The Aptos ecosystem has gained massive popularity in the last few months. This high speed Layer 1 blockchain was finally released last month and for those looking for a great wallet option for the ecosystem, Pontem is one of the top options
In this article, we take a look at some of the features of the wallet and how you can use it.
What is Pontem Wallet?
Pontem is a wallet that markets itself as the safe gateway to the Aptos ecosystem. It allows you to buy and sell APTOS Tokens and much more available in the blockchain. Above all the wallet is non-custodial which means that it puts the control of assets completely in the hands of the user. Pontem also provides a safe and fast way to interact with the various applications that come up on the Aptos ecosystem. They are known for also having a great NFT support system.
What functionalities does Pontem offer?
- It supports tokens like APT, BTC, USDT, USDC, MOVE, tAPT, etc
- It comes with a Faucet feature using which you can gain free tokens
- Pontem is also integrated with Liquidswap. Liuidswap is a very popular AMM (Automated Market Maker) used by Aptos that has made Decentralized exchange very easy in the ecosystem.
- It has the Liquidsawp Bridge which lets you transfer ETH, WETH, and USDC from Ethereum to Aptos and vice-versa.
- Pontem is known for the huge variety if dApps it is connected to. These dApps have programs from various categories like NFT marketplaces, Trading & swaps, Liquid staking protocols, Yield aggregator, Launchpads, Prediction Markets, etc
- NFT minting is simple and inexpensive on the wallet and it also allows you to connect major NFT marketplaces on Aptos.
How to use the Pontem extension to create an Aptos wallet?
Step 1: Download the extension on your chrome browser by clicking here
Step 2: Click on Create Wallet
Step 3: Create a strong password that has low predictability
Step 4: Click on Create
Step 5: Once your wallet is created click on Finish to complete the process
Step 6: After the wallet is created click on the resolve to find your seed phrase. This phrase is the only way to recover your account and must not be shared with anyone
How to import an already existing Pontem wallet?
If you have already created a wallet previously then follow these steps
Step 1: Click on Import wallet
Step 2: Enter your seed phrase and new password
Step 3: Once done you’ll be able to access your wallet.
Pros of Pontem wallet
The Pontem wallet is a great wallet option in many ways. Some of its stand out benefits are:
- It is embedded with Decentralized Finance and similar principles
- Thorough auditing is done for the wallet
- The Pontem wallet allows you to have sole control of your funds
- Stablecoin swaps are available from the wallet
- NFTs can be easily minted at almost no cost
- Pontem wallet links you to the Aptos testnet, the mainnet and the native token.
- The gas fees are very low
Cons of Pontem Wallet
Pontem wallet may seem like the best option but it is not without its own disadvantages. Some of the cons of the wallet are
- It is not available as a downloadable app on iOS or Android devices.
- Built-in swaps are still under development
- There are no NFT or dApp notifications on Pontem
- PFP customisation is absent on the wallet
- Pontem wallet is also missing an address book
To conclude
Pontem wallet is the “First production-ready wallet for Aptos” and hence comes with several advantages over other Aptos wallets. However, it doesn’t mean that it is the best option for you since every user has different needs. Hence, you must make it a point to learn about the wallet in great detail and make your decision after weighing both the pros and cons.
