Rise Review: The Secure Crypto Wallet for the Aptos Blockchain
Rise is a non-custodial digital wallet that allows users to access the Aptos blockchain and its involved applications.
Non-custodial wallets are digital wallets that give you and only you control over your private keys. In that, a private key is a secret code that your wallet is going to use to verify cryptocurrency transactions when you send it from your wallet.
These keys are governed by mathematical functions that prove the funds are yours and that no one else is able to access or recover them.
With the Rise Wallet you can:
- Interact With Apps
- Manage all your NFTs in one place.
- Get the best routes for your crypto trades.
- Receive real-time updates and stay up to date with all your favorite apps and NFT collections.
Let’s take a closer look….
Rise Wallet
When you open and fund an account on a centralized exchange like Binance or Coinbase, you’re also creating a custodial wallet. In this case, you’re also trusting that the exchange will grant you access to your funds as they are in the custody of your keys.
This can also be hazardous Because exchange wallets have massive amounts of tokens under their custody, they easily become targets for bad actors.
As a result, you would lose your funds with exchange wallets. Not only that, but storing funds on an exchange is also destabilizing to the entire centralized crypto ecosystem and the legacy financial system as users lose trust in the intermediaries they have to deal with.
On the other hand, you can simply self-custody your tokens in a non-custodial digital wallet, like Rise Wallet, rather than trust the exchange to grant you access to your own property.
In order to become a next-generation non-custodial digital wallet in the cryptocurrency space, Rise Wallet has come along with a powerful web app and extension.
Rise Wallet is going to have all the best features that Solfare offers, including mobile apps on iOS and Android, an in-app browser, FTX account integration, Ledger connectivity, in-app staking, bulk send, and bulk burn.
Currently, you will find some unique features available on Rise Wallet that others don’t, including Swapping, Sending NFTs, Importing wallets, and the ability to translate into 15 languages.
Get Started with Rise Wallet
When you generate a new Rise Wallet account, you’ll receive a 12-word recovery phrase that you’ll need to safeguard. Keep in mind that don’t let anyone else see this phrase as well as ensure that you remain the only person who knows it.
If you lose your mnemonic phrase for a wallet, you will lose access to the funds in that wallet and no one can recover them for you.
In addition, if you connect your wallet to a website, or a blockchain application, or click on a link, your wallet could be drained entirely by a malicious person or robot. Therefore, you must safeguard your digital assets.
There are three things that you can do to securely store your recovery phrase:
- Write down the phrase on a piece of paper then store it in a safe and secure place.
- Make multiple copies and make sure no one else finds them.
- Copy and paste the whole mnemonic phrase, then keep it in an encrypted file or document. To be safe, you don’t forget the password to that file.
You can also download the backup under the mnemonic phrase via the link and store this file somewhere offline.
For somewhere online, you can use an encrypted storage service like NordLocker. You can also encrypt the downloaded file and don’t forget the password to that file.
If you intend to use your wallet for multiple purposes, it’s recommended that you should set up multiple wallets.
Digital wallets like Rise Wallet are what connect you to blockchains and Web3.
If the country you live in has a failing currency and experiences consistent bank runs, you even think of storing stablecoins like USDC that retain value without being infringed by intermediaries like regional banks or brokers who are untrustworthy.
You can integrate Rise Wallet into your app by using the Aptos Wallet Adapter or without it. In addition, you can set up an Aptos Profile Picture Protocol (APP). As such, Aptos users can set a single Token-standard NFT as their universal PFP in the Aptos ecosystem.
The APP aims to enhance the personalization and sense of identity in Aptos apps, improve the user experience when sending transactions, and serve as an additional layer of security and assurance that the correct recipient is chosen from the address book. You can clear your PFP from your own front end as well.
To date, Rise Wallet is active on Devnet. The Rise Wallet’s active features are set in the extension, including Activity Tab, Address Book, Fullscreen Capability, Trusted App Management, NFT Profile Picture Protocol, Simple Account Management, and Sophisticated Notification Systems.
Why is Rise Wallet Benefits
As said, Rise Wallet is built on the Aptos blockchain, which is a safe, scalable, and upgradeable Web3 infrastructure.
Although blockchains have risen as new internet infrastructure, blockchain usage is not yet ubiquitous due to frequent outages, high costs, low throughput limits, and numerous security concerns.
The Aptos blockchain is designed to follow the path of cloud infrastructure as a trusted, scalable, cost-efficient, and continually improving platform for building widely-used applications.
- Developed over the past three years by over 350+ developers across the globe, Aptos offers new and novel innovations in consensus, smart contract design, system security, performance, and decentralization.
- As a result, the blockchain can bring Web3 to the masses. Not only that, Rise Wallet gives its users a worthwhile journey of self-custody.
- Self-custody is one of the immensely powerful, cryptographically secure ways to manage your assets without involving an intermediary and you can do so with non-custodial wallets like Rise Wallet.
- Because a Rise wallet removes the need for an intermediary like an exchange, you can use it for many purposes, of course, as a decentralized bank or investment account.
- Assets within Rise Wallet remain on a blockchain at all times and only you will have access to the assets within it through the use of public key-private key cryptography and mnemonic phrases.
- Rise Wallet is one of a set of on-chain financial products that securely allow users to manage digital assets on the world’s highest-performing blockchains developed by Solrise Finance, also known as the parent company of Solflare Wallet.
Conclusion
It cannot be denied that the future of the Web3 era needs fast, efficient, secure, and scalable blockchains that can facilitate digital economies at a global level.
Non-custodial wallets like Rise Wallet give you access to the wonderful world of DeFi where you can participate in cutting-edge financial services as well as NFT.
As the most powerful non-custodial wallet on the Aptos blockchain, Rise Wallet enables a level of freedom that has not existed before. As a result, you are always the one in control of your capital while it’s in your wallet.
The post Rise Review: The Secure Crypto Wallet for the Aptos Blockchain appeared first on Blockonomi.
OhNoCryptocurrency via https://www.ohnocrypto.com/ @Nicholas Say, @Khareem Sudlow