Wallet

What Is a Spell Wallet?

The Spell Wallet is a core feature of the Spell system. It is primarily used to create and manage addresses and Receiving Cards*- for receiving cryptocurrency transfers. Spell Wallets support two types of addresses:self-custody addresses- and custodial addresses. Once a card is successfully configured, it becomes a **Receiving Card- that can be linked to an order to receive cryptocurrency transfers.

Address Types

Self-Custody Addresses

• The user manages their own private keys and mnemonic phrases and only imports the public key information into the system for collection purposes.
• Suitable for users who have a solid understanding of blockchain technology.
• Users are fully responsible for the security of the assets in their account.

Custodial Addresses

(not yet supported)

• The Spell system generates the collection-related information, and users do not need to handle underlying details like private keys.
• Suitable for users with limited knowledge of blockchain technology or those who prefer not to manage the risk of private keys.
• Users can transfer assets out of the card at any time, but a corresponding transaction fee will apply.

Receiving Cards

After an address is imported or created, it becomes a usable *Receiving Card- by configuring the following information:

• Alias: A user-defined name for the card, making it easy to identify different use cases.
• Blockchain: Specifies the blockchain network for receiving payments (supports only one network per card).
• Currency: Specifies the cryptocurrency that can be received (supports multiple currencies).
• Address: The wallet address for receiving transfers.
• Note: (Optional) A custom note can be added by the user.

*A Receiving Card in the Spell Wallet can be considered an encapsulation of specific collection information.- When creating an order, users can directly select a pre-configured Receiving Card. This streamlines the process and reduces the risk of manual input errors.

Users can create multiple Receiving Cards based on different blockchains, currencies, and *addresses- to meet diverse collection needs. For example, multiple cards can be created for the same address, each for receiving payments on a different blockchain or with a different cryptocurrency.

Note: It is not permitted to create duplicate cards with the exact same blockchain, currency, and address.

Supported Blockchains and Currencies

Spell Wallet currently supports the following blockchain networks and currencies. Items without a checkmark are coming soon.

Mainnets

• Ethereum
  • Multicoin
  • USDT
  • USDC
• Binance Smart Chain
  • Multicoin
  • USDT
  • USDC
  • DAI
  • LINK

Testnets

The following test networks are also supported for you to use for testing:

• Binance Smart Chain Testnet
  • Multicoin
  • BTCB
  • USDT
  • USDC
  • LINK