Best DeFi Wallets for Decentralized Finance

Crypto.com is a multifunctional cryptocurrency platform founded in 2016, which includes an exchange (spot, futures, margin trading), payment service, NFT marketplace, loans and deposits, issuing plastic cards, DeFi wallet, CRO utility token. It is stated that more than 100,000,000 traders and investors use the platform. Crypto.com features over 140 cryptocurrencies and 250 trading pairs. Access to the exchange is possible both from a browser and through a mobile application for Android or iOS.

Official website: https://crypto.com/exchange/

The editors of Profinvestment.com offer an overview of the Crypto.com Exchange, its functional features, advantages and disadvantages.

Crypto.com Exchange

Best Decentralized Financial (DeFi) Wallets

Decentralized finance is becoming one of the most common use cases for smart contracts and blockchain.
This is a solution to the real problem of “banking without banks”. However, as the ecosystem of the DeFi world grows, it becomes increasingly difficult to find the best DeFi wallet.

The ideal DeFi wallet will allow you to do the following:

• Access to DeFi applications . You can easily access DeFi protocol such as InstaDApp, Compound finance, Makerdao and many more.
• Lend your assets . You can borrow your assets to start earning interest without leaving your wallet.
• Borrow money . You should be able to use your existing assets as collateral and borrow money such as DAI, USDC or any others.
• You must control your private key .
• Access to De-Fi assets : The wallet must support all popular DeFi assets such as DAI, USDC, ETH, BAT and others.

A wallet may have some or all of these features.

As the decentralized finance ecosystem grows, we expect new features and use cases for these DeFi wallets.

So which DeFi wallets should you use? The following article will introduce the best wallets to use in 2019!

Atomic Wallet

All of the above will allow you to make one of the most convenient and reliable wallets - Atomic Wallet.

Atomic Wallet is perhaps one of the most used DeFi wallets for small and fast transactions. This wallet is perfect for storing assets in DeFi.

Atomic Wallet is designed to be simple enough for anyone to use, even if you don't have any technical experience.

Atomic Wallet was founded in 2022 by Konstantin Gladich, its current CEO and co-founder. The wallet is available for different platforms:

• Windows
• Linux
• Mac

You can also use a convenient and secure mobile application under:

• Android
• iOS

The main advantage of this wallet is that your private keys are securely encrypted and stored only on your PC (no one else has access to them), so you have complete control over your funds.

Atomic Wallet allows you to safely store and manage coins such as: BTC, ETH, XLM, XRP, LTC and more than 300 other coins and tokens. Crypto assets and wallet features are updated regularly.

Atomic Wallet also allows users to buy cryptocurrency directly from their wallet, using Rubles, Dollars, Euros (and other currencies).

The wallet also supports staking. That is, you can transfer coins to your wallet and earn interest for the fact that your coins are staked! Coin example:

1. COSMOS
2. Tezos
3. Ontology
4. Tron
5. Komodo
6. Neo

You can find the entire list of staking coins on the official website of the wallet!

Commissions and limits

The basic maker and taker commission is 0.4% of the order amount.

By increasing trading volume in 30 days or holding CRO tokens, the user can reduce commission fees.

At the last, 9th level, the trader pays 0.01% / 0.4% of the amount. To do this, you need to have a trading volume of over 200,000,000 USD per month.

If you keep more than 50,000,000 CRO in your account, the commission can be reduced to zero.

To activate payment of trading commissions with CRO tokens, go to your profile and select the Stake & Earn item, then enable the appropriate option. Commissions will be automatically debited from the wallet if there are enough tokens in the account.

Basic commission on derivatives – 0.05% / 0.07%.

Can be reduced to 0%/0.015% for increased trading volume and to zero with CRO tokens.

Liquidation fee for margin positions is 0.16%.

Forced liquidation can be avoided by repaying the loan in full or in part.

Withdrawal fees are individual for each cryptocurrency. For BTC – 0.0004 . When transferring coins to your main Crypto.com account, no commission is charged.

Deposits are not subject to commission fees.

Trading commissions on the spot market (Staking ≥ 0 CRO):

Spot market commissions

Trading commissions for derivatives trading (Staking ≥ 0 CRO):

Derivatives trading commissions

Ledger Nano Wallet

Ledger Nano comes in two variants: Ledger Nano S and Ledger Nano X.

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This is a hardware wallet that is considered the best way to protect your assets. Ledger wallets can be used as a DeFi wallet through DeFisaver.

You can also use the combination of Ledger Wallet + Metamask to access and use all these DeFi applications. This is one of the best ways to use this combo to create the most secure DeFi wallet possible.

The Ledger wallet can be purchased online from the official website (free shipping) and usually takes only 7 days to arrive!

Many of you may not know that the Ledger wallet supports an entire ecosystem of cryptocurrencies, and has a high standard of wallet security.

