Step by step guide : MultiversX DeFi Wallet web extension

Sommaire :

In previous guides, we have seen how to create a wallet on xPortal, or how to create one directly on the MultiversX website. We’ll now look at how to create an extension wallet and how to use it, and we will see how easy it is!

What is the MultiversX DeFi Wallet web and how to install it?

The MultiversX DeFi Wallet is an MultiversX web extension,like MetaMask, that can be added to Chrome browsers and Firefox. It enables users to securely store EGLD and ESDT tokens on the MultiversX Network, send transactions and smart contract calls and sign messages, i.e. for xExchange operations.

Firstly, install the Defi Wallet extension on your browser :

If you are using Chrome, click here and here for Firefox users
You just need to add the extension which will now appear in the top right-hand corner of your browser. If it doesn’t, click on the puzzle piece and you’ll see it.

From now on, we can either create a new wallet, or import a previously created seedphrase.
For this tutorial, we will create a new one. So, click on Create new wallet!

24 words will be displayed, your secret phrase! Write them down on a piece of paper, never to be lost or shared with anyone! Tick the little box and click on continue. The extension will ask you for 3 of these 24 words to finalize wallet creation. Write them down than click on Continue.

You will now be asked to choose a password to secure the extension.
Discover some important rules when creating a new password here.
Create your password, confirm it, than click on Continue.
Congratulations! You have set up your new wallet into the MultiversX web wallet extension!

How to use the MultiversX DeFi wallet web extension

We’re going to want to use the new wallet, but to do so, we’ll need a little of $EGLD to pay the network’s transaction fees. Since fees are so low on this blockchain, all we need is a few cents in EGLD. We’ll send a bit more for the example, so that we can make a swap on xExchange and understand how it works.

We have a tutorial on how to buy egld here, but you can also go through any centralized exchange such as Binance.

To receive egld, click on Deposit and copy the address shown at the bottom. You’ll need to send your EGLD to this address. On Binance, go to Wallets > Withdraw > EGLD > than paste the address there and select MultiversX as network.

Depending on where you send your EGLD from, the transaction can take from a few seconds from another MultiversX wallet to a few minutes from an exchange. Once received, they will appear in your wallet, on the first tab. You can also check on the MultiversX explorer.

Swapping EGLD to another token

We’ll now use the wallet to exchange some EGLD for USDC on xEchange.
Go to xExchange and click on the Connect button in the top right-hand corner and select MultiversX DeFi Wallet. Your wallet will then open and ask you to click on continue, then select your wallet.
Click continue several times after reading the xExchange instructions, and let’s get on with the swap!

Go to the swap tab. In the next window, start by entering the amount of EGLD to be swapped (1) (Don’t swap the maximum amount of EGLD or you won’t be able to pay the network fees. Keep a minimum of 0.005).
Then select USDC in 2 and click on Swap in 3. A summary will appear. If the information is correct, confirm.

Your wallet will open itself and ask you to confirm and sign the transaction. Proceed by clicking Next and then Confirm.

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We were able to exchange EGLD for USDC quickly and easily using the Defi wallet!
The tokens now appear in the second tab of your wallet!
You can use the DeFi wallet for most dApps on MultiversX! You can also import the same private key as your xPortal, so you can have your wallet on your smartphone as well as on your PC!


Useful links:

Website: https://multiversx.com
Github: https://github.com/multiversx
Twitter: https://twitter.com/multiversx
MultiversX DeFi web wallet for Chrome
MultiversX DeFi wallet for Firefox

If you want to join us on Discord for more info or support us:

xPortal
erd1fwjgmzjkhv30rruxfnaukhx62my52nzf088r9uuaxzshmdnxnveshuu0qq
MetaMask
0x2335C948F1F923eb76492C129855705c3Cfc8Cc0

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