Pros
ConsWebAuth Wallet Overview
| Supported Systems | Fees | Supported Tokens | Trading | Staking | Availability |
|---|---|---|---|---|---|
| Android, iOS | Zero transfer fees Blockchain fees required when transferring crypto onto and out of the XPR network | Bitcoin, Ethereum, Litecoin, Solana, Polygon, many more! | Seamless connection to native, decentralized exchange with swaps and other services | Available in over 160 countries, including the U.S. | Available in over 160 countries, including the U.S. |
What Is WebAuth Wallet?
WebAuth wallet is a mobile cryptocurrency wallet that allows holding many of the more popular crypto tokens in one place, regardless of their native blockchain. Built on the XPR Network, which was formerly known as Proton, the WebAuth wallet was created specifically to take advantage of the trading and financial focus of the XPR blockchain, which supports instant transactions with zero gas fees.
Utilizing wrapped tokens on the XPR network, the WebAuth Wallet allows deposits of Bitcoin, Ethereum, Solana, Stellar, Dogecoin, and many more cryptocurrencies from a wide variety of blockchains. These wrapped tokens let the WebAuth wallet make sending, receiving, and trading with cryptos an easy and free experience.
With a linked trading service known as Metal X, users of the WebAuth Wallet can take advantage of those zero-fee transactions while trading, staking, and swapping their crypto all in one place.
WebAuth Wallet Key Features
The WebAuth Wallet wants to be the wallet that does everything. And while they may not be quite there yet, they have already made a good start! Here are some of the key features of this multi-chain crypto wallet.
- Supports many different currencies.The WebAuth wallet accepts a number of currencies from across different blockchains, including Bitcoin, Ethereum, Ripple, Solana, and dozens more.
- No gas fees. Transfers and trades within the XPR network have no gas fees.
- Offers easy access to trading and DeFi activities.Though not directly in-app, the WebAuth wallet does link directly into Metal X, where users can trade, stake in farms and pools, and trade crypto.
- Simple user addresses.Unlike most wallets, addresses for the WebAuth wallets are just simple text names. Any token on the XPR network can be transferred using the same name address, regardless of its original blockchain.
- Includes support for biometric security. If your device has support for biometric security, you can tie that into your WebAuth wallet as well, providing an extra layer of security to your crypto wallet.
- In-wallet staking for XPR token. Users holding XPR tokens can stake, vote, and claim rewards all through the WebAuth wallet without needing to move their tokens.
- Token swapping. With on-chain support for cryptos across many blockchains, WebAuth wallet is an option for easily moving value between blockchains.
WebAuth Wallet Fees
The WebAuth Wallet doesn’t charge any fees for sending or receiving crypto within the XPR network.
However, users will need to pay gas fees to transfer crypto into and out of the WebAuth wallet, but that’s based on whatever network fees are charged by the blockchain where the tokens are coming from or being sent. Once your crypto is in the WebAuth wallet, all transfers within the XPR network are completely free of charge!
You will also need to pay any fees charged by the other platforms you use (such as trading fees), but moving your crypto around on the XPR network is free with the WebAuth Wallet. This includes sending it to other accounts.
Our Expert Review Of WebAuth Wallet
The WebAuth wallet offers a lot of nice features, especially for users looking for one wallet to help them manage their crypto across several different blockchains. Installation and setup are stress-free. To start a new wallet, you just need to create an account name, which will also function as your wallet address, save your seed phrase, pick a PIN number, and verify your email address.
WebAuth is available in over 160 countries, including the U.S. The WebAuth Wallet team has also gone out of their way to work on complying with any and all state-specific regulations, making sure that their wallet is available to as many people as possible.
With the number of blockchains continuing to grow and many of them gaining steam in regard to development and utility, having a single wallet to manage tokens across multiple chains is an increasingly useful feature. The WebAuth wallet supports deposits and withdrawals across a number of blockchains.
However, the need to first transfer your tokens onto the XPR network is kind of awkward and not something that everyone will be willing to do. Add a required KYC process on top of that, and the WebAuth wallet may push away many old-school crypto users.
And though it’s not directly in-app, the integrated Metal X dex makes crypto trading and staking a simple process, all in one spot.
Interface
The interface for WbeAuth Wallet is simple and easy to understand. It includes information about the crypto in your wallet, as well as current prices for all supported cryptocurrencies.
