Argent Wallet Review 2021

The Argent wallet is one of the latest trends in the diversified range of cryptocurrency wallets, catering solely to the users who only operate on the Ethereum blockchain. The Argent wallet Review allows the users to only store Ethereum-based tokens and is available for compatible devices based on both Android and iOS. Argent has quickly gained traction due to the variety of features that it offers as an Ethereum wallet. The DeFi wallet enables users to secure crypto assets and store their private keys safely in a wallet that is protected by various layers of security. Users can also earn interest by using the platform’s services and make free transactions to some extent. 

Argent Wallet Summary

Wallet name Argent Wallet
Type of Wallet Mobile Wallet
Coins Accepted All Ethereum Tokens
Native Token No
Linked Exchange No
Supported Hardware Wallet Yes
Supported Countries Most of All
Languages English
Charges It Charges Gas Fees
Mobile App Yes
Cloud Storage No
Cold Storage No
Customer Support Yes via FAQs & Security Center

Quick Overview on Argent Wallet

  • Argent is a relatively new wallet that is based on the blockchain technology of Ethereum. 
  • Argent allows users to set daily transfer limits. This can be regarded as a safety feature as it limits the funds that would be compromised even if the wallet is hacked. 
  • Supporting only Ethereum tokens, Argent poses a small drawback for users who seek an all-in-one cryptocurrency wallet.
  • Argent offers features like high safety measures, compatibility with hard wallets using recovery phrases, and quick transfers for trusted contacts.
  • Although Argent does not support the Bitcoin blockchain, it can be indirectly used to store wrapped Bitcoin (viewers are advised to do extensive research on the same).
  • The Argent wallet also enables individuals to easily recover their accounts. 

What Is Argent?

Argent is a digital wallet that is used to store cryptocurrencies and offers some lucrative benefits for prospective users of the platform. Argent is only available on the Ethereum blockchain and it was launched in 2020. Argent wallet has been able to make a name for itself due to a host of reasons.

One plus side of the wallet is its easy user interface. Argent appeals to a large audience that wishes for a simple and secure wallet, even if it is not compatible with other blockchains. A variety of advanced features has also made this wallet stand out for experienced individuals who are much more familiar with DeFi and can make money on their crypto assets with the help of the Argent wallet. 

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How Does the Argent Wallet Work?

The Argent wallet enables users to store their Ethereum blockchain tokens. Argent is also an open-source project which implies that interested developers can make their own version of the wallet or view its code. The Argent wallet offers numerous features for DeFi (decentralized finance). Worth remembering is that Argent is a non-custodial wallet, and as the users retain the private keys, their assets are always in their control, and only the users have access to their wallets. 

Argent has impressive wallet security, and it also provides biometric access. Users of the platform can also earn interest on their assets with the help of various DeFi protocols such as Aave, Compound, and Yearn, etc. In its beta version, Argent Wallet was able to raise a net amount of $16 Million despite being limited to single blockchain technology. 

Features of Argent Wallet

The wallet was able to capture the attention of a significant share of market users (even though it can be considered a new wallet in the market) with the help of key features that made it a good bargain. For the most part, the platform offers free transactions and mentions the small amount of gas fees, if and when it is applicable. 

The Argent wallet has been able to maintain high transparency for the fee structure of the platform. Transaction fees are not the only incentive that the users have on the wallet. Individuals users can also earn up to 20%* interest on their assets, and that makes Argent wallet as one of the best crypto wallets and users should try it once to know its benefits.

The compatible DeFi protocols in the wallet allow individuals to lend their assets through instant transactions and make them a part of the lending pools for various Ethereum-based pools. Functionalities like remote locking, protection through multi-signatures, and easy recovery make it stand out from most other wallets and overshadow its limitation to Ethereum. Lastly, the smart contract wallet also makes a simple Ethereum address (human-readable address). 

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Argent Wallet Review: Pros and Cons

Pros Cons
Provides multiple layers of security compared to other crypto wallets. There is no platform available for desktop or computer users, only mobile apps for iOS and Android.
It also supports hard wallets and enables easy recovery. The indirect process of storing wrapped Bitcoin can be challenging for new users.
Gives returns in the form of interest on the assets lent by users through DeFi.

How to Set and Activate the Argent Wallet?

To get started with the mobile wallet, individuals can download and install the app on the mobile device they prefer from the respective app store. To become an Argent user, one needs to simply register through the app using their phone number and enter the desired username. 

Argent Wallet Reviews - Download Argent Wallet App & RegisterArgent Wallet Reviews – Download Argent Wallet App & Register

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It is one of the most seamless and novel ways of registering among most other wallets. This username can also be used to send or receive digital assets (users do not need to rely on a complicated hexadecimal address for transfers).

Once signed in, users can buy/sell, short/store, or lend their assets as per their wish. There is also a feature to connect a hardware wallet to one’s digital wallet after becoming an Argent user. 

