Crypto wallets
A crypto wallet holds the keys that control stablecoins. Wallets are either self-custodial or custodial.
Definition
A crypto wallet does not store coins. It stores the private key that proves who controls a blockchain address. Whoever has the key can move the funds, so how the key is kept decides who is in control.
Two types
- Self-custodial: the payee holds the private key or seed phrase, with full control and full responsibility1
- Custodial: an exchange or app holds the key for the payee, which is often easier to use and to convert to a bank account, but the payee depends on that provider1
Before sending a payout
- Confirm the wallet address and the blockchain network
- Screen the address against sanctions lists2
- Send a small test amount for a new, high-value payee
- Remember that the sender generally cannot reverse an on-chain transfer3
How Talentir helps
Creators connect their wallet in Talentir by signing a message once, then receive stablecoin payouts to it. See global payments
Related topics
What are stablecoins?
Stablecoins are digital tokens designed to keep a stable value, usually 1:1 with a currency like the US dollar or the euro, most often backed by reserves.
On-ramp and off-ramp
An on-ramp converts bank money into stablecoins. An off-ramp converts stablecoins back into money in a bank account.
AML (Anti-Money Laundering)
AML rules require financial companies, and some other businesses, to prevent, detect and report money laundering and terrorist financing.
Currency conversion (FX)
FX conversion changes money from one currency to another. The rate and the spread you get decide how much the payee receives.