Argent Smart Wallet Making Crypto Transactions Free
2 min read
Argent is a smart wallet that lets you earn interest in a tap. You can lock it, approve big transfers & set a daily withdrawal limit. There’s no seed or gas, in other words, transactions are free.
Moreover, they are backed by some notable VCs like Hummingbird who has been a lead investor on one of Kraken exchange’s funding round. They are also backed by Index Ventures, Creandum, Firsminute Capital, Kryptonite1, and Proxy.
We have recently tried using the app and we have been impressed. We can say that the smart wallet app is pretty straight forward and easy to use.
No more seed key phrases
Users are no longer required to write down the seed key phrases. The team was able to build a secure solution for users not to write their seed key phrases on a piece of paper.
Argent Guardians’ goal is to use the people or devices you already trust. Users are able to give them limited permission to help with specific tasks (such as approving a recovery). Furthermore, these tasks are already predefined in a smart contract. Users of the wallet are always in control and can decide to add or remove a Guardian at any time.
The team built the Argent wallet around Ethereum smart contracts. They have also built the capability to store the private keys of the wallet secretly to the user’s phone. Moreover, the funds (ETH and ERC20 tokens) are safe in a smart contract.
Users can also set the daily withdrawal limit, please note once users have requested to change the withdrawal limit they will need to wait for 24 hours before the request will be executed.
For phone security, users will be will have the capability to add a passcode and use face ID.
Lend or borrow crypto seamlessly
Users of the smart wallet can also borrow or earn using the app. The team has made the user experience seamless, instead of going to a different app or website the team has integrated the smart wallet with Compound Finance for lending your crypto. In just few taps users will be able to earn interest with their crypto.
In addition, users can also borrow using the smart wallet. The team was also able to integrate their app with Maker DAO making it easier for everyone to borrow DAI.
Users are also able to use the ‘Swap’ feature of the smart wallet which enables them to exchange their cryptocurrency for other cryptocurrencies. In addition to that, users can also receive ‘Collectibles’ like Crypto Kitties, or other ERC-721 collectibles.
