Understanding Wallets

Learn what a wallet is and what tools you need to make one, use one, and keep one safe.

What is a wallet?

Like a traditional wallet holds cash, crypto wallets hold your cryptocurrency. Crypto wallets allow you to store your crypto, send crypto, and receive crypto.

Think of it like a personal checking account with two sets of keys: a private key and a public key.

Public Key vs. Private Key

A public key serves as the address used to send crypto to the wallet. Think of it like a routing number. You can share this with people so they know they are sending money to the right place.

A private key is meant for your eyes only. It allows direct access to your cryptocurrency wallet - like a bank account password. You should not share this with anyone.

What is a community wallet (or DAO wallet)?

Each DAO has it’s own wallet. It is called a “community wallet”.

All collected funds are stored in the DAOs community wallet instead of being at the disposal of a single individual. Using a community wallet is how members: 1, share their capital and 2, ensure every member has equal rights to that shared capital. Each member will use their public key to transfer funds into the DAOs community wallet.

Powering the new ownership economy.

Built on Solana.