Crypto Academy Week 5 Homework Post for [@yohan2on]. Explaining ARGENT WALLET

2개월 전

Argent wallet

Hello, my fellow crypto enthusiasts. This is another crypto homework given by @yohan2on. I will be discussing Argent wallet today. Below are the steps to get along with the wallet.

Explaining Argent app

Argent app is a smart ethereum wallet that is used for exchanging assets, and earn interest. You can invest using the maker, compound, uniswap Aave and so on. All these are part of the features the app possess.

Using Argent wallet

The first thing to do is to download Argent wallet from google play store.
After downloading, we can now open it and follow the processes carefully minding every steps.

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After getting pass through these stages, the next step is to either creat a new wallet or restore wallet. In the image below, the "create new wallet" is for a potential user seeking to creat account for the first time, while the "I already have a wallet is for existing account/wallet". So to create a new wallet

Click on "create new wallet"

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The next page is what we have below.

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As we can see from the above image, 0.0374 ETH will be charged from first deposit, and a network fee between $10 and $100 apply to each transaction. Also, there is a line sentence that says "Argent does not profit from the network fees". I wonder who does. Mybe we would get more info about that as we proceed. Meanwhile, the fees and charges are discouraging at first glance, but Let's see if the in app features offers something lucrative


Proceeding, the next stage offers the user to reserve a unique Ethereum name. As always, I love using ckole like MTN former slogan (everywhere you go). You can use any name you wish to use but there is always a default compliment after the selected name. Mine is ckole.argent.xyz

.argent.xyz is applicable to all account created. So after creating the unique ethereum name, click on continue.

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After clicking on continue, accept the terms and conditions and choose the mobile number you want to use for the creation of your argent wallet.

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This number is taken in order to notify the user of suspicious activities in their account. Proceeding to the next step, a verification code is sent to the number which connects automatically if the said number is in the phone used

Enter your email address and verify the email and open argen app.

choose a passcode to proceed and use a finger print if you wish. Otherwise, skip and finish set up.

After the set up, we can start using the app for different purposes.

Some features in argent wallet expalined

The wallet has many features. Here are some list. Most I'mportantly, the invest feature is the main part that the application works best.

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From the image above click on invest and the list of DEfi would be shown to explore.

  • Token exchange
  • ETH2 staking
  • Aave
  • Aave 2
  • Compound
  • Yearn V1Vaults
  • Uniswap V2 liquidity
  • Balancer
  • Robo TokenSets
  • Social TokenSets
  • Dai Saving Rates

Token Exchange

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Click on token exchange swap token. You can pay ETH for DAI and other cryptocurrencies the wallet supports. From the image below, we can click on the drop down to see the tokens we want swap.

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Eth2 staking

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This is about contributing to ethereum and earning staking reward. So here, click on Eth staking and click on Lido staked ETH. Scroll up and click on invest, then lock the amount of ETH you want to.

This is how all the features would be used.

Thanks for reading.

All images were taken from my mobile device and some were tweaked using paint.

This is the week 5 homework given by @yohan2on

CC

@steemitblog
@steemcurator01
@steemcurator02
@yohan2on

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Hi @ckole

Thanks for attending the 5th - week course and for your effort in doing the given homework task.

Feedback
This is excellent work. After someone has created their Meta Mask account, Meta Mask has that invest feature which they can utilize to interact with the DeFi protocols.

I have realized that Ether has high fees on every transactions. Hope Ethereum's version 2 will resolve that challenge in the future.

Homework task completed
10

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Yes boss. Ethereum transaction is killing. The last time I used it was when I swapped one of my token on Uniswap. In fact, I still have some tokens in some exchanges that I left because of Ether charges. I just leave them there as investment.

See bro, steem remains one of the best token with the highest transaction speed and lowest charges. I just hope we create our own Steem swap some day. My mind is seeking for it.

Thanks prof. Much appreciation. One love

@ckole, скажите пожалуйста, Eth 0.0375 надо будет перевести на кошелек Argent и эта сумма останется на депозите или уйдет за какие-то услуги, типа установления кошелька. В дальнейшем 0.0375 Eth можно будет использовать владельцу кошелька для дальнейших операций?

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@vipnata, thanks for your question.

The 0.00375 ETH is a charge for the creation of wallets. That's why I said the first time use seems expensive. After 0.00375 is taken from your first deposit, you will still be charged on every transaction depending on the transaction you are executing. While the first time charges is unreasonable, they offer a little bit of reasonable charges on other transactions.
The argent wallet is a smart contract built on Ethereum, and it needs a network fee just like gas.

The network fee is paid using ETH, DAI, USDC or USDT.

People keep asking why a one time charges is mandatory on argent wallet and this has been my answer.

The functionality on argent is numerous. Other traditional wallet that has seeds does limited things, and besides, argent is a smart contract wallet that requires gas to be created because it was built on the ethereum blockchain. So, there are still charges on transactions because argent does not benefit from the first charges. They only get their profit from transaction charges.