URGENT: HOW TO CREATE A NEW ANCHOR WALLET (GREYMASS ACCOUNT)-TO SECURE YOUR XPR TOKENS (+OWNER CERT)
Summary
TLDRThis video provides an urgent update regarding the Anchor wallet situation for securing Proton (XPR) tokens. The previous method of anchoring a web or wallet is deemed insufficient. Instead, users must create a new paid Anchor wallet account to be the true sovereign owner with a deed certificate. The video meticulously guides viewers through the process of downloading the Anchor wallet, creating a new Proton account with a unique '.GM' address, backing it up with an owner certificate, and transferring tokens from the web or wallet to the new Anchor wallet. Emphasizing the importance of ownership and security, the video aims to help users safeguard their digital assets amidst potential blockchain forks or attacks.
Takeaways
- 🔑 The anchor wallet provides better security than just linking/importing your web or wallet, as it separates the owner key from the active key.
- 💰 To create a new proton account on the Anchor wallet, you need to pay a small fee (e.g., 99 cents).
- 🖨️ The Anchor wallet generates an owner certificate (similar to a deed) that proves your ownership of the account.
- ✍️ You need to write down an encryption key provided during the account setup process to secure your account.
- 💼 It's advisable to move your XPR tokens and other assets from your web or wallet to the newly created Anchor wallet account.
- 🔍 The Anchor wallet may not display the value of your tokens, but you can verify your holdings on the XPR Explorer.
- 🌐 UniCov is the web wallet interface that integrates with the Anchor wallet for sending, receiving, and signing transactions.
- 🔄 The previous method of just linking/importing your web or wallet keys is insufficient for securing your assets.
- 📢 The video emphasizes the importance of sharing this information to ensure others properly secure their accounts.
- 🕵️ The research by Twitter user EX ARB brought attention to the security issues with just linking web or wallets.
Q & A
What is the main purpose of this video?
-The main purpose of this video is to provide an urgent update on how to properly secure XPR tokens by creating a brand new Anchor wallet account, as simply anchoring a web or wallet is not sufficient.
Why is it not enough to just anchor a web or wallet?
-According to the video, anchoring a web or wallet by importing private keys is not enough because with a web or account, the active and owner keys are fused together, making it less secure. With an Anchor wallet, the active and owner keys are separate, providing more security.
What is the difference between a web or account and an Anchor wallet account?
-With a web or account, the user is not the complete owner, as the active and owner keys are fused. With an Anchor wallet account, the user is the complete sovereign owner with an owner certificate, separating the active and owner keys.
Why does creating a new Anchor wallet account cost money?
-The video suggests that the pay wall for creating a new Anchor wallet account is something to prevent people from "stumbling into it," implying there may be a reason for this cost beyond just a fee.
What is the process of creating a new Anchor wallet account?
-The process involves downloading the Anchor wallet app, creating a new account (choosing Proton and paying the fee), creating a backup and printing the owner certificate with the account name and encryption key, and then moving funds from the old wallet to the new Anchor wallet account.
What is the significance of the owner certificate?
-The owner certificate is a unique function of Anchor wallet that serves as the deed to the account, proving the user's complete ownership. It includes the account name, network, and a 28-word seed phrase, plus an encryption key.
Why doesn't the Anchor wallet show the value of tokens sent to it?
-The video suggests that the Anchor wallet may not show the value of tokens sent to it to avoid substantiating that those tokens are compatible on that blockchain. The actual balance can be checked on the XPR Explorer.
What is the role of UniCov in the Anchor wallet ecosystem?
-UniCov is the natural extension of the Anchor wallet, serving as the user interface web wallet version, where users can send, receive, and sign transactions directly from their Anchor wallet account.
Why does the video emphasize creating a new Anchor wallet account over anchoring a web or wallet?
-The video emphasizes creating a new Anchor wallet account because it provides complete ownership and separates the active and owner keys, which is a more secure method compared to anchoring a web or wallet.
What is the overall message or conclusion of the video?
-The overall message is that to properly secure XPR tokens, it is strongly advisable to create a brand new Proton account on an Anchor wallet instead of simply anchoring a web or wallet, as the latter method is insufficient for complete security and ownership.
Outlines
🚨 Urgent Update on Anchor Wallet for XPR Security
This segment outlines an urgent update for users of the Anchor Wallet, emphasizing the necessity of creating a new, paid Anchor Wallet account to secure Proton (XPR) tokens effectively. Crypto Rick, the host, introduces the topic by acknowledging a Twitter account, EXARB, for its research revealing that merely anchoring a Web or wallet is insufficient for securing tokens against forks or ensuring ownership on the correct blockchain. The segment elaborates on the technical inadequacies of Web or wallets, particularly their fused active and owner keys, making them vulnerable to attacks. It contrasts this with the Anchor Wallet's separate owner and active keys, offering superior security. The importance of creating a new Anchor Wallet Proton account is stressed, highlighting the process and its benefits over simply importing keys from a Web or wallet.
