Ethos Wallet Review: Features and How-to-Use Guide

With the evolution of cryptocurrency projects, the tools attached to each had matured as well. Ethos wallet is a great example, being a multicurrency mobile wallet with an advanced user-oriented interface. The variety of privacy and security features strengthens the role it has over protecting your funds. This HD wallet provides a full possession over the private keys to you. What is more, you can even lock it with an extra layer – a PIN code. More on how to install, how to use and what to look for is revealed further in this review of Ethos.

01.Ethos Features & Fees

One of the most desired aspects regarding a wallet is to support at least one of the major cryptocurrencies. Well, with Ethos you get 5 of the most popular coins – BTC, LTC, ETH, Dash and ETC. Ethos project doesn’t stop there, it also allows you to manage almost 150 different ERC20 Tokens. This all in one wallet offers even more, read on and explore the usability of this widget.

Built-In Exchange: ShapeShift and Simplex

Ethos wallet has the fiat gateway Simplex on one hand and the Swap option on the other. Simplex lets you buy BTC, ETH and LTC directly from the wallet. The other way is provided by Shapeshift and lets you swap your digital assets for others. Have in mind, that with both exchanges, the actions come at the expense of high fees. For some of you, the convenience and simplicity of buying without jumping between exchanges are worth the costs. With Simplex, any crypto purchase below $200 will have a flat fee of $10.00. In case you deal with even $1 more, a fee of 5% will be applied and deducted from the total amount. As a contrast, ShapeShift does not charge any specific fees on top of the miner ones. They basically bind the market conditions with an exchange rate, which changes every 30 seconds. The Ethos project aims for earning revenue by offering a profitable exchange rate.

Transaction Fees

Ethos wallet will charge you with a fee only when you do a transaction. This way you will charge the blockchain with coins, paid to the miners for doing their job providing computational resources to the network. The basic wallet functions like deposit or withdraw coins are free to use. 

Create an Address

This is an important action, which will generate addresses. You will use them to send and receive crypto assets. With Ethos wallet, you can do that by clicking on ‘+’ button in the menu. For better tracking and usage name your wallets (no matter how). For extracting your private keys, Ethos’s official website offers a special tool, requiring the seed phrase. Once done properly, it will display your private keys.

Send and Receive Assets

Sending is done just with few simple actions – pick the coin you will use and choose ‘send’ from the menu with options that appears after that. Then fill in the address of the receiver or simply scan the provided QR code. Don’t forget to write the amount you want to send. Receiving is a similar process – pick the crypto asset and choose ‘Receive’. Here the options between an address and a QR code are provided again.

Specific Functions

A convenient way to create Smart Keys is by shaking your phone. This action helps your phone to generate data, used in combination with the other sources ensuring the random nature of the keys. Another useful function is the registration and verification of a business or personal name. This happens through Ethos Verified Wallet Domains. Such simple wallet domains send or receive any coin supported by the app. They help you replace the long and difficult cryptographic address with a simple blockchain synchronized name.

Possible Issues and How to Avoid Them

Executed Transactions Are Not Visible

The best thing you can do is create a ticket for the support team and wait until they fix things manually. Here is how to do that:

• Type: here click on ‘Incident’
• Category: in this section pick Payments/Transactions
• Fill in the cryptocurrency that was used in the transaction plus its ID
• Type in your username
• It is always a good idea to add a short description of the issue

A Seed Is Not Being Generated on Your Phone

Change the application language, then complete the procedure and after setting a PIN, restore the preferred language.

Ethos on Social Media

Information plays a vital role in the crypto world. That is why every project, including Ethos, keeps the user up to date with different announcements, roadmap updates and all kind of related news. Here are the social media channels used by the Ethos organization: