Just three months after the release of the IOTA Trinity mobile wallet in May 2018, the highly anticipated desktop beta version has now been released. IOTA has lacked a safe and functional wallet since the beginning—something which has garnered a lot of negative attention in the crypto community—so these apps are definitely a timely addition to the IOTA project, providing an easy, user-friendly way to send, receive and store IOTA.
In this quick tutorial, we’ll walk through the setup process for the new desktop wallet, as well as reviewing the sending and receiving functionality. At the time of publication, the current version is the beta 0.3.2 version, which we will be installing a Mac laptop.
Setting up the IOTA Trinity desktop wallet
The on-boarding process is extremely simple and very well designed. To begin, make sure you have downloaded the most up-to-date version of the Trinity wallet from the IOTA Trinity website or Github page.
Once downloaded, open the installer package and drag the app icon into your Applications folder (Apple Mac).
Creating a seed
Next, you will be presented with two options: create a new seed, or use an existing seed.
Unless you are importing a seed from another wallet, simply click Yes, I need a seed to proceed to the next step.
Generating the seed
You’ll be presented with a new randomly generated seed, as shown in the screen below. In order to proceed, you must click on at least 10 characters in order to randomise the seed even further. Once complete, you’ll be able to click the button to continue. Don’t worry about saving the seed—you will have the opportunity to do this in the next step.
The next screen allows you to add a custom name for your main wallet account. The default is ‘Main Account’. You can change this in the Settings page anytime, so feel free to click through to the next step.
Backing up your seed
There are three options available for backing up your new wallet seed: Write down the seed, export an encrypted copy or print a paper copy. We would advise completing at least two of these backups—making sure you have adequate options available for storing each backup (physical safe, cloud storage, password manager, etc.).
NOTE: For security reasons, the app developers have disabled copy/paste within the setup process. However, we were able to click the Print a paper copy option and temporarily save the file as a PDF. This allowed us to copy the seed from the PDF into a password manager. WARNING: This step is not generally recommended—and you should never permanently save your seed as a PDF or screenshot, especially if you are on a public or shared WiFi network.
When choosing the Export SeedVault option, you will be required to create a password to encrypt and protect the exported file. This is not your overall Trinity password (which is chosen at the end of the setup process) but instead is only used to access the encrypted seed backup. You can save the encrypted backup file in multiple locations: hard drive, USB, cloud storage.
Once you are happy that you have adequately and securely backed-up your wallet seed, click I’ve saved my seed to move on to the next step.
Confirming your seed backup
This step helps confirm that you have properly backed-up your seed. The easiest way to do this is by using the encrypted backup file you have just created. Drop the file into the dotted rectangle area shown, or click to bring up a file browser and add the file that way.
After adding the encrypted backup file you will be required to enter your seed password to confirm the backup. Complete this step and continue on to the final step.
Create a wallet password
The final step in the setup process is to create a login password for the Trinity desktop wallet. Create a strong password—preferably using a password manager—and click Continue to complete the setup process.
The desktop wallet has a great user interface design, and shows all the necessary controls on the main dashboard. Additional features are easily accessible using the Settings menu option. These include:
- Two-factor authentication (recommended)
- Node selection
- Theme style
- Currency settings
The wallet definitely looks great and the user experience is a vast improvement on the original light wallet, which was plagued with issues. The setup took less than five minutes and everything worked as expected.
We sent a small transaction from an exchange to our test wallet. There was a delay of a few hours from the exchange in question, but otherwise the transaction was received and processed as expected.
We also sent out a small 1Mi transaction to our test IOTA Trinity mobile wallet. The screenshot below shows the dashboard options when sending IOTA. We used our laptop camera and held up a QR code on our Trinity mobile wallet to automatically pull in the receiving address.
As you can see from the graphic below, the overall transaction took approximately 30 seconds to process on the desktop wallet—including the required proof of work, which we had kept at the default setting of Local. This meant our Apple Mac laptop was performing the PoW required for the transaction.
The transaction showed up almost immediately on the mobile wallet, and was fully confirmed and received within 15-30 seconds.
A video of the setup process has been made available, as well as some additional videos showing how to perform certain manual tasks within the wallet.
For a list of the latest IOTA projects being developed, check out the IOTA ecosystem at https://ecosystem.iota.org/.