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As the financial space moves towards decentralization, there is an innate need to take full access and control over the security of one’s digital assets. The result of this need is the emergence of DeFi wallets. However, while there have been more than a few such “crypto storage units” in the past, we have only started to see some innovation in this regard.
Emerging with many innovative steps towards a decentralized crypto wallet is the Best Wallet. A decentralized wallet accessible as a mobile application, Best Wallet is turning heads in the crypto space due to its high level of accessibility and engagement.
This guide will complete an assessment of this wallet’s multiple features to finally answer whether it is suitable for all levels of investors.
Our Abridged Review of the Best Wallet
Best Wallet is a decentralized wallet with many robust applications. It is a multi-chain wallet with the ability to manage other wallets, which gives it a high level of accessibility. Also, it being non-custodial will allow users to have full control, which we also appreciate.
The addition of multiple non-conventional functionalities like staking, portfolio management, and presale aggregation makes it a good competitor to traditional digital wallets. The fact that many novel functions are tied to the native crypto—$BEST—further adds to the wallet’s innovativeness.
That being said, the platform doesn’t talk much about NFT integration or have a desktop app. While this doesn’t have much impact on the overall experience, it is still worth noticing.
Overall, Best Wallet is a good, balanced crypto wallet for beginners as well as crypto veterans.
What is Best Wallet?
Best Wallet is a decentralized wallet that the website describes as multi-chain, multi-wallet, and non-custodial. This wallet could be defined as a singular platform that lets users manage other crypto wallets, allowing users to interact with multiple tokens using one application.
The wallet supports upwards of 60 chains, including Bitcoin, Ethereum, Binance Smart Chain, Solana, Avalanche, Optimism, Tron, Cardano, XRP, Tezos, and Polygon, to name a few.
The presence of multi-chain utility means that the Best Wallet could be a one-stop solution for those who seek to engage with different types of blockchain ecosystems, be it Metaverse or DeFi.
This wallet’s functionalities are both conventional and unconventional. Traditional crypto investors can use it to buy, store, deposit, send, swap, sell, and manage portfolios.
Those who seek to use the Best Wallet in innovative ways can also use the stake crypto to earn passive income, engage with iGaming applications, and even find the best presale investments via the Presale Aggregator.
These multifaceted functionalities have been enabled inside the Best Wallet’s ecosystem thanks to three main fundamentals: the Best Wallet itself, the Best DEX, and the Best Card.
Due to these factors and a fair amount of good press the wallet has got from the likes of CoinTelegraph, Bitcoinst, CoinDesk, NewsBTC, and other major publications, it has acquired a large following on Twitter, Discord, and other notable social media platforms.
Pros and Cons of Best Wallet
Here are the pros and cons of Best Wallet:
Pros
Robust interface and easy to access
Support for multiple chains
Multiple wallets can be managed from a single platform
BEST token available to gain access to more perks
Features like Presale Aggregator give users access to presales before they go public
Airdrop campaign for the community
Best Card comes with an 8% cashback
Cons
Many of the features, like portfolio management, are yet to be released.
More could be added regarding NFTs.
The platform is not accessible through desktop yet
Reliance on BEST tokens to access premium features
Analysis of the Key Features of the Best Wallet
Best Wallet has distinguished itself by highlighting the reasons why even its conventional features stand out. This section gives a complete analysis of the wallet’s core functionalities.
Buying Token
Best Wallet has integrated Onramper, a fiat-to-crypto aggregator, allowing users to buy crypto using fiat. However, Best Wallet takes it one step ahead and leverages this functionality to reportedly help investors get good exchange rates and low processing fees when buying cryptocurrencies.
Store
Users can store their assets in Best Wallet, which is said to securely hold assets and manage portfolios. The platform is equipped with decentralized account recovery and advanced anti-fraud mechanisms, which are essential additions today.
Swap
Another notable feature of Best Wallet is Best DEX, which allows users to engage in cross-chain swaps using an auto-router to find the best exchange rate and lowest fees.
Portfolio Management
Best Wallet has also highlighted the features that have yet to be added to the platform. One of them is portfolio management. When this feature arrives, users will be able to track their crypto assets across all wallets. Best Wallet also states that users can also use this feature to create and manage several wallets.
