User Tools for Working With Cryptoassets
Training for banks & financial institutions
Overview of tools used by everyday and advanced crypto users
Focus: practice, UX, risks, trends
About me
  • Researching crypto since 2012
  • MSc in Digital Currencies @Univeristy of Nicosia, BA in Economics @Masaryk University
  • Advisor to multiple crypto startups and companies like Vacuumlabs & Aaro Capital
  • Co-Founder Blockchain Slovakia & Paralelna Polis
  • exCTO @ Fumbi
  • Lecturer @FIIT STU, EUBA FHI
  • Author of Coinstory
  • Co founder of Cork Protocol (USA) & CEO & Amagi Labs (USA)
Foundation
What Are Cryptoassets
Digital bearer instruments secured by cryptography
No central issuer
Global, 24/7 transferability
Key categories: payment tokens, smart-contract platforms, stablecoins, utility tokens
Bitcoin
  • First decentralized digital currency (2009)
  • Fixed supply of 21M
  • Proof-of-Work security
  • Use cases: store of value, settlement
  • Tools: BTC wallets, Lightning apps, explorers
Ethereum & Smart Contracts
  • Programmable blockchain
  • Enables DeFi, NFTs, tokenization
  • Rollups reduce fees
  • Competitors: Solana, Avalanche, Near, Cosmos
Altcoins & Token Types
1
Platform tokens
ETH, SOL
2
Stablecoins
USDC, USDT, EURC
3
Governance tokens
UNI, MKR
4
Liquid staking tokens
stETH, rETH
User focus: liquidity + safety + utility
Blockchain Architecture (Simple View)
Ledger of blocks
Nodes, validators, mempool
Transactions signed with private keys
Wallet = key manager
User Journey
01
Choose asset
02
Choose wallet
03
Transfer
04
Interact with dApps

Friction: fees, signatures, seed management
Tools attempt to abstract complexity
Market Context (EU)
• Growing retail + institutional adoption
• MiCA regulates stablecoins & CASPs
• Trends: self-custody, L2, mobile dApps
• Significant UX risks remain
Information Layer
Why Information Tools Matter
Crypto = fully on-chain transparent
Requires aggregation and interpretation
Reduces user errors
Data quality shapes decisions
CoinMarketCap
  • Major market-data aggregator
  • Price, volume, market cap
  • Exchange listings
  • Limitations: inconsistent data quality
CoinGecko
Independent aggregator
Not owned by exchanges
Strong API & on-chain metrics
Developer-friendly access
Detailed categorization
DeFi, NFT, gaming segments
Great for DeFi insights
Protocol-level analytics
How Users Use CMC/CG
Verify contract address
Ensure they're interacting with the correct token
Check liquidity & trust signals
Volume, market cap, exchange listings
Quick legitimacy screening
Avoid scams and fake tokens
Access official links
Website, social media, documentation
Dune Analytics
  • SQL dashboards from blockchain data
  • Community-driven
  • Deep DeFi analytics
  • Used for trend tracking
Messari
Professional research
In-depth protocol analysis and market intelligence
Protocol analysis
Technical and economic assessments
Governance insights
DAO voting and proposal tracking
Institutional-grade data
Trusted by professional investors
Block Explorers (Etherscan, Solscan)
View all transactions
Complete on-chain history
Decode contract calls
Understand function interactions
Troubleshoot issues
Failed transactions, gas problems
Hard to interpret for beginners
Technical complexity barrier
AI Crypto Agent Tools
• Wallet copilots using LLMs
• Automated transaction explanations
• Emerging on-chain agents
• Risks: hallucinations, wrong guidance
Core Infrastructure
Wallets: Core Concept
Wallet stores private keys
Custodial vs non-custodial
Security–convenience tradeoff
Users must understand signatures
Hardware Wallets (General)
Offline private-key storage
Highest security
Slower UX
Ideal for long-term holdings
Trezor
  • Open-source firmware
  • Strong security reputation
  • Clear signing interface
  • BTC + ETH support
Ledger
  • Secure Element chip
  • Ledger Live ecosystem
  • Extensive multichain support
  • Closed-source firmware
Best Practices for Hardware Wallets
1
Never type seed online
Keep recovery phrase completely offline
2
Use passphrases
Add extra layer of protection
3
Simulate transactions
Verify before signing
4
Avoid blind signing
Always review transaction details
Metamask (Browser Wallet)
  • Most used EVM wallet
  • Access to DeFi
  • High phishing risk
  • Approval permissions = critical

