WavesWallet wallet review

WavesWallet
Intuitive Ease of use,  Average Privacy,  User Private Keys Stored

WavesWallet is a decentralised exchange platform where users can issue their own tokens and instantly trade multiple currencies without any limits. On their website the user can access his online wallet or he can enter https://wavesplatform.com/ to download a desktop client. A Google Chrome extension and an IOS app are also available.

Waves is primarily designed to build customer loyalty tokens but they have built a wallet and exchange platform to allow users to exchange the tokens they create. You can fill your account with BTC, ETH, USD, or EUR and then buy and trade tokens. It is available online at waveswallet.io, through a chrome extension or as a mobile app.

Company / organization behind the wallets

The Waves Platform was founded in 2016 by the physicist Sasha Ivanov. His purpose was to "reinvent the DNA of entrepreneurship around the world". The team consists of 34 people working in the Moscow headquarters.

Crypto Currencies Support

Traditional Currency Support

  • Euros (EUR)
  • US Dollar (USD)

Language Support

  • English
  • Russian

Supported Systems

  • Android
  • iOS

Waves wallet lacks a considerable amount of security features. Your seed is kept and encrypted on your phone and temporarily 'unlocked when you sign a transaction' They also use pin protection instead of a password for easy access but it also means that it is easier to break in. They say they have plans to improve security but time will tell.

Summary:

Security
Low
2 Factor Authentication
No
Multi-Signature
No
Private Keys Stored On
User
Storage Type
Hot storage
Transactions Validation
Centralized validation
Hierarchical Deterministic
No

What happens in the event of a disaster/theft/loss?

The user has a 'root key', 'recovery phrase' or 'word seed' that can be used to regenerate private keys.

Waveswallet has an easy-to-use interface and can be accessed from different clients or devices. It's designed for all consumers and offers multiple functions. Assets and tokens can be easily traded with low transaction fees and several national currencies are supported. They offer a fast and active customer service.

Summary:

Overall, Wavewallet is a multi-currency trade platform where anyone can instantly trade their assets. They have a low security level and encounter some issues regarding fake coins transactions. They recommend their users to buy only the green ticked currencies as those are verified by their team. The platform is primarily to trade small tokens created through their platform.

Ease of use
Intuitive
Suitable For
Millennials
Account activation process
Simple
Transaction fees
Dynamic Transaction fees
Setup fee
$0.00

Functionality:

  • Buy coins using bank account
  • Exchange coins crypto to crypto
  • Withdrawal funds to bank account

Waves is primarily designed to build customer loyalty tokens but they have built a wallet and exchange platform to allow users to exchange the tokens they create. You can fill your account with BTC, ETH, USD, or EUR and then buy and trade tokens. It is available online at waveswallet.io, through a chrome extension or as a mobile app.

The wallet platform has built the exchange function in their own software and manages it locally.

Help and
support:

  • FAQ section
  • Contact form
  • Email

Personal information for activation account:

  • Name
  • Passport/ID

Most common
customer complaint:

counterfeit coins are being created on the platform