Web3 wallets are essential for storing, transferring, and receiving digital assets like cryptocurrencies and NFTs. They enable access to the Web3 realm, including blockchain technology and decentralized applications (DApps).

Unlike traditional Web2 systems, Web3 wallets eliminate the need for third-party companies to manage user data and assets. This decentralization gives users complete ownership and control over their digital assets.

More than just an asset management solution, Web3 wallets also allow users to interact directly with DApps, engage in decentralized finance (DeFi), trade NFTs, and participate in various blockchain activities, prioritizing user authority, confidentiality, and direct involvement with the Web3 environment.

Key Features of a Web3 wallet

Wallet: Decentralized multi-chain wallet that prioritizes security and convenience. It has the capability to support more than 100 blockchains, 250,000 tokens, and allows the customization of 300 EVM-based mainnets. It is also compatible with mnemonic wallets, MPC wallets, and hardware wallets.

Enhance your Trading Experience: You can enjoy a top-notch trading experience on your mobile device. The wallet offers features such as flash swaps, cross-chain swaps, and limit orders. By pooling liquidity from numerous popular DEXs and cross-chain bridges, it automatically compares prices across the network for every transaction. Further, it supports a wide variety of token pairs and simplifies the trading process.

NFT Trading: Allows users to purchase NFTs using any currency. It collects listings from well-known NFT markets like Opensea, Rarible, and Blur. Users have the capability to transfer and list NFTs in batches, as well as take part in popular campaigns such as Free Mint.

DApp Browser: This allows users to easily find and explore popular interactive projects.

Furthermore, it can be utilized for OTC trading, gaining profits through staking, and benefiting from engaging with well-known projects. It provides a comprehensive solution to fulfill all your requirements in the world of Web3.

Benefits of Using Web3 Wallets

1. Increased Protection

It allows users to have sole control over their private keys and mnemonic phrases. The wallet offers an advanced MPC wallet for enterprise use that does not rely on private keys and can be used with hardware wallets. These features cater to a wide range of user needs for storing and managing assets. Furthermore, the wallet prioritizes security with its inclusive GetShield system, which is designed to protect user assets.

2. Simplified Trading Process

Users have access to a variety of cryptocurrency markets and trading options. This platform allows for easy identification of popular assets and enables transactions to be made at the most advantageous prices throughout the entire network.

5 Reliable Crypto Wallets

Bitget Wallet

Bitget Wallet, with robust Web3 functionalities, supports 100+ blockchains. It offers swap trading, staking, DApp browsing, and more. Users benefit from liquidity aggregation across DEXs for seamless coin swaps. Backed by a $300 million user protection fund, collaborations with security partners ensure asset safety. With $8B+ swap volume, 20M users globally, and presence in 168 countries, Bitget Wallet is a top choice for self-custodial needs.

OKX Web3 Wallet

OKX Web3 Wallet, backed by a centralized exchange, offers P2P services and 1,000 DApp protocols. It features multi-chain DEX, yield farming, NFT marketplace, and DApp discovery. Users enjoy access to Ethereum, Arbitrum, OKC, BSC, Aptos, and more networks. A standout is its NFT support for storage and collection viewing. For a swift, user-friendly self-custody wallet, OKX is a top choice.

Trust Wallet

Established in 2017, Trust Wallet is a decentralized self-custody platform supporting millions of assets on 100+ blockchains like Bitcoin, Ethereum, Solana, and more. It offers robust security features including encryption, no personal tracking, and alerts for potential malicious transactions. With a mobile app and browser extension, users can access their assets worry-free.

Metamask

MetaMask, launched in 2016 and managed by ConsenSys, offers self-custody with 2FA security, seed phrases, and private keys. Users store assets on various mainnets like Binance Smart Chain, Polygon, and Ethereum. It facilitates cryptocurrency purchase and swaps with an aggregate search for optimal prices.

Phantom Wallet

Phantom Wallet, ideal for Solana Network fans, grants access to various DEXs for on-chain coin purchases. Enjoy top Solana DEXs like Jupiter and Raydium for a premium memecoin experience. With a stylish UI, no KYC requirements, and a connection to the memecoin trend, Phantom Wallet offers a top-tier trading experience.

