WalletConnect is a feature that helps you easily link your crypto wallet with decentralized applications (Dapps) to trade other cryptocurrencies right on your mobile device. Let's learn about WalletConnect and how to use it through the article below with Coin68!
What is WalletConnect? Detailed instructions for using WalletConnect for newbies
What is WalletConnect?
WalletConnect is an open source protocol that allows users' blockchain wallets to connect and interact with decentralized applications (Dapps) . Essentially, WalletConnect acts as a bridge between non-custody wallets and decentralized Web3 applications .
What is WalletConnect?
WalletConnect is not an app but a protocol, so users do not need to download it. Instead, users simply open the Dapp they want to use and connect their wallet by scanning a QR code.
When a user wants to connect to a Dapp using WalletConnect, the Dapp generates a connection request. WalletConnect will then generate a QR code containing this connection request. Users scan the QR code with their crypto wallet and then approve the connection on the wallet. Once approved, an encrypted and secure connection is established between the wallet and the Dapp, allowing users to interact with the Dapp.
Some popular wallets that support WalletConnect include Trust Wallet , MetaMask , Rainbow Wallet .
Notes when using WalletConnect
Security
- Always check the Dapp : Before connecting the wallet to the Dapp, carefully XEM whether the Dapp is trustworthy and whether you have accessed the correct official URL. This helps you avoid the risk of losing assets due to using fake Dapps or URLs created by hackers.
- Restart the application and refresh the browser : To increase security when connecting to the Dapp, restart the wallet application and refresh your browser.
- Private key protection : Dapps do not have access to users' private keys. Be wary of any requests for Seed Phrase and private keys or similar security keys as they could be scams.
- Transaction confirmation : Always double check the transaction details on your wallet before confirming any transaction from the Dapp.
Compatible
- Wallet support : Make sure your crypto wallet supports WalletConnect before trying to connect to the Dapp.
- Dapp support : Not all Dapps support WalletConnect. Please XEM if the Dapp you want to use supports WalletConnect before connecting.
Other
- WalletConnect is not an application : WalletConnect is a protocol, not an application. You do not need to download WalletConnect.
- Encrypted connection : The connection between the wallet and Dapp via WalletConnect is encrypted and secure.
- Connection approval : Every time you connect to a Dapp, you need to approve the connection on your mobile crypto wallet.
Investors in WalletConnect
Investors in WalletConnect
WalletConnect has raised $24.75 million through multiple Capital rounds from famous investors such as Shopify, Coinbase Ventures , ConsenSys , Circle Ventures, Haskey Group and many other investment funds.
Instructions for using WalletConnect
In this article, Coin68 will take Uniswap and Zerion wallet as an example.
- Step 1 : Open Dapp Uniswap with WalletConnect.
- Step 2 : Connect to the Dapp by scanning this QR code with your Zerion wallet application and then click " Connect " to grant access to the Dapp.
- Step 3 : Confirm transaction. When you make a transaction on the Dapp, you will see a notification on your wallet app asking you to confirm the transaction.
summary
Through the article about WalletConnect above, Coin68 hopes readers will grasp basic information about this protocol and how to use it to explore the DeFi market in the most flexible way. Wishing you successful investments!
Note : Coin68 is not responsible for any of your investment decisions. Wishing you success and earning a lot of profit from this potential market!
