The Guarda Wallet is a multi-platform crypto hot wallet.
It supports over 400,000 cryptocurrencies and allows you to manage, exchange and store crypto.
Guarda Wallet Overview
- Multi-Currency Support: Over 50 blockchains and 400,000+ tokens.
- Cross-Platform: Available on desktop, mobile, and browser extensions.
- Staking: Built-in staking options for popular assets.
- In-App Purchases: Buy cryptocurrencies with credit cards directly.
- Instant Swaps: Exchange cryptocurrencies within the wallet.
- Backup Encryption: Encrypted backup feature for easy recovery.
What is the Guarda Wallet?
Guarda Wallet is a hot wallet that can be used across multiple platforms, such as desktop mobile, and web and offers a Chrome extension. This diversity of platforms makes the Guarda Wallet very versatile and accessible to anyone, anywhere at any time.
Guarda Wallet also has integration features such as an exchange, where you can buy, sell and trade crypto, and a staking option directly from the app.
Regarding security, Guarda claims it is a non-custodial wallet that enhances user safety. We’ll explore security features further later in the post.
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Key Features of Guarda Wallet
Multi-currency Support
Guarda Wallet has impressive multi-currency support, making it one of the most diverse wallets available. It currently supports over 50 blockchains and more than 400,000 tokens, including major cryptocurrencies like Bitcoin (BTC), Ethereum (ETH), and Litecoin (LTC). It also supports specialized tokens from DeFi projects and is continuously adding new emerging crypto to its roster.
Cross-Platform Functionality
What makes the Guarda Wallet really useful is how many platforms it can be accessed and used on, including desktop (Windows, Linux and macOS), mobile (Android and iOS), web and Chrome extension.
Staking
You can stake a variety of cryptocurrencies directly within the wallet. Some of the popular staking options include Ethereum 2.0, Tezos (XTZ), and Cardano (ADA).
Staking allows you to earn rewards by contributing to the network’s security and operation. The wallet provides users with real-time staking rewards and makes it simple to monitor your assets as they grow.
Staking on the Guarda Wallet is offered by a third-party partner CoinCrypto. You can use their staking rewards calculator to see how much you can earn by locking in for certain periods.
In-app Purchases
If you are looking to buy cryptocurrency directly through the wallet, Guarda has a built-in purchase feature. You can use a credit or debit card to purchase cryptocurrencies instantly.
⚠️Warning
- Although this is a convenient option, we must point out that these transactions come with a steep fee, ranging from 4.5% to 5.5%.
- You also are now relying on additional third-party use, which adds an element of security issues and KYC verifications.
Backup Encryption
Guarda Wallet ensures that your backup is secure with its encrypted backup feature. This feature encrypts your wallet’s backup file and stores it safely on your device.
Instead of leaving your recovery on your device, we recommended backing up securely on a metal crypto wallet.
Exchange
One of the best features of the Guarda Wallet is its built-in exchange.
You can instantly swap crypto within the wallet, without needing to move assets to another exchange.
How Secure is Guarda Wallet?
Whether or not you are new to the world of crypto investing, it has long been known that the best security for your digital assets is to use cold storage.
With a variety of cold storage vs. hardware wallets out there, some people still want the accessibility of a hot wallet. This is where Guarda Wallet can be a useful option for traders who frequently need to buy and sell crypto.
One of the security features of Guarda Wallet is that it claims to be non-custodial. This means that you maintain full control over your private keys, which are stored on your device rather than on Guarda’s servers.
Now, this sounds secure, but that doesn’t mean that the device used to access Guarda Wallet, such as your mobile phone or computer, cannot be hacked.
To help ease the worry of users, Guarda Wallet has added a security feature of multi-signature support. This requires multiple parties to approve a transaction before it can be completed.
This again means that multiple platforms and access points will be needed to OK a transaction. This could give hackers even more options for accessing your info and private keys.
It is also vital to point out that Guarda Wallet is not fully open-source.
We want to highlight that although Guarda Wallet does its best as a software wallet to protect your assets, it will never live up to the security of a cold storage wallet. Our suggestion is to use Guarda Wallet for smaller trades but store a bigger portion of your assets in a cold wallet for long-term storage.
The Best and Easiest Cold Storage Solution
Material Bitcoin stands out as one of the best cold storage solutions for cryptocurrency users who want both security and ease of use. Your private keys are never stored online, eliminating any risk of online hacking or unauthorized access.
