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Disclaimer: eToro USA LLC; Investments are subject to market risk, including the possible loss of principal. Your capital is at risk. This ad promotes virtual cryptocurrency investing within the EU (by eToro Europe Ltd. and eToro UK Ltd.) &USA (by eToro USA LLC) which is highly volatile, unregulated in most EU countries, no EU protections & not supervised by the EU regulatory framework. Investments are subject to market risk, including the loss of principal. Wallet Review brings value with every new addition to their ecosystem.

Currently, consists of their Mobile App, their Exchange, and the newest addition, the DeFi wallet. Both the Exchange and the Mobile App are custodial, but the DeFi wallet is non-custodial. All three applications are seamlessly integrated with one another in a single ecosystem. has focused on the user experience to a degree that really sets them apart from their competitors. Each of their applications are exceptionally easy to use. In this review, we will be focusing on their two wallet applications.

  1. The Custodial Mobile Application
  2. The Non-Custodial Wallet
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Pros & Cons


  • Many ways to buy/sell/use cryptocurrency from within the application

  • Contains all the standard security features such as 2FA, and Passcodes

  • Simple and intuitive interface


  • Full set of features are not available to all countries or users

Beginner Perspective of DeFi Wallet DeFi wallet on iPhone is highly proficient at creating an experience ideal for newcomers to the world of cryptocurrency. Their user interfaces take out as much complexity as possible, and hand holds the user through many of the more technical aspects. often adheres to the philosophy of “less is more”, and this is reflected in the Non-Custodial wallet. The only assets that are offered are the ones that people are most familiar with, (Bitcoin and Ethereum) as well as’s signature asset CRO.

The wallet makes it very easy to integrate with the rest of the offerings. Instead of having to copy and paste addresses between applications, the user is able to hook up the wallet directly to the rest of their account. This essentially allows the non-custodial wallet to talk to the custodial wallet. Now, when you’re moving funds from one wallet to another, the user has the ability to select more user friendly destinations such as “ Wallet” or “ Exchange”.

You can also use the DeFi wallet to stake cryptocurrencies like CRO and DOT to earn passive income on your crypto.

From a beginners perspective, the DeFi wallet is a fine starter wallet. It has all the essentials, and little to no complicated features that require additional understanding to use.

Keep in mind that to use the DeFi wallet you’ll need to buy your crypto somewhere else and transfer it to the DeFi wallet. Of course the mobile app is the natural choice for funding the DeFi wallet…

What About the Regular App? is a great place to start using cryptocurrency. You can buy, sell and lend your crypto to earn a yield.

They have invested heavily in creating a user experience for individuals that are new to cryptocurrency. From being able to purchase cryptocurrency with your credit card, to forcing you to implement top notch security on your own account. then gives you access to a range of different services, using terms and definitions from the traditional world of finance. Much of the functionality and features you will find within the Mobile Application are services that you would find at your traditional bank, except in crypto form. This aspect of familiarity brings a lot of trust, which is crucial to the crypto beginner.

The app interfaces perfectly with the non-custodial DeFi wallet and users are charged no extra fees when transferring between the two applications (although there might be regular blockchain fees).

Is DeFi Wallet Safe?

The wallet is non-custodial, this means that you have complete control over your cryptocurrencies. The wallet makes you copy down a 12 word phrase, which you should keep in a very safe place such as a fireproof safe. The fact that the wallet forces you to do this is an example of great user experience, and dedication to the security of user funds.

When you get rid of your device, it is important that you don’t leave any trace of the cryptocurrency wallet in memory. Sophisticated hackers may be able to steal your funds. That’s why the wallet has the ability to manually destroy any record that the wallet ever existed in the first place. Use the “Remove wallet from device” option from the menu to completely remove the wallet from your device. In order to accomplish this, you need to enter parts of your 12 word phrase in order to prove that you’ve backed up your funds. If you don’t have your phrase backed up, and you removed your wallet, then you would lose your funds forever. It’s a good thing that before removing the wallet from your device the application itself makes you prove that you’ve written it down.

Is Mobile App Wallet Safe?

Even though the Mobile Application is a custodial wallet, has done a great job of building trust and security into the application. has secured some of the highest security ratings for their applications. The ratings include Cryptocurrency Certification Consortium, ISO/IEC 27001:2013 and PCI:DSS.

Not only that, but has secured the most insurance for cryptocurrencies out of any other cryptocurrency company in the world. has secured $355 million dollars in insurance in the event that an untimely hack or disaster happens that results in the loss of user funds.

Both the Wallet and the Mobile Application supports the ability to use a passcode, a face scan, or 2 factor authentication to gain access to the app. This amount of flexibility, and the ease in which these features can be set up support the overall security of the application.

What Are the DeFi Wallet Fees?

There are no extra fees to move funds within the ecosystem, however you should know that all transactions are on-chain. That means that if Ethereum, for instance, is congested you might pay anywhere from $5 to $50 for a single transaction.

Transaction fees are charged differently from blockchain to blockchain so you might not know exactly how much it will cost until you attempt to make the transaction.

Fortunately the DeFi wallet has a handy Ethereum gas tracker so you know exactly how much ETH fees are at any given time. You can pick and choose times where the network is less congested in order to make cheaper transactions. Wallet and Mobile Application FAQ

The Wallet is non-custodial. has an alternative custodial wallet, which is simply the mobile application.

Because the wallet is non-custodial, your funds are completely within your control. This doesn’t mean that they are 100% safe though. You must copy down your 12 word phrase in order to completely secure your cryptocurrency.

You’ll have a different address for each crypto asset you hold.

To find your address simply click the wallet dashboard and then hit the receive button. Select the cryptocurrency you want to receive and then you’ll be given a barcode and string of keys. You can use either to receive coins. Please double check the key, however, as inputting the wrong address can lead to a loss of funds. has made it extremely simple to transfer cryptocurrency between the various applications within their ecosystem. After linking the wallet, you will see the wallet as an option when withdrawing funds from the custodial application or the exchange.

The Wallet is a non-custodial wallet. This means you have complete access to your cryptocurrency. To connect it to the app means that the app will know about your various cryptocurrency addresses. This feature is meant to enhance the experience of using the entire ecosystem.

Yes. You can earn anywhere from 1-14% APY by staking your coins directly in the DeFi wallet. It’s a great way to earn passive income.

You’ll also be able to manually select the validator where you want to stake your coins. It’s worth doing a little research because you want to select a reliable validator but it’s also helpful for decentralization if you don’t just pick a top 10 (by volume) validator.

There are 5 tiers of Visa Debit cards including a free tier at the bottom. As you acquire and stake more CRO tokens, you gain access to a wider variety of perks. Some of the perks include paying for various popular subscriptions such as Spotify, Netflix, and Amazon Prime.

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About the Author

Keegan Francis

Keegan Francis is a cryptocurrency knowledge expert and consultant. He recognized the opportunity in cryptocurrency early in his career and has been invested in it since 2014. His passion led him to start the Go Full Crypto, a project that documents his journey of totally opting out of traditional financial services. Keegan has been living entirely off of cryptocurrencies since 2019.

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