What is WalletConnect? A Complete Guide on How to Use it

 WalletConnect provides a seamless connection between crypto wallets and decentralized applications (dApps). In this guide, we’ve compiled everything you need to know about this popular protocol.

What is WalletConnect?

Wallet Connect is an open source protocol that allows crypto wallets to interact with DApps. With it, you can connect your wallet to a wide variety of applications and discover the full potential of the Web3 ecosystem, including decentralized finance, games, marketplaces, and more.

WalletConnect establishes an encrypted connection between two apps, wallets, or devices using a QR code or link. It also sends push notifications to the user to inform them about incoming transactions.

Since launched in 2018 by developer Pedro Gomez, Wallet Connect has been expanding the interoperability in the Web3 space, allowing wallets to deliver a superior user experience through cutting-edge tools and infrastructure.

Prefer watching over reading? Check out the video below that explains what Wallet Connect is!

Wallet Connect key features

Smoothly connecting users with various blockchain networks, WalletConnect offers an array of key features to enhance your DeFi journey.

Chain Agnosticism

One of WalletConnect’s most remarkable features is its chain agnosticism, meaning it effortlessly integrates with a variety of blockchain networks. Whether you’re handling transactions on Ethereum, Solana, or any other supported chains, WalletConnect v2 has got you covered.

What’s even better? The folks behind the protocol are committed to expanding their list of supported chains continuously. This dedication ensures compatibility with an ever-growing range of blockchain ecosystems, providing users with a truly interconnected and limitless decentralized finance experience.

Multichain support

With Wallet Connect, you can establish connections between your wallet and multiple blockchains at the same time. This feature allows you to effortlessly interact with different networks, streamlining your workflow.

Flexibility

Whether you’re using desktop, browser, mobile, or gaming apps, the WalletConnect protocol is highly adaptable, providing consistent functionality and a seamless experience across platforms.

How does Wallet Connect work?

Now, how does WalletConnect work?

Picture this: you want to use a DApp, and it needs to know your wallet’s secrets (a.k.a. private keys). Sounds a bit scary, right?

But here comes Wallet Connect to the rescue!

Instead of giving away your precious private keys, you just scan a cool QR code on the DApp using your wallet app. Boom! Connection established! Your private keys stay safe and sound within your wallet, and you stay in control.

As previously mentioned, WalletConnect is like the cool kid on the block; it hangs out with all the popular blockchain networks. Ethereum, Binance Smart Chain, Solana, you name it!

It’s chain agnostic, meaning it plays nice with all of them, promoting an inclusive DeFi world.

Walletconnect compatible wallets

WalletConnect seamlessly integrates with over 300 cryptocurrency wallets including MetaMask, Crypto.com, Polygon, and Coinbase Wallet.

The full list of WalletConnect wallets can be found here.

How to use Walletconnect

To use WalletConnect, follow these steps:

1. Open DApp or Website: Start by opening the DApp or website that you want to interact with. Make sure it supports WalletConnect as a login or connection method.
2. Select WalletConnect: Look for the option to connect your cryptocurrency wallet within the DApp or website. When you find it, choose “WalletConnect” as the method to initiate the connection.
3. QR Code Display: Once you select WalletConnect, a QR code will appear on the screen. This QR code contains the necessary information to establish a secure connection between your wallet and the DApp.
4. Open Wallet App: Now, grab your smartphone and open the cryptocurrency wallet app that you want to connect to the DApp. Ensure that the wallet app supports WalletConnect functionality.
5. Scan the QR Code: Within your wallet app, find the option for WalletConnect or scan QR codes. Use this feature to scan the QR code displayed on the DApp’s screen.
6. Confirm Connection: After scanning, your wallet app will recognize the DApp and ask you to confirm the connection. Verify the details, and if everything looks good, proceed to approve the connection.
7. Connected and Ready: Once the connection is successfully confirmed, your wallet is now linked to the DApp! You can start using your wallet’s features within the DApp, such as making transactions, interacting with smart contracts, or accessing other services offered by the DApp.

Disconnect WalletConnect

Once your work is successfully completed, you can disconnect WalletConnect from your chosen cryptocurrency wallet. You have the option to do this either through a dApp web browser or directly from the wallet app, depending on the platform you are using.

WalletConnect app

Did we mention that Wallet Connect is mobile-friendly too?

In today’s fast-paced world, mobile accessibility is crucial. Whether you’re on your desktop or out and about with your phone, WalletConnect has your back.

With full support on mobile devices through dedicated apps, users can conveniently manage their digital assets from their smartphones, staying connected to the ever-changing DeFi landscape wherever they are.

Benefits of Wallet Connect

Privacy & Security

WalletConnect is a secure and private infrastructure that allows easy and secure transactions between decentralized applications and crypto wallets.

