What does self custody mean for me?
Self custody means the keys to your funds exist only on your phone, protected by your recovery phrase. Nobody can freeze or move your funds, and nobody can recover them for you if you lose the phrase.
When you create a wallet, XRP Mobile generates a private key on your phone and shows you a 12 word recovery phrase that can regenerate it. That phrase is the wallet. Your funds live on the XRP Ledger and the multichain layer, and the phrase is what proves they are yours.
What that gives you
- Nobody can freeze your account, reverse your payments or move your funds.
- You can restore the same wallet in XRP Mobile on any phone, or in any other wallet that accepts a 12 word phrase.
- We never see your keys, your phrase or your PIN.
What it asks of you
- Write the phrase down, on paper, and keep it somewhere a thief and a fire cannot reach. Not a screenshot, not a note on your phone.
- Never type it anywhere except into a wallet you are restoring, and never share it with anyone. Anyone who has it has your funds.
- Accept that if the phrase is lost and the phone is gone, nobody can bring the wallet back. Not you, not us.
The PIN and Face ID protect the app on this phone. They are not a backup.
What is a destination tag?
A number that exchanges and services attach to your deposit so they know which customer the XRP belongs to. It is only needed when the recipient asks for it, and getting it wrong means the exchange has to recover the deposit.
What is the base reserve?
Every XRP Ledger account must keep 1 XRP on the ledger to exist. It is not a fee and nobody takes it; it is locked while the account exists, and the app shows your balance with it already deducted.