Web3 Wallets
The concept for Web3 wallets is that certain sites will be ‘blockchain enabled’. Look out for this being labelled as ‘Dapp’ (decentralized app). So if the site is Dapp enabled, you can connect your Web3 wallet.
Connecting your Web3 wallet to a Dapp website is similar to logging into a website using your Google or Apple account. But rather than sharing your name and profile pic, you are sharing your wallet contents.
If you have setup a Cardano native wallet like Eternl or Nami you already have a Web3 wallet.
The Nexus currently supports Eternl, Nami, Flint and Typhon. These Web3 wallets require Chrome-based browser extensions (Chrome, Edge, Brave and Opera). Mobile browsers don’t currently support Web3 wallet extensions, so there are no mobile Dapps yet.
Safety Tips!
- Never enter your seed phrase to a Web3 site – scammers will setup honeypot sites making it look like you are linking your wallet to their app, but they will use it to drain your wallet…
- NEVER ENTER YOUR SEED PHRASE TO A WEB3 SITE!!!
- NEVER ENTER YOUR SEED PHRASE TO A WEB3 SITE!!!
- Check the browser extension you are installing is legitimate
- You will be asked to enter your SPENDING PASSWORD, but check that fees are zero
Some tips on your Cardano wallet, plus hardware and web3 wallets:
- Your ADA and tokens live on the blockchain, not in a specific wallet app. Think of a wallet app as a front end for your account on the blockchain.
- You can ‘restore’ your account to multiple different wallets. You may want different wallet apps in case of a bug issue, or for use on a mobile app.
- You should use a hardware wallet (cold wallet) which works for web3 in conjunction with certain web3 wallet apps that support your hardware wallet