SimpleHold Wallet Review
Launched in February 2021, SimpleHold operates under the legal name of ‘SimpleSwap Ltd, Trust Company Complex’. It is a decentralized wallet and does not have a physical office as such. However, the Terms of Service on their website states that the user agreement will be governed as per the laws of England and Wales.
The wallet has partnered with the crypto exchange platform SimpleSwap.io. Through this portal, SimpleHold users can gain access to more than 300 crypto and fiat currencies. The company has also partnered with Nuls and Digibyte. Nuls is an open-source blockchain project driven by microservices. And Digibyte is a decentralized internet blockchain service that allows users to design decentralized apps or dApps.
SimpleHold Wallet is a lightweight and agile application for storing your cryptocurrencies. Features like ‘Safety’ and ‘Usability’ form the crux of this app. It is a non-custodial wallet that supports many of the majorly traded cryptos that use Ethereum or Binance blockchain. Additionally, it does not require users to undergo a registration process or log in for making transactions.
As the login functionality is absent in this app, users will not have access to some extra features like buying vouchers/ gift cards or attaching a debit card to the wallet.
For buying and selling cryptos, users can opt for the web version. This feature is powered by SimpleSwap. As per the information provided by the company, this native implementation could be released on or before April 2022. Once released, the trading feature will be available across all three platforms i.e. Android, iOS and Web.
Many DeFi service providers do not allow investors from certain countries on their platforms. SimpleHold also has such restrictions. Countries on its restricted list include the United States of America, North Korea, Sudan, Crimea and Sevastopol, Republic of Cuba, Syrian Arab Republic, Japan, Republic of Iraq, Republic of Yemen, Federal Republic of Somalia, Republic of Congo, State of Libya, Republic of Liberia, State of Eritrea, Republic of Mali, Republic of Zimbabwe, Republic ofCôte d’Ivoire, the Islamic Republic of Iran.
What Coins Does SimpleHold Wallet Support?
SimpleHold Wallet supports many of the frequently traded coins on Binance or Ethereum blockchains. Cryptos like Bitcoin, Bitcoin Cash, Bitcoin SV, Litecoin, DASH, Ethereum, Ethereum Classic, Binance Coin, Cardano, Polygon (MATIC), Solana, Toncoin, Ripple etc are available here. On the date of writing this review (3 February 2022), it supported 29 cryptocurrencies and 76 tokens.
Does it store NFTs, Crypto Art, and Collectibles?
Yes. SimpleHold is one of those wallets that supports ERC-721 tokens. All artworks are stored in the NFT gallery which is easily accessible on the mobile app or the browser widget. The gallery supports NFT transfers from the Ethereum blockchain and the Solana network.
Is SimpleHold Wallet Easy to Use?
Yes. We believe that SimpleHold Wallet is easy to use for individuals, businesses, professionals like crypto project managers, veteran crypto traders, HODLers as well as newbie crypto enthusiasts.
Is SimpleHold Wallet Anonymous?
Yes. SimpleHold users can remain completely anonymous. There are no KYC mandates. And since this app can be used without registration or the need to log in, users don’t have to submit any personal data.
Is SimpleHold Wallet Safe?
Safety is another key point at the core of SimpleHold’s application design. It is a non-custodial wallet and the user has complete control over their secret keys. A backup of these secret keys is encrypted and stored on your browser. No private or personal data is sent to SimpleHold servers.
It also uses a passcode to lock your screen and protect users against unauthorized access. Even though this passcode does not decrypt a user’s private keys, it can be instrumental in safeguarding your account balance and public addresses.
Does SimpleHold Wallet Have any affiliate programs?
At the time of publishing this review (February 2022), affiliate programs are currently being developed. Based on the information we received from the company, affiliate programs could be launched in the near future (expected around May 2022), after the SimpleHold Exchange program is released.