1. Setup and Fund Avalanche Wallet | Coinbase Cloud (2024)
You can toggle between 3 options for your wallet address in the upper right corner of the Avalanche Wallet: X, P, or C, which indicate your unique wallet addresses for the Avalanche X-Chain, C-Chain, and P-Chain.
X-Chain is the Exchange Chain. Its sole purpose is for sending and receiving funds.
C-Chain is the Contract Chain. This is the chain used for smart contracts and defi, and it has an Ethereum-style address. If your AVAX is stored with Coinbase, your balance is on the C-Chain.
P-Chain is the Platform Chain. This is the chain for staking AVAX or running a validator. The P-Chain can receive transfers from the X and C chains using the Cross Chain transaction in the Avalanche Wallet.
Proceed with caution during these steps to ensure you are depositing AVAX to the correct wallet. You can lose your AVAX funds if you send them to the wrong chain’s wallet.
It suggests Core Wallet, MetaMask, and Trust Wallet as the best wallets for DeFi activities on the Avalanche network. For staking AVAX tokens, it recommends MetaMask, Trust Wallet, Core Wallet, and Ledger.
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