NEAR Wallet Guide: Implicit Accounts, Storage and NEAR Fees

NEAR accounts: implicit vs named

NEAR has two kinds of account ID. A named account looks like alice.near and must be created by a transaction on chain. An implicit account is simply your public key written as 64 lowercase hexadecimal characters, with no prefix. Keylo uses an implicit account derived on m/44'/397'/0', the standard NEAR path, so the address Keylo shows is your public key.

An implicit account does not exist on chain until it first receives NEAR. That first deposit creates the account and attaches your key as a full-access key, which is the key Keylo uses to sign. Once it exists, the account works like any other. Named accounts are a convenience layer on top of the same system; Keylo works with your implicit account and does not create named accounts.

Every NEAR account can also hold several access keys. A full-access key can do anything, including adding or removing other keys, while a function-call key can only call specific contracts with a limited gas allowance, which is how apps let you play without approving every click. Keylo signs with the full-access key derived from your phrase, which is exactly why the phrase must stay private.

Storage staking: why some NEAR is locked

NEAR charges for on-chain data with storage staking: every byte an account uses must be backed by NEAR held in that account. The current rate is 1 NEAR per 100 KB, which is 0.00001 NEAR per byte. A basic implicit account with one key uses under 200 bytes, so roughly 0.002 NEAR of your balance is locked to pay for its own existence.

That locked amount is not spent. It stays yours and is released if the storage is freed. It does mean you cannot send your entire balance, and that the very first transfer to a new implicit account must at least cover its storage. Contracts work the same way, which is why some apps ask for a small storage deposit when you first use them.

How to create a NEAR wallet with Keylo

If you have a phrase from another NEAR wallet that uses the standard m/44'/397'/0' path, importing it shows the same implicit account. A named account such as alice.near is a separate account that may have been created from that key, so its balance will not appear in Keylo; move funds from it to your implicit account if you want them in one place.

1. 1

   Go to create a Keylo wallet in a modern browser on any device. No app or extension is needed.

2. 2

   Register with your name, email, phone and password, then verify your email.

3. 3

   A fresh 12-word recovery phrase is produced on your device, encrypted with a key that only your password can recreate, and stored by Keylo in that encrypted form alone.

4. 4

   Open NEAR Protocol in your asset list to see your 64-character account ID, labelled with the network name.

5. 5

   From Settings, re-enter your password to reveal the phrase and copy it onto paper kept offline.

6. 6

   Fund the account with a little NEAR so it exists on chain.

How to receive NEAR

Most exchanges support withdrawals to implicit accounts. If an exchange's form only accepts names ending in .near, it may not support implicit accounts yet; check its help pages rather than guessing. For a brand-new account, the first deposit must be large enough to cover storage, so withdraw at least a few tenths of a NEAR to leave room for fees too.

1. 1

   Open NEAR Protocol in Keylo and tap Receive.

2. 2

   Copy your 64-character account ID or show its QR code.

3. 3

   Ask the sender to withdraw on the NEAR network itself. Exchanges usually label it NEAR or NEAR Protocol.

4. 4

   Watch Activity. Deposits generally appear within a few seconds, with a NearBlocks link.

How to send NEAR

NEAR transfers are final once included, and a payment to a mistyped account ID cannot be recovered. A mistyped 64-character implicit account will still be accepted by the protocol, because any valid hex string is a possible account, so copy IDs rather than typing them. For named accounts, a typo usually fails because the account does not exist.

1. 1

   Open NEAR Protocol and tap Send.

2. 2

   Paste the recipient's NEAR account ID or scan their QR code. Copy it exactly; account IDs are case sensitive and lowercase.

3. 3

   Enter the amount, or tap Max. The part locked for storage stays behind.

4. 4

   Review the summary: recipient, exact amount and network fee.

5. 5

   Confirm. Keylo signs the transaction in your browser and it is usually final within a couple of seconds.

NEAR gas fees explained

NEAR measures work in gas, usually counted in teragas (Tgas). Each transaction attaches enough gas for its work, and any unused gas is refunded. The gas price adjusts slowly with demand from a protocol minimum, and at that floor 1 Tgas costs 0.0001 NEAR. A simple transfer uses well under 1 Tgas, so its fee is a few hundred-thousandths of a NEAR.

For plain transfers, the fee is burned. When a transaction calls a smart contract, 30% of the gas fee goes to the contract's account as a reward for its developers, and the rest is burned. Keylo shows the network fee in the summary before you confirm, and adds no fee of its own to a normal send. Because the gas price only moves gradually, NEAR fees stay predictable even when the network is busy.

NEAR tokens and what Keylo supports

Fungible tokens on NEAR follow the NEP-141 standard, and native USDC and USDT both exist on NEAR. Most token contracts require each holder to register by paying a small storage deposit before they can receive the token. Keylo's NEAR support covers the NEAR coin and your transaction history; it does not display or send NEP-141 tokens.

If tokens are sent to your Keylo account anyway, they are not lost: they belong to your account on chain and can be accessed by any wallet that supports NEP-141 tokens and uses the same key. To avoid confusion, withdraw stablecoins to a network where Keylo shows tokens, such as Ethereum, Solana or Tron. The chains page lists every network and what Keylo supports on it.

Moving NEAR to other networks and practising on testnet

Keylo does not offer swaps or bridges for NEAR, so NEAR in Keylo stays on the NEAR network. To change it into another asset, send it to an exchange that supports native NEAR deposits, trade there, and withdraw on the destination network to the matching Keylo address. If you want to try sending first, turn on Testnet mode in Settings to add NEAR Testnet and fund a test account with free testnet NEAR from a faucet. Testnet account IDs use the same 64-character format, so check the network label in Keylo before you share one.

NEAR safety tips

• Copy account IDs instead of typing them. A wrong 64-character ID is still valid and the funds cannot be recovered.
• Never enter your recovery phrase on a site that offers to verify, unlock or upgrade your NEAR account.
• Be careful with requests to add a full-access key to your account through other wallets. A full-access key gives complete control.
• Withdraw only native NEAR to your Keylo account, not bridged NEAR from another network.
• Turn on authenticator codes for logging in and choose an anti-phishing code, so fake Keylo emails stand out; Keylo security has the details.
• Keylo staff will never ask for your password or phrase.

Frequently asked questions