PayProtocol Card
  • PayProtocol Card
  • Crypto Basics (for Card Users)
    • What is Paycoin (PCI)?
    • How Crypto Payments Work
    • What is a Wallet?
    • Blockchain vs Traditional Finance
    • Why Use Crypto for Payments?
  • Using Your Card
    • How to Create Wallet?
    • How to Deposit PCI to Wallet
    • How to Withdraw PCI from Wallet
    • How to Top-Up with PCI
    • How to View Transaction History
    • How to Wrap PCI (Paycoin → Arbitrum)
    • Step-by-Step Video Guides
  • Linking to Mobile Payments
    • How to Link Your Card to Mobile Wallets
    • Troubleshooting Wallet Linking
  • Security & Card Management
    • Is My Card Secure?
    • Lost or Stolen Card Guide
  • Account & App Settings
    • How to Customize Wallet Display
    • How to Change Language and Currency Settings
    • How to Check Balance
    • Manage Your Address Book
    • Notification Settings
  • Legal & Compliance
    • Terms of Service
    • Privacy Policy
  • Support
    • How to Contact Support
Powered by GitBook
On this page
Export as PDF
  1. Crypto Basics (for Card Users)

What is a Wallet?

What is a Wallet?

A cryptocurrency wallet is a digital tool that allows you to store, send, receive, and manage your crypto assets, including Paycoin (PCI).

Unlike a physical wallet that holds cash, a crypto wallet holds private keys — digital signatures that prove ownership of your coins. You use these keys to authorize transactions on the blockchain.

🔹 Types of Wallets

  • Hot Wallets: Connected to the internet (e.g., mobile apps, browser extensions). Easy to use, but slightly more vulnerable to hacking.

  • Cold Wallets: Offline storage (e.g., hardware wallets like Ledger). Best for long-term or high-value storage.

  • Custodial Wallets: Managed by a service provider (e.g., exchanges).

  • Non-Custodial Wallets: You hold the private keys — full control, but more responsibility.

🔹 PayProtocol Wallet Structure

In the PayProtocol app, two types of wallets work together:

  • EOA (Externally Owned Account) Wallet: Used only for signing purposes and can be recovered with a recovery phrase (mnemonic).

  • SCW (Smart Contract Wallet): Where your actual assets are stored and all economic activities take place.

Important: When recovering using a recovery phrase (mnemonic) in external wallet apps, only the EOA wallet will be recovered, while the SCW wallet and its assets will NOT be recovered. Always proceed with recovery through the official PayProtocol app.

🔹 Compatible Payment Methods

PayProtocol Card is designed to work with popular digital wallets including:

  • Google Wallet: Seamless integration for Android users

  • Apple Pay: Quick and secure payments for iOS users

  • WeChat Pay: Support for users on the WeChat ecosystem

  • Alipay: Integration with China's leading payment platform

🔹 Wallet & PayProtocol Card

To use your PayProtocol Card:

  • You first store PCI in a compatible wallet.

  • Then, you link your wallet to your PayProtocol Card account.

  • PCI from the wallet can be topped up to the card for real-world usage.

💡 Important: Always back up your wallet recovery phrase or private key in a secure location. Losing this means losing access to your funds permanently.

PreviousHow Crypto Payments WorkNextBlockchain vs Traditional Finance

Last updated 2 days ago