HOME WORK TASK 5 @yohan2on - DeFi..

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Its another week onces again and this time round
I’m writing on ARGENT WALLET, which happens to be a DeFi ecosystem.
I chose it because on several research I made, it happens to be my favorite among the other Decentralized Finance platforms.

Argent wallet is a non-custodial wallet and a decentralized finance platform that is simple and secure to use. Argent works just as the bank. It stores and sends to other wallets with ease, NO STRESS HERE. Only the investor can access his or her wallet, no third parties involved when it comes to smart contracts or investments. Interests can also be earned on stakes[ PoS]. Ethereum staking is available for Stake lovers[PoF].

Decentralized Infrastructure of Argent is based on the ethereum blockchain network.
Argent gives total control to the people because no need for any third party interference. Although Argent works like a bank its without a bank. It decdenctralizesd giving total control to users to access their assets, borrow , invest or trade. Total control over your data , assets, and even identity makes your feel more secure, safe, and protected. There is trust and secure transactions either other dApp users. Argent gives all these advantages on a silver platter.
Great innovation and creativity involved to create such an ecosystem.

Decentralization is easy to use when it comes to Argent Wallet, well for some people it’s difficult because one has to understand some terminologies such as gas fee, seed phrase, private keys etc.
This mostly occurs when using web and apps of decentralized finance ecosystem platforms.
But when it comes to total control, DeFi is what I will recommend for anyone and one source of that is Argent wallet.

Simply the advantages that comes with using Argent Wallet includes

1 total control over assets, investments, data and personal identity

2 no need for seed phrase to protect your wallet , all you need is a trusted contact as recovering in case you should lose your private keys

3 no need for gas fees

4 no paper backing up of seed phrase

5 no more losing of money to typo mistakes

6 interact easily with other DApps

STEPS IN CREATING AN ARGENT WALLET.

1 Visit iOS or play store to download your ARGENT WALLET.

2 After wallet is successfully downloaded, open to create your new wallet by clicking on " CREATE NEW WALLET".

3 Enter USERNAME of your choose( standard of 5 - 30 characters of both upper and lower case)

4 ENTER PHONE NUMBER FOR VERICATION ( Enter verification code sent to your wallet)

5 ENTER EMAIL ADDRESS send visit it to CONFIRM EMAIL.

6 Now you need to choose passcode for personal use.

7 Biometric security can be added if one wishes too( finger prints)

8 Wallet is all set

Wallet activation:

Once you've set up your wallet you'll need to pay for the network fees ("gas") involved in activating it.
You'll pay this fee out of your first deposit in Argent. Your first deposit will therefore have to be bigger than this fee.
Follow the steps below incase you want to deposit fund……
1 OPEN ARGENT APP

2 TAP ON ADD FUNDS

3 THEN CHOOSE BETWEEN BUYING WITH FIAT CURRENCY OR SENDING FROM ANOTHER WALLET

4 Receive crypto from another wallet or exchange

Paying network fees for wallet creation:

Network Fees are paid in order to create your wallet and those fees are deducted from your first deposit. This took effect from February 2021 when ever you download the argent wallet.

The other good news about ARGENT IS instead of only using wallet address for transferring to other ARGENT WALLET, you can use your username.
For example a USERNAME WONDEX can send to WONDERBOWY instead of a using wallet address “1FjWghzr2odKNvNang7gGF8MoFtxk2TYym”

Argent wallet is one of the promising DeFi and not only for the present but the future. I'm glade to be on the right track with ARGENT.

ARGENT 'OWN IT'

THANKS YOU FOR YOUR TIME.