Setting up a Wallet
To use stablecoins on our platform—whether for payments, payouts, or integrations—you’ll need a digital wallet. Think of it as your personal account for sending, receiving, and storing digital assets.
There are different types of wallets depending on your needs, but the setup process is usually quick. This guide covers what a wallet does, how to choose the right one, and how to get started.
What is a wallet?
A wallet is a tool that lets you:
- Store stablecoins and other digital assets
- Send and receive payments
- Connect to apps or payment gateways
- View your balances and transaction history
Some wallets are mobile apps or browser extensions you control directly (called self-custodial), while others are hosted by third parties (custodial wallets) that manage the private keys for you.
Choosing the right wallet
Here’s a quick comparison of the two main types:
| Wallet Type | Control of Funds | Ease of Use | Ideal For |
|---|---|---|---|
| Self-Custodial (e.g. MetaMask, Rabby, Trust Wallet) | You | Moderate | Power users, full control |
| Custodial (e.g. Coinbase, exchanges, payment providers) | Third party | Easy | New users, business flows |
If you're a merchant, developer, or company integrating wallets into a product, you might also use multi-sig wallets, embedded wallets, or wallet-as-a-service providers to streamline the experience for your users.
Step-by-step: Creating a wallet
For Self-Custodial Wallets (like MetaMask)
1. Download the wallet. Go to the official site or app store and install the browser extension or mobile app.
2. Create a new wallet. Follow the prompts to generate a wallet. You’ll be given a seed phrase—this is your master password. Store it offline, somewhere safe. If you lose this phrase, you lose access to your wallet.
3. Set a password. This protects your wallet on your device. It doesn’t replace the seed phrase, but it’s a layer of everyday protection.
4. Add the stablecoin and network. You may need to manually add certain tokens or select the correct blockchain network (e.g., Polygon, Ethereum). Each stablecoin must match the network it lives on.
5. Fund your wallet. You can receive stablecoins from another wallet, exchange, or payment provider. You can also swap crypto into stablecoins within the wallet interface.
For Custodial Wallets
1. Sign up with a provider. Register with a trusted exchange or app that supports stablecoins and wallets.
2. Complete verification. (if required) Many custodial services require ID verification for compliance.
3. Get your wallet address. Once logged in, navigate to your wallet dashboard and find the address for the stablecoin you want to use.
4. Fund your wallet. Buy or deposit stablecoins into your account.
Safety tips
- Never share your seed phrase or private key.
- Use hardware wallets for large balances or long-term storage.
- Enable 2FA on custodial platforms.
- Double-check networks and token names before sending. Sending to the wrong network can result in permanent loss.
Next steps
Once your wallet is set up and funded, you're ready to start using stablecoins on our platform.
- Head to Sending & Receiving to make your first transaction.
- Check out Understanding Fees to learn how transaction costs work.
- Visit Tips on Safety for more ways to protect your wallet and funds.
Need help integrating wallets into your app or workflow? Visit our Developer Docs or reach out to Support.