some good mobile wallets

By whattheclap | bruhhurb0912 | 3 Nov 2020


I like crypto. Who doesn't? It's a cool way to own money and with so many dApps, using that crypto is a blast. The wallet you use for storing your crypto plays an important part in how easily you use your money. Here's a list of some crypto wallets that I've used and my thoughts on them.

1. Coinomi Wallet

This was the first wallet I used back when I was first just starting out with crypto. It has a simple interface and has support for hundreds of different coins and tokens, displaying the price of each and every one of them, if possible. You can also add custom tokens to the wallet on the BNB, Ethereum, Nem, OmniLayer, and Tron blockchains.

Coinomi has both a mobile app and desktop app, but the mobile app offers more features. The desktop app works fine for sending and receiving, but does not offer as many features as the mobile app. The mobile app allows you to exchange and buy crypto, and has baked in support for a few dApps like Unstoppable Domains and Totle Swap. It also has a built in dApp browser allowing you to connect to dApps that support Web3 wallets. The desktop app is nothing more than a simple Electron app with a wallet and exchange. You can download it form https://www.coinomi.com/en/downloads/

Coinomi is a basic wallet that is good for starters.

2. Argent Wallet

Argent wallet is a mobile-only, Ethereum wallet. It only supports Ether and ERC-20 tokens, but it offers many great integrations with DeFi apps - Compound, Aave, TokenSets, Uniswap, PoolTogether, Dai Savings Rate (no point since the DSR is 0%) and has just recently come out with its own DEX aggregator.

Argent calls its app a "smart contract wallet," meaning there is no private key, rather "Guardians," other users of the Argent app or another Ether wallet that can help you recover your wallet or make big transactions. There is a daily limit that caps the maximum amount of crypto in Ether that you can spend, but it can be bypassed with approval from at least 1/2 the amount of Guardians you have. Guardians are also used to recover your wallet - if you redownload the app, you'll have to get approval from your Guardians (your phone number and email address are considered 1 Guardian) and wait 72 hours before you have access to your funds. The developers call this a security mechanism, so in case a bad actor gets access to your account, they have to wait 72 hours before stealing your crypto, and you'll have enough time to cancel the wallet recovery.

Aside from security, Argent also supports WalletConnect to connect to supported Web3 dApps. It is still a bit buggy, so I use MetaMask for small transactions like that.

When you create your wallet, you get your own ENS (Ethereum Name Service) address - a more readable ETH address. For Argent wallet, you get an ENS in the form of <your_user_name>.argent.xyz. This is also used when signing into the app.

When creating transactions, you select the address to send funds to - a contact, by typing the address or ENS address in, or scanning a QR code containing an address with your phone camera. One drawback to creating transactions is that you can't pick the gas/transaction fee - Argent does this automatically, so dApp transactions often have very high fees.

Overall, Argent is a solid app with a wonderful user interface that makes holding ETH and other ERC-20 tokens a joy, with inbuilt support for buying crypto through Wyre, and some of the most popular DeFi apps at a tap.

You can get the app from https://argent.xyz/

3. ZenGo

ZenGo is a multi-currency mobile crypto wallet whose main gimmick is a "face private key." Unlike traditional wallets, ZenGo uses a scan of your face as the private key for your wallet, so you don't have to restore using a 12 or 24 word seed phrase. It does work, but I'm a bit concerned of how it'll work with people whose faces change over time. For now it'll work.

ZenGo supports Bitcoin, Ether, some ERC-20 tokens, and Tezos, just to name a few, but its list keeps growing. Through the "Savings" tab in the app, you can deposit your ETH or ERC-20 tokens into the Compound protocol to lend out to borrowers and earn interest. There is also support for staking Tezos, a different cryptocurrency. And that's about it for growing your crypto.

You can also buy crypto through MoonPay, but bear in mind that it requires KYC, regardless of the amount you purchase.

Finally, there's a swap feature that allows you to swap your crypto for a different type of crypto. Unlike Uniswap or other decentralised exchanges, this swap feature is most likely centralised, just because the transaction fees aren't high (Uniswap runs on smart contracts, which require more gas to complete a transaction) and you can swap, say, Bitcoin for Dai.

ZenGo does not have support for connecting to Ethereum dApps, but it is still a good wallet.

Get it at http://zengo.com

 4. Rainbow Wallet

Rainbow Wallet is a pretty wallet that runs on the Ethereum network only. Like Argent, it has support for WalletConnect, but no native integrations with dApps. Rainbow has its own service for buying crypto (ETH or Dai), but since they don't do KYC, you can only buy up to $250 worth of Ether a day, or $5000 per year. Currently, there is only an iOS app, but there is an Android version in beta.

Rainbow uses a 12 word seed phrase for wallet recovery, but if you like, you can use a 24 word seed phrase.

You can also add an ENS name or Ethereum address to a watchlist.

The interface is clean and simple, but using it is fun! Get it from https://rainbow.me

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whattheclap
whattheclap

Crypto enthusiast and developer


bruhhurb0912
bruhhurb0912

random stuff about crypto and tech

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