the complete guide to wallets on parasol

whether you just signed up or you have been trading with parasol for a while, this guide covers everything about how wallets work on the platform: how your wallet is created, why you should claim your seed phrase, how to import additional wallets, and why it is all secure.

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your wallet is created automatically when you join

when you sign up to parasol, a fresh Solana wallet is created for you automatically. you do not need to install Phantom, Backpack, or any browser extension. you do not need to generate a seed phrase yourself.

this wallet is created using Turnkey, an institutional-grade key management platform built on multi-party computation (MPC). the same infrastructure used by crypto hedge funds and enterprise trading desks.

what this means in practice

your private key is generated inside Turnkey's secure enclave

the key is immediately split into cryptographic shares across multiple independent nodes

the full private key never exists in a single location: not on parasol's servers, not on Turnkey's servers, not in your browser

parasol can sign transactions on your behalf (for buys and sells) but cannot extract or see your private key

this is non-custodial: you own the wallet, parasol operates it for trading

for a deep technical breakdown of how this works and how it compares to Phantom, Telegram bots, and hardware wallets, read our wallet security deep dive.

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step 1: claim your seed phrase (important)

after your wallet is created, the first thing you should do is claim your seed phrase. this gives you full, independent access to the wallet outside of parasol.

why this matters

parasol is in early beta. while the platform is stable and actively improving, claiming your seed phrase means:

you can always access your funds directly using any Solana wallet (Phantom, Solflare, Backpack) even if parasol is down or undergoing maintenance

you have a backup in case you lose access to your parasol account

you are in full control at all times, which is how non-custodial should work

how to claim

1. go to your profile page on parasol

2. connect any Solana wallet (Phantom, Backpack, etc.) to verify your identity

3. your seed phrase will be displayed once

4. write it down on paper and store it safely. never share it. never screenshot it. never paste it into a website.

once claimed, you can import this wallet into any Solana wallet app and access your funds directly at any time.

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step 2: fund your wallet

send SOL to your parasol wallet address (visible on your profile page and dashboard). parasol works best with 1+ SOL for testing and 10+ SOL for meaningful trading.

your wallet needs SOL for:

buying tokens (the agent's position size)

transaction fees (Solana network fees, typically < 0.01 SOL per trade)

sell reserves (small amount held back so the agent can always exit positions)

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importing additional wallets

you can import up to 10 additional wallets into parasol. this is optional. your auto-generated wallet works perfectly on its own.

why you might want to import a wallet

wallet rotation: experienced traders rotate wallets regularly for privacy and to avoid being tracked by on-chain analytics. importing a fresh wallet into parasol lets you continue trading on a new address without creating a new account

separate strategies: run different agents on different wallets to keep strategy performance isolated

use an existing wallet: if you already have a funded Solana wallet, import it instead of transferring SOL to a new one

how to import

1. go to your profile page

2. click import wallet

3. paste your wallet's private key (base58 encoded)

4. give it a label (e.g. "trading wallet 2")

5. the wallet appears in your wallet list immediately

is it safe to import my private key?

yes. here is exactly what happens:

your private key is encrypted using AES-256-GCM before it leaves your browser

the encrypted key is stored in parasol's database. the raw private key is never stored.

when a trade needs to be signed, the key is decrypted in memory for the duration of the signing operation, then discarded

parasol's servers never log, cache, or persist the decrypted key

the encryption key (WALLET_ENCRYPTION_SECRET) is stored as an environment variable on the server, separate from the database

this is the same level of protection used by institutional trading infrastructure. your imported private key is never visible to parasol staff, never stored in plaintext, and never transmitted unencrypted.

for full details on the encryption architecture, see our security and safety guide and wallet security deep dive.

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switching between wallets

if you have multiple wallets (your original + imported ones), you can switch between them:

1. go to your profile page

2. in the wallet section, click on the wallet you want to use

3. it becomes the active wallet immediately

4. any running agent will switch to using the new wallet for all future trades

open positions from the previous wallet are still tracked and managed. the agent uses the correct wallet for each position when selling.

