On Canton, money sent to you does not land in your account by itself. You have to accept it, and that acceptance is a transaction on the network, so it carries a network fee. You pay it for every incoming transfer.

Turning on one-step transfers removes that. Incoming transfers arrive on their own, you do nothing, and there is no acceptance fee at all.

This is one of the settings we recommend turning on before you send or receive anything.

For Canton Coin, setup is a single small transaction and Loop covers it with a one-time credit. There is no cost to you.

For other supported tokens, one-step transfers are enabled separately, and that setup is a small transaction paid from your Fee Balance. The wallet shows you the fee before you confirm.

Either way, once it is on, accepting incoming transfers of that asset costs you nothing, every time.

The wallet offers this for Canton Coin when you first open it. If you skipped it, you can turn it on at any time from Settings, and enable it there for other assets as well.

In Settings you will find two separate switches. One covers incoming Canton Coin. The other covers incoming utility tokens, which you allow by issuer, so you stay in control of which ones are included.

You can, though we do not recommend it. With it off, you have to accept every incoming transfer by hand, each acceptance carries a fee, and until you accept it, the money does not reach your account.

Yes. You are automating the acceptance of money sent to you. You are not giving anyone permission to spend your funds, and you are not handing over control of your wallet.

Almost always. The one-off setup costs roughly what a single manual acceptance costs, so it pays for itself after the second incoming transfer of that asset. If you only ever expect to receive a token once, leaving it off is reasonable.