If you are a crypto enthusiast, you must be using a wallet. However, if you do not like any kind of third-party involvement, we have great news for you. Ambire Wallet is the first non-custodial wallet that does not require a seed phrase. It has launched a convenient, easy-to-use, and efficient wallet with outstanding UX. Not only this, the platform and its wallet have much more to offer that we will be going to shed light on in this article.
How did Ambire Wallet originate?
Ambire Wallet is created by the team behind AdEx Network (now Ambire AdEx) that originated in 2017 as a blockchain-based ad network. The company AdEx Network was known as the provider of new generation ideas and solutions for decentralized digital advertising. With their Layer 2 solution OUTPACE, they became the biggest payment channels network on Ethereum. However recently, AdEx has shifted its focus and rebranded into Ambire. The company is now focusing on Ambire Wallet – a new-generation non-custodial crypto wallet with integrated DeFi capabilities.
The Ambire AdEx platform already has a family of more than 17,000 registered corporate users (advertisers and publishers), and Ambire Wallet has been able to grow to $45M TVL and 65,000 users just a few months after launching.
Key features of Ambire Wallet
Ambire Wallet was launched in December 2021 and has more than 65,000 wallet users to date holding $48.5 million worth of crypto assets at the time of writing this article. Ambire Wallet is an open-source smart wallet that facilitates multiple technological advances that we have listed below:
Seedless and easy logins
Signing up to your Ambire Wallet is easy. You can create your account using your email and password only. You do not need to generate, remember, and enter your seed phrase every time you log in to your account. Furthermore, smart recovery helps the users in the case of lost access to their wallets .
Because Ambire is a smart wallet, email/password accounts are actually 2/2 multisignature wallets. As such, they’re entirely non-custodial. One key is in-browser and password-encrypted, the other is on a hardware security module (HSM) on the Ambire backend. A user needs both to control the account. This makes Ambire way different from existing “easy web3” solutions, significantly more secure and trust-minimized.
Save Fees and Time on Transaction batchings
Another great feature of Ambire Wallet is the possibility to batch transactions together. This means eliminating unnecessary approvals, and performing complex DeFi interactions done in a single transaction. This saves not only time but also gas fees. The gas automation facility lets users use the ERC20 token to pay the transaction fees without any approvals. You can even pay using stablecoins.
Transaction parsing
One of the most important UX improvements that Ambire Wallet offers is transaction parsing – i.e. human friendly transaction visualization. This way, even beginners can easily see and understand what exactly are they signing and what will be the end result of their interaction with the blockchain.
Hardware wallet support
Ambire Wallet users can easily add a hardware wallet like Trezor or Ledger as a signer even to an email/password wallet account, thus getting upgradeable security.
On-ramp deposits
People who are just getting into crypto can easily acquire their first digital assets with fiat currency. Ambire Wallet has integrated three on-ramp solutions – Ramp Network, Transak and Paytrie, with more on-ramp partners coming soon.
Integrated swap and cross-chain functionalities
Users can easily exchange cryptocurrencies within Ambire Wallet. It also supports cross-chain functionalities for bridging between the supported networks.
Currently, Ambire offers six major networks: Ethereum, Polygon, Binance Smart Chain, Avalanche, Fantom and Moonbeam. More chains are coming soon.
Get Access to DeFi with Just a Click
Ambire Wallet lets users gain easy access to DeFi protocols for yield generation. Currently, Aave and Yearn are integrated on Ethereum, and on Polygon users can take advantage of Aave and Tesseract Finance. The Ambire team promises to add more DeFi protocols in the future.
No browser extensions
Ambire is a browser-based wallet that doesn’t require users to install any extensions This means that it can also be used on a mobile browser until the native Android and iOS apps are released in the near future.
Frontrunning protection
Being a smart wallet, Ambire enables frontrunning and sandwiching protection by using transaction broadcasting mechanisms such as Flashbots and Eden.
NFT dashboard
Ambire Wallet visualizes user’s NFTs straight into the dashboard. The team is currently working on an improvement that will allow trading NFTs without leaving the wallet.
The $WALLET token
Ambire Wallet comes with its own governance token called $WALLET. The purpose of the token is to enable users to participate in governance votes concerning the wallet; it is also used to incentivize new and existing users. For example, early wallet users are eligible for a continuous $WALLET airdrop that distributes generous rewards.
The $WALLET token can also be staked for additional rewards.
What makes Ambire Wallet Unique?
Ambire Wallet is the first cryptocurrency wallet to combine seamless UX, outstanding non-custodial key management and dashboard information.
Packed with various features, it is an excellent tool designed to cater both to crypto beginners and to whales. With swap, DeFi and NFT functionalities integrated in it, Ambire is truly the only crypto wallet a user needs.