How to set up a wallet
Q: What is a wallet?
A wallet is a place where cryptocurrency is held. It’s like paypal or venmo, just with crypto. Any crypto wallet can be used with Paloma Pay. If a customer is new to crypto we have a couple recommendations that we like that are user friendly.
Q: Which wallet should I get?
Two of our favorite beginner wallets are Coinbase and Rainbow. Both are user-friendly and work with Paloma Pay. Rainbow allows users to purchase Ethereum using Apple Pay. Coinbase allows users to purchase Ethereum or USDC using your debit card, but you will need to upload a picture of your government issued ID to set up a Coinbase account.
Start by setting up an account with Coinbase on Ios or Android. Once you're setup you can purchase Ethereum or USDC.
- Download App and Setup your account.
- Link Paypal or Debit Card for instant use.
- Purchase Ethereum or USDC -- Paloma Pay supports both of those coins. Please add more than the exact amount you expect to order. Cryptocurrency incurs network fees that vary.
- After you place an order with a merchant who uses Paloma, you will receive a text with a link to complete your payment. Choose the type of coin you’d like to pay with (ETH or USDC). Copy the address from the Paloma Pay app and send the amount due from your wallet. Instructions here. Make sure you copy and paste the correct address into the “To” bar.
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Rainbow wallet is only available as an app on the iphone. You can get setup quickly by purchasing Ethereum with Apple Pay. Start by setting up an account with Rainbow.
- Download App on iphone
- "Add Cash" to purchase Ethereum (ETH) with Apple Pay
- After you place an order with a merchant who uses Paloma, you will receive a text with a link to complete your payment. Choose Ethereum (ETH) as payment method. Copy the address from the Paloma Pay app and send the amount due from your wallet. Make sure you copy and paste the correct address into the “To” bar.