Blockchain ecosystem is evolving rapidly. Smart contract wallets are emerging as game changers in the ecosystem. Smart contract wallets offer a number of advantages over traditional cold wallets or EOA ,like enhanced security, greater functionality, seedless wallets and the ability to pay gas fees in a token of your choice.
This blog post aims to introduce you to the top smart contract wallets in the market today including Obvious, Argent, Ambire, Avocado, Blocto, and Braavos smart wallets.
Each of the above-mentioned smart wallets have their own features, so whether you are starting out or an experienced crypto user, you can find one that fits perfectly for you. Let’s dive in and learn more about these smart wallets!
1. Obvious Smart Wallet
Obvious is a mobile-only smart contract wallet that enables users to transact crypto seamlessly across multiple chains on the Ethereum ecosystem. Obvious wallet supports both EOA and Smart wallets and you can easily manage your wallets in the app. With Obvious smart wallet, users can pay gas fees in a token of their choice while swapping or bridging and executing multi-step complex transactions hassle-free with just a single click. The Obvious app is live on the App Store and Play Store. Obvious Smart Wallet supports multiple chains
Pros & Cons of Obvious Smart Wallet:
Pros:
Convenience: You can pay gas fees in a token of your choice for transactions on your Smart Wallet.
1-Click transactions: You can approve and sign your swap and bridge transactions with a single click on your Smart Wallet.
Seedless recovery: You can split your seedphrase into 3 parts and store them in 3 separate locations so that you don’t have to lose your seedphrases ever.
In-app transactions: Obvious wallet supports seamless in-app bridging and swapping that lets you swap tokens instantly at the best rates.
Cons:
Limited chains:- Currently Obvious Wallet only supports 8 chains for Smart Wallet and 17 chains for their EOA Wallet. There is also no option to add a testnet chain.
No defi opportunities:- Obvious app doesn’t provide in-app defi opportunities like staking or bridging. It doesn’t have a dApp browser too.
No browser extension:- Obvious is a mobile-only app and does not have a browser extension. However, you can connect to dApps using WalletConnect on the browser.
2. Argent Smart Wallet
Argent is a smart contract wallet that allows you to safely store your cryptocurrencies and NFTs. Argent wallet only supports zkSync, Starknet, and Ethereum networks and lets users claim a free ID for their wallets too. It is one of the best wallets for account abstraction and lets users claim a free ID for their wallets too. Argent Wallet also allows for social recovery so that you don’t have to worry about seedphrases.
Pros & Cons of Argent Smart Wallet:
Pros:
Simple: Argent has a user-friendly interface that makes it easy for beginners to use the wallet to manage their crypto assets.
Social recovery: Argent wallet allows you to recover your wallet by adding guardians.
Ability to pay gas in any token: With Argent wallet you can pay gas fees in a token of your choice while transacting.
Cons:
High card transaction fees: The transaction fees for buying crypto with a credit or debit card within the Argent app are higher than other available options.
No desktop app: Argent is only available as a mobile app, it has no desktop version available. This may be inconvenient for some users who prefer to use it on a desktop.
Limited chain support: Argent only supports assets on the zkSync, starknet and mainnet. This makes it difficult for mass number of users to use Argent.
3. Ambire Smart Wallet
Ambire is a non-custodial crypto wallet designed with a focus on DeFi and the EVM ecosystem.
Ambire offers a smooth process for sending and receiving various cryptocurrencies, including ETH, BSC tokens, AVAX tokens, and more, all under the same wallet address. This cross-chain functionality enhances the versatility of crypto transactions. Additionally, Ambire provides automatic transaction fee management and the option to pay these fees in stablecoins. It supports connection to any dApp through WalletConnect. With Ambire Smart Wallet, managing your cryptocurrency assets has never been easier!
Pros & Cons of Ambire Smart Wallet:
Pros:
Simple to use: It is incredibly easy to set up and navigate through the Ambire wallet, making it very user-friendly.
Highly secure and reliable: Users can store their cryptocurrency safely and securely via Ambire Wallet.
Multi-transactions: Users can prepare a lot of transactions and send them all at one click.
Human-readable transactions: Transactions are displayed in a human-understandable language, which helps users comprehend the complexity of web3 easily.
Cons:
Limited number of cryptocurrencies supported: Currently, only Bitcoin and Ethereum are supported, meaning users cannot store other tokens, such as ERC-20 tokens.
No mobile app: There is no mobile app available for Ambire Wallet, which means users can only use the web version.
4. Avocado Smart Wallet
Avocado is a smart contract wallet that simplifies multi-network transactions by allowing you to perform them while connected to just one network. It features a deterministic smart contract that is algorithmically linked to your wallet address and created in a non-custodial manner, ensuring the same level of security as direct chain transactions.
