*Paid Advertisement. Not financial advice. RugDoc is not responsible for the projects showcased here. DYOR and ape safu.

How to Use WalletConnect

Decentralized applications (DApps) offer excellent opportunities to do more with your crypto than just HODL. There’s a lot to explore when it comes to decentralized finance, games, and marketplaces. DApps require you to connect your wallet and grant them permission to make signed transactions before you can use them. You can do this with WalletConnect.

How does WalletConnect work? #

The WalletConnect protocol allows your wallet to communicate with DApps and other wallets. You connect your wallet to the DApp by scanning a QR code or clicking a deep link. Users can also receive push notifications if incoming transactions are detected. WalletConnect is found in Android and iOS mobile wallets like Trust Wallet and MetaMask.

On desktop and mobile, connecting to a DApp using WalletConnect differs. The process is the same and shouldn’t take too long. Try all the steps again if you have trouble connecting, which sometimes happens. Please check your wallet’s compatibility with WalletConnect before proceeding.

1. Launch the DApp you want to connect to. In this example we will use PancakeSwap. You should see a [Connect] button in the top right corner of most DApps.

2. Click the [Connect] button if you’re using a desktop browser. Your wallet will now be connected via a pop-up. You will see a QR code.

3. Your WalletConnect mobile wallet needs to scan the QR code. To connect, we will use Trust Wallet.

4. You can find WalletConnect under [Settings] in Trust Wallet. You can then scan the QR code with your camera by selecting this option.

5. After scanning the QR code, your wallet will display a pop-up. Connecting your wallet to the DApp is as simple as tapping [Connect]. You’ll now be connected and can disconnect if necessary by tapping [Cancel] on the top left corner.

6. Additionally, you might want to connect to a DApp through your mobile device’s browser. The steps are the same as always. Rather than a QR code, you’ll find a list of wallets to choose from. You’ll then be redirected to step 5 after selecting your wallet, in our case, Trust Wallet.

7. WalletConnect can also be used to confirm transactions while you’re connected. We have created a simple BNB to BUSD swap in PancakeSwap. Once we have confirmed the details, we’ll click the [Confirm Swap] button.

8. Upon confirming your transaction, a popup will appear in your wallet. Confirm that your transaction is correct by pressing the confirm button.

Stay safe with WalletConnect #

When you’re done with a DApp, disconnect your wallet from it. In addition, you should always verify that the DApp you’re connecting to is trusted and that you’re accessing it at the right URL. Lastly, you can improve your security by restarting your app and refreshing your browser after connecting to a DApp.

Closing thoughts #

WalletConnect is a popular tool within the DeFi DApp community. You can access a variety of different services through this tool, which only takes a few minutes to learn. WalletConnect is a useful tool for accessing DApps while on the go, as cryptocurrency wallets become more mobile.

Updated on January 21, 2022
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*Paid Advertisement. Not financial advice. RugDoc is not responsible for the projects showcased here. DYOR and ape safu.

Our mission here at RugDoc is to screen for hard rug code that results in 100% theft of ALL underlying funds for ALL participants.

This is the ONE part of the due diligence process that most people cannot simply do on their own as it costs thousands of dollars to hire a senior solidity developer to look over a farm for safety.

A project coin with terrible code can go up in price, and a project with good code and a good team can also go down in price.

Do NOT use our ratings to refer to your likelihood in making money if you invest in the project. They are ONLY in reference to code safety.

Everything else beyond code safety is YOUR responsibility to go do research on. We just make sure the casino you’re betting in won’t rob you before you even get to place a bet.

Our reviews for projects are organized into a few colors.

🟢 Least Risk
These projects are the least likely to hard or soft rug. Usually reserved for cornerstone projects of an ecosystem where it makes no financial sense for them to rug in any manner as they make more money just being legit.

🔵 Low Risk
These projects are usually established projects in an ecosystem that have a track record of success or have KYC’d to us or other authoritative sources in the real world. As a result, it is extremely unlikely for them to soft rug or hard rug their projects. The projects can still fail and the token price can go down, but usually more as a result of natural market forces.

⚪️ Some Risk
This is the default rating for projects with unknown teams but have code that is unlikely to have hard rug risk. Since the team is unknown and doesn’t have a track record of success, it’s entirely possible that they may try to soft rug by dumping tokens, abandoning the project, etc. Even a last minute contract swap to a malicious contract is possible. The only thing that is unlikely is a complete hard rug as long as you are 100% sure you deposit into the contract we review.

🟠 Medium Risk
Similar to Some Risk, but the underlying code itself is custom enough or complex enough that it warrants an elevated risk rating that needs deeper research. Make sure you read every point presented to make sure you’re comfortable with that before entering. Still unlikely to hard rug, but more chances of custom code behaving incorrectly and causing other issues.

🔴 High Risk
Project contains code or practices that are HIGHLY LIKELY to lead to catastrophic losses as they are right now. Make sure you read the description carefully as we will always warn what these issues are. If you see the words Hard Rug anywhere in the review, STAY FAR AWAY!

⚫️ Not Eligible
We reserve the right to not review exceedingly complex projects that would require tens of thousands of dollars of senior security analyst man hours. Typically these are projects that deal with leverage, lending, options, derivatives, and anything that is overly complex and which requires tons of peer reviews and audits from top audit companies.

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1️⃣ Use #update at @RugDocChat with your description and proof of changes and it will be forwarded to our scanners.

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