Many companies raising on Republic Crypto use securities instruments that can be repaid in tokens at a future date. The most common uses of tokens are to represent shares in a company or to be used as a way to pay for the use of the product a company is offering.
Tokens are held through a wallet. A wallet holds and secures the tokens you own. Your wallet consists of a public address which is used to identify your wallet and the tokens it holds. In fact, within the software of the token, there is a piece of data which keeps the address of the wallet which owns it.
(Disclaimer, this was an oversimplification of what a cryptocurrency wallet is. While it will suffice for the purpose of this explanation, you can find a more detailed and accurate explanation here. This explanation should not be read as a guarantee that any offering on Republic Crypto will result in tokens being distributed )
When investing on Republic Crypto, we generally ask for a wallet address as part of the investment process. This address will be used by the issuing company to send you tokens if they are due to you.
Before we give you instructions, we should make a few simple disclaimers, setting up your wallet is your personal responsibility - while Republic is providing this guide as an educational tool, we can't be responsible for for your wallet's set-up or security. You should do you own research and diligence before creating a wallet and when making decisions on how best to secure it.
If you already have a wallet and just want to get the public address, click here.
In the following set of (rather lengthy) instructions, we'll instruct you on how to create and Ethereum wallet using a website called MyEtherWallet and also how to find out the wallet's public address.
How to set up an ether wallet and get the address using MyEtherWallet
1. Go to https://www.myetherwallet.com on your browser
2. You should see a welcome screen like this:
We highly suggest you go through the information provided in this mini-tutorial. This website will make an ether wallet for you and give you the necessary details to access and use it, however it won't keep your wallet secure for you. That's your responsibility and this tutorial gives important information on how to do so.
To go through the tutorial, you press the blue button with the arrow on each page.
If you're already aware of what needs to be done in order to keep an ether wallet safe, they do give you the option to quit the tutorial by clicking on the tiny cross on the top right (we've pointed at it in the screenshot below.
3. You should now see the MyEtherWallet homepage. The homepage happens to be the fastest way to create a new ether wallet.
You start by entering a password in the box (we've pointed at it in the screenshot below). As with all passwords, make sure it's strong (Here's a good article on how to do that).
Once that's done, click on the "Create New Wallet" button.
4. The next screen you're taken to will ask you to save you 'Keystore' file. Your keystore file is similar to a backup key to your house's front door. If you lose your main key, you can use it to access your house. However, if someone else has your backup key, they too can get into your house. Your keystore file is evidently not a physical object but a computer file.
You should download your keystore file and keep it in a safe location in your computer or on the cloud that only you have access to. Ideally you will make backups of this file and keep them in equally secure locations.
To get through this step you click the "Download Keystore File (UTC/JSON)" button.
One of two things will happen here. Either
Once you've downloaded the file, the "I understand. Continue." button should go from a blush red to a more solid red. And you'll now be able to click it. Go ahead and do that.
5. The next step involves your private key. If we continue the analogy with your house door, your private key is your main key. But unlike a physical key, it's significantly easier to duplicate. If someone knows your private key, they have as much access to the wallet as you do. Unlike a password, or a house key, you cannot change your private key.
What this means is that you should never let anyone see your private key, unless you're willing to give control of everything that is in your wallet to them at any point in time. We recommend that you keep a copy of your private key in an extremely secure location. A popular solution is to write down your private key on a piece of paper and store it in a safe only you have the combination to. But make multiple copies and be sure that you copied it accurately.
MyEtherWallet is kind enough to provide an option to print your paper wallet. This is to make it easier for you to print or save a few important pieces of information about your wallet. We suggest that you click on the "Print Paper Wallet" button and save and / or print the image they give you. It will look something like this:
(p.s. don't get excited, there's nothing in this wallet, but take note of how easy it is to access a wallet once you have the private key)
You'll notice that your Address is also on the image. A public address is what is used to transfer tokens to your wallet. It is okay if other people know your address, it gives them no control over the contents.
The public address is what you will have to provide to Republic so that the company you invested in can transfer tokens to your wallet.
After you've gone through the necessary steps to safeguard your private key, go ahead and click the "Save Your Address" button.
6. You should now be taken to a screen that asks you to "Unlock your wallet to see your address"
For the sake of this tutorial we'll unlock your wallet using your private key.
Click on the little circle to the left of the Private Key option on the menu:
You should see some information and a box appear on the right of the screen. Enter your private key into the box on the bottom right:
If you've entered a valid private key, the box's red outline will turn green and an unlock button will appear like so:
7. If successful, a blue bar will temporarily appear at the bottom of your screen saying "Wallet successfully decrypted.
If you scroll down now, you should be able to see all your wallet information. Including your address, your private key (which can be made visible by pressing the little eye icon), as well as your token balances.
