7 Reasons Why the Eidoo Wallet and App Is Better Than Other DeFi Wallets
Updated: Sep 15, 2021
There are some great Defi wallets out there. There are, however, very few that provide a single point of entry into a greater ecosystem that allows you to tap into the world of DeFi. Eidoo is referred to as the Swiss Army Knife of wallets because of its geographic origins and the tools offered via the Eidoo DeFi wallet app.
What makes the Eidoo Wallet the best DeFi Wallet? Here are 7 reasons why:
EidooID allows you to use all of Eidoo's services and partner platforms without performing multiple verifications. A single EidooID profile is created through one KYC identity verification. Once that verification is done, users can explore the full potential of Eidoo Wallet.
To get the Eidoo Wallet, you need to download the Eidoo app, go to the main menu, click “other,” and then “Your identity,” and from there follow the process outlined here.
2. Instant SEPA on and off-ramp for fiat
With Eidoo, there is no need to jump from one exchange to the next to buy digital assets. Eidoo’s Instant SEPA offering makes digital purchases faster and more efficient than ever, especially cross-border European wire transfers.
All you need to do is download the Eidoo wallet, do your KYC, click on the “Buy” button in the main menu, select the digital asset you want, and after that, the purchase method you prefer. To off-ramp your crypto to fiat, the process is reversed.
3. Access to a Decentralized Exchange
The Eidoo DeFi wallet has access to a DEX which opens you up to more DeFi platforms, their tokens and gives users an overview of their assets. With the DEX, you can track your asset performance and easily buy or sell digital assets. You can also check out new projects as they emerge and compare rates on the different lending platforms or get an instant crypto loan. The list of integrations and partners is continually growing.
4. Over 1000 supported Tokens
The Eidoo wallet is all you need for all your ERC-20 tokens. The wallet rids you of the need to manage your tokens across multiple wallets. Furthermore, the app works across a variety of alternative token types.
5. Access to the Visa-backed debit card eidooCARD
The eidooCARD is available in the UK and EEA, and because Visa backs it, you get access to VISA merchants both online and offline. Ordering the eidooCARD is done through the Eidoo DeFi Wallet app and requires KYC, or if you already have a Tier2 EidooID profile in your wallet, no additional verification is required. With the eidooCARD, you can easily convert your BTC, ETH, PNT, and stable coins into GBP or EUR and start spending.
6. Yield farming opportunities
Yield farming is usually conducted with ERC-20 tokens. However, thanks to Eidoo’s collaboration with pNetwork, we have integrated cross-chain bridges into our app that the DeFi wallet resides within. Both Ethereum and Bitcoin Eidoo users with the wallet app can deposit and grow their assets. This is made possible with Eidoo’s multi-currency crypto support and pNetwork’s pTokenized Bitcoin (pBTC) for example.
7. NFT manager
The Eidoo NFT manager within the Eidoo DeFi wallet lets you buy, hold, and trade Non-fungible tokens. Eidoo makes it easy to view & transfer your non-fungible tokens, whether they be crypto-collectibles or digital artwork.
If these aren’t enough reasons to convince you to get the Eidoo Wallet now, then feel free to hop into our Telegram community and ask members if they enjoy the opportunities the wallet offers. Alternatively, follow us on Twitter for more news.