Staking
Best Wallet’s staking feature reportedly gives access to high APY through exclusive staking partners. While the names of these staking partners have not been given, it is likely that high-cap tokens like Ethereum, Solana, and BNB could be among them.
Spend
Best Wallet also offers a native credit spending app supported by Google and Apple Pay. Known as Best Card, this tool allows users to spend their cryptos to buy products and earn up to 8% cashback.
iGaming
Best Wallet has partnered with multiple iGaming institutions, including CoinPoker and WSM Casino. Using the wallet will allow users to interact with these online poker platforms and casinos and earn benefits like free plays, bonuses, loot box access, and other perks.
Presale Aggregator
With investors increasingly eyeing early-moving opportunities, Best Wallet has created a Presale Aggregator. The aggregator will include a comprehensive review of the project’s whitepaper and tokenomics and allow users to participate in private sales before the presale goes fully live.
Security
Best Wallet has emphasized security heavily. With features like two-factor authentication, users can rest assured that their seed phrases are never accessible to the public. Furthermore, Best Wallet has taken steps to ensure the site’s security via FireBlocks, a third-party security tool.
Upcoming Features
Many of these core features of the platform are yet to be released. We have already discussed one of them: portfolio management. Other upcoming features are exclusive to Best DEX, which include the following:
Market Insights
With market insights, users will be able to analyze the crypto market via real-time updates and advanced charting tools.
Token Analytics
Best Wallet’s Best DEX will be equipped with token analytics, giving users access to real-time data. Other additions to this will include token info, token sentiment, and token security.
Token information will include market capitalization, trading volume, token price, all-time high, and launch date. Token sentiment will inform users about the token’s community trust factor. Regarding token security, Best Wallet will give a liability score based on multiple parameters.
Unlike other projects that have a vision for upcoming features, Best Wallet has already created a framework for them. And from the looks of it, their implementation is going to be standard, which makes them achievable and accessible.
$BEST Token
Best Wallet has been designed as a decentralized ecosystem with functionalities that involve more than just buying and selling crypto assets. $BEST, the project’s native crypto, powers these functions.
$BEST has been designed as a utility token with multiple benefits, including
Reduced Transaction Fees
Those holding the $BEST token can gain access to lower transaction fees across the Best Wallet ecosystem. This utility could be beneficial for beginners who are often on the fence about crypto due to fee-related restrictions.
Early Access to Projects
The token will play a critical role for those wanting to interact with the Presale Aggregator. It will allow investors to gain access to presales as early as Stage 0. This facility, along with the addition of token analytics, can potentially aid users in finding the best worthwhile presales.
Staking Perks
The $BEST token will also allow stakers to earn a higher APY on all assets. The addition of a native token, even adding a layer of complexity, also increases rewards, which could make $BEST a more valuable asset in the long term.
Governance
Since Best Wallet is a decentralized ecosystem with the community holding the project’s reins, the $BEST token will be used to earn governance rights and decide the direction of the project’s development.
Earning $BEST Through Gamified Airdrop
Best Wallet’s $BEST airdrop has already gone live, giving users a chance to grab this high-potential asset before they hit exchanges.
And the airdrop is not a simple affair, as Best Wallet has gamified the entire mechanism. To become eligible for the airdrop, users will need to register, which can be done directly or using a Twitter/X account. They will then be given regular tasks to complete and accumulate points. The higher the number of points collected, the higher the share of airdrop they will get.
Our early adopters are smashing through their quests with our #airdrop launch! 
By getting a head start, these first users have more opportunities to earn $BEST! 
Don’t hesitate, don’t wait, $BEST be early! 
Join Now: https://t.co/81bA2R5kOE pic.twitter.com/njBwNiyJnB
— Best Wallet (@BestWalletHQ) July 4, 2024
The tasks include engaging with the project’s socials to promote the wallet, participating in other daily quests, and referring the wallet to others.
The addition of the airdrop gives Best Wallet a community-driven element, making it more valuable than traditional wallets.
Conclusion
This article has given a complete view of the Best Wallet. This tool has more functionalities than most other digital wallets due to the addition of functionalities like Presale Aggregator and analytical tools.
While it will face competition from the current wallets, Best Wallet could grow to become one of the best wallets on the market if it sticks to its roadmap and introduces more innovative attributes.
*This article was paid for. Cryptonomist did not write the article or test the platform.