Nowadays, it has become a lot easier for traders to find out a trustworthy crypto wallet than it was in the earlier days of crypto inception. However, there are specific challenges integrated with it, too. In the present time, there are multiple options of wallets available for traders to pick one that might leave them in a perplexing situation.
Ambire wallet is a type of crypto wallet that might not be known commonly by traders; however, it is enlisted among the topnotch crypto wallets in the market. In the present time, it is now more frequently used by traders, and they are trying to figure out its features and services.
Here is a comprehensive article that will help readers, especially beginners, to learn about the features and services provided by the wallet. This article will also help in solving a number of queries and confusions of the traders who are planning to opt for it in the future.
What is Ambire Wallet?
Ambire wallet is a cryptocurrency wallet that can be used conveniently by all traders. It is a website-based smart wallet. There is no need for the extension to be installed in the device the user is using; the user can use it over the internet browser.
The crypto space has been flooded with a number of different types of hot wallets these days, making the competition more challenging.
There are certain distinct features of the Ambire wallet that make it different from all the existing ones. The most important feature of the Ambire wallet is that it is not based on a single blockchain network. The wallet supports several different blockchain networks.
Therefore, it helps the users to stoke currency or tokens from different networks at the same time. These networks may include Binance Smart Chain, Polygon, Ethereum, and eight other networks.
This provides a huge convenience to traders who refrain from the struggles of managing multiple wallets and are always finding ways to store all their crypto assets and funds in the same place. In addition to that, another important feature of the Ambire wallet is that it is supported by a hardware wallet.
There are three commonly known hardware crypto wallets that support the Ambire wallet. These wallets specifically include Trezor, Ledger, and Grid+ Lattice. The user can easily use the interface of the Ambire wallet in case he owns any of the wallets from these brands, such as NanoX, a Trezor Model T, or a Ledger, etc.
Moreover, the user will be provided with the fully secured environment of a hardware wallet while using the interface.
No reputable wallet can maintain its place in the market without offering any kind of decentralized financial protocol to its customers. Similar is the case with the Ambire wallet. The users can access all types of decentralized finance services and features while using the wallet, whether it be crypto lending, earning passive yield, or Ambire Wallet airdrops.
All these services can be used directly from the Ambire wallet interface, and there is no need for any third party for mediation. Moreover, while using the Ambire wallet, the gas fee of the user is managed and paid automatically.
The fee is paid by the user using stablecoins and not any kind of tokens. Many traders consider it a radical approach for carrying out transactions into or from the crypto wallet.
How to Use an Ambire Wallet?
There are some simple steps that need to be followed to use the Ambire wallet. The very first step is to register yourself on the platform. The features and services provided by the wallet will also be explained in detail. The steps to be followed are mentioned below.
- Step 1
The first step is to open the official website of the Ambire wallet. It is essential to check that the website that one opens is authentic and not a scam. There are a lot of fake websites that have been now created by hackers and cybercriminals to trick users. Therefore, always confirm before using and do not fall for suspicious links.
- Step 2
On the screen, the user can then spot the option “Go to Wallet” in the middle, marked as yellow. Press that option, and it will direct the user to a new page.
- Step 3
The user has to then add the account details. He can either add an already existing account or create a new one if he does not own any. However, the first option is helpful for users already using a MetaMask wallet, a Ledger, or a Trezor device and who want to acquire an Ambire wallet airdrop.
In case one does not own an account, the user will need an email address and a password to create one for future use.
- Step 4
The last step is to log in to the wallet. When the user does so, there will appear a lot of messages and pop-ups on the screen. Firstly, they will ask the user to get their email address verified. For this purpose, the user ah to open his inbox and choose the email that the Ambire wallet has sent.
This is a compulsory step, and in case the user loses his account credentials in the future, it will be needed in order to get his funds recovered.
The user will also need to grant two permissions to the Ambire wallet for browsing. These may include allowing the wallet to access the clipboard of the user and enable it to send notifications to the user. It is almost a common practice that most wallets ask for.
After finally getting access to the wallet, the backup account has to be downloaded by the user. It will be helpful for him in case he loses his account password. This completes the registration process of the user on the Ambire wallet.
How Can Crypto be Sent or Received over Ambire wallet?
After getting access to the Ambire wallet, the user will see the dashboard in front of him. The important step is to figure out where could all the features of the wallet can be accessed and to understand the real functions of all options that appear on the screen.
All the main sections of the Ambire wallet will be located on the left side of the screen. It may include the transfer and swap options, the dashboard, the transaction details, cross-chain functionality, decentralized financial services, and several others.
This is the actual side of the panel where the user can handle all the activities performed by him and the application of the Ambire wallet.
In addition to that, the user can connect to different decentralized applications, change the network, or view and copy his wallet address using the options given at the top of the page. It is a relatively simple process as compared to other wallets in the market that is actually admired by most traders and investors.
The center of the page will differ depending on which page has been visited by the user. In order to transfer funds into the account, here are some easy steps that have to be followed by the user.
- Step 1
One can find the Deposit option at the bottom of the page on the left side of the panel. In order to transfer your funds into the Ambire wallet. After that, the user could see different choices in the form of a menu appearing on the screen.
The Ambire wallet is a non-custodial wallet. No other person can get his hands on the wallet; only the owner of the wallet can have access to the funds in the wallet. This means that the owner can use the wallet without revealing his identity. The Ambire wallet will only require his email initially to access the wallet and nothing else.
