โœ… How to create your Magic Link wallet on PlotX

How to make an account on PlotX using Magic Link?

Step 1 - Head on over to v2.plotx.io and click on the "Connect Wallet" button

Step 2 - Enter your email ID and hit the "Connect Wallet" button

Step 3 - Log in to your email and approve the login by clicking on the "Log in to PlotX" button

And voilรก! Authentication and authorization achieved, without requiring user passwords.

You can find your Magic Link wallet address on the My Funds page.

Step 1 - Navigate to the My Funds page:

Step 2 - Copy your Magic Link wallet address:

What does it mean to create a Magic Link wallet?

PlotX uses Magic Link as a method of logging into the v2 app.

  • Magic Link is a service that helps applications/website enable password-less login for their users

  • It does so by asking each user for their email address and then emailing a "Login" button (aka magic link) to the user

  • When the user clicks on the "Login" button, they are logged into the application/website they were trying to access

PlotX does not store any user's email address.

In the case of Decentralized Applications (DApps) like PlotX, Magic Link is also a wallet provider. This basically means that when a user signs up on a DApp like PlotX for the first time, Magic Link generates a Web3 Ethereum wallet for them. Here's a quick summary of how it works:

  • When a user signs up on a DApp that uses Magic Link for the first time, Magic Link generates a public-private key-pair for them on the Ethereum blockchain

  • The public key (which is also the wallet address) acts as an identifier for the user

  • Leveraging elliptic curve cryptography, the private key is used to generate verifiable proof of identification and authorization from a claim

  • The proof is then sent to the developer application servers where data in the claim can be recovered/decoded, and the authenticity of the request can be ensured

Your Magic Link wallet is completely non-custodial. Only you have the ability to access it and make transactions from it.

Summarizing:

  • When you create a Magic Link wallet, you are basically generating a new Web3 Ethereum wallet that is meant to be used on PlotX only

  • This wallet will facilitate all the trades that you'll do on PlotX

  • Since PlotX v2 is launching on Polygon, this new wallet is connected to the Polygon network by default

  • The UI for your new wallet is baked right into the PlotX UI. Whenever you do any of the following user actions, you're doing it with the help of your new wallet:

    • Placing a prediction

    • Depositing PLOT

    • Withdrawing PLOT to another wallet

    • Claiming your rewards

You can import your Magic Link wallet address to any other Web3 Ethereum wallet, but doing so will sacrifice the security benefits that you get from Magic Link. You can export the private keys to your Magic Link wallet using this link.