2021-11-5 11:26 |
Guarda Wallet is a secure crypto wallet that enables users to stake, exchange, earn and buy Bitcoin, Ethereum and thousands of other assets. Currently, they are focusing on increasing support for staked assets in Guarda Wallet and Guarda becoming validators for various assets.
Guarda also aims to become the ultimate one-stop solution for crypto management. They have added crypto loans. Invezz talks to CEO Paul Sokolov about these and other priories of his company.
Guarda is offering increasing support for staking assets. What does the process of becoming a validator for various assets involve?
Actually, it really depends on the network we are participating in as the consensus algorithms vary from network to network. Generally, it requires setting up a node with all the necessary settings, sometimes you have to get the approval of the network foundation to become a validator.
In most cases, there is some amount of coins required to become a validator. Sometimes there are more requirements like ‘your self stake must be x% of the total node stake’ and so on.
You have to make sure that your node is stable and it doesn’t miss blocks so you receive the block rewards and can share them with stakers. You should also ensure there is no downtime/ double signing.
Guarda has the goal of becoming a ‘one-stop shop’ for crypto management. What measures are you taking in that direction? What are the biggest challenges you face and how can they be overcome?
Yep, that’s correct. Well, as you probably know the list of features and services supported on Guarda is quite extensive. You can already do a lot of stuff with your crypto apart from the basic management: you can also buy, exchange, stake, delegate, send and receive crypto to multisignature addresses and smart contracts; you can issue your own tokens, and borrow tokens.
In the future, there will be even more things you can do with your holdings, stay tuned to learn more! As for the challenges, I do believe that one of the biggest challenges is that a very small number of people know and actually understand what cryptocurrency is and what the blockchain is. It might be difficult to use some crypto services if you don’t know the basic things.
But we already are working on this problem – there is a section on our website where you can learn more about blockchain and various cryptos – how it all works in general, how to use our services and more. Besides that, we do our best to make Guarda super convenient for both novices and experienced crypto enthusiasts.
I am pretty sure that once more people get a better understanding of crypto’s advantages, we will see significant growth in the adoption of blockchain/ crypto.
You are also focusing on integration between DeFi and traditional financial products. Crypto loans are one of your most recent offerings. Can you provide some details about them? What has been the reception from customers so far?
Sure. So it works pretty straightforward. You can easily borrow USDT or USDC by leaving your crypto as a collateral. You just need to choose what crypto you would like to use as collateral, select the payout address and collateral amount. You will receive USDT/USDC after the transaction confirmation.
The collateral will be sent to you after you pay off the loan. With this service, you can get 10% APR without any hassle, you don’t even have to go through KYC procedures and checks, like with other services. You can read more information here: https://guarda.com/loans/.
Release of Guarda debit cards is coming up. What advantages do your cards offer consumers? What are some advantages of a Visa/Mastercard-branded card? Any unique features you offer that your competitors don’t?
First of all, the utility. In a nutshell, it will be a super convenient way to make purchases because users won’t really have to think about anything. They will be able to buy anything they want even at a local shop with crypto without the need to convert crypto to FIAT- all the operations will be handled by us and our partners.
Guarda recently introduced a referral program and launched its own native token, GRD. What are some examples of use cases of the token? Is it Ethereum-based?
GRD is an erc20 token and its Ethereum based, yes. Currently, there is only one use case available: you will receive commission in case a user you invited to Guarda performs an exchange. In the future, there will be more options.
The list of use cases of the GRD token is going to be quite extensive:
You can already swap GRD tokens. Soon, you will also be able to receive GRD by staking, receive GRD as Cashback for purchases/ exchanges; get a discount on purchasing services with GRD tokens, like AML checks, HRA purchases or EOS account creation, and much more. You can check the list here: https://guarda.com/token/.
The post Q&A with Paul Sokolov, CEO of Guarda Wallet appeared first on Invezz.
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