What is the Web 3 Wallet?
The Web 3 Wallet is a self-custodial USDC wallet inside your Bancoli account. It lets you send and receive USDC across five blockchain networks — with zero gas fees. Because it is self-custodial, you control your private keys; Bancoli never has access to them.
How is my wallet protected?
Your wallet is secured by Coinbase two-factor authentication (2FA) — separate from any Bancoli password or OTP. You set up Coinbase 2FA the first time you open your Web 3 Wallet, and every outgoing transfer requires 2FA approval.
Security layer | What it protects |
|---|---|
Coinbase 2FA | Every outgoing USDC transfer — this is the primary security boundary |
Email verification | Account-level access to Bancoli (required before wallet is visible) |
Self-custody | Your private keys are never stored or accessible by Bancoli |
Best practices to keep your wallet safe
Enable a strong 2FA method — Use an authenticator app (e.g., Google Authenticator, Authy) rather than SMS when setting up Coinbase 2FA.
Never share your recovery phrase — If Coinbase provides a recovery phrase for your wallet, store it offline in a secure location. Bancoli and Coinbase support will never ask for it.
Verify addresses before sending — Always double-check the recipient's wallet address before confirming a transfer. Blockchain transactions are irreversible.
Send a small test amount first — When sending USDC to a new address for the first time, transfer a small amount to confirm the address is correct.
Select the correct network — Sending USDC to the wrong network can result in permanent loss of funds. Confirm the recipient's network matches the one you selected.
Keep your Bancoli account secure — Use a strong, unique password for your Bancoli account and do not reuse it on other sites.
Be cautious of phishing — Bancoli will never ask you to share your wallet address, private key, or 2FA codes via email, chat, or phone.
What happens if I suspect unauthorized access?
Change your Bancoli password immediately.
Revoke Coinbase 2FA and re-enable it with a new device if you believe your authenticator has been compromised.
Contact Bancoli support — our team can help investigate and secure your account. Note: because the wallet is self-custodial, Bancoli cannot reverse on-chain transactions.