Easy Crypto wallet review
- Supported assets
- 57
- Price (USD)
- Free download
- Wallet type
- Mobile wallet
Our verdict
Easy Crypto is a multi-chain mobile wallet that lets you manage your crypto portfolio from your smartphone.
The Easy Crypto mobile wallet gives users a convenient way to manage their crypto and encourages them to take more control of their assets through self-custody.
While it uses a novel security system that can protect against common risks associated with seed phrase-based wallets, it’s worth learning how its self-custodial, multi-key security works before deciding if it’s the right wallet for you.
Pros
-
Buy, sell and swap 50+ cryptocurrencies
-
Multiple payment options including credit card and bank transfer
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Instant crypto-to-AUD conversions
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Supports multiple wallets
Cons
-
May not support every coin you own
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Only available on mobile devices
The Easy Crypto wallet supports 50+ cryptocurrencies including Bitcoin and Ethereum, and lets you store, transfer, buy, sell and swap crypto straight from your iOS or Android device.
While it's also a self custodial wallet, it uses a novel two-pronged security and recovery system, instead of the more common seed phrase recovery, as well as a local ANZ customer support team.
What is Easy Crypto?
Easy Crypto is a cryptocurrency exchange that was founded in New Zealand in 2018 with a focus on self-custodial crypto.
The Easy Crypto wallet is a separate product that lets users manage their crypto portfolio from their smartphone. This includes the ability to send or receive crypto, as well as buy, sell and swap coins, including directly into fiat currency.
While the Easy Crypto wallet supports 50+ cryptocurrencies, it only currently supports the Bitcoin and Ethereum networks, but will be supporting others like Solana in future.
Is the Easy Crypto wallet safe?
Unlike most other hardware and software wallets that use a seed phrase to recover accounts, the Easy Crypto wallet uses multi-party computation (MPC) security.
When you create an Easy Crypto mobile wallet, it generates 2 key shares. One is stored securely on your mobile device while the other is stored securely by Easy Crypto.
Both key shares are needed to confirm any transactions in your wallet, so your wallet would not be compromised if one key share is stolen.
While this avoids the common risks of seed phrase-based wallet, such as lost or stolen keys, it does potentially leave you vulnerable if your device is stolen and Easy Crypto is compromised in some way.
If you choose not to backup your wallet and then lose your mobile device or delete the Easy Crypto wallet app, you'll permanently lose access to your coins. It's extremely important that you backup your wallet when first creating an account with the Easy Crypto wallet app.
You can also add additional security to your account, including Face ID and two-factor authentication.
There is also a local customer support team that you can contact with any issues or questions regarding your Easy Crypto wallet.
Easy Crypto wallet recovery
Instead of using a seed phrase, you can recover your Easy Crypto wallet in 1 of 2 ways:
Cloud recovery: Restore your wallet using an encrypted backup of your wallet from iCloud or Google Drive.
Easy Crypto wallet fees
As an on-chain, self-custodial wallet, you'll need to pay whatever relevant network fees are at the time you make a transaction. These can vary significantly depending on the network you're using and how congested the network is at the time of the transaction.
You won't need to pay any additional fees when using your Easy Crypto wallet to perform transactions.
How to open an Easy Crypto wallet account
- Download the Easy Crypto app for Android or iOS.
- Create an account using your email. You'll need to confirm your email via a confirmation code.
- Create a 6-digit PIN for your account.
- Tap "Create a new wallet".
- Back up your wallet. This is extremely important and failing to do so could mean you lose your funds.
Easy Crypto customer reviews
Easy Crypto currently has an "Excellent" rating on TrustPilot, with a score of 4.4 out of 5, based on more than 1,800 reviews (last checked on 5 August 2024).
The Easy Crypto wallet has a rating of 4.7 on the Apple App Store, based on more than 40 reviews.
Easy Crypto wallet alternatives
Your reviews
Thomas Finder
Publisher
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