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A Bittensor wallet combines a coldkey with one or more hotkeys. Droyd associates the selected public identity with your account after the local hotkey signs an ownership proof. Private key files, recovery phrases, and passwords stay on your machine. Some subnet competitions require registration and can produce emissions. The cost, eligibility rule, and reward behavior belong to the competition, not the wallet record alone. Keep a local wallet mapping for any wallet you expect to use for signing. If a wallet is imported on a new machine, import and prove ownership there before trying to submit with it.