Guarda Wallet should be taken into account if you place a high value on security as well as the freedom to purchase, trade, store, and earn a variety of digital currencies. A noncustodial, open source, multiplatform software wallet is called Guarda Wallet. A detailed analysis of Guarda Wallet’s features and how it stacks up against competing wallets can be found in this review.
Table of Contents
What Is Guarda Wallet?
Guarda Wallet was first launched in 2017, and it’s designed to be an extremely secure, “all-in-one” wallet. A noncustodial, open source wallet called Guarda Wallet places a strong emphasis on security and privacy. On both mobile and desktop platforms, it provides access to more than 400,000 digital assets and 50 blockchains. Guarda is hardware compatible if you want more security even though it is a hot wallet. Additionally, it offers a variety of trading and earning opportunities, such as crypto-backed loans and staking, directly from the wallet.
For both novice and seasoned cryptocurrency investors who value security, a user-friendly interface, and the ability to manage all of their crypto assets in one location, Guarda Wallet is a great software wallet.
Pros & Cons Of Guarda Wallet
Pros
- Can use Ledger hardware wallets with the Guarda Wallet
- Ability to trade between different coins and tokens from within the wallet software
- Ability to buy more cryptocurrency with dollars or euros from within the app
- Store all of your different crypto assets in one wallet
Cons
- Guarda Wallet is a light wallet, which means users are not running full nodes with this software
- The fees associated with purchasing cryptocurrency via the Simplex integration are higher than other available options
- No support for TREZOR or KeepKey hardware wallets
Top Perks
Security
More and more people are demanding the right to their own assets’ security and privacy, which Guarda helps to fulfill. Guarda Wallet is noncustodial, which means you do not have to provide personal information to use it, and your private keys won’t be stored on the company’s server, which reduces the threat of being hacked. Since only you have access to your private keys and can recover them, it is advised that you store a backup file on multiple devices.
Functionality
Guarda Wallet is well-positioned to serve as a one-stop shop for the majority of needs of crypto enthusiasts. In excess of 50 blockchains are supported. Therefore, unless you are a collector of rare or old coins, Guarda Wallet is likely to contain the ones you’re looking for. Once you find them, you can buy, trade, and store your digital currencies, all right there within the wallet.
Staking also gives you the opportunity to profit from interest on your holdings. There are many coins on the platform that have the option to be staked. As a result, there is no need to switch to another trading platform, making it a good choice if you want to have a lot of functionality in one place.
Customer Service
Excellent customer service is provided by Guarda Wallet through short tickets, email, and live chat. Additionally, they are responsive to these services, making it reasonably simple to receive answers to your queries and have problems fixed. Getting started in the crypto world can be intimidating, so having support is a great consolation.
Best Features Of Guarda Wallet
The variety of cryptocurrencies and crypto tokens that are supported by Guarda Wallet is its best feature. Their main objective in developing their crypto wallet is to support as many different crypto assets as they can. This enables their users to consolidate all of their cryptocurrency assets into a single piece of software.
Users can ensure that all of their cryptocurrency assets are stored in an incredibly secure manner, where the private keys linked to their crypto holdings cannot be accessed by a hacker from a distance, thanks to the integration with Ledger devices.
Finally, this wallet serves as a one-stop shop for all of a user’s cryptocurrency-related activities thanks to the ability to buy additional cryptocurrency through the wallet and even trade between various crypto coins.
What Could Be Improved
High Fees
The high in-app cryptocurrency purchase fees are the main criticism of Guarda Wallet that you will hear. The standard fee is 5.5% for crypto purchase, but Transaction fees on Guarda can be changed. So, if you don’t mind waiting longer for a transaction, you can pay less. As an alternative, you can pay a higher fee to expedite your transaction. It also offers the additional-fee option of purchasing coins using your credit card. A fee for mining Bitcoin exists as well; as of the time of writing, it may be as much as $15.
