What is WalletConnect?

WalletConnect is an open-source protocol that allows you to connect your cryptocurrency wallet to decentralized applications (dApps) on the web. If you are using a self-managed web3 cryptocurrency wallet, such as the Bitcoin.com Wallet app, you can use your wallet to interact with dApps without having to grant access to your private keys.

For example, let's say you have ETH in your Bitcoin.com Wallet and you want to use a decentralized finance (DeFi) application on Ethereum called "ABC Finance" that allows you to lend your ETH in exchange for programmatic interest payments. WalletConnect establishes a secure connection between your Bitcoin.com Wallet and ABC Finance, allowing ABC Finance to see the contents of your Ethereum wallet. You will then have the option to, for example, send ETH from your Bitcoin.com Wallet to the ABC Finance lending smart contract. Once you decide how much ETH to send, your Bitcoin.com Wallet will ask you to approve the request.

How do you connect to dApps using WalletConnect?

Continuing with our example, from the "ABC Finance" website or app, you will first select the Connect button. This typically displays a list of connection options, one of which will be WalletConnect. Select WalletConnect and, if you are on mobile, choose Bitcoin.com Wallet from the list of wallets to connect. If you are on a desktop, you will be presented with a QR code that you can scan using the scanning feature of Bitcoin.com Wallet. In both cases, Bitcoin.com Wallet will ask you to approve the connection before proceeding.

Is WalletConnect safe?

It is safe in the sense that it establishes a secure (encrypted) connection, with your approval, between your Bitcoin.com Wallet and the dApps you choose. It also requests your approval for any transaction and never gives the dApps access to your private keys. In other words, when you connect to a dApp through WalletConnect, it is impossible for the funds in your wallet to be spent without your approval.