URGENT: HOW TO CREATE A NEW ANCHOR WALLET (GREYMASS ACCOUNT)-TO SECURE YOUR XPR TOKENS (+OWNER CERT)

Summary

This 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

00:00

🚨 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.

05:02

🔐 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.

10:03

🖨️ 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.

15:05

🌐 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.

Keywords

💡Anchor wallet

Anchor wallet is a cryptocurrency wallet developed by the company Greymass. It allows users to create and manage accounts on various blockchains, including the Proton blockchain. The video emphasizes the importance of creating a new Anchor wallet account, instead of simply importing private keys from another wallet like Webo, to fully secure and own your Proton (XPR) tokens and assets. Anchor wallet provides more robust security features, such as separating the owner key and active key, which can help prevent unauthorized access to your funds.

💡Proton blockchain

Proton blockchain, also referred to as the XPR network, is the blockchain platform on which the Proton cryptocurrency (XPR) operates. The video emphasizes the importance of creating a new Anchor wallet account specifically on the Proton blockchain to securely hold and manage your Proton tokens and other assets native to this blockchain. The Proton blockchain is distinct from other blockchain networks like EOS, and the video stresses the need to create the new account on the correct network.

💡Private keys

Private keys are a crucial component of cryptocurrency wallets, as they serve as proof of ownership and enable users to access and manage their funds. The video highlights the distinction between simply importing private keys from a Webo wallet into Anchor wallet, which is deemed insufficient for fully securing and owning your Proton assets, versus creating a brand new Anchor wallet account with its own set of private keys. The latter approach ensures that the user is the true owner of the account, with complete control over their funds.

💡Owner key

The owner key is a type of private key in the Anchor wallet system that provides the highest level of control and ownership over an account. Unlike the active key, which is used for day-to-day transactions, the owner key serves as a backup and allows the user to regain control of their account in case the active key is compromised. The video emphasizes that by creating a new Anchor wallet account, users become the true owners of their accounts, with access to both the owner and active keys, providing a higher level of security and control over their funds.

💡Paid account

The video mentions that creating a new Proton account on the Anchor wallet requires paying a fee, typically around $0.99 or the equivalent in the user's local currency. This paid account system is presented as a security measure, potentially to prevent unauthorized or malicious entities from easily creating multiple accounts. While importing private keys from another wallet like Webo is free, the video suggests that paying for a new Anchor wallet account is a crucial step in securely owning and managing your Proton assets.

💡Owner certificate

The owner certificate is a unique feature of the Anchor wallet system. It is a physical document, similar to a deed, that serves as proof of ownership for the user's Proton account. The video guides users through the process of printing and securely storing this owner certificate after creating a new Anchor wallet account. This certificate, along with the encryption key (a set of words the user must write down), acts as a backup and recovery mechanism in case the user loses access to their account, further emphasizing the importance of being the true owner of the account.

💡Webo wallet

Webo wallet is another cryptocurrency wallet mentioned in the video. The video contrasts the Webo wallet with the Anchor wallet, stating that simply importing private keys from a Webo wallet into Anchor wallet is not sufficient to fully secure and own your Proton assets. The video suggests that Webo wallets may have security limitations, such as fusing the active and owner keys into a single key, which could potentially compromise the security of the account. As a result, the video strongly recommends creating a brand new Anchor wallet account instead of relying on a Webo wallet for managing Proton assets.

💡Encryption key

The encryption key is a set of words provided by the Anchor wallet system during the account creation process. While the owner certificate is printed, the user is prompted to manually write down these encryption key words and keep them safe. The encryption key serves as an additional layer of security and recovery mechanism, allowing the user to regain access to their account in case the owner certificate is lost or compromised. This emphasizes the emphasis on robust security measures and account ownership within the Anchor wallet ecosystem.

💡GM account

The video frequently refers to 'GM accounts' when discussing the newly created Anchor wallet accounts. 'GM' stands for Greymass, the company behind the Anchor wallet. Accounts created on the Anchor wallet have the '.GM' extension added to the account name, such as 'test.GM' or 'rick.GM'. This 'GM' extension is used to identify accounts that are native to the Anchor wallet ecosystem and are distinct from accounts on other wallets or blockchain networks. The video stresses the importance of creating and using these 'GM' accounts to securely hold and manage Proton assets.

💡XPR Explorer

XPR Explorer is likely a blockchain explorer specifically designed for the Proton (XPR) blockchain. Blockchain explorers are tools that allow users to view and inspect transactions, account balances, and other activities on a particular blockchain network. The video suggests using the XPR Explorer to verify that the user's Proton tokens and assets have been successfully transferred to their newly created Anchor wallet 'GM' account. This serves as a confirmation that the assets are residing on the correct blockchain and under the user's ownership.

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

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