Try the All-in-One Eidoo App, Your Gateway to DeFi
Updated: Jan 26, 2021
The story of the year in the blockchain and cryptocurrency space can be distilled into a single overarching trend – decentralized finance (DeFi). It is an umbrella term that covers a vast range of protocols and smart contracts on blockchain that allows people to interact with and access financial services like savings, loans, trading, and insurance, among others.
At Eidoo, we have been working on bringing DeFi access to the masses, implementing new features and updates that we believe will make it easier for our app and wallet users to take advantage of the burgeoning options in this exciting ecosystem.
In 2019, we launched the Eidoo App 2.0 with improved wallet features that allowed for easier and more fluid interaction with crypto assets, and this year we are happy to announce the launch of the eidooCARD — a DeFi Visa debit card that works seamlessly with the Eidoo App!
Eidoo is your gateway to the exciting new world of open finance.
The introduction of the card, in conjunction with the app, means all you need is a phone and data to create a crypto account, lowering the barrier to entry into financial services. The Eidoo App is designed for use on both mobile and desktop devices, with functionality aimed at ease of use.
The Hierarchical Deterministic (HD) wallet is secured with a single back-up passphrase, giving you control over all your wallet addresses with a single key. This is a multicurrency wallet with which you can manage, buy, store, sell, and exchange Bitcoin, Litecoin, Ethereum, and all ERC-20 tokens. Furthermore, it is non-custodial, so you are always entirely in control of your funds.
Linked to this wallet is the much-anticipated eidooCARD, a DeFi Visa debit card for the UK and EEA that gives users access to some 40 million merchants worldwide. What this means is simply that you can spend your crypto just as you would fiat currency on a debit card, avoiding the usual hassle that comes with withdrawing cryptocurrency to fiat. The card works like a regular Visa debit card — you can use it in shops, restaurants, or for online shopping, and withdraw money from supported ATMs.
Within the app is a DeFi Exchange, giving you the ability to explore the DeFi ecosystem and easily manage your entire portfolio while on the move! Earn interest on your digital assets or acquire tokens with built-in investment strategies — the choice is yours. You can trade your favorite digital currencies — Eidoo automatically detects the most common tokens supported by the Ethereum blockchain.
One major attraction of DeFi is the potential returns that "yield farming" can bring, and the Eidoo App makes it possible to take advantage of various farming strategies from the convenience of a phone.
With the eidooCARD, you can shift your digital assets between DeFi systems and your wallet while standing in a shop and then spend the equivalent value in the currency of your country!
All you need to do is set up and verify your eidooID profile on the Eidoo App. Our Hybrid Exchange is available on the app to trade your digital currencies on, and we also have an atomic swap feature to swap between hundreds of possible pairs instantly.
The app also features fiat off- and on-ramp functions. With INSTANT SEPA, European users can buy digital assets in minutes instead of hours, with quick confirmation of $DAI purchases for low-to-no fees. Conversely, you can swap your DAI, USDT, USDC, and EURM tokens for Euros using our in-app wire transfer and pay only a 1% cashout fee.
If you are holding $PNT, you can also participate in the governance of the project by voting on various proposals and staking on the pNetwork DAO. This active participation will be rewarded, with voters earning interest on their PNT tokens at stake. All this available directly via the Eidoo App!
With fiat on and off ramp functionalities, and the ability to participate in the pNetwork DAO , the Eidoo App, it’s the most complete crypto app for the discerning user.
Download and start using all Eidoo offers on our multifunctional app — a Defi-enabled, multi-asset crypto wallet, full-feature exchange, and crypto card!