A Web3 wallet is a type of digital wallet that allows you to securely store and manage your digital assets such as cryptocurrencies, non-fungible tokens (NFTs), and other digital assets that are used in Web3 applications. Unlike traditional wallets that are custodial, where a third-party holds your assets, a Web3 wallet is non-custodial and gives you complete control over your assets. Self-custody of assets is important because it enables you to be the sole owner of your digital assets and reduces the risk of losing them due to hacks, fraud, or theft.
Coinbase Wallet
Coinbase Wallet is a mobile wallet that allows users to store their digital assets securely. It also supports Web3 applications and dapps. Here are the steps to create a Coinbase Wallet:
Download the Coinbase Wallet app on your mobile device.
Open the app and select "Create a new wallet".
Follow the instructions to set up a new wallet by creating a secure passphrase and backing up your wallet with a recovery phrase.
Once your wallet is set up, you can connect it to Web3 applications by selecting "Browser" in the wallet and navigating to the dapp you want to use.
Metamask
Metamask is a popular Web3 wallet that is available as a browser extension on Chrome, Firefox, and Brave. Here are the steps to create a Metamask wallet:
Download the Metamask extension from the Chrome, Firefox, or Brave store.
Once the extension is installed, click on the Metamask icon in your browser and select "Create a Wallet".
Follow the instructions to create a new wallet by creating a secure passphrase and backing up your wallet with a recovery phrase.
Once your wallet is set up, you can connect it to Web3 applications by selecting the Metamask icon in your browser and navigating to the dapp you want to use.
Trust Wallet
Trust Wallet is a mobile wallet that supports Web3 applications and dapps. Here are the steps to create a Trust Wallet:
Download the Trust Wallet app on your mobile device.
Open the app and select "Create a new wallet".
Follow the instructions to set up a new wallet by creating a secure passphrase and backing up your wallet with a recovery phrase.
Once your wallet is set up, you can connect it to Web3 applications by selecting "DApps" in the wallet and navigating to the dapp you want to use.
I hope this revised tutorial helps you understand what a Web3 wallet is and why self-custody