Setting Up Your First Wallet

Step 1: Activate your freshly installed Web3 Wallet app and select "Create a Wallet." Alternatively, import an existing wallet by entering the mnemonic phrase to access it.

Step 2: Opt for either a 12-word or 24-word mnemonic phrase to secure your new wallet based on your security preferences. While 24-word phrases offer enhanced security, they can be harder to recall. Ensure to store your mnemonic phrase in a safe and secure location.

Step 3: Create a security PIN code. Like your mnemonic phrase, remember to store it securely.

Step 4: Opt to activate notifications to stay updated on the evolving trading landscape via your Web3 Wallet. Assign a nickname to your wallet for effortless organization and recognition. Alternatively, use an existing DID domain name as your wallet's nickname if available.

Depositing and Transferring Funds

How To Purchase Cryptocurrency?

If you're new to cryptocurrency, you can buy some using fiat currency through your wallet's OTC or P2P services. 

How To Transfer Funds To Your Web3 Wallet?

Step 1: Navigate to your wallet homepage, select "Receive," and pick the relevant mainnet and token (e.g., USDT on Ethereum). Copy your Ethereum wallet address by tapping the icon, or use the QR code for seamless transfers.

Step 2: Using your chosen wallet (e.g., Bitget Wallet, OKX, MetaMask), initiate a withdrawal or transfer and paste your Ethereum wallet address to deposit funds.

*Note: Ensure that the sending and receiving networks match to avoid potential asset loss and recovery issues.

Performing Swaps on Your Web3 Wallets

In this section, we will primarily focus on using Bitget Swap as our main illustration.

Bitget Wallet, previously BitKeep, integrates a native trading solution, Bitget Swap, allowing users to swap assets effortlessly anytime, anywhere. By consolidating liquidity from numerous DEXs, Bitget Swap guarantees users the best prices network-wide, extensive trading pairs, and detailed candlestick charts. Moreover, Bitget Swap facilitates economical cross-chain transactions and gas borrowing services, striving to deliver a seamless and all-encompassing trading journey for users. Here, we will be taking a dive into all you need to know to start trading on Bitget Wallet.

Leveraging Bitget Swap

Step 1: Launch the Bitget Wallet app and click on "Swap" from the home page to enter the Bitget Swap interface.

Step 2: Within the primary interface, users can view the latest market trends and token fluctuations. By selecting a specific token, users can delve into detailed information like price changes and candlestick charts. Tokens are conveniently sorted into categories like trending, new tokens, and top gainers. If a desired token is not visible, users can utilize the search function by tapping the magnifying glass icon in the top right corner.

Step 3: After choosing your preferred token, you can explore additional details such as price fluctuations, candlestick charts, liquidity pool movements, and more.

Step 4: To initiate your trade, click on either "Buy" or "Sell" to access the trading page. Enter your transaction specifics like amount, network, and token type. Pay close attention to the transaction details at the page's bottom, which indicate slippage, trading fees, and price impact.

Step 5: Once you have inputted your transaction details, click on "Confirm," and proceed to follow the on-screen prompts to verify and finalize your trade.

Step 6: After completing a successful trade, access your transaction history by tapping the icon in the right-hand corner of your trading interface. Here, you can review order specifics and transaction details. Additionally, you have the option to track your transaction status on-chain by utilizing the block explorer.

Executing Cross-Chain Transactions

With support for 90+ renowned blockchains and more than 25,000 coins, Bitget Swap offers extensive multi-chain trading capabilities. Users can seamlessly swap various tokens across different blockchains in a single step, eliminating the need to switch trading channels or endure repetitive authorization processes. This efficient and user-friendly approach makes cross-chain transactions cost-effective and convenient for users.

Step 1: Utilize the horizontal scroll bar to choose the mainnet of your preference and select the trading pair you desire. For instance, in the provided example, exchanging USDT on the BNB Chain for MATIC on Polygon can be effortlessly completed in a single step.

Step 2: Once you have confirmed your cross-chain mainnet and token selection, input the transaction amount and click on "Confirm". Proceed to follow the on-screen instructions to finalize your transaction.