Gemini launches a self-custody wallet with Web3 and passkey support, simplifying on-chain use for users and developers.
Crypto exchange Gemini introduced a new product. The company unveiled the Gemini Wallet, a self-custody smart wallet designed to make on-chain interactions simpler. This wallet is also focused on the regular user, as well as the developer, and strives to improve their experience of using cryptocurrencies. This news was posted on the official X account of Gemini and was met with interest in the community.
New Gemini Wallet Supports dApps, Covers Gas Fees on Major L2s
The Gemini Wallet is provided with new functionality to enhance usability. It facilitates Web3 technology; hence, it enables easy access to decentralized applications. Additionally, the wallet has passkeys, which provide easy and safe logging in, eliminating the use of complex recovery phrases. The strategy enables newcomers in the crypto world to join conveniently. In addition, the wallet has a portable and embedded design, which offers flexibility to be usable on different platforms.
Gemini also introduced the Gemini Onchain Dashboard, in addition to the wallet. It is a browser-based application that can serve as the hub of crypto assets. They can monitor their holdings, test innovative decentralized applications, and gain returns via DeFi vaults. In addition, it interacts well with a Gemini account, which enhances the experience.
Among these outstanding features is the reimbursement of gas charges. Gemini partners with networks such as Arbitrum, Polygon, Optimism, and Base to subsidize the transaction costs to cover the initial costs of transactions. This eradicates one of the most frequent barriers for new users. Also, all wallet users are given a free subdomain name of the ENS, e.g., satoshi.gemini.eth, and this gives a personal touch. The wallet will later this year integrate with the Gemini trading platform to facilitate smooth transactions of crypto.
The wallet also prioritizes security and convenience. Gemini has collaborated with Blockaid to guard users against possible fraud and swindling. This partnership makes sure that robust on-chain security is present. Moreover, WalletConnect provides convenient access both between apps and desktops and connects the wallet to the wider Web3. Bungee is a cross-chain, on-chain liquidity marketplace that enables seamless swaps across blockchains and has passed over 20 billion in volume.
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Gemini Simplifies Crypto with Tap-to-Use Wallet and Instant Yield Access
To people interested in reward opportunities, Morpho offers access to curated DeFi vaults on Arbitrum. The user is able to deposit the assets and begin to generate returns as soon as possible and can withdraw the money at any time. This is an attractive aspect to investors seeking a passive income. Also, the wallet is attractive at its early stages due to the low gas fees of network partners.
The launch will solve one of the major issues in the crypto sector. Gemini sees the next billion users attainable through smart wallets with passkeys. This approach makes the process easier, and it does not involve downloading apps and creating recovery phrases as before. Consequently, the wallet becomes part of the background, and there is a tap-to-use experience. This is perceived by the company as a major development, just like the transition from using old technology to new internet facilities.
To sum up, the new wallet of Gemini wallet will be a significant milestone in making crypto accessible. The wallet has Web3 support, passkey logins, and effective partnerships. The innovation has the potential to determine the future of self-custody wallets in the industry.
