Now you can interact with Ethereum-based DApps using the Bitcoin.com Wallet. That means you can earn interest on your cryptoassets, trade using decentralized exchanges, participate in NFT marketplaces and much more.
What is WalletConnect?
WalletConnect is an open-source protocol that acts as a bridge between DApps and crypto wallets. Once you’ve approved the connection between your wallet and a DApp via WalletConnect, the DApp can send transaction requests to your wallet, which you must then approve or deny. You can find more information about WalletConnect here.
How do you connect to DApps in the Bitcoin.com Wallet?
Just go to any DApp’s website, locate the “Connect” or “Sign in” button and select WalletConnect as the connection / sign in method. This brings up a QR code and a link.
Then, in the Bitcoin.com Wallet, tap the QR code icon on the home screen and either scan the DApp’s QR code, or paste in the link.
Once you confirm via the wallet, you’ll be connected to the DApp. This will enable the DApp to see the contents of your Bitcoin.com Ethereum wallet and to send you transaction requests, which you both initiate (via the website) and approve or deny (via your wallet).
You can also connect to DApps via WalletConnect with the desktop/web version of the Bitcoin.com Wallet.
Is connecting to DApps safe?
Using WalletConnect to connect to DApps is safe in the sense that it establishes a secure (encrypted) connection, with your approval, between your Bitcoin.com Wallet and the DApps of your choosing, and it does not reveal your private key. 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. These are outlined here.
What can DApps do?
Ethereum-based DApps are primarily used for money-related activities. For example, UniSwap and SushiSwap are widely used decentralized exchange apps. Compound, which is a borrowing and lending app, can effectively act as a savings account where you earn interest without trusting a third party with your funds. Recently, NFT marketplaces like OpenSea and SuperRare have become popular DApps. With these, you can buy and sell NFT-based artwork and collectibles, some of which integrate elements of gamification, perpetual royalties to the artist, and so on. You can browse through recommended DApps in the Bitcoin.com Wallet app’s Discover tab or find a comprehensive list here.