Opera’s Crypto Wallet – Get Started on Decentralized Finance (DeFi)

Wallet Reviews / 24.04.2020

While the potential of blockchain and cryptocurrency is only starting to gain interest with the general population, developers and innovators have been busy. They are continuously creating the infrastructure and applications needed to usher in the future of the internet, transactions, communication, and more.

Opera’s Crypto Wallet is one of such futuristic inventions that Opera launched in 2018 as an Ethereum-based built-in native cryptocurrency wallet for PC, Android, and iOS users. It lets you make secure online payments with cryptocurrency directly from your Opera browser to other users’ wallets, merchants, and decentralized applications (dApps).

Users can also store or receive crypto payments and other incentives like collectibles and tokens from other Ethereum-based dApps. Additionally, for Android users, Crypto Wallet uses Android’s highly secure lock to enable users to make transactions without needing additional PIN codes or passwords.

Crypto Wallet Available for PC, Android, and iOS Users

Opera is a Norwegian Software Company that first started a research project twenty-five years ago to become one of the most adaptive and progressive web browsers in the world today. By 2019, Opera had an active smartphone user base of 222 million, 65 million PC users, and a monthly total of 350 million active users around the world.

To support decentralized finance and its platform, Opera started by launching a Web 3 ready browser, Opera for Android, in December 2018, which it later integrated onto PC four months later, in April 2019. In June 2019, Opera launched the Opera Touch browser for iOS with Web 3 support two months later. Using Opera Touch, iOS users can seamlessly interact on the Ethereum Blockchain with other Web 3 applications.

Ethereum is a fast-growing blockchain ecosystem that allows users to make transactions using ETH cryptocurrency and enables developers to build all kinds of decentralized applications (dApps). It offers usability of ERC-tokens, stablecoins, and non-fungible tokens (NFT), all of which Opera now supports in the Crypto Wallet.

Opera is the first major browser to integrate web three functionalities. Web 3 is the next generation internet where blockchain technology is upgrading or re-inventing data storage and management using distributed data management systems. These systems extend ecosystems’ functionalities and enhance data security, user privacy, and browsing speeds.

Why should you get an Opera Crypto Wallet?

There are many monetary and informative reasons as to why you should get Crypto Wallet, and here are seven valid reasons:

  • It is free and secure.
  • It allows you to directly pay for goods and services with cryptocurrency from your Opera Browser to Coinbase Commerce merchants.
  • Send or receive cryptocurrency from other users and dApps straight from your browser.
  • Securely store (hold) your crypto funds and other collectibles and tokens from other dApps like CryptoKitties. Crypto Wallet supports all ERC20 tokens and some ERC-721 unique tokens and collectibles.
  • Make transactions from your desktop on the Opera browser. This feature allows you to interact with other dApps on Ethereum without having to use extensions.
  • The Crypto Wallet’s keys and backup phrase are installed on your mobile phone, where they remain secure in your device’s storage.
  • Familiarize with decentralized finance aspects such as cryptocurrencies, tokens, and collectibles and decentralized internet and dApps.

Get Your Opera Crypto Wallet

  1. First, install the Opera browser on your PC and go to advanced settings on the sidebar. Select Features and scroll down to Crypto Wallet and click enable.
  2. Install Opera for mobile and create either Opera Touch for iOS or Opera for Android. For Opera Touch, tap the three-dot menu in the upper right-hand corner to select settings. Scroll down to Crypto Wallet and tap the Activate button.
  3. Opera Crypto will then create a 12-word back up (Seed) phrase for you. Use this seed phrase in case your phone gets lost to gain access to your wallet. Keep your seed phrase very secure because without it, resetting your wallet is impossible, and your funds will be lost forever.
  4. Next, connect your PC Crypto Wallet with your mobile phone Wallet. Go to the Easy Setup button on the toolbar’s far-right edge and select Crypto Wallet under Features. You will see the Crypto Wallet icon on the sidebar.
  5. Now open the Crypto Wallet sidebar panel and Click Reveal the Code.
  6. On your mobile browser, go to settings and click Connect to Computer and scan the reveal code. If Opera Touch requests to use your device’s camera, permit it as it needs to scan the code. And that’s it. Your Crypto Wallet is ready for use and ready for a top-up.

How to Top Up Your Opera Crypto Wallet

Opera introduced Apple Pay or debit cards as payment methods for US and Scandinavian users to buy both BTC and ETH.

In partnership with Wyre brokerage firm in the US, android users can purchase cryptocurrencies using a debit card and Apple Pay for iOS users in less than 30 seconds. Payments will soon be available in other countries as well.

Crypto Wallet Will Play a Major Role in Mass Cryptocurrency Adoption

Opera is more than just a browser, and it offers many other unique features apart from the Crypto Wallet. Other unique features make Opera an ecosystem and one of the most advanced Browsers in the world.

The Opera native Crypto Wallet allows users to accomplish a lot and interact with many cryptocurrencies without leaving the decentralized ecosystem. Opera stated that while they believe all modern browsers should integrate a crypto wallet, Crypto Wallet’s development was further pushed by high demand from the crypto community.

“With a built-in Crypto Wallet, the browser has the potential to renew and extend its important role as a tool to access information, make transactions online, and manage user’s online identities in a way that gives them more control.”

Therefore, opera has realized that it takes more than infrastructure and excellent products to achieve mainstream crypto adoption. This has resulted in many partnerships and products aimed at availing decentralized services and familiarizing people with crypto concepts and terminologies.

Cryptocurrencies are mostly perceived as complex by the general population, and it makes people shy away from decentralized applications and especially decentralized finance. This extension of services expands interest in and growth of blockchain and crypto, and it’s one-way Opera is pushing for adoption of blockchain and crypto.

Featured image courtesy of Opera Blog.

Wayne is a Blockchain enthusiast and expert in crypto trading. Currently, he covers trendy issues on digital currencies.