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Beginners Guide

If you speak German and prefer videos you can start here 🎬. Please be aware that information in the videos might be outdated due to continous development of DeFiChain and the production date of the video.

You prefer written information? Here we go!

Decision: Which wallet should you use?​

With a wallet-app you will be able to access your DFI-Coins, which are on the blockchain.

You can use your wallet especially for

  • administration of your DFI-portfolio
  • send and receive coins
  • use the DEX for swapping coins
  • use your coins for Liquidity Mining
  • create a vault and manage the collateral for your loans
  • take and payback a loan
  • join future-swaps

Currently you can choose among the following wallets

DeFiChain Light Wallet​

The Light Wallet is available for your Android- and iOS-smartphone. This app doesn't syncronize the complet blockchain. So it needs less memory and is faster ready for use. Furthermore the User Interface makes it easier to enter the DeFiChain ecosystem.

The light Wallet uses a 24-words-seed-phrase to grant access to your funds. Please be sure you follow the safety recommendations when using the app.

The following list is not a necessarily complete one. You are completely responsible for your seed. Losing your seed means losing your funds!

  • Store your 24 words safely (a word-document on any online-device like a Laptop, Smartphone is not safe)
  • Don't tell them to anyone beside maybe a person of trust for emergency cases
  • Watch out on Telegram. Scammers are very tricky when trying to get your 24 words. Don't tell them anyone who writes you a private message in a chat.
  • Don't put your 24 words in an app or bot which you can't verify as legit.

For convenience you place a 6-digit-code for signing transactions, so you don't need your 24 words every time you use the wallet. After entering three times a wrong code the app will be reset and you need your 24 words to get access to your funds again.

DFX Light Wallet​

The DFX Light Wallet is a modified version of the Light wallet with several added functionalities concerning DFX.Swiss services. Among others those functions are Staking and participating in votings.

Further information can be found here in the DFX-Wiki-chapters

Jellywallet​

The Jellywallet is the youngest member of the DeFiChain-Wallet-family. It is a Chrome-extension. So it is great for users who prefer working with a PC or laptop instead of a smartphone.

Jellywallet also uses a 24-words-seed-phrase which is full compatible with the LightWallet-seed. So you can use your wallet with a laptop as well as with a smartphone.

Usage of Vaults and Loans is not possible as of today.

The wallet with further information can be downloaded here.

Full-Node-Wallet​

For a beginner the start into DeFiChain with the Full-Node-Wallet is not recommended as the usability is not really intuitively possible. For technical oriented users who want to use a command line additionaly however it is the only option. Also when you want to run your own masternode you need the Full-Node-Wallet.

  • The Full-Node-Wallet is harder to use than the Wallet for the smartphone
  • This wallet always syncronizes the whole blockchain. So it need more memory capacities and time.
  • You do not have a 24-word-seed-phrase. The Full-Node-Wallet uses a safety-file. The so called "wallet.dat" and the password always need to be kept safe to have acces to your funds.
  • You can download it here: https://defichain.com/downloads for macOS, Windows and Linux