Wallets
A digital/crypto wallet is an application or hardware device that allows individuals to store and transfer digital assets like cryptocurrencies and Non-Fungible Tokens (NFTs). In order to buy and sell on Refinable, you will need to create a digital wallet and connect to our platform.
How do they work?
When you download a digital wallet, you will be responsible for two sets of digital keys; a public key and a private key. Most hardware and software wallets will take care of these without much technical knowledge from users
- Private Key (and/or Recovery Seed)
- This is your ultra-important password to access your wallet. You can use this code to restore any wallet from anywhere. If someone else has this, your wallet is as good as gone.
- Most people store this very safely away, and most applications provide a recovery seed in case you lose your private key. Do not lose either of these!
- Public Key
- This is a public-facing key that other people can use to send tokens to your wallet
Securing your funds
Refinable never stores your funds or assets. This means that we can’t retrieve them if you lose access to your wallet. Understanding this risk is essential to successfully securing your crypto and NFTs.
Seed phrase
If you do forget your password, you can access your wallet via your seed phrase, a series of words that accompany all wallet addresses. It's highly recommended to write down and safely store your seed phrase in multiple places when you first download your wallet.
Getting started
There are many types of wallets, some with more features than others.
- Buy a Hardware wallet (Trezor, Ledgar, Safepal, etc.)
IMPORTANT: each wallet may support different blockchains/networks. Please make sure your wallet can support the assets from the blockchain you want.
- I.e. Metamask supports Ethereum, so all Ethereum based assets (ERC20) can be received by your Metmask wallet. You will have to add new networks manually (BSC)
- Binance Chain Wallet does not support Cardano, so all Cardano assets cannot be stored on Binance Chain wallet
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Last modified 6mo ago
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