STON.fi: The Ultimate Guide
  • How to use this guide and why stars
  • What is blockchain and cryptocurrency
  • What is DEX and how it works
  • What is a crypto wallet
  • How to create a TON wallet
  • Where to find your wallet address
  • How to connect your TON wallet to STON.fi
  • How to buy TON (Toncoin) in Telegram
  • How to swap (exchange) tokens on STON.fi
  • ★ Transaction parameters: what is price impact, exchange rate, blockchain fee, minimum received
  • ★ What is liquidity pool
  • ★ How to evaluate a liquidity pool (TVL, APR, trading volume)
  • ★ How to provide liquidity on STON.fi
  • ★ How to withdraw funds from a liquidity pool
  • ★ What is farming?
  • ★ How to farm on STON.fi
  • ★ How to withdraw funds from farming
  • ★ How to get referral fees from swaps?
  • ★★ Staking on STON.fi
  • ★★ Liquidity provision, farming, and staking — what's the difference?
  • ★★ Blockchain and DEX fees
  • ★★ Impermanent loss
  • ★★ How to create a new liquidity pool
  • ★★ How to add (import) your own token with a contract address
  • ★★ Liquidity pool types
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What is a crypto wallet

Learn about cryptocurrency wallets, focusing on non-custodial wallets for STON.fi DEX. Discover how to store, send, and receive crypto securely with private keys and seed phrases.

PreviousWhat is DEX and how it worksNextHow to create a TON wallet

Last updated 4 months ago

A cryptocurrency wallet is a service, application, or device where you can store cryptocurrency, send, and receive digital assets (cryptocurrency). There are even paper cryptocurrency wallets — write down private keys or a mnemonic (seed) phrase of 12 or 24 words on a piece of paper — and that will be your paper wallet! The main thing is not to lose it and not to show it to anyone: whoever owns the keys or the mnemonic phrase, owns the wallet and can manage all the assets on it.

Wallets come in different types, but in the context of discussing DEX, we are interested in these two:

  • Custodial. Wallet keys are stored by a third-party company. To create such a wallet, you usually need to go through the KYC (Know Your Customer) procedure — confirm your passport details. In fact, your custodial wallet is not yours but belongs to the service where you created it. An example of a custodial wallet is your wallet on a centralized exchange. Whether it's good or bad — you decide, but on DEX, you can only work with non-custodial wallets.

  • Non-custodial. They are also known as self-custodial. Here, you maintain complete anonymity and manage the wallet yourself. The keys to your wallet are generated from a seed phrase that only you know. Such a phrase looks like 12 or 24 random words written in a specific order.

For operations on a decentralized platform, such as STON.fi DEX, you will need a non-custodial wallet. It's extremely .

easy to create