XDEFI is a browser extension wallet that allows users to interact with multiple blockchain networks including Ethereum, Avalanche, Binance Smart Chain, Polygon, Terra, etc. Users can use the wallet to send/ receive, swap, buy/sell assets, stake (only XDEFI coin), and store assets and NFT. It is the first multichain wallet that comprises a built-in DEX/Bridge aggregator. The wallet allows you to access and interact with more than 9,000 dApps from different supporting networks. It is currently available on Google Chrome & Brave (soon on Firefox).
So, in this article, we will explain how you can install, set up, and use the XDEFI wallet.
To install the application, visit the XDEFI official website. You will find the Download button on the homepage.
Click on it, and it will redirect you to the page
Click on the Add To Chrome button, and the wallet application will ask for your permission to add the application to your browser extension. Provide your approval to install the application.
Once done, you will find the below icon in your extension bar.
Set Up XDEFI
Once the application is installed, you can set up your account to use it. Click on the application icon to show the various setup options. The application allows you to set up your wallet by using these three methods:
- Create XDEFI Wallet
- Restore XDEFI Wallet
- Connect Hardware Wallet
Create XDEFI Wallet
New users can create a wallet by choosing this option. Creating a new XDEFI wallet simply requires you to follow the below 6 steps:
- Set the wallet’s password.
- The application shows the backup phrase. Store it safely.
- Verify your backup phrase
- Set up the wallet’s name
- Enable/ disable the option to make XDeFI your default wallet
- Enable/ disable supported blockchain networks
Once you have completed the above 6 steps, you can see the wallet’s landing page on your screen.
Using the restore wallet option, users can import their existing wallet to a new device. To restore, you mandatorily need the backup phrase, otherwise, you will not be able to recover your wallet or funds.
XDEFI allows the users to restore their wallets by giving the backup phrase, private keys, or JSON file.
Connect To Hardware Wallet
XDEFI wallet allows the users to connect their ledger device with the wallet application. Users can store supporting assets in their ledger device and access them whenever required by connecting with wallets.
Below are the common steps that users need to follow to work with Ledger:
- Plugin your device (ledger) to the computer through the USB port
- Unlock your Ledger by giving a PIN
- Make sure the blockchain application you wish to work with is installed and updated
Using the send option, you can transfer assets to other users. Since the wallet application supports multiple networks, users need to first select the network of the associated coin/token (you can find the network selection option from the drop-down at the top of the page).
Now select the asset, and click on Send. Fill few mandatory details to initiate the transaction i.e the recipient address, and the amount of coin that you wish to send.
Confirm the process.
Using Receive, you can check your public or receiving address. You can use that address to receive assets in your account.
See the list of a few supporting coins along with the network on the wallet landing page. You can directly click on the coin appearing on the wallet interface to get the receiving address.
XDEFI allows users to buy crypto through the wallet. However, the buying feature is supported by Ramp.
To buy, first, select the coin, and then click on Buy. It will redirect you to the Ramp portal where you need to again select the coin that you wish to buy from the drop-down.
Next, select your preferred currency and fill in the amount that you wish to spend on buying.
The platform will next ask you to fill in your email and verify it. In the next step, the application will ask you to fill in the address where you wish to receive the coin.
In the final steps, the application will ask you to fill in your billing/card details. The platform may ask you to undergo a KYC verification process. Once all the steps are done, you will be able to get your coins.
XDEFI allows the users to save their frequent contacts in the address book.
To add a contact, go to Contacts-> Add New Address. Now fill in the below three details:
- Wallet Address
- Wallet Holder Name
Save the details, and you will find that the address has been saved in your contacts.
The wallet management section offers you the below option using which you can manage your wallet.
- Connect To Hardware Wallet- We have already explained
- Import Wallet- check the Restore Wallet section
- Backup All Wallet (XDEFI Wallet)- Using this option you can download the JSON file
From the XDEFI Setting section, you can set up the following features:
- Require Password For Transactions- Enable/disable the option to provide a password for transactions
- Autolock- Enable/disable option for wallet auto-lock
- Change Login Password- change login password here
- Chain Management- Enable/disable supported networks
- RPC & Node URLs- do not change this option until you have proper knowledge
- dApps Permission Management
- Token Approval
- Currency- set preferred currency here
- Hide Balances Below- hide balances below a certain amount (you can set the amount)
As we have said earlier XDEFI wallet is a multi-chain wallet. At any time users can switch from one network to the other by following the steps shown in the below screenshot.
The XDEFI wallet supports a multichain DEX aggregator feature within the wallet, due to which users will be able to swap any supported assets from the different blockchain networks.
Follow the below steps to perform a swap activity:
- In the Pay field, select the source coin that you wish to swap, and enter the amount
- In the Receive field, select the coin that you want to get. The app will display the amount you will receive in return
- Review and confirm the process
You can change a few parameters like slippage tolerance, infinite approval, and custom recipient from the settings tab.
You can store and manage your NFT here.
You can check your transaction activities here. Users can also filter the transactions based on the network.
XDEFI users can stake the platform native coin and can earn a reward as well as NFTs. To stake, users can put any amount and the coins will be locked for a staking period of 15 / 30 / 45 or 60 days. Your rewards will be directly proportional to the amount of staked coins and the staking period.
In addition, XDEFI stakeholders will receive an NFT known as bXDEFI (XDEFI Badge) that depicts your staking position. Each staking position has several credits, and depending upon it users will fall into the 13 different predetermined bXDEFI tiers with 1 being the lowest and 13, being the highest.
You can see the NFT in your wallet also.
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