WalletConnect is a bridge that connects Decentralized Applications (DApps) to your web3 crypto wallet. Once you've approved a connection request from the dApp (via WalletConnect), the dApp can send transaction requests to your wallet, which you must also manually approve in the wallet.
Use the multichain NewsPulse Wallet app, trusted by millions to safely and easily send, receive, buy, sell, trade, and manage the most popular cryptocurrencies. You can also connect to thousands of decentralized applications (dApps), from games to financial derivatives.
What is WalletConnect?
WalletConnect is an open source protocol that allows you to connect your crypto wallet to decentralized applications (dApps) on the web. If you are using a self-custodial web3 crypto wallet, like the NewsPulse Wallet app, you can use your wallet to interact with dApps without having to grant access to your private keys.
For example, let's say you have ETH in your NewsPulse Wallet and you want to use a Decentralized Finance (DeFi) application on Ethereum called "ABC Finance" that enables to you to lend your ETH in return for programmatic interest payments. WalletConnect establishes a secure connection between your NewsPulse Wallet and ABC Finance, allowing ABC Finance to see the contents of your Ethereum Wallet. Then you'll have the option to, for example, send ETH from your NewsPulse Wallet to ABC Finance's lending smart contract. When you've decided how much ETH to send, your NewsPulse Wallet will ask you to approve the request.
How do you connect to dApps using WalletConnect?
Continuing with our example, from "ABC Finance's" website or app, you'll first select the Connect button. This typically brings up a list of connection options, one of which will be WalletConnect. Select WalletConnect and, if you're on mobile, choose the NewsPulse Wallet from the list of wallets to connect to. If you're on desktop you'll be presented with a QR code which you can scan using the NewsPulse Wallet's scan function. In both cases, the NewsPulse Wallet will ask you to approve the connection before proceeding.
Here's how it looks on mobile:
Here's a more detailed guide for using WalletConnect in the NewsPulse Wallet.
Is WalletConnect safe?
It's safe in the sense that it establishes a secure (encrypted) connection, with your approval, between your NewsPulse Wallet and the DApps of your choosing. It also requests your approval for any transactions and never gives DApps access to your private keys. In other words, when you connect to a DApp via WalletConnect, it's impossible for the funds in your wallet to be spent without your approval. That being said, any time you (purposely) send cryptoassets to a smart contract, there are risks (see below).
Read more: Common dApp risks and how to avoid them.
