What is the difference between Key Wallet and Smart Wallet?

The new Smart Wallet is a smart contract based wallet which opens up loads possibilities to not interact with other Smart Contract but also to implement security measures such as Daily Limits and recovery through devices or persons. 

Do I need to transfer my funds from key wallet to smart wallet?

Yes you need to transfer your funds from key wallet to smart wallet, you can do so by clicking the send option on your key wallet then selecting "smart wallet" your funds will be transferred

Do I a receive a fresh wallet address for my smart wallet?
Yes you will receive a new wallet address when you have successfully deployed your smart contract wallet, you can view that by clicking the receive option on your smart wallet, your wallet address will pop up with a QR code which you can use to receive funds.

What advantages do smart wallet have over key wallet?

Smart wallet have so many advantages over the key based wallet, some of them are, ability to set transaction limit on your wallet, ability to recover your 12 words phrase through a trusted device or user, ability to pay in PLR for all transactions on your smart wallet, ENS support i.e each user as a customised address which you can use as your wallet address e.g if your username is "samuel" on the pillar wallet your ENS is samuel.pillar.eth.

Can I still use my 12 word phrase to access my smart wallet?

Yes your 12 word phrase will still be used to access your smart wallet but in the future you will be able to recover it by authenticating a user or device.

Do I need to pay for smart wallet to be deployed?

Yes, you need to pay a certain fee for the activation to happen.

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