Authereum Review 2023: Is Authereum Wallet Safe?
What is Authereum Wallet?
Authereum is quite similar to Ethereum, an Ethereum-powered smart contract wallet that allows users to use Ethereum applications from services outside the Blockchain network. Authereum smart contract wallet users can connect to an extensive suite of Ethereum applications on their computers and mobile devices by simply registering with basic details.
In other words, Authereum is a cryptocurrency wallet provider. It is also a dApp login solution provider that uses smart contract-based accounts, Ethereum service, and meta transactions to make dApps accessible to everyone. According to responses from registered members, logging into an Authereum smart contract wallet is similar to logging into any web 2.0 application with simple and easy credentials like username and password. But, remember, Authereum is a Web 3.0 application.
Users can log into any of their favorite dapps without any download required. In this Authreum wallet review, crypto enthusiasts can find all the important information about this new wallet product that would help them easily and quickly trade crypto coins.
It is one of the best platforms as per responses and Authreum wallet reviews from cryptocurrency enthusiasts. It is designed by keeping the needs and flexibility of choices of average traders in mind. It gives clear ideas of crypto trading where members can simply log into the application via their registered credentials.
How Does Authereum Work?
Authereum works as a proven cryptocurrency wallet to log into multiple dApps without the need to download any software or keep a backup for seed phrases. It is simply one of the best Web 3.0 applications available. It is protected by robust blockchain security for protecting users’ data and assets.
It is a 100% non-custodial wallet that is trusted by the top decentralized projects and developers. Users can enjoy full control of their tokens(assets) and other collectibles from any device, computer, or mobile at any time whenever they wish to, either by integrating directly with the wallet or via the web 3.0 library.
Here’s how to connect to a dApp via Authereum:-
Click on the Appropriate Tab
Go to any decentralized application homepage and click on the “Connect to a Wallet” tab.
Select Authereum From the Dropdown List
Select “Authereum” from the dropdown options, and a popup window will appear; users need to click on the “Sign in” tab on the top right-hand corner of the window.
Feed-in the Mandatory Fields
In this step, users need to feed in their username and password and begin their transactions. Members should make sure that the password is strong.
Key Features of Authereum Wallet
Some of the unique features of the wallet include:-
Simple: The wallet is very simple to use, without any downloads or seed phrases required to access it. Users can enjoy the best web 3.0 applications just by registering on the platform.
Safe: It is one of the safest cryptocurrency storage extensions that employ robust security mechanisms to keep its clients’ funds safe and secure. The google authenticator action, along with the hardware keys, adds an extra layer of security to the platform.
Trusted by Top Decentralized Platforms: The wallet is trusted and used by the leading decentralized applications and projects like OpenSea, Gitcoin, Yearn, DeFiSnap, 3Box, and many more, either by direct integration or via using onboard.js or web3Connect. As for the flexibility of the protocols encountered, it is one of the best applications to start with.
Low Transaction Fees: This is one of the outstanding features of the wallet where the transaction fees are paid by the wallet provider itself on behalf of its members, and this has been made possible by the blockchain automated agents or bots called “relayers” to which the Authereum transactions are broadcasted. These relayers or bots pay the fees in Ether on behalf of the members and relieve them from holding Ether prior to making any transactions.
100% Non-custodial Wallet: Authereum is among the few wallet providers that allow members to create a non-custodial account that can only be accessed by them and no one else. This ensures that the funds or money are safe, even if the servers are hacked because no data is stored on the wallet servers.
Available in Both Desktop and Mobile Versions: Members can manage their tokens and other collectibles from any device, whether desktop or mobile. Members can also view their transaction history at any time from any device without downloading the application on that device.
Is Authereum Wallet Trustworthy?
Yes, it is a trustworthy wallet provider and used by leading decentralized applications either by integrating directly with the wallet or via web3 applications, per our Authereum review & research. Some of the decentralized applications that use Authereum are Opensea, Yearn, Totle, ErasureBay, BeToken, and many more. The platform is planning to integrate with Uniswap, Tornado Cash, Colony, and SmartPiggies soon.
