Our opinion on the Argent app: The best of Ethereum and DeFi

If the application did not exist, it would have to be invented, at least in theory. Imagine an app that allows you to replace alphanumeric addresses with simple words. Imagine an app that removes private keys and transaction fees between members. There you go, now you can better understand what theMoney app.

This can be a great alternative to MetaMask wallet for example or that of MyEtherWallet. You will see that you will be able to have a much greater choice of possibilities.

What we're going to ask ourselves in this article is whether the Argent app is really worth all the praise it's receiving. We will therefore see how it works in practice and see how it can suit you.

Presentation of Argent: An app to facilitate access to Ethereum and DeFi

Argent made its appearance in 2018, raising $12 million with the investment fund P. The Money app was eagerly awaited. And, today, in 2021, it is one of the most complete apps that exist.

We had never seen this before and we didn't know that we could one day reduce and replace crypto addresses that were impossible to remember.

Right away, by its principle, Argent aims to be simple to use.

You know, this is not trivial because many people do not dare to take the plunge with Ethereum. Yes, many find it a bit complicated at first.

And, I remind you here that the big obstacle to mass adoption was the fact that for a long time, it was a little complicated to obtain cryptos. I'm talking about the time before sites like BitPanda etc. In the early days of cryptos, you had to download a wallet, register your keys, etc. It could repel the novice.

In fact, wanting to tackle this small problem was already a laudable objective on the part of the company.

The goal is therefore to facilitate access to Ethereum on the one hand and to DeFi on the other.

What is special about Silver wallet?

In fact, it is a wallet that is called “non-custodial”. Remember that a so-called custodial wallet is the platform you use that owns your private keys. Whereas a non-custodial wallet is therefore a wallet in which you are the master of your keys. This is very important to know when you choose tobuy bitcoin or whatever, it's good to know.

So, as it is a non-custodial wallet, it is up to you to memorize your keys. And the good news is that it's easy to remember!

We still have alphanumeric addresses but these are replaced by words. Instead of having a long address made up of numbers and letters you will have for example: yourname.money.xyz

Why is the Argent app so popular with crypto holders?

The advantages are numerous and the first would be the possibility of quickly memorizing your address. So, if you need to send money to a relative/friend or someone else, using Argent, there will be no fees.

In addition, the app is very easy to use and the minimalist design makes navigation easy. Each option is explained and even a beginner can easily find their way around.

What is practical about Argent is that it suits all profiles. As much as a beginner who simply wants to buy, sell and exchange tokens will be able to do so easily. Likewise, an experienced crypto-holder will be able to take advantage of this to use more advanced services.

What DeFi services can you use on Argent?

If the Argent app is so successful, it is not so much because it is simple to use as because it allows us to access DeFi simply.

The Money app supports dozens of different Dapps. Yes, the app is integrated with a variety of decentralized finance protocols.

The Argent app regularly adds new protocols. Here are the Dapps that can be found on Argent:

Aave (and Aave V2)
Token exchange
Compound
Year V1 Vaults
Uniswap V2 liquidity
Balancer
Robo TokenSets
Social TokensSets
PoolTogether V2
Dai savings rate

These applications of the DeFi allow you to do many things with your Ethereum assets. You can participate in decentralized lending or liquidity protocols for example. This allows you to earn interest, among other things.

What tokens can you use on Argent?

The assets supported on the Argent app are ERC20 and ERC721 tokens. ERC1155 tokens are not supported for example.

In fact, Argent was really designed for use with Ethereum. We can send more than 250 ERC 000 tokens which are accessible and usable on the network. Given this wide range, we find the most popular assets there as well as DeFi tokens for example.

How to register on Argent?

It is very simple. All you need to do is first download the application on your smartphone. Next, know that you can choose a password or a fingerprint. There, it will depend on your smartphone and your desires.

Then, very quickly, you will be asked to choose your unique Ethereum name, which will be similar to “yourname.money.xyz”.

Next, you will need to verify your phone number and email address. This will allow you to configure your 6-digit PIN. This is an important step because you will be asked for this PIN code systematically, each time you open your application.

Once you've followed these simple steps, then you're officially a Money app user.

Download the Money App

Is Argent a secure wallet?

When you choose a wallet, this is the first question you should ask yourself. Is the wallet secure?

Like the vast majority of crypto wallets, security on Argent is also provided by a PIN code, or a secure password. Each time you need to open your wallet, you will be asked for your 6-digit PIN code. It's the same thing when you want to send payments.

That's not all! If you want more security, you can use other functions. For example, you have authentication by fingerprint or by easy recognition (with Apple Face ID). Well, you still need to have a phone that allows it, that goes without saying.

You can even configure usage authorizations for certain Dapps.

Finally, each user can set a daily transfer limit via a smart contract. This will automatically block transactions that go beyond the imposed value limit. There, it will be really complicated, even impossible for a hacker to hack the account, for example. This is a really very rare feature in crypto wallets.

In addition, and this is certainly what makes it its ultimate special feature, the Argent wallet has solid security thanks to its “Argent Guardian” system.

Argent guards can include people, Argent's internal Argent Guard service, external devices like Ledger and Trezor cold wallets, and Argent's own Argent Guard service. These guardians (in the literal translation) will be able to freeze the funds of all the accounts entrusted to them and are also responsible for approving wallet recovery requests.

A user of the Money app can choose as many Guardians as they wish, the majority of which will need to approve or reject a request for it to be operational. Overall, when configured correctly, these features make Argent a relatively hyper-secure way to store and manage Ethereum-based assets on a smartphone. These are security features that are not available on other, more basic wallets.

Conclusion about the Money app:

We have just seen the features of the Money application. We can see that it is very complete and that its design was very intelligent.

This remains a practical and functional wallet, which contributes to the democratization of DeFi services and the use of Ethereum.

The fact that you can easily create addresses and above all the fact that you can send money for free make it a first choice application. Whether for beginners or pros.

Also, the fact that the Argent app only supports ERC-20 tokens from the Ethereum blockchain, so it's not the only app you'll need. Indeed, don't forget that you cannot send tokens other than those based on Ethereum. Another slight annoyance is the fact that it's an application. today, we can only use it in the mobile version and nothing tells us that the management team plans to deploy it in the desktop version.