🔐 Creating a New Anchor Wallet: Step-by-Step Guide
This paragraph serves as a comprehensive guide to creating a new Anchor Wallet for Proton tokens, underlining the difference in ownership between imported Web or wallets and newly created Anchor wallets. It highlights an urgent update from the host, pointing out the security flaws of merely importing a Web or account into Anchor. The process involves a payment step, indicating a shift from free Web or accounts to a paid new Anchor account setup. The tutorial walks through the app download, account creation, payment, and account activation processes. It also introduces the concept of 'GM' naming for wallet addresses within the Anchor ecosystem, emphasizing the importance of being the sovereign owner of one's Proton account.
🖨️ Securing Your Anchor Wallet with an Owner Certificate
The focus of this paragraph is on securing the newly created Anchor Wallet with an owner certificate, a unique feature that differentiates Anchor from other wallets. It explains the process of printing this certificate, likening it to a deed, which proves ownership of the account. The segment critiques the reliance on simple seed phrases for account recovery, advocating for a more secure and professional approach with printed certificates and additional encryption keys. The narrative also addresses common confusions, such as the correct blockchain for Proton accounts and the visibility of token values in the new wallet. It concludes by advising users on transferring assets to the newly secured account and introduces Unicov as an extension of Anchor Wallet, facilitating the management of assets.
🌐 Transitioning to a New Proton GM Account for Enhanced Security
This segment concludes the tutorial by urging viewers to create a new Proton GM account for enhanced security, marking a departure from the previous advice of simply linking Web or wallets. It acknowledges the contribution of the researcher EXARB in bringing this vital security information to light. The host, Crypto Rick, calls for the community to share this video and spread awareness about the correct method of securing Proton tokens. The segment wraps up with a message of vigilance and the importance of securing digital assets, urging viewers to actively participate in their financial security by creating a new, secure Proton account.
Mindmap
Keywords
💡Anchor wallet
💡Proton blockchain
💡Private keys
💡Owner key
💡Paid account
💡Owner certificate
💡Webo wallet
💡Encryption key
💡GM account
💡XPR Explorer
Highlights
It is not sufficient to just anchor your web or wallet; you actually have to create a new anchor wallet altogether, which is a paid account, to secure your XPR tokens.
Anchoring your web or private keys is not enough because your active and owner keys are fused in web or, making you vulnerable to attacks and without recourse for recovery.
With an anchor wallet, the owner key is separate from the active key, providing an additional layer of security.
There is a paywall to create a new anchor wallet, whereas web or is free, suggesting a deliberate measure to prevent easy access.
To create a new anchor wallet, you need to download the anchor wallet app, create a new account for proton (with a fee), and print out an owner certificate, which serves as the deed to your account.
The owner certificate includes your account name ending in .gm, the network (proton), a 28-word seed phrase, and an encryption key that you need to write down.
After creating the new anchor wallet, it is recommended to transfer all your XPR tokens and other proton-based assets from your web or wallet to the newly created anchor wallet.
The anchor wallet may not show the value of your transferred tokens, but you can verify the balances on the XPR Explorer.
UniCov is the web wallet extension of the anchor wallet, where you can send, receive, and sign transactions connected to your anchor wallet.
The video replaces the previous method of linking a web or wallet, as that approach is now considered insufficient for securing your proton assets.
The research and findings were credited to the Twitter account '@EX_ARB', who brought attention to the necessity of creating a new anchor wallet.
The difference between having a web or account and an anchor wallet lies in the ownership and separation of keys, with anchor providing a distinct 'owner certificate'.
Gry Mass, the creators of the anchor wallet, have their own version of proton, which differs from the regular XPR network.
The anchor wallet uses an encrypted system, which may explain why token balances are not displayed but can be verified on the XPR Explorer.
The video aims to spread awareness and encourage others to create a new anchor wallet to secure their proton assets properly.
