What is Liquality Wallet?
Liquality is a platform built in the direction of All-in-One, with two main products, Non-custodial Wallet and Atomic Swap capable of supporting Multi-chain. Liquality wallet aims to integrate asset management and swap into the same application, through which users can do all operations in the simplest way, helping them to approach the decentralized web era.
Highlights of Liquality
Built to be an All-in-One, unifying multi-chain ecosystem, Liquality wallet now allows users to access the following blockchains: Ethereum, Bitcoin, Rootstock, Polygon, Binance Smart Chain, Near , and Arbitrum.
In addition, Liquality also integrates different types of swap to suit each use purpose. Liquality uses atomic swaps for cross-chain, peer-to-peer exchange of native assets, plus the ability to integrate with leading DEXs like Uniswap and 1inch for ERC-20 transactions on the system. Ethereum ecosystem, and allows connecting BTC to RSK through Sovryn’s FastBTC Relay.
Liquality wallet is non-custodial wallet, which simply means not holding the user’s assets. When you own a non-custodial wallet, no one (not even the wallet provider) has the right to freeze, access or trade user assets except the user himself. This limits the risk of a third party losing assets.
The fact that a feature-focused application is not new, typical of an All-in-One wallet, that is Techtipsnreview Wallet, a decentralized wallet that supports Multi-chain, helping users participate in DeFi experiences one easy way. If you are interested, you can refer to the wallet with convenient features and usage right below!
Reference: What is Techtipsnreview Wallet? How to use Techtipsnreview Wallet from AZ
Liquality just went through a Seed Round in August 2021, raising $ 7 million from large and prominent funds such as: Alameda Research, Coinbase Ventures, Hashed, White Star Capital, Galaxy Digital, Accomplice.
Instructions to install and create a Liquality wallet
Step 1: Download Liquality wallet: Download Liquality wallet on Website here.
Step 2: Create a new wallet or restore a Liquality wallet.
1. In case you already have a wallet, you need to restore the wallet (instructions on the right):
- Choose Import Wallet.
- A screen will be displayed to select a 12-word recovery form Seed Phrase. Currently, you cannot Import Private Key into your Liquality Wallet via json file; can only use Seed Phrase.
- Enter 12 characters or 24 characters of Seed Phrase in the box.
- Import password and Confirm password.
- Choose tiếp tục is complete.
2. In case of creating a new wallet (instructions on the left):
To create a brand new Liquality wallet, you will first choose Create New Wallet. Later set password and Confirm password.
The next very important step is Back-up Wallet. In this part, you will save 12 words Seed Phrase in the correct order from 1 to 12. After confirming and saving these 12 words, Liquality will verify again by asking you to choose 3 words corresponding to the correct number of 12 words that you I have saved it.
Finally, just press tiếp tục to complete.
Note: Passphrase is extremely important information, so you should store the passphrase on paper and re-enter it to test in the required order (in case you forget or save it by mistake).
Learn more: What is Private Key & Passphrase? The safest and most secure way to store
Instructions for using Liquality wallet
At the main interface, you can track the balance in your wallet.
Note: Liquality currently supports 8 blockchains: Ethereum, Bitcoin, Rootstock, Polygon, Binance Smart Chain, Near, Arbitrum, and Terra.
The current dashboard includes 7 main features:
(1) Switching between Testnet and Mainnet
(2) Menus: Here you will have the following options:
- Manage Assets.
- Backup Seeds.
I will share in detail how each feature works below.
(3) Send part: From here, you can send your tokens to another receiving wallet address (yours) or to someone else. The steps in order from 1 to 5 are as follows: Select chain → enter the asset and quantity to send → enter the destination address → adjust gas fee → click Review and confirm sending.
(4) Swap part: After initialization, you need to send assets to Liquality wallet through part number (5) – Receive.
Next, follow these steps in order: (first) Choose asset pair want to swap → (2) Choose trading volume → (3) Adjusted gas fee and read the terms carefully → (4) India Confirm to confirm the swap command.
You can switch the network to Testnet to experience this Swap feature.
(5) Receive part: You choose the type of property you want to receive, then copy receiving wallet address or use another device scan QR code to send in.
(6) Assets: This is the section showing the types of assets that you are holding.
(7) Transaction history: where the transactions have been displayed.
To perform a Swap command on Liquality, you can follow these steps:
Step 1: Select button Swap or click on the asset type displayed in the Asset → Select Swap.
Step 2: Enter the number of tokens you want to swap and tokens to convert to. Here I take the example of Ether.
Step 3: Choose the exchanges to see which exchanges are most suitable for each token type and reasonable conversion rate.
Step 4: Adjust gas charges and read terms carefully.
Step 5: India Review and Confirm to confirm the Swap command.
The burger-shaped part in the top right corner is Menuhere you can tweak a few features such as:
1. Manage Assets: Here you can choose the types of tokens displayed in the main interface. If you can’t find the token you want, you can press the button “Add Custom Tokens” and fill in the relevant information (Contract, wallet address, chain, name, decimal and symbol).
- Default Web3 Wallet: You can choose Liquality as the default wallet when using Dapps on Web3.
- Web3 Network: Currently Liquality wallet supports 4 different networks when using Web3 applications: Ethereum, Rootstock, Polygon and Arbitrum. To use a Dapp with Liquality, you must first enable the option “Default Web3 Wallet” and select the corresponding network as Web3 Network. Then go to the dapp (make sure you are on the correct URL) and try to connect again by selecting the option “Injected” or “MetaMask” according to the instructions below:
- Dapp Connections: Select button “Forget all connections” to disconnect Liquality wallet from all Dapps.
- Analytics: Users can choose to share data information with Liquality or not.
- Wallet Logs: Wallet logs contain public information of users such as addresses and transactions. You can download this diary by pressing the button “Download Logs”.
4. Ledger: Liquality supports users to connect directly to cold wallets for token storage needs. You can do it through the following steps:
- Plug the cold wallet into the computer.
- Fill pin code to unlock.
- In the cold wallet interface, select the assets to store → Select Swap → Select Settings → Select “Allow Contract Data”.
- In the Liquality interface, select the type of asset to send in the section “Select the same asset here” then press Connect to confirm and complete the procedure.
5. Backup Seed: In case of forgetting Seed Phrase but still remember the login password, you can click this to get it back.
- Choose “I have privacy” → Enter password → Select “I understand the risk and have privacy” then press tiếp tục.
- After recording Seed Phrase in a very secure place, choose “I saved the seed” to complete.
6. Lock: Close the application.
Currently, Liquality Wallet is a very new wallet project, and compared to other non-custodial wallets of the same type like Techtipsnreview Wallet, it is still very sketchy and limited. Liquality has not yet integrated too many chains, creating a limitation in user access and liquidity from many different blockchains. Through my personal experience, the project does not really have anything outstanding to bring to the table compared with competitors in the same segment.
However, Liquality wallet has a lot of utilities such as for users to manage assets, and especially the ability to integrate Swap on the same simple and friendly interface.
In general, Liquality wallet is a project that has met the basic features. The current work of the project is to integrate many other chains, add necessary features, and support more Dapps that will help the project develop and attract more users.
If you have any other questions or comments, please comment below to discuss with Techtipsnreview! Don’t forget to subscribe and join Techtipsnreview Insights’ groups and channels below to discuss with admins and many other community members:
Source: What is Liquality Wallet? Detailed instructions on how to use Liquality wallet