Wallets vs Vaults – which are better?

The Vault12 app is an intelligent digital vault that knows how to back up and support inheritance of your digital assets like passwords, PINs, seed phrases, private keys, files associated with your NFTs, and digital artwork. It safeguards basically everything that you know and love in the world of Web3.

What is the difference between a Wallet and a Vault?

One of the questions that we hear a lot is “What’s the difference between a wallet and a vault?”

Basically, a wallet is initialized using a seed phrase or a private key, interacts with a blockchain, and allows you to send and receive, buy and sell cryptocurrency. It enables you to sign transactions on the blockchain, authorizing their execution.

So a wallet is used to perform a lot of transactions and interactions with the blockchain.

A Vault, on the other hand, is completely inert. It’s completely separate from your blockchain activity. There are no transactions going on. It’s simply a place to store valuable things like seed phrases, passwords, private keys, and digital art.

So a Vault is completely different from a wallet.