Transcripts
this is an urgent update regarding the
anchor wallet
situation apparently it is not
sufficient to just anchor your web or
wallet you actually have to create a new
anchor wallet Al together and it's a
paid account to secure the your XPR so
if you're new to the channel welcome to
crypto current I'm your host crypto Rick
and today we're going to show you how to
actually create a brand new ankle wallet
from scratch and fully secure your uh
proton uh
tokens uh so without further Ado let's
just get straight into
it so a change of
plans so firstly we want to give some uh
recognition and thanks to uh a Twitter
account called EX
ARB um so Mr eggs ARB uh did some really
good research and found out through
various um releases from gyas who are
the creators of anchor wallet that
anchoring your web or private Keys is
not sufficient by itself to prevent a
fork or secure the Phoenix even without
a
fork uh you're still on the wrong
blockchain and you have you still have
not secured your
wallet instead you need to create a
completely brand new proton account on
anchor so we will explore this detail so
the previous video you can still anchor
your wallet with your web or but this
shows you how to create a new one and
then you can transfer the funds out of
web or into this uh new newly minted
anchor proton
account
so
firstly how come anchoring your wallet
like importing the private Keys isn't
enough according to gry mass developers
the people who developed the anchor
wallet it says that apparently web or
works on a different thing so basically
your active and owner keys are fused
they're the same you are entirely
vulnerable to an attack described above
and you have zero recourse available to
you some web or based wallets do not
offer a form of custodianship of your
account providing you with a backup or
method of recovery in case of a lost
phone so basically what he's saying here
is
that um if you have web or your owner
key and your account key is basically
one key and it's
fused um so this can cause problems uh
because you're not actually um owning
the
account um
and the keys are basically not as secure
as an as an anchor wallet and the anchor
keys because the in the anchor wallet
you have uh the the the the owner key is
not the same as the active key so if
anyone were to compromise your active
key you could still if you own the owner
key you could still um switch
off uh the active key so there's more
descriptions here okay if you want to
have a
read so this demonstrates the difference
between having a web or and having a
anchor wallet so with the uh anchor
wallet sorry with the Proto uh the webo
uh wallet you basically here it says
active so it doesn't actually say owner
like it's supposed to with an anchor
wallet you are the owner with a webo
account
even if it's anchored it's you're not
the owner so what you want to do is you
want to be the
complete Sovereign owner and lordship of
your proton account not just have active
rights so that's one thing that Mr EG
ARB uh had
realized the second thing that he
realized was
that when he checked out proton he found
that grey Mass had their own version of
proton which he thought was quite
bizarre you know why does this have a
different domain name than the regular
XPR network type thing so he's there's
possible postulation by Mr um xari
that the uh just as a lot of us had
suspected that the Phoenix is actually a
completely different thing on anchor
than it is on
webo
this is a a post uh by another account
that basically shows that the ownership
related to weboth is not the same as an
ownership with uh
ankor now I'm not a technical person I
can't tell you exactly the
difference but suffice to say having a
web or
account and then linking that to Anor is
not the same
as having a brand new fresh anchor
wallet um with the brand new fresh
anchor wallet you are the complete owner
with the web or you're just um importing
it into anchor but you're not the owner
so that's why this is an urgent update
to my previous
video so the other thing that was a bit
bizarre was that with if you want to
create a new uh wallet it's actually you
have to pay so there's actually a pay
wall so why is there a pay wall there
whilst web or is free you know it
doesn't add up it's almost as though
it's something to prevent people from
possibly um stumbling into
it um we have uh the 99 Cents which is
the 66 inverted so there's definitely
something going on here um so when you
just import the your private Keys I.E
anchoring your web or wallet that's free
but to buy a new account to make a new
anchor wallet you actually have to pay
and so in this tutorial we're going to
show you how to make
it so it is strongly advisable to create
a brand new proton account on an Eno
wallet as opposed to anchoring your webw
or wallet and just importing the private
keys in so for this you'll have to pay
money
okay nothing good in life is free you
know you got to this is the way to to
go so how to do it the first step is you
download free download the anchor wallet
on Android or App Store so this is the
wallet anchor
wallet once you open it up you're going
to have something like this and you're
going to click on accounts so you want
to try and create a new account other
versions have set up new account or
setup account but eventually you get to
accounts so you click obviously create
new account and you choose the proton
okay it should have a price next to it
like 99 Cents or wherever you're from
your local currency but it should have a
price so now you can actually buy the
account okay so you're going to continue
to
payment you're going to complete all
your credit card details and then you're
going to pay the money instantly once
the money is successful you should be
prompted to the next thing there is no
delay once it gets approved it's
approved and then you create the
wallet so it'll say something like
payment is successful ready to be
activated so you create account
now other versions have like backup
wallet now or something but for now it's
like create Wallet create account
now so you create account sometimes it
comes up with launch on anchor or launch
whatever the point is you start to now
want to create the new
account so there's a box with a GM sogm
stands for gry mass and that's your
wallet name so your wallet address is
always whatever. GM right so if I create
a wallet called uh let's say Rick okay
my the equivalent isn't at Rick right it
will just be rick. GM so if I want to
send XPR I'll put in Rick GM you have to
include the GM okay if you don't see GM
you're not going to say good morning to
the Phoenix okay so just remember that
the GM is very important here and in the
future I'll be referring to GM accounts
so all I mean by that is a newly minted
proton account which always ends in GM
and even the EOS version ends in GM
anything from anchor and uh ends in GM
so as an example I put test
so now it says yep test. GM is available
as a wallet okay so now I click
next then it says the test GM account
has now been created on the proton
blockchain so now let's make sure it's
secure by backing it up and creating the
owner
certificate so what you do is you go
create backup do not click I'll do this
later because you want to do it now so
create
backup once you've done done that it's
going to actually prompt you to print
your owner certificate so this is a
unique function of anchor wallet it
basically gives you the deed to your
account again proving that this is the
correct way to Anchor your wallet is by
creating a brand new account with the
deed certificate so you click print
certificate it will prompt you towards
your local printer you then print it
out and you'll get something like this
which looks like basically a house deed
or something very
professional um and you know so as an
example you're going to have the
accountant is going to have test or
whatever name you put
ingm right or rick. GM or whatever name.