---

claiming recoverable rent

Solana charges a small rent deposit (0.002 SOL) for each token account created in your wallet. when you sell a token completely, this rent can be reclaimed.

parasol has a built-in claim rent feature on the profile page that:

scans all your wallets (including imported ones) for empty token accounts

reclaims the rent SOL back to your wallet

typically recovers 0.002 SOL per closed position

if you have traded dozens of tokens, this can add up to a meaningful amount.

---

best practices

1. claim your seed phrase before trading. this is the single most important step.

2. start with a small amount. fund your wallet with 0.5-1 SOL first. understand how the agent trades before committing more.

3. rotate wallets periodically. import a fresh wallet every few weeks for privacy.

4. never share your seed phrase or private key with anyone, including parasol support. we will never ask for it.

5. keep your browser tab open while the agent is running. parasol's agents currently run in your browser (server-side agents are coming soon).

6. claim rent regularly. after selling tokens, reclaim the locked SOL from empty accounts.

---

frequently asked questions

do i need to connect an external wallet to use parasol?

no. a wallet is created for you automatically. you only connect an external wallet if you want to claim your seed phrase (for identity verification) or if you want to import an additional wallet.

can parasol access my funds without my permission?

parasol can only sign transactions that the trading agent initiates (buys and sells). it cannot transfer SOL to arbitrary addresses. the trading logic is deterministic: the agent buys tokens that pass its filters and sells based on its exit rules. a 1% platform fee is collected on each trade.

what happens if parasol goes down?

your wallet and funds are safe. import your seed phrase (or private key for imported wallets) into any Solana wallet app and you have full access. your tokens and SOL are on the Solana blockchain, not on parasol's servers.

can i use the same wallet on parasol and phantom at the same time?

yes. your wallet is a standard Solana wallet. you can view balances, send transactions, or trade on other platforms using the same wallet simultaneously. just be aware that the parasol agent may also be trading on the same wallet.

is there a fee?

parasol charges a 1% platform fee on every buy and sell. this is comparable to other Solana trading tools (Axiom, GMGN, Trojan). the fee is collected atomically inside the swap transaction.

---

for more on security, read:

wallet security deep dive -- how Turnkey MPC works and how it compares to other wallets

security and safety -- overall platform security and best practices

the complete guide to wallets on parasol

---

your wallet is created automatically when you join

what this means in practice

your private key is generated inside Turnkey's secure enclave

the key is immediately split into cryptographic shares across multiple independent nodes

the full private key never exists in a single location: not on parasol's servers, not on Turnkey's servers, not in your browser

parasol can sign transactions on your behalf (for buys and sells) but cannot extract or see your private key

this is non-custodial: you own the wallet, parasol operates it for trading

for a deep technical breakdown of how this works and how it compares to Phantom, Telegram bots, and hardware wallets, read our wallet security deep dive.

---

step 1: claim your seed phrase (important)

after your wallet is created, the first thing you should do is claim your seed phrase. this gives you full, independent access to the wallet outside of parasol.

why this matters

parasol is in early beta. while the platform is stable and actively improving, claiming your seed phrase means:

you can always access your funds directly using any Solana wallet (Phantom, Solflare, Backpack) even if parasol is down or undergoing maintenance

you have a backup in case you lose access to your parasol account

you are in full control at all times, which is how non-custodial should work

how to claim

1. go to your profile page on parasol

2. connect any Solana wallet (Phantom, Backpack, etc.) to verify your identity

3. your seed phrase will be displayed once

4. write it down on paper and store it safely. never share it. never screenshot it. never paste it into a website.

once claimed, you can import this wallet into any Solana wallet app and access your funds directly at any time.

