Ambire wallet, first time visiting the official website, this is a non-custodial wallet with email authentication. This is a wallet designed for DeFi cryptocurrencies on the DeFi multichain. Available on Ethereum, Polygon, Avalanche, and BSC. Combines power and ease of use.
This Ambire wallet has a native token with the ticker symbol $WALLET, which was first publicly sold through the Huobi Primelist public sale event on Saturday, January 29, 2022, 10:00 (UTC) with a preferential 0.03 USDT price.
Price $WALLET at the time of writing $0.1412, this is down from an initial $0.3 sale, with a market cap of $3,054,532, 24-hour volume of $104,290 at #4335 Coinmarketcap.
Contents
What is the Ambire Wallet?
Ambire wallet is the next generation wallet for web3, which focuses on Defi and EVM. This is a web-based wallet, but not an extension browser wallet.
Unlike Metamask, which requires installing an extension in the browser, Ambire wallet doesn’t need to install an extension, which is a potential security issue.
Ambire wallet is a smart wallet that in theory can communicate with all Dapps. However, some may be incompatible due to a Bug or it was made with limitations.
Some Dapps are not supported by Ambire wallet, including OpenSea, Looksrare.org, MyEtherWallet, Loopring, dYdX, zkSwap, Pangolin, Snapshot, Collab. land, Avalanche Bridge.
This smart wallet is designed easy for novice users, to interact with Dapps on a multi-blockchain network. Various features are embedded in it. Low fees, buy crypto directly with a fiat currency. Transfer funds, manage portfolios in one wallet.
How Do Ambire Wallet works?
Ambire wallet is different from other crypto wallets, where it uses email and password authentication like a web2 application. So it’s not necessary to write a sheet phrase like most crypto wallets. But using email as authentication.
Ambire wallet is a non-custodial wallet that works with multisig 2/2 on-chain. Where one key is stored in the web browser storage and encrypted with the user’s password, and the other key is stored in the HSM (hardware security module) in Ambire backend.
This method requires two keys to access the funds. Users cannot access funds using only one key. So for example an attacker can get one key, they can’t access funds, because this requires two keys at once.
If the user loses any of the keys, they can perform a recovery procedure that can be started with only one key. If an attacker tries recovery procedure with one key, the other key holder can cancel it. You can only wait for the lock time before you have access to your account if you lose any of the keys.
There are various features in the Ambire wallet, one of which is that it can be integrated with various Dapps projects, but to enable it, you need to use Walletconnect where users must register first.
Ambire wallet Founder
Ivo Georgiev is the CEO and founder of Ambire wallet. He is a programmer who has launched several products, including a Linux game distro, as well as the AdEx Network, the first network on the Ethereum blockchain.
Over six months Ivo and the team developed the Ambire wallet, and in beta testing, it worked with 5000 users. Experience in AdEx Platform, make him confident and develop non-custodial wallet as an open-source project.
When Ambire Wallet launched?
After successfully passing beta testing. Finally, Ambire wallet launch officially on December 16th, 2021. In the first week after its launch, Ambire wallet successfully attracted 18,000 users, and so far has more than 18 million in wallet accounts.
Community
On Coinmarketcap Ambire wallet is a watchlist of 914 watchlists. And the Ambire community is available on Twitter, Reddit, Telegram, GitHub, and Discord platforms.
The Ambire wallet in the Reddit community became one with the Adex community in the sub-forum Ambire (formerly AdEx Network). This community was created on May 31, 2017, with a current membership count of 4.1k. Users can follow the latest news about Ambire wallet shared by the team regarding its relationship with Ambire wallet.
Telegram
The Ambire wallet community on Telegram has over 18 thousand members, there are many online members, an average of 400 people discussing in the crowd community. Join the channel.
Ambire wallet community on Twitter, the team create a page in May 2021 with the current number of followers reaching 3.4k followers. Visit Ambire wallet in Twitter. The Ambire wallet community can follow the latest developments from the team which is useful to see the development progress.
Medium
In addition, the Ambire wallet community is also available on the Medium blog, which can be a source of information all about Ambire wallet. Important articles on Ambire wallet posts are written in an easy-to-understand manner. Visit Ambire wallet on Medium.
Ambire wallet fees
Ambire wallet fees also depend on the complexity of the Ethereum network, it allows high fees when a congested network requires more gas fees. To optimize fees, the team gives the recommendation to combine multiple actions in one transaction.
In addition to that method to optimize fee transactions, Ambire wallet uses Smart adjusting of gas price parameters and uses Flashbots for private transactions.
Ambire wallet token
Ambire wallet creates a native $WALLET token which is an ERC-20. They launch tokens on the Ethereum blockchain. It will later be bridged with the Binance Smart Chain and Polygon blockchains.
