Raptoreum Wallets: All You Need To Know

Raptoreum wallets are used to store Raptoreum (a cryptocurrency that will allow you to create futures, assets, and smart contracts, which allows up to 51% on double-spend attacks).

With an increase in the use cases for cryptocurrencies, it will only be good if more currencies are put up to cover most cases.

In this article, you will learn a lot about Raptoreum wallets, their benefits, and other interesting facts that you need to know about Raptoreum wallets.

A Brief About Raptoreum Wallets

Raptoreum is a cryptocurrency that was created to solve real-world issues in a simplified manner that can easily be adopted by people.

It is also a type of wallet that will allow you to store and hold your cryptocurrencies. Below you will see the features of Raptoreum wallets.

Features of Raptoreum wallets

The features of Raptoreum wallets are:

1 ASIC/FGPA-resistant GhostRider Algorithm

An algorithm made especially for Raptoreum wallets is GhostRider. It was designed to deter specialized technology like ASIC & FPGA that would allow anyone to mine it competitively and boost overall decentralization.

2. Easy and powerful asset platform

Raptoreum wallets are introducing an asset layer that will make it simple and fast for you to build a non-fungible asset or token.

Once smart contracts are included, you will be able to carry out trustless on-chain transactions of these assets will be possible.

3. Raptoreum futures

When a specific block height or timestamp is reached, it automatically releases any locked RTM money or assets from the particular transaction.

4. Multi-language smart contracts

Another feature that Raptoreum wallets offer is smart contracts. And smart contracts will be stored and performed on smart nodes, scaling will be possible and Ethereum’s congestion problems will be avoided. 

Additionally, this permits a wider range of programming languages to be used. For Raptoreum’s programming, 3–4 popular languages will be used. 

5. 51% double spend protection

Since March 4th, 2021, LLMQ and Chainlocks have been in operation to defend the Raptoreum network against 51% and double-spend attacks. 

Raptoreum wallet is one of the most secure cryptocurrency and asset systems currently accessible due to the activation of Chain locks.

6. Custom emissions and rewards

Raptoreum wallets have put in place a special reward system that not only makes emissions smooth but also distinctive. 

It also makes use of a tiered Smartnode reward and collateral mechanism, which should prevent hyperinflation (a typical and potentially disastrous issue with many Masternode-based projects).

Raptoreum Wallet App

Currently, Raptoreum wallets have no app, but you can store it with Zelcore, on your Android phone or your system.

Zelcore is a non-custodial platform that helps you manage your cryptocurrencies, and interact with dApps. 

To instore this Zelcore for Raptoreum wallet, you will need to download it from Google Play Store, Apple Store, or AppGallery.

Furthermore, on your PC, you can download it for Linux, Mac, or Windows. Now, after downloading the app, you will see the setup below.

Raptoreum Wallet Setup

Depending on the power of your PC, syncing Raptoreum wallets can take days, weeks, or even months. 

It takes around a week and a half to sync on my Ubuntu Focal, which has 4GB of RAM and a two-core Intel processor.

Furthermore, the Installation of the Raptoreum wallet on your phone is preferable if you are not utilizing a high-performance computer. It makes it simpler to use whenever you need it. 

Given below are the steps for you to set up your Raptoreum wallet:

• Make sure your mobile device is connected to the internet.

• Start your Google Play Store application.

• In the Google Play Store or iOS App search box, enter Zelcore, and hit the Zelcore icon.

• After downloading the app, you will need to launch it by tapping Open.

• Then on your device, click Sync/Register Account, then choose a username, and specify a secure password here.

• A bluish-brown icon next to creating the recovery password mechanism can be switched.

• Then tap Sync/Register Account. Wait for the creation of your account.

• The next step after creating your account is to enable d2FA on your Zelcore account in order to fully secure your account.

You also need to note that your wallets and account encryption are generated with these credentials. In addition, your account information stays encrypted on the device and is never transferred to a server.

Raptoreum Wallet Backup

Raptoreum wallets like any other wallet can be lost due to hardware failure, software failure, data corruption, blue screen of death, device theft, etc.

But you can get your cash back as long as your wallet backup file is safely kept. The most crucial action you should take to protect your assets is to back up your wallet. 

Your Ratoreum core wallet can be backed up in two different ways. 

1. Private keys

For this one, all you have to do is make a copy of wallet.dat and store it somewhere safe. Also, keep in mind that every wallet address has a different private key if you are exporting private keys.

The private key information should be kept on a USB device or written down in a secure location. And this can be done for many addresses.

You should also note that obtaining private keys for each address and maintaining them is challenging. Additionally, your private key cannot be recovered if even one letter or digit is lost. And this is where your wallet.dat file can save you.

Due to this, we also advise you to make a backup of your wallet.dat file.

2. Wallet.dat.

To secure your private key with a wallet.dat file, you can use this wallet terminal window. All you will need to do is to export the private key to the wallet terminal window.

Both techniques are advised for greater security, and this specific article provides detailed explanations on exporting private keys and backing up  

Since the private key wallet only talks about you copying and saving your private keys on a safe platform, it will then be good to put you through wallet.dat instead.

Wallet.dat

When creating a core for Raptoreum wallets, upon opening it for the first time, a wallet.dat file will be created automatically.

The operating system determines the wallet.dat file be created. If you haven’t modified the blockchain location, your wallet will be used by default.dat is located in the following place:

Windows: C:\Users\YourUserName\Appdata\Roaming\Raptoreum

Mac OS X: ~/Library/Application Support/Raptoreum/

Linux: ~/.raptoreum/

However, if you’ve selected a custom directory and are unsure of its location, open your wallet, go to Help >> Debug Window, and you’ll discover the Data directory under General Information.

