Throughout the years, we’ve witnessed a lot of trends in the crypto space as well as a consistent demand for wallets that could keep up and support them. Crypto wallets, especially the non-custodial ones, undeniably serve as doorways to multiple areas of Web3 such as DeFi, decentralized identities (DIDs), and NFTs.
In our previous post, we discussed the Wirex card and some of its features. This time, we’ll cover another offering from the brand: the Wirex Wallet.
Wirex Wallet is an innovative solution that is built with uniqueness in terms of security, specifically the part that involves the importance and purposes of seed phrases. In recent history, we’ve seen and heard about incidents wherein users lost their assets over multiple reasons, such as human error, exposure to unwanted/unnecessary third parties, and social engineering attacks by bad actors, among others.
These situations could potentially give newcomers and non-enthusiasts a negative impression of their safety and the security of assets in the space. Wirex saw the scene from that perspective and provided us with a future-proof solution: its cutting-edge Wirex Wallet app.
Wirex Wallet is branded as the world’s first-ever non-custodial crypto wallet with no seed phrase vulnerability. Instead of relying upon the safekeeping of the seed phrases, the Wirex Wallet implements a unique secure multi-party computation (SMPC) technology. In this design, sets of secrets are instead embedded between your device and Wirex, eliminating the risks that come with seed phrases because there’s no need to have those in the first place.
In addition to its groundbreaking security design, the Wirex Wallet is also a future-proof product because of its multi-chain support.
Newer blockchains are continuously being launched in the crypto space and the need for seamless interoperability and multi-chain (and cross-chain) communications is inevitable. While there are many different bridges supporting transfers of data and value across different networks, having the functionalities of these bridges in a single app will make Web3 far easier. The Wirex Wallet is currently supporting 8 blockchain networks, including one of the recently launched Layer 2 scaling solutions Arbitrum, and is planning to eventually support more in the future.
With these two combined features, the Wirex Wallet sets its position as a working and reliable product that provides the needs of the present (seed phrase vulnerability issues) and that of the future (a frictionless interoperable ecosystem).
Know more about the Wirex Wallet: https://wirexapp.com/wirex-wallet
Follow Wirex Wallet on Twitter: https://twitter.com/wirex_wallet
