What Is Gem Wallet?

Gem Wallet is a multi-chain and open source, self-custodial wallet application for all your Web3 activities. Users can send and receive assets, swap and stake cryptocurrencies, and also purchase crypto with fiat on Gem Wallet.

Key Takeaways

• Gem Wallet is an open source, self-custodial wallet for cryptocurrency investors.

• Gem Wallet enables users to manage their assets on multiple chains from a single interface. In addition to regular sending and receiving of assets, users can also perform advanced operations like swaps, staking, and on-ramp purchases from their Gem Wallet interface.

• Gem Wallet offers key advantages such as asset security, user privacy, and a simplified interface for managing crypto assets.

• The Gem Wallet application is available for Android and iOS devices and can be downloaded from the respective official application stores.

With a focus on simplicity, user privacy, and asset security, Gem Wallet aims to tackle the key challenges of cryptocurrency wallet applications: complexity and security risks. Gem Wallet has over 15,000 users so far, enabling them to swap more than 1,000 crypto assets, buy crypto with credit cards, and even stake cryptocurrencies for up to 18% APY, while ensuring that their assets remain secure. 

In this article, we’ll look at Gem Wallet and its key features, and how users can access the various utility features of Gem Wallet.

Introducing Gem Wallet

Gem Wallet offers a simplified user interface, enabling users to easily swap, buy, stake, and transfer crypto easily, while maintaining full custody of their assets. Gem Wallet supports over 30 blockchain networks, including Layer 2 networks and token standards like ERC-20, BEP-20, SPL, TRC-20, jettons on TON blockchain, and more. Users can connect to any of the supported networks and manage their assets from their Gem Wallet. In addition to the basic asset management operations, Gem Wallet also enables users to perform other asset management operations like in-wallet swaps.

The in-wallet decentralized swap feature enables users to securely exchange their assets without leaving the wallet interface. It connects to supported decentralized exchanges and liquidity solutions to complete asset swaps on-chain. 

Other features available on Gem Wallet include staking and connecting to decentralized applications. Gem Wallet enables users to leverage the native staking facilities of POS networks from the wallet interface, where holders of assets like SOL, TON, TIA, and ATOM can stake and unstake their assets from their Gem Wallet interface. See the full list of assets that can be staked on Gem Wallet. Also, through the WalletConnect integration, Gem Wallet users can easily connect their wallets to supported dApps.

Gem Wallet is available for download on mobile devices on Google Play and App Store. 

Gem Wallet: An Open Source Crypto Wallet

Gem Wallet is an open source cryptocurrency wallet, where its code is open source on github, allowing anyone to check, verify, and contribute to the wallet code. As an open source crypto wallet, Gem Wallet promotes a decentralized approach, as anyone can use the code, inspect it for bugs, or propose new changes or features. 

It invites contributions from developer communities and individuals who wish to improve the wallet features. As an open-source application, Gem Wallet attains another key feature – transparency – where users can ensure there is no hidden malicious software, creating a safe environment to hold your cryptocurrency.

Additional Key Features of Gem Wallet

Asset security: Gem Wallet claims to use advanced encryption and secure key management technology to improve the security of assets managed via its platform. As Gem Wallet is a self-custodial wallet, users maintain sole custody of their wallet keys. Gem Wallet also supports biometric security features, enabling users to secure their applications with their fingerprints.

Transaction privacy: Gem Wallet also offers transaction privacy. According to the project, the built-in privacy tools protect users’ transactions.

Simple and intuitive user interface: Gem Wallet removes the complications of using cryptocurrency wallets. It presents a simple and intuitive interface, enabling every user to easily navigate the wallet and its features.

On and off-ramp crypto trading: Gem Wallet connects to independent crypto trading services to enable on and off-ramp cryptocurrency conversion. From the Gem Wallet interface, holders can convert their assets to traditional currencies or purchase crypto using traditional banking services.

Now, let’s look at how to get started with Gem Wallet.

Installing Gem Wallet

Gem Wallet is available on the Apple Store for iOS devices and the Google Play Store for Android devices. You can also opt to download and install the APK. 

1. Download Gem Wallet. In this example, we are using Google Play. 

2. Wait for the installation process to complete and the application is ready for use.

3. Open the application to start your setup process.

Setting Up Gem Wallet

You can import your old wallet to Gem Wallet or create a new one.

Importing a Wallet

To import an existing wallet:

1. Click Import an Existing Wallet.

2. Select the type of asset or wallet you wish to import.

3. Enter the wallet’s secret recovery phrase and click on Import to continue.

4. You have successfully imported your wallet to Gem Wallet.

Creating a New Wallet

1. Click Create a New Wallet.

2. Your wallet passphrase will be displayed on the next page. Copy your 12 word security phrase and click Next to continue.

3. On the confirmation page, enter the passphrase in order and click on Continue.

Always store your wallet’s secret recovery phrase carefully – should you lose your secret recovery phrase, you will lose access to the wallet. We recommend storing your secret recovery phrase offline, ideally on crypto steel.

When done, your wallet will be created and ready for use.

Adding Biometric Security

To improve your wallet’s security, you can add biometrics as an additional security measure to your login process.

