xPortal

Basic Information

As a digital cryptocurrency wallet and an app, xPortal, formerly known as a Maiar, allows you to trade and securely hold crypto assets on your mobile device. The wallet is primarily based on collaborations with the MultiversX blockchain, formerly known as an Elrond blockchain.

Functionality

Despite the fact that blockchain technology has been around for several years, most people are only familiar with it through the media. xPortal is attempting to change this. Developers are aiming to create an app that makes cryptocurrencies a regular part of our lives and makes sending money through them as easy as sending an SMS message. A new feature of the wallet is a chat which you can use to communicate with other xPortal users.

It is possible to download xPortal on both Apple devices and most new Android mobile phones. It is a fairly user-friendly application that can be installed in no more than two minutes. The only requirement for creating a wallet is a phone number. Furthermore, the entire application is free of charge. All that is required of you is the fee for using the MultiversX (approximately 0.001 USD per transaction). It is always possible to see all fees before completing a transaction, so you can make an informed decision regarding whether you wish to proceed.

In general, the entire wallet is based on the MultiversX blockchain, which can be viewed here for more information. Therefore, xPortal can serve as an entry point into the world of crypto and decentralized finance, particularly in relation to the MultiversX blockchain that is gaining popularity around the world. Thanks to the connection with MultiversX, users can join a waitlist for the first Metaverse powered debit card, use many different dApps or view a list of recent news that are happening not only in the MultiversX ecosystem.

Pros and Cons

Pros

Easy and quick installation
Effective support – If something does not work on your end, the developers will be able to assist you
Refer & earn program – By referring your friends, you can earn quite a bit of money
Strong cooperation with MultiverseX blockchain and connection with Ledger hardware wallet (HW)

Cons

While the app is fairly intuitive, it lacks some basic instructions for those who are beginning to use it

Supported Chains

So far, the wallet supports EGLD, MEX, UTK, RIDE, USDC, BNB, ETH and BTC. Availability of more assets is planned in the future. The wallet also supports NFTs.

Tips from an Analyst

As with other wallets, it is wise to be cautious when handling this wallet. xPortal allows you to create a seed that can be used to recover the entire wallet in the event that your phone is lost. It is necessary to write this seed on a piece of paper or a metal plate. I strongly recommend that you do not upload it to the Internet or take photos of it. A person who finds the seed and steals it can easily steal any funds you had in your wallet if you lose it.

Due to the fact that you have installed xPortal on your phone, you should treat it as if it were your actual wallet. No matter how you choose to protect your phone, it is advisable to use a strong password and not to let it out of your sight. In the event that it is lost, you should recover the wallet as quickly as possible using the seed and move the funds to another wallet.

Personal Opinion

xPortal wallet might be one of the possible applications that will help bring crypto closer to the general public. The fact that it takes approximately two minutes to install is a remarkable feature. Despite the fact that the app is quite intuitive, it is unfortunate that you do not receive a tutorial once you have installed it. This would make it even easier for people to adopt crypto and take advantage of its benefits.

Despite this, the wallet provides all the necessary features for the average user. It allows you to hold, trade, and deposit cryptocurrencies into a staking account. Additionally, it is compatible with NFTs.

Finally, many people will appreciate the referral program, through which they will be able to make some additional income. The wallet only supports a limited number of cryptocurrencies, which is a slight disappointment.

The concept of making crypto more accessible to all, and even the former Maiar´s slogan "sky is the limit," summarize xPortal's true essence. Although it hasn't reached the heavens yet, it's still a work-in-progress and it's possible it will soon soar with the eagles.