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Parallel Finance
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Parallel Finance
Getting Started
Parallel Wiki
Polkadot Network
Overview
Parallel Finance White Paper
Parallel x Ledger Hardware Wallet
Security
Tokenomics, PARA + HKO
Research
Developer Docs
Parallel: Product Guides
Parachain Crowdloans
Node Operations
Bug Bounty Program
Parallel Wallet
Overview
Connect Wallet Integration
Wallet Extension User Guide
Wallet Extension Whitepaper
Wallet Extension FAQ
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Wallet Extension User Guide
This guide will walk you through the process of using the wallet extension starting from installation to creating a new wallet, exporting an existing one, and explaining its other features.
How to Install Wallet
The first step toward interacting with the Parallel Wallet is to download and install the extension directly:
After successful installation of the wallet, you will see the icon at the top bar:
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In case it is not visible on the bar, click on the extension and pin it:
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Upon successful installation, the page below will open when you click Parallel wallet extension:
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How to Create a Wallet
  1. 1.
    Parallel Finance holds the security of its products with utmost importance. To get started with wallet creation, you’ll first need to create a password. The password helps to secure your wallet(s) and you’ll need it every time you want to access your wallet(s). For this, you’ll follow the following steps:
  • Enter your desired password - It must contain at least one symbol and one number
  • Confirm the password by entering it the second time
  • Check the terms and conditions box and click the confirm button to create your password
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Note:
  • Make sure to write down and store your password in a secure location
  • To protect your assets, you'll need to enter your password after 15 minutes of inactivity or exiting the wallet.
2. Next, if you’re a new user, create your first wallet by clicking Create New Wallet.
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  • After clicking the "create new wallet” button, you will be directed to the seed phrase page. Make sure you copy and back up your 12words seed phrase in a safe location as it is the key to accessing your wallet and the assets in it.
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  • Next, check the “I have backed up my secret phrase” box and click the create wallet button to access your wallet home view.
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Importing a Wallet
If you already have your secret phrase and would like to set up and use your wallet with it, follow the steps below.
  1. 1.
    Click the “Use Existing Wallet” button
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2. Next, import your existing wallet by entering your 12 or 24 words or any standard format of secret phrase and hit the “Import Wallet” button.
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3. Upon entering the correct secret phrase, your wallet will be imported immediately and you’ll be redirected to your wallet homepage.
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Users with Existing Hardware Wallet
For users with existing hardware wallets, the option to import assets from your hardware wallet will be made available soon.
  • Make sure Parallel is installed on your Ledger (see here) before you begin
  • Open up the Parallel/Polkadot/Kusama app on your ledger
  • On the wallet home page, enter the wallet selection screen on the top right
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  • Click 'Ledger' on the bottom right
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  • Select the corresponding network (same as the app opened on your ledger)
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  • Enter the name for the account and click 'Import Account'
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  • You have now successfully imported a wallet from your ledger
How to Send
Once you finished setting up your wallet, you can perform different functions like sending and receiving assets into it. If you’ll like to send some assets out of your wallet to another wallet, follow these steps:
  1. 1.
    On your wallet homepage, click the “Send” button.
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2. Next, select the asset and the network you’d like to send over.
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3. Enter the token amount that you’d like to send and the receiving wallet address, then click Review
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5. On the review page, make sure you confirm the amount and the wallet address of the receiving wallet before hitting the “Send” button.
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6. Once sent, the transaction cannot be reversed. You can now click the “Back to Home” button to return to your wallet homepage or click the “View Transaction” button to track the transaction on-Subscan.
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How to Receive
  1. 1.
    On the home page, click the clipboard icon on your chosen network, and share it with the sender
How to View your Transaction History
All your assets and the available amount and USD equivalent can be viewed on your wallet home page. To check the transaction history of any of your assets, follow these steps:
  1. 1.
    Open your wallet
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2. Select the network and token you’d like to view.
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3. View your transaction history below the send and receive button.
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How to Interact with DApps
Users can interact with dApps using Parallel Wallet extension by authorizing and signing transaction requests from them.
Authorizing DApps
  1. 1.
    To authorize dApps, you need to first open your Parallel Wallet Extension from your browser toolbar to authorize the site or dApps to connect with your wallet.
2. A request will pop-up on the right-side of your screen to confirm (authorize )or reject the dApp from connect with your wallet. Click the “Accept” button.
3. Once authorized, the dApp will connect with your wallet and you can start signing transactions.
Signing Transactions
After authorizing a dApp like the Parallel Staking dApp, you’ll need to sign transactions to execute the dApp functionality e.g. Staking.
  1. 1.
    To sign the transaction, you need to first open your Parallel Wallet Extension from your browser toolbar to review the transaction within Parallel Wallet Extension.
  2. 2.
    Since the dApp has A request page will appear showing the asset needed to execute the transaction as well as the fee. Click the “Confirm” button to proceed and the transaction will be executed. been authorized, hit the stake button (1), and a confirming transaction (2) note will pop-up at the top of your screen.
3. A request page will appear showing the asset needed to execute the transaction as well as the fee. Click the “Confirm” button to proceed and the transaction will be executed.
Wallet Settings (all function on the wallet settings page)
Parallel wallet is a comprehensive multi-asset wallet product with several functions on the settings page as shown below:
  1. 1.
    Rename
With this function, you can rename your wallet from the default name ( wallet 1) to anyone you desire.
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2. Connected Apps
Here, you can view all the dApps you’ve authorized to interact with the wallet.
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You can also remove any dApp from this page by clicking the hamburger icon
in front of the dApp and click the “Forget site” button.
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3. View Secret Phrase
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4. Support and Feedback
The support and feedback function gives you access to the support module of the wallet. This includes the wallet FAQ and glossary. You can also send your feedback and inquiry to the project team by joining the community using this function.
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5. Terms and Policy
Here you can find the terms and conditions, privacy policy and other legal information about the Parallel wallet product.
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6. Forget Wallet
Parallel wallet is a multi-wallet application and you can have different wallets in the application - each specified by different names. The forget wallet function allows you to remove any wallet from the application.
To remove a wallet, click the “Forget” button and the wallet will be immediately removed from the application. To restore the wallet, you will need to provide your secret phrase.
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Wallet Extension Whitepaper
Last modified 6d ago
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