How to Set a Custom Derivation Path in Compass Wallet

Compass Wallet uses a Hierarchical Deterministic (HD) wallet structure, allowing you to generate multiple accounts from a single mnemonic phrase. This is made possible through the BIP44 standard, which enables you to create countless addresses from the same seed phrase.

Understanding Derivation Paths

A derivation path is a string that defines how your wallet generates addresses from your mnemonic. The standard format looks like this:

textm / purpose' / coin_type' / account' / change / address_index

• purpose: Usually set to 44 for BIP44 wallets.
• coin_type: Identifies the blockchain network. You can find a full list of coin types in the SLIP44 standard.
• account, change, address_index: Used to differentiate between accounts and addresses within your wallet.

Important Note

Some networks and wallets may default to the Cosmos Hub coin type (118), even if they have their own unique coin type. This is often done for compatibility with Ledger hardware wallets. If you notice your Compass Wallet address is different from what you expect, try using different coin types to ensure you’re accessing the correct account.

Why Set a Custom Derivation Path?

• Access accounts from other wallets: If you’ve used another wallet with a custom derivation path, setting the same path in Compass ensures you see the same addresses.
• Advanced wallet management: Power users can manage multiple accounts or networks from a single seed phrase.

How to Set a Custom Derivation Path in Compass

1. Open Compass Wallet and navigate to the account import or wallet setup screen.
2. Enter your mnemonic phrase as usual.
3. Look for the option to set a custom derivation path (often labeled “Advanced” or “Custom Path”).
4. Input your desired derivation path following the BIP44 format.
5. Confirm and proceed. Compass Wallet will generate addresses based on your specified path.