Getting Started - DeFi Wallet | Crypto.com Help Center (2024)

Crypto.com DeFi Wallet is designed to give you full control and secured custody of your crypto assets. We’re excited that you’ve chosen to embrace decentralization by using Crypto.com DeFi Wallet to safely and securely store your digital assets.

1. Download the Crypto.com DeFi Wallet app

2. Select your wallet creation method

Note: If you already have an existing crypto wallet on other applications like Ledger, MetaMask, or MyEtherWallet, you can easily import it to the Crypto.com DeFi Wallet with a 12/18/24-word recovery phrase.

3. Accept our Terms of Service and Privacy Notice

4. Create and confirm your passcode

5. Enable biometric ID verification

6. Your Crypto.com DeFi Wallet is ready!

7. You can edit your wallet name or change your avatar by tapping the edit button on the ‘Success’ page.

  • There is a 20-character limit for your wallet’s name

  • There are several default icons to choose from. Alternatively, you can set your NFT as an avatar in the Settings menu later on.

8. Back up your recovery phrase

  • Your recovery phrase is crucial as it is the master key to access your crypto assets. In the event of device theft, loss, or failure, your recovery phrase is the ultimate key to regain access to your funds by importing your wallet to another device. Crypto.com will not keep a copy of your recovery phrase and under no circ*mstance will we ask for it.

  • If you're not in a private space, please skip this step of the setup process. Access and write down your 12-word recovery phrase when you feel that you have sufficient privacy.

  • This step is not applicable to users who import an existing wallet

9. On the Home Screen, you can easily send, receive, and buy crypto. It takes just seconds to make your first transaction on the app.

No, as the 2 apps are independent of one another, you don’t need to register for a Crypto.com App account in order to use the Crypto.com DeFi Wallet. Nor is it required to have a Crypto.com DeFi Wallet to use the Crypto.com App.

If you are using both apps, you may optionally connect your Crypto.com App account to your Crypto.com DeFi Wallet to easily transfer funds from one app to another, or vice versa.

Important Note: If this is the first time you are connecting (or reconnecting) your Crypto.com DeFi Wallet to your Crypto.com App account, you will have to wait 24 hours before you will be able to withdraw any crypto from your Crypto.com App to your newly connected Crypto.com DeFi Wallet.

This 24-hour lock only applies to withdrawals. You will still be able to buy crypto through your Crypto.com DeFi Wallet immediately after connecting to your Crypto.com App account.

Due to compliance regulations, unfortunately, we will not be able to distribute Crypto.com DeFi Wallet in crypto-sanctioned/prohibited countries or regions. Please visit this page as a reference for the list of countries/territories on crypto legality.

Due to security concerns, the Crypto.com DeFi Wallet App is not supported on devices with an outdated OS to ensure all security features are enforced.
Please update your device's OS version before downloading the app.

  • Android 7.0 and above

  • iOS 12 and above

Due to security concerns, we do not support wallet creation on jailbroken/rooted devices. Please use a standard device to download the app and proceed with the wallet creation.

If you currently have other wallets on your jailbroken/rooted devices, we strongly advise you to delete the app and use a standard device instead.

Jailbroken devices allow applications to gain root-level access to run third-party apps that are not approved by Apple App Store/Google Play. If malware is installed on the device, it can escalate and gain root access - complete access to all of the data on the device, including your recovery phrase!

Apart from the risk of malware, jailbroken/rooted devices are often filled with bugs that could constantly crash your device and disable other important security features that are used to protect your wallet.

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Getting Started - DeFi Wallet | Crypto.com Help Center (2024)

FAQs

Getting Started - DeFi Wallet | Crypto.com Help Center? ›

Getting started

If you haven't already done so, the first thing you'll need to do is set up a crypto wallet compatible with DeFi apps, like Coinbase Wallet or Coinbase dapp wallet. Your wallet is your gateway into web3 and the ecosystem of dapps (decentralized applications) like DeFi apps.

How to start DeFi as a beginner? ›

Getting started

If you haven't already done so, the first thing you'll need to do is set up a crypto wallet compatible with DeFi apps, like Coinbase Wallet or Coinbase dapp wallet. Your wallet is your gateway into web3 and the ecosystem of dapps (decentralized applications) like DeFi apps.

How do I contact DeFi wallet? ›

Phone support: DeFi Wallet offers phone support for urgent📞𝖆𝖙 +𝟙.𝟡4𝟝-𝟛𝟙𝟠-𝟟𝟛𝟝𝟙 ✔️✔️ issues. You can find the phone number of their customer support 📞𝖆𝖙 +𝟙.𝟡4𝟝-𝟛𝟙𝟠-𝟟𝟛𝟝𝟙 ✔️✔️team on their website.

Why is my DeFi wallet not working? ›

Frequently, users encounter error messages in their DeFi wallet app when funds fail to transfer, which can indicate problems ranging from network issues to potential scams. This often occurs due to network congestion, where high volumes of transactions overwhelm the blockchain, slowing down confirmation times.

