Argent Wallet Overview

It is heartwarming to see your crypto assets appreciate so much in value but thinking of how to secure them well can be mind boggling. There is work involved in making sure no one else has access to your private keys and you will also have to cope with the stress of being sure your wallet address is correct each time you are about to receive money. All these in addition to the gas fees required make it look stressful to join the DeFi or crypto community.

Trying to beat these stressful conditions is important so that the campaign to include many more people into the crypto space can be achieved. If the processes involved in keeping and accessing crypto assets are simplified, the community will be more inviting.

Argent Wallet was created to ease the burdens addressed above. It was built as a smart contract wallet from Ethereum and requires no custody. Many people already seem to like it as it has gotten a 5-star rating from users that have iOS. It is also downloadable from Playstore.

A quick review of what you can get from Argent Wallet:

1.    The ability to get back your cryptos without submitting documents.

2.    No-cost transactions.

3.    Addresses that are easy to memorize.

It was easy for Argent to come with these because it was based on smart contracts.

What it means to have smart contract wallets

When a wallet is said to be of the smart contract type, it means it requires no custody and that it uses smart contracts to make its numerous benefits possible. It is easier with Argent in that your phone or tablet handles the private keys while the money is kept safe with the smart contract. These wallet features are quite different from the norm but they are more appealing.

With the Argent type of wallet, you can now sleep with both eyes closed. The work involved in managing wallets and making sure nothing happens to your funds or login details is now minimized.

What you get

Argent wallet has brought something new into what used to be known about crypto wallets. It even appears to be better than other wallets that also do not use custodial services. Some of its peculiarities include:

Recovery Tools: There is something known as Guardians introduced by Argent. They are people or devices one can trust to return lost money in the absence of a private key. This means you are not going to lose your money even if someone steals your device. Also know it that these Guardians are completely ignorant of your private keys.

Place Daily Limits: Just like with the banks we are used to, it is possible on Argent to define limits to your account. This can be deciding on the maximum you can withdraw per day. This is good because it removes the fear that your account will be emptied by anyone that hacks it.

Memorizable Addresses: Argent leverages on Ethereum Name Services (ENS) to create addresses that one can easily read and memorize. This reduces the stress involved in double checking addresses each time you are expecting money. It has features similar to that of Venmo mobile payment.

Cost-free: Argent feels the era of charging transaction fees should come to an end. This means it is possible to buy or sell ERC-20 tokens such as DAI even if there is no Ethereum left in the account.

These packages from Argent makes its wallet one of the easiest to use and those new in the crypto space will not experience any of those hard times experienced by their fore fathers. As if these extraordinary features are not enough, Argent still took a step further to bring in some DeFi apps to make it more interesting.

The DeFi apps

Argent is among the top choices of DeFi users because it is a platform from where other features presented by DeFi can be accessed by clicking one or two buttons. Argent was able to incorporate other platforms through its Argent V1 version.

MakerDAO: Because almost everyone in DeFi makes use of MakerDAO, Argent satisfies its users with the ability to migrate in and out of Maker from its platform. Maker is a place where one can get DAI loans while keeping a commensurate amount of ETH as collateral. Even if you are logged in to Argent, it is possible to perform all you would love to do on MakerDAO without logging out.

Compound Finance: Compound remains one of the most used protocols for lending. Therefore, Argent thought it wise to also incorporate it into its platform. Compound offers anyone the opportunity to make extra money by lending their assets to the teeming population looking for loans. The lenders can recover their assets anytime they wish with all the profits they accumulated.

Kyber Network: For those who are more knowledgeable in trading crypto assets and can do so on Kyber Network, Argent gives you an opportunity to also perform from its platform.

Challenges

Although Argent has done marvelously well by creating a wallet with outstanding features, it still has some challenges to deal with. One of the reasons why someone may still choose not to sign up despite its features is that it only supports Ethereum assets. Hence, owners of Litecoin, Bitcoin, Tezos and the rest of them will find no place to dwell. But it is possible to keep wBTC since it belongs to the ERC-20 variant.

Another disadvantage with Argent is that there is no guarantee that you will join the moment you sign up. The wallet is still new so Argent presently lacks the capacity to satisfy every interested member. This does not mean Argent does not accept new applications but bear in mind that you may be on the queue waiting for others who registered before you to be absorbed into the system. In time to come, it is expected that Argent will grow past this level.

Summary

Nevertheless, Argent has built an attractive smart contract wallet. Venmo users like it because of the similar features they see on it and the steps taken to provide safety of funds is second to none. It gives joy to see that most of the challenges that existed in the past concerning crypto wallets have been taken care of by Argent. Owing to its passion for innovation, it is very likely that Argent is not done yet with its impressive performance.

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