Argent Wallet Fees

The majority of the transactions on the platform do not come with a fee from the wallet itself, and the website makes the same claim (“Argent does not profit from network fees”). It might be one, if not the only wallet to offer this feature. Similar to other mobile wallets, this Ethereum only wallet does charge a gas fee.

Additionally, users might have to pay fees for their fiat exchanges or crypto-crypto exchanges (0.5% in that case). Dapp fee is also to be kept in mind for those users who plan to connect their wallet to other apps, and it varies for each application. 

Argent Mobile App

The wallet offers smooth and crisp navigation through the apps. The app does not need much computing power to run efficiently and works as one would expect. Lag has not yet been encountered, and the app store reviews add to the credibility and reliability of the mobile apps.

The mobile apps on the respective mobile operating systems are the only way to use the Argent wallet. Users can set up their own accounts, carry out transactions, and invest through the Argent mobile app. User accounts, phone numbers, and email addresses can be conveniently verified via the phone app.

Argent Wallet Reviews - Argent Wallet AppArgent Wallet Reviews – Argent Wallet App

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Argent Wallet Supported Currencies and Countries

The non-custodial wallet allows the users of its platform to store all the cryptocurrencies based on the ERC-20, ERC-721, ERC-1155 tokens of the Ethereum blockchain. These tokens form the backbone of various tokens and other digital assets. The website shows a complete list of the currencies based on these tokens that can be stored in the wallet. 

New tokens of the blockchain are not supported by Argent across the entire list. Only the tokens that play well and are backward compatible (some variations of ERC-777) can be used in Argent. The team has mentioned that any non-supported token sent to this mobile wallet will be lost. 

Argent Wallet Security Features

The list of security features can be considered above the industry standard. Since it is only available for Ethereum, it has a smaller amount of variables to consider from the standpoint of security. The platform offers multi-signatures, remote locking, and security methods involving the users’ biometric information to ensure safety.

The lack of any seed phrase makes for an easy process where users control all their assets without Argent itself controlling any of it.

Argent Wallet Reviews - Argent Wallet Security MeasuresArgent Wallet Reviews – Argent Wallet Security Measures

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The private key architecture is one of the leading safety standards in practice. The Argent guardians increase the security by manifolds. The Argent guard can be used to approve any transaction that is taking place with an untrusted address.

The friends of users or their hardware wallets and other mediums can become Argent guardians. 

Argent Wallet Customer Support

The team has maintained a semi-regular blog/article release to stay active and engaged with their users. Users can either submit their issues through email or traverse through the list of walkthroughs and FAQs that the platform has listed on its website. Their mobile app has been able to gather a high rating on the respective app stores, and the users seem convinced with their choice of a digital wallet.

The platform’s list of articles inspires transparency and offers an easy guide for new users to get started. This can help the individuals learn about the functionality in the process as well. 

Argent Wallet Review : Conclusion

Argent is a wallet with high potential and comes with a unique mix of functionalities that can be used by a wide range of users from different blockchain backgrounds. Argent is an easy recommendation for the users who only deal with Ethereum blockchain or do not mind maintaining a separate wallet for their Ethereum-based assets.

Though there has been no official announcement so far, the possibility of supporting other blockchains can put this wallet on the pedestal that it truly deserves.

Argent Wallet Reviews - Earn 20% Interest with Argent WalletArgent Wallet Reviews – Earn 20% Interest with Argent Wallet

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FAQs

Is Argent a Good Wallet?

Argent offers some unique features for users and is financially more reasonable due to its free-of-cost transactions on the wallet. Argent is limited to ETH, but it can be considered a good and safe digital wallet for individuals who can maintain multiple wallets or migrate to ETH-only trades.

Is Argent Wallet Secure?

The platform pays utmost attention to security and aims to build an impenetrable wallet. Security features, including the ability to lock remotely, multisig controls, etc, add to the safety of the entire platform. The lack of a web-based interface might be a disadvantage, but it also brings a lesser vulnerability to the system.

Past incidents have shown how most platforms are hacked and compromised through their website portals, and a lack thereof can be a blessing in disguise. 

Is Argent Wallet Free?

The wallet does not charge any network fee for the transactions, but the users might be subjected to other fees such as fiat exchanges or crypto-to-crypto exchanges where the platform charges a nominal 0.5%. Other fees that are associated with the integration of decentralized applications must also be considered.

How Do I Use Argent Wallet?

In order to use Argent, individuals are required to download the app on a mobile device and sign into their accounts.

New users can also create their accounts through the app. Once signed in, users can use their accounts to manage their ETH-based assets through a lag-free application. 

Can I Deposit Bitcoin Into Argent?

Argent does not support BTC blockchain and thus, can not store Bitcoin directly. However, there is a way for experienced users to store wrapped Bitcoin wallets. Users can store Bitcoin through the Wrapped Bitcoin (WBTC), an ERC-20-based token equated with a 1:1 value.

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