We've highlighted your Account Address with a red box since this is what you will need to enter when you submit your wallet address to Republic.
If you already have an ether wallet and you just want to get to the "Wallet Information" screen in step 7 it should be quite straight forward.
When you see the homepage upon going to https://www.myetherwallet.com, click on the View Wallet Info button near the header (circled below).
You should be taken to the following screen:
Look familiar? You can now follow the same instructions as Step 6 in this tutorial to access your wallet information.
Good luck and let us know if we missed anything - you can always e-mail us at [email protected] to suggest improvements to this guide.
Invest in promising
Win a brand-new Apple iPhone 11 Pro with 256 GB of storage. In addition, winner will be featured in our newsletter, get 100 Notes, and a Republic swag pack.
Win a brand-new Apple Watch 5 Space Gray Aluminum Case with Sport Band. In addition, winner will be featured in our newsletter, get 50 Notes, and a Republic swag pack.
Win a brand new set of Apple AirPods. In addition, winner will be featured in our newsletter, get 30 Notes, and a Republic swag pack.
All runners up will get 5 Notes and a swag pack featuring their choice of a Republic t-shirt or hoodie, a pin and a sticker pack.
What other rules should I be aware of?
(Obviously) no cheating. Fraudulent actions towards earning Notes will result in immediate disqualification.
This site (the "Site") is owned and maintained by OpenDeal Inc., which is not a registered broker-dealer. OpenDeal Inc. does not give investment advice, endorsement, analysis or recommendations with respect to any securities. All securities listed here are being offered by, and all information included on this Site is the responsibility of, the applicable issuer of such securities. The intermediary facilitating the offering will be identified in such offering’s documentation.
All funding-portal activities are conducted by OpenDeal Portal LLC doing business as Republic, a funding portal which is registered with the US Securities and Exchange Commission (SEC) as a funding portal (Portal) and is a member of the Financial Industry Regulatory Authority (FINRA). OpenDeal Portal LLC is located at 335 Madison Avenue, Suite 7E, New York, NY 10017, please check out background on FINRA’s Funding Portal page.
All broker-dealer related securities activity is conducted by OpenDeal Broker LLC, an affiliate of OpenDeal Inc. and OpenDeal Portal LLC, and a registered broker-dealer, and member of FINRA | SiPC, located at 1345 Avenue of the Americas, 11th Floor, New York, NY 10105, please check our background on FINRA’s BrokerCheck.
Certain pages discussing the mechanics and providing educational materials regarding regulation crowdfunding offerings may refer to OpenDeal Broker LLC and OpenDeal Portal LLC collectively as “Republic”, solvely for explanatory purposes.
Neither OpenDeal Inc., OpenDeal Portal LLC nor OpenDeal Broker LLC make investment recommendations and no communication, through this Site or in any other medium should be construed as a recommendation for any security offered on or off this investment platform. Investment opportunities posted on this Site are private placements of securities that are not publicly traded, involve a high degree of risk, may lose value, are subject to holding period requirements and are intended for investors who do not need a liquid investment. Past performance is not indicative of future results. Investors must be able to afford the loss of their entire investment. Only qualified investors, which may be restricted to only Accredited Investors or non-U.S. persons, may invest in offerings hosted by OpenDeal Broker.
Neither OpenDeal Inc., OpenDeal Portal LLC nor OpenDeal Broker LLC, nor any of their officers, directors, agents and employees makes any warranty, express or implied, of any kind whatsoever related to the adequacy, accuracy or completeness of any information on this Site or the use of information on this site. Offers to sell securities can only be made through official offering documents that contain important information about the investment and the issuers, including risks. Investors should carefully read the offering documents. Investors should conduct their own due diligence and are encouraged to consult with their tax, legal and financial advisors.
Investors should verify any issuer information they consider important before making an investment.
Investments in private companies are particularly risky and may result in total loss of invested capital. Past performance of a security or a company does not guarantee future results or returns. Only investors who understand the risks of early stage investment and who meet the Republic's investment criteria may invest.
Neither OpenDeal Inc., OpenDeal Portal LLC nor OpenDeal Broker LLC verify information provided by companies on this Site and makes no assurance as to the completeness or accuracy of any such information. Additional information about companies fundraising on the Site can be found by searching the EDGAR database, or the offering documentation located on the Site when the offering does not require an EDGAR filing.