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In this tutorial, we'll walk you through the process of setting up and utilizing the Crypto.com DeFi Wallet, providing step-by-step instructions for beginners.
1. Download and Setup
Begin by downloading the Crypto.com DeFi Wallet app from either the Apple App Store or Google Play Store. After installation, open the app and select "Create a new wallet." Review and accept the terms of service and privacy notice. Proceed by entering and confirming a secure 6-digit passcode.
2. Backup Your Wallet
Safeguard your assets by backing up your wallet. Choose "Back up now" and select the "by writing down" method. Carefully note the twelve-word recovery phrase in numerical order and store it securely.
3. Verify Your Backup
Confirm the accuracy of your recovery phrase by selecting the correct words in sequence.
4. Explore Main Functions
Discover the primary functions of the Crypto.com DeFi Wallet. To receive transactions, navigate to the "Receive" section, select your desired coin, and share your wallet address or QR code with the sender. For sending crypto, access the "Send" section, input the recipient's address, specify the amount, and confirm the transaction with your passcode. Customize gas fees according to your preference for transaction speed and cost efficiency.
5. Unlock Advanced Features
Delve deeper into the wallet's capabilities by exploring its integrated ETH gas meter for real-time gas price updates and setting up custom gas price alerts. Manage tokens, create or receive Non-Fungible Tokens (NFTs), seamlessly swap tokens, and access decentralized applications (DAPPs) via the browser page.
6. Earn Passive Income
For those seeking passive income opportunities, stake your assets on the Earn page and capitalize on potential rewards.
Congratulations on mastering the Crypto.com DeFi Wallet! We hope you found this instruction valuable in navigating the world of decentralized finance. Cheers!