Fortmatic Wallet Review 2022: Is Fortmatic Wallet Secure?

Fortmatic wallet allows users to use your Ethereum app from everywhere instead of letting crypto wallet access your UX. There will be no more browsing site add-ons or seed phrases. Leading blockchain firms have integrated Fortmatic all around the world.

The users interact with applications on the extensions web 65 percent of the time, not only on the desktop. If your program appears to work with web3 and MetaMask, there’s no need to modify anything. Fortmatic is a superior option to MetaMask. With a non-custodial HSM design, Fortmatic is SOC 2 Type 1 compliance as per our Fortmatic wallet review.

Fortmatic Wallet Summary

Official Website https://fortmatic.com/
Wallet name Fortmatic
Type of Wallet Ethereum DeFi Wallet
Coins Accepted Supports all Ethereum-based Tokens
Native Token No
Linked Exchange No
Supported Hardware Wallet No
Supported Countries Most of All
Languages English
Charges Unlimited Signups are Free
Mobile App Yes
Cloud Storage Yes
Cold Storage No
Customer Support Help Center & Social Network Support

Sign Up Now

With a familiar Web 2.0 experience, you can reduce user onboarding stages by 70%. It is customizable, integrated, and does not require users to leave your app. OTP code, recovery email, device 2FA, and other information are available to users, even on the desktop. Fortmatic is the result of the best working together. With a proven track record of creating goods that users adore.

If you want to get started quickly, use an out-of-the-box UI. Regardless of whether you currently have a dApp linked with web3, use an alternative to web3, or are starting fresh, the Fortmatic SDK makes it simple to incorporate your app with the help of the Ethereum blockchain.

According to the Fortmatic wallet reviews, people are quite happy with the service and software quality this platform provides. You can read a few lines about their services by visiting the official website.

What Is Fortmatic Wallet?

Fortmatic (Magic) is a versatile crypto wallet that allows users to obtain tokens and use decentralized apps from their Ethereum address. It employs a mobile number or an email id for authentication instead of browser extension or seed words. Sean Li founded the company in 2018.

Finally, in 2020, Sean Li declared that the company’s name would be changed to Magic. It’s also a forum for developers to incorporate and integrate blockchain-based technology into their apps, along with being an easy-to-use alternative to store ethereum.

Fortmatic Wallet Review User Interface

Sign Up Now

Entering the field of preexisting technologies, blockchain technology, and blockchain apps, Sean Li made sure to follow the correct guidelines, changing the app into a well-protected, compatible application while providing accessibility, better integration for mobile device and other tools within that function as a safety barrier for digital assets against hackers. The quality and integration can not compare to other tools that store ethereum available in the market.

As per the Fortmatic wallet review, Fortmatic is a simple web3 wallet that works similarly to Metamask. It enables users to log in to Ethereum-based services using just their mobile number or email address without feeling the necessity for a browser plugin. Since then, Formatic has changed its name to Magic.

When utilizing other authentication methods, it appears to take new customers at least 22 steps to make their initial transaction, as per Fortmatic. Their objective is to decrease the number of stages in the onboarding process as much as possible, resulting in a straightforward registration procedure for individuals new to web3 or even those who use alternatives to web3.

The SDK from Fortmatic makes it simple to integrate into existing apps by simply cutting and pasting only a few bits of code. Fortmatic, for instance, was used to load data into every crypto wallet at ETHDenver to pay for meals!

How Does Fortmatic Wallet Work?

Fortmatic, founded by Sean Li, is a compatible application compared to other digital wallets or ethereum based applications. Simply launch Fortmatic-enabled decentralized applications to get started with Fortmatic.

For instance, we’ll utilize the decentralized exchange Airswap for this demonstration, which can be found on their mobile web.

  • Click on the ” Connect Wallet ” to get started.
  • All of the suitable crypto wallet alternatives will be shown. Select Fortmatic from the menu.
  • The user’s crypto wallet will be arranged from here. To continue, click the “Continue” button.
  • Type in your email address or select “Use Phone Instead” to include a phone number instead.
  • An email or text message with a verification code will be sent to the email id, or number supplied. Put the code in this box.
  • To complete the process, choose a password to protect the new account.

That concludes our discussion. Users will be interacting with Ethereum based applications by simply providing details like email id or mobile number as well as password — no further apps or browser extension will be required by the user!

