Smart Contract Wallet
A crypto wallet controlled by code on a blockchain, enabling programmable features like recovery, spending limits, and multi-user approvals.
Smart contract wallets matter because they can make wallet use more flexible and safer for many people and organizations. Common features include social recovery, transaction limits, approvals from multiple devices or people, and bundled transactions that reduce manual steps. For example, instead of losing access forever if one seed phrase is lost, a smart contract wallet may let trusted “guardians” help recover the account. The trade-off is that users rely on the wallet’s code and the network it runs on, so bugs, upgrade settings, and fees still matter.
Other terms in Wallets & Security
Address Poisoning
A wallet scam where attackers plant lookalike addresses in your transaction history so you might copy the wrong recipient later.
Approval Phishing
A scam that tricks users into granting a malicious wallet or smart contract permission to spend tokens from their wallet.
BIP-39
A standard for turning wallet backup data into a human-readable seed phrase, usually 12 or 24 words.
Crypto Wallet
A tool that stores and manages the private keys needed to access and use cryptocurrency on a blockchain.