This is an important part of the Ethereum network. It allows crypto newcomers to take the first step in the blockchain world. Its effectiveness as a wallet is secondary to the role of the Ethereum bridge. As a wallet, it is the perfect partner for a product like MEW. I don't think it has its own strong security features.
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I would suggest storing a small amount of cryptocurrency in the wallet only. The best way to use it is to store the currencies you need to enjoy dapps.
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