In this SimpleHold wallet review, we take a look at the SimpleHold Mobile App. SimpleHold is a self-custody wallet created by the team behind SimpleSwap, a fast crypto exchange for swapping between crypto and fiat currencies. Just like the wallet’s name surgest the wallet is very simple. But in a positive way! So no unnecessary bells and whistles. SimpleHold makes your crypto experience very smooth and easy to understand. This way the team brings itself to the top of wallets for new users and NFT fans alike. We believe that SimpleHold will be one of the wallets that will push for Web3.0 adoption in the future. Especially as their wallet develops into the future, with more features and a growing crypto ecosystem.
Check out the SimpleHold website here.
So let’s now take a closer look at our SimpleHold wallet review!
How to use SimpleHold
When starting with SimpleHold wallet. You will enter a small tour first. This will tell you about what kind of wallet it is and introduces their support service. From there on you go into the wallet to create or import your crypto wallet. And really start using blockchain. You set your password and passcode for the wallet. So you are all secure and ready to go.
Once your through this you can add extra tokens and blockchains to the wallet. So you can enjoy all the best networks for the web 3.0.
If you are completely new to crypto and do not have any crypto funds. You can add some by swapping your USD or Euros to Bitcoin by using SimpleSwap. Or if you already have some on an exchange you can just withdraw it to the wallet. And start taking full control of your financials.
The wallet has a Simple-to-understand look with 3 pages. A support page, wallet/balance page, and a settings page. This is slightly different on the web extension but with a similar look. Plus on the web version, you can find your collectibles as well.
On the second page (your wallet page) you find your different wallets for tokens and coins. If you click on one of them the will show more information about them. Like a send and receive button but also a button that brings you to your transaction history. Adding a new wallet or token is also easily done on the wallet page. You can create either a new address or import your old one with the use of your private key.
Then we have the support page which speaks for itself. But to keep it quick, it is a chat-like page where you can directly speak to their support team. On the third page, is the settings page. We find some links, documents, and the option to change passport, etc. Not too many features for customization but it comes with all the things you need.
Storage and Private Keys in SimpleHold
SimpleHold wallet as a company does not hold your private key when you use their wallet. No, the keys are all stored on your device. But don’t worry they are encrypted by your password within the wallet. However, you need to make a backup to ensure the safety of your crypto funds. As SimpleHold can not and will not be responsible for your assets.
If you are still new to crypto and want to learn more about how self custody works feel free to ask us or SimpleHold about it.
NFT storage place and gallery
One of the best features (in our opinion) of the SimpleHold wallet is, is their NFT tab (on the web wallet). Here the wallet will automatically detect your NFTs and display them for your entertainment. As NFTs are still new and the use cases for them are still a bit in the exploration stage, a gallery for them is what we really like to see. So your NFTs become more than just a line of code on the blockchain.
Although their wallet is mostly meant for hodlers prioritizing security and simplicity. Blockchain gamers can also use this wallet to show their NFTs and (soon) also connect to their favorite blockchain games.
SimpleSwap is a service made by the same team that made SimpleHold wallet. They have made the cryptocurrency exchange process simple (like the name), safe, and easy to understand. With SimpleSwap you can swap between currencies with ease. Just like with some DEXes like UniSwap and PancakeSwap, you do not need an account but only a crypto wallet. However, a DEX is usually liked to one blockchain but with SimpleSwap you can also Swap between different blockchains and different fiat currencies.
Their swapping services are available on the web but also as a mobile application for iOS and Android. You can try it out on a device of your choice but the swapping service will soon also be integrated into the SimpleHold wallet. Giving it some extra utility for its users. Especially those that do not own any crypto yet.
Is SimpleHold wallet safe?
Yes, the SimpleHold wallet is totally safe. Like always we have tested the wallet for some time and have not encountered any security risks. The wallet is easy to understand and has all the security features you expect them to have.
But you should keep in mind that the wallet is a non-custodial wallet. That means that you hold the private keys (encrypted) on your device. So only you hold the true responsibility for your crypto. Making a backup for your coins is thus of uttermost importance. Because the SimpleHold team can not bring them back for you if you lose your wallet and backup. So always make a copy!
If you want to secure your wallet even more you could link your hardware wallet to SimpleHold. But also download a good virus scanner on your device. To protect you when using the internet. Having a VPN and a good virus scanner can protect you from all sorts of online threats. And also make your crypto more secure.
So an important question is, do you pay Fees for using the SimpleHold wallet? NOPE! You do not. This is great for all crypto users. As you do not want to be controlled by a fee model, made by a company. Especially if it would control your assets. Luckily SimpleHold does neither.
Their earnings come more from their application side. Like their SimpleSwap service. And potentially other Apps in the future. This shows their greater interest in the crypto space as they provide a great wallet service basically for free. If you like (their) free wallet you can support them by using SimpleSwap. So their service for both swapping and storing crypto can prosper.
A good crypto wallet should not hold back on its support. Especially if it is a wallet that draws in beginners. Luckily SimpleHold has a built-in support service on the first tab of the wallet. This way, help is easily accessible and can not be missed by those in need. On top of that their service is rater quick with a response usually under 10 minutes.
We asked their support several questions under multiple different names to check out how good they are. And we were overall very satisfied with their service. With fast and clear answers but when our questions got a bit more complicated, they also needed some extra time to sometimes check things. A small improvement on this could be made but they always came back with the answers sooner or later making them still perform better and faster than most of the wallet’s customer service out there.
If you have a question for their team you could always try to go for their customer service. But before you go ask their staff or through the app or their social medial channels. You should check out their help/FAQ page. Here you can find already many pre-answered questions you might have. This makes it easier for both you and their staff. So they can focus on more urgent matters.
