Edge wallet is private, open source, non-custodial wallet. The goal of Edge is to build an app that is familiar to the masses that already know banking applications. The account is encrypted and backed up so even if it is backed up on a server, the username and password are encrypted. Users have access to each individual wallet private keys to each individual wallet created on that account. Having the private seed separate for each wallet in the account is safer compared to for example if a new user who has 17 different wallets that can be restored from 1 seed that got compromised, then all of those wallets on the accounts are done for.
If Edge ever goes down or servers are out, the user can still access their account offline without internet via the FULL password or biometric as the keys are stored on the device. The user would lose access to basic functions such as seeing exchange rates or PIN logins, anything that required a server. But the user would still be able to decrypt their keys with the full password offline.They could then access it and restore on another device or wallet app that supports the cryptocurrency type or seed phrase type.
Sharing location is NOT required and optional and solely use for 3rd party services within the app giving the user the freedom if they choose to do so use centralized services for buy/sell or maintain the privacy by not accepting any of the location data. VPN is something that combined with Edge makes this a killer app.
Edge also has support for ZEC as well as a number of NO KYC swap partners as well as being able to connect to DeFi such as Uniswap or AAVE using WalletConnect which Unstoppable also has is something that has become a common feature across mobile apps to connect to a dApp.
Lastly, Edge does have different languages but it depends on your device settings. Set it to Spanish, Russian, Italian, Chinese, German, etc. and these are translated all though some more so than others.
I like the goal trying to unify all this research and create the best and most optimal user experience for any ZEC user and I think that is where people perhaps your team and I or the Edge team can try to make that dream a reality. However, a lot of the wallets out there also do not see from a user point of view how that the ease of use even with Unstoppable is not ready for the masses.
Edge wallet is one of the few, if not only non-custodial wallet with phone call support that has been in the space since 2014 (as Airbitz) doing that. Edge even has a direct line with a help button to tap to call or live chat with but in Unstoppable I cannot even find any support to talk or contact a person whether phone or live chat. However, Unstoppable does have a nice FAQ and Academy built in. The goal with Edge is to make crypto familiar so that it can be unleashed the the masses while retaining the core values of crypto such as non-custodial ownership and privacy foremost.
If you have seen support in any industry, then you’d also know that the amount of users even with the most simplest UI and warnings in place, will still have herds of users reach out to talk to someone for help. I ask you this, what non-custodial wallet out there whether it supports ZEC or not, already exists out there with phone type support that have the experience? Centralized cryptocurrency platforms do not count as the support there have no idea in anything crypto related and wouldn’t be able to tell you how to recover BCH sent into a Segwit address or that it was even possible. Centralized support persons that work in Coinbase or Nexo, they don’t troubleshoot and know how to do forensics or investigate a blockchain explorer. The support there is mickey mouse stuff and at least with non-custodial wallets whether it be Edge, Unstoppable, Exodus, etc. I am sure have technical support that know how to actually navigate and know the rules of the different cryptocurrencies.
I’ve worked with a double digit high net worth millionaire and many other high net worth non-technical users to be able to move funds to experience DeFi or get help with learning how to use the tools to hop across from main net to a token like USDC on Polygon to be able to LP stake on Uniswap v3 to earn 200-600% APR or to move funds from bank which you know earns shit interest when they could park millions much more on DeFi. Even the concept of explaining to them about gas fees or getting funds stuck not bor not able to deposit because the paired tokens haven’t been combined yet. Or let alone trying to hop all the way back across chains into main net and back to the bank.
When Wall St comes along with nation states and trillions come into the market, do you think that financial people will even “get” this with the way most non-custodial wallets are? I’ve met multiple young financial people that are educated or have worked for example in big 4 accounting firms yet had NEVER used a password manager or even use the same password across different websites and services. The vast majority of people have no regard for security. It might be possible one day that once all this money comes in that there will be lots of fund managers and companies simply willing to start paying or hiring DeFi operators to “drive” and move money on their behalf which also defeats the purpose about ownership of your own keys. If this happens then it’s just gonna be the opposite of the fiasco of Celsius where they 1 entity holds mass amount of users funds cause they never had the keys except this time it might be operators who have the keys to move fund around for big companies because a lack of ease of use and need for it.
The account creation difficulty for the masses is not there yet with most of the non-custodial wallets in where a user still in this day and age 2022 that a user is still expected to write down a seed like this as if this is still 2012 or 2013 where I still have to write that down almost a decade later. Where are the other apps that are like Edge where this is familiar and done behind the scenes?
Even if there are others that are like Edge, there is still so much more to do to make DeFi ready for the masses. Need something like a Western Union app that constantly warns the user about the dangers of sending money to a scam and with all the education and support in hand but even at that I bet you that there will still be a massive amount of volume of angry customers and calls for help no matter how much info and warning you put in an app. Now imagine with all the crypto wallets out there. Where is the one that is the most bank familiarity with the best support yet has everything under the covers that retains the values of privacy and non-custodial use??
I remember before mobile wallets when Multibit was my go to wallet on desktop but the interface would be so confusing for the average user. Really users they don’t want to see all the advanced options but something familiar! They just want to see it go and 90% of the time tap to fast to even go through the warnings or deleter the app if it takes too long or are required to write enter the seed again! I was so excited when Mycelium came out which was one of my 1st mobile wallets to use but even then that was too much for the user (if any one remembers the UI and can relate to Mycelium?).
Railway is really interesting and so is ZEC but it’s going to continue to be a niche not ready for the masses unless usability is seriously addressed. What I would love to do is if I can find the right teams and people to connect together is to use what I’ve learned in the space for the last 10 years in crypto to connect people, companies, apps etc. to combine ideas to make or enhance that perfect product. I’m tired of seeing many different wallets and iterations of the same thing thing but slightly different. We should have it where the different groups in different disciplines focus on one thing and then combine those features with ease of use, privacy, and non-custodial.
If Edge security model + ZEC/Monero + DeFi cross chain/swaps + Uniswap + AAVE + a Bank App (think familiar) had a baby together and made a wallet that was easy to use for an average person familiar to banks yet was private, anon, non-custodial by default with the ability to lend and borrow or stake as well as interact on DeFi that would be a beast of a wallet. Maybe throw in an NFT feature there and that wallet would be my favorite wallet to use. Add in having world class support with someone to talk to on the phone or even a paid service for 24/7 for whales and there you go that product should be golden!