Information on the current market state, swaps, trades, sending and receiving are all only a click away. All of the screens are clean, easy to read, and easy to navigate.
KYC Process
In order to really get started with WebAuth Wallet, you will need to complete a KYC or Know Your Customer process.
Having your identity verified requires connecting to an external site and taking photos of your driver’s license or passport as well as entering your home address. I was unable to get this process to work using the Brave Browser, even with the shields down. But once I switched to Chrome, the process was pretty smooth overall.
The KYC access comes in two stages. The first stage opens up deposits from external wallets, which is pretty much required unless you already have someone sending you wrapped tokens on the XPR network. Verification in this first stage can take up to 24 hours.
Then, if you want to go a step further, you can provide your Social Security Number, which allows for purchases with fiat and provides access to the loan feature.
Installation
Installation of the WebAuth wallet was an easy and smooth process. The app can be found and installed from the Apple Store and Google Play Store. You will need to let your mobile browser access your camera while verifying your identity.
Sending And Receiving Crypto
Sending and receiving crypto with the WebAuth wallet is simple as well. And with text-based wallet addresses, there is no need to copy and paste a bunch of long, difficult-to-memorize address strings. You can send any of the supported tokens to another user using just one text address.
Trading
WebAuth Wallet connects to Meta lX, the native app that is a one-stop shop for all trading. This includes a decentralized exchange with a dozen trading pairs, a swap feature for all of the wrapped tokens on the network, liquidity pools, farms, an asset bridge, a fiat on-ramp, and even a section for OTC trades! The interface for all of these features looks great, and the functions are easy to use.
Customer Service
WebAuth wallet offers a searchable knowledge center and customer service via email. Customer service was very responsive to my email inquiry, responding within about 10 minutes.
Who’s WebAuth Wallet For?
- People who want to trade crypto often.With no extra charges for using the native XPR network.
- People who want to keep all of their crypto in one place without using an exchange.Normally, you would need all sorts of wallets and addresses to store crypto from different blockchains. WebAuth wallet lets you keep everything in one central location while still giving you complete control over your crypto.
- People who want to have one place to trade crypto.Falling somewhere between a centralized exchange and a decentralized trading service, WebAuth wallet and the Metal exchange allow the trading of a large number of different cryptos in one place.
- Swapping value between blockchains. With in-app swaps for all of their supported cryptos, the WebAuth wallet provides a convenient spot to move value between blockchains with one simple swap.
Who’s It Not For?
- People who value privacy.Using the WebAuth wallet in any meaningful manner requires going through a KYC process and verifying your identity. If you’re looking for anonymous or private transactions, then this is not the place for you.
- People who use their crypto regularly.If you use your crypto for doing things (buying NFTs, interacting with the blockchain, etc), then you will want to keep your crypto on its native chain. Since using the WebAuth wallet requires transferring your crypto onto the XPR network and receiving wrapped tokens in return, you’ll have to transfer your crypto back to use it for anything other than trading.
WebAuth Wallet Alternatives
Now, of course, WebAuth wallet is not the only option for crypto wallets. Two of the most popular, Exodus and Metamask, each offer a slightly different experience from WebAuth wallet. Let’s do a side-by-side comparison to see some of the similarities and differences.
WebAuth Wallet Vs. Exodus
Another popular multi-chain wallet is Exodus. Both Exodus and WebAuth support multiple blockchains, allow cross-chain swaps, and support fiat purchases. Both are also non-custodial wallets, giving you complete control over your private keys and full access to your crypto.
| Supported Systems | Blockchains supported | Additional fees | Fiat options | Trading options | |
|---|---|---|---|---|---|
| WebAuth Wallet | iOS, Android | Bitcoin, Ethereum, Stellar, Litecoin, Solana, and more | No fees for transfers | Credit / debit card | Swaps, dex, pools, farms, and OTC trades all supported through Metal X |
| Exodus Wallet | Chrome extension | 15+ Networks including Ethereum, Solana, BSC | No transfers; small fee for swaps | credit/debit card, bank account, Apple Pay, or Google Pay | In-app swaps through third parties |
WebAuth Wallet Vs. MetaMask
One of the most popular crypto wallets of all is MetaMask, a longtime contender that has expanded over the years to include additional features and chain support. MetaMask can access a wide variety of blockchains, but it doesn’t allow you to commingle funds from different chains, and it doesn’t support swaps with tokens across different chains. MetaMask is also a non-custodial wallet.
