Qredo Wallet is a web application that makes digital asset portfolio management fast and secure. It delivers institutional grade secure crypto storage and supports instant peer to peer transfers, and cross-chain swaps.
Built to scale the Qredo Wallet allows you to control access to digital assets across trusted parties, teams or organisations using simple but powerful roles and access rights.
With Funds, the Qredo Wallet allows you to manage collections of digital assets for example as a trading account, customize the governance rules, and monitor transaction activity.
With Qredo Wallet, you get 100% visibility over your transactions. You can review pending and actioned payment authorizations, and build a Trusted Party network of counterparties who you can securely and conveniently transact with at all times.
The Qredo Wallet is a secure platform where users have full control of their assets. We provide safe storage, quick and seamless transfers, and cross-chain swaps.
One of the main concerns with crypto assets is their storage. To be precise, storage of the private key. Keep it safe, and your assets are safe as well. Lose it or have it stolen, and you lose your assets forever.
- Exchange wallets are easy to use, transfers are seamless, and swap fees are low. But the exchange holds all the private keys. Exchanges have been hacked in the past, even the reputable ones, and private keys have ended up stolen. Exchanges aren’t the best storage option.
- Browser and desktop wallets are a tad safer. These wallets aren’t hack-proof, though. As long as you’re online, your browser/desktop wallets are at risk.
- Hardware wallets are also known as “cold” storage. With a hardware wallet, the information about your crypto assets is stored offline. Hardware wallets are as safe as the location they’re kept in - they can be physically lost, stolen or damaged.
Typically, having a small portion of your cryptocurrency assets on an exchange wallet is recommended. It’s advised that you store the bulk of your assets in cold storage. The browser/desktop wallets should serve as an intermediary between the two.
This is how it has been for a very long time. It’s also what makes the crypto world hard to understand.
However, Qredo brings an alternative to the table!
With Qredo Wallet, the private keys aren’t generated to begin with. Instead, Qredo uses the MPC architecture. The MPC network signs and validates transactions in a way that replaces the need for individual private keys.
Here’s the most basic way to describe this:
- Create a Fund, and assign Trusted Parties to a Transacation and a Withdrawal Policy, with appropriate approval thresholds.
- Initiate a transaction from the Fund.
- Authorize the transaction.
- Wait for the transaction to be approved by your pre-defined Approvers.
- Once/if the transaction is approved, it’s completed and submitted to the blockchain.
This is why generating individual private keys (for each user) on Qredo is unnecessary.Without private keys to get lost/stolen and with a number of Trusted Parties to approve or reject every transaction, your assets are safe within Qredo.
Add Approvers that you trust to your Qredo Fund, and they'll safeguard every vital action.
Qredo isn’t the only crypto asset storage solution with safety in mind. But most custody platforms require sending your assets to them, where the assets are locked away. In some cases, you can get your assets immediately, in others, there are release schedules. Either way, this includes moving your assets from one platform to another, which means withdrawal fees (GAS fees, for example).
Withdrawal fees are associated with Layer 1 blockchain actions. Qredo is a layer 2 network, which means we control the fees. Keeping the fees low is in our interest - we want to create a stable environment, where Qredo users can store, move around, and swap their assets.
Now, does moving assets into and out of the Qredo Wallet involve hefty transaction fees? Yes. But that's not the right question.
With secure storage, cross-chain swaps, and low intra-network fees, why would you want to step outside of Qredo in the first place?
Qredo is a wallet that’s actually an ecosystem. You can safely move your assets from one Fund to another and from user, to Organization, to other users. This all entails minimal fees, measly, compared to regular transaction fees.
Within Qredo, all transactions feature minimal fees - next to nothing compared to the regular transaction fees.
Qredo (Atomic) Swaps
To make Qredo a complete ecosystem, we’ve created Qredo Swaps and the Liquidity Hub.
Qredo Swaps allow you to exchange cryptoassets with other Qredo users, across different blockchains. The Swaps are almost instantaneous (once the Trusted Parties from both ends have approved the transaction), incur minimal fees, and are completely transparent on the Qredo blockchain.
The Liquidity Hub is a natural habitat for any Qredo Swap.
The Liquidity Hub is a live list of swap quotes that Qredo users have shared with the rest of the network. Every Qredo user can access the Liquidity Hub at all times and review the details of listed swap quotes. Provided they have the right amounts of right asset(s), any Qredo user can choose to take a swap. Alternatively, any user can create a swap quote of their own. Here’s how it works:
- Create a swap quote
- Share it directly with another Qredo user (quote tag) or share it on the Liquidity Hub.
- Wait for someone to take the quote and for the relevant Trusted Parties to approve it.