---
description: >-
  Guard your digital assets with Venom Wallet. Bite-proof security for seamless
  crypto transactions and peace of mind.
---

# Venom Wallet

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Day by day, the world of decentralization is becoming more of a reality as blockchain initiatives expand. The ability to combine huge transaction volumes with the highest level of security has been leveraged by several ventures to fit into this fast-paced world. With cutting-edge fintech supported by web3, DeFi, and blockchain, we are witnessing the rise of the Venom Blockchain.&#x20;

The Venom foundation is working to support the world’s economies with a strong base for CBDCs and several Web3 initiatives. In this blog, let’s dissect the Venom Blockchain and its foundational interests and know more about why it is poised to be one of the finest solutions today.

## **The Venom Foundation** <a href="#the-venom-foundation" id="the-venom-foundation"></a>

The Venom Foundation is the first crypto foundation officially registered in the Abu Dhabi Global Market (ADGM). With the ability to operate [blockchain technology](https://accubits.com/what-is-blockchain-technology/) and issue utility tokens, the foundation is poised to bring a fresh wave of innovation to the world-renowned financial hub.&#x20;

Strategically located in the capital of the United Arab Emirates, ADGM has earned its reputation as an award-winning international financial center and a hub for cutting-edge fintech and financial services.

The ADGM, an International Financial Center in Abu Dhabi, has already established a framework to regulate spot crypto asset activities, including those conducted by exchanges, custodians, and intermediaries operating within its jurisdiction.&#x20;

The foundation offers [B2B blockchain services](https://blog.accubits.com/implementing-blockchain-in-business/) to help governments, developers, and companies implement solutions such as NFT marketplaces, derivatives exchanges, and fiat-backed stablecoins. The Foundation will work with stakeholders to ensure compliance with regulations set by the Abu Dhabi Global Market (ADGM) once the necessary regulatory approvals have been obtained.

## **What is the Venom Blockchain?** <a href="#what-is-the-venom-blockchain" id="what-is-the-venom-blockchain"></a>

The Venom blockchain is a state-of-the-art technology that offers limitless scalability and heightened security through its dynamic [sharding](https://blog.accubits.com/sharding-crypto-explained-how-does-blockchain-sharding-work-in-crypto/) and adaptive, flexible nodes. This asynchronous blockchain provides decentralized solutions with improved security features.

Venom is managed by the Venom Foundation, which concentrates on three key areas of innovation: Essential Infrastructure, Support for Incoming Projects, and Developer-Friendly Platforms.&#x20;

With a focus on the Middle East and North Africa, the Foundation’s goal is to help corporations and governments seamlessly transition to [Web3](https://blog.accubits.com/what-is-web-3-0-and-why-does-it-matter-for-a-business/), enabling them to handle large transaction volumes without sacrificing speed or incurring excessive network fees.

## **How to Get Started with Venom Blockchain?** <a href="#how-to-get-started-with-venom-blockchain" id="how-to-get-started-with-venom-blockchain"></a>

To utilize Venom, an individual must establish a Venom wallet account. The Venom Wallet platform offers various account options, including personal accounts (default) and multi-signature accounts for corporate purposes. Upon creation of a default wallet account, a seed phrase is generated. Users can install the Venom Wallet browser extension or obtain the IOS or Android app to create a new Wallet Account.

Step-by-Step Guide for Setting Up a New Account on Venom Wallet:

* **Step 1.** Launch the Venom Wallet browser extension or app and select the “create a new account” option under wallet setup.
* **Step 2.** Read the decentralization policy and, if agreed, select “I accept.”
* **Step 3.** Press the “submit” button.
* **Step 4.** A one-of-a-kind seed phrase will be automatically generated.
* **Step 5.** Enter the seed phrase words and press “confirm” to confirm that you have accurately remembered the unique seed phrase. If you have successfully entered the words, you will move on to creating a password for your wallet.
* **Step 6.** Establish a password to secure your wallet transactions. The password must be at least eight characters and contain a mix of uppercase and lowercase letters, numbers, and special characters.
