DeFi Wallets
Last updated January 7, 2025
To start launching DeFi Rules, you’ll need to connect a DeFi wallet. This connection allows Coinrule to automatically set up a secure Smart Account.
FAQ: What Are DeFi Wallets?
DeFi wallets are non-custodial wallets that give you complete control over your cryptocurrency. Unlike centralized exchange (CEX) wallets, DeFi wallets ensure that you, and only you, have access to your private keys, offering greater security and autonomy.
These wallets are essential tools for managing and interacting with decentralized finance (DeFi) platforms.
Once your DeFi wallet is connected, you can create and launch rules to automate trades on decentralized exchanges (DEXs). This setup combines the power of automation with the benefits of decentralization, giving you more control and flexibility in your trading all while ensuring that your funds remain fully under your control at all times.
FAQ: What DeFi Wallets Are Supported by Coinrule?
Coinrule supports a variety of popular DeFi wallets, including:
- MetaMask
- Phantom
- Rabby
- Trezor
- Ledger
- Trust Wallet
- OKX Wallet
- Coinbase Wallet
- And many more
For the best experience, desktop users can access their wallet via the corresponding browser extension, while mobile users can use the corresponding app.
FAQ: Which Wallet Should I Use and What If I Don’t Have One?
This is really a personal decision. The most popular options are MetaMask and hardware wallets such as Trezor and Ledger. Here’s a quick glance at both types:
- Hardware Wallets: Physical devices that store private keys offline for maximum security. Great for long-term storage and large amounts of crypto (e.g., Ledger, Trezor).
- Software Wallets: Digital wallets stored online as mobile apps, desktop programs, or browser extensions. Convenient for frequent transactions and interacting with dApps (e.g., MetaMask, Rabby).
Choosing the right DeFi wallet depends on your needs and preferences. Consider factors like:
- Security: Hardware wallets are a great choice for maximum security.
- Ease of Use: Software Wallets (e.g. Metamask) are user-friendly and integrate well with many platforms.
- Supported Networks: Ensure the wallet supports the blockchain networks you intend to use.
We strongly recommend conducting your own research on the different wallet options to decide which one best suits your requirements.