Can NOW Wallet pump stablecoin growth to new heights?

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Find out how NOW Wallet empowers users to seamlessly manage digital assets and access the global economy.

Cryptocurrency was born in 2008 based on the free-market ideology of its unknown founder Satoshi Nakamoto. But in recent years, the crypto market has evolved to offer something for everyone. While Bitcoin (BTC) and its high-risk and high-reward profile is front and center, not all investors are interested in holding an asset that is known to cycle through prolonged bear markets. 

As such, a growing segment of global investors are turning to stablecoins. These are digital assets pegged to traditional currencies like the US dollar. The main selling point of a stablecoin is that it acts as a secure way to store value, access digital global financial systems, and even hedge against foreign currency fluctuations.

Stablecoins now make up over 70% of all cryptocurrency trading volume, which makes them essential for providing liquidity across different markets. 

The massive size and scope of the stablecoin market illustrates its appeal. Tether (USDT), the leading stablecoin, now has a market cap above $130 billion which would be large enough to merit a coveted spot in the Dow Jones Industrial Average. As such, stablecoins represents a safe store of value, meaning it is appealing for both new and experienced crypto users.

In the third quarter of 2024 alone, Tether recorded a net profit of $2.5 billion, fueled by interest income from US Treasuries and gold holdings. This makes it clear that stablecoins are a highly profitable segment within the cryptocurrency ecosystem and will withstand the test of time in an industry otherwise known for its turbulence.

For users seeking access to this segment of the crypto industry, tools like NOW Wallet are essential. By combining advanced self-custody features with an intuitive interface, NOW Wallet empowers users to seamlessly manage their stablecoins and participate in the global economy, without the complexities of traditional finance.

Overview

• Website: https://walletnow.app
• Blockchain: Multichain (supports 70+ blockchains)
• Sector: Cryptocurrency wallets, stablecoin management, DeFi tools
• Number of tokens supported: 1,500+ 
• Business model: Non-custodial wallet with staking, swaps, and premium Pro features

What is NOW Wallet?

The widespread adoption of stablecoins and their utility is dependent on the availability of tools that make them practical and easy to use. This is where wallets like NOW Wallet come into play. By offering a range of features tailored to various crypto needs, including stablecoin management, NOW Wallet helps everyone—from crypto enthusiasts to everyday users—manage their assets effectively.

NOW Wallet stands out as a comprehensive solution for managing stablecoins and other digital assets. Developed by ChangeNOW, an instant crypto exchange service, it combines advanced functionality with a user-friendly design. 

Features

Here’s how NOW Wallet meets the needs of stablecoin users:

1. Broad multi-currency support
   NOW Wallet supports 70+ blockchains and over 1,500 tokens, including popular stablecoins like Tether (USDT), USD Coin (USDC), and Dai (DAI). This broad compatibility allows users to manage a diverse portfolio all in one place. For those dealing with niche stablecoins, NOW Wallet also lets you add custom tokens on supported EVM-compatible blockchains like Ethereum, Binance Smart Chain, and more, along with the Tron blockchain.
2. Secure cross-chain swaps
   NOW Wallet’s built-in exchange service is powered by ChangeNOW. Users can easily perform fast and secure cross-chain swaps. For example, if users hold a stablecoin like USDT on Ethereum but need to send funds via USDC on Binance Smart Chain, NOW Wallet makes the swap possible without the need for a centralized exchange.
3. Seamless fiat onboarding
   NOW Wallet makes purchasing stablecoins simple with support for over 60 fiat currencies via payment methods like Visa, Mastercard, Apple Pay, Google Pay, and bank transfers. This is perfect for newcomers entering the crypto space. It should be noted that fiat transactions are subject to the KYC verification required by NOW Wallet’s partner services.
4. Efficient customer support
   Unlike other wallet services that offer customer support only via email, which significantly increases response times, NOW Wallet’s support team is available 24/7 through an in-app live chat. Their expertise in resolving user issues has resulted in a 99% error resolution rate, as they assist with transactions even when incorrect tokens, networks, or amounts are selected.

Benefits

NOW Wallet goes beyond basic functionality to offer a range of features that simplify stablecoin management:

• Non-custodial design: Users retain full control over their private keys, ensuring maximum security.
• User-friendly interface: The wallet’s clean design makes it easy for users of all experience levels to navigate.
• Staking: Stablecoin users looking to diversify their crypto portfolios can also stake some Proof-of-Stake (PoS) assets like Tron (TRX), Solana (SOL), Cardano (ADA), and others directly within the wallet.
• DApp connectivity: NOW Wallet is integrated with WalletConnect to enable instant access to any decentralized applications on Ethereum, BSC, Polygon, Arbitrum, Optimism, Base, AVAX C-Chain, Celo, Tron, and NEAR Protocol. 

For those seeking advanced functionality, NOW Wallet offers Pro features designed to enhance the user experience. These include:

• Cashback rewards: Earn cashback on every swap.
• AML address checks: Verify wallet addresses for security and compliance.
• Personalized payment pages: Create custom web pages for receiving crypto payments.
• Unlimited crypto loans: Access instant loans and earn interest on users’ digital assets.

These tools make NOW Wallet an excellent choice for users who want more from their wallet than just storage.

Pros and cons

Some of the more notable advantages NOW Wallet boasts over its rivals include: 

• Full control over assets: Being non-custodial, users maintain complete ownership of their private keys, ensuring greater security and financial independence.
• Wide asset compatibility: Supports a broad range of assets, including 70 blockchains, 1500 tokens, and even NFTs on Ethereum and Solana.
• Easy-to-use design: The wallet is crafted to be intuitive, making it accessible for both crypto novices and seasoned users across multiple platforms.
• Built-in exchange options: Features seamless crypto-to-crypto and fiat-to-crypto exchange functionalities directly within the app.
• Robust security measures: Includes advanced safeguards like mnemonic phrase encryption, multi-layered encryption for private keys, and biometric authentication.

On the other hand, there are some drawbacks to the wallet, including: 

• Fiat conversion options: Some users will face difficulties when trying to convert lower cap coins into lesser used fiat currencies.
• Variable transaction fees: Network fees can fluctuate depending on blockchain activity and third-party providers, although the wallet itself doesn’t add extra fees.

Public review

Feedback for NOW Wallet is mostly positive across several sites. Notably, NOW Wallet holds an impressive 4.5-star rating out of 5 on Google Play Store. This is based on more than 2,360 reviews. 

On Trustpilot, the wallet has a lower rating of 2.4 stars, though this is based on a mere 21 reviews, which is a small enough sample size to skew its overall perception. Negative feedback often points to transaction delay, fees, and other factors that are influenced by external factors like blockchain network congestion or slower block confirmation times. 

These issues are not directly tied to the wallet’s functionality but rather to the nature of the blockchain networks users are interacting with. As such, the much larger number of positive ratings on the Google Play Store suggests that most users are happy with what NOW Wallet has to offer.

Conclusion

NOW Wallet plays a significant role in bringing stablecoins closer to real-world use cases. From making international payments to simplifying payroll, its features align with the practical needs of both individual and business users.

NOW Wallet is available on all major platforms, notably iOS, Android, macOS, Windows, and Linux, and makes it easy to synchronize across devices using 12- 24-word mnemonics. Its high ratings of 4.5 stars and above on mobile app stores reflect its ease of use and makes it clear NOW Wallet has built a reputation of trust among its users.

Read more: Crypto wallets can protect your personal data | Opinion

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