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Argent Wallet Review
LearnDefiNewbie
April 18, 2022

Argent Wallet Review

The Argent Wallet is one of the latest trends in a wide variety of crypto wallets, catering only to users that operate solely on the Ethereum smoke chain. Argent Wallet Review allows users to store only Ethereum-based tokens and is available for compatible devices based on both Android and iOS.

Argent has quickly gained traction thanks to the variety of features it offers, including an Ethereum wallet. DeFi wallets allow users to secure crypto assets and store their private keys securely in a wallet protected by various layers of security. Users can also earn interest by using the platform’s services and making trades for free to some extent.

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What is the Argent Wallet?

Argent is a digital wallet used to store cryptocurrencies and offers a number of lucrative benefits to potential users of the platform. Argent is only available on the Ethereum blockchain and it’s already launched in 2020. For a host of reasons, the Argent Wallet has been able to make a name for itself.

One plus of the wallet is the easy-to-use user interface. Argent attracts a large audience that wants a simple and secure wallet, even if it is not compatible with other blockchains. A wide range of advanced features have also made this wallet effective for experienced individuals who are more familiar with DeFi and can monetize their crypto assets with the help of the Argent wallet.

How does Argent Wallet work?

Argent Wallet allows users to store their Ethereum blockchain tokens. Argent is also an open source project, which implies that interested developers can create their own version of the wallet or view its code. Argent Wallet offers many features for DeFi (decentralized finance). It is worth remembering that Argent is a managerless wallet, and as users retain their private keys, their assets are always under their control, and only they have access to their wallets.

Argent has impressive wallet security, and it also offers biometric access. Users of this platform can also earn interest on their assets with the help of different DeFi protocols like Aave, Compound, and Yearn, etc. During its beta, Argent Wallet was able to raise a net amount of $16 million despite being limited to a single blockchain technology.

Features of the Argent Wallet

The wallet has been able to capture the attention of a significant portion of the users in the market (although it can be considered a new wallet in the market) with the help of key features that make it a good deal. The platform, for the most part, provides free transactions and deals with a small amount of gas fees, if and when they apply.

Argent Wallet has been able to maintain a high level of transparency for the platform’s fee structure. Transaction fees are not the only perks users have in their wallets. Individual users can also earn up to 20% interest on their assets, which makes the Argent wallet one of the best crypto wallets, and users should try it once for its benefits.

Compatible DeFi protocols in the wallet allow individuals to lend their assets through instant transactions and make them part of different Ethereum-based lending pools. Functions like remote locking, multi-signature protection, and easy recovery make it stand out from most other wallets and eclipse its limits on Ethereum. Finally, the smart contract wallet also generates a simple Ethereum address (a human-readable address).

Pros and Cons

Pros

  • It offers multiple layers of security compared to other crypto wallets.
  • It also supports hardware wallets and allows for easy recovery.
  • Delivering returns in the form of interest on assets lent by users through DeFi.

Cons

  • There are no desktop platforms or desktop users; only mobile apps for iOS and Android are available.
  • The process of indirectly storing wrapped Bitcoins can be a challenge for new users.

Fees Of Argent

The majority of transactions on the platform do not come with a fee from the wallet itself, and the website makes a similar claim (“Argent does not profit from network fees”). It’s possible that a wallet, if not a wallet, only has this feature. Similar to other mobile wallets, this Ethereum wallet only charges gas fees. Additionally, users may have to pay fees to fiat exchanges or exchanges (0.5% in that case). Dapp fees should also be kept in mind for users who plan to link their wallets with other apps, and this fee will vary from app to app.

Security Of Argent

The list of security features can be considered above industry standard. From a security standpoint, since it is only available for Ethereum, it has a smaller number of variables to consider. This platform It provides multi-signature, remote locking, and security methods related to users’ biometric information to ensure safety.

The lack of any seeding makes for an easy process in which users control all their assets without Argent controlling any assets themselves. The private key architecture is one of the leading security standards in practice. Argentine defenders boost security in a variety of ways. Argent Guardian can be used to approve any transaction in progress with an untrusted address. The user’s friends or their hardware wallets and other means can become Argentina’s defenders.

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