The SolFlare Wallet is a software wallet used to store SOL coins and tokens on the Solana blockchain. Solana Labs have developed it, and it’s available for download from their website. In this article, we’ll review what the wallet offers and whether or not it might be worth your time.The SolFlare crypto wallet is intended for the Solana blockchain and supports SOL coins and SPL tokens.
As of September 2021, it’s only compatible with the Ledger Nano hardware wallets (you can use SolFlare as a hot wallet). There are two versions at the moment: a browser plugin and a web app. A mobile app is in development (according to their website). The FAQ provides extensive information about how to utilize your SolFlare wallet on the web app.Arriving on the homepage, I can choose to make a new wallet or access an existing one.When I create a wallet on the SolFlare website, I have to supply a password. After that, I’m provided with a list of seed phrases to record or copy to my clipboard. Since I intend to create a new, f
resh wallet (I want to use it with my Ledger Nano X), I return to the homepage and click “Access Wallet” instead.Three options appear to me: enter the mnemonic phrase, Ledger, or import a keystore file (a deprecated feature; SolFlare converts keystore files to seed phrases).I choose to use Ledger since I want to use my existing hardware wallet. However, to even install the Solana app on my Ledger, I needed to perform a 10-minute firmware update of my hardware wallet (if you don’t see Solana as an installable app via the Ledger Live app, a required firmware update could be the reason). After connecting my wallet, the web interface asks me to choose a “derivative path.” I select the first wallet ID (Solana refers to a public address as a wallet ID). I provide a password again to protect the assets in this wallet.My first transaction will be to receive money. I select the “Receive”
button at the top of the wallet dashboard. A pop-up appears with a QR code and a link to copy the address to the clipboard. I choose the latter option. There was no wallet verification to ensure that the generated wallet ID was correct. Still, it probably wasn’t necessary (I’ve validated public addresses using hardware wallets when receiving funds).Although I didn’t start a transaction, I double-checked the Solana documentation and confirmed that all transactions must be signed by a hardware wallet or by providing a password. You could utilize the Ledger Nano X if you connected your hardware wallet.
If you made a hot wallet at setup, you might use the private key you generated and your password to sign transactions. When logging in/out, I didn’t have to re-enter my wallet ID password. I skipped the password screen (this occurred with a Ledger Nano X, but it might be different if it’s a keystore/private key file).When creating a new wallet, I could skip the password entry, and I’m not sure why it’s necessary for the SolFlare wallet. Even without a password, I could access the wallet interface (mnemonic and Ledger Nano connection). It seems that a password is only required for signing transactions, not to keep people out of the account.