Fortmatic Wallet Benefits

Sign Up Now

Features of Fortmatic Wallet

Further below, we have listed the essential features and qualities that attract users from all over the world to use this ethereum based crypto wallet:-

Accessibility

For non-technical users, Fortmatic makes programs simple to utilize. Most popular dApp interaction tools, such as Metamask, now need a particular web browser or a browser plugin, significantly limiting accessibility.

Fortmatic authenticates users by tying a contact number to their account, eliminating the need for third-party applications or browser plugins, enabling programs to be accessed using nearly any web browser on any mobile device, including smartphones.

According to the wallet user reviews, device accounts for over 65 percent of their engagements.

Features of Fortmatic Wallet

Sign Up Now

Developer-Friendly

According to the Fortmatic wallet review, it is incredibly easy to integrate from the standpoint of the developer. Fortmatic may be integrated into any current web3 application by simply pasting a few bits of code.

You can read a few lines about developer-friendly by the official website of Fortmatic.

Security

Fortmatic employs cryptographic anchors from the hardware security module (HSM), a security technique employed by many of the industry’s leading custodial systems.

Hackers will have to crack encoded keys within the organization’s infrastructure, which means their progress will be recognized and thwarted. Thus, decreasing the risk of loss.

Hackers in those other systems can obtain the keys and attempt to break them on their own devices without being monitored.

Partnerships

Several notable projects employ Fortmatic, including Airswap, OpenSea, Bancor, Set Protocol, Radar Relay, as well as Zerion, to mention a few.

With much more easy integration on the way, Formatic looks to be on its way to becoming a widely-accepted tool for engaging with popular DeFi apps.

Fortmatic Wallet Partnerships

Sign Up Now

Is Fortmatic Wallet Trustworthy?

Fortmatic is the best wallet for crypto and among the safest systems owing to its Delegated Key Management design, which is non-custodial (admins never view users’ private keys).

Amazon Web Services (AWS), Key Management Service (KMS), and Cognito are in charge of encryption and decryption. Another benefit for consumers is that they may interface directly with AWS’ KMS on the client’s part.

At Fortmatic, they solely use TLS for all service communication (Transport Layer Security). As a result, user information is encoded end-to-end between Fortmatic servers and the user’s browser. It will aid in the avoidance of man-in-the-middle attacks.

Services Offered by Fortmatic Wallet

  • Fortmatic makes it easy to use for non-technical users.
  • Fortmatic has integrated third-party providers, such as Moonpay and Wyre, which lets the user purchase Ethereum with a debit or credit card.
  • Fortmatic authenticates users by linking a phone number or email address, removing the need for a specific app or extension, unlike other platforms.
  • This allows applications to be accessed via almost any web browser on any device. According to Fortmatic, over 65% of their interactions come via mobile devices.

Is Fortmatic Wallet Free to Use?

Yes, Fortmatic is a no-cost wallet service for all users. They have a trial and free version available with selective features for all users who wish to use it without spending money.

Blockchain Companies that Integrated with Fortmatic

Sign Up Now

Fortmatic Wallet Review: Pros and Cons

Pros Cons
It’s a lot easier to use than Auth0. There is no Fortmatic support for social login compared to other platforms.
Mail id (or contact number) and userId (the Amazon Incognito UUID) are provided, as well as the Ethereum wallet. There was no public key returned.
The pop-ups are extremely similar to Metamask, so current Metamask users should be comfortable with them, and new users will find it relatively intuitive. Metamask. I’m not sure how to sign raw transactions using a private key that’s only on the user’s browser. There are just a handful of supported techniques, outside of which we might not be sure what to do.
Fortmatic gives you web3 users access, which is a much newer version of Metamask and makes it simple to complete various activities. It may become costly in the future out of all the platforms that are available.
The free plan should suffice to get things up and running.
Thanks to modern technology, no more third-party extensions, browser extensions, or unnecessary steps while entering the platforms. Only useful tokens.
It is frequently changing, providing better service to users. It also encourages interactions between developers and users to integrate better upgrades.
Out of all the other platforms, the developers at Fortmatic follow wallet reviews when they integrate improvements to the features as users interact to convey the feedback.

