What is a Non-Custodial Wallet?
A non-custodial wallet is a type of cryptocurrency wallet that does not require you to entrust your private keys to a third party for safekeeping. With a non-custodial wallet, you control your private keys and have complete ownership over your funds. The significance of a non-custodial wallet lies in the increased security it provides, as your funds are not stored on a centralized server that could be vulnerable to a hack or theft.
Components of a Wallet
A non-custodial wallet typically has three main components: a public key, a private key, and a recovery phrase.
Public Key
Also referred to as your wallet address, the public key is a string of characters that is used to receive funds in your wallet. It can be freely shared with others, as it does not pose any security risk.
Note: As Frontier is a multi-chain wallet, your wallet address/public key may differ from chain-to-chain. Always remember to double check your public key before using it to receive funds.
You can get your wallet public key from both Frontier wallet mobile app and web extension by following these steps:
Mobile App:
Click on the chain dropdown on the top-left corner of your screen and navigate your desired chain.
Once you select a chain, you can copy the associated wallet address / public key by clicking on copy doc symbol next to Copy Address.
Alternatively, you can get the public key for an active chain by clicking on Receive from the quick action buttons underneath your wallet balance.
Your public key will be copied and can be used in transactions.
Extension:
Click on the toggle option and select your desired chain in Frontier extension.
After you select your chain, you can copy wallet address/ public key by clicking on copy doc symbol just below the wallet name.
Alternatively, you can get the public key for an active chain by clicking on Receive from the quick action floating buttons at the bottom of the extension screen.
Your public key will be copied and can be used in transactions.
Private Key
The private key is a secret code that is used to access and control your funds. It must be kept confidential, as it gives full access to your funds. By integrating WalletConnect, Frontier ensures that private keys remain safe and confidential, eliminating the need for users to enter their private key every time they perform a transaction.
Recovery Phrase
Recovery Phrase, sometimes also referred to as the mnemonic phrase, is a series of words that can be used to recover your wallet and access your funds if you ever lose your private key.
There are several types of recovery phrases available, such as 12 words, 15 words, 18 words, and more. Frontier follows the standard of using a 12-word recovery phrase, ensuring the highest level of security for its users.
It is essential to keep your recovery phrase confidential and secure by storing it in a safe location and avoiding sharing it with anyone.