Ethos Brings Coin Swaps to the Universal Wallet

In recent breaking news, we publicized our exciting partnership with ShapeShift to allow coin swaps in the Universal Wallet. This article explains the new features we will be releasing to our users and how it will all work.

With the launch of the Universal Wallet, we gave our users the ability to store, track, send and receive over 100+ cryptocurrencies. With an entire division of our dev-team purely focused on new token integrations, in the coming weeks and months users will see the addition of the most popular and highly-requested tokens to be fully supported in the wallet.

And now, enabled by our partnership with ShapeShift, all Ethos Universal Wallet Users will be able to Swap between different types of cryptocurrencies, with speed, ease and security without ever leaving your wallet!

Users will always maintain self-custody of their tokens and their private keys, ensuring decentralized control of all tokens during their swaps, without taking on the risk of using centralized exchanges.

With the integration of ShapeShift into Universal Wallet, our users can:

  • Turn your Ethereum into Bitcoin
  • Turn your Bitcoin into Litecoin
  • Essentially, swap any coins for one another supported by both Ethos & ShapeShift
  • All safely and securely within your Universal Wallet with private keys you control

The Benefits of Using Ethos Universal Wallet & ShapeShift for Token Swaps

Convenience – At the click of a button, you can swap a token you currently hold and easily exchange it for another. With Ethos & ShapeShift, you no longer have to send your crypto to a centralized exchange, wait for the deposit, transact one coin, potentially sell into Bitcoin or Ethereum as a trading pair, and wait and process your withdrawal from the exchange. Only then sending it back to your wallet for safe-keeping.

Ease of Use – By using the Universal Wallet, you can easily select the wallet addresses instead of having to deal with writing or pasting public addresses across multiple platforms. If you want to send someone a specific token you don’t have in your wallet, you can do a swap and then scan their QR-code for easy sending.

It’s Safer – Eliminate the risk of being redirected to a phishing site instead of an exchange, sending to the wrong public address when transferring between exchange and your wallet, or being subjected to an exchange hack. No more sleepless nights wondering if your crypto is safe.

How It Will Work – Want to know how you will be able to exchange between cryptocurrencies with Ethos Universal Wallet x ShapeShift? Here is the breakdown.

This is a draft UX design for prototyping purposes, actual UX may vary.

The 5-Easy Steps to our Upcoming Coin Swap Feature

  1. You need cryptocurrency in your Ethos Smartwallet
    • Download the Universal Wallet from the App Store
    • Create your Account
    • Create a SmartWallet
    • Deposit cryptocurrency into your SmartWallet
  2. Tap on the coin within your wallet that you want to exchange and select “Swap”
  3. Choose the coin that you want to receive in exchange
  4. Review the transaction and tap “Confirm Swap”
  5. Authorize your swap transaction using your biometrics/PIN

The Result: A Successful Coin Swap in the Universal Wallet!

You will see the coin that you are swapping leave your wallet, and shortly after the new coin will be added to your SmartWallet. It’s that easy.

In Summary

This is one of many new exciting features that will be coming soon to enhance the Ethos Universal Wallet. Our developers are hard at work programming this exciting new feature, so stay tuned for future announcements when it’s ready for release, and coming to a Universal Wallet app near you.