It is important to note that WalletConnect does not expose users’ private keys to any DApp. However, before you get started, you need to assess the risks associated with the chosen application and always adhere to crypto wallet security practices.

Seamless experience

WalectConnect is revolutionizing the interaction between wallets and dApps by providing a dynamic user interface (UI) that provides a seamless experience.

The protocol offers user-friendly navigation options, including switching between light and dark modes, accent colors, and custom branding.

It also provides a wide range of pre-installed features that make it easy to manage your connection. In addition, users can access ENS profiles, transaction history and real-time balance updates.

Compatibility

This protocol supports over 300 cryptocurrency wallets, including Robinhood Wallet, Crypto.com, Uniswap, Trust Wallet, MetaMask, MyEtherWallet, Rainbow, SafePal, and more.

Walletconnect vs Metamask – Which is the best?

In this Metamask vs Walletconnect comparison, we’ll explore the features and functionalities of both platforms to help you make an informed decision on which one best suits your needs.

So there you have it, the breakdown on WalletConnect and MetaMask, two awesome wallets for handling your crypto needs. They both offer some nifty features, but which one’s the best fit for you?

If you’re all about flexibility and security, WalletConnect might be your go-to. Its protocol-based approach means it plays nicely with tons of crypto wallets and DeFi projects. Plus, that QR code scanning keeps your private keys safe and sound.

On the flip side, if you’re fully immersed in the Ethereum and Binance Smart Chain world, MetaMask’s got your back with its handy browser extension and mobile app. It’s all about that direct integration.

So, take a moment to weigh your options. Consider what matters most to you. With this comparison in hand, you’re well on your way to making an informed decision that suits your unique crypto journey.

How to use Walletconnect with Metamask

1. Install MetaMask: If you don’t have MetaMask already, install it as a browser extension or mobile app, and create or import your Ethereum wallet.
2. Open DApp: Visit a decentralized application (DApp) that supports WalletConnect for connecting your wallet. Look for the “Connect Wallet” or similar option.
3. Select WalletConnect: In the DApp, choose “WalletConnect” as the connection method. It will display a QR code.
4. Scan QR Code: Open your MetaMask app and find the “Connect to a DApp” or “Scan QR Code” option. Use it to scan the QR code displayed on the DApp.
5. Approve Connection: Confirm the connection on MetaMask, and you’re all set! Your MetaMask wallet is now connected to the DApp via WalletConnect.

Now you can freely interact with the DApp, perform transactions, and enjoy seamless access to DeFi services while keeping your private keys safe within MetaMask.

Read also: Thug Life Coin: A Comprehensive Guide to Investing in $THUG in 2023

Is WalletConnect Safe?

You bet! WalletConnect is designed with your security in mind. They’ve got some nifty features that keep your crypto assets protected while you interact with those fancy decentralized applications. Here’s why WalletConnect is considered safe:

• No Sharing of Private Keys: The best part about WalletConnect is that it doesn’t ask you to share your private keys with the DApps you connect to. That means your keys remain safe and sound within your crypto wallet where they belong.
• Open Source and Audited: WalletConnect is open-source, meaning its inner workings are open for all to see. That kind of transparency allows security experts to dig in and audit the code, making sure everything’s up to snuff and no hidden vulnerabilities lurk in the shadows.
• You’re in Control: Whenever you interact with DApps using Wallet Connect, you’re in full control. Every transaction requires your manual approval within your crypto wallet app, so no surprises or unauthorized actions.
• No Central Authority: Wallet Connect is all about decentralization, which means there’s no central authority calling the shots. That reduces the chances of single points of failure and adds an extra layer of security.

So, rest assured that WalletConnect is safe as long as you use it responsibly.

Conclusion

WalletConnect is unique and critical to the Web3 ecosystem. It simplifies the process of connecting different wallets to dApps running on different blockchains and eliminates the need for users to install cumbersome browser extensions or risk private keys.

As DeFi grows in popularity, the use of Wallet Connect is likely to pick up even more traction. And as crypto wallets become more and more mobile, the protocol has every chance of gradually becoming an indispensable tool.

FAQ

• What is Walletconnect?

WalletConnect is a technology that allows you to connect your cryptocurrency wallet to DApps and other platforms seamlessly.

• What is Walletconnect used for?

Wallet Connect is used to connect crypto wallets with DApps and platforms securely, enabling users to interact with the decentralized finance ecosystem and perform various transactions and operations without sharing their private keys.

• How does Wallet Connect work?

Wallet Connect works by establishing a secure connection between a cryptocurrency wallet and a decentralized application using a QR code scan. Once connected, users can interact with the DApp and perform transactions while retaining control over their private keys.

• What wallets does WalletConnect support?