Just in case you have a question for their support? You can best contact them from within the wallet.
The future of SimpleHold
Like we said before SimpleHold has many plans for the future. As the wallet is still new it is not at its final stage yet. Instead, they focus on adding new features over time and making sure that the implemented features are working well and secure. Yet, their development is going rapidly and wallet connect should be implemented any day now within the wallet. This will open the world of Dapps to all the users of their wallet. This will be followed by some integrations of popular Dapps within the wallet, making them more accessible for everyone.
On top of that, they plan on giving more financial freedom to their users by letting them earn interest on their crypto through staking. For anyone holding proof of stake type tokens/coins, this will be very beneficial. As you can then participate in the governance of that blockchain while also earning a passive income.
We are sure that SimpleHold will also add more exciting features in the future and roll them out to both web and mobile wallets. But some features might be available on the web version before the mobile as we currently see with their NFT gallery.
If you like what you have read today, you can download SimpleHold for both Android, IOS, and Web extensions. You can find them all by clicking here. If you do end up downloading it, please let us know your opinion about it on our review page. And now let’s look at some features, pros, and cons down below.
When It comes to extra features (besides sending and receiving crypto) SimpleHold wallet offers the following.
- Swap with SimpleSwap (soon to be built-in)
- Multiple blockchains addresses (also for the same blockchain)
- Secured by password and personal code
- Easy layout for beginners
Like every other Wallet out there, the SimpleHold wallet has flaws and missing things. The flaws that we point out are of course based on our personal opinion and we would like to point out that they don’t always have to be a hindrance to anyone.
We want to say that the SimpleHold wallet is a great wallet for users that like security and simplicity. But like any other wallet, we see some room for improvement. In the case of their wallet mostly in extra features and perhaps some extra blockchain integrations.
When it comes to both mobile and the web wallet we would love to see some options for personalizations like a light and dark mode and/or an avatar feature. Especially with the NFT gallery, this would be great to have an NFT avatar/profile picture in the wallet.
Besides that, we often see that many wallets focus on the new and exiting layer 1 blockchains but do not always integrate the sidechains for both Bitcoin and Ethereum that fast. So what we would really love to see is some integration of layer 2’s like Arbitrum and Optimism. But also Bitcoin (smart contract) layer 2’s like Stacks, DefiChain, and the Lightning Network.
We think that with the design of their wallet and these extra features the wallet would massively boost the user experience of these chains. And push the ecosystem altogether 1 step closer to mass adoption.
The SimpleHold web and mobile wallet both seem like great wallets with even more potential for the future. Although some upgrades to the wallet could be made their progress as a wallet is on track. And we expect them to become even better in the future. They currently focus on users that prioritize security and simplicity. But we believe that they have the potential to grab a much larger share of crypto users. Once NFTs and wallet connect are both live on the web and mobile wallet.
The design of the wallet is overall very relaxed and gives you a chill experience when using it for your daily transactions or for just checking how your portfolio is doing. We will keep a close eye on how their wallet will develop in the future and will make some updates to this review down below in case we deem it necessary.
For now, if you haven’t yet. Try out the SimpleHold wallet to see if you agree with our review.
SimpleHold performs perfectly and meets all the requirements of a good multi-chain wallet for any crypto user. So we decided to give the SimpleHold wallet a 4,-6 star rating out of 5 stars. Leaving some space for their upcoming new features. But with already a great crypto product that we ourselves like to use on a regular basis.
We were very happy testing out the SimpleHold wallet over the last few weeks and definitely believe that SimpleHold will rank 5 stars in the future. As their new features roll out for both mobile and web wallets.
Keep in mind that here at Yada we do not give financial advice or advice on which crypto wallet to use. However, we do share our opinion, and we believe that the SimpleHold wallet and the SimpleSwap service are recommendable for all crypto users around the world!
We really want to wish the best to the SimpleHold and SimpleSwap team, and its users alike. We hope this SimpleHold wallet review can be useful for their users and their future developments.
We hope you enjoyed our SimpleHold wallet review. In case you do not agree with our SimpleHold wallet review? You can test it out yourself and write your own SimpleHold wallet review on Yada Wallets today! And also don’t forget to check out what other people think about the SimpleHold wallet.
Extra note: As always check the date and the update of this review to see if it is relevant. Wallets can add new functions and change designs to improve their product so a bad review now won’t mean they can’t be great in the future.
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How to withdrawal from SimpleHold?
Withdrawing from the wallet is like its name, simple. Just press the “send” button, select the amount you want to send/withdraw, and then choose the address to who you want to send it. This works the same for every blockchain you have on your wallet.
Is SimpleHold active on social media?
You can find them on multiple channels. Here you can follow any updates regarding the wallet and any cool promotions they may do at the time.
Can I use SimpleHold for crypto trading?
Yes! If you want to trade from within their wallet that is totally possible. You can do it by using the SimpleSwap feature. But in the future, they will also allow other options for doing so with DEXes, etc.
Can I import my Metamask wallet into SimpleHold?
Yes, you can! As long as you have a private key for that wallet you can import it into SimpeHold. This goes not only for a Metamask wallet but also for Bitcoin wallets and wallets for all blockchains that they support. So if you want to go from Trustwallet or Exodus, it is all possible.
What are the SimpleHold wallet limits?
There are no wallet limits with SimpleHold. Because the wallet is non-custodial you are in full control of your crypto. So no one puts a limit on you. Or your funds. So if you want to sen 0.01$ or 1,000,000$ over the blockchain. That is all up to you.
Extra note: So as always check the date of this review to see if it is relevant. Wallets can add new functions and change designs to improve their product so a bad review now won’t mean they can’t be great in the future.