Visit the official Ledger website

Reviews

Reviews about Crypto pro posted on Instagram are entirely positive, and therefore arouse suspicion. Most fraudulent projects use this trick to attract naive users.

Reviews about Crypto pro

Real reviews about Alexey Lebedev’s Crypto pro Instagram can be found on independent resources. Users do not mince words and talk about deception.

Reviews of Alexey Lebedev's Instagram Crypto pro

They expose the scam and warn other users against cooperation.

Metamask

Metamask is a browser extension that serves as a bridge to access Ethereum dApps in your browser. It works as a wallet that also supports all ERC20 tokens. You can further secure your wallet by using a hardware wallet like Ledger as your login to access Metamask.

Metamask is perhaps the most used DeFi wallet for small and fast transactions. This wallet is perfect for storing assets in DeFi.

You can interact with Instadapp, Compound finance and others using Metamask.

Visit the official Metamask website!

CRO Token Review

CRO tokens can be used and/or earned by eligible individuals in the following primary ways:

Possibilities of using Crypto com coin

Crypto.com Coin (CRO) is a token launched by Crypto.com Chain. The new revolutionary payment system is simple and convenient for beginners. It is already gaining momentum as a leader in the cryptocurrency payments industry! CRO also supports the entire Crypto.com ecosystem with applications in the payment, merchant and financial services industries.

The product uses QR codes to easily and efficiently send payments to buyers or sellers without any cost. In addition, they offer up to 10% cashback when paying using CRO. This is a great incentive to pay with cryptocurrency.

Crypto.com Chain will work both online through a “Pay with Crypto.com” button appearing at merchant partners' checkouts, and offline as a simple line of code integrated into existing POS systems.

The following video demonstrates Crypto.com Pay's ability to enable instant cryptocurrency payments on existing merchant payment gateways:

This utility is designed as follows:

• Earn up to 20% cashback when you pay for items online from approved Crypto.com Pay merchants.
• Receive up to 10% cashback on in-app gift card purchases paid in CRO tokens to your crypto wallet.

Argent

Argent is a mobile wallet available for IOS and Android. The beauty of this wallet is that it does not require storing a private key. It uses the Guardian concept to protect your wallet.

For those without technical knowledge, this is perhaps the most user-friendly DeFi wallet.

With Argent wallet you can:

• Store ETH and other DeFi assets
• You can access the compound protocol to lend your assets and earn interest.
• You can exchange cryptocurrency between two currencies

This wallet is in high demand and you need to get on the waitlist to request access to this popular DeFi mobile wallet.

Visit the official Argent website

Wallet from CoinBase

CoinBase is one of the best cryptocurrency exchanges that offers a separate DeFi wallet that allows you to access DAPPs and supports many DeFi protocols.

Such as:

• Maker CDP portal
• Compound finance
• NUO Network
• Compound finance
• Uniswap
• Airswap

You can also connect your Coinbase wallet to your CoinBase account and transfer funds to your wallet.

Visit the official Coinbase website to use this wallet!

Send cryptocurrency to friends

In addition to depositing or withdrawing funds, Crypto com offers users the ability to transfer cryptocurrency to friends using the "Pay Your Friends" feature. It allows you to transfer cryptocurrency to your contacts almost instantly and with zero fees .

How to transfer cryptocurrency using the Crypto com app

1. Open the app and select "Pay".
2. Click "Send".
3. Find a friend in your contacts to whom you want to send a transfer.
4. Select the cryptocurrency to send.
5. Enter the amount you want to send (you can add a note if you wish).
6. Click to confirm the transaction.
7. You instantly sent cryptocurrency to your friend without commission !

Note. After you grant permission to access your contacts, Crypto.com will check the phone numbers against its records to determine whether the phone number is registered as a Crypto.com user.

In cases where a contact's phone number does not have a country code, Crypto com will use the country code of your phone number and add it to your contact's phone number.

Get up to $50 bonus! Register on the website using the link or enter a promotional code when registering in the application: jpq5zwwyqb

Coinbase

Next is the Coinbase wallet. It is also one of the best DeFi wallets available. But the app isn't just for your DeFi assets.

You can use the wallet to store all your cryptocurrencies and NFTs in one place. Additionally, it allows you to trade over 500 assets on a DEX and earn interest on your assets. It also does not require you to have a Coinbase account.

The wallet supports 500+ tokens, including BTC, ETH, USDT, UNI, LINK, LTC and others. Plus, you'll be able to buy, sell, and store your NFTs in one gallery.

You'll be able to get started with decentralized exchanges, DeFi protocols, collectibles, and crypto applications.

You can get Coinbase wallet for Chrome browser or download the app on your Android or iOS devices.

