Wallet Management
      Back to home
      1. Knowledge base
      2. Account Management
      3. Wallet Management

      Creating and managing a digital wallet

      A digital wallet is an account that allows investors to send, receive, and store their digital assets securely. You can bring your own digital wallet to HoneyBricks, or use a custodial one on the platform.

      What is a digital wallet?

      A digital wallet is a service that allows individuals to interact with blockchain technologies.

      HoneyBricks uses blockchain behind the scenes to provide greater access, efficiency and transparency for investors in commercial real estate. 

      You do not need a wallet to invest on the HoneyBricks platform.

      What options do I have for a digital wallet?

      Investors on the platform can either:

      1. Use a custody wallet where we create the wallet for you and you can access through your account. You can take control of this wallet at any time.
      2. Self-custody their their assets by connecting one that you already own.

      To make your selection, you can select Connect Digital Wallet  on your Portfolio widget on your dashboard.

      You'll then see a pop-up modal which will give you the following options.

      If you decide to use the custodial option, you'll see a confirmation page that confirmations the address of the digital wallet created and connected to your account.  

      We encourage you to save this address, although you can retrieve it at any time from your HoneyBricks account.

      If you decide to invest in an offering on the HoneyBricks platform without a connected wallet, we'll automatically create a digital wallet for you and connect it to your account.

      How do digital wallets work technically?

      The way digital wallets work technically is by using a combination of encryption and software to store information about your digital assets, and allow you to access and manage them through a user interface.

      The digital wallet generates a unique public address and private key for you to receive and store your assets, and uses algorithms to securely manage the transaction process.

      Transactions are recorded on a blockchain network, providing transparency and security, and the wallet software communicates with the blockchain network to carry out transactions on your behalf.

      How can I set-up a wallet if I want to self custody?

      Wallets come in many forms, from hardware wallets like Ledger (which looks like a USB stick) to mobile apps like MetaMask and Coinbase Wallet.

      Setting up a wallet takes less than five minutes, and once connected to your HoneyBricks account - allows you to self-custody your own digital assets.

      Let us know if this article was helpful below.