Ever wondered how you can track all your crypto holdings across multiple chains in one dashboard? DeBank may just be what you need!
In the first part of our beginner’s guide about DeBank, we’ll be going through what DeBank is. On top of that, we’ll explore how it works, and how to use its functions.
In a nutshell, DeBank is a DeFi project. It enables retail crypto investors to access the DeFi landscape. DeBank has a number of offerings. Let’s run through them below:
To reiterate, this project is known for its DeFi dashboard. It doesn’t just track your crypto holdings in your wallet and DeFi protocols. It tells you how many tokens you’re staking. To add on, it tracks your rewards from DeFi protocols. It can even tell you how many NFTs you’re holding. Summing it up, it’s just a really useful and convenient tool. You can even use DeBank to snoop on other wallet addresses too!
However, it’s not just the retail audience noticing its potential. Many Venture Capitalist (VC) firms recognize this as well. That’s why the team is able to raise a total of $25 million from VCs. Notable VCs include Circle Ventures, Crypto.com Capital, Coinbase Ventures and so forth.
It just aggregates data from multiple block explorers. Although it can get data on your portfolio, it cannot access your funds. This protects your privacy and ensures your funds remain secure.
In turn, you get a comprehensive view of all your assets. So, how do we use the dApp?
Luckily for us, the dApp is very simple to use. Once you’ve logged in to the site, you get an overview of your profile. As of now, DeBank supports Rabby, Metamask, and Coinbase wallets. You’ll need either one of these three wallets to connect. Then, you should see an interface similar to the screenshot below.
Let’s use a sample address here. Immediately, you get a bird’s eye view of where your funds are. From the above, you can see the address owner has the majority of funds on Arbitrum.
Scrolling down a little more, you get more information on the address. From the above, you can see that the address received an airdrop of 1,625 $ARB tokens. Also, it’s got some $GLMR token rewards from Moonwell too.
Isn’t the portfolio tracker wonderful? You’ll never lose track of your funds again. Just log in to DeBank and you’ll know exactly where every token you own is at. Yet, this isn’t all that the dApp has in store.
The dApp also has a “Stream” tab that you can click on. Stream serves to create a Web3 social media platform. Each user can create posts, repost other’s content, like and follow other users. It’s like a mini Twitter within DeBank! What’s more, you get to receive contribution rewards. So the more you use Stream, the more rewards you get!
Lastly, you can use the dApp to view your recent past transactions too. You can simply click on the “Transactions” tab on your profile page. You’ll get the data for your most recent transactions. Also, you can view the NFTs you’re holding in your wallet. Click on the “NFT” tab in order to view them.
We’ve come to the end of the first part of our two-part article series on DeBank! This is pretty much the basic stuff. So, stay tuned for Part Two, where we’ll be diving deeper into the dApp and the project.
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