What is Onchain? A guide from self-custody wallets to the decentralized world

What is onchain? It’s a question increasingly asked as decentralized wallets become more popular. To better understand onchain, we need to distinguish between two ways of managing digital assets: depositing funds on centralized exchanges and using self-custody wallets. This article will explain the key differences and why more people are choosing to manage assets onchain.

Self-Custody Wallets: Full Control or Total Risk?

Most people start with centralized exchanges — simple, secure, and easy to use. But when you want to get involved in the onchain world, the choice of a self-custody wallet opens up a completely different perspective.

Using a self-custody wallet means only you hold the private keys and recovery phrase. The exchange does not manage your assets, cannot lock your account, and cannot decide what you can do with your money. That’s true freedom — but it also comes with responsibility.

Main benefits:

• You have 100% control over your assets and personal data
• No dependence on any organization, as long as you keep your private keys safe
• Confidence that your assets are stored onchain, under your ownership
• Freedom to transfer assets whenever you want without permission

However, self-custody also means responsibility: you are solely responsible for protecting your keys. If you lose your keys, no one can help you recover your assets.

Why Do You Need a Multi-Chain Wallet? Going Beyond Ethereum and Bitcoin

Most newcomers to crypto are familiar with Ethereum and Bitcoin. But onchain is a much larger universe. Currently, there are over 100 active blockchains, each with its own tokens and projects.

Imagine this scenario: a friend suggests a promising new token, but it’s only available on Solana, not Ethereum. Or you want to try a DeFi project on Base but only have an Ethereum wallet. In the past, you’d have to download a new wallet app or go through a complicated process to switch chains. Many people gave up on opportunities because of this hassle.

A multi-chain wallet solves this problem. It allows you to store and manage tokens from Ethereum, Bitcoin, Solana, Base, and over 100 other blockchains — all within a single app. You can:

• Access new tokens without downloading a different wallet each time
• View your asset values across all chains in a unified interface
• Easily switch between blockchains to participate in various onchain opportunities

Supporting hundreds of thousands of tokens (around 300,000+), including major coins, memecoins, blue-chip tokens, and even newly issued free tokens, the onchain world is no longer unfamiliar.

Exploring the Onchain World: Trading, NFTs, DeFi, and More

What is onchain if not an ecosystem full of applications and opportunities? Modern self-custody wallets are not just for storing funds — they’re gateways into the entire decentralized economy.

Trading: When you swap tokens on decentralized exchanges (DEXs), the system automatically searches for the best deals across 400+ DEXs. Instead of manually choosing an exchange, you get the best prices.

Marketplace: This is where you discover and manage NFTs and digital items on any blockchain. With over 3 million NFTs from various launchpads, the onchain marketplace has no limits.

DeFi: Your assets can earn yields through DeFi protocols — lending, yield farming, or staking. An integrated wallet makes accessing thousands of DeFi opportunities easier.

Discover: Over 10,000 onchain apps await your exploration. From blockchain games, decentralized social networks, to portfolio management tools, anything you imagine can exist onchain.

You can try out new tokens yourself by pasting the contract address into the token management section. No permission needed, no waiting — just act.

Free, Safe, and Incredibly Free

One important note: using a multi-chain self-custody wallet to explore onchain is completely free. No platform fees, hidden charges, or registration costs. Only blockchain transaction fees (gas fees), which are part of any onchain activity.

Why is it free? Because accessibility, transparency, and control are core to the onchain philosophy. When you manage assets directly on the blockchain, everyone has an equal opportunity.

If you’re new to crypto and want to understand onchain better, the first step is to find a trustworthy self-custody wallet. Experiment with small amounts, learn how to protect your keys, and gradually explore the decentralized world. It’s a journey from centralized trust to decentralized trust — from relying on institutions to trusting math and cryptography.

Start today and discover what onchain can offer you.