Before you start
On a centralized exchange, the company holds your coins and you trust it not to freeze your account or get hacked. In DeFi, the tokens sit in a wallet that only you control. No company can block you, and no company can help you if you lose your keys.
A self-custody wallet
An app or browser extension that creates your private key and signs transactions. Your address is public; your key and recovery phrase are not.
A little native token for gas
Every transaction pays a network fee in the chain's own token, ETH on Ethereum and most layer 2s. See Understanding gas fees.
Step 1: install a wallet
Any wallet below works with ChainBridge. MetaMask or Rabby is the easiest place to start; move larger amounts to a hardware wallet later.
| Wallet | Type | Good at | Trade-off |
|---|---|---|---|
| MetaMask | Browser extension, mobile | Supported almost everywhere | Hot wallet: keys live on an internet-connected device |
| Rabby | Browser extension, mobile | Multi-chain by default, clear transaction previews | Hot wallet |
| Rainbow | Mobile, extension | Simple interface for Ethereum and layer 2s | Hot wallet: phone security matters |
| Ledger, Trezor | Hardware wallet | Keys never leave the device | Costs money, slower to sign |
Download from the official site
Type the address yourself or use the official app store listing. Fake wallet extensions exist.
Create a new wallet
The app generates a recovery phrase of 12 or 24 words. This phrase is the master key.
Back up the phrase on paper
No screenshots, notes apps or cloud storage. Store it offline somewhere safe. More in Wallet security.
Step 2: fund your wallet
| Method | How | Cost |
|---|---|---|
| Centralized exchange | Buy on Coinbase, Kraken or similar after identity checks, then withdraw to your wallet address. | Trading fee plus a withdrawal fee |
| On-ramp in your wallet | Pay by card or bank transfer through a provider such as MoonPay or Transak, built into many wallets. | Usually higher than an exchange, varies by payment method |
Pick the network before you withdraw. Many exchanges can send ETH or USDC directly to Arbitrum, Base or Optimism, where a swap usually costs cents instead of dollars. That makes them a good place to learn. Make sure you also hold that network's gas token:
| Network | Gas paid in |
|---|---|
| Ethereum, Arbitrum, Base, Optimism, Linea | ETH |
| Polygon | POL |
| BNB Chain | BNB |
| Avalanche | AVAX |
Step 3: your first swap
ChainBridge is non-custodial: it never holds your funds. It asks three aggregators, 0x, KyberSwap and ParaSwap, for a price and shows you the one that leaves you the most after fees and gas. You sign the trade from your own wallet.
Connect your wallet
Click Connect Wallet and approve the request in your wallet. Connecting only shares your address; nothing can move without your signature. Check that the network shown matches where your funds are.
Choose what to sell and what to buy
Put the token you hold on top and the one you want below. USDC is a common first buy: a stablecoin that tracks the dollar. Enter a small amount.
Read the quote
Check the amount you receive, the minimum received, the price impact and the fees. Slippage is set automatically for the pair; you can change it in settings. See Anatomy of a swap quote.
Approve, then swap
Selling a token other than the native one needs an approval first, letting the aggregator's contract spend it. If your wallet supports batched calls, approval and swap go out in one confirmation. The transaction is simulated before you sign; if it would fail, you are told before paying gas.
Wait for confirmation
About 12 seconds per block on Ethereum, a second or two on most layer 2s. The tokens then appear in your wallet.
Afterwards, the portfolio page shows your balances with USD values and the history page lists the swap with a link to the block explorer.
Common beginner mistakes
DeFi has no undo button. Each of these has cost real people real money.
Withdrawing to the wrong network
An exchange asks which network to withdraw on. Pick the one your wallet is set to use, and send a small test amount first. Funds sent on a network you did not expect can be hard or impossible to recover.
Running out of gas money
Keep a little of the network’s native token in the wallet at all times. Without it, you cannot move anything else, not even to sell.
Approving more than you need
A token approval lets a contract spend that token later. Review them from time to time on the approvals page and revoke the ones you no longer use.
Trusting links in messages
Bookmark the apps you use. Support staff, airdrops and “wallet validation” links in DMs or emails are the classic phishing entry point.
Sharing the recovery phrase
No wallet, exchange or support agent will ever ask for it. Anyone who has it owns the wallet.
Review and revoke old approvals on the approvals page.
Next steps
- Understand what you hold. Read What are stablecoins? before parking savings in one.
- Check tokens before buying. Token safety checks explains honeypots and sell taxes.
- Pick the right network. Layer 2 networks covers where swaps are cheapest.