Web3 wallet login vs standard email registration?

[FNAFFun]

Noticing more crypto platforms dropping email/password sign-ups entirely in favor of direct Web3 wallet connect (MetaMask, Phantom, etc.).

From a user perspective, does direct wallet connection actually improve conversion rates, or do most crypto users still prefer anonymous email/pass registration?

[Ruttoshi]

It's better as a crypto user, you don't connect your wallet to platform that ask for it because they can use that medium to drain your wallet. We have heard about a lot of wallet that has been drained by connecting to random site.

I prefer email registration for safety. This is why it's better to use a different wallet entirely for your savings and a different wallet for airdrops with zero balance.

[marrcelo]

I don't like logging into the wallet many times to enter exchanges, they're still a risk to security. I almost don't use DEX exchange, I don't trust it much, I use CEX more. I find it complicated, confusing, decentralized exchanges, I use it but the metamask wallet already has everything a DEX exchange has, and also some news of hacker attacks and security flaws in decentralized exchanges makes me stay away even more. In any exchange leaving your cryptocurrencies sitting isn't safe.

[coin-investor]

Noticing more crypto platforms dropping email/password sign-ups entirely in favor of direct Web3 wallet connect (MetaMask, Phantom, etc.).

From a user perspective, does direct wallet connection actually improve conversion rates, or do most crypto users still prefer anonymous email/pass registration?

For a new platform, I do not prefer or avoid connecting my wallet; I prefer email/password, and if there is no email/password option, then I create a new wallet to connect.
There have been many verified reports of wallets being compromised when connecting to a new platform because of vulnerabilities; even old platforms are not safe.
Keep your wallets, where your assets are stored, away from connecting to any platform; you never know if hackers are targeting the platform.

[asriloni]

Noticing more crypto platforms dropping email/password sign-ups entirely in favor of direct Web3 wallet connect (MetaMask, Phantom, etc.).

It's not entirely true. I see the more crypto platforms are giving users options to use both instead of forced them to use their wallet to sign up to the platforms.

From a user perspective, does direct wallet connection actually improve conversion rates, or do most crypto users still prefer anonymous email/pass registration?

Honestly, both of options possess the same risk. Wallet connection can make use getting drained while using email to sign up can also make our email getting stolen, but i'd rather to put email sign up as my priority because google has some layer of protection.

The most scary thing about wallet connection is that even when you used a dummy addy to connect to the site, but the connecting it to the scam site may also impact your wallet, which may be make you feel not safe to change your main wallet. In some case, it can't be revoked. So, i'd put email connection as my priority to ensure whether it's safe or scam site.

[TastyChillySauce00]

I'm one of those guys who will definitely prefer wallet login compared to email because it feels simpler and anonymous.

From a user perspective, does direct wallet connection actually improve conversion rates, or do most crypto users still prefer anonymous email/pass registration?

So far I haven't seen any company that publish their conversion rates improvement after using direct wallet connection but I guess if you're using embedded wallet with social/email login, the chance for higher conversion rates is huge because it covered more userbase.

Although personally I think address login is more anonymous than email/pass registration. You can spin up new address if you want to create new account and you can dispose it. Less chance of email/pass leak, less chance of spammy marketing emails but you need to remember that not all of your users going to have crypto wallet installed on their browser.

[omenswap]

It's better as a crypto user, you don't connect your wallet to platform that ask for it because they can use that medium to drain your wallet. We have heard about a lot of wallet that has been drained by connecting to random site.

I prefer email registration for safety. This is why it's better to use a different wallet entirely for your savings and a different wallet for airdrops with zero balance.

Just pay attention. "Connecting" your wallet does not allow the website to steal your money. SIGNING a transaction does allow the website to steal your money. Also signing things like an an EIP2612 permit will also allow a website to steal your money. Real "sign in with web3" authentication will ask you to sign a random string along with the service name and a timestamp -- make sure this is all its doing and you will be just fine.

Never sign anything with your keys that you don't understand or read. Don't be that guy who haphazardly clicks buttons and authorizes something dangerous.  

[jossiel]

From a user perspective, does direct wallet connection actually improve conversion rates, or do most crypto users still prefer anonymous email/pass registration?

There are pros and cons for the direct wallet connection. But I think that most crypto people who are aware of security matters, they'll choose to get into the typical email/pass login.

