A Review of Crypto Wallets in the Aptos Ecosystem

2022-10-27 15:45:31

Recently, the mainnet of Aptos, a public chain, founded by the Diem (formerly Facebook’s Libra project) team, has officially gone live. Based on the existing status of its community, the chain airdropped a total of 20,076,150 APT to 110,235 testnet participants, and users who met the minimum requirement could claim 150 APT. On the day of the airdrop, the APT price stood at approximately $8.5 (Trade APT), which means that the 110,235 users could get tokens worth at least $1,200 per person from the airdrop. The massive airdrop rewards offered by Aptos started a new airdrop craze in the public chain category.

 

aptos

 

Since its mainnet became officially live, Aptos has been doing well. According to Aptos Explorer, as of October 25, the Aptos mainnet has witnessed 11,927,930 transactions in total. On the whole, the mainnet has running stably, without any major accidents.

 

Aptos Explorer

 

Unlike other public chains, Aptos has been backed by an elite team that previously worked for Facebook since its very inception. In addition, the chain raised $350 million from investors, and many developers are now building applications on the network. As such, after the mainnet went live, users have access to well-established infrastructures and a large number of applications, covering DEX protocol Liquidswap, lending service provider Ditto, basic lending protocol Argo, NFT marketplace Souffl3, and decentralized domain name service Aptos Names, among others.

 

Of course, to try out these DApps, users will need an essential infrastructure: crypto wallets. Aptos uses Move, a programming language developed for the Diem project. The language differs from Solidity, which is the language adopted by EVM chains like Ethereum. For users, the most prominent difference between the two lies in contract authorization. In How Can We Prevent Excessive Contract Authorization , we discussed the contract authorization process on EVM chains in detail. On Move-built blockchains, on the other hand, users no longer need to give authorization for the Token amount before each contract interaction.

 

This approach reduces the operations required and gives the contract more permissions. However, in the event of a malicious contract, users will face an even more threatening risk in terms of their asset security. As such, when using wallets on Move-based chains, users must stay more vigilant. In this article, we will go through some of the wallets that now support Aptos and help you identify the potential risks.

 

1. Petra Wallet

Petra Aptos Wallet is a plug-in wallet based on the Chrome browser. The project is an Aptos-powered wallet created by Aptos Labs.

 

Petra Wallet now allows users to receive and send cryptos, interact with DApps on web pages, and view and use NFTs. Additionally, Petra offers simple interfaces, which help users quickly get started with the wallet.

 

Petra Wallet

 

2. Fewcha Wallet

Fewcha Wallet, a blockchain wallet developed by Apps Cyclone, now provides a plug-in version based on the Chrome browser. Fewcha is not just built for Aptos: The wallet supports two Move-based public chains: Aptos and Sui.

 

On Fewcha, users can transfer or stake tokens, and view or trade NFTs. Moreover, Fewcha lists some Aptos applications within the wallet to help users browse through projects in the ecosystem. Meanwhile, the project has also partnered up with Keystone, a hardware wallet, making it the first wallet extension to support hardware wallets in the Aptos ecosystem.

 

Fewcha Wallet

 

3. Martian Wallet

Martian Wallet, a blockchain wallet designed for Aptos, will be available on web browsers and smartphones in the future. Right now, it only features a Chrome-based plug-in.

 

At the moment, Martian is the most widely used wallet on Aptos. Moreover, it is also the wallet recommended by many Aptos-based projects. Apart from functions that include sending and receiving tokens and NFTs, Martian Wallet has also introduced some third-party purchase services and lists a large number of third-party DApps and NFT applications. Besides, the wallet also allows users to receive app messages within the wallet, enabling them to view notifications and use apps with great convenience.

 

Martian Wallet

 

4. Pontem Wallet

Pontem Wallet is an Aptos-powered wallet created by Pontem Network, a studio that builds products for Aptos. Pontem has now incubated products that include Pontem Wallet and Liquidswap. In particular, Liquidswap is the first decentralized trading platform on Aptos to support AMM.

 

In Pontem Wallet, users can send and receive tokens and NFTs, buy tokens, and connect to DApps. In terms of product design, the wallet resembles MetaMask, which is frequently used by many crypto users. As such, it is comparatively easier for users to learn how to use the wallet, and many users believe that Pontem is the best wallet on Aptos.

 

Pontem Wallet

 

5. Rise Wallet

Rise Wallet is an Aptos-based wallet developed by the team that built Solflare, a wallet on Solana. Right now, it is available on the Chrome browser as a web plug-in.

 

Available in multiple languages, Rise Wallet offers Swap to help users quickly trade cryptos, in addition to basic features such as sending and receiving tokens and NFTs.

Rise Wallet

 

Other than the above wallets, many third-party wallets now also support Aptos. Only a handful of projects could build up so many infrastructures shortly after the mainnet launch, which also indicates that both developers and investors are highly confident in Aptos. That being said, Aptos has not yet reached the high TPS it promised, and we will still need to wait and see how it evolves in the future.

 

For those of you who are interested in the Aptos ecosystem, please be careful with your asset security while trying out Aptos-based projects. As Move-built chains do not require authorization, we recommend keeping assets in multiple wallets. Moreover, users have to be careful when choosing wallets. To keep your assets safe and secure, you should also refrain from interacting with projects from unknown sources or those that failed to pass the security audit.

 

* This article is for reference only and offers no financial advice.

 

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