EIDOO: THE SAFEST WAY TO START YOUR CRYPTO JOURNEY
December 24, 2020 by Team Eidoo
When Eidoo first launched in 2017, we started out with a vision to do our part to grow the world of blockchain and cryptocurrency.
To help people become a part of this new movement of financially savvy and forward-thinking crypto users, Eidoo was born to simplify interactions with blockchain through a user-friendly app. Our first product was a crypto wallet, which was among the first to support both Bitcoin and Ethereum in the same wallet.
We understood that the world of crypto can be a very exciting space to be in. Apart from the exhilaration and suspense of price movement that tend to saturate the headlines, especially during market rallies like the one we’re experiencing right now, crypto communities are uniquely active online and tend to have very attentive followings.
It’s scary because it’s new
On the other hand, this excitement and attentiveness can also be quite intimidating for newcomers who are first getting into crypto. Obviously, one major difference (there are many) when it comes to handling crypto is that it requires a new user to understand how crypto wallets work – how to access, store and use crypto can be very different from traditional banking.
With advanced cryptography securing digital assets on the public blockchain and the use of private keys to send transactions instead of usernames and passwords, just learning how to use crypto can be a challenge on its own.
Nevermind all the (usually misleading) headlines about wallets getting stolen, or hacked – it can sometimes be a frightening scenario for someone who wants to get into crypto, but realizes that because it is a form of independent money, and because it’s “decentralized,” there are few options to turn to for help if something goes wrong. No password recovery request, and no customer support.
With crypto, because you are in full control of your funds, you face on your own the same risks you would have if you had money in your pocket, which you could lose accidentally or mistakenly misplace.
The best of both worlds – safe, yet familiar
Understanding all of these constraints for the crypto newcomer, we have designed our products and services to continuously innovate the relationship between people and the crypto space that they interact with.
We believe in crypto’s promise of transparency and full self-determination, so we ensured that our users would always have that – safe, secure storage of their own crypto assets, with sole custody in their hands as Eidoo is a non-custodial wallet, much more secure than centralized storage services as funds are always under your sole control.
We also believe that crypto should be easy and familiar because decentralized finance should be easy to access from everyone and anyone. For this purpose we built the Eidoo app to be easy on the eyes, able to perform activities with a few clicks and benefiting from the same powerful security a crypto wallet should have.
We have welcomed users from all communities, adding and integrating the most important and relevant networks over the years. We make sure that many users find a safe and trusted home in our multi-asset crypto wallet.
Growing crypto together
In the past three years, we’ve continued to build our wallet to serve the demands of our users. From simple interfaces in an all-in-one app to help newcomers use crypto more easily, to more complex features that allow more advanced users to do more with their assets. Today, the Eidoo crypto wallet has a ton of features that let you:
Store, swap, trade and spend seamlessly across many alternative token types.
Check your balance and latest prices with our custom-designed user interface.
Access your funds on Android, iOS and desktop so you can use them on any and all devices.
Access advanced financial services like earning interest and lending, so you can easily participate in the new Defi economy
Link to a debit card (coming soon) to spend your crypto in the real world.
And we’re still building new things every day! Listening to our community, forecasting their needs and future demands, we’re also working on many other new features such as:
Multi-account support from the app.
A Virtual International Bank Account Number (vIBAN) that will enable you to deposit fiat directly into the app to turn into crypto.
Loopring integration that allows for off-chain settlements on Ethereum – in other words, instant and fast transactions even during network congestion!
All of these stay true to our ethos of helping you enter the universe of crypto, and use it to your advantage in the real world.
Thinking of getting into digital assets on blockchain but want a trusted, safe way to start your crypto journey?