Summary
Since the inception of crypto and blockchain technology, there has been an increase in FinTech innovations globally. In a very short time, FinTech companies have reached a point where everything is meant to help market participants. Among all of the popular FinTech breakthroughs, digital wallets have become a necessity.
According to an estimate, the number of transactions occurring each day in the crypto market equals 400,000. All of these transactions involve a transfer between wallet addresses. There are many non-custodial cryptocurrency wallets on the market, but none that allow users to do everything in one place.
This is where OWNR Wallet, a popular and in-demand crypto wallet ecosystem comes into the picture. The platform is close to a FinTech innovation and its growth is due to the signature aspects such as offering a multiplatform and multi-feature crypto ecosystem.
Let’s take a closer look at what the OWNR Wallet has to offer crypto users in one place and why it’s worth the hype in the following sections. Furthermore, in this detailed review, we shall also take a look at its limitations and points where it needs improvement.
The Origin of the OWNR Wallet
OWNR Wallet is a private limited venture that began in 2018 in Estonia. It is the brainchild of a team of experts that claim to have specialization in FinTech, cybersecurity, and cryptocurrencies. The OWNR Wallet is slowly growing as a crypto ecosystem that facilitates fiat and crypto operations under one roof.
As the brand’s distinct product offerings, the OWNR Wallet ecosystem consists of eight innovative FinTech solutions. These products are:
- A crypto-to-crypto exchange API
- A cryptocurrency purchase gateway
- A cryptocurrency purchase API
- A multi-feature HD wallet
- an individual OTC deals
- A feature to sell crypto (or MoneySend)
- Visa Prepaid Card for Business and Individuals
OWNR Wallet vs. Others - A Detailed Comparison Based on Features:
- The appeal of self-custody
In recent weeks, the crypto market has seen the worst collapse of a crypto exchange in the form of FTX’s insolvency. In wake of the FTX fallout, crypto users are looking for a solution to avoid such a situation ever again. Experts believe that the answer lies in non-custodial wallets which the OWNR Wallet is offering.
It is easier to get started with and thus more investors are flocking toward it to avoid the existential threat. In a short while, the number of OWNR Wallet users has grown over 400,000 because it might prove to be an alternative to existing non-custodial crypto wallets like MetaMask.
- Crypto purchase option via Cryptocurrency Purchase API
The option to buy crypto directly from a non-custodial wallet known for its safety features is a valuable feat. But not every other type of crypto wallet offers the same functionality with the same sense of security. OWNR Wallets facilitates crypto sell and buy orders for users through payment gateway. You can also use the payment gateway from OWNR for your businesses if you want to add features of buying or selling right from your website.
MetaMask and other wallets on the other hand do not offer a service similar to the payment gateway on OWNR Wallet. For this reason, even though there is a varying transaction fee on these OTC purchases of crypto using this wallet, it works as a pro rather than a con.
- Supported cryptocurrencies
The existing non-custodial crypto wallets like MetaMask and Coinbase Wallet are considered the top choices in their category. But it is safe to say that each of them has its own shortcomings. One of the main differences between OWNR Wallet and MetaMask is the number of supported crypto.
In MetaMask, only Ethereum and ERC-20-based cryptos are supported to store, send, and receive. Simply put, MetaMask does not work with any other crypto other than Ether. But being a new entry in the market, OWNR Wallet, supports a total of 10 top cryptos including TRC-20 and ERC-20 tokens.
- Anonymity and Security
Without these two features, there is no existence of a crypto wallet that is safe enough to use. Being a non-custodial wallet, OWNR Wallet retains no keys or secret phrases of users on its servers and is also a licensed company adhering to KYC norms. But there is a catch. A user can anonymously transact low-value crypto trades without requiring KYC. The security feature is triggered only when you want to purchase or sell crypto.
For this reason alone, we consider OWNR Wallet as a mildly anonymous crypto wallet with mid-range security protocols in place. But there is a possibility that in future, the founding team could improve on this point.
OWNR Wallet Limitations: Areas of improvement
While the existence of each of these offerings makes OWNR Wallet a full-fledged ecosystem, as a multifunctional crypto wallet, its true potential is still hidden. Below are some of its limitations we have found.
- The OWNR wallet does its job by accepting BTC, BCH, LTC, DASH, DOGE, ZEC, USDT, TRC-20, and TRX. But it can improve its crypto offering in time because most users tend to avoid the top altcoins and BTC.
- The overall security of this platform is medium. The wallet does not store users’ seed phrases, keys, or any other type of data. But it means that users must enter their card details for every transaction which is cumbersome.
- Though Visa prepaid cards are also available for individuals, only if they are based in the EU. For this reason, individual users don’t get to make the most of this feature.
Final verdict
To summarize, if you have been actively buying and selling cryptos, then you know the shortage of dependable crypto wallet services. Still, OWNR Wallet could have been a potential winner if only a major part of it was not under construction. This causes unnecessary confusion for users who are new to the whole non-custodial thing.
Even so, OWNR Wallet is a convenient ecosystem of useful products that might just improve in the future. We consider the OWNR Wallet a standard multifunction crypto ecosystem to try out at least once.
You can visit https://ownrwallet.com/ to understand this platform even better and decide for yourself whether it is useful or not.
