One of the bigger obstacles to mass adoption of cryptocurrency is the non-accessibility and complexity of managing digital assets in a secure and simple way. Ease of use was the main motive of the Argent founders while working on the idea of a mainstream crypto wallet. In addition, user-friendliness is the most important feature and advantage that one cryptocurrency wallet must-have. Newcomers, when entering the space for the first time, are facing long alphanumeric addresses, private keys in form of the 12 or 24 word seed phrases, and a mention of paper or hardware wallets. Ethereum wallet Argent is aiming to tackle this problem by creating a simple user interface on which average Joe can use it form his pocket wherever he is. Therefore, we have compiled a thorough Argent review that's going to teach you all you have to know about this simple but innovative project.
Non-custodial smart contract wallet
Argent is a non-custodial mobile wallet. Which means that users are in control of their assets. A non-custodial wallet is a decentralized crypto storing software where customers own their private keys. In Argent's case, your phone holds a private key, and a smart contract holds your funds. The private key is not in the form of a seed phrase, which differentiates Argent from the other non-custodial wallets.
Guardians
It is possible to recover your funds in a very innovative and simple way. Users can add a guardian, which can be a trusted person, Argent's own guard service, or a hardware wallet that is in your complete control. So-called "social recovery" is a unique feature in the crypto industry. Guardians are able to lock your wallet in a case of theft or a loss of your phone. An Argent user can add as many Guardians as they like, the only condition is approving the request. These features became a prominent and secure way of storing Ethereum-based assets on your phone.
Human-readable address
Argent is one of the few cryptocurrency wallets that use the ENS (Ethereum Name Service) system which allows users to create unique Ethereum addresses (e.g. yourname.argent.xyz) that can simplify sending and receiving ether and ERC-20 tokens.
Argent Review - Features
The wallet allows users to access 8 different DeFi protocols within the app, just by a click of the button. These are :
- Aave
- Compound
- Dai Savings Rate
- Kyber token exchange
- PoolTogether
- Social TokenSets
- Robo TokenSets
- Uniswap V2 liquidity
By integrating all these protocols into one application, Argent became a go-to solution for mobile users which can access different DeFi services such as lending, borrowing, saving, etc.
Design
Developers behind Argent are clearly focused on a minimalistic design. The modern approach tries to minimize the number of options and tools that are available to users. Most of the wallet's buttons showcase their functions in a simple manner. Navigation is smooth, and during the last 2 months of using the wallet, we didn't experience any lag. Also, the orange attracts attention and leaves a striking impact.
Fiat gateway
Argent partnered with MoonPay to enable the purchase of cryptocurrencies using credit and debit cards, bank accounts, or the Apple Pay service.
You can also top-up your account with cryptocurrencies directly from any crypto wallet.
Argent review - the verdict
Argent aims to bring DeFi to the mainstream, which is a very ambitious goal. However, "Argent is only a part of the solution", the founder Itamar Lesuisse admitted. While it is only a mobile wallet, most importantly, Argent's great UX makes the final product generally outstanding. Wallets play an important role in making crypro and DeFi as usable as possible. Moreover, they can help in onboarding new users and bring DeFi to the wider audience.
Argent is designed to connect users to popular DeFi protocols. However, it doesn`t support any non-Ethereum assets. The lack of multi-asset support is the only drawback that stands out.
Pros
- No seed phrases
- Guardian security
- Human-readable addresses
- Sleek design
- Great UX
Cons
- Lack of multi-asset support
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Originally published on CoinSyncom: https://coinsyn.com/argent-review/