The bottomline: Guarda’s cryptocurrency wallet offers many options for those who want to store their cryptocurrency on any internet-connected device. It supports thousands of cryptocurrencies via mobile, desktop, and browser-based apps.
Pros & Cons
Advantages: Wide range of supported cryptocurrencies. Useful tools for desktop, mobile, and browser apps.
Cons : Closed source code; limited NFT support
Table Of Contents
Where Guarda shines
Selection: Guarda has the ability to store many digital assets. According to its developers, the total selection is around 400,000.
– Guarda lets users trade, buy and receive rewards on cryptocurrency.
Where Guarda falls down
Closed-source: Guarda, a self-custodial wallet, can offer advantages over third party storage options like exchange-based services which can be susceptible to theft and loss. Guarda does not offer the same advanced security features as competitors, such open-source coding, which allows users to see inside the code.
Minimal support for non-fungible tokens Although Guarda claims that additional functionality will be available for NFTs, there are very few options for users to make transactions with NFTs.
Guarda is the best for:
Easy to use.
Storing various types of cryptocurrency.
Guarda at a Glance
More information about Guarda’s ratings
Security: 3 stars
Guarda, a self-custodial crypto wallet, avoids the potential dangers of leaving your crypto on exchanges. You can’t lose crypto if the exchange goes down or is hacked. There are some tradeoffs to consider when keeping digital assets safe. You are at risk of being hacked. Your crypto may be permanently locked if you forget your password or recovery phrase.
Guarda offers security features, such as multisignature support for Bitcoin or Ethereum. Multisignature allows multiple users to approve transactions, which makes it difficult for anyone to drain your holdings.
Guarda does not have many features that other competitors offer. Guarda is not open-source so developers must be trusted when they claim their code is secure. Even if you don’t code, it’s possible to review the code and highlight any potential problems. Guarda claims it has made as much information as possible public without disclosing trade secrets.
Guarda does not have two-factor authentication. This is a useful tool in case you forget your password. Some wallet developers believe that 2FA should be redundant because it provides a security phrase you can save in the event you are locked out. You may not have recourse if you lose this.
Integration 5 out of 5 stars
Guarda allows users the ability to perform most transactions from their wallet software. The product also supports cryptocurrency trades and purchases (for a fee), as well as staking up to 15 assets.
Guarda claims that the wallet can support around 400,000 different cryptocurrency. These include well-known cryptocurrencies like Bitcoin, as well as obscure tokens that are not supported by Ethereum’s network. While Guarda is able to store some types of NFTs it does not have the same options as competitors when it comes to viewing these unique digital assets and making transactions.
Storage 5 out of 5 stars
Guarda is a hot cryptocurrency wallet. It stores your keys using software on an Internet connected device. Guarda’s creators do not have access to the data needed to spend or transfer crypto. Only you can control it.
Let’s say you want to add another layer of protection for your crypto. A cold wallet is a way to store your crypto on a device that isn’t connected to the internet. Guarda allows you to convert cryptocurrency into cold storage devices that are sold by Ledger, the wallet maker.
Functionality: 5/5 stars
Guarda offers several methods to access your crypto wallet. These include desktop, mobile, and browser-based apps. Remember to enter your recovery/security phrase every time you set up your wallet for the first time on a new device.
Tools: 5 of 5 stars
Guarda offers a wealth of information on cryptocurrency. Its content can be used to help users navigate the storage process. You can also track and manage your cryptocurrency portfolio using the company’s mobile and desktop apps.
Additional information about Guarda
Pricing: Guarda can be used for free, but you will need to pay for certain services. Trading crypto, for example, incurs a 0.5% transaction fee. You will also need to pay about 2% for buying and selling cryptocurrency using fiat currency. The fees charged by the cryptocurrency networks that support it will vary depending on market conditions and what asset you are using.
Guarda points out that these fees do not go to the company’s creators, but to third-party partners with which it collaborates. Guarda’s website doesn’t provide any explanation as to how the company makes its money.
Is Guarda right to you?
Guarda is a great option if you want to store many cryptocurrencies on multiple devices.
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