Which Of The Eight Commonly Used Web3 Wallets Is Better?

By: Karen, News

As the super traffic entrance of Web3, decentralized wallets not only carry tens of millions or even hundreds of millions of users’ real money, but are also the entrance to countless DeFi, metaverse, chain games, and social applications.

Giants such as Meta and Starbucks are rushing into the Web3 wave, as well as positive signals from regulations in many places, all of which are accelerating the release of traffic dividends. Against this background, competition among Web3 wallets has become increasingly fierce, and competition has begun to become more refined in terms of ecological compatibility, functional diversification, user experience, and security testing.

Last week, News published a hard-core comparison of five commonly used Web3 wallets ("Wallet Traffic World | Hard-core Evaluation of Five Web3 Wallets"). Today, following the publication of the first article, we continue to add more information and include three other most popular ones in the community. Two Web3 wallets ( , , Trust ) joined Hengping.

This article will conduct a comprehensive evaluation of eight Web3 wallets including , , Ouyi Web3 Wallet, Trust , , , , and the latest mobile wallet, and try to present the core features of each wallet in terms of ease of use, functionality, security, etc. and advantages.

: Simple plug-in, DApp support

As a "unicorn" wallet compatible with the Ethereum EVM ecosystem, it has been established for nearly 7 years. The developers and operators behind it announced in March last year that it had more than 30 million monthly active users.

The plug-in wallet ranks first among Web3 wallets with its clean, concise, and secure core functions. In addition to asset storage, the four main scenarios of its plug-in wallet are access to DApps, purchases, transfers and transactions. Among them, the trading service provided aggregates numerous data from DEX. DEX aggregators and market makers are used to help users get the best prices with the lowest network fees, but the trading service will charge a fee of 0.875% for continued wallet development. .

DApp was launched in the second half of last year, which can be regarded as a wallet webpage, greatly improving the degree of asset visibility. In addition, the DApp also supports cryptocurrency purchases and transactions, and has also launched a cross-chain bridging function. It is also currently testing staking, currently integrated with Lido ETH (stETH) and Pool ETH (rETH).

It is worth mentioning that the previously updated privacy policy caused users to worry about data privacy. In response, it said it intends to only retain user data for seven days. Additionally, in terms of security and privacy, users are allowed to set phishing domain warnings for users. Among the new features of the recent update, plug-in wallets are also supported. Users can change the RPC regulations by clicking "Set Advanced Privacy" when creating a new wallet. vendors and switch to third-party services to send requests, help detect phishing, identify incoming transactions, and more.

Usage experience: RPC needs to be set up by yourself, link disconnection is troublesome, and lags occasionally occur.

：Web3 convenient participation entrance

It is a relatively convenient Web3 multi-chain wallet. In May last year, it completed a $15 million Series A financing, led by A&T, Danhua Capital and others.

Currently, it supports more than 90 main chains and basic RPC configurations, and integrates Swap, NFT, DApp exploration and other sectors. Among them, Swap utilizes the aggregated liquidity of multiple DEXs and bridges to facilitate cross-chain transactions. In addition, the gas fee transaction function helps users complete the exchange without using mainnet coins as gas fees, making it more convenient.

The NFT market not only supports networks such as Ethereum and BNB Chain, but also supports functions other than trading such as batch placing of orders. In February, the NFT market launched a six-month on-chain fee-free transaction activity. This month also launched an ecological month, launching a series of ecological incentives including NFT fee-free transactions, order subsidies, etc.

In addition, the DApp exploration page also contains a relatively complete range of DeFi, NFT, and social applications.

In terms of security, the DESM double encryption algorithm is used to ensure that the user's private key and mnemonic phrase are not stolen by third parties through cracking algorithms. It also provides access to authorization detection and contract detection services. In addition, US$1 million is set aside as a fund protection fund and 10% of monthly Swap income is promised to be allocated to this fund.

Usage experience: The interaction is relatively smooth, supports a large number of ecology and links, aggregates Swap, NFT, DApp exploration and other sections, and has rich functions. When a multi-chain DApp is disconnected, the network change approval page will automatically pop up, which is more convenient. In addition, the red envelope, batch transfer, and DEX K-line functions are also quite unique.

OKX: Heterogeneous multi-chain ecological wallet and one-stop Web3 aggregation entrance

OKX is also a heterogeneous multi-chain ecological wallet with relatively complete functions. Currently it supports six major ecosystems: EVM, UTXO, Tron, and Move, and has been connected to 50+ chains. In addition, OKX is also one of the few multi-chain wallets that supports the creation of multiple sets of mnemonic wallets and the derivation of multiple accounts from one set of mnemonic words.