While the direct wallet connect seems to be quick and hassle free, if you ended up in a wrong website or app and it's a phishing one you'll regret you did it.

And my choice will head up to the usual way of logging in using email.

[Localhostspeed]

Noticing more crypto platforms dropping email/password sign-ups entirely in favor of direct Web3 wallet connect (MetaMask, Phantom, etc.).

From a user perspective, does direct wallet connection actually improve conversion rates, or do most crypto users still prefer anonymous email/pass registration?

Are there projects that are asking for emails and password? Maybe they are making it as alternative for people that want to use email and password for additional way to access the user interface but I don't think that alone will save a user with security, a 2FA authenticator are request to make sure users are not compromised, it will only risk the peesn that use simple username, email and password to think they can use that to access a website.

My second thought why they might want to do that could be because of people that loss their wallet. If you loss your wallet and want to have access to your profile, the email and password can be another way so you can connect another wallet but before you can do that, you need to verifiy your email again and may be ask for 2FA again to be able to make that changes.

[elda34b]

More options is better I guess, although I can't imagine myself preferring dapp login since the risk is way too great compared to using a temp email or full guest account. We could argue having a dummy wallet serve this purpose, but it relies on an app that also manages our money in the end. I'd rather reduce the risk as much as possible if the option is there. Not sure how it's from the dev perspective though. Back when I was practicing web dev, I remember seeing so many social media login plugins. I guess it's faster to plug and install them instead of building everything from scratch.

[RGBTC]

All methods have their risks: When they are exploited, your funds are drained or your email is leaked.
The more actively you interact with Web3, the greater your exposure to risk; it's no different from registering on web2 services. Either email or wallet to register and connect, it is recommended that you use a different email and wallet than the wallet for storing/accessing large funds.

[$crypto$]

Use the second email or web3 wallet only, do not use the main account.

For example, you too often connect directly to many DEXs, especially new DEXs that are sometimes still vulnerable, so don't use wallets that have many assets, this can be a big risk for you to click on the wrong phishing site or suppose the DEX contract address is exploited then your wallet can be drained.

Likewise with email registration, if the data is leaked it can also be dangerous, right? You still have to be careful and careful.

[o48o]

It's better as a crypto user, you don't connect your wallet to platform that ask for it because they can use that medium to drain your wallet. We have heard about a lot of wallet that has been drained by connecting to random site.

I prefer email registration for safety. This is why it's better to use a different wallet entirely for your savings and a different wallet for airdrops with zero balance.

I agree but this is ironic, as back in time we are hoping for use cases like this for adoption. Now we want to be extra careful for connecting our wallets to anywhere as we realize it's not safe.

And since i don't believe this is going to change to anything safer when we have to keep our wallets safe, i doubt there will be this sort of adoption in the future.

[elda34b]

I agree but this is ironic, as back in time we are hoping for use cases like this for adoption. Now we want to be extra careful for connecting our wallets to anywhere as we realize it's not safe.

To be fair it isn't like people aren't careful with emails or anything related to their identity today. We have many attack vectors that scammers can use to trick people or drain our funds. From getting fake support calls and whatnot. Even I'm not comfortable registering with a phone ID for example. Not to mention other use cases like using token for payment and others are certainly driving more usage compared to a simple wallet login.

[TastyChillySauce00]

I agree but this is ironic, as back in time we are hoping for use cases like this for adoption. Now we want to be extra careful for connecting our wallets to anywhere as we realize it's not safe.

To be fair it isn't like people aren't careful with emails or anything related to their identity today. We have many attack vectors that scammers can use to trick people or drain our funds. From getting fake support calls and whatnot. Even I'm not comfortable registering with a phone ID for example. Not to mention other use cases like using token for payment and others are certainly driving more usage compared to a simple wallet login.

Exactly. We are so paranoid because scam attack is on the rise, but generally speaking connecting an address that you use to store your money is never a good practice to begin with.

Connecting to a website should actually be safe because the website can only receive your public address and you should use a hot wallet or address that you can easily dispose, what's harmful is what comes after when the website request you to sign a transaction. Someone that doesn't know how it works may sign a transaction without knowing what the transaction is all about. A token spending approval with seemingly miniscule fee is what it takes for a malicious website to drain your entire wallet.

However, after clear signing is a thing the attack vector has been reduced and you can easily figure out what the transaction is all about. Still, it's always better if you don't connect your wallet with website randomly, only trust the trusted ones.