Getting Started with Fortmatic Wallet

To get started with wallet, developers must first register a “Developer Account” linked to their Github account. Afterward, they need to sign up and complete the steps below:-

  • Initially, you have to go to the website’s landing page, simply click on the “get started” button, or pick “Developer” under the upper left corner.
  • Simply click “sign up with Github,” fill up your information, then input the verification code to confirm your identity.
  • You can access your dashboard after you create a developer account. The Fortmatic SDK then must be integrated into your project. To effectively integrate it, follow the processes.
  • Script for the Fortmatic SDK should be included. In the CodePen editor, add a script tag between the “TODO” comment lines to download Fortmatic SDK to your dApp.

Getting Started with Fortmatic Wallet

Sign Up Now

Pricing and Fees of Fortmatic Wallet

The monthly cost of Fortmatic starts at $79.00. There is an option for a free trial that is available from Fortmatic. Aside from that, all Ethereum blockchain transactions should include a gas fee. The gas charge is a payment made to the network’s miners who authenticate your transaction.

Because miners are economically successful, the more you play, the faster your transaction will be considered in a block. The gas price is comparable to the cost of a gallon of gasoline. The stronger the demand for space in the following block, the higher will be the gas price. You read more about it by visiting the official website.

There are several websites where you can check current gas prices. While a transaction submitted without a gas charge is still legitimate, it may never be verified since the miner has no motivation (fee) to include it. The fees you send with your payment go entirely to the network miners who confirm your transaction. For any and all users, Fortmatic is still a no-cost wallet service.

Further, Fortmatic pricing is divided into four parts.

Free

The following features are available without cost:-

  • There are no limits on how many people may sign up via your app, and there are 250 active members in your app.
  • Every day, some 100,000 requests can be made.
  • Support from a variety of sources, including the community.
  • Ethereum Virtual Machine compatibility.
  • Utilizing web3.js and ethers.js.

Developer

Users will be able to access all of the capabilities, including the following advantages:-

  • Upto 1000 active users on your app and about 500,000 requests every day.
  • Costs $79 per month.
  • You can integrate widgets that are exclusive to your theme.
  • Lastly, a private support channel for groups.
  • A 14-day trial is also available to users.

Growth

Users may obtain all developer as well as features of the free plan for $327 per month, including:-

  • With 2,500 active users on your app and 1,500,000 daily requests.
  • Multi-blockchain applications support.
  • One-to-one help channel, along with 24-hour availability.

Enterprise

Users can contact support for further information about the variable tariffs. Fortmatic, on the other hand, claims that they offer:-

  • The Growth plan’s whole set of features.
  • Custom integrations.
  • Over 1,500,000 daily requests, VIP support, and more are all available.

Pricing and Fees of Fortmatic Wallet

Sign Up Now

Fortmatic Wallet Supported Coins

Fortmatic supports all Ethereum based tokens, including ERC20 tokens and NFTs (ERC720, ERC1155). Fortmatic does support Binance Smart Chain as well, but developers need to configure connecting to that network on their app.

Fortmatic Wallet Mobile App

Yes, the Fortmatic Wallet app lets you use the app with the ERC-20 blockchain. Fortmatic provides a smooth and delightful experience for app users.

Comparison of Fortmatic Wallet with Other Wallets

Below is a comparison of Fortmatic with other crypto platforms:-

Coinbase MetaMask Fortmatic
Platforms Supported Windows, Mac, Android, iPad & iPhone. Saas, iPhone, iPad & Android. Saas
Audience Traders in need to store all kinds of digital assets with a crypto wallet. Crypto wallet & gateway to blockchain apps for anyone. Anyone looking for an easy-to-use alternative to web3 wallet to connect to Ethereum-based applications.
Support Type Online Online 24/7 Live Support, Online
Pricing Free Version Free Version Free Version & trial

Has Fortmatic Wallet Gotten Hacked Before?

Tragically, there have been a few isolated complaints of account takeover by hostile actors who used stolen credentials to get into victims’ Fortmatic accounts. Still, there are no vulnerabilities in Fortmatic’s infrastructure, and the integrity of our authorized key management remains good, following a series of exhaustive investigations.

It is evident that a reminder of security best practices may be required. The platform is also introducing modifications that will encourage end-users to utilize Fortmatic more securely. This post outlines several best practice recommendations as well as a change we’ll be imposing.

