# Creating a wallet
There are four options to choose from when you reach the wallet creation step after creating your wallet PIN or password.
Here are the explanations:
## Seed Phrase Wallet
Highly recommended for everyone, this is the most commonly used crypto wallet that comes with a 12-word mnemonic phrase, allowing you to easily restore your digital assets on another device, not limited to CoinWallet. It is similar to a regular bank account and suitable for everyday use.
## MPC Wallet
Recommended for corporate users or if you have a pool of digital assets that must be co-managed with other stakeholders. This wallet requires stakeholders to go through a voting process to complete a transaction based on the defined signature threshold. It is similar to a joint bank account and is often used as a cold wallet.
## Import Wallet
Restore any Seed Phrase Wallet (as long as it has only a 12-word mnemonic) or an MPC Wallet that was previously created in CoinWallet or CoinsDo Wallet. If you lose your wallet password, you must use this function to restore your wallet and digital assets.
## Join MPC Wallet
Join the creation process of an MPC Wallet as a stakeholder. You will need to ask the creator for an invitation code in order to join.
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