By downloading a crypto wallet such as Metamask, you take control of two 42-character keys.
1. a public key, known as your wallet address
2. a private key.
Your public key can be shared in order to trade with others. Your private key should never be shared
since it works like a password to your account.
Crypto wallets give you access to decentralized applications, or 'Dapps'. Dapps work differently to
traditional websites. Instead of acting as the agent between buyers and sellers just like Amazon or
eBay, when you purchase an item on Dapps the funds go straight from the buyer’s wallet to the seller's
That's why they are called ‘decentralized’ or ‘peer-to-peer’.
Renovi will never store your funds or assets. Although this means they will always be safe with you it
also means that we can’t retrieve them if you lose access to your wallet.
In case you forget your password you can get access to your wallet via your seed phrase. A seed phrase
is a series of words that accompany all wallet addresses. For good measure, write down and safely store
your seed phrase so you can refer back to it in time of need.
There are various different crypto wallet providers to pick from. In essence all crypto wallets serve
the same purpose, each with their very own benefits and benefits.
This guide introduces some of the crypto wallets that are supported by Renovi.
All crypto wallets have different features, but many users option for MetaMask for desktop use. When it
comes to mobile use Coinbase and Trust Wallets are popular. They all take a few minutes to install and
MetaMask – is both a browser extension with peerless power and flexibility but it also has its very own
Coinbase Wallet - The Coinbase Wallet app is another good alternative provided by Coinbase. It allows
users to explore various dapps through its browser.
TrustWallet - A non-custodial smartphone wallet that keeps your private key locally adding an
additional layer of security.
WalletConnect - WalletConnect is a protocol supported by many different Dapps and wallets. Any wallet
and Dapp with wallet connect functionality can connect to our website.
Gas fees are the equivalent of transaction fees on Ethereum or any other blockchain.
Any transactions, such as sending crypto to another wallet or in our case purchasing an NFT on Renovi
marketplace, require ETH/BSC in your wallet for the transaction to occur and the fees to be paid.
In Renovi there are two different types of fees users might pay: One time fees and
One time fees > Account Registration fees
If you’ve never traded on Renovi, you’ll need to pay a small fee as an account initialization fee
before you can list any of your work. By doing this you will be able to trade between your wallet and
If you are accepting an offer for a newly listed item, you’ll be asked to approve ETH, and pay gas
fees for accepting the offer.
This approval will be repeated every time you use a cryptocurrency for the first time.
You will pay gas fees when: a) Accepting offers b) Transferring NFTs to others c) Buying an NFT d)
Canceling a listing/bid
Please note that because gas prices do fluctuate due to network congestion.
Not using enough gas in a transaction might result in loss of the transaction fee.
Non-Fungible Tokens (NFTs) – They are unique, digital items with ownership that is managed and verified
by the blockchain. Some examples of NFTs include digital art just like you can find on Renovi, in-game
collectibles, digital sports memorabilia, virtual reality items and more.
NFTs can be programmed so that with each transaction a royalty is included. This allows creators to be
rewarded for their work. Since NFTs are created and stored on the blockchain, royalties can flow
seamlessly from wallet to wallet.
Purchasing items with a fixed price on Renovi. Select the Buy button and follow the prompts in your
preferred wallet. Once the transaction is finalised, the item will be transferred to your wallet and the
seller will receive the funds from your wallet.