An Introduction to the Ctrl Wallet

Finding the right crypto wallet is hard, especially one that connects to any dapp on any chain and lets you swap easily. Crypto traders, investors, and airdrop hunters know this struggle. But there’s good news! 

An experienced self-custody wallet with a new name is here to solve this problem. Thanks to Ctrl formerly XDEFI, multi-ecosystem traders and investors can now access everything they need with ease. Let’s talk about the Ctrl wallet and what makes it different from other guys like MetaMask, Phantom, etc.

What is the Ctrl wallet, and what problem are they solving?

If you survey a hundred people and ask them about challenges with using crypto apps and wallets, their common problems would include:

• Poor user experience
• High fees/gas costs
• Privacy
• Difficulty with managing seed phrases

The list goes on and on. Poor user experience is a huge barrier to crypto reaching a wider audience. Lots of projects and crypto wallets aren’t exactly user-friendly. So, the average person finds it difficult to navigate or must cough up a lot to cover gas fees and other costs.

What if I told you there’s a wallet that offers no seed phrases, zero gas fees, and has a pretty simple interface? The Ctrl wallet offers all these along with air-tight privacy features. The wallet was recently rebranded from XDEFI to Ctrl. They’ve got a single goal, and that’s to be the main self-custody wallet for the next 100 million users. Ctrl plans to make it easy for people to onboard crypto.

There are lots of wallets on the market. So, what makes them different? First, Ctrl provides multi-ecosystem support. Think of them like OKX, and Coinbase wallets. Most self-custody wallets, like MetaMask and Phantom, thrive in a single ecosystem. For example, MetaMask and Phantom support other chains outside of EVM and Solana. But they only thrive in those areas. They don’t support Bitcoin or Cosmos. But Ctrl does. And that’s good for ease. You can interact with multiple ecosystems using the Ctrl wallet. With this wallet, you can interact with over 1,800 dapps from supporting ecosystems. That’s massive coverage.

Superb user-interface

They not only have the most coverage, but their interface is pretty solid. Anyone without any background or knowledge of crypto can use it. So, if you are just getting started on crypto, then Ctrl offers a smooth onboarding experience.

They’ve also got this Gas Tank feature. It enables users to pay for gas fees on over 30 chains from their single balance of $USDC or $XDEFI (Ctrl’s token.) With the Gas Tank feature, you no longer have to bridge or buy tokens to pay for on-chain costs. Ctrl also provides the extra benefit of being able to manage and view all your assets across different accounts on different chains from a single balance. Ctrl currently offers both mobile (in alpha testing now) and browser support. On mobile, the wallet is available on both Android and iOS. So, it caters to all levels of needs.

Ctrl also uses social login. This way, there’s no need to store your seed phrase. It uses Google or social media to provide secure authentication.

Who’s backing them?

We checked their list of backers and investors, and it was pretty impressive. We found names like

• Mr Beast
• Mechanism Capital
• CoinGecko
• PLAY
• Sandeep Nailwal (Polygon)
• Erik Voorhes (Shapeshift)
• Illia Polosukhin (Near)
• Patricio Worthalter (POAP)
• Mariano Conti (Maker DAO)
• Delphi Digital
• Morningstar Ventures
• Sino Global Capital
• Animoca Brands

The Ctrl wallet has already registered 230k users and facilitated over $100 million in volume since its integration.

Why the rebrand?

As earlier mentioned, the wallet was formerly known as XDEFI but rebranded to Ctrl. The XDEFI brand made it sound like the product was only an advanced user DeFi wallet. And that’s not true. The team’s goal is to make crypto available and accessible to anyone. So, Ctrl is open to every user. And it also competes against the top wallet providers.

The XDEFI token

The XDEFI token is Ctrl’s utility token. Users can use it for on-chain fees. In addition, XDEFI is used for governance and buybacks. You can currently get this token on Uniswap. Ctrl plans to have its mobile wallet alpha launch in August. So, early adopters can experience this wallet.

Disclaimer

The information discussed by Altcoin Buzz is not financial advice. This is for educational, entertainment, and informational purposes only. Any information or strategies are thoughts and opinions relevant to the accepted risk tolerance levels of the writer/reviewers and their risk tolerance may be different than yours. We are not responsible for any losses you may incur due to any investments directly or indirectly related to the information provided. Bitcoin and other cryptocurrencies are high-risk investments so please do your due diligence. This article was sponsored by CTRL. Copyright Altcoin Buzz Pte Ltd.

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