What Is a Wallet

A crypto wallet is how you hold and manage digital assets on the blockchain. It is your account for cryptocurrency and tokens.

How Wallets Work

A wallet has two parts:

Public Address: Like an email address. You share this to receive funds. Anyone can see it. Example: 0x1234...abcd

Private Key: Like a password. Never share this. Whoever has it controls the wallet. Lose it and you lose access to everything in the wallet.

When you send or receive crypto, you are not moving files around. You are updating the blockchain's record of who owns what. Your wallet is simply the key that proves you own your assets.

Types of Wallets

Embedded Wallets

Created automatically when you sign up for a service. OpenHouse uses Privy to create embedded wallets. You do not need to install anything or manage keys directly. Your login credentials secure the wallet.

This is what most OpenHouse users have.

Browser Extension Wallets

Software you install in your browser, like MetaMask. You create and manage your own keys. More control, but more responsibility.

Hardware Wallets

Physical devices like Ledger or Trezor. Your private keys stay on the device and never touch the internet. Most secure, but less convenient.

Mobile Wallets

Apps on your phone. Convenient for everyday use. Security depends on the app and your phone's security.

Your Wallet on OpenHouse

When you sign up for OpenHouse, a wallet is created for you automatically via Privy. You can:

• View your wallet address in the app

• See your USDC balance

• See your property shares

• Export your private key if you want to use your wallet elsewhere

You do not need to understand the technical details. OpenHouse handles the complexity.

Wallet Security

What You Should Do

• Keep your login credentials secure

• Enable two-factor authentication if available

• Be cautious of phishing attempts

• Never share your private key with anyone

What OpenHouse Will Never Do

• Ask for your private key

• Ask you to send crypto to "verify" your wallet

• Contact you via DM asking for sensitive information

• Request remote access to your device

If You Lose Access

With an embedded wallet (what most OpenHouse users have), you can recover access through your login credentials. This is one advantage over self-managed wallets.

If you use an external wallet and lose your private key or seed phrase, there is no recovery. The funds are lost permanently. No one can help you, including OpenHouse.

Gas Fees

Normally, using a blockchain requires paying "gas" fees in the network's native currency (ETH on Base). OpenHouse covers these fees for you, so you only need USDC. You do not need to own ETH or understand gas to use the platform.