Rainmaker Wallet—Secure & easy-to-use universal Web3 wallet
Argent—Layer 2-driven wallet
Safe—Popular for governance/collaborative structures
Sequence—Best for Web3 gaming
Account abstraction has taken the fintech and crypto worlds by storm as developers and investors recognize the true power of smart contracts on Ethereum.
With features like account or social recovery, direct dApp interaction, multisig capabilities, and gas fee-saving mechanisms, account abstraction wallets are setting a new standard for crypto asset management. They provide a more user-friendly approach to self-custody compared to wallets that rely on seed phrases.
Smart contracts have been a part of Ethereum since its launch, but the market for such products truly took off during the ICO frenzy of 2017. While some veterans have become leaders in this category, fresh players and visions are reshaping the road to Web3.
Let’s explore the top 5 account abstraction wallets for 2023 and how they leverage the power of smart contracts:
Rainmaker Wallet
Launched as an account abstraction native solution, Rainmaker Wallet offers advanced features like batching transactions, multisig capabilities, and fee payment in stablecoins on multiple chains. The team behind Rainmaker Wallet focuses on delivering a user-friendly interface with high levels of security and operational complexity. This approach makes it a versatile tool for both newcomers and experienced crypto users. Rainmaker Wallet was also the first to offer gas fee-saving mechanisms, providing free transactions and one click access to DeFi. Additionally, Rainmaker Wallet introduced email and password sign-up, bridging the gap between Web3 technology and Web2 user experience best practices. With its comprehensive DeFi features, including an in-built bridge, earn and swap functions, and a dApp Catalog, Rainmaker Wallet caters to a wide range of crypto users. It currently supports 10+ EVM chains (Layer 1 & Layer 2) with plans to expand further.
Argent
Argent is an impressive smart contract wallet that targets newcomers to crypto and focuses on Layer 2 operations. Originally from France, Argent was part of the pioneering projects in account abstraction. It offers top-notch smart account features such as social recovery, multisig capabilities, fee payment in stablecoins, and high-speed multicall operations. Argent prioritizes secure self-custody at affordable costs and is currently deployed on Ethereum Mainnet and Layer 2 chains like zkSync and StarkNet. This strategic configuration aligns with the brand’s vision, emphasizing the networks they consider the operational working chains of our future Web3. Argent is available on iOS and Android, and Argent X, specifically designed for StarkNet, functions as a browser wallet.
Safe
Safe emerged as an independent entity in 2022 after spinning out from Gnosis, a German tech company that builds and maintains the Gnosis ecosystem. Safe, previously known as Gnosis Safe, is one of the oldest smart contracts deployed on Ethereum. It focuses on securing custody protocols and establishing a better ownership standard. Safe’s philosophy centers around autonomy and collaborative ownership, which has proven successful as it currently holds the largest share of on-chain funds in the crypto wallet space. Safe excels at offering solutions for collective asset management and is the preferred tool for DAOs and collaborative platforms. It supports over 12 EVM chains and provides advanced multisig options, transaction simulation, and an internal app store for Web3 application interaction. Safe prioritizes security over user flow streamlining, resulting in a slightly complex interface that beginners in crypto may find daunting. Safe is available as a mobile app for Android and iOS, as well as a web app.
Sequence
Sequence Wallet has steadily gained popularity since its late 2022 launch and is developed by Horizon, a blockchain company backed by impressive investors. Initially conceived as a FinOps solution for B2B, Sequence Wallet has incorporated the best practices and innovations in the account abstraction space, making it a valuable tool for direct consumer segments as well. Similar to Ambire, Sequence Wallet strives to deliver a seamless Web3 experience and utilizes a complex tech stack across multiple networks. The gaming DNA of the parent company is reflected in Sequence Wallet’s offerings, making it an excellent choice for gamers in the Web3 space. Its features include quick fund transfers between games, support for game-specific tokens, and an integrated chat system. Sequence Wallet is available as a web app for desktop and mobile.
Conclusion
Account abstraction is revolutionizing digital asset management, providing users with unparalleled flexibility and control in the crypto world. These smart contract wallets have the power to fuel Web3 and pave the way to our future digital landscape.
Whether you’re an experienced crypto enthusiast or a newcomer, the best account abstraction wallets available today offer a range of features that enhance and simplify your crypto experience, both on mobile and desktop.
The battle between account abstraction mobile wallets and their browser or desktop counterparts will be intriguing to witness. With the goal of driving the new digital revolution and converting billions to crypto, builders and developers will undoubtedly bring their best to the game.
