Recently, Reddit introduced Reddit Vault as a storage where Redditors can store their digital assets to further manage, transfer, and even sell them.
By understanding how Reddit Vault works, you can not only keep your Collectible Avatars safe, but also understand some great opportunities to invest in the future.
What is Reddit Vault?
Reddit Vault is your digital wallet on Reddit, where you can store all of your digital assets based on the blockchain technology. At the moment, Reddit Collectible Avatars are already available in the vault.
As soon as you create the vault, you will receive a public blockchain address and a private key granting the access to it. Only you have the ability to control and manage the vault.
In order to secure the Reddit Vault, you can create a password for it. Otherwise, the system will regenarate 12 recovery words for you. You can use these 12 words to load your wallet on other platforms, such as MetaMask.
How to create Reddit Vault
Whenever you use any Reddit blockchain-based feature, you will see a window showing up asking for your permission to create the Vault. For example, when you first buy an avatar on Reddit, you will immediately create the vault.
Then, create the blockchain Vault by following the system instruction.
How to protect my Vault?
Remember that only you have the access to your vault. The assets in your account can worth a lot of money, so it’s always a must to secure it. There is no way to recover your Vault if you lose the access to it.
To keep your Vault safe, the system will ask you to create a password for it.
Use a complex and unique password. Make sure you didn’t use it anywhere else, and make sure you can remember it. We cannot stress enough how important that is, especially if you already have a lot of valuable Reddit avatars.
There are a ton of passwords getting leaked every day on the internet, and you don’t want to use your most important passwords repeatedly.
This password is used only to open your Vault and control it. The password is required whenever you sell or transfer your digital assets.
Never give your password to anyone else. The Reddit administrators and moderators never ask for your Vault passwords, and they also don’t have any access to it.
Recently, the prices of Reddit avatars are skyrocketing, people are making x10-50x from the initial purchases, so there are a lot of scammers out there trying to get your avatar.
How to open my Vault on Reddit?
Whether you are using PC or mobile, you can easily open your Reddit Vault.
If you are on your Desktop, and you can’t navigate to your vault (not available yet), you still can get the recover phase and load it via Metamask, or more simply, download the Reddit mobile apps and open your Vault via your phones.
If you are using iOS (iPhone, iPad), open the official Reddit app, tapping on your avatar at the top right, then choose Style Avatar. You will be redirected to the Avatar Buyer page. Next, to go the You tab, then choose Your Stuff. Next, tap on the Gear icon located at the right side. Here, you can see your public address, change your password, or view your recovery phase.
If you are using Android, it’s very similar to the iOS section above. You also can access to it via the side drawer of the Android mobile app. There is a three-dot icon “…” located next to the Vault in the header, open it to get to the Vault Settings. Here, you can see the your avatar, log out of the wallet, switch Vaults, etc. Side drawer is coming to iOS soon!
What to do when I lose the recovery phase or Wallet Password?
Just like how the blockchain works, you and only you have the access to your Vault, wallet, or blockchain address. There is no way for Reddit to save your password, recovery phases, or wallet information.
There is nothing we can do if you lose your recovery phases.
So, remember to always keep it safe.
Can I lose the Vault access?
If your Reddit account is banned, Reddit cannot block, ban, or has any control over your Vault. However, you might face some issues accessing it if you don’t have the recover phase stored somewhere else.
If you have your phases saved, you can always open it on MetaMask wallet and sell your assets via OpenSea.
How to delete my current Vault?
Since it is already written on the blockchain, there is no way to remove it. The most simple way is just to change to the password to something that you can never remember it.
Otherwise, you can submit a ticket here and the Reddit support team will help you unlink the vault from your account.