In wallet.dat, which functions as a master private key, the basic wallet client stores all private key data. All of your addresses, your private keys, transaction details, and other data. 

Keep in mind that it is impossible to restore your wallet and you won’t have access to your money if you don’t have access to wallet.dat or your private keys. 

Nobody will be able to help you since your coins are lost forever. Go to the wallet file menu and select Backup Wallet to create a backup, or copy the wallet.dat file.

Alright! Since you now know how to back up your wallet, let’s look at how to restore a backup wallet.

Restore Raptoreum Wallet

For now, knowing how to save the private keys or wallet.dat files of Raptoreum wallets is for a rainy day. Here, you will see how to transfer a backup wallet.dat file to a new wallet client. 

Ensure to read this wallet update tutorial if you want to update your current wallet, or to restore a backup file to a new wallet on a new machine.

1. Start by downloading the most recent wallet from the Raptoreum Wallets GitHub project. Here, you may find the most recent core wallet client for it. https://github.com/braptoreum/raptoreum/releases

2. After downloading, unzip the file and finish setting up your wallet. To create all the necessary files, open your wallet and then close it. Once more, confirm that the wallet is not running.

3. Next, locate the wallet.dat file that is currently there and replace it with the backup file for your original wallet.

However, when renaming this file to wallet.dat, it’s also crucial to confirm that the current wallet is still holding any coins before restoring wallet.dat with a backup file.

If this is the case, make a backup of it as well or transmit the money to your own wallet address. We do not advise getting rid of wallet.dat. Instead, give it a new name like old-wallet.dat.

4. Restart the wallet using the -rescan command after the wallet backup has been changed. As soon as your wallet has finished syncing, you can access your recovered wallet. If the original backup file is encrypted, a password will be required to open the wallet and access the money.

How To Mine Raptoreum

After creating some Raptoreum wallets, it will be necessary for you to either buy some Raptoreums or mine them.

Though mining can earn you some Raptoreums, in the long run, it is not usually profitable. But as promised in this article, you will get to know everything about Raptoreum wallets. So let’s get in.

Download and synchronize Raptoreum core wallet.

Download Raptoreum Core, Raptoreum’s official wallet. Once it’s installed, you’ll have to wait for your computer to synchronize with the Raptoreum blockchain, which could take several hours.

Begin mining to your Wallet

After your Raptoreum core has synchronized, you should then navigate to Tools>Debug Console. Then you should type the following code:

setgenerate true <CPU core count>

So if you have a Ryzen 9 5950X (a 16-core processor), you’d type:

setgenerate true 16.

Also, if you don’t want to utilize all the cores during mining, you can enter a value that is less than your total core count. 

The major disadvantage is that this naturally decreases your hash rate. Furthermore, if you want to pause mining, enter the following into the console:

setgenerate false

After that, any RTM that’s mined will be automatically deposited in your wallet.

How To Sell Raptoreum

The reason for mining or buying Raptoreum and storing them in Raptoreum wallets is to make profit. Selling mined RTM as soon as possible is the best method to ensure profits even though it reduces your upside potential.

The most effective way to sell Raptoreum is through a centralized exchange that accepts the currency. With CoinEx accounting for around 55% of the total trading volume and being the largest Raptoreum CEX, anyone wishing to sell their collected RTM can easily do so.

1. Open a CoinEx account prior to selling any Raptoreum.

After opening a CoinEx account, you will navigate to Assets > Deposit. But ensure to carry out 2-factor authentication.

Once 2FA is finished, go back to the deposit page and confirm that Raptoreum is selected as the currency.  An address will be given to you, which you should copy.

2. Open Raptoreum Core (any of your Raptoreum wallets)

After opening the core, enable it to sync if necessary, after copying the deposit address. Paste the CoinEx deposit address under Pay To: in the Send tab, then enter the required amount.

Your funds will start to arrive as soon as you click Send. It may take up to 20 network confirmations (40 minutes) before funds are ready for trading, though this is rarely the case.

3. Open the exchange with an RTM balance in your CoinEx wallet.

For Raptoreum wallets, RTM/USDT and RTM/BTC are the two RTM trading pairs that CoinEx supports. 

Since your cryptocurrency will be converted into a stablecoin that isn’t volatile, it is advisable to use RTM/USDT. The money will be available in your CoinEx wallet after you have sold all of your Tether balance.

4. Lastly, select Withdraw from assets.

Your balance will be displayed once you choose USDT. Making sure the appropriate chain is chosen—ERC20 for Coinbase or BSC for Binance and Crypto.com—is crucial. 

Since the transaction charge on the Binance Smart Chain is only 1.1 USDT as opposed to the 49 USDT required for Ethereum network transfers, it is far superior.

Select the amount to be transmitted, enter your Coinbase/Binance/Crypto.com address, and then click Submit. Once in your CEX wallet, the USDT can be converted to cash and withdrawn.

Conclusion

And there you have it. As promised by this article, you have seen all you need to know about Raptoreum wallets, and how to buy, mine, and sell your Raptoreums.

Furthermore, this article also showed you how to save, backup up, and restore your Raptoreum wallets. 

Now that you have this much information about this coin, it can only become powerful when you utilize it properly. 

Also, the power to make wealth lies in collaboration. Hence, you can share this article with your friends and loved ones, so that they join in on making money from this project that will soon explode.

Frequently Asked Questions About Raptoreum Wallets