Web3 Wallet and CEX Guide

1. Basic Knowledge of Web3 Wallets

1. What is a Web3 wallet?

A Web3 wallet is a decentralized digital asset management tool used for storing, managing, and trading cryptocurrencies and other digital assets, as well as interacting with decentralized applications (DApps). Different from traditional bank accounts, Web3 wallets leverage the decentralized nature of blockchain technology, enabling users to own their private keys and have full control over their assets without relying on centralized institutions such as banks or Alipay. Its core features include:

• Decentralized control: Assets are stored on the blockchain, and transactions are completed through private key signatures (completely different from the account - password model of Web2).

• Cross - chain interaction: It supports the switching of multiple blockchain networks such as Ethereum, Solana, and Polygon.

• DApp entry: It is the core tool for connecting to decentralized exchanges (such as Uniswap) and NFT markets (such as OpenSea).

2. Core Functions of Web3 Wallets

Function	Description
Private key and mnemonic phrase management	Generate and protect a 64 - bit private key or 12/24 mnemonic phrases (the unique password to control assets).
Asset storage, transfer, and trading	Support the storage, transfer, and receipt of digital assets such as cryptocurrencies (BTC, ETH), stablecoins (USDT), and NFTs.
Smart contract interaction	Connect to decentralized applications (such as DeFi platforms and NFT markets) through the wallet to participate in on - chain operations such as DeFi staking, liquidity mining, and DAO governance.
Cross - chain network switching and Gas fee management	Customize the Gas fee (network handling fee) to adjust the transaction speed and support multi - chain switching (e.g., from Ethereum to Polygon).

3. What are the differences between Web3 wallets and Web2?

In the Web2 network, users register and log in to various applications using their mobile phones. In the Web3 world, users use digital wallets to explore the cryptocurrency world and manage digital assets. Digital wallets are one of the entrances to explore Web3.

Aspect	Web2	Web3
Asset control	Platforms hold funds and can freeze accounts.	Users hold their private keys and have full autonomous control over assets.
Account recovery	Retrieve passwords using mobile phone numbers or ID cards.	Recover only through mnemonic phrases (no third - party rescue channels).
Transaction transparency	Centralized ledger with high privacy.	Publicly searchable on the chain (through block explorers such as Etherscan).
Handling fee logic	Fixed rate set by the platform.	Dynamically adjust the Gas fee (users can customize the priority).

Web3 wallets give users full control over their assets, but they also require users to have a higher sense of security and adapt to the habit change from Web2 to Web3. From installation to trading, users need to always follow the three principles of 'offline storage of mnemonic phrases, cautious authorization, and verification of links'.

• Self - custody of assets: No longer rely on the 'forgot password - retrieve password' process. Everything depends on the mnemonic phrase. Users need to establish habits of physical backup and multi - factor verification.

• Transparent transactions: All operations are searchable on the chain. Learn to use block explorers such as Etherscan.

• Risk pre - assessment: Confirm the Gas fee, address, and authorization amount for each transaction, and learn to use block explorers (such as Etherscan) to verify the security of contracts.

4. Comparison Table of Mainstream Web3 Wallets

Wallet Name	Platform	Supported Chains	Security	Suitable Users
MetaMask	Browser/Mobile	Ethereum and EVM - compatible chains	Hot wallet + encrypted mnemonic phrase	Beginners in DeFi/NFT
Okx Wallet	Mobile	Over 90 chains (including BNB Chain)	Open - source code + biometric recognition	Multi - chain traders
Coinbase Wallet	Mobile/Plugin	Ethereum, Solana, BTC	Institutional - level encryption + compliance	Conservative users who value security

5. Security Precautions

1. Management of Mnemonic Phrases and Private Keys

• Mnemonic phrases: They are the only凭证 for wallet recovery. It is recommended to engrave them on a metal plate or write them down by hand and store them in a safe. Do not take screenshots or store them in the cloud.

• Private keys: Generated from mnemonic phrases, never disclose them. If the wallet provides an 'export private key' function, use it with caution.

2. Prevention of Common Risks

• Phishing attacks: Be vigilant against fake wallet official websites. Only download wallets through official channels.

• Authorization risks: Limit the token authorization amount for DApps (e.g., only approve the actual trading volume instead of unlimited authorization).

• Transaction confirmation: Check the first/last 4 characters of the recipient address (to prevent clipboard viruses).

3. Emergency Handling

• Forgot password: You can re - import the wallet through the mnemonic phrase (the password is only used for local unlocking and does not affect assets).

• Lost mnemonic phrase: Assets will be permanently lost, and there is no official channel for recovery.

2. Installation and Usage Tutorial of Web3 Wallets

Wallet 1: MetaMask (Browser Plugin) Installation Tutorial

MetaMask is a web browser extension and mobile application used for managing Ethereum private keys. In this way, MetaMask can act as a wallet for Ether and other tokens and also allows you to interact with decentralized applications (dapps).

Step 1: Download and Installation

1. Visit the official website: https://metamask.io/download → Select the installation version (Browser Extension/Mobile App/Web version) and click to install. (take the Chrome browser as an example).

   
2. On the Chrome Web Store plugin page, click 'Add to Chrome' to install the MetaMask browser plugin.

   

Step 2: Create a Wallet

1. After the MetaMask plugin is installed, it will automatically open the plugin webpage. Follow the prompts to create a wallet: Click 'Create a new wallet' → Set a password of more than 8 digits (for local unlocking).

