A wide range of features offered by Guarda make it the ideal platform for long-term investors who want to stake their cryptocurrency holdings in order to produce passive income. It supports many digital currencies, including Tether, Ethereum, and Bitcoin. Furthermore, it allows customers exclusive control over their private keys, protecting them from potential hacker attacks and ensuring the protection of your assets.
What Is Guarda Wallet?
Guarda is a custody-free multiplatform cryptocurrency wallet with an intuitive user interface that can be used to store, manage, purchase, exchange, and stake cryptocurrencies. Guarda currently supports thousands of tokens on more than 50 major blockchains. With a bank card or a SEPA transfer, cryptocurrency can be bought directly from the wallet. A built-in exchange service and quick crypto transactions are other options available to users. The wallets can be accessed from any Internet-connected device and are offered in Web, Desktop (Linux, Windows, MacOS), Mobile (iOS, Android), and Chrome Extension versions.
How Does The Guarda Wallet Operate?
You can keep your money and tokens with ease with the cryptocurrency wallet Guarda. The open-source protocol that the wallet employs is available on its website. Since the user always retains possession of their private keys and, as a result, their bitcoin funds, it offers a higher level of security than certain other online sites.
For the Guarda wallet service, users can download desktop wallet, mobile wallet, and web wallet applications. You can interact with the dapps ecosystem by using the service’s wallet Chrome extension. The wallet is also adaptable to popular hardware wallets like the Ledger Nano S.
You can buy, sell, and trade cryptocurrencies right from the service provider’s application or software thanks to Changelly’s integrated crypto exchange service. Guarda offers the convenience of being able to buy, trade, and hold cryptos on one platform, but some users may find the process to be less seamless than they would like. Users have noted minor inconveniences when using this service in comparison to a cryptocurrency exchange.
Pros & Cons Of Guarda Wallet
- Dozens of cryptocurrencies supported
- Integrated cryptocurrency exchange service
- Multi-signature security measures to make accounts safe and secure
- Compatible with hardware wallets, such as Ledger
- Encrypted private keys
- Integrated with hardware wallets like Ledger Nano S
- Free and easy to use
- Does not offer cold wallet storage for holdings
- Backup could be simpler
- Have to pay additional fees if purchasing assets on the platform
- Lack of 2FA security protocols
How To Set Up Your Guarda Wallet
1. Create your wallet: It’s very simple and easy to set up the wallet. It has an easy-to-use interface that makes the process straightforward. Visit the Guarda website and click “Create Web Wallet.” You will then be directed to the following page to create your password for accessing your wallet.
2. Set your password: Make a secure, one-time use password that you don’t use elsewhere. Make sure it’s a strong password, then write it down on paper and store it somewhere secure because you’ll need it to decrypt your private keys and give you access to your wallet.
3. Download a backup: A backup file will then need to be downloaded from your computer. Your private keys will be stored in a text file on this device. You will need this to access your wallet, so be sure to store it somewhere different from your password to ensure that your security is not jeopardized.
Send & Receive Coins On Guarda
Enter your wallet’s login information and click “Send” to send cryptocurrency. The wallet address and the amount you wish to send must now be provided. Press “Next” once you’ve completed that. You’ve successfully sent your coins, and that’s it. The image that will help to more clearly explain the entire process is shown below.
Coins can be received with the same ease as they can be sent. Logging into your account is required first, followed by choosing the cryptocurrency you want to receive and clicking “Receive.” Once that is done, copy the wallet address and send your coins to that address. All that’s left to do is wait for the coins to show up in your wallet.
Is Guarda A Secure Wallet?
Users of the Guarda wallet have access to a non-custodial wallet because it supports multiple cryptocurrencies. Desktop, mobile, web, and a Chrome plugin are all ways to access the Guarda wallet. They established the company in Estonia (Europe). Guarda is an asset wallet that supports a wide variety of currencies (currently over 10,000 tokens and over 40 major blockchains).
After starting with the foundational cryptocurrencies like Bitcoin and Ethereum, the development team managed to control and incorporate even challenging coins like Monero, Verge, and Zcash. The popular BEP2 tokens can also be supported by Guarda, one of the few wallets (Binance chain). Guarda made ZEC Shielded technology a pioneer by incorporating the well-known anonymous transactions in their open-source Android wallet.
The service also gives users a variety of useful tools for managing digital assets: built-in crypto exchange, cryptocurrency purchase for fiat money, and The most notable features of Guarda are likely its token generator. All of this will be covered in the following section.
The vast majority of software cryptocurrency wallets are cost-free. But it’s clear that they must find a way to generate income. Because of this, the majority of them charge a set fee for sending assets or trading one cryptocurrency for another.
You might be asking why we’re talking about Guarda wallet when we’re discussing cryptocurrency exchange. Free wallets must find a method to fund themselves, as I previously mentioned, hence the bulk of them provide cryptocurrency exchange services with paid trading.
Similarly, the Guarda wallet is in a predicament. Although there are no costs associated with downloading, signing up, or using the app, there is a 3.5% charge for using the built-in exchange function.
Comparatively speaking to what other cryptocurrency exchanges have to offer, the 3.5% charge is quite hefty. Because of this, the Guarda wallet has a serious problem. as an innovator.
Guarda is a multi-platform bitcoin wallet that offers online, desktop, and mobile wallets. Since you have the choice of using an online wallet, it is advisable to choose the software wallet.
Even though Guarda won’t ever be as secure as solid hardware wallets like Ledger Nano S and Trezor, it does offer some enticing security features that should keep your valuables secure.