Material Wallets are perfect for beginner investors and allow you to easily set up your cold storage and manage assets without complicated procedures. It’s the best in cold storage, offering top-notch security and safety for your digital investments.
Guarda Wallet vs. Competitors
When comparing Guarda Wallet to other wallets, like Coinbase Wallet, Exodus, and Trust Wallet, there are a few standout features to point out.
Ease of Use:
Guarda Wallet, just like Trust Wallet and Exodus, has a user-friendly interface. All three of these hot wallets offer a simple layout for sending, receiving, and managing your crypto.
Support:
Guarda Wallet is available on desktop, mobile, and web/browser. This is similar to Trust Wallet and Exodus, while Coinbase Wallet focuses on mobile and browser extensions, with little desktop support.
Security Features:
Guarda, along with Trust Wallet and Exodus are considered a non-custodial wallet, with multi-signature support, and has compatibility with the Ledger hardware wallet. Coinbase Wallet, on the other hand, has advanced security but heavily relies on its Blockchain LAYER 2.
Supported Cryptocurrencies:
Guarda supports 400,000 cryptocurrencies and tokens. Trust Wallet supports 10 million across 100+ blockchains, while Exodus only supports 260 cryptocurrencies. The Coinbase Wallet supports 240 digital assets and 300 different trading pairs over its platform.
Overall, all of these hot wallets offer similar services but specific platform use and the amount of cryptocurrencies available can be the deciding factor for one over the other.
How to Use Guarda Wallet
1️⃣Setting Up
Getting started with Guarda Wallet is fairly straightforward.
- Download the app: From the official Guarda website or the Google Play Store or the Apple App Store. You can also install Guarda’s browser extension or desktop app for Windows, macOS, or Linux.
- Create a new wallet: After downloading, select “Create a New Wallet.” You’ll need to create a strong password.
- Backup your wallet: Guarda will provide you with a backup phrase (also known as a recovery phrase or seed phrase).
This phrase is crucial for recovering your wallet if you lose access to your device. We suggest storing it securely; like on a metal seed phrase storage wallet.
2️⃣Sending and Receiving Crypto
To send crypto: Click on the Send tab and select the cryptocurrency you want to send, enter the recipient’s address, and specify the amount. Double-check the address before confirming the transaction.
To receive crypto: Click the Receive tab on the top and then click on the currency you wish to receive. Guarda will generate a wallet address, along with a scannable QR Code. Share this address with the sender.
To buy crypto: Click on the Buy tab, add the currency, amount and your credit card/debit card info to make the purchase.
Additionally, you can Sell and Bountry your crypto.
3️⃣Staking
Guarda offers options for staking crypto directly within the wallet. To stake supported assets, go to the Staking section within the app. Select the asset you want to stake, choose the amount, and confirm. Staking rewards will accumulate in your wallet, and you can withdraw them anytime.
Guarda Wallet Pricing and Fees
Guarda Wallet is free to download and use, but there are transaction fees on services like crypto purchases, swaps, and staking.
➡️In-app purchases (Credit Card Fees, Crypto Purchase Fees) of around 4.5% to 5.5%.
➡️Swap fees for exchanging cryptocurrencies are 0.5%. However, you will also have network fees depending on the blockchain.
➡️Staking fees are applied in the form of a 10% commission on staking rewards.
Our Final Thoughts On Guarda Wallet
As a convenient and user-friendly online wallet, Guarda Wallet is a good option for those who are frequently buying, selling and trading their crypto. It is great for beginners and also offers advanced features like staking for more experienced investors.
Remember, that when choosing a crypto wallet, you must consider your specific needs, risk tolerances for security, platform compatibility and multi-crypto support.
For the best in protection, there is nothing like a cold hardware wallet. Just remember to review your needs.
FAQ
Is Guarda Wallet free to use?
- Yes, Guarda Wallet is free to download and use. However, fees apply for certain services.
What types of cryptocurrencies does Guarda Wallet support?
- Guarda Wallet supports over 50 blockchains and more than 400,000 tokens.
Can I stake cryptocurrencies with Guarda Wallet?
- Yes, Guarda allows staking for several assets, including Ethereum 2.0, Tezos, and Cardano.
Are there any fees for using Guarda’s built-in exchange?
- Yes, Guarda charges a 0.5% fee for crypto swaps, plus network fees based on the blockchain used.
On which platforms is Guarda Wallet available?
- Guarda Wallet is available on desktop (Windows, macOS, Linux), mobile (iOS and Android), and as a web browser extension.
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