The new 1inch mobile wallet app expands the network functionality by offering the best possible transaction rates for instant execution of trades.
On Tuesday, April 27, DEX aggregator solution provider 1inch launched its mobile wallet on the Apple iOS platform allowing users to easily swap tokens via their mobile devices. The 1inch wallet for iOS comes with web version features along with mobile wallet functionality.
This new iOS wallet brings together several advantages of 1inch Network while allowing users to instantly swap tokens at the best rate in DeFi. Besides, this can happen using the same settings and aggregations functionality of the 1inch DApp for both Ethereum and Binance Smart Chain networks.
Also, within the Ethereum blockchain, the 1inch Wallet for iOS supports stealth transactions. This keeps the trades hidden from third parties thereby reducing the risk of front-running. The mobile wallet app also comes with advanced features for traders. This includes the ability to edit or cancel transactions that haven’t been yet included in the blockchain. Thus, traders can initiate faster execution of their orders by increasing the gas fee.
As said, the major goal for the 1inch network has been interoperability. Thus, the wallet will allow users to make transactions in networks other than Ethereum. 1inch protocol founder Sergej Kunz credit the Binance Smart Chain for the network’s recent expansion. Kunz said:
“1inch users can now easily switch between BSC and Ethereum, looking for higher speed and lower fees. We are closely monitoring the latest developments in the DeFi space, and we’ll add support to other promising blockchains.”
1Inch Mobile Wallet: Top Performance, Convenience and Security
As said, the 1inch wallet app aims at offering the best possible rates while executing trades. Besides, the app also uses its WalletConnect feature for implementing features like sending transactions, swapping, and approving transactions.
The mobile wallet app also has a very user-friendly design. It allows users to divide their tokens into different categories. Besides, it also allows them to view their assets separately in a different group of collectibles, tokens, savings, etc.
The wallet app also features push notification functionality. Users receive notifications for the transactions and can proceed with them in just a couple of clicks without logging in every time. Besides, the 1inch wallet also supports EIP-681 payment requests. This allows users to pay directly via URLs.
The 1inch mobile wallet also implements top-grade security while working in accordance with the Apple ecosystem. It comes with an encrypted backup with Apple Cloud. This allows the user to install the app on another device via using their password and getting access to the wallet via iCloud.
The backup comes with three-layer protection including Apple ID, Face ID, and passphrase. Note that neither 1inch wallet developers or Apple can get access to the user data stored in the iCloud account.
Bhushan is a FinTech enthusiast and holds a good flair in understanding financial markets. His interest in economics and finance draw his attention towards the new emerging Blockchain Technology and Cryptocurrency markets. He is continuously in a learning process and keeps himself motivated by sharing his acquired knowledge. In free time he reads thriller fictions novels and sometimes explore his culinary skills.