Guarda is a multi-platform cryptocurrency wallet that offers web, desktop and mobile wallets. Guarda can be synced with Ledger hardware wallet to improve security, it doesn’t store your private keys and is super easy to use. The only problem is that Guarda offers relatively high trading fees.
Company Overview
Established in 2017 in the European Union, the company behind Guarda wallet, has made steady progress towards their goal of creating blockchain-related products. The company has acquired a Financial Intelligence Unit License (FIU) which enables them to exchange cryptocurrency against fiat currencies while complying with all relevant laws.
Since their inception, they’ve created over 10 different products, most of them wallets, but also exchanges, crypto purchase processing solutions, token generators, and even prepaid debit cards. In addition, they’ve also incorporated support for hardware wallets.
The company seems to be doing well; working diligently to outperform their competition and earning a lot of press credit and mentions along the way.
Pros And Cons
Pros:
Good security measures
Easy to use
Live customer support
The high number of supported cryptocurrencies
Cons:
Still new company
Relatively high fees
Is Guarda Wallet Safe?
If you would ask what aspect is the most important when picking a crypto wallet, every specialist (without any exceptions) will tell you that it’s security. While some of you are looking for easy-to-use wallets or options that support the highest amount of coins, none of it matters if your assets can be stolen in the blink of the eye.
The security of cryptocurrency wallets mostly depends on the type of wallet that you choose. Let me introduce you to each of them to provide a better understanding:
Online wallets. It’s pretty obvious that online wallets tend to be the least secure. While they tend to be really easy to use, it’s not recommended for people who store higher amounts of cryptocurrencies. Online wallets are the most vulnerable for hacking, so you shouldn’t keep an amount that you would be afraid to lose.
Software/app wallets. Software or app wallets are the middle option between secure hardware wallets and vulnerable online wallets. They’re usually good for those who are making hourly or daily trades. However, it’s still recommended to keep a good amount of your assets in a hardware wallet.
Hardware wallets. As you probably already understand, hardware wallets are one of the most recommended options for people who value security. Since your private key is stored offline, hackers couldn’t access it.
Paper wallets. Paper Wallets are considered to be the most secure option. The only drawback is that if you lost it, there’s no way of getting your assets back.
Guarda is a multi-platform cryptocurrency wallet, it has both online and software wallets. Out of the two, I would recommend choosing the Guarda software/app wallet that should be relatively secure. It’s not as reliable as hardware wallets, such as Ledger Nano S or Trezor, though.
The final security aspect that you should pay attention to when choosing a wallet is whether the wallet is open-source. If you’re not familiar with the term, open-source wallets allow you to see the entire code and check if there are no malicious codes that could threaten your security and lead to losing your assets.
As you’ve probably already figured out, Garda’s wallet is open-source. It means that you can relax and start/continue using Guarda wallet without worrying about security threats.
All things considered, Guarda’s wallet seems to be relatively secure. So, now that we got security out of the way, it’s time to find out more about different types of wallets that Guarda has to offer.
Guarda Wallet Supported Crypto Coins
Supported coins include: Bitcoin, Ethereum, XRP, Bitcoin Cash, Bitcoin SV, Litecoin, EOS, Binance Coin, Cardano, Ethereum Classic, Tron, Stellar, Monero, Tezos, Dash, NEO, Zcash, Cosmos, NEM, VeChain, Dogecoin, QTUM, Ravencoin and Waves.
Bitcoin is the world’s most popular cryptocurrency and has the largest value by market cap. As the first cryptocurrency, Bitcoin has established itself as an effective hedge against the wider economy in recent times.
Ethereum is number two and offers smart contracts that allow users to build applications, such as DeFi protocols, on the Ethereum blockchain. This has led to an explosion of DeFi projects recently that all use ETH to power their networks, which could make Ethereum a very much in-demand coin in the coming years.
Coins that can be staked through the wallet include: Tezos, Harmony, Cosmos, Callisto, Tron, EOS, Komodo.
The wallet offers special support to Zcash through its Shielded Wallet. This allows users to maintain all of the privacy features that Zcash (ZEC) offers while facilitating ease of payments and transfer of the security token. The crypto wallet was developed in collaboration with the Zcash development team to make sure that its zk-SNARK technology can still be used.
zk-SNARK technology works in a similar way to TOR browser and other onion encryptions. The information passed along the chain is safe and secure; receivers do not know where the transfer came from, and senders do not know where they will be sending the coins to. This makes the wallet ideal for theurity and privacy-conscious traders who do not want their purchasing data to be collected.
User Interface
Guarda Wallet’s website is very well laid out and is one of the better ones we’ve seen in our reviews.
As seen in the screenshot below, to the left-hand side is the current balances for all the crypto coins and tokens that the wallet supports.
From here, users can easily send, receive and buy crypto coins, as well as see all of their balance history — a useful feature for traders who keep their profits in their wallet and off exchanges as much as possible to track where their trading strategy could be improved.
The crypto wallet also offers exchange features — spotted an altcoin that you think will rise soon? You can exchange some of your holdings in another cryptocurrency, such as Bitcoin, to ride the wave of technical or fundamental analysis you have anticipated.
How to Store Your Crypto Coins in Guarda Wallet
Storing your holdings in a cryptocurrency wallet is an important step for keeping your funds safe. Many traders keep their cryptocurrency on exchanges, but this is not advised. Sometimes cryptocurrency exchanges get hacked, such as Cryptotopia in 2019, where users can lose all of their funds in the process.
It is far smarter to keep your holdings in a secure wallet, such as Guarda Wallet.
It has the added advantage of offering cryptocurrency management and staking, which means your investments will continue to grow while you wait to cash out one day in the future.
How to Transfer Your Crypto Funds From/To Guarda Wallet
If you already own some crypto that is stored elsewhere, you will first need to go to the wallet ‘Receive’ tab. Take a note of the deposit address or copy it to your clipboard.
Then, go to wherever you have your coins stored and send them to your wallet’s address, usually labeled as ‘Withdraw’.
To send funds, you just reverse the steps above. Find the deposit address on where you would like to send your crypto, then go to the ‘Send’ tab in the wallet, enter the address and then input how much you would like to send.
Read More: What Is The Best Litecoin Wallet?