Services Offered by Authereum Wallet
The application provides the following services:-
- Easy storage of funds.
- Easy recovery of lost details.
- Private keys are not stored in the application, it is the responsibility of the wallet owners to keep them safe.
- Responsive customer support.
Is Authereum Wallet Free to Use?
Normally with most of the non-custodial software providers, the members of the wallets are required to pay for the ENS address. With Authereum, transacting to an ENS wallet address is absolutely free. Members of the wallets can view their latest transactions on the Authereum dashboard and buy some tokens if they feel so, but this opportunity is available only for US residents.
Authereum Review: Pros and Cons
|Simple to use, no download required.||No Fiat on-ramp is available for people outside the US.|
|No transaction fees.|
|Easy wallet recovery in some simple steps.|
|Compatible with both desktop and mobile.|
Getting Started with Authereum Wallet
Crypto enthusiasts can log into the app by following some simple steps; it is as simple as creating an account and logging into a social media platform like Facebook.
Fill Out the Sign-up Form
Members just need to navigate to the wallet’s official website and fill in a Sign-up form with some mandatory fields like email, username, and password to log into the app. Even though it may seem a bit unusual to set a password to log into a non-custodial best crypto wallet like Authereum that does not give access to anyone other than the wallet owner, it is mandatory to log in to the Authereum account.
The passwords serve as encrypted private keys that are created as soon as a members log into the Authereum account, and the password will be required every time he signs in to his account.
Crypto enthusiasts using the wallet should be aware that keeping the private keys safe is entirely their responsibility as the wallet does not keep any details like the username and password in their databases.
The sign-up for the new users is on hold for new users due to high Ethereum gas prices. The platform is looking for an alternative to offer its users.
API Keys Providing Extra Safety
Members should also have the knowledge that, unlike normal passwords, the password at Authereum cannot be reset because being a non-custodial account, the Authereum server does not store any password or private key of the crypto wallet.
However, there are other ways in which a user can recover his password if accidentally he loses access to them, like the smart contract wizardry, QR code, seed-phase backup, google authenticator, and other second factor apps having admin rights to a user’s account on the wallet.
After filling out the mandatory fields, members need to agree to all the terms and conditions laid out on the website and click on the “Sign Up” button.
Every user who registers on Authereum is assigned a specific ENS address that allows them to receive funds (tokens) from other members using any Ethereum wallet without them having to type the long wallet addresses.
An activation link would then be sent by the backend team to the registered email address of the user. The user needs to open his email account and click on the link from there to activate his account. In this step, members can also set up a recovery setting in case he loses access to their account.
Though this is not a mandatory step, it is highly recommended that members set up a recovery account setting because Authereum does not store any log-in details of members in its servers, and there is no scope of keeping any backup.
Deposit Funds and Start Using the Wallet
After depositing the required funds (in cryptocurrencies) into the account, members can start interacting with dapps and making transactions.
Pricing and Fees of the Wallet
The transaction fees on the Authereum network are paid by the blockchain automated bots as gas fees on behalf of the members, which is the most attractive feature of the wallet. Members are also not required to hold any Ether coins prior to any transactions made via the wallet.
Authereum Supported Coins
Authereum works the best for assets that are built on the Ethereum network. It is also a guaranteed wallet for NFTs (non-fungible tokens). The first asset that a user can find as soon as they sign-up on Authereum is DAI which can be used for paying the fees (transaction fees, miner fees, or gas) in Ether. Therefore, members are not required to hold any Ether when they transact via the wallet.
Authereum Wallet Mobile App
The wallet has a compatible mobile application that lets members transact (send or receive) funds from anywhere at any time by just swiping on their mobile screen. There is no separate software that needs to be installed for accessing the wallet. Members can directly integrate wallets into their mobile devices.
Comparison of Authereum with Other Wallets
Other non-custodial wallets similar to Authereum are:-
ZenGo: It is a leading keyless non-custodial app supporting multiple crypto assets like Ethereum, Tezos, Bitcoin, etc. Like other keyless wallets, there is no risk of losing the private key or password. Credit Card and Apple are the two payment options supported on the platform.
