MCP Wallet

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Managing Wallets ​

Learn how to create, import, and manage wallets in MCP Wallet.

Understanding Wallets ​

What is a Wallet? ​

A crypto wallet consists of:

  • Seed Phrase (12 words) - Master key that generates all accounts
  • Private Keys - Keys that control individual accounts
  • Public Addresses - Addresses you share to receive funds

Wallet vs Account ​

Wallet: Container with one seed phrase Account: Individual address derived from wallet (can have many per wallet)

Wallet (1 seed phrase)
├── Account 1: 0xABC... (BNB: 1.5, USDT: 100)
├── Account 2: 0xDEF... (BNB: 0.3, USDT: 50)
└── Account 3: 0xGHI... (BNB: 2.1, USDT: 200)

Creating a New Wallet ​

Step-by-Step Guide ​

  1. Launch MCP Wallet

    • First time launch shows welcome screen

  2. Choose "Create New Wallet"

    • Click "Create New Wallet" button

  3. Set Password

    • Enter strong password (12+ characters)
    • Confirm password
    • Password encrypts your wallet on device
    • Required each time you unlock wallet

Password Security

  • Use at least 12 characters
  • Mix uppercase, lowercase, numbers, symbols
  • Don't reuse passwords
  • Store in password manager
  1. Backup Seed Phrase
    • Wallet generates 12-word seed phrase
    • Write down ALL 12 words in order
    • Store in secure location
    • NEVER share with anyone
    • NEVER store digitally

Critical Step

Your seed phrase is the ONLY way to recover your wallet. If you lose it, your funds are permanently lost. There is no "forgot password" or customer support that can help.

  1. Verify Seed Phrase

    • Enter words in correct order to verify
    • Confirms you wrote them down correctly

  2. Wallet Created!

    • Your first account is automatically created
    • Address starts with 0x...
    • Ready to receive and send funds

Seed Phrase Best Practices ​

DO ✅:

  • Write on paper (use pencil or permanent ink)
  • Store in fireproof/waterproof location
  • Make 2-3 copies in different locations
  • Consider metal backup for durability
  • Verify spelling against BIP39 word list

DON'T ❌:

  • Take screenshot or photo
  • Store in notes app, email, or cloud
  • Share with anyone (even support staff)
  • Enter on websites claiming to "validate" seed
  • Store unencrypted on computer

Seed Phrase Storage Ideas ​

Physical Storage:

  • Safe deposit box
  • Home safe
  • Split storage (words 1-6 one place, 7-12 another)
  • Given to trusted family member (in sealed envelope)

Advanced:

  • Metal backup plate (fireproof, waterproof)
  • Cryptosteel or similar device
  • Safety deposit box at bank

Importing Existing Wallet ​

Import from Seed Phrase ​

  1. Launch MCP Wallet

  2. Choose "Import Wallet"

  3. Enter Seed Phrase

    • Enter all 12 words in correct order
    • Words separated by spaces
    • Must be from BIP39 word list
    • Check spelling carefully

  4. Set New Password

    • This can be different from original password
    • Password only encrypts on THIS device

  5. Wallet Imported!

    • All accounts derived from seed phrase
    • Transaction history loaded from blockchain
    • Balances automatically fetched

Import from Private Key ​

(Advanced users only)

  1. Settings → Accounts → Import Account

  2. Choose "Private Key"

  3. Enter private key

    • 64 hexadecimal characters
    • With or without 0x prefix

  4. Set account name

  5. Account imported

    • Added to current wallet
    • Separate from seed phrase accounts

Private Key Import

Importing private key doesn't add it to seed phrase recovery. You must backup private key separately.

Managing Accounts ​

Creating Additional Accounts ​

  1. Settings → Accounts

  2. Click "Add Account"

  3. Choose account type:

    • Derived Account - From seed phrase (recommended)
    • Imported Account - From private key

  4. For Derived Account:

    • Automatically uses next index (Account 2, Account 3, etc.)
    • Recoverable with seed phrase

  5. Name your account (optional)

    • Example: "Savings", "Trading", "AI Assistant"

  6. Account created!

    • New address generated
    • Shows in account list
    • Can switch between accounts

Switching Accounts ​

Method 1: Account Dropdown

  • Click account selector in top bar
  • Choose account from list
  • View changes to selected account

Method 2: Settings

  • Settings → Accounts
  • Click account in list
  • Click "Switch to Account"

Renaming Accounts ​

  1. Settings → Accounts
  2. Click account to rename
  3. Click edit icon
  4. Enter new name
  5. Save

Viewing Account Details ​

  1. Settings → Accounts
  2. Click account
  3. View details:
    • Address
    • Balance (all tokens)
    • Transaction count
    • Account type (derived/imported)
    • Derivation path (for derived accounts)

Exporting Private Key ​

Security Warning

Never share your private key. Anyone with your private key can access ALL funds in that account.