Warning: Users must carefully review all transaction approvals
Rabby & Phantom
Rabby
  • Safer signatures
  • Built-in simulations
  • Better defaults for safety
Phantom
  • Solana-first
  • Built-in simulations
  • Better defaults for safety
Mobile BTC/Lightning Wallets
Phoenix, Breez, Muun
Instant payments
Low fees
Channel/fee complexity
Mobile ETH/Multi-Chain Wallets
Rainbow, Coinbase Wallet, Trust Wallet
Popular mobile options
Designed for NFTs & DeFi
User-friendly interfaces
Malware risks
Mobile security concerns
Not for large sums
Use hardware wallets for significant holdings
Seedless / MPC Wallets
• No seed phrase
• Key split across parties
• Examples: Zengo, Fireblocks
• Trade-off: trust in provider
Critical Issues
Wallet UX Challenges
Multi-chain fragmentation
Complex signatures
Unlimited approvals
Social engineering attacks rising
Smart-Contract Platforms
Ethereum, Solana
Leading platforms
Rollups: Arbitrum, Optimism, Base
Layer 2 scaling solutions
User differences: speed, fees
Performance varies significantly
Execution models vary
Different technical approaches
Core DeFi Categories
DEXs
Uniswap, Raydium
Lending
Aave, Compound
Staking
Lido, Marinade
Stablecoin systems
Maker, Liquity

Risks: contract exploits, liquidation
Uniswap
  • Leading DEX
  • AMM pools
  • Slippage + price impact
  • Requires approvals
Aave
Borrow/lend assets
Supply and borrow cryptocurrencies
Overcollateralized loans
Must deposit more than borrowed
Liquidation thresholds
Risk of position closure
Users monitor collateral ratios
Active management required
Solana Ecosystem
• Raydium, Jupiter
• Fast + cheap
• Strong retail adoption
• Different architecture than Ethereum
ETH Staking Tools
Lido (stETH)
Liquid staking leader
Rocket Pool (rETH)
Decentralized option
cbETH
Coinbase staking
Liquid vs direct staking
Pros: liquidity, yield
Risk considerations
Cons: smart-contract risk
NFT Marketplaces
OpenSea
Magic Eden
Tensor
Uses: art, gaming, membership
Challenges: counterfeits
Infra remains relevant
Bridges & Cross-Chain Tools
Wormhole, LayerZero, Axelar
Move assets between chains
High-risk category
Prefer official/native bridges
Layer-2 Rollups
Low fees
Rely on Ethereum L1
Withdrawal delays
Leading rollups: Base, Arbitrum, Optimism
Stablecoins (User Perspective)
  • Most used assets in DeFi
  • USDC for compliance & transparency
  • Growing EUR stablecoins
  • Risks: custodian controls, blacklisting
Portfolio Trackers
Zerion, Zapper, DeBank
Leading portfolio tools
Multi-chain dashboards
Track assets across networks
Wallet-connection privacy concerns
Consider data exposure
Useful for active DeFi users
Essential for complex positions
Protection
Security Tools
Revoke.cash
Cancel token approvals
Scam Sniffer
Detect malicious sites
Transaction simulators
Preview transaction outcomes
First line of defence for users
Decentralized Identity & Social
• ENS
• Farcaster, Lens
• On-chain reputation
• Wallet = identity
Custody & Recovery Tools
1
Ledger Recover
Encrypted seed backup service
2
Social recovery (Argent, Safe)
Trusted contacts can help recover
3
MPC recovery
Distributed key reconstruction
4
Trend: removing seed phrases
Moving away from 12/24 word backups
Fiat On/Off-Ramps
MoonPay, Ramp, Sardine
Leading payment providers
Card + bank integrations
Buy crypto with traditional payment methods
MiCA impacts stablecoin access
Regulatory changes affecting availability
Still friction-heavy for users
KYC, limits, fees remain challenges
Regulation (User-Relevant)
  • MiCA regulates CASPs + stablecoins
  • Self-custody remains unregulated
  • DeFi is not formally defined
  • Banks testing custody/tokenization
Persistent Problems
UX Challenges Across Ecosystem
Multi-chain complexity
Poor signature readability
Cognitive overload
Account abstraction improving UX
The Future of User Tools
AI wallet agents
Seedless recovery
L2 dominance
Invisible UX
Banks increasing involvement in custody & settlement
Additional Resources and Tools
Recommended Reading
  • The Bitcoin Standard (Saifedean Ammous)
  • Layered Money (Nik Bhatia)
  • Nakamoto Institute Essays
Analytical Tools
  • Glassnode (on-chain analytics)
  • CryptoQuant (market data)
  • Chainalysis (compliance and investigation)
  • Mempool.space (network monitoring)
Practical Exploration
  • Bitcoin testnet experimentation
  • Lightning Network testing
  • Running a Bitcoin node
  • Blockchain explorer usage
Professional Networks
  • Central Banking Digital Currency Forums
  • International Monetary Fund Digital Currency Research
  • Bank for International Settlements Innovation Hub
  • Financial Stability Board Crypto Asset Working Groups
THANK YOU!
more about me davidstancel.com
my book available online for free: coinstory.tech
contact me at [email protected]