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What is a "wallet"? Why do I need one?
What is a "wallet"? Why do I need one?

5 minutes to enter tomorrow's finance.

Updated over a week ago

A wallet is a small piece of software anyone can use to create a blockchain address and make transactions. They save us the trouble of typing complicated mathematical formulas, as everything is done in just two clicks.

Wallets work in much the same way. You receive 12 to 24 secret words that generate a blockchain address and a private key.

Your blockchain address is like a bank account number: it's where you receive your "on-chain" assets.

These "crypto" addresses always start with 0x... (Ethereum standard).

Please look at the Ethereum website to see what creating a blockchain address is like. Here is an example from Rabby: it just takes 2 minutes.

Never take a photo or record your secret phrase on an electronic device. Please write it down and keep it safe.

3 Types of Wallet

Hots Wallets

These are free "Wallets" on phones or browser plug-ins such as Chrome, Safari, Brave, etc... The best-known is Metamask, which has been around for many years. Rabby is currently the most suitable solution for beginners. We also have the RealT Wallet application co-created by RealT for the phone.

Cold Wallets

Here, blockchain addresses are created on physical devices not connected to the internet. They require validation on physical buttons for each transaction and reinforce the security of your on-chain assets.

The best-known are Ledger and Trezor, and you need to buy them.

Multi-sig contracts

These contracts allow you to add security rules to your transactions. The best-known is Safe Account, which is free. You need a blockchain address or a Ledger/Trezor to create a Safe Account.

Understanding Wallets

Wallets are like credit cards if blockchain addresses are the equivalent of your bank account number for receiving your on-chain assets. You interact with the blockchain, but your assets aren't on the wallets; they're on your blockchain address.

Just as your money is not on your bank card but your bank account. Wallets are simply interfaces.

Wallets are tiny programs that perform powerful cryptographic calculations to generate a blockchain address and its unique key. There are billions upon billions of combinations, making it impossible to stumble upon the same address by chance.

The private key is usually stored in the program/device where the secret phrase was entered. That's why "Wallets" only work on the devices where they've been installed and don't communicate with each other. You can't download a Metamask to another device hoping to get the same address. Keeping the 12/24-word phrase to recover to the blockchain address is imperative.

Wallets used with RealT

RealT delivers RealTokens and rents on Gnosis and Ethereum. You can find a list of all compatible wallets on Gnosis here:

We recommend using Rabby/Metamask to get started. It is important to use a Ledger/Trezor and/or a Safe account to improve the security of your on-chain assets as soon as the amount invested makes it required.

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