With an Ottr wallet, you are entering a new world where the limits of traditional banking no longer apply. Instant transfers. Save in USDC from anywhere in the world.
Here are the steps to get started:
1. Download the app and create an account
2. Understanding the types of Wallets
By default, you will have a ‘Checking’ and ‘Savings’ Wallet. You can switch between these using the Wallet drop-down at the top.
‘Checking’ wallet for payments: Your ‘Checking’ wallet is set as the Public Wallet, which means your identity (such as Ottr name) and this wallet’s transactions will be visible to other Ottr users. (see How to set a wallet as the Public wallet?)
‘Savings’ wallet for non-public transactions: Transactions using non-Public wallets will not show your identity (such as Name or Ottr Name).
3. Transfer money into your ‘Checking’ Wallet using the 'Add Funds' feature. The funds can be added in a few different ways:
- Using providers like MoonPay, Kado, or Coinbase: Ottr has partnered with 15+ on/off-ramps providers across the world, to help with crypto <> fiat (eg. USDC <> USD) conversion. For the optimal experience with the lowest fees, we suggest choosing one of these options.
- Transfer from other wallets: You can move funds from wallets you already have, like Phantom or Solflare, by just tapping "Send" on those wallets and entering the Ottr Checking address. You can quickly copy this address from the Ottr app.
- Using Centralised Exchanges: You can preload USDC into your Coinbase or Binance account (see How to deposit using transfers) and then transfer your USDC into the Ottr wallet.
4. Buy or Send some crypto:
0% fees: You won't be charged any transaction fees for up to 25 transactions per day. Ottr is one of the very few wallets to enable 'gasless transfers'.
5. Make sure Backups are working
Ensuring that your Backups are functional will eliminate the necessity of memorizing or storing your secret keys in an insecure location like a note-taking app. This will also enable you to recover access to your wallet if it's lost.
To verify this, navigate to Wallet drop-down > Settings > Backup
6. Learn how to keep your wallet safe