A review of Ethos Universal Wallet
Ethos Universal Wallet was first released in the Netherlands on July 2nd. Since then more nations have been added, and yesterday the wallet was released worldwide. Have you given it a try yet? I have!
I have got to say, I was looking very much forward to the release of Ethos Universal Wallet. It is cool when mainnet's are launched, but the Universal Wallet is like a real-life-usage product, making it much cooler than those "who-knows-whats-really-happening" tokens and products. I have been one of those screaming "when wallet" for more than half a year, but the waiting time is now over. What is the universal wallet like? Has it been worth the wait?
My thoughts on Ethos Universal Wallet
It is easy to install the wallet. You simply have to visit Google Play Store, search for Ethos Wallet, and you can install it. If you are an iOS user you will have to wait. The application is finished, but Ethos is still waiting for the approval of Apple before it can be released in the Apple Store.
As you open your wallet for the first time, you have to go through a process quite similar to the one when you use a Ledger Wallet or a Trezor wallet for the first time. You will have to write down your private keys, and you will have to create a username and password, and a digit-code. Once this is done (it should take 5-10 minutes), you are ready to use Ethos Universal Wallet.
The main functions of the wallet
The main function of a wallet is to store your funds, and to make it easy to spend your funds. This is the main function of Ethos Universal Wallet as well. When you create a portfolio, you can decide about creating a Smart Wallet or a WatchFolio.
The opening screen as you open the application - the Portfolio. Here you will get a quick overview of your values.
The SmartWallet
This is the real wallet. Here you can add tokens, get addresses, and thus you can easily send and receive money to the addresses used by this wallet. This works just like you would expect a wallet to use, and it feels so great walking around with a crypto-wallet on my mobile containing all sorts of tokens. It is very easy to use!
The negative is that there are still lots of important cryptocurrencies that isn't supported by the wallet. But, I know that Ethos is working on this, and they are frequently updating their list of supported tokens which you can find here. One of the tokens missing from the list is the Steem token, but, hopefully, it will be added in the future.
But again, the SmartWallet in itself is beautiful and easy to use, so as more and more currencies will be added, this will get better and better day by day.
WatchFolios
The WatchFolios are quite similar to applications like BlockFolio. Here you do not actually transfer funds to and from the wallet, you just register your holdings, and the application helps you keep track of their movements and value. A brilliant function here is that you can create lots of WatchFolios. It is easy to create one WatchFolio for your long-term holdings, one for short-term holdings, one for the holdings you buy for your kids which you plan to give them when they turn 18, and other wallets. If this was the only function of the wallet, it would still be worth downloading. But, this is truly just a side-function, as the SmartWallet function is the most important and main profile of the product.
Many more tokens are supported in the WatchFolio wallet than in the SmartWallet. But, there are still quite a lot of tokens missing from this list as well, making it hard to keep track of smaller tokens that haven't had their big breakthroughs yet.
A detailed look at my WatchFolio
Ethos Universal Wallet is a real delight
The support of several important cryptocurrencies might still be missing from the SmartWallet, but it is way better than everything else at the market. The wallet turns your mobile into a real crypto-wallet, and it is a very nice feeling walking around like that. The fact that you own the private keys to your wallet makes it feel safe (something that is important), and even if you should lose your mobile phone, you can still access your values by using your private keys.
The design of the wallet is very good, making it a treat to the eye. The functions are easy to understand and grasp, something that is helped by the beautiful design.
There are lots of functions that haven't been implemented in the wallet yet but are products of the future. One of the functions I await the most is the possibility to buy tokens inside the wallet, making it a big competitor to for example Coinbase. When such functions are implemented the Ethos token will also reach its expected potential.
I want to say thanks to the Ethos team for making this great wallet, and I will be honest to say, it was worth the wait!
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I will give credit to the Ethos team for releasing it so quickly. When I first read their comments, I thought it would take months for the wallet to be released worldwide, instead it took less than 10 days. Great work!
ethos going to rock and roll soon : )
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Cool stuff :)
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well, I like it :-)