<aside> 💡 Before you start using the Cosmostation app wallet, it's important to understand a few things related to cryptocurrency wallets. This section introduces key things you should know before using the wallet.

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1. What is a non-custodial wallet?

Cosmostation Wallet is a non-custodial (decentralized) wallet. Non-custodial wallets do not rely on a central authority and allow users to manage their own secret keys, such as mnemonics or private keys. This gives users full control over their assets and allows access from anywhere in the world as long as they have internet connectivity.

• Usage precautions: While non-custodial wallets are critical tools for maintaining control over blockchain assets, the responsibility for security rests entirely with the user. It is essential that users manage their own secret keys, such as mnemonics or private keys. If these are not securely stored, you could permanently lose access to your assets.

2. What is a mnemonic?

A mnemonic is a seed phrase composed of 12 to 24 words that makes it easier for users to remember and record, used for recovering a wallet and its private keys. Typically generated when setting up a wallet for the first time, the mnemonic allows users to access the same wallet from any device.

Key features and usage

• Maintain security: The mnemonic should be stored securely and privately, preferably written on paper and kept in a safe physical location rather than stored digitally to avoid hacking risks.
• Recovery tool: If your wallet is damaged or you lose access to your device, the mnemonic can be used to regain access to your assets.
• Never share it: Do not share your mnemonic with anyone. If others gain access to it, they can completely control the assets in your wallet.

3. What is a Private Key?

A private key is an encryption key vital for controlling a user's digital assets on the blockchain network. Each blockchain address has a unique private key that proves ownership and authorizes transactions.

Mnemonics include seed information that can generate all private keys for a crypto wallet. Private keys generated from a mnemonic can access multiple addresses and accounts, whereas the original mnemonic cannot be recovered or verified from a private key. This is because the mnemonic operates as a more comprehensive concept than the private key. Therefore, when you create a wallet with a mnemonic, it is crucial to back up the mnemonic, not the private keys.

Private keys are also crucial for managing your assets and must be managed as securely as mnemonics.

4. Understanding Transaction Fees

Transaction fees occur every time a transaction is executed on a blockchain network. These fees are necessary for processing transactions and maintaining the network, supporting the operational costs of the blockchain. Fees are automatically calculated by the wallet and are deducted directly from the user's assets, according to the policies set by each blockchain.

Transaction fees are determined by: