Decentralized identity is a type of identity management that allows the control of personal information existing online without the involvement of third parties (social media, email service providers, etc.).

With the current version of the Nexo Web3 Wallet, you can create your own decentralized identity. We'll pair it with an existing or newly created wallet address, and you'll be able to use the identity to sign transactions.

Additionally, the Nexo Web3 Wallet allows you to pair your identity with an external, non-custodial wallet, such as Metamask. This will help you aggregate all your assets in a single dashboard and under one identity.

Non-custodial wallets serve as the main entry point for users opting to self-custody their assets and interact with blockchain applications. They can be accessed only through a seed phrase - a cluster of words, generated randomly by your wallet, proving the ownership of funds stored in the wallet.

With a non-custodial wallet, you can execute transactions on DEXs, trade NFTs, swap tokens, earn interest, and more.

Smart wallets are non-custodial wallets controlled through smart contracts that allow for an ecosystem of asset management features to be built on top.

Among the most popular features are transaction batching, paying gas fees with non-native tokens, and signing in with a Web3 identity, all of which can be found on the Nexo Web3 Wallet.

You can add funds to your Nexo Web3 Wallet before you have created your decentralized identity.

When you click on the 'Receive assets' button in the upper right corner of their dashboard, a unique identity address will be displayed on the screen to be copied and pasted on the respective sender platform. Once done, you can transfer funds to your Nexo Web3 Wallet via one of the five supported chains.

The Nexo Web3 Wallet supports five networks – Ethereum, Polygon, BNB Chain, Avalanche, and Fantom. Each of them requires a separate identity, which can be created with a click of a button. You can manage your existing digital identities from the section in the top right corner of the dashboard.

The Nexo Web3 Wallet requires creating a new account so that you can manage your own identity and funds in self-custody.

You can create a native Nexo Web3 Wallet in just a few simple steps:

1. On your dashboard, you will be presented with the options to connect, create, or import a wallet.
2. Click on 'Create Wallet' and make sure to save your seed phrase on your computer, phone, or piece of paper.
3. Put the words of the seed phrase in the correct order to confirm your backup.
4. Create a password for your wallet.

Once you confirm your password, you’ll be transferred back to your dashboard, and you’ll receive a notification that your native Nexo Web3 Wallet has been successfully created.

To import your existing non-custodial wallet, such as Metamask, you can follow these steps:

1. On your dashboard, you'll be presented with the options to connect, create, or import a wallet.
2. Choose the Metamask option from the 'Connect Wallet' menu.
3. A screen will pop up in the upper right corner for you to click on 'Sign'.
4. Once you accept the connection, your Metamask will be linked to your Nexo Web3 Wallet.

You can supply assets to the available protocols on multiple networks and keep track of your positions from the Dashboard or the 'My positions' section.

To get started, you need to activate your identity on the network where you want to earn. For example, you can generate yield with Compound on the Ethereum mainnet and the Polygon network. You can supply assets in the protocols from your identity or any connected self-custodial wallet. Here is how to do it:

1. Choose an asset and protocol and click 'Start earning'.
2. Select a wallet, and choose the amount.
3. Click 'Supply' and start earning.