Working with cryptocurrency in one way or another involves the use of fiat currency. Each user can purchase cryptocurrency for traditional dollars, euros, and pounds sterling. To work with monetary assets, it is important to use reliable tools that provide access to profitable offers. One such service is https://rates.fm/. If you are a fiat currency owner who is looking for the best wallet for storing crypto assets, then this article is for you.
What is a DeFi Wallet?
A DeFi wallet is an essential attribute of a Web3 user. To communicate with any DApp, you need a crypto wallet to stake coins, swap on DEX exchanges, make a deposit and receive a loan in Bitcoin or any other cryptocurrency, add liquidity to pools, farm and perform other operations.
According to the World Bank, 1.7 billion adults worldwide are unbanked. Most of these users are in China (224 million), India (191 million), and Pakistan (99 million). In the USA, about 4.5% of households are unbanked. The DeFi sector at least partially helps to solve the problem: access to DeFi requires only an Internet connection, a crypto wallet, and a device on which the user will use the client.
These solutions have several features:
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non-custodiality
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ability to interact with (DApps)
Non-custodial means that private keys are stored on the local device of the user himself, and only he is fully responsible for the safety of his funds. Neither the company nor anyone else has access to the private keys.
The ability to interact with DApps means that the user connects the wallet to the application and performs various operations in it, such as staking, swaps, adding liquidity, farming, landing, buying tokens on IDO, and others.
Best DeFi Wallets
Whether you’re in the bustling Los Angeles of California or the quiet outskirts of Houston, Texas, you can always have access to a DeFi wallet. Let’s take a look at the best DeFi wallets that are suitable for both beginners and experienced users.
MetaMask
Although MetaMask is one of the most popular clients, the functionality of the wallet is inferior to more modern clients such as XDEFI and Trust Wallet.
Main functions
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Swaps: MetaMask has a built-in aggregator that helps you find pairs at the best exchange rate;
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Built-in DApp browser (mobile version only);
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Adding ready-made and custom networks;
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Gas setting for transactions.
Trust Wallet
Trust Wallet is one of the main competitors of MetaMask, the solution is supported by the Binance crypto exchange. The wallet has support for multiple networks, swap, staking, and a built-in DApp browser, but lacks hardware wallet integration. In Trust Wallet, you can create or import up to 15 wallets.
Main functions:
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Multichain: fast switching between networks;
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Staking (app only);
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DApp browser (app only)
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Built-in purchase of cryptocurrency for fiat (only in the application);
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Graph tracking (app only).
Ledger
The most popular among hardware wallets. For asset management, developers provide the Ledger Live application, available on desktop and mobile devices. However, the application can only be used in conjunction with the device: Ledger does not support hot wallets.
Main functions:
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Staking;
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Swaps;
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Built-in purchase of crypto for fiat with Visa or PayPal, etc;
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NFT support;
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Download DApps to the device and use them directly in Ledger Live;
1inch Wallet
A mobile crypto wallet created by the developers of the leading 1inch DEX aggregator, with support for EVM-compatible networks. The crypto wallet has one interesting feature: scanning the seed / private key with a smartphone camera is the easiest and fastest way to import a wallet.
Main functions
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Swaps via DEX;
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Buying crypto for fiat;
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Access to DApps;
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Holding and buying NFTs;
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Staking 1INCH;
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Built-in games;
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Advanced management of transaction fees;
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The instant signing of transactions;
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Flash transactions: Transactions do not enter the public blockchain mempool until they are confirmed.
Argent
It is a non-custodial wallet with a DApp catalog (DeFi explorer) and a permissions manager. The Argent user can track which DApps have granted spending permissions and revoke them.
The user chooses how he will store the private key: in iCloud or using the Guardian. The guardian can be a hardware wallet, a trusted user, or some third-party service. When choosing the iCloud recovery option, one part of the private key is stored in Argent and the other part is stored in iCloud.
Main functions:
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Buying crypto for USD, EUR, etc;
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Swaps;
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DeFi explorer with a limited set of DApps;
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Monitor and manage permissions;
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Additional protection options.
Rainbow
This is a simple multi-currency Ethereum wallet for iOS and Android with a beautiful interface. Rainbow functionality is limited but allows you to quickly create multiple accounts for Ethereum, like in MetaMask.
In the wallet, you can monitor the rates of crypto assets just like fiat currencies in Rates and add the coins/tokens you like to the watchlist or favorites. It is also possible to add liquidity to Uniswap pools right in the app. The wallet connects to other DApps via WalletConnect.
Main functions
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Swaps;
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Overview of Uniswap pools and adding liquidity;
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Asset monitoring.
Math Wallet
Multi-chain wallet for advanced DeFi users. Math Wallet allows you to simultaneously manage a large number of wallets in different networks, connect to Web3, and enable / disable unused networks.
Also, Math Wallet is presented as a mobile and full-fledged web wallet that supports only one blockchain and networks compatible with it.
Main functions:
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Adding custom networks;
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Fast switching between networks and accounts;
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App store (browser);
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DApp browser (application);
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The web wallet supports Ethereum <-> BNB Chain cross-chain swaps.
Final Thoughts
Whether you’re a Bank of America or Aetna customer, the modern world requires a responsible approach to the control of funds from a person. You can track the dynamics of fiat currencies with the Rates service and use the wallets mentioned in the article to manage your cryptocurrency savings. Such currencies as USD, EUR, PLN, GBP, AUD are available to users for tracking. Daily, weekly, monthly and annual dynamics are available for tracking.