User Interface
The user interface is generally very good. It has a desktop dark-mode option and is uncluttered and simple. It doesn’t present the entire portfolio in a visual motif (like a pinwheel or graph), which is the only thing lacking. Even though that is a relatively minor detail, it does make it difficult to see all of your assets clearly.
How Do I Utilize Guarda Wallet?
Even though Guarda is very user-friendly, you might still have concerns about it. Let me explain how to use the Guarda wallet if that is the case.
How Do I Make An Account?
Guarda wallet can be created in a few easy steps:
Step 1: Go to guarda.com/app.
Step 2: Click on “Create a New Wallet“. After doing that, a secure password creation prompt will appear. Never use your password to access your personal information. Use a password generator if you’re at a loss for words.
Step 3: After entering the password, you should write it down and press “I’ve written it down“.
Step 4: Note: Never lose your backup, as you won’t be able to access your cryptocurrencies if you do. Download it now.
Alternatives To Consider
If you want to store some more exotic coins: You might want to think about Coinomi. In terms of privacy and security features, Coinomi is similar to Guarda Wallet. However, due to its 2014 launch, it is one of the more established wallets and offers one of the broadest ranges of cryptocurrencies. The user interface of Coinomi is clear and simple. It has built-in exchanges, deFi support, cold staking, and NFT support, among other things.
If you want a more direct trade-to-wallet experience: Though you don’t need a Coinbase account to use this wallet, it offers traders with Coinbase accounts a seamless way to buy, trade, and sell their cryptocurrency. Self-custodial wallet Coinbase Wallet supports NFTs directly inside the wallet and also offers self-custody features. Users can store their cryptocurrency assets with confidence on this reputable platform thanks to its industry-leading security.
Guarda Wallet Fees
Guarda Wallet is free to download and use, but once you’re inside, there are some expensive fees. The standard fee is 5.5% for crypto purchase, and it has customizable transaction fees. So, if you don’t mind waiting longer for a transaction, you can pay less. You can also pay a higher fee to complete your transaction more quickly. Additionally, Guarda offers the convenience of purchasing coins using a credit card, which some people find appealing. Additionally, there is a fee for mining bitcoins, which, according to our research, can reach $15.
Is Using Guarda Wallet Secure?
A very safe wallet is Guarda Wallet. To create a wallet or to deposit or withdraw money, you do not need to provide any personal information. It never enquires about your personal information and never stores your private keys on its servers. As a result, no one can deanonymize you, which makes hacking very challenging. Since Guarda is a noncustodial wallet, you are solely responsible for and in charge of your money. Because of this, it’s a good choice for storing and exchanging your crypto assets.
Supported Operating Systems
Guarda Wallet can be used on any device with a web browser because it is accessible via the internet. The wallet is available in a number of versions, though, and can be downloaded for use in either a desktop or mobile computing environment. A Chrome extension that connects your wallet to your browser is also available.
Potential Dealbreakers
Since Guarda Wallet is a fairly well-rounded choice for any cryptocurrency enthusiast, it can be challenging to identify factors that would make it unsuitable for a specific user.
That said, those of you who are primarily interested in Bitcoin rather than a wide range of various altcoins will probably want to look elsewhere. If you only want to store your Bitcoin, the extensive support for altcoins in this wallet may be a hassle. And if you’re only interested in Bitcoin, you might as well run a full node so you can take advantage of additional Bitcoin-specific features like CoinJoin and the Lightning Network.
Hardware wallets are the only other potential issue with Guarda Wallet to consider. Since Guarda Wallet does not support hardware wallets like the TREZOR or KeepKey, you will need to use alternative software if you own one of these devices.
Conclusion
Therefore, Guarda is a multi-platform cryptocurrency wallet that offers web, desktop and mobile wallets. Since you have a choice between software and online wallets, it is advised that you select the latter.
Guarda offers some appealing security features that ought to keep your assets secure, even though it will never be as secure as dependable hardware wallets like Ledger Nano X and Trezor Model T.