First and foremost, we recommend that you never repeat your passwords across services and that you utilize several methods for each account. The simplest way to prevent a hacker from exploiting your password is to avoid using the same password for several services. You may further improve your security by utilizing the second mode of authentication (for instance, a 2FA app), which assures that anyone who has access to your password can’t access your account unless you have extra information.

Second, on utilizing various authentication methods, Fortmatic is stating that going ahead, all end-users of Fortmatic will be required to use; at least, email 2FA for every user login authentication. Based on our talks with end-users and developers, we believe this may influence the overall user experience of Fortmatic.

The major objective of the platform is to provide safe software that can be used by individuals of all technical skills, which can be relied on to keep and self-custody their cash privately. We believe that the risk to most users from not having obligatory 2FA surpasses the difficulty of not being capable of disabling basic 2FA for power users and developers, given the rising frequency of recent assaults.

Fortmatic Wallet Security

Several of the top acclaimed custodial solutions of the industry includes hardware security module (HSM) cryptographic anchors, which the wallet utilizes. People will have to try and crack cryptographic keys within the organization’s infrastructure, which means their progress will be recognized and thwarted, thus decreasing the risk of loss.

Users in many other systems can install private keys and further attempt to break them on their hardware without being monitored. Fortmatic employs cryptographic anchors from the hardware security module (HSM), a security technique employed by many of the industry’s leading custodial systems.

Hackers will have to crack encoded keys within the organization’s infrastructure, which means their progress will be recognized and thwarted, thus decreasing the risk of loss. Hackers in other systems can acquire private keys and further attempt to break them on their hardware without being monitored.

Fortmatic Wallet Customer Support

Customer help is available in a different part of Fortmatic, where answers are acquired according to questions and details. The Fortmatic support site also has a FAQ section divided into specific sections, such as transactions, fees, etc. Developers can also answer their questions in the “FAQ” section.

There is also a “request” area to submit your inquiry tokens along with your email address. It usually takes approximately 24 hours to get a reply. According to the Fortmatic wallet review, response time from analysts on reported cases is excellent, and usually, a confirmed case is released soon after into the Threat Reputation Database (TRDB).

Fortmatic Wallet Customer Support

Sign Up Now

Fortmatic Wallet Review: Conclusion

In a nutshell, Fortmatic can be considered as a secure soft wallet that enables its users to log in to Ethereum-based services using either their email address or their phone number. Numerous significant projects have used it, including Bancor, Radar Relay, OpenSea, Airswap, and others, because of its simple incorporation of blockchain technology.

Each wallet type offers distinct protection and flexibility for ethereum based applications development and end-user experience. Choosing a wallet type for an app is determined by the app’s use case. Because each wallet directly influences the end-user, we must consider other perspectives while choosing a crypto wallet solution.

FAQs

Can I Use the Fortmatic Wallet for Bulk Payments?

Yes, you can use a wallet for bulk payments.

What Type of Wallet Is the Fortmatic Wallet?

Fortmatic is a User-Friendly Ethereum DeFi Wallet. It is an alternative to a web3 wallet like Metamask. It allows users to use a phone number or email address to connect to Ethereum-based applications, all without the need for a browser extension.

Is Fortmatic Wallet a Good Crypto Wallet?

Yes, it is a good crypto wallet. It lets the customer have full control over their digital assets.

Is Fortmatic Wallet Anonymous?

Fortmatic uses hardware security module (HSM) cryptographic anchors, a security mechanism used by many of the industry’s top custodial solutions. With this, any attempt to crack encrypted keys within the organization’s infrastructure will be tough; meaning their progress can be detected and obstructed, significantly reducing the potential for losses. It is possible to crack them freely on their own hardware – without any monitoring in other systems.

Is Fortmatic Wallet Easy to Use?

Yes. To make it a more compatible and versatile crypto wallet, the developers made it into an easy-to-use alternative. According to the user reviews, out of all the types of crypto wallets, blockchain platforms, blockchain technology, blockchain applications, and several other ethereum based applications, Fortmatic is one of the easiest blockchain apps that is protected, safe and customizable.

According to Fortmatic, it takes a minimum of 22 steps to submit the first transaction when using alternative confirmation methods. It’s their goal to reduce onboarding by as many steps as possible during the registration process – especially those new to web3.

Is Fortmatic Custodial?

No, it is a non-custodial HSM architecture that acts as a better alternative for users looking for safe blockchain platforms amongst other companies in the field.

Back to top button