Many people learn about the stress and difficulties involved with being the custodian of their own wealth when it comes to storing their own crypto assets. Anyone new to DeFi and crypto in general may find it extremely difficult to securely store private keys, comprehend gas fees, and continually verify that they copied the correct address.
Table of Contents
What is Argent Wallet?
Let’s first determine what the best cryptocurrency wallet is before moving on to the core Argent wallet reviews.” The digital wallet Argent, which is used to store cryptocurrencies, provides some sizable advantages for potential platform users. Launched in 2020, Argent is a cryptocurrency only accessible via the Ethereum blockchain. Several factors have allowed Argent wallet to become well-known.
Argent was only initially offered as a restricted beta when it was first released in 2018. Argent wallet has just closed a $12 million funding round led by Paradigm and is now freely accessible to all users, giving them access to one of the most feature-rich Ethereum wallets available.
A non-custodial wallet called Argent has a special recovery system called Argent Guardians. By doing so, users can ensure the security of their funds without having to memorize lengthy recovery phrases or backup their private keys.
The wallet’s simple user interface is a plus. Despite the fact that Argent is incompatible with other blockchains, it appeals to a sizable audience that seeks a straightforward and secure wallet. The Argent wallet stands out for experienced users who are much more familiar with DeFi and can profit from their crypto assets thanks to a variety of advanced features.
Pros & Cons Of Argent Wallet
Pros
- provides more security layers than other crypto wallets.
- Additionally, it facilitates simple recovery and supports hard wallets.
- provides interest returns on the assets that users have lent through DeFi.
Cons
- Users of desktop or laptop computers cannot access any platforms; they can only use mobile apps for iOS and Android.
- New users may find it difficult to navigate the indirect process of storing wrapped Bitcoin.
What Is The Mechanism Of The Argent Wallet?
Tokens for the Ethereum blockchain can be stored by users using the Argent wallet. Since Argent is an open-source project, interested developers are free to modify the wallet or view its source code. Numerous features for DeFi (decentralized finance) are available in the Argent wallet. It’s important to keep in mind that Argent is a non-custodial wallet, meaning that users always have control over their assets and are the only ones who can access their wallets because they hold the private keys.
Argent offers biometric access in addition to having impressive wallet security. With the assistance of different DeFi protocols like Aave, Compound, and Yearn, among others, users of the platform can also earn interest on their assets. Despite being restricted to a single blockchain technology in its beta version, Argent Wallet was still able to raise a net amount of $16 Million.
Argent Wallet Supported Assets
In contrast to many mobile wallets, Argent doesn’t support a variety of different cryptocurrencies. Actually, Ethereum (ETH) is the only cryptocurrency that it was designed to work with.
However, customers can also keep a variety of tokens built on the Ethereum platform in their Argent wallet. Users can deposit and send any of the more than 250,000 ERC20 tokens that are currently active on the network using the app.
Many of the most well-liked digital assets are included in this, such as almost all stablecoins, DeFi tokens, and exchange utility tokens.
How Do I Configure And Activate My Argent Wallet?
Argent is accessible on iOS through the App Store and on Android through the Google Play Store. Like any other mobile app, the wallet is available for download. For a download link, visit the Argent website.
The following setup guidelines are for the Android version of the app, but they will still work with iOS.
Argent is accessible on iOS and Android devices, respectively, through the App Store. Like any other mobile app, the wallet can be downloaded. For a download link, visit the Argent website.
Although the setup instructions below are for the Android version of the app, they will still work on iOS.
Step 1. Add funds
Select “+ Add Funds” from the Assets tab’s main menu. You pay your opening fee on the screen after that.
Step 2. Authorisation fee
The set-up fee can be paid in ETH, DAI, USDC, or USDT. If you select ETH, the fee (which is currently 0.0023 ETH at the time of writing) will change based on how busy the Ethereum network is. It costs $5 USD if you use one of the three stablecoins. After selecting “Deposit,” proceed as instructed.
Step 3. Home country selection
Choose your country of residence on the following page.
Argent home country selection
Step 4. Cryptocurrency deposit method
The next step is to decide how you want to add cryptocurrency to your wallet. Alternatively, you can send cryptocurrency from another wallet or exchange if you prefer not to use a credit or debit card for the direct purchase of cryptocurrencies. Select the option by clicking it.
Clicking “Get Started” will take you to Argent’s partner MoonPay where you can use a credit or debit card. Choose ETH, USDT, BAT, DAI, TUSD, USDC, or WBTC from the dropdown list. You’ll have to confirm your email with MoonPay the first time you use this service.
You will be given the option to copy your Argent wallet address (the lengthy string of numbers and letters beginning with 0x) when you click “Share” for a wallet/exchange deposit. Now enter the address into the “Send” or “Withdrawal” service of your preferred cryptocurrency wallet (such as Metamask) or exchange wallet (such as Binance). To send the selected cryptocurrency to your brand-new Argent wallet, click “Send.”
Step 5. Set a gas limit
You’ll see a small note that reads, “Set gas limit to 23,300 when sending ETH” on the following screen. This gas limit feature was most recently added by Argent. You can decide how much gas you want to pay when transferring cryptocurrencies to your Argent wallet thanks to this. Keep in mind that if you pay less for gas, the transfer of your cryptocurrency assets might take longer.
Argent set a gas limit
Step 6. Check balance
You can view your balance at the top of the screen by returning to the Assets tab. Your preferred fiat currency display can be changed in the Profile tab.
Is It Simple To Use Argent Wallet?
The wallet’s user-friendly Guardians system, which enables users to set a trusted quorum of people or other devices that can be used to authorize a recovery attempt, completely eliminates the need to manage private keys or deal with recovery phrases directly. Argent is also one of the few cryptocurrency wallets to make use of the Ethereum Name Service, which essentially enables users to create a human-readable address that can be used for quickly sending and receiving ether and ERC20 tokens.
It’s also one of the few wallets that doesn’t charge transaction fees; to be more specific, Argent pays the blockchain network fees so that users don’t have to. Since figuring out and paying for the appropriate gas costs is a process that isn’t particularly intuitive, this likely removes one of the biggest friction points to using Ethereum.
Conclusion
Argent has been successful in developing a wallet that provides bank-like security on a cutting-edge, decentralized platform. Its clever use of smart contracts represents a significant advancement for blockchain technology and demonstrates how to make its applications understandable for general audiences.
Overall, we are extremely satisfied with Argent’s smart contract wallet. Argent is unquestionably the market leader in the wallet space thanks to the variety of security features it provides, along with Venmo-like functions and a few DeFi integrations. Argent’s commitment to pushing the boundaries of wallet innovation and offering a better user experience for the upcoming wave of cryptocurrency adopters excites us greatly.