Recently, the smart crypto wallet – O3, was launched for mobile and desktop usage. With the recent growth of the O3 features due to the collaboration with Coinbase earlier last month, the company has now expanded to include a variety of cryptocurrencies. The recently added cryptocurrencies are-
- Bitcoin (BTC)
- Ethereum (ETH)
- Litecoin (LTC)
- EOS, and so on.
A relief from managing several wallets to store cryptos:
From the fiat gateway feature of O3 which allowed the user to buy NEO directly, to introducing so many cryptocurrencies to the crypto wallet, it is a good sign of growth and public acceptance of the wallet. By introducing this kind of variety to the crypto users, O3 has extended a good solution to the common need of the users of having all their cryptos in one place. Before this, the user had to manage several wallets to store their cryptos and crypto-based assets in various places such as – smart contracts, custodial exchanges, hardware wallets, desktop wallets, mobile wallets, and so on.
More than the hassle of maintaining so many crypto wallets, it carried a risk factor of human mistake that could lead to a threat to privacy, funds, and other sensitive information of the user. With O3 introducing such facilities to the user, it makes the crypto management, crypto trading and its investment much simpler and efficient.
The launch of Coinbase Connect:
Taking the user’s ease and comfort in mind, the company has launched a new feature on its application, which is called – Coinbase Connect. With this feature, the user will be able to form a connection between his or her Coinbase account to O3. This will bring the ease of managing and viewing all your crypto transactions, plans in one place.
For the new users who do not have a Coinbase account as of yet, it is a very simple process to open an account with Coinbase. For those users whose countries do not permit buying any crypto through Coinbase, still, the user can avail of these facilities. How? Well, the user is very much allowed to use the wallet features for storing purposes. In these wallets, the user can store Bitcoin and other cryptocurrencies and assets.
Other ways to store cryptos and the risk involved:
Often it is seen that the user stores his or her crypto or crypto-based assets in places such as the decentralized wallets, custodial accounts, and personal accounts because storing cryptos in the custodial account gives the security of insurance from the company where the user chooses to store the crypto. But this comes with a major risk of losing funds forever if the user somehow forgets or misplaces the private keys to his or her crypto wallet.
Therefore by connecting the decentralized wallet to the exchange account becomes a highly efficient choice, as it offers a lot of flexibility to the user for managing his or her cryptocurrencies and the related assets; unlike struggling with the switching between custodial accounts to any other wallet.
Benefits of O3’s latest feature:
It has been well established that this new feature can make the management of the cryptos and other assets much easier for the user. But there are more benefits to this feature. Other benefits of the O3 Swap app include- the user can purchase NEO and many other assets directly via the Coinbase account.
- The freedom of depending on any other crypto exchange for buying NEO is a great advantage of this new feature.
- Further, the user can deposit USD into the Coinbase account for conversion to USDC. Later on, the user can swap it with the O3 app to directly put the NEO to the O3 Crypto Wallet. All this is done at no fee at all.
How the future looks from here:
O3 platform has been proving itself to be an innovative ground that can revolutionize the crypto world. The company is planning to add exchange accounts such as the world’s largest crypto exchange- Binance and to add smart contract accounts such as- Switcheo Exchange contract. All this will further enhance the crypto management experience for the user. O3 seems to be working in full force towards its bigger vision of “a smart wallet built for a smart economy.”