Nuri: This wallet integrates both Ethereum and Bitcoin. It also allows members to buy or sell the assets (Bitcoin and Ether) seamlessly with the app. Members can fund this wallet only via bank transfers.
Bread: It is a well-designed app that allows members of the wallets to hold, purchase or convert crypto assets, namely Bitcoin Cash, Bitcoin, Ether, and many more. Both bank transfers and credit cards are accepted on this app.
Abra: It is a single wallet app catering to the crypto needs of hundreds of users in over 150 countries all over the world. Users can generate brokerage account extensions to invest in ETFs (exchange-traded funds), traditional stocks, and cryptocurrencies like Bitcoin, Litecoin, Ether, Bitcoin Cash, and many more via this single Abra app. Both credit cards and bank transfers are accepted on this app at the time of entry to the application.
Edge: Edge is yet another popular non-custodial cryptocurrency wallet app that lets users hold and trade (buy and sell) an extensive list of cryptocurrencies like Bitcoin, Litecoin, Ethereum, Bitcoin Cash, Tezos, Stellar, Ripple, Monero, Ether, EOS, Binance, etc. to name a few. Bank transfers and credit cards are accepted to make integrated transactions via this Edge app at the time of entry.
Is Authereum Got Hacked Before?
There are no reviews from customers that say that the wallet was compromised at any time in the past. Not having enough information is a big problem that wallet customers face.
Authereum is 100% non-custodial which means that only the wallet owners can control the funds in the wallet. The non-custodial wallet assures that the funds are safe even if the servers get compromised.
Authereum is developed by blockchain security experts, and that adds to the safety and credibility of the application to a manifold. The wallet also employs multi-factor authentication with Google Authenticator and other hardware keys to add an extra layer of security to the user accounts.
The wallet can be recovered easily if the user loses access to his account accidentally. Giving the correct answers to a few security questions will help him recover his credentials conveniently.
Authereum Wallet Customer Support
The customer support executives of Authereum can be contacted directly via any internet browser extension or via email. Users have the option of clicking on the “contact us” tab and a window will open asking the customers to connect to the customer support team via email. Another option available to connect to the support team is by selecting the “submit the request” option in the support tab. A new tab appears asking the user to fill out the form.
To stay connected with the latest news and updates related to the Authereum network, people can follow the social media platforms like Twitter and Telegram. Authereum also releases their upcoming developments in their official blogs on Medium that the people can go through for gaining a deep insight into the platform’s plans.
Then, there is a separate FAQ section that can be explored by users for any ready solutions given by the team working at the back end. People can also join the Authereum Community for any problem encountered, and there are hundreds of Authereum users who can share their views and experiences with each other.
Authereum Review: Conclusion
Accessing dApps needs sophisticated devices, but with the launch of the wallet, the less tech-savvy users are also showing keen interest in dApps. This is because Authereum makes it easier for anyone and everyone to access their favorite dApps via any browser extension without the need to download them, thus saving a lot of time and effort for the users and crypto enthusiasts.
Therefore, after going through this Authereum review, and user experience, it can be concluded that Authereum is a great application to start with.
Can I Use the Authereum for Bulk Payments?
Yes, Authereum can be used for bulk payments.
What Type of Wallet Is the Authereum?
Authereum is a non-custodial app which means there are no middlemen involved in the transactions. It allows users to directly interact with the blockchain network for holding, sending, or receiving crypto assets.
Is Authereum a Good Crypto Wallet?
Yes, according to this Authereum review, it appears to be a good crypto wallet, especially for non-tech-savvy users and beginners.
Is Authereum Anonymous?
Yes, as Authereum is a non-custodial crypto wallet, it does not keep any information on its server, and so in that way, it can be considered as an anonymous wallet.
Is Authereum Easy to Use?
Yes, Authereum is very easy to use. There is no need to download or install any application on the devices that a user is using to access the wallet. There is also no need to keep a backup of the QR code or seed phrases because the wallet server does store any information as to the funds or other data of the users.