‘Universal’ Wallets are not a new thing. From the good old Jaxx wallet to the much-hyped Ethos SmartWallet, the market has many multi-crypto wallets that aim to offer the ease of transacting and storing multiple tokens on the same application.
So what is new about Guarda?
Join us as we find out why the Guarda wallet is steadily pushing to the forefront of the race to become the universal cryptocurrency wallet. Below is our Guarda wallet review.
What Guarda has to Offer
The greatest sell of Guarda is its near universal token coverage.
Not only does it support major currencies like Bitcoin, Ethereum, and Ripple but also the whole gamut of ERC 20 tokens, along with the popular outliers like IOTA, Tron, Stellar, and Monero.
Furthermore, the wallet facilitates streamlined token purchases using your credit card, saving you the hassle of hopping from one crypto exchange to another.
Another great thing about Guarda is that it offers applications for every major platform, be it desktop or mobile. And it does so without getting caught in the usual flame wars; Android sees the same support as iOS, Linux and Macintosh receive similar attention to the Windows version.
And if you are not feeling like downloading a native client at all, there is always the online Web Wallet at your disposal, with all the features enjoyed by the platform-specific implementations.
Whichever platform you decide to depend upon, Guarda never stores your private information like wallet data or private keys on an insecure web server. Such information is always stored in the device’s secure memory and deletes itself when you log out from the wallet.
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But the best feature of Guarda is its integrated crypto exchange service. Through a partnership with Changelly, Guarda allows you to swap your tokens from the app itself, bypassing complex KYC procedures imposed by crypto exchanges. The process is also instantaneous, making shifting your assets in reaction to market conditions easier than ever.
Setting Up Guarda Wallet
- Store multiple cryptos in a single wallet: Monero, Ethereum, Bitcoin Ripple ERC-20 tokens & more.
- Buy crypto with Visa, Mastercard or Bank Transfer.
- Multi-platform support: web, mobile, desktop wallets & chrome extension.
Get One Of The Best Free Multi-Cryptocurrency Wallets Now!
The first step, of course, is to get the client of your choice. A native client is always recommended, due to their superior performance and generally better security. From the security point of view, a desktop version is even better than a mobile one, especially for larger amounts.
Alternatively, if you are feeling impatient, just fire up the web wallet and get going. Incidentally, the Guarda Web Wallet is one of the few web-based multi-currency wallets in the market; most of their peers insist on downloaded clients.
Now, there are two options before you: you can create a brand new wallet from scratch, or in case you already have one, import it into Guarda.
No need to ditch your old wallet just for security concerns because importing does not come with any associated security risks. The private data is stored only on the client side and synced directly with the blockchain without transmitting to any server.
Once you have decided how to go ahead, it’s time to choose a cryptocurrency to create a wallet for. As Guarda supports quite a number of tokens, the list of choices is quite extensive so take your time to sift through its contents.
After selecting a token, you need to decide on a name for the new wallet. The mnemonic seed would be generated for you, along with other crucial details like the Private key.
If you’re importing, the process is reversed. You need to enter the private details of the wallet you are trying to bring back. This can take the form of the Private key, or the mnemonic phrase used to create the wallet.
The next step is standard in creating an account on anything, ie. a strong password. Note that the password is only for the wallet application, not your crypto account itself, so it cannot be recovered like your funds through the mnemonic phrase. Write it down somewhere if you wish to avoid the hassle of importing your wallet again in case you forget it.
And that’s it! Rinse and repeat the above steps for getting wallets for the rest of your currencies as well.
How To Recieve Funds To Your Wallet
Managing multiple currencies from a single app can quickly become tedious. Thankfully, Guarda’s easy to use interface makes the task natural.
On the home screen of your Guarda Wallet, you can see many tabs. Each tab corresponds to a key action of the wallet. Simply hit the Receive tab to get the form to start receiving tokens.
The actual token being shown will differ based on the wallets you have created or imported into Guarda, letting you quickly switch between the cryptos to arrive on the one you need. While minor details will change depending on the token selected, the main interface is the same, helping you get used to the process quickly.
The Receive form is pretty straight forward.
The big pattern at the center of the screen is the QR code to be scanned by the sending device. That’s the best method to ensure that the address is copied over free from errors.
Alternatively, you can also copy and share the wallet address manually, by clicking on the ‘copy’ option underlined beside the QR code. That is all you need to do on your side to receive funds to your Guarda wallet.
How To Send Funds On Guarda
No points for guessing which tab you need to choose this time. Once you have clicked on the Send option, the following form will load.
This time, there are actually fields you need to enter details into. The main things to specify are the amount, the receiver’s address, and the currency to send. As before, the currency field would display all your added wallets for selection, along with your current balance in each for comparison.
The address, of course, is gotten through the usual methods – either by scanning a QR code or pasting the address string manually. Once these three fields are filled in, you are ready to send some tokens, unless you wish to dabble in advanced options.
The advanced options are to do with fine-tuning the details of how the transaction is carried out. For most transactions, you are better of ignoring the advanced options and sticking to the defaults, but on rare occasions, you might feel the need for the extra control.
Depending on the currency in question, the actual options available can differ. In Monero, for example, you can adjust the Ring size for increasing anonymity of transactions. In most currencies though, you only get the option to increase the transaction confirmation speed, by agreeing to a hike in the processing fees.
How to Exchange Tokens On Guarda Wallet
Apart from supporting a large number of different blockchains and cryptocurrencies, Guarda also offers the functionality to easily shift your assets between your different sub-wallets. To do so, click on the Exchange tab on the home screen.
Remarkably similar to the Send form, the exchange screen gives you two major fields to fill. ‘From’ is for the token you wish to liquidate, while the ‘To’ field should hold the token you want to convert it into.
After carefully deciding on the cryptos to participate in the exchange, enter the amount, and click on Confirm to proceed with the transaction. Guarda’s partnership with Changelly means that the transaction would take place near instantaneously, without having to jump through the various hoops of KYC imposed by most exchanges. Enjoy your new tokens!
For any crypto aficionado who keeps their fingers dipped in multiple tokens, Guarda is a solid choice for a light wallet. Its cross-platform support accompanied with stellar security ensures that all your digital assets are safe and secure.
The ability to exchange your tokens from the wallet itself is an absolute godsend, saving you from jumping through the hoops of sending your funds to a crypto exchange, selling it, buying the new currency, and then sending back the purchased funds to your wallet.
All in all, Guarda is a wonderful package wallet, suitable for the serious investor and the beginner alike. We hope you found this review useful.