   
2. Back up the Secret Recovery Phrase: On the 'Secure wallet' page, write down the 12 mnemonic phrases with pen and paper. On the 'Confirm secret recovery phrase' page, fill in the missing mnemonic phrases for confirmation to complete the mnemonic phrase operation. You can view the mnemonic phrases on the plugin 'Settings > Security & Privacy' page later.

   

Step 3: Add Networks and Tokens

1. Add a network: Click the MetaMask plugin at the top. By default, the Ethereum main network is displayed. You can add an existing network or input the target chain parameters to add a network.

   • Add an existing network: 'Select a Network' → Select an existing network and click 'Add'.

     
   • Custom network: 'Select a network' → 'Add a custom network' → Input the target chain parameters to add. You can find the network parameters of common EVM chains at https://chainlist.org/.

     
2. Import tokens: On the asset page, click 'Import tokens' → Input the contract address (obtained from a blockchain explorer or a trusted source such as CoinGecko). (Take the USDT Token on the ETH network as an example).

   

Step 4: Asset Management

• Check the balance: Click the MetaMask wallet plugin. The home page that pops up shows the balance of each token (you need to add the corresponding tokens to the asset list).

  
• Receive tokens: Click 'Receive', copy the wallet address, or display the QR code for others to transfer.

  
• Send tokens: Input the recipient address and amount, confirm the Gas fee (network handling fee), and then sign the transaction.

  • Transfer to others: Click 'Send' → Input the recipient address → Select the token and quantity → Sign and confirm → Wait for the on - chain block confirmation to complete.

    
  • Transaction confirmation and tracking: After submission, check the status on the 'Activity' tab of MetaMask. You can also click on the transaction record to view the detailed transaction record on the chain.

    

Step 5: Interaction with Dapps

Case 1: Buying NFTs

1. Visit an NFT market such as OpenSea, click 'Connect wallet', select MetaMask, and sign the connection request (a signature window will pop up in the wallet).

   
2. Browse NFTs, select an NFT and pay. Confirm the Gas fee and complete the transaction.

   

Case 2: Using Uniswap to Exchange Tokens

1. Connect the wallet: Visit uniswap.org → Click 'Launch App' → Click 'Connect Wallet', select MetaMask → A signature request will pop up in the wallet → Click 'Sign' to complete the connection (no fee is required).

   
2. Exchange tokens: Select the input token (e.g., ETH) and the output token (e.g., USDC) → Input the quantity → Click 'Review'.

   
3. Transaction confirmation: In the pop - up window, confirm the transaction information, exchange rate, and slippage. Then click 'Swap'.

   
4. On - chain signature confirmation: A window will pop up in the MetaMask wallet. Click 'Confirm' to confirm the signature and complete the transaction. After the transaction is completed, you can view the purchased USDT Token on the wallet page.

   

Wallet 2: OKX Web3 Wallet Installation and Usage Tutorial

The OKX Web3 wallet is a non - custodial, decentralized multi - chain wallet. It has a built - in transaction aggregator DEX for cross - chain coin swapping, a one - stop on - chain investment tool DeFi (Web3 earning coins), a heterogeneous multi - chain aggregated trading platform (supporting Crypto, Ordinals, NFT), and a DApp discovery function. Through the OKX Web3 wallet, users can not only perform operations such as transfers, storage, and balance inquiries, view transaction records and block information, but also easily access more than 1,000 DApp protocols. It is a real one - stop Web3 entrance.

• OKX Web3 wallet installation and usage tutorial:

  • Web version:https://web3.okx.com/help/how-do-i-manage-my-wallet-web
  • APP version: https://web3.okx.com/help/how-do-i-manage-my-wallet-app
• OKX Web3 wallet coin - recharge tutorial:

  • https://web3.okx.com/tutorial/home/how-to-transfer-cryptocurrency
• OKX Web3 wallet Tutorial：

  • https://web3.okx.com/tutorial/home/essential-asset-security-guide

3. Cryptocurrency Exchange and C2C Tutorial

If you want to use a Web3 wallet for on - chain transactions, you first need to have cryptocurrency assets. The simplest way to obtain cryptocurrency assets is to buy them through a cryptocurrency exchange (CEX).

Common cryptocurrency exchanges include Binance, OKX, Coinbase, etc. The following are the tutorials for the Binance and OKX exchanges.

Binance

• Account registration and trading:

  • https://academy.binance.com/en/articles/binance-beginner-s-guide
• C2C tutorial:

  • https://academy.binance.com/en/articles/what-is-binance-p2p-and-how-to-use-it

OKX

• Download/Registration:

  • https://www.okx.com/help/how-do-i-register-an-account-on-okx
• Identity verification tutorial:

  • https://www.okx.com/help/how-do-i-verify-an-individual-account
• C2C coin buying/selling tutorial:

  • https://www.okx.com/help/how-do-i-sell-crypto-on-okx-p2p-trading

4. Security Notice

To protect your assets, please note:

1. The Web3 wallet and CEX exchange URLs mentioned in this tutorial are for reference only and may change over time.

2. Always verify links through search engines, official communities, or trusted platforms (e.g., CoinMarketCap/CoinGecko) before accessing them. Beware of phishing sites with similar URLs.

3. Never click on links from unverified emails, messages, or third-party sources to avoid private key/mnemonic phrase exposure.

4. Download tools via hardware wallets or official app stores. Perform test transactions with small amounts before handling large assets.

Security is paramount—stay vigilant at all times!