DeBank Review: Is It Safe To Connect Your Wallet?

DeBank is a free portfolio tracker for your crypto wallet and much more. You can use it without even connecting your wallet.

Updated: Apr 14, 2024

DeBank Review and is it safe

Highlights

  • DeBank is a free portfolio tracker for your crypto wallet, letting you track your holdings across dozens of EVM chains like Ethereum, Arbitrum and Base.
  • You can use DeBank safely, without even having to connect your wallet. Just paste your public wallet address in the search field to view your portfolio.
  • If you want to connect your wallet for extra features, DeBank is considered a safe dapp that has been around for a few years. Here's everything you need to know.

What Is DeBank?

DeBank is a Web3 portfolio tracker that makes it easy to track all of your cryptocurrencies in one place across multiple wallets and blockchains. It has a great design and lets you connect over 35 blockchains so you can accurately view your portfolio in real-time without having to use multiple apps.

You can add multiple crypto wallets, get analytics, transaction history, and useful information that is publicly available on the blockchain. It's packaged on a great user interface so you can clearly see all of your positions. DeBank has also launched additional features like whale tracking, a social feed, mobile app, and more.

Here is a useful video I found on DeBank:

Is DeBank Safe to Connect?

According to my personal experience, reddit, and online reviews, DeBank is safe and legit. Plus, you can use DeBank without connecting your wallet. Just visit the website and copy and paste your wallet address into the search bar and you get most of the benefits.

Also, according to Reddit, there are scam websites and apps pretending to be DeBank. 

One Reddit user says, "Beware the duckduckgo results on metamask about debank. The first result is scam! Check their twitter or other reliable sources first. The original address is debank.com. DON’T FORGET, IF A SITE ASKS YOU SEED PHRASE, IT IS A SCAM!"

There is also no info about their team which is something to keep in mind. There were also positive comments as well. Overall, DeBank seems to be safe, especially since wallet connection is not mandatory.

What Does Reddit Think About DeBank?

One Reddit user says, "They're legit (at least now, lol). Seriously, They're making waves because the wallet connects to almost every chain you can think of so it's very convenient."

"Amazing product, I have been looking for this tool for a while."

Another Reddit user says, "I use it since a few weeks, never had an issue. I use Metamask with a Ledger for the record so it mitigates the risk."

There are also some YouTube reviews with thousands of views. The general theme online is that DeBank is very convenient for tracking your holdings and it's not necessary to connect your wallet if you don't want to.

What Problem Does It Solve?

There are many portfolio tracking apps, but they don't support all the latest blockchains and protocols. This is a common problem in Web3 as it's hard to accurately see your entire portfolio in one place.

DeBank aims to solve this problem. It supports 1300+ protocols across 35+ blockchains so you can see all of your positions across DeFi, margin trading, DEXes, stablecoins, tokens, NFTs, and more.

Screenshots

How Does DeBank Work?

How to Use DeBank

DeBank can be used for free, without the need to connect your wallet. You simply copy and paste your public crypto address into the search bar and it will show will show you an overview of your holdings, transaction history, and much more.

  1. Copy your public crypto wallet address from Metamask, Trust Wallet, or whatever apps you use (connecting wallet is optional)
  2. Paste it into the DeBank search bar
  3. Get an overview of your holdings, value, trade history, and more

If you want access to all features, then you can connect your wallet (Metamask, etc) and download the free app. You will able to create your Web3 profile, connect Twitter, aggregate data from multiple wallets, follow others, and more. These features are free but again, they are optional. You can use DeBank without connecting your wallet.

What Can You Track?

DeBank lets you track everything in your wallet and you can even aggregate data from multiple wallets using the "Bundle" feature. It's very useful for seeing your active positions across DeFi protocols.

  • 35+ Blockchains (such as Ethereum, BSC, Avalanche, Polygon, Fantom, and many more)
  • 1369 protocols as of this writing. You can check out the entire list on this page
  • DeFi protocols, NFT holdings, tokens, margin trades, stablecoin positions, DEXes, etc
  • See profit and loss
  • See your entire trading history
  • Track friends, whales or known celebrity wallets

What Other Features Does DeBank Have?

DeBank's core feature is DeFi portfolio tracking. But they are also building a Web3 browser, social feed, and other cool things. Here is everything you can do:

  1. Track one wallet or multiple wallets
  2. Easily view your tokens, NFTs, domains, and more
  3. See your entire transaction history
  4. NFT profit and loss
  5. Spy on whales, popular addresses, celebrities or any Web3 wallet
  6. Explore DeFi ecosystem and see useful data
  7. Mint your Web3 ID
  8. Web3 Social feed
  9. DeBank Hi Messenger (a Web3 messaging app coming soon)

Author

At RankFi.com, our goal is to be your trusted source for crypto reviews, guides and research. We seek out researchers with extensive crypto knowledge and firsthand experience using dozens of CeFi and DeFi platforms.

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