Creation and management of DeFi Wallets
DeFi wallet allows users to create a new cryptowallet or add an external one. Cryptowallet is a service that stores the public and/or private keys for cryptocurrency transactions and allows to get access to assets.
Pressing the "Create Wallet" button launches wallet creation that displays a seed phrase. A seed phrase is a series of words generated by your cryptocurrency wallet that give you access to the crypto associated with that wallet.
The application will ask to name the wallet and to confirm a seed phrase. After pressing the "Create Wallet" button, the wallet is ready to use.
The functionality of external wallets addition is also available on the application. Required data is one of the following items:
- Private key
- Ethereum address
- Seed phrase
- ENS domain
After naming and required data conformation, an external wallet will be added.
Users can add new tokens, send and deposit assets to the selected wallet.
Deposit operation stands for receiving assets.
Depending on the type of assets to receive user should select it and the application will display the wallet address or QR-code required for the transaction.
Assets sent require only the address of the destination wallet.
Depending on sending amount following information will be displayed:
- The amount that will be received on the destination wallet
- Arrival time
- The amount that will be deducted from the balance
It is possible to add custom tokens to the selected wallet. The only token address is required.
The token address insertion will provide related information as:
- Token icon
- Token symbol (short name)
- Token name (full name)
- Token decimals
- Count of lists where the token is verified
Wallet connect allows you to connect a DeFi crypto wallet and decentralized apps (for example, Zam.io dApps) with QR code scanning.