GM it's going to have the network make
sure it's on proton I had a lot of
people messaging me saying I did it on
EOS and I said why' you do that they
said but your video but I said what
about your common sense
at the end of the day you're creating a
proton account proton go lives on its
proton native chain the screenshots I
use are sometimes from Google or
whatever so just use common sense and
just go with the flow and and uh this is
just about Concepts
here so basically it'll give you a 28
ponic but it's already printed out for
you you don't need to write it down and
this is how I know this is the future of
Finance because we're not going to be
sitting there writing on a scribbly
piece of paper what your seed phrases
are in the future you're just going to
print it out but to prevent people from
intercepting your computer you have
these extra six words called the
encryption key where they will prompt
you to actually write these down so what
you do is you write down the words they
give you
right so they'll give you the words on
the screen screen they'll say write
these words and keep it down safe and
then you do that then you go
continue after that it'll say yep all
good it's now all been backed up now
complete backup so now you're going to
store that owner certificate safe
because that's now your seed phrase and
your proof that you own that account now
you are the owner unlike with web or you
don't actually get that owner
certificate if you just do it through
web or and import your private
key now you want to unload all your XPR
tokens if that's what you want to do but
it's highly recommended that you do this
step because you want to move funds out
of a non-owner account into an account
that you fully own with the deed
certificate so you're basically going to
send all your proton all your you know
uh loan any other coins that live on the
proton blockchain and and you're going
to send it to your account so where it
asks you where do you want to send it
you put your account name and then you
put GM so you move all your accounts out
of web or into your gmgm account now
this is an interesting thing let's say I
send loan to my GM account on unic it's
still going to have $0 it never shows
you the value now this some people say
that this is because they don't want you
uh knowing when your value of your
wallet increased because then that will
substantiate that it act those tokens
are actually
compatible on that so don't they don't
want you I guess seeing that oh my loan
token increased the value when I sent it
so therefore it is living on the
blockchain you can actually go to your
XPR Explorer and actually check that it
is actually there in your GM account so
you type in test. GM or whatever into
XPR Explorer and it should come up that
all your tokens are safely there and it
and this is actually it is safe to send
all your proton assets to your GM
account so um yeah so uh there's a
there's a theory that it's basically uh
encrypted and it uses its own
encrypted uh system and so on so that's
why everything is obscure and stuff but
anyway so it's yes so you move out all
your tokens into the GM
account and then yeah the other option
is you launch
unicov right and then you go send and
receive and then you basically find your
account address and then you copy to
clipboard so unicov is the natural
extension of anchor I have a lot of
people saying oh it took me to unicov
and now I'm freaking out unicov is the
natural extension of anchor wallet it's
basically the UI the user interface
web wallet version of anchor which is
like the Machinery aspect um so
basically you can um send you can
basically sign blocks here you can send
tokens as normal you can receive tokens
and that puts it directly on your uh
ankor
wallet so as always the best way to
defeat the Beast is to ride the Beast uh
make sure to share this video
um this video replaces the previous
video I uploaded about linking your web
or wallet so that's no longer uh active
and I'll put a note in there make sure
to spread to everyone that you have
to create a new brand new proton GM
account and the previous method of just
linking or importing your your web or
Keys is simply insufficient and again
thanks to xrb for his research I'm
bringing this most important attention
to light so with that being said stay
safe hold the coins secure the coins and
let's Surf and ride through this caluga
together I'm crypto Rick and have a good
[Music]
day
X
we
are we
are
we
[Music]
we
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