Finally, a wallet that’s as smart as you – the Obvious Smart Wallet!
In another post, we introduced you to our smart contract-based crypto wallet, which offers an enhanced user experience compared to traditional wallets. Obvious smart wallet is powered by account abstraction, made possible through EIP-4337 on the Ethereum network. Now, it's time to take a closer look at how you can start using the Obvious Smart Wallet and take advantage of its amazing features. In this guide, we'll walk you through the process of setting up your Obvious Smart Wallet in a step by step comprehensive guide.
Step 1: Download the Obvious Smart wallet
Step 2: Create an Obvious Smart Wallet
Click on the option of ‘Create now!’. It will take maximum upto 10 seconds to create your Smart wallet.
Step 3: Backup your Wallet
Once your Obvious smart wallet is created, backup your keys so that you don't lose access of your wallet. Backing up your wallet is important so that you can use this wallet on another device or to access the wallet if you uninstall the app. Obvious has Seedless recovery which makes the process of backing up your wallet safe, simple and secure.
Seedless Recovery is an MPC-based backup and restore method for your wallet. Your seed phrase is split into 3 parts called keys which are stored in 3 different locations. They are as below. You only need 2 out of the below 3 keys to restore your wallet.
- Device Key: This is stored on your device
- Social Key: You can share this with a trusted party
- Cloud Key: This is stored on Google drive
Splitting your seed and storing is safer than storing it as a whole, preventing it from getting exposed and exploited. This also helps in case you lose one of your keys as you can still recover your wallet with the other 2 keys. You can also choose to back up your wallet manually with a seed phrase (not recommended) or use seedless recovery to backup your wallet.
Step 4: Fund Your Wallet
Now that your wallet is set up, add funds to start using your wallet. To experience the true power of Smart wallet, fund your wallet with a token other than the native chain token on which you wish to transact. To do this, simply navigate to the "Fund your Smart Wallet now!" option at the top of the home screen. You can use different options as shown on the screen below. You can also buy crypto and add funds directly in your Obvious Smart wallet.
Step 5: Execute transactions with just a single click and in a gas fees of your choice!
Initiate a transaction within the Obvious app. Let’s say you want to swap USDC to DAI on the same chain. Go to ‘Transact’ at the bottom of the Obvious app, and then select ‘Swap’. Select the smart wallet you created in the above steps. Let’s swap USDC on Polygon to DAI on Polygon.
With Obvious Smart wallet's Pay any feature, you can pay gas in an ERC-20 token of your choice. In the above screen, click on the down arrow next to Matic in the ‘Gas’ option, to select a token of your choice to pay gas. You don’t always need to have extra tokens of the chain (MATIC in this case) for the transaction.
Usually swapping your tokens involved approving and signing the transaction multiple times. With Obvious smart wallet powered by account abstraction, you can swap your tokens with just a single click. Approving and signing the transactions happens together.
Transacting using Obvious Smart wallet is as easy as it can get. Try out a Transaction today to step into the future.
Explore More Features (Coming Soon)
The Obvious Smart Wallet is continuously evolving, with more features powered by account abstraction set to be released in the near future:
- Support for additional chains.
- Ability to gas fees in the token you are transacting with.
- Spending limits for your wallet.
- 2FA for your wallet.
- Obvious card powered
Follow the steps outlined in this guide to get started with your Obvious Smart Wallet. Make the "obvious" switch now, and stay ahead of the curve!