Difference between “Wallet” and “Address”

Blockchain — something, that you don’t understand!

Transactions — something, that happens in the Blockchain between Addresses.
Send, Receive, Delegate, Redelegate, Claim Reward — all of it are Transactions! Transactions in the Blockchain. Not in the Wallet!

Address — it’s inside of Blockchain. Not in Wallet! Not on a Paper!
Address in the Blockchain!

Seed (or Mnemonic) — it’s a unchangeable password of your Address. You keep it on a Paper, or in the Wallet. Your Seed (or Mnemonic) not in the Blockchain.

Paper — the most safity place to keep your Seed (or Mnemonic). Paper not in the Blockchain!

Wallet — application for keeping your Seed (or Mnemonic). Not so safity like a Paper. Wallet is not in the Blockchain!

Wallet keeps your Seed (or Mnemonic), and gives you access to your Address.
If you have access to your Address, you can Send or Delegate from your Address.
You Send or Delegate from your Address, not from your Wallet!
You can’t Send or Delegate from your Wallet!

You can have a lot of Addresses.
One Address — one Seed (or Mnemonic).
Where are you keep your Seed (or Mnemonic)?
On a Paper, or in your Wallet. Not in the Blockchain!

You can have a lot of Wallets: Cosmostation, Trust, Atomic, Lunie, Kepler
Can you keep one Seed (or Mnemonic) in several Wallets?
Of course, YES! You can keep one Seed (or Mnemonic) in Cosmostation, Trust, Atomic, Lunie and Kepler, in a one moment!

What if you keep one Seed (or Mnemonic) in several Wallets?
All Wallets will give you access to one Address.
Address in the Blockchain, not in the Wallet!
Seed (or Mnemonic) in the Wallet, not in the Blockchain.

If something happens with your Wallet, what will be with your Address?
NOTHING! Your Address in the Blockchain! Your Address is indestructible!
You just need to import your Seed (or Mnemonic) to another Wallet. And new Wallet will give you access to old Address in the Blockchain.

If something happens with your Seed (or Mnemonic)? For example, somebody will know it. What will be?
Somebody will import your Seed (or Mnemonic) to any Wallet, and will get access to your Address.
Becase you Address not in your Wallet, but in the Blockchain!

Can you Send or Delegate from your Wallet?
Of course, NO! You can’t Send or Delegate from your Wallet!
With your Wallet, you get acess to your Address, and after, you Send or Delegate from your Address not from your Wallet.

Can you Receive airdrop to your Wallet?
Of course, NO! You can’t Receive airdrop to your Wallet!
You can Receive airdrop to your Address. Your Wallet can’t Receive any Transactions!
Your Wallet just keeps your Seed (or Mnemonic), to give you access to your Address. And your Address in the Blockchain! And Transactions in the Blockchain, too! Transactions not in the Wallet!

What does it mean for you?
If you Delegate from your Trust Wallet, it means, that you also Delegate from your Cosmostation Wallet, and from Atomic Wallet, and from Lunie, and from Kepler!
You just still don’t upload another Wallet, and don’t import your your Seed (or Mnemonic) to another Wallet!
But when you will import your mnemonic from Trust Wallet to Cosmostation Wallet, you will see, that you Delegate from your Cosmostation Wallet, too!
Because you Delegate not from your Wallet, but from your Address!

IF YOU STILL DON’T UNDERSTAND, READ THIS:

Let’s imagine a bank. And this bank produce money.
There are many different banks and each bank produces different money:

  • Bank of America produces dollars.
  • Bank of Russia produces rubles.
  • Bank of Korea produces wons.

To use dollars, you need to create an account in Bank of America.
To use rubles, you need to create an account in Bank of Russia.
To use wons, you need to create an account in Bank of Korea.

When you open a bank account, you will get a bank card that has a PIN-code.

If you have a card of Bank of America, you can use dollars, but you cannot use rubles or wons. To use rubles or wons, you need to open accounts in banks of Russia and Korea, and get cards from banks of Russia and Korea.

All cards are different and all cards have different PIN-codes!
Can I send rubles to a bank account in Korea? No!
Bank of Korea account only accepts wons. In order to receive and send rubles, you need an account in Bank of Russia.

Is your money on the card? No!
The money is in a bank account. A card with a PIN-code gives you access to your bank account.
What happens if somebody steals your card of Bank of America?
Somebody will be able to use money from your account in the Bank of America.
Will Somebody be able to use the money in the Korean bank account? No.
To use money from an account in Bank of Korea, you must have a card of Bank of Korea.

Where do you keep all your cards?
In the wallet.

Can I send money to my wallet? Of course not!
The wallet is used to store cards.

Can you send money from your wallet? No!
The wallet cannot send or receive money!
The wallet is used to store cards!

Can you have several wallets? Of course, you can!
You can have two, three, or five wallets.

Can you store cards in different wallets? Sure!
You can easily replace a card from one wallet to another.

If you understand what is the difference between “bank account”, “card” and “wallet”, then you will understand the following:

There are many different Blockchains. Each blockchain has its own cryptocurrency:

  • In the Bitcoin blockchain — $BTC
  • In the Ethereum blockchain — $ETH
  • In the Cosmos blockchain — $ATOM

To use $BTC, you need to create an address on the Bitcoin blockchain.
To use $ETH, you need to create an address on the Ethereum blockchain.
To use $ATOM, you need to create an address on the Cosmos blockchain.

When you create an address on the blockchain, you are given a seed phrase (or mnemonic) — these are 12, 16 or 24 words in a specific order.

If you have an address on the Bitcoin blockchain, you can use $BTC, but you cannot use $ETH or $ATOM. To use $ETH or $ATOM, you need to create addresses in the Ethereum and Cosmos blockchains, and get the seed phrases of these addresses.

All addresses are different, and all addresses have different seed phrases!

Can I send $ETH to an address on the Cosmos blockchain? No!
The address in the Cosmos blockchain only accepts $ATOM. In order to receive and send $ETH, you need an address on the Ethereum blockchain.

Your cryptocurrency is located at the address. The address is on the blockchain. A seed phrase gives you access to an address on the blockchain.

What happens if somebody steals a seed phrase of your address on the Bitcoin blockchain?
Somebody will be able to use $BTC from your address on the Bitcoin blockchain.

Will he be able to use $ATOM from your address on the Cosmos blockchain? No.
To use $ATOM from an address on the Cosmos blockchain, you must have a seed phrase (mnemonic) of the address on the Cosmos blockchain.

Where do you keep seed phrases (mnemonics) from all your addresses?
In the wallet.

Also, you need to keep your seed phrase on a paper, in order if somethig happens with your wallet. Better on two different papers in different places!

Can I send cryptocurrency to my wallet? Of course not!
The wallet is used to store the seed phrase (mnemonic) from the address.

Can you send cryptocurrency from your wallet? No!
The wallet cannot send or receive cryptocurrencies!
The wallet is used to store seed phrases (mnemonics) from addresses!

Can you have several wallets? Of course, you can!
You can have two, three, or five wallets.

Can you store seed phrases (mnemonics) from addresses in different wallets? Sure!
You can easily import a seed phrase from one wallet to another.

I hope, this instruction helped you to understand Blockchain better. If not — reread it again, until you understand!

From Internet, with love!
Your dear friend, Vladimir Ponimajushij!