Krystal is a user-friendly Web3 wallet for everyone. On one app, you will get access to market insight tools and cutting-edge portfolio management, bridge and exchange tokens, participate in crypto token sales through its IDO launchpad, KrystalGO and generate passive income. Also, the wallet lets users earn rewards and points via in-app activities as part of the loyalty program. Krystal Wallet presently supports DeFi (Decentralized finance) services on eleven blockchain networks, such as Polygon, Ethereum, Fantom, BNB Smart Chain, Cronos, Solana, Avalanche, and more. You can explore Krystal on mobile and web apps.
Features of the Krystal Wallet
Krystal is a project that has raised capital of about 6.6 million dollars from popular funds in Crypto. So why does the wallet have high expectations? Let’s learn about some of its notable features:
Administrations
Watch Wallet (wallet monitoring) and Import Wallet (wallet set up/restore) are two notable administrative services of Krystal. For Watch Wallet, you can monitor funds comprehensively. Also, you can register or connect Krystal with the supported wallet via the Import Wallet features.
Earn
The wallet provides earn features to assist users in accessing the savings platforms like Compound, Aave, or Venu on the Krystal app. All the apps have separate interest rates for users based on their requirements.
Swap
The developers of the Krystal Wallet Extension have created it to connect to different liquidity protocols running on chains like Quickswap, Kyber Network, PancakeSwap, and Uniswap. From there, traders can trade with more crypto token swaps. Krystal will support more protocols in the future to provide the best exchange rate to the users.
Krystal Points
Another notable feature of the wallet is that you can collect points via successful transactions performed on the wallet. One can convert this Krystal accumulation into the token of the chain that they can use.
Guide to Set Up the Krystal Wallet
Krystal provides both mobile and web apps. You can install the wallet app on the website or your smartphone with Android or iOS operating systems.
- To begin, you must launch the Krystal Wallet app on your desired device.
- On the home screen, you will see two options: Create Wallet and Import Wallet.
- If you have an account and wish to restore it, hit the Import Wallet tab and specify the recovery phrase.
- If you’re new, select the Create Wallet option to set up the wallet.
- On the next screen, provide the referral code and hit the Confirm button.
- After this, the interface will show the Passphrase (or PIN) to the Backup Key. The passphrase is essential to complete the wallet setup process; you should note it down.
- Then, you will see a 12-word seed phrase divided into three turns. Every turn consists of four words; after every turn, hit Next.
- After securing the phrase, you must confirm that you have taken the phrase by providing the missing words.
- Next, you should generate a safety PIN with six-digit to complete the process.
- That’s all; your Krystal Wallet is ready for top-up, swap, and explore.
Benefits of Using Krystal Wallet
The development team behind Krystal has also created Kyber Network, a successful project in Vietnam. The wallet has many advantages, particularly:
- The wallet has plenty of features in DeFi (decentralized finance), like wallet, AMM or lending, etc. Hence, users can manage their assets or portfolio on the app.
- Krystal became an aggregator rather than AMM to obtain more liquidity, assisting when swapping huge orders and preventing slippage.
- Krystal is a non-custodial crypto wallet that doesn’t hold users’ funds. This assists users in preventing the losses of their passive investments. A significant advantage compared to transacting assets to exchanges where you can lose assets with market fluctuation or others.
Frequently Asked Questions
Ques: How can I execute transactions on Krystal Wallet?
Ans: Initiating transactions on the Krystal Wallet app is quite easy:
- To fund the wallet: hit the Receive tab and select the Copy or Barcode option. Select the currency and provide the amount.
- Transact assets: Select the Chain Wallet option, specify necessary details like amount and destination address, and adjust the gas fee. After this, hit the Transfer tab to complete the transaction.
Ques: How do I swap assets on Krystal Wallet?
Ans: Sign in to your Krystal Wallet to initiate the swap order and hit the Swap tab.
- Choose Blockchain and your desired wallet.
- Then, specify the number of tokens you wish to convert.
- Choose the floor. It will help you select a suitable exchange for each token.
- If you are happy with the exchange rate, hit the Cog icon to customize the gas fee & loss rate.
- After this, press the Swap button and wait for confirmation.
Ques: How do I explore my Krystal Wallet?
Ans: The Explore feature of the Krystal Wallet lets users join supported DeFi projects.
- Hit the Explore button on the homepage.
- You will see three key sections for present and future featured programs. Attachment of four utilities (earn, transact, swap, Krystal Point).
- Choose the desired DApps (decentralized application) you wish to connect based on your requirements.
