💳 | Creating a Wallet
To begin utilizing Unlimited Leverage on the Arbitrum-one chain (ARB1), the first step is to create a wallet that supports it. Wallets can be accessed through desktop computers and mobile devices, and you should choose the one that best suits your needs.
As you set up your wallet, it's important to take the following precautions:
🔷 Download and install the most recent version of the wallet from an official source.
🔷 Follow the setup instructions closely.
🔷 Securely back up your recovery phrases.
🛑 Refrain from sharing your recovery phrases with anyone.
🛑 Avoid entering your recovery phrase anywhere other than your wallet app.
Unlimited Leverage supports the following wallets ⤵️
MetaMask is a very popular browser-based wallet plugin that supports ERC20 (Ethereum network) and ARB1
Pros:
Open-source.
Historically the most popular.
Tons of resources and guides online.
Supports many languages.
Available on mobile.
Cons:
Originally built by devs, for devs.
Extra information and settings may confuse beginners.
WalletConnect is an open protocol for connecting wallets and DApps (Web3 applications), which uses a bridge server to establish a remote connection between two applications and/or devices, scan a QR code to establish a connection, and start communication. Pros
User-friendly, compatible with multiple blockchain networks.
Secures user interactions, pretty decentralized.
Cons
Dependency on dApp and wallet support.
Connectivity issues and potential complexity for some users.
Trust Wallet is a popular wallet for smart devices. It supports DApps, NFT collectibles (with Opensea.io support), and in-wallet staking.
Pros:
Open source.
Backed by Binance.
Easily switch between several crypto networks.
Includes popular networks by default.
Includes in-wallet staking options.
Cons:
Language tied to PC/Mobile settings.
Limited DApps.
Millions of users choose Coinbase Wallet to earn yield with DeFi, swap more than 5,500 assets, and hold their NFT collections.
Coinbase wallet supports ERC20 (Ethereum network) and ARB1.
Pros:
Easy to transfer assets from Coinbase retail app.
Supports fiat on-ramps.
Industry-leading security with secure cloud backup.
Available on mobile.
Cons:
Chrome only.
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