Setting up your wallet

What is a non-custodial wallet & why should I have it?

In order to utilise ZaynFi and other DeFi protocols or platforms, you will need to have a non-custodial wallet set up and loaded with some crypto.

What is a non-custodial wallet?

A non-custodial wallet is a type of digital wallet for holding cryptocurrencies. It's "non-custodial" because you are the only one who controls your money and private information, not a bank or other third party. This makes it a more secure and private way to store your digital assets.

Why is a non-custodial wallet good for me?

As we have seen with the blow ups at centralized exchanges where individuals running these centralized exchanges played around with user deposits, the same would not have happened when users custody their wallets on their own non-custodial wallets.

This is in line with the aim of DeFi which is to return control of money and how it is managed to the people.

How do I set up a non-custodial wallet?

If you are a mobile user, you can download the Metamask app and follow the steps in the app to set up your wallet.

If you are a desktop user, install Metamask's browser extension and follow the steps there to set up your wallet

If you would like further convenience, you can setup a non-custodial wallet using your Google Account or other Social Logins on ZaynFi. You can login again to ZaynFi using the same social login you set up your ZaynFi wallet with in the future.

Wallet Management

First, you will need to use a strong password that you will remember.

Secondly, you will need to store your secret recovery phrase. One way to do it would be to write it down and keep it safely in a Safe or somewhere you can be sure it won't be accessible to other people.