The identity of the user is not tracked by the Ambire wallet. In case the owner wants to buy crypto using his fiat money, he has to pass through certain KYC checks.
These checks are mandatory to look at the platform from where crypto is being bought. These platforms may be the collaboration partners of the Ambire wallet, and they have nothing to do with the wallet itself.
- Step 2
In case the user wants to transfer funds from another crypto wallet into the Ambire wallet, he has to go to the platform of that wallet which may be an exchange account or a designated wallet. Next, he has to choose the option of withdrawing crypto.
After that, he has to enter the address of the wallet he wants to transfer funds. In this case, put the address of the Ambire wallet, or it can simply be done by scanning the QR code.
- Step 3
Once the funds have been sent to the wallet, it might not require much time for them to appear in the Ambire wallet. After a few minutes, the user will receive a notification, and he can then view his funds on the dashboard of the wallet.
- Step 4
In order to send the crypto from the Ambire wallet into another wallet, on the left side of the panel, the user can see the “transfer” option. This will direct him to a new page dealing with crypto sending.
- Step 5
After reaching that page, the user simply has to choose the crypto asset he wants to transfer, the amount that has to be transferred, and the address of the wallet at the receiving end. After completing a few confirmations, the funds will be successfully transferred into another wallet.
Transferring funds into and out of the Ambire wallet is a straightforward and simple process. The platform itself guides the user on what to do next, step by step. It is important to note that the wallet address integrated with the Ambire wallet is universal.
This means that if the user is looking for other features, such as the storage for nonfungible tokens, the Ambire wallet airdrops, or even trying to get the support of different networks, he can use the same wallet address in all cases.
Using the same address, the user can receive other types of tokens, such as ETH, AVAX, BSC, or even different types of crypto assets.
What are Swap and Cross Chain Transactions?
A very fundamental feature associated with any kind of crypto wallet is sending or receiving crypto funds. The Ambire wallet offers a number of additional features, too, for its customers. These features include crypto chain transfers and crypto swaps.
- Crypto Swapping
As the name indicates, exchanging your crypto funds in the Ambire wallet with any other crypto token is referred to as crypto swapping. The user will see the option of WALLET on the screen, and it contains the traditional token of the Ambire wallet. It may also include the tokens the user may get for supporting the Ambire platform.
The user has to choose the crypto asset he wants to swap with the native currency in the WALLET from the huge list given. In case the user wants to diversify his trade profile and add some new tokens and coins to it, it can also be done by the Ambire wallet.
- Crypto Chain Transfers
Crypto chain transfer is also an essential feature of the Ambire wallet. Using this feature, the user can get his assets swapped on another blockchain network for the same tokens or coins that he has here.
This can be understood by the example that if one owns the Ether coins on the Ethereum blockchain network, they can be swapped easily on the Binance Smart Chain using this feature. This feature helps the user as he cannot directly send the ETH into the Binance Smart Chain and needs to swap it before transferring.
This is also a simple and convenient process that can be carried out easily by the users. The user has to choose a token from the wallet and also select a network where he wants to get the token transferred.
When the transaction criteria are met, and the user has enough balance in his wallet, the token will be automatically swapped through cross-chain transfer. As a result, the user will receive a new token on the other network.
The simplification and straightforwardness of the entire procedure highlight the importance of the Ambire wallet among all other crypto wallets. Not all wallets provide this convenience of cross-chain swaps to their users.
Being a browser wallet is also a helpful feature of the wallet. The users can easily use the interface of the wallet and access the features provided by it in a smooth and structured manner.
How to Earn with Ambire Wallet?
Being able to earn with the wallet is another essential feature of the Ambire wallet. The users can earn a passive interest using the Ambire wallet, also known as APY, using crypto assets. This can quickly be done by getting it deposited into a smart contract. For this purpose, the user has to follow specific simple steps.
- Step 1
In order to earn using the Ambire platform, the user needs to get his native crypto swapped into any other token that is supported by the platform.
- Step 2
To begin earning with the Ambire wallet, the user can utilize the two Web 3.0 channels available. One of them is the Ambire wallet itself. The user can either stake the ADX tokens or the Ambire wallet tokens using the platform. This will help in earning about 40% interest APY.
In addition to that, the user can also utilize the AAVE staking feature that is built into the system. This feature provides a huge list of tokens that are supported by the wallet. Using this feature, the user is able to stake BUSD, AAVE, DAI, USDT, USDC, WBTC, and WETH. The APY earned by the user can almost reach 1.5% in case he chooses to stake through the AAVE route.
- Step 3
After choosing the token that has to be staked, the next step is to get it deposited in the smart contract. This will not able the user to earn interest through crypto passively. Although there are not a variety of options available for the users to earn through Ambire, however, it still provides sufficient opportunities for the traders to earn passively.
Using the WalletConnect feature, the user can also connect to the decentralized applications that are present outside the Ambire wallet. The simplified and seamless procedure at each and every step is the most significant benefit attached to using the Ambire wallet.
Ambire wallet provides an updated and perfect crypto asset management empowered by the browser to the traders looking for a convenient wallet option in the market. The wallet integrates all the modern features that one expects in a perfectly working wallet.
The wallet supports the integrations into multiple chains, enables the users to swap the networks, and is a convenient-to-use hot wallet that is giving tough competition to the top-notch crypto wallets available in the market.