  1. Settings → Accounts
  2. Click account
  3. Click "Export Private Key"
  4. Enter password
  5. Private key displayed
  6. Copy or save securely
  7. Click "Done" when finished

Use Cases:

  • Importing to another wallet
  • Using with web3 dApps
  • Creating backup

Account Organization Strategies ​

Strategy 1: Hot vs Cold ​

Hot Wallet (Daily Use)
- Account 1: "Trading" (API enabled, low balance)
- Small amounts for daily transactions
- AI access enabled with strict limits

Cold Storage (Long-term)
- Account 2: "Savings" (API disabled, high balance)
- Larger amounts for holding
- No AI access
- Rarely used

Strategy 2: Purpose-Based ​

- Account 1: "Main" - Primary account
- Account 2: "AI Assistant" - AI transactions only
- Account 3: "DeFi" - DeFi interactions
- Account 4: "Savings" - Long-term holding

Strategy 3: Risk-Based ​

- Account 1: "Test" - Testnet only
- Account 2: "Low Risk" - Small amounts, AI enabled
- Account 3: "Medium Risk" - Moderate amounts
- Account 4: "High Security" - Large amounts, no API

Multi-Wallet Management ​

Creating Multiple Wallets ​

MCP Wallet supports multiple wallets (each with separate seed phrase):

  1. Settings → Wallets
  2. Click "Add Wallet"
  3. Choose:
    • Create New Wallet
    • Import Existing Wallet
  4. Follow creation/import flow
  5. Wallet added to wallet list

Switching Wallets ​

  1. Settings → Wallets
  2. Click wallet in list
  3. Click "Switch to Wallet"
  4. Enter password if different
  5. View changes to selected wallet

Use Cases for Multiple Wallets ​

Personal vs Business:

  • Wallet 1: Personal finances
  • Wallet 2: Business transactions

Testing vs Production:

  • Wallet 1: Testnet experiments
  • Wallet 2: Mainnet funds

Different Security Levels:

  • Wallet 1: Hot wallet (daily use)
  • Wallet 2: Cold wallet (long-term storage)

Backup and Recovery ​

What to Backup ​

Essential (Required for recovery):

  • ✅ 12-word seed phrase
  • ✅ Password (stored separately)

Optional (Convenience only):

  • Account names
  • Transaction labels
  • Settings/preferences

Only Seed Phrase Matters

Everything except seed phrase can be recreated. Focus on securing your seed phrase above all else.

Recovery Scenarios ​

Scenario 1: Forgot Password

  1. Re-import wallet with seed phrase
  2. Set new password
  3. All accounts and funds restored

Scenario 2: Lost Device

  1. Install MCP Wallet on new device
  2. Import wallet with seed phrase
  3. All accounts and funds restored

Scenario 3: Corrupted Database

  1. Delete wallet data
  2. Re-import wallet with seed phrase
  3. Accounts restored (history reloaded from blockchain)

Scenario 4: Lost Seed Phrase (Wallet Unlocked)

  1. Open MCP Wallet
  2. Settings → Security → Show Seed Phrase
  3. Enter password
  4. Write down seed phrase NOW
  5. Store securely

Scenario 5: Lost Seed Phrase (Wallet Locked)

  • ❌ No recovery possible
  • Funds permanently inaccessible
  • This is why backup is critical

Testing Recovery ​

Test your backup:

  1. Write down seed phrase
  2. Import wallet on different device (or testnet)
  3. Verify all accounts appear
  4. Verify balances match
  5. Delete test wallet
  6. Keep original wallet

Test Recovery Early

Test your seed phrase recovery BEFORE you need it. Better to find issues now than during emergency.

Removing Accounts ​

Delete Derived Account ​

Cannot Recover Easily

Deleting derived account removes it from UI, but it still exists on blockchain. You can re-add it later by importing seed phrase.

  1. Settings → Accounts
  2. Click account to delete
  3. Click "Remove Account"
  4. Confirm deletion
  5. Account removed from list

To Restore:

  • Re-import wallet with seed phrase
  • All derived accounts will appear

Delete Imported Account ​

Backup Private Key First

Imported accounts are NOT recovered from seed phrase. Backup private key before deleting!

  1. Export private key (Settings → Accounts → Export)
  2. Save private key securely
  3. Remove account (Settings → Accounts → Remove)
  4. Confirm deletion

To Restore:

  • Import using private key

Removing Wallets ​

Delete Wallet ​

Backup Seed Phrase First

Deleting wallet removes all data. Make sure you have seed phrase backed up!

  1. Settings → Wallets
  2. Click wallet to delete
  3. Click "Remove Wallet"
  4. Enter password
  5. Confirm deletion
  6. Wallet and all accounts removed

To Restore:

  • Re-import wallet using seed phrase

Advanced Features ​

Custom Derivation Paths ​

(Advanced users only)

Default path: m/44'/60'/0'/0/{index}

To use custom path:

  1. Settings → Advanced → Custom Derivation Path
  2. Enter BIP44 path
  3. Generate account

Use Cases:

  • Import accounts from other wallets using different paths
  • Hardware wallet compatibility

Watch-Only Accounts ​

(Coming soon)

Monitor addresses without private key:

  • View balance
  • View transactions
  • Cannot send funds

Multi-Signature Accounts ​

(Coming soon)

Require multiple signatures to send:

  • Enhanced security
  • Shared account management
  • Business use cases

FAQ ​

Q: How many accounts can I create? A: Unlimited. Each wallet can derive unlimited accounts from seed phrase.

Q: Can I use same seed phrase on multiple devices? A: Yes, but be careful. Changes on one device don't sync to others.

Q: What happens if I delete an account? A: Account removed from UI but still exists on blockchain. Can be restored by re-importing wallet.

Q: Can I change my seed phrase? A: No. Seed phrase is permanent. To change it, create new wallet and transfer funds.

Q: Do all accounts share the same seed phrase? A: Derived accounts share seed phrase. Imported accounts have separate private keys.

Q: How do I know which account AI is using? A: Check Settings → Accounts → API enabled for which account.

Q: Can I have different passwords for different accounts? A: No. Password is per-wallet (all accounts in wallet share password).

Q: What's the difference between derived and imported accounts? A: Derived accounts come from seed phrase (recoverable). Imported accounts use separate private keys (must backup separately).

Next Steps:

MCP Wallet - Secure crypto wallet with AI integration

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