---

step 2: fund your wallet

send SOL to your parasol wallet address (visible on your profile page and dashboard). parasol works best with 1+ SOL for testing and 10+ SOL for meaningful trading.

your wallet needs SOL for:

buying tokens (the agent's position size)

transaction fees (Solana network fees, typically < 0.01 SOL per trade)

sell reserves (small amount held back so the agent can always exit positions)

---

importing additional wallets

you can import up to 10 additional wallets into parasol. this is optional. your auto-generated wallet works perfectly on its own.

why you might want to import a wallet

separate strategies: run different agents on different wallets to keep strategy performance isolated

use an existing wallet: if you already have a funded Solana wallet, import it instead of transferring SOL to a new one

how to import

1. go to your profile page

2. click import wallet

3. paste your wallet's private key (base58 encoded)

4. give it a label (e.g. "trading wallet 2")

5. the wallet appears in your wallet list immediately

is it safe to import my private key?

yes. here is exactly what happens:

your private key is encrypted using AES-256-GCM before it leaves your browser

the encrypted key is stored in parasol's database. the raw private key is never stored.

when a trade needs to be signed, the key is decrypted in memory for the duration of the signing operation, then discarded

parasol's servers never log, cache, or persist the decrypted key

the encryption key (WALLET_ENCRYPTION_SECRET) is stored as an environment variable on the server, separate from the database

for full details on the encryption architecture, see our security and safety guide and wallet security deep dive.

---

switching between wallets

if you have multiple wallets (your original + imported ones), you can switch between them:

1. go to your profile page

2. in the wallet section, click on the wallet you want to use

3. it becomes the active wallet immediately

4. any running agent will switch to using the new wallet for all future trades

open positions from the previous wallet are still tracked and managed. the agent uses the correct wallet for each position when selling.

---

claiming recoverable rent

Solana charges a small rent deposit (0.002 SOL) for each token account created in your wallet. when you sell a token completely, this rent can be reclaimed.

parasol has a built-in claim rent feature on the profile page that:

scans all your wallets (including imported ones) for empty token accounts

reclaims the rent SOL back to your wallet

typically recovers 0.002 SOL per closed position

if you have traded dozens of tokens, this can add up to a meaningful amount.

---

best practices

1. claim your seed phrase before trading. this is the single most important step.

2. start with a small amount. fund your wallet with 0.5-1 SOL first. understand how the agent trades before committing more.

3. rotate wallets periodically. import a fresh wallet every few weeks for privacy.

4. never share your seed phrase or private key with anyone, including parasol support. we will never ask for it.

5. keep your browser tab open while the agent is running. parasol's agents currently run in your browser (server-side agents are coming soon).

6. claim rent regularly. after selling tokens, reclaim the locked SOL from empty accounts.

---

frequently asked questions

do i need to connect an external wallet to use parasol?

no. a wallet is created for you automatically. you only connect an external wallet if you want to claim your seed phrase (for identity verification) or if you want to import an additional wallet.

can parasol access my funds without my permission?

what happens if parasol goes down?

can i use the same wallet on parasol and phantom at the same time?

is there a fee?

parasol charges a 1% platform fee on every buy and sell. this is comparable to other Solana trading tools (Axiom, GMGN, Trojan). the fee is collected atomically inside the swap transaction.

---

for more on security, read:

wallet security deep dive -- how Turnkey MPC works and how it compares to other wallets

security and safety -- overall platform security and best practices

The Complete Guide to Wallets on Parasol

the complete guide to wallets on parasol

your wallet is created automatically when you join

what this means in practice

step 1: claim your seed phrase (important)

why this matters

how to claim

step 2: fund your wallet

importing additional wallets

why you might want to import a wallet

how to import

is it safe to import my private key?

switching between wallets

claiming recoverable rent

best practices

frequently asked questions

related

cycle 3: MCP server, 8 security audits, and the Parasol SDK

what tournament poker taught us about memecoin bankroll management

Pump.fun Trading Bot: How to Automate Solana Memecoin Trading in 2026

The Complete Guide to Wallets on Parasol

the complete guide to wallets on parasol

your wallet is created automatically when you join

what this means in practice

step 1: claim your seed phrase (important)

why this matters

how to claim

step 2: fund your wallet

importing additional wallets

why you might want to import a wallet

how to import

is it safe to import my private key?

switching between wallets

claiming recoverable rent

best practices

frequently asked questions

related

cycle 3: MCP server, 8 security audits, and the Parasol SDK

what tournament poker taught us about memecoin bankroll management

Pump.fun Trading Bot: How to Automate Solana Memecoin Trading in 2026