What is the Web3 Wallet?

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What is the Web3 Wallet?

It’s a wallet that enables interaction with any decentralized application (dApps) from Web3. Our Web3 Wallet works with an MPC (Multi-party computation) technology that allows you to own the full custodianship of your funds as it safely stores access keys in different locations, implying both parties are required to access the wallet and to sign in for transactions.

 

The main differences between the Web3 Wallet* and the standard custodial wallet are: 

  • Custodianship: In the Web3 Wallet, you hold the keys for your Web3 Wallet and therefore you hold the custody of those funds; while in the standard custodial wallet, the exchange holds the funds and you trust the exchange for the custody of those funds.
  • Product offering: In the Web3 Wallet, you can interact and make transactions with decentralized applications on the Web3, store NFTs and have access to more than 4, 000  tokens; and on the other hand, the standard custodial wallet only allows you to do transactions with products and services offered by the exchange.

 

* Web3 Wallet service powered by Nvio El Salvador. 


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