If you've taken part in crypto investing, you've probably heard of the Bitcoin, Ethereum, or Cardano platforms.
And among all, Cardano (ADA) has emerged as one of the cryptocurrency industry's fastest-growing blockchains.
It distinguishes itself from other competing blockchains by various factors and rapidly advancing technology is one of them.
Cardano intends to build a platform for the development of decentralized applications (DApps).
And Cardano's proof-of-stake consensus protocol, which is designed to reduce energy expenditure during the block production process, is another popular and distinctive feature set apart from the rest of the mainstream blockchains.
Currently, a plethora of beautifully crafted applications is being built on Cardano. Crypto Wallet is one such field.
One wallet which is currently making lots of sounds is CardWallet.
What is CardWallet?
CardWallet is a non-custodial wallet that will provide services like, fiat on-ramps service (convert fiat into crypto) and fiat off-ramps service (convert crypto into fiat).
It is also supporting BTC, ETH, other native tokens, and in CardWallet you will have full ownership of your assets.
But before jumping into CW or CardWalllet, Let’s try to understand what crypto wallets are,
A cryptocurrency wallet is a piece of software that allows you to send and receive your digital assets like tokens and coins, Consider it similar to a traditional wallet in which you keep all of your fiat currencies and perform transactions.
These wallets are extremely secure because they are hack-proof and do not allow access to any unknown wallet if its key is not matched, and to maintain that status, wallets store the private and public keys.
Let’s understand through with an example, let say if you received SiaCoin in your wallet, then to complete the transaction and in order for you to access those coins, your private key must match with your public key.
CardWallet is one such wallet,
In simple words, CardWallet is a simple, secure, and decentralized crypto wallet for cryptocurrencies, like Cardano, bitcoin, and other coins, which allows users to send, store and receive fiat and digital assets.
Not only does it support crypto assets, but it also works with Visa, MasterCard, and Apple Pay.
What problem does CardWallet solve?
CardWallet believes that the barrier of entry into crypto is still very high, UX/UI is not user friendly, DeFi concepts are alien and many people don’t even know how to use Metamask like services.
To solve this gap, CardWallet is trying to construct an extremely simple-to-use wallet and applications with an understandable GUI and simple-to-use features.
And it will not stop there, It will also make concepts like DEXs, staking, yield optimization, and so on extremely simple for the end-users.
Founders of CardWallet
CEO- Tiago Serodio, been in the blockchain since 2012.
worked with DASH
He invented Masernod as a service concept
COO- Victoria Vaughan, been in the industry since 2013,
former CEO of CoinGraph, in fact, she builds it from scratch.
What has it achieved and what are its future plans?
Right now at this moment, CardWallet has a mobile application and will be releasing a chrome extension soon.
In the future, they will also create an NFT marketplace and a full DeFi ecosystem. This ecosystem will include services like staking of Cardano and CardWallet tokens.
They have also built a Decentralized Autonomous Organization (DAO).
And they have also planned to develop a physical card that will allow cash back on purchases using ADA.
Staking in CardWallet
CardWallet also has its own staking program, in which it has also gone to introduced some exciting features of staking.
Zero fee trading
Smart order routing
Governance voting rights
Recent updates of CardWallet
CardWallet has recently introduced an early bird Rebate program starting from 1 November to 22 January, in which those who hold more than 5k tokens will be eligible to get a monthly rebate which will equal the amounts of fees CardWallet charges for transactions.
It has formed significant partnerships with a number of major corporations, including:
Sendwyre- Sendwyre provides a variety of world-class payment APIs to CardWallet for financial applications. These API includes Accounts, Transfers, wallets, payment method, Rates.
MELD- MELD is the first DeFi banking protocol, which provides the services of lending and borrowing for both crypto and fiat currency.
NFT MAKER- it is a one-stop solution for users to mint, sell and buy NFTs. This partnership will help the wallet users to manage, buy and sell their NFTs in CardWallet through NFT MAKER
CHARLIE3- It is the first decentralized oracle network for the Cardano blockchain. CardWallet partnered with Charlie for flexibility and robustness. It reduces transaction fees and reduces carbon impact.
Coti- Coti is basically a full package of finance in the blockchain used in both centralized and decentralized finance.
MatrixSwap- It is a decentralized AMM-based exchange deployed on Polygon, Polkadot, and Cardano.
What do you think about CardWallet?
CardWallet introduced a completely new non-custodial architecture in which you own everything, including private keys, assets, and so on, and its user-friendly interface will ensure seamless interaction with the blockchain. It is also a privacy-based wallet in which all Cardano-based tokens can be stored and exchanged.
So considering all these points, I think it is a very good project with lots and lots of potential in the Cardano ecosystem.
Where you can buy CW tokens?
CW is available in Uniswap, hitBTC, and MEXC.
Should you invest in CardWallet?
The current market cap of CardWallet is around two million dollars as of now and it has a circulating supply of around 16 million CardWallet tokens with a total and maximum supply of one billion tokens.
And right now when I am writing this blog, the price of CW token is around 0.17 dollars.
So, for me, this is the best time to buy it because right now it has a very low market cap and has a great tendency to go up from here. But as always do your own research before investing.