synchronize with the Xelis blockchain, and leave it running.
- For faster synchronization, start the process via the CMD command line with xelis_daemon --allow-fast-sync.
Wait for synchronization to finish. Do not close this window, and proceed to creating a wallet.

Step 2 — Create a Wallet

Without closing the xelis_daemon synchronization window, run the xelis_wallet.exe file. Enter the create command and press Enter.
You will be prompted to enter a name for your wallet. For example, type Kryptex and press Enter.
You will be asked to enter a password for your wallet. Enter a password, remember it, and write it down. Press Enter.
Confirm your password by entering it again and pressing Enter.
The wallet creation process will begin. This will take 10-15 minutes. Do not close the xelis_daemon and xelis_wallet windows.
When the process is complete, you will see a seed phrase—this is your secret set of words to recover your wallet. Store it securely. Write down the words in the exact order provided. Whoever has this seed phrase can access your wallet! Press Enter when finished.
If everything went well, you will see the message “Wallet successfully created.” The TopoHeight value will match the value in xelis_daemon, and the wallet status will be online. You will also see a list of commands for managing your wallet. Type display_address and press Enter.
You will receive a wallet address starting with xel:. Use this address for mining or other transactions. Write it down and save it, as addresses may change to maintain security and confidentiality.