Some of the key features of Avocado include Network Abstraction, which displays all your balances from different networks in one place, Gas Abstraction, which uses USDC as the native gas token, and Account Abstraction, which provides modularity in design and facilitates various use cases such as authority roles, recovery mechanisms, and enhanced security. Additionally, your Avocado address remains the same across all chains, helping you avoid potential issues.
Pros & Cons of Avacado Smart Wallet:
Pros:
Multi-chain support: Avocado Smart Wallet can be used to manage assets across multiple blockchains, including Ethereum, Polygon, Avalanche, and Arbitrum. This makes it a convenient and versatile wallet for users who want to participate in DeFi across different networks.
Gas abstraction: It takes care of gas fees for users allowing them to pay in USDC, so they don’t have to worry about manually calculating for gas costs. This can save users a lot of time, especially when making frequent transactions.
Extensible: It can be customized to meet the needs of different users. This makes it a versatile wallet that can be used by a wide range of people.
Cons:
Security: Avocado Wallet doesn’t offer 2 factor authentication yet so it might not be the best wallet option if you prefer security over other features.
Paying gas in any tokens: You can only pay for gas for all the transactions in USDC & have to manage multiple native gas tokens for each network for now which is a big challenge.
Not for beginners: Avocado Smart Wallet is a technical wallet, so it may not be suitable for everyone. If users are not comfortable with using smart contracts, then they may want to choose a different wallet.
No mobile app: There is no mobile app available for Avacado Wallet, which means users can only use the web version for now.
5. Blocto Smart Wallet
Blocto is a cross-chain smart contract wallet that aims to make the Web3 community more accessible. It offers a seamless, unified experience on one all-encompassing platform, with features such as a dev-friendly SDK, built-in DEX BloctoSwap, and non-custodial NFT marketplace BloctoBay.
With Blocto, you can make crypto transactions in your control, get full royalties for your creativity, and more. It’s easy to get started with Blocto – you can download the wallet from their website and be up and running in just 30 seconds.
Pros and Cons of Blocto Smart Wallet:
Pros:
Simple to use: Blocto is designed for beginners. It has a simple interface and supports a variety of features, such as email login and universal gas fees.
Flexibility: With Blocto wallet you can easily perform tasks like automatic transactions, batch transactions, auto-staking, and more.
Cross-chain wallet: Blocto supports multiple blockchains, allowing users to manage assets across different blockchains and access blockchain applications from one wallet.
No seed phrases: As a user, you don’t need a seed phrase, it eliminates the confusing aspect of wallets.
Blocto points: Blocto comes with Blocto points that replace the harshness of adopting and exchanging many native tokens.
Staking support: Blocto Smart Wallet supports staking, so you can earn rewards for holding certain cryptocurrencies.
Cons:
Asset fragmentation: With multiple assets being hosted on multiple blockchains, users may still face the problem of asset fragmentation.
Gas fees in different tokens: Any operation on a blockchain must be paid with the native token of that blockchain as a transaction fee.
User experience: The more diverse the public chain ecosystem is, the more wallets users must create, which can severely affect the user experience and even indirectly affect the conversion rate of dApps.
6. Braavos Smart Wallet
Braavos Wallet is a self-custodial wallet that offers an easy and secure way to get started with crypto. With this wallet, you can buy, store, and manage your tokens from anywhere using a single app. The wallet also supports NFTs (Non-Fungible Tokens), allowing you to view your NFTs directly from the wallet. Depositing funds into the Braavos Wallet is simple, with options to buy tokens using a credit card or Apple Pay, transfer from a favorite crypto exchange, Ethereum L1, or another blockchain. Additionally, you can swap tokens at the best rates directly from the wallet.
Pros and Cons of Braavos Smart Wallet:
Pros:
User-friendly: Braavos Smart Wallet is designed to be user-friendly, even for beginners. The interface is clean and easy to use, and there are plenty of tutorials available to help you get started.
Multi-chain support: Braavos Smart Wallet supports multiple blockchains, including Ethereum, Polygon, and StarkNet. This means that you can use the same wallet to manage your assets across multiple networks.
Transaction batching: Braavos Smart Wallet offers transaction batching, which allows you to combine multiple transactions into one, which can save you on gas fees.
NFT support: Braavos Smart Wallet supports NFTs & has an integrated NFT gallery for image, music, video, and 3D NFTs, so you can store and manage your NFTs in the same wallet as your cryptocurrency.
Cons:
Features: Braavos Wallet is a relatively new wallet, so it may not have all the features of more established wallets.
Gas fees: The gas fees on StarkNet are still relatively high, so you may need to pay a high fee to make transactions.