The $WALLET token will be useful for the governance of the Ambire wallet protocol through WalletDAO. Where on the roadmap schedule in the 3rd quarter of 2022.
Besides being useful for network governance, $WALLET will also have utility for community rewards including in the airdrop program.
The maximum supply of $WALLET is 1 billion, detail distributions:
- Initial support with 1-year linear vesting is 12.7%.
- Team Ambire with 10% linear 3-year vesting.
- $ADX stakers, distributed over 18 months as an additional staking reward is 10%.
- Early Ambire Wallet users and stakers, distributed over 4 years at 30%.
- WalletDAO it’s ~35%.
- Initial liquidity and marketing activity: a total of 6 million (0.6%) for the initial public sale on Huobi of ~2%.
The airdrop program will still run until 2024, in a different way from other airdrop models. This is simply by moving the asset in the Ambire wallet and it will calculate proportionally for the airdrop reward earned. The larger the asset stored in the wallet, the higher the airdrop reward will be.
Ambire wallet extension
Indeed Ambire wallet is a browser-based wallet application, but this user does not need to install an extension like Metamask which must install an extension in the browser.
Users only visit the web wallet address at wallet.ambire.com. Although this is a web wallet, the Ambire wallet also does not collect cookies. And there is no personal data privacy except the email address for logging in. Even though they collect emails, Ambire promises security storage in a GDPR compliance database.
However, users can log in using Metamask, Trezor, Ledger, etc wallets. If you log in with Metamask, you only need to give access permission to connect with the login password on Metamask. It is a simple and easy process because it is a smart wallet.
Ambire wallet download
There is no download page for Ambire wallet, as explained earlier, it is a browser-based wallet application, but without the need to install any extensions. Users who want to interact with Dapps, use WalletConnect as a bridge.
WalletConnect is an open protocol for connecting Dapps to wallets. To get started with WalletConnect just go to the official website, then register with an email address if you haven’t already created an account. Although WalletConnect emphasizes mobile wallets it also supports desktop wallets.
Connecting Ambire wallet to Dapps
To start connecting your Ambire wallet with Dapps, the Firefox browser will automatically detect available Dapps.
While the manual method is to go to the Dapss project then Connect the wallet by selecting WalletConnect. It will bring up a QR code or a selection of wallets including the Ambire wallet. If using the desktop option click on the corresponding wallet and the wallet connects to Dapps.
On some Dapps projects like OpenSea.io, you may get a notification that the Ambire wallet is not fully a smart wallet. However, you can continue perhaps with some risks.
Ambire wallet airdrop
They use an airdrop method called early-user continuous airdrop, where users only need to have assets in their wallet, with a minimum of $10 as long as that value remains in the top 50k balance in the Ambire wallet.
But Airdrops are not eligible for NFTs and assets with low liquidity. The airdrop reward mechanism takes from your account balance in all networks that connect. Currently, the network supports Ethereum, Polygon, BSC, Avalanche, and Fantom.
The airdrop program will run for four years. Approximately distributing to community 300M$ WALLET tokens, of which in the first year it is 7.5% and in the next 3 years, it is 4%.
Ambire wallet price prediction
The price of $WALLET tends to decline in recent days. At the moment the price has fallen at $0.1274, the WALLET token already on the list in some exchanges, by some forecasting sites will rise for a few next years.
DigitalCoinPrice predicts $WALLET price will increase gradually from 2022 at $0.18 with an average increase of $0.02 over the next year. Which in 2031 price prediction will be $0.68.
CoinArbitrageBot forecasts. The price of $WALLET in 2022 to hit $0.14005, then to go up $0.27192 in 2023. To be higher in 2024 at $0.43997, and to be up $0.71887 in 2025.
CryptoPricePrediction forecasts. The price of $WALLET in 2022 at an average price of $0.16 to $0.17 by the end of the year. 2023 forecast to $0.25 by year-end, 2024 forecast to $0.30 with a high of $0.38. The 2025 forecast reaches $0.33 with a high of $0.41. 2026 forecast to $0.35 with a high of $0.44.
CoinCodex predicts the price of WALLET will tend to decline based on a technical analysis approach with indicators. It will be predict in March 2022 only at $0.13. Further developments in WALLET prices will correlate with the growth of the Internet and large companies such as Google, Facebook and mobile.
Final thought
Ambire wallet is a smart wallet that might become a competitor to Metamask that has multiple functions. Both for transferring funds, as well as interacting with Dapps projects in several supported blockchain networks.
However Ambire wallet is still quite new. Launching WALLET barely on January 29, 2022, at the Huobi Primelist event. This wallet still does not have all Dapps support. Like in OpenSea detect to be not fully a smart wallet. And still needs further development by the team.
Note: this article is informational only and does not constitute investment advice, forex CFDs and crypto assets are risky. Each investor is responsible for their investment.
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