According to TechCrunch, more than $10-million worth of cryptocurrencies is lost every day due to cyber theft, hacking, phishing, scams, and plenty of other nasty tricks to exploit your precious tokens. To think that between October 2020 and March 2021, over 7,000 people lost more than $80-million in crypto collectively, a 1,000% increase from a year ago, is quite disheartening. But worry not, as a good wallet – as we'll look more into in our Guarda wallet review – can help deter this.
And if you're going to choose a wallet that you can trust your cryptos with, then why not pick from the greats to start off with. Wallets from a while ago could only really store tokens, and not much else. But with today's selection, you can practically do everything from buying cryptos to staking them. Guarda is perhaps by far the most feature-packed of those wallets, with many a thing that you can do with it. So, read on our Guarda wallet review to know if it's really any good.
What Is Guarda Wallet?
Guarda is a cryptocurrency wallet, and one that's been rated quite highly. Initially made just as an Ethereum wallet back in 2017, Guarda has since expanded quite rapidly to encompass more than 10,000 unique cryptocurrencies that are built on over 50 major blockchains. You can find Guarda's wallet as a web browser extension for Chrome; as a mobile application for Android and iOS, as well as a fully-fledged desktop app for Windows, macOS, and Ubuntu.
Many reviews of the Guarda wallet seem to be very satisfactory, with 4.4/5 stars from Trustpilot, 4.2 and 4.6 stars as reviewed on Apple's iOS App Store and the Google Play Store, respectively. This attention has been able to attract partnerships and endorsements for Guarda from large platforms and companies within the cryptocurrency space, such as the Tron blockchain, the Binance crypto exchange, ZCash and its privacy-focused crypto-token, as well as the innovative Digibyte network.
What Are The Services That Guarda Offers?
The main USP of Guarda wallet is in the sheer variety of services that users can access without even having to leave its main wallet interface, regardless of whichever device they're using Guarda from. Some of these – such as being able to buy cryptocurrencies or stake them – are quite common on many other wallet services. Others, meanwhile, are never before seen or featured on any rivaling wallet. This naturally makes Guarda among the most featureful wallets we've seen in a long time.
And remember, the wallet aspect is but barely the main feature here. Though for the purposes of our Guarda review, it's quite easy and simple to use. The UI isn't as vibrant as some of its rivals, but it's sensibly laid out and you'll be able to navigate this easily. Moreover, Guarda gets a big bonus over competing wallets as it can support a huge array of different assets, from your basic cryptos to DeFi tokens and stablecoins. Few wallets can boast compatibility with 10,000+ tokens.
But besides its ability to tap into over 50 major blockchain networks – another big upside to using Guarda – here are some of the other services that they offer, for our Guarda wallet review…
1. Buy Cryptocurrencies
Guarda lets you buy cryptos without needing to go through an exchange, powered by Simplex. With Mastercard or VISA, both debit and credit, or through a SEPA bank transfer within the European Union, you can buy any one of the 10,000+ tokens, through a choice of over 45 fiat currencies. But do bear in mind the processing fees. The average purchasing time is quite rapid at between 10 to 30 minutes, and you're certainly not handicapped seeing how practically any token can be bought here.
2. Exchange Tokens
Once again, exchanging tokens is another de rigueur functionality natively embedded with many crypto wallets. Guarda is no exception, with crypto exchanging offered as a service with unlimited trading limits and no need for verification. On top of that, Guarda will shop around proper crypto exchanges to find and bring you the best exchange rates, with a fully transparent fee breakdown. Plus, you can swap from all those thousands of different tokens; quite a handy feature.
3. Take Out a Loan
Something that many wallets can't so easily provide as a service is crypto-backed loans. But Guarda does indeed have loan products, with no need for credit checks or KYC verification, and all your loans are insured. All of the loans are crypto-backed, meaning you'll need some tokens left for collateral. Once that's done, you can have your loan approved in 5 or 10 minutes, and you'll be charged a fairly low annual interest of less than 10%, though this depends on the crypto that you're borrowing.
4. Create Your Own Crypto
Another feature that the Guarda wallet impressively brings to the table is a dedicated token generator, where regular users can essentially create their own Ethereum-based ERC-20 token. Powered by a combination of smart contracts, 24/7 support, an in-house audit service, with a powerful and easy-to-use tool, you too can make your own cryptocurrency. You could give it a name, set its tokenomics such as the issuance schedule and supply, and then have that listed on Uniswap for others to buy.
5. Blockchain Domains
If that's not cool enough, then the Guarda wallet also doubles as a domain marketplace. Here, you can find and buy so-called Human-Readable Addresses for your brand spanking new website, thanks to a partnership with Unstoppable Domains, FIO Protocol, and ENS (Ethereum Naming Service). You could thus use your Guarda wallet to buy an HRA, and then bind it with your webpage or elsewhere.
6. Staking to Earn Rewards
Back to more ordinary services, staking is one that you can do on Guarda, as with many competing wallets. Staking can net you very healthy passive annual rewards, more so than any interest-bearing or savings account could net you. On Guarda, your options are multiplied by a dozen tokens that you can pick from to stake. The most lucrative one that we've found for our Guarda wallet review is by staking Ontology's ONT tokens, with a yearly return of 42.15% APY.
7. Ledger Hardware Wallet
It's a fact that hardware-based wallets are more secure than the already locked-down software wallets like Guarda, though it's not always the easiest to access. So, why not have the best of both worlds, as Guarda as easy and native integration with the popular Ledger wallet. It's great to know that you can trust Ledger's unbreakable encryption, while still having Guarda on tap and ready. Once you've finished, then unplug your Ledger, and store it off the grid, away from pesky thieves.
Guarda Wallet Review – Conclusion
Overall, our Guarda wallet review has left us quite impressed with what this fairly underrated wallet can do. It handily beats out its competitors in many aspects that you'd most care about, such as its compatibility with an enormous roster of different tokens, its ease of use, well-designed app, as well as a lot of add-on services and features. There's practically everything you need, all in a single wallet. Although, we do lament some extra DeFi integration that's missing here.
A few of Guarda's competitors, for instance, have natively built-in support for decentralized finance apps like Compound Finance, where you can make instant DeFi loans or lend out your tokens for other users to earn some extra profits on the side. We'd like to see that in the future, as well as something along the lines of Web3 support or allowing users to store NFTs in their Guarda wallet. Though that's nit-picking, in the overall very positive experience following our Guarda wallet review.
All for the better too, as Guarda is the sort of attractive product that might entice more people to start using proper cryptocurrency wallets instead of storing them haphazardly. As per ZDNet, there were 122 major hacks in 2020, all of which resulted in a net loss of around $3.8-billion. Mind you, that value was based on token prices from January 2021, so the total loss would've been even higher today. What you need is a good wallet. And maybe Guarda is the right fit just for you.
Guarda Wallet Review
- Ease of Use
- Project Values
- Tokenomics Model
- Long Term Sustainability
- Compatible with a huge number of different tokens (10,000+) from more than 50 unique blockchains.
- The app is available as a web browser, or on the mobile and desktop to give users the ultimate choice.
- Easy integration with the Ledger hardware wallet for added security and an extra layer of encryption.
- Apps are very easy to use, and well designed to ensure smooth and headache-free navigation and usage.
- Plenty of services on offer for its users – buy cryptos, exchange, staking, taking a crypto-backed loan, creating your own token, buying a web domain, etc.
- Missing some complex services that competing wallets have – DeFi integration, Web3 support, NFTs, etc.