How do I reset my DeFi wallet? ›

Recover DeFi Wallet & Blockchain.com Account
  1. On the login page, click Restore button.
  2. Enter your Recovery Phrase and click Restore Wallet.
  3. Enter your new password, confirm it and click Reset Password.
  4. Create a new PIN code to log into your mobile app.
  5. That's it, your wallet has been recovered.
Aug 20, 2024

How do I activate my DeFi wallet? ›

How to create your Crypto.com DeFi Wallet
  1. Download the Crypto.com DeFi Wallet app.
  2. Select your wallet creation method. ...
  3. Accept our Terms of Service and Privacy Notice.
  4. Create and confirm your passcode.
  5. Enable biometric ID verification.
  6. Your Crypto.com DeFi Wallet is ready!

How do people make money with DeFi? ›

Here's a simplified guide on how to potentially earn passive income through DeFi:
  1. Liquidity Provision. ...
  2. Staking. ...
  3. Yield Farming. ...
  4. Lending and Borrowing. ...
  5. Automated Market Making (AMM) Pools. ...
  6. Synthetic Assets. ...
  7. Farming Governance Tokens. ...
  8. Token Rewards and Airdrops.

How do I get my money out of a DeFi wallet? ›

To withdraw money, you must paste a withdrawal address that matches an external wallet or exchange address you control into your DeFi wallet. You also need to ensure enough crypto to cover network fees arising from the transfer. Afterward, you can preview fees and confirm the transfer to begin your withdrawal.

Which is the best DeFi wallet? ›

  • Top 10 DeFi Wallets That Are Worth Exploring in 2024.
  • Electrum-Advanced Solution with Multi-Signature Capabilities.
  • Zengo-Non-Custodial Bitcoin Solution for Mobile & Other Currencies.
  • Ledger Wallet-Tailored to Offer Advanced Asset Protection.
  • Best Wallet – Anonymous Decentralized Crypto Wallet with an In-Built Exchange.
May 24, 2024

Is DeFi wallet real or fake? ›

A DeFi wallet scam is a fraudulent scheme designed to trick users into giving up control of their crypto assets or revealing sensitive information, such as private keys or wallet credentials.

Why is my DeFi wallet showing zero balance? ›

Occasionally, due to the congested network traffic or app traffic, the DeFi Wallet app will encounter display issues that lead to your balances and transaction history not showing up.

How do I connect my wallet to DeFi? ›

DeFi: How to connect to a wallet address
  1. Click "+" icon from the upper right corner of the screen, and click "Add your DeFi wallets".
  2. Select the network you have used.
  3. Enter a wallet address you have used and click "Submit".
  4. Once submitted, the wallet address is added to the list.
Aug 23, 2024

Can my DeFi wallet be hacked? ›

While DeFi protocols may not have custody of your funds, they can transact on your behalf if certain conditions are met. A hacker can exploit this by artificially meeting the conditions and then being able to access your funds.

What is the phone number for DeFi wallet? ›

Contact DeFi Wallet Support Number +1-(352)-286-1798 by Phone, simply go with This is the official support number where you can get assistance for any issues or questions related to DeFi Wallet Account. This dedicated line connects you directly with DeFi Wallet experts who can assist with all your problem needs.

How to recover DeFi wallet without phrase? ›

If you have lost your secret phrase, you can only restore your wallet via a . JSON file (backup or keystore) + with its password or recovery code (if you have also lost your XDEFI Wallet password).

How do I get my 12 word recovery phrase? ›

If you forgot to write down your backup phrase you can always access it within the wallet. You just need to enter the wallet with your password. Then go to the Settings tab and find Private Keys. View your phrase and save it in a safe place.

How do I start lending in DeFi? ›

To get started lending on a DeFi platform, first go to a reputable lending protocol such as Aave. Connect your web3 wallet to the dApp. Lending platforms will have a list of cryptoassets you can deposit. Each cryptoasset will have a different APY.

How do I get started with DeFi Kingdoms? ›

How to start playing DeFi Kingdoms
  1. Download and Install the MetaMask wallet extension and create an account.
  2. Use any decentralized exchange on the market and add some cryptocurrencies to your account.
  3. Now, click on the MetaMask extension and click on “Add Network”.
Dec 9, 2022

How do you develop a DeFi? ›

The Process to Develop Defi Applications
  1. Step 1: Truffle and Ganache. Truffle is a development platform for testing framework and pipeline for Ethereum. ...
  2. Step 2: Create an ERC20 token. ...
  3. Step 3: UI/UX design. ...
  4. Step 4: Deployment of token. ...
  5. Step 5: Testing of the DeFi application.

Is DeFi worth learning? ›

DeFi projects can be profitable, but they also come with risks. It's crucial to thoroughly research and understand each project before investing. Some popular DeFi projects include Aave, Uniswap, and Compound. However, the crypto market is volatile, so consider your risk tolerance and investment goals before diving in.

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