WalletConnect: How Does It Work

The cryptocurrency sphere is quite various and full of specific features and mechanisms to effectively manage tokens. WalletConnect is one of these surprising options. What is WalletConnect, and how to utilize it correctly? All questions will be answered in this article.

What Is WalletConnect?

WalletConnect is an open-source standard that allows digital wallets to connect to decentralized applications (dApps). Additionally, sometimes WalletConnect can be fully related to a decentralized communication layer for next-generation Internet technology that relies on machine learning, artificial intelligence (AI), and blockchain technology (web3).

WalletConnect is used for simplifying the integration of cryptocurrency wallets and decentralized applications, providing a simple connection that facilitates working processes. Due to innovative Mobile Linking technology, WalletConnect enables a seamless connection between cryptocurrency wallets and decentralized applications.

WalletConnect is quite an innovative option, even nowadays, due to its specific usage of shared keys. Actually, a shared key is the base of WalletConnect’s functioning, as with its help, WalletConnect establishes an encrypted connection, facilitating interaction between DApps and compatible wallets.

How To Use WalletConnect?

To use WalletConnect, you'll need a specific online wallet and an app or website. It’s essential that they both must support the WalletConnect protocol. Additionally, the WalletConnect protocol operates independently of any blockchain and is considered a free option. So, you may easily manage your cryptocurrency between various platforms using it.

To start utilizing WalletConnect correctly, you should follow these steps:

• Install a WalletConnect-enabled application on your device. It may be a phone or computer through which you get access to your crypto funds;

• Open your cryptocurrency app that supports WalletConnect;

• In the “Settings” section, find the option “Connect Wallet”;

• Select WalletConnect as the connection method;

• Next, the app will ask you to scan the QR code using your digital wallet;

• Go to your crypto wallet platform and confirm the connection.

Well done! Your walletConnect is activated, so the app is also connected to your crypto wallet. Now you can utilize it to facilitate your personal or business financial processes, making fast-speed transactions and maintaining less-time consuming crypto management.

Nevertheless, nothing can be so simple, and it’s not enough to know only how to properly set up a wallet but also the potential problems with which it may not work. WalletConnect may not work due to a bad Internet connection or its absence, an unsupported wallet version or provider, or even due to browse or wallet blocking for security reasons.

Is WalletConnect Safe?

WalletConnect is a relatively secure protocol that establishes an encrypted connection between two applications, wallets or devices, providing safe and private communication through decentralized routes. WalletConnect protects your transactions precisely thanks to this decentralization.

As we’ve already mentioned, WalletConnect establishes a safe and seamless connection. All data is achieved through QR codes without any intermediaries or regulating third-parties, making the onboarding process easier, quicker, and more secure for users. So, WalletConnect is a decentralized protocol by its nature.

By the way, the WalletConnect protocol is fully legitimate. However, you still should be cautious and ensure that you’re using the official and updated version of this standard software since there are many untrustworthy copies of it, which, moreover, can harm not only your account and wallet, but also the device, smartphone or computer, on which you work.

For example, WalletConnect V2.0 is the latest version of the WalletConnect protocol that builds upon the success of the previous version (V1.0) and introduces new features such as multi-chain support, cross-platform compatibility, encryption enhancements for increasing security, etc.

Depending on which wallet provider or DeFi application you use, security measures may vary, since not all platforms provide reliable security measures for protecting your account. WalletConnect is quite safe to use, but you can increase the level of your wallet protection by utilizing standard methods. Always enable two-factor authentication, keep your password in a safe place, and avoid fraudulent links on the Internet.

WalletConnect Compatible Wallets

WalletConnect is platform-independent, which means it can be used across a variety of applications. The protocol is easily adaptable, providing consistent functionality and user experience across platforms. So, there is a wide range of WalletConnect compatible wallets. At the same time, DApps require compatible blockchain wallets to access and use, too. Integrating multiple cryptocurrency wallets with each application can be a tedious task.

All in all, it’s crucial to choose the right digital wallet to utilize WalletConnect for your necessities. Here is a list of such compatible wallets:

• MetaMask Mobile

• Cryptomus

• Trust Wallet

• Coinbase Wallet

• Math Wallet

According to most users, Metamask Mobile is one of the most popular and frequently used wallet providers that is used when working with WalletConnect. Nevertheless, on the Cryptomus wallet, the WalletConnect option can be enabled in just a few seconds without making any complicated actions, compared with other services.

What about MetaMask, it’s a specific service for providing a gateway for wallets into the DeFi ecosystem like WalletConnect, too. But they’re not the same at all.

WalletConnect, compared with MetaMask, is better for daily use in the cases of security and supported blockchains. In turn, MetaMask is more convenient due to the presence of a separate application where you can link your wallets to DApps. Therefore, choosing between these tools still depends on your priorities and purposes.

WallectConnect Within The Cryptomus System

On the Cryptomus platform, you may find a wide range of useful financial tools for efficient cryptocurrency management. Digital wallets, P2P exchange, staking, and others are all here for you to work with.

The WalletConnect protocol is also available to use on your Cryptomus wallet account. Additionally, it enables just a few seconds without distracting you from your daily issues. You can connect your wallet with DApp directly through the payform, which appears when paying for a particular invoice, which makes the process fast and efficient.

With WalletConnect, our customers can use over 35 different cryptocurrency wallets to pay for goods and services they want. Among them are such popular wallets as Trust Wallet, Ledgerand, and many others.

That’s all for now! We hope this article was handy for you! Use WalletConnect to make it easier to interact with cryptocurrencies. Cryptomus is here for you to help!