OKX wallet has built-in DEX, currency earning, NFT market, DApp exploration and other sections, providing users with one-stop Web3 entrance and services. One of the highlights of the Ouyi Web3 wallet is the non-intrusive link cutting function across DApp ecosystems. When connecting to multi-chain DApps, you can freely use the DApp functions between EVM and the ecosystem without breaking the link.

In terms of cross-chain DEX, OKX aggregates more than 100 DEX, comprehensively calculates prices, slippages and network fees. 11 chains such as NFT Fangfang and OKC provide users with optimal transaction paths. It aggregates mainstream NFT markets such as X2Y2 and Magic Eden, and also Supports multi-platform orders and NFT shopping carts; in terms of earning coins, Ouyi Web3 wallet aggregates more than 300 on-chain investment protocols and products, and supports one-click cross-currency investment, allowing users to deposit any currency with one click. Join the liquidity pool and save network fees.

In terms of security, Ouyi Web3 wallet is also connected to the OKX risk address library, supporting authorization management and "similar address phishing detection".

Usage experience: It supports a large number of ecology and links, supports contactless link cutting, is more convenient, and the interaction is relatively smooth. The built-in faucet function is also user-friendly for testnet interaction.

: Has first-mover advantage, but only supports mobile terminals

Founded in May 2016, it received US$10 million in financing from IDG exclusively in 2018 and completed a US$30 million Series B financing led by Qiming Venture Partners in 2021.

With its first-mover advantage, it has a certain user base and currently supports multiple ecosystems such as Bitcoin, Ethereum, and EOS, but currently only supports mobile terminals. When users connect to DApp, they need to scan the QR code to establish a connection. Or search for the application yourself on the mobile DApp browsing page.

A set of mnemonic phrases is used to generate a digital identity for the user. The corresponding multi-chain wallet under digital identity is the user’s identity wallet. The multi-chain wallet corresponding to the identity can be restored through a set of identity mnemonics, eliminating tedious backup steps. If you want to create additional wallets, you can create multiple sets of mnemonic wallets.

In terms of financial management, it supports stablecoin financial management and Tezos staking mining. In addition, the trading service is deeply integrated with the DEX protocol it incubates.

Usage experience: When connecting to DApp on the web, you need to connect through the mobile terminal. When switching links or interacting, you also need to enter a password on the mobile terminal for confirmation. However, you can also set up password-free payments using Face ID. Loading speed is relatively slow when trading.

Trust: Pretty good, built-in private browser

Trust is a mobile wallet acquired by Binance in 2018. After the acquisition, Trust operates independently. Trust currently mainly has App side and plug-in side. The functional experience is quite satisfactory, and it supports services such as cryptocurrency purchase, storage, NFT display, staking, and DApp exploration.

Trust mobile terminal also has a built-in Internet search engine and promises not to monitor or record user search content.

User experience: simple functions and simple style

:Add multiple security protection mechanisms

The plug-in wallet currently only supports Ethereum EVM compatibility and ecology. Its mobile terminal and plug-in wallet interface are relatively simple. The DApp exploration page provides access to the NFT market and some popular DApps.

In terms of security, it provides transaction preview, DApp blacklist, junk token management, malicious DApp access warning functions, and provides users with a variety of security protection mechanisms.

: Simple function, supports multiple signatures

Supports Bitcoin, Ethereum, BNB Chain, TRON, Aptos,,, and other networks. In addition to basic storage and transfer functions, it also supports instant redemption and DApp exploration functions. The recently updated wallet version supports multi-signature wallet creation and import.

Usage experience: The function is simple, DApp exploration only allows users to search by themselves, and does not provide DApp lists or trend displays.

:Support exploring trading or /TVL trends

The mobile version was launched earlier this month and currently supports Swap and Web3 exploration. DApp requires dependencies when connecting, and only needs to confirm signatures when interacting. The Web3 exploration page displays tokens based on trading volume, TVL or market capitalization ranking, and currently also supports token and wallet search functions.

Usage experience: The current product is still relatively rough, and the Web3 exploration page loads slowly.

generalize

With its first-mover advantage (founded in 2016) and its simplicity, ease of use, intuitiveness and friendliness, it occupies a dominant position among Web3 wallets. However, it only supports the EVM ecosystem, requires self-configuration of PR, and has high transaction fees, prompting users to explore other alternatives. Build a multi-chain wallet. Although the multi-chain wallet founded in the same year has a certain user base, its functions are simple and only supports mobile wallets, and DApp access also relies on it.

OKX has also recently begun to work hard to create a Web aggregation super portal, with built-in NFT market, cross-chain Swap, DApp exploration and other comprehensive functions, and the detailed functions of each section are also relatively rich and easy to use.

The interfaces of Trust and Trust are relatively simple and clear, without too many complex functions, and the recently launched products need to be improved.

标签： #Wallet #Aggregation #Simplicity #Privacy #Interaction