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Guarda Wallet Review: Best Light Wallet?
Guarda Wallet is intended to be an all-in-one, non-custodial storage solution for those who are interested in storing a variety of different crypto assets. The Guarda Wallet can be accessed from any device, and it allows users to trade between different cryptocurrencies within the software interface. Users can even purchase Bitcoin and other cryptocurrencies with traditional fiat currency via the wallet’s integration with Simplex. Guarda offers services for nearly every aspect of the cryptocurrency ecosystem, including the ability to create one’s own ERC-20 tokens.
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- Integration with Ledger hardware wallets
- Ability to trade between cryptocurrencies within the wallet interface
- Support for 60 cryptocurrencies and 400,000 tokens
- Ability to create your own ERC-20 token
Meet Our Reviewing Team
Pros & Cons
Pros
Can use Ledger hardware wallets with the Guarda Wallet
Ability to trade between different coins and tokens from within the wallet software
Ability to buy more cryptocurrency with dollars or euros (or other fiat currencies) from within the app
Store all of your different crypto assets in one wallet
Cons
Guarda Wallet is a light wallet, which means users are not running full nodes with this software
The fees associated with purchasing cryptocurrency via the Simplex integration are higher than other available options
No support for TREZOR or KeepKey hardware wallets
Best Features
Guarda Wallet’s best feature is the amount of different cryptocurrencies and crypto tokens that are supported by the platform. Their main goal with their crypto wallet offering is to support as many different crypto assets as possible. This way, their users are able to store all of their crypto holdings in one piece of software.
The integration with Ledger devices also allows users to make sure that all of their crypto assets are stored in an extremely secure manner, where the private keys associated with their crypto holdings cannot be accessed by a hacker from a remote location.
Finally, the ability to purchase more cryptocurrency via the wallet and even trade between different crypto coins makes this wallet a one-stop-shop for all of a user’s cryptocurrency activites.
What Cryptocurrencies are Supported?
Guarda Wallet contains support for 60 different blockchains and the tokens that are issued on those blockchains. Additionally, Guarda Wallet currently supports more than 400,000 different crypto tokens that have been issued by various projects over the years. If there is a crypto asset you want to own, then there’s a high probability that their wallet supports it.
Here are some of the more popular cryptocurrencies supported by Guarda Wallet:
- Bitcoin
- Bitcoin Cash
- Litecoin
- Binance Coin
- Ripple
- Tezos
- Dash
- Cosmos
- Ethereum
- Decred
- Dogecoin
- Monero
- Zcash
- NEO
- Ethereum Classic
Is Guarda Wallet Safe?
There are two main areas of security to think about when it comes to the Guarda Wallet.
First, the fact that you can use your Ledger devices with Guarda Wallet is a big win for security. Your private keys will not be stored by Guarda Wallet or even your own computer, which means it becomes much more difficult for an attacker to gain access to your cryptocurrency funds.
On the other hand, Guarda Wallet is a light wallet, which means your computer is not fully verifying that all of the rules of the various cryptocurrency networks supported by the wallet. In other words, you aren’t really using cryptocurrency in the trust-less manner that it was originally intended.
Supported Operating Systems
The availability of Guarda Wallet via the web means that it can be used on any device that has a web browser. However, there are also various versions of the wallet that can be downloaded on any desktop or mobile computing environment. There is also a Chrome extension that will integrate your wallet with your web browser.
Potential Dealbreakers
Guarda Wallet is a pretty well-rounded option for any cryptocurrency enthusiast, so it can be difficult to find dealbreakers that would make this a poor option for a particular user.
Having said that, those of you who are mostly focused on Bitcoin rather than a large variety of different altcoins will probably want to look somewhere else. The large amount of support for altcoins in this wallet can be cumbersome if you’re someone who just wants to store their Bitcoin. And if you’re someone who is only interested in Bitcoin, then you may as well run a full node that will also allow you to enjoy other Bitcoin-focused features such as CoinJoin and the Lightning Network.
The only other potential problem to think about when it comes to Guarda Wallet is hardware wallets. If you have a TREZOR or KeepKey device, then you will need to use different software because these hardware wallets are not supported by Guarda Wallet.
Guarda Frequently Asked Questions
Yes, Guarda Wallet is a legitimate piece of cryptocurrency wallet software. The company behind this product has been working in the cryptocurrency space since 2017.
Yes, Guarda Wallet uses the Ledger API to allow users to connect their Ledger devices to the Guarda Wallet. It is highly recommended that you take advantage of this integration, as your internet-connected device should not be used to store large amounts of cryptocurrency that could potentially be stolen by malicious hackers.
According to the official Guarda Wallet website, GUARDACO LDA is the company behind the cryptocurrency wallet.
Guarda has existed since 2017. The first version of the wallet only included support for Ethereum.
Most cryptocurrency companies are not based in one single location due to the digital nature of their business. GUARDACO LDA, which is the company behind the Guarda Wallet, has a registered office in Portugal. The company is also authorized to offer cryptocurrency trading services by Portuguese financial authorities.
There have been no reports of Guarda Wallet bugs leading to widespread hacking of the software’s users. However, users need to remember that they are in full control of their own money in the cryptocurrency world, which means they are responsible for keeping their own private keys secure from hackers.
Guarda Wallet has offered a number of different bug bounties for potential flaws in various crypto asset integrations over the years.
Guarda Wallet can be downloaded or accessed via your web browser at no cost. The software is completely free; however, there are fees involved with buying and selling cryptocurrencies from within the app.
