Review on Eidoo by Olugbenga Ajayi
Review of eidoo wallet
Eidoo wallet is a digital wallet with features of exchange and a cryptocurrency project. This is because it has an inbuilt decentralized exchange that can be used to buy and sell and alo invest in cryptocurrencies and tokens. It also has its own token known as Edo token which ICO is offered for sale and trade right inside the wallet.
The wallet is a non custodial wallet. That means users are at the control of their Private keys. There is also provision for atomic swap.
Some other plausible features are as follows:
1. it is a multicurrency wallet. It supports up to 26 coins including tokens from ethereum network like erc-20 and erc-223.
2. It is an HD wallet which mean all transactions use different public addresses.
3. It is available for use on many Platforms. Initially it was made to be used with mobile but now it is usable on multiple desktop platforms like windows, Macs and Linux.
4. The software is open source hence it is opened to improvement and upgrade.
However research revealed that this wallet despite all it's credible features is not regulated.
Pros
- The app is well designed and intuitive even for beginners
- Users have control over their assets
- It uses 2 factors authentication and passphrase to secure assets
- It offers convenient cryptocurrency transaction like buying, selling and trading inside wallet
Cons
- It is now a regulated wallet. This is a problem because people only have trust on regulated wallets
- The customer support service should be improved