1. Click Settings from your wallet homepage to navigate to the settings page.

2. Click Security to proceed

3. On the Security page, toggle the Enable Passcode switch to activate biometric security for your wallet.

Send and Receive Tokens With Gem Wallet

Gem Wallet is a multi-chain wallet that supports major chains, including Solana, TON, Sui, and more, allowing users to transfer and swap tokens and domains. 

Gem Wallet makes payments easy, as you can easily send and receive assets by adding your most-used cryptocurrencies to your wallet homepage.

1. To do this, click Manage Token List.

Users can also add custom tokens by using the token’s contract address, which can be retrieved from the token page on CoinGecko.com.

2. Search the asset you wish to add to your homepage using the search bar.

3. Toggle the switch icon to add the asset to your homepage.

Receiving an Asset With Gem Wallet

1. To receive an asset, click on it from your homepage.

2. Click on Receive to proceed.

3. Copy the wallet address by clicking on Copy, or send the QR code to the sender.

You can now use the copied wallet to receive the asset.

You can also receive an asset without adding it to your wallet’s homepage.

1. Click Receive from your homepage.

2. Search for the asset using the search bar.

3. Click on the asset to reveal the address.

4. Copy the address by clicking Copy, or share the QR code with the sender.

Send an Asset With Gem Wallet

1.  To send an asset, click Send from the asset page.

2. Enter the address and click Continue to proceed.

3. Enter the amount you wish to transfer and click Continue to proceed.

4. Click Confirm to complete.

You can also send assets without adding them to your homepage.

1. Click on Send from your wallet homepage.

2. Select the asset from the list of available assets.

3. Enter the address and click Continue to proceed.

4. Enter the amount you wish to transfer and click Continue to proceed.

5. Click Confirm to complete.

How to Buy Tokens on Gem Wallet

Gem Wallet allows users to buy many crypto assets with fiat through its platform, providing an easy way for users to purchase crypto without leaving Gem Wallet.

1. Press Buy from your homepage.

2. Search for the asset you wish to buy using the search bar.

3. Click on the asset to proceed

If the asset is already visible on your homepage, you can simply click on the asset and select Buy from the asset’s page to proceed.

4. Enter the amount you wish to purchase.

5. Click Continue to proceed.

6. You will be redirected to the third-party on-ramp service to complete your trade.

Swap Assets on Gem Wallet

You can also use your Gem Wallet for on-chain swaps, and enjoy competitive rates for your crypto swaps with multiple exchange providers to choose from.

Learn more about swap features within Gem Wallet here.

1. Click on Swap from your wallet homepage or the asset page.

2. Select the assets you wish to swap and click Swap to proceed.

3. Review the swap terms and click Confirm to complete.

The swap request will be routed through a decentralized exchange, and swapped assets will be available in your wallet once your transaction is completed on-chain.

Also, note that both assets must be from the same network for your swap to be successful.

Stake Assets on Gem Wallet

You can also stake and earn supported crypto assets through Gem Wallet. By staking your tokens, you can enhance the platform’s security and efficiency while receiving rewards in the form of additional tokens. Assets supported for staking on Gem Wallet include: BNB, TIA, ATOM, SOL, TRX, MATIC, Sei, and more. 

However, do note that there is a lock time for staked assets, during which you will not be able to withdraw them from the platform. 

Learn more about staking on Gem Wallet here.

To stake POS assets via your Gem Wallet:

1. Add the asset to your homepage.

2. Click on the asset from your homepage to open the asset page.

3. Click Stake to proceed.

4. On the staking page, click on Stake from the top of the page to enter your staking details.

5. You can enter the amount you want to stake and select a validator of your choice.

6. Click on Continue to proceed.

7. Review the staking details and click on Confirm to complete.

Connect to dApps with WalletConnect

WalletConnect is an open-source protocol that lets users connect their wallets to dApps and other wallets. Here’s how to connect to a dApp with your Gem Wallet.

1. Visit the application’s page on your desktop or secondary device.

2. When connecting your wallet, choose WalletConnect to display the QR code.

3. On your Gem Wallet, click Settings from the bottom menu of your homepage.

4. On the Settings Page, click on WalletConnect to proceed.

5. Click on the QR code scanner icon from the top right corner.

6. Scan the QR code to connect to the platform.

Click here for a more detailed guide around using WalletConnect.

Final Thoughts

Gem Wallet enables anyone to navigate the crypto space easily, from transferring and receiving crypto assets, to staking and connecting to decentralized applications. In this article, we’ve looked at some of the key features of Gem Wallet and how you can get started with them. However, when installing and interacting with any applications, always ensure that you are downloading them from the official source, and also ensure that you are connecting your wallet to the dApp’s official site, as there are phishing sites out there that aim to convince unsuspecting users to part with their secret recovery phrase and / or connect their wallet. 

Note that this article only reviews the Gem Wallet and serves as a guide for new users of the wallet. It should not be taken as financial advice, and any applications mentioned are only meant to serve as examples and should not be taken as an endorsement.

Join the Gem Wallet community:

Star our Github: https://github.com/gemwalletcom/

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Join our Telegram and Discord Communities: https://t.me/gemwallet | https://discord.gg/4jpxtwT8r6