Do you need a web 3 wallet?
If you’ve been gathering knowledge about NFTs or the crypto craze, you’ve probably heard of web3 wallets. To buy NFTs or crypto-based products, you will need a wallet. What makes a web 3 wallet different? Why do you need one? Read along to discover the answers.
Understanding What a Web 3 Wallet is:
One thing that makes web 3 wallets unique is they are non-custodial. This means there is no bank or middle man associated with them. The owner of the web 3 wallet has complete control of their funds and is in charge of keeping account information safe. Another way to put this is self custody. Other crypto wallets do exist but web 3 wallets offer a different usability experience.
Web 3 wallets allow users an ideal experience to connect with the blockchain that crypto applications run on. Examples of these applications are gaming, Non-Fungible Tokens (NFTS), decentralized Finance (DeFi), and more. There is no KYC or AML processing with web 3 wallets so the privacy of users is fully preserved.
Web 3 Wallet Options:
Different web 3 wallets deal with different cryptocurrencies. The currency the wallet deals with is determined by the blockchain it is associated with. Currently, Meta Mask is one of the most popular web 3 wallets. Meta Mask is associated with the Ethereal blockchain, therefore it serves as an Ethereal wallet.
Meta Mask is not the only web 3 wallet available. There are countless options out there. Finding the right web 3 wallet for you can depend on what you want to use it for. Some provide a higher holding limit and some pair better with different sectors or applications. Do the research and find what is going to be the best for you.
To learn more about web wallets, NFTs, or crypto, check out our other blogs.