Bhushan is a FinTech enthusiast and holds a good flair in understanding financial markets. His interest in economics and finance draw his attention towards the new emerging Blockchain Technology and Cryptocurrency markets. He is continuously in a learning process and keeps himself motivated by sharing his acquired knowledge. In free time he reads thriller fictions novels and sometimes explore his culinary skills.
Uniswap’s mobile wallet will allow users to swap funds on other popular DeFi platforms such as Arbiturm, Polygon, and Optimism.
Ethereum-based popular decentralized exchange (DEX) Uniswap has recently launched a mobile wallet application in a move to promote wider DeFi adoption, as well as support the on-the-go trading on the platform.
As per the April 13 announcement, the app is currently available for iOS devices in a few select countries and can be found on the Apple App store. Last month, the Uniswap team complained that Apple was blocking the app from its stores. Interestingly, in its new announcement, Uniswap noted that its mobile wallet app is “out of Apple jail and now live in most countries.”
As per Uniswap, the new wallet will allow users to swap tokens on the Polygon, Ethereum, Arbitrum, and Optimism networks. Besides, it also noted that its mobile wallet can be connected to any Ethereum app through WalletConnect.
1/ THIS IS NOT A DRILL 🔥🔥🔥
The Uniswap mobile wallet is out of Apple jail and now live in most countries 🎉✨
Download our self-custody, open-sourced app today! 👇https://t.co/yWxuw79xTY pic.twitter.com/QhK06icKBL
— Uniswap Labs 🦄 (@Uniswap) April 13, 2023
Furthermore, users can back up their accounts by either writing down their seed phrase or even encrypting their key vaults using a password and storing that in iCloud. Furthermore, Uniswap will allow users to share detailed information regarding all the non-fungible tokens (NFTs) stored within it. This includes their floor prices as well as collections.
Here’s What Uniswap’s Mobile Wallet Does
The Uniswap mobile wallet shall allow users to buy digital assets with a competitive 2.55% fiat on-ramp fee. Additionally, as said, users can swap funds on other popular DeFi platforms such as Arbitrum, Polygon, and Optimism.
The Uniswap wallet features an in-app token price along with NFT data allowing users to trace their favorite tokens and wallet addresses such that they can track the trading activity that matters the most to them.
The mobile wallet creators believe that these features will encourage users to custody their own digital assets with DeFi wallets. Usually, DeFi wallets have a greater barrier to entry than most centralized modes of buying and storing digital assets. Speaking of the development, the exchange noted:
“Too many people get stuck at the starting line. We get thousands of user support tickets from Uniswap Web App users confused by self-custody wallets. So, we’re proud to bring you a self-custodial wallet that is simple, safe, and easy to use.”
The press release states that Apple has currently approved the mobile wallet in seven countries with more countries to follow soon. To make Web3 onboarding easy, several Web3 developers have been offering mobile wallets with built-in DeFi functions. Over the last two years, other popular players like MakerDAO and 1inch have come up with their own mobile wallets.