| Supported Systems | Blockchains supported | Additional fees | Fiat options | Trading options | |
|---|---|---|---|---|---|
| WebAuth Wallet | iOS, Android | Including Bitcoin, Ethereum, Stellar, Litecoin, Solana, and more | No fees for transfers | Credit / debit card | Swaps, dex, pools, farms, and OTC trades all supported through Metal X |
| MetaMask | Chrome extension | Ethereum, Polygon, Arbitrum, Binance | Blockchain fees when making transfers; | Credit / debit card, PayPal, bank transfer, wire transfer | In-app swaps through third parties through 3rd party services; cash out with PayPal |
Is WebAuth Wallet Safe To Use?
Safety is of paramount importance for anyone’s finances. And unfortunately, it’s impossible to give a definitive guarantee of safety for any product. But there are some factors you can take into account to mitigate your risk. This includes not only the security claims from the product team but also the company’s history and their regard in the general community.
WebAuth wallet uses the standard 12-word keyphrase when creating new accounts. These keywords are vital! Don’t lose them, and don’t ever give them to anyone else! WebAuth wallet also supports device biometrics such as fingerprint or facial recognition authorization. If you have them turned on for your mobile device, then you can also enable the biometrics for WebAuth through the wallet settings.
Now, of course, none of this security matters if you can’t trust the creators of the app. So here’s a little more information about Metallicus, the creators of the WebAuth wallet, and the entire XPR network.
Who Are The WebAuth Wallet Founders?
WebAuth Wallet was developed and run by a group called Metallicus, which was founded by Marshall Hayner and Glenn Mariën.
Marshall Hayner has been involved with several crypto-related projects, including Stellar and the creation of the first Facebook Bitcoin wallet. He is also a board member of the Dogecoin Foundation.
Glenn Mariën, a full-stack developer, also worked on Dogecoin, creating Dogechain.info, the first online wallet for Dogecoin.
Where Is Metallicus Headquartered?
Metallicus, creator of the WebAuth wallet, was founded in 2016 and is headquartered in San Francisco, California, United States.
What Have Metallicus Done and Who Else Is On The Team?
With a focus on bringing the financial future to the blockchain, Metallicus has built a large team of experienced professionals, including an advisory board of banking executives and former governmental leaders.
Metallicus is the organization behind the XPR network itself, as well as MetalPay, a fiat on-ramp, Metal X, an all-in-one decentralized exchange and financial hub, and the WebAuth wallet.
Final Thoughts On WebAuth Wallet
Multi-chain wallets are increasingly common these days. In fact, they likely outnumber single-chain wallets at this point! The WebAuth Wallet looks to claim its spot among this next generation of wallets. Their blockchain support is on par with their competitors, and the app is as simple and easy to use as anything else on the market.
Their ability to offer zero-fee transfers and simple swaps between blockchains is certainly an appealing feature. But the requirement to bridge all of your assets over first and the need to participate in a KYC process before you can really get started may be unappealing for some users.
With WebAuth Wallet’s support for a number of different blockchains, an integrated financial system that supports pretty much all of your trading needs, and the ability to easily swap between different cryptos, WebAuth will certainly be an attractive option for many users.
Frequently Asked Questions
XPR Network is a layer 1 blockchain that was formerly known as Proton Chain. After a rebranding in 2020, XPR Network has built itself as a blockchain geared for heavy financial use, supporting zero-fee transfers and up to 4000 transactions per second. They have also worked on making themselvesISO2022compliant, a requirement for any serious financial business.
Not directly. But you can use Metal Pay, another app by Metallicus that allows crypto purchases with credit and debit cards. Purchases through Metal Pay can be automatically deposited into your WebAuth wallet for no extra fee.
In order to deposit crypto from outside of the XPR network with the WebAuth wallet you will have to first complete the KYC process. Then you can use the bridge to bring any of the supported tokens in, where they will be converted to wrapped ‘X’ tokens. You can then freely move, trade, swap, and stake these Xtokens with the WebAuth wallet.
In order to swap crypto with the WebAuth wallet you will have to first complete the KYC process. Once that’s done you can use the swap feature to directly swap between any of the supported cryptos that are in your WebAuth wallet.