Trading on Crypto.com Exchange

You can proceed to trading by selecting the desired section at the top of the screen (spot or derivatives, in the sports menu you can also select margin trading with x10 leverage). Another way to get to the trading terminal is to go to the markets section and find the desired currency pair there, and then click on it.

Spot trading

The exchange supports market orders, limit orders, as well as extended orders - stop limit, stop loss. The order creation area is on the right side of the page. Select the desired order type. Market implies a quick sale/purchase at the price currently set by the market, and limit – at its own price, if a counter offer is found. Fill in the required fields and click Buy/Sell.

Things to consider:

• When creating a limit order, the price at which the last trade was made in a given trading pair is indicated by default.
• Limit orders are suitable for buying at a better price than the market, but they are not always executed quickly. The open order is located in the area below the chart. It can be canceled, it is reasonable to do this if the price has gone in a completely different direction and there is no hope that the order will be executed in the near future.
• Rare trading pairs, usually traded on decentralized exchanges, may have transaction volume limits. In this case, when creating an order, the trader will see a notification that the order size exceeds the limit.

Creating an order on Crypto.com Exchange
Stop loss and take profit orders allow you to set advanced conditions: when the system should create a limit order. Such orders are very helpful in reducing possible losses in the event of a fall in value.

To create such an order, you need to enter the so-called stop price (trigger price). As soon as the market price reaches this level, an order with the necessary parameters will be placed in the order book. The exchange will automatically create a stop loss or take profit based on whether the stop price is higher or lower than the market price.

Creating a Stop Loss Order on Crypto.com Exchange

Derivatives

The Crypto.com Exchange has functionality for trading perpetual contracts (40+ contracts).

They are traded in the “Derivatives” section and allow you to apply leverage up to 100x. Derivatives trading supports limit, market and advanced orders. The minimum order amount must be equivalent to 0.0001 BTC.

To create an order:

• To create a limit order, enter a price - the minimum tick is $0.5.
• For a market order, enter the amount of cryptocurrency.
• Select margin leverage and order expiration date.
• Click Buy/Long to create a long position or reduce a short one.
• Click Sell/Short to create a short position or reduce a long position.

Limit order on crypto exchange
BTCUSD contract specifications:

Bitcoin Contract Specifications on Crypto.com Exchange

Specifications of all supported contracts: https://help.crypto.com/ru/articles/4983603-supported-perpetual-contracts

The maximum possible amount of leverage for a particular futures contract depends on the total actual debt of the exchange (including open orders and positions). The greater the debt, the lower the maximum leverage.

• The minimum initial margin is 1%.
• Maintenance margin – 60% of the initial one (in case of leverage 100x).
• Funding is provided daily, every 8 hours.

Eidoo

Eidoo is a multi-currency crypto wallet that helps you better manage your assets. It offers you access to hundreds of tokens and provides a built-in DeFi exchange. So you can easily buy, store, trade, manage and sell digital assets.

With this single wallet you will be able to store your ERC-20 tokens. Plus, you don't have to manage them in multiple places—all in one place.

READ

Best Wallets for Storing ERC20 Tokens

Additionally, it allows you to store BTC and other tokens on any of your devices. It also allows you to access all your digital assets across multiple devices.

The wallet has a built-in decentralized exchange for the most efficient atomic swaps. The wallet also allows you to easily manage multiple accounts directly from the Eidoo app. So, if you need separate wallet addresses, you can easily get them.

You can also participate in or launch token sales. Plus, it gives you the opportunity to support unique projects.

You can explore the entire DeFi ecosystem and easily manage your entire portfolio.

Eidoo wallet is available for multiple devices such as OSX, Windows and Linux. In addition, you will find apps for Android and iOS.

Platform events

The Crypto com exchange often holds events where you can buy various crypto coins with a 50% discount. You can participate in such events thanks to the “Syndicate” , which is located on the crypto com website in the “Exchange” section.

The Crypto com exchange holds very profitable events

To participate in such events, you need to have a certain number of crypto.com coins in staking. The more crypto com tokens you stake, the more coins you can buy at a discount.

↓Bonus - equivalent to $50 for registering via the link↓

Register with Crypto.com

Conclusion: Which DeFi wallet is best for you?

Without a doubt, a DeFi hardware wallet like Ledger or Trezor is the easiest wallet for anyone who wants to interact with decentralized finance applications. This is because the hardware wallet never displays your seed phrase or private key on the screen.

Whereas any other wallet, including Metamask or the wallet from CoinBase, both display the seed phrase or private key on the screen.

The problem with this approach is that if the hacker already has access to your phone or laptop when you set up the wallet, you are transferring your funds to a riskier environment.

At the same time, the combination of hardware wallet + Meta mask makes a secure DeFi wallet and gives you access to all DeFi applications without any restrictions.

Another interesting wallet is Argent. If your goal is simply to borrow money and earn interest, Argent can do the job perfectly.