FAQ
What is Obvious?
Obvious is a self-custody wallet that brings together assets across EVM chains and powers your cross-chain transactions by giving you safe, fast, and affordable bridging & swapping routes within the app.
Who are the team members behind Obvious?
Obvious is being built by a team that has deep crypto experience. The three founders together have 25+ years of experience in building consumer-focused applications pan Asia. Together the team has seen 1 billion-plus app downloads.
Where is Obvious incorporated?
Obvious is incorporated in Delaware, USA, and has presence in Bangalore and Dubai.
In which countries does Obvious operate?
Users in more than 65+ countries trust Obvious as their choice of self-custody wallet.
How can I download Obvious?
Obvious is live on the app store and play store in all countries and across all devices. If for some reason, you cannot download the Obvious app do let us know.
What are verified / unverified tokens?
Tokens listed on CoinGecko are labelled verified while all others are labelled unverified.
What's obviousdemo.eth? Why do I see it in my Obvious app ?
Obviousdemo.eth is a test read only wallet present by default in your Obvious app. You can remove this wallet by going to More --> Wallets --> Click on Obviousdemo.eth and remove from there.
How secure is Obvious Wallet?
Obvious is a self-custody wallet and does not take custody of your funds. The private keys are only stored on your local device in a secure enclave and never backed up to any servers. The secure enclave can be accessed only through your biometrics such as face ID and fingerprint scanners.
Also, you can connect any wallet connect compatible wallet in Obvious, if you don’t wish to import your seed phrase or keys.
Additionally, we are also working on a MPC-based seed recovery mechanism to further secure your keys.
Does Obvious take custody of my funds?
Obvious is a self-custody wallet and does not take custody of your funds. Only you are in control of your funds at all times.
How does Obvious store seed phrase/security key
The private keys are only stored on your local device in a secure enclave and never backed up to any servers. The secure enclave can be accessed only through your biometrics such as face ID and fingerprint scanners.
What happens to the Obvious app if I lose my mobile phone?
To start using the Obvious app, you need either faceid or fingerprint authorization. In case the mobile resets, all the data on the Obvious app also gets deleted but your funds still remain safe on-chain.
What happens to the Obvious app if I delete the app?
Obvious does not store any data on any server. If you delete the app, all the locally stored data gets deleted from your phone and you will have to start all over again.
Can I connect to third-party dApps?
Obvious lets you connect to any third-party dApp using the wallet connect feature.
What happens to my funds if Obvious shuts down?
Obvious does not take custody of your funds. In the unfortunate case of Obvious shutting down, your funds remain safe on the chain and you can continue to use the Obvious Wallet or export your keys & access your funds on other wallets.
Is Obvious App audited?
Yes, the Smart contract wallet that powers our wallet is audited. You can find the audit reports here.
How is Obvious crypto card different from other cards?
Most of the popular cards in the market today are issued by centralised exchanges and are backed by the assets they hold on your behalf. Trusting centralised exchanges with your funds introduces an element on risk.
Obvious card, on the other hand, is backed by Obvious self-custody wallet, which means you are always in full control of the funds you want to spend and can operate without any concerns.
Where can I use the Obvious crypto card?
The Obvious card can be swiped globally at any Visa POS machine.
What are the fees associated with using the Obvious crypto card?
We don’t charge consumers for domestic transactions. We also don’t charge any issuance or yearly fees.
We levy a 1% transaction fee for cross-border transactions, when currency is converted from one to another.
We levy a 1% transaction fee foreign exchange fee for purchases made outside US.
How do I use the Obvious crypto card?
Download Obvious App. Signup for a card and create a smart wallet on the Obvious App. Fund the wallet with USDC and spend it just like any other card. We ensure that while you pay in Crypt,o the merchant receives FIAT.
Is it legal to use the Obvious crypto card?
Obvious card is a card on VISA network and is just like any other card out there.
Does Obvious crypto card work for International payments?
Yes, you can use Obvious card for purchases made outside USA.
We levy a 1% transaction fee for cross-border transactions, when currency is converted from one to another.
We levy a 1% transaction fee foreign exchange fee for purchases made outside US.
What is the cost of doing a Transaction on the Obvious app?
For executing a transaction, there are 2 components or costs involved. Gas fees and Transaction fees. Transaction fees comprise the Obvious fees and DEX/Bridge fees. At Obvious, we sift through 30+ DEXes and Bridges to find the cheapest and fastest route for facilitating your transaction.
What are gas fees?
For executing any sort of activity on the chain, there is a cost attached to completing the transaction. These are gas fees and vary based on the network, congestion, and other factors. 100% of these fees go to the network. Obvious has no control over these fees. Usually, gas fees are paid in the native token of the network. Using Obvious’s Smart Wallet, you can select the token you want to pay the gas fees.
What are Transaction fees?
These are the fees charged by third-parties apart from the blockchain network to facilitate your transaction. These comprise of Obvious fees and DEX/Bridge fees.
What is Obvious fee?
Obvious charges a small percentage when you do a swap or bridge transaction on the Obvious app. This is a fixed fee and does not change irrespective of network congestion or the number of tokens being transferred.
What are DEX/Bridge fees?
When doing a swap or bridge transaction, DEXes, and bridges, charge a certain fee for enabling the conversion. These fees let them maintain the service. 100% of these fees go to the relevant parties and Obvious has no control over the same.
What is Smart Wallet
Obvious creates a Smart Contract based Wallet for you called Smart Wallet. There are a lot of advantages of a Smart Contract over other wallets like improved security, ability to customize wallet, batch transactions and also remove the hassle of managing seed phrases. Smart Wallet is based on the ERC-4337 proposal. A lot of new features are being added to the Smart Wallet in the future.
What chains does the Smart Wallet support?
Smart Wallet is currently supported on the Ethereum and Polygon Chain. We are working on adding more chains to the list.
What is Pay Any?
Pay Any is a feature that lets you pay gas fees in a token of your choice. When transacting on the chains that support Smart Wallet, you don’t have to pay gas fees in the native token of that chain.
How to use Smart Wallet?
Download Obvious and create a new wallet. A Smart Wallet will be created for you in the Obvious app. Fund your wallet and you can start using it.
How to recover Obvious Smart wallet?
Smart contract wallets have an underlying EOA wallet as a signer. This means that you cannot recover your wallet on other wallet apps. Even if you recover, it will only recover the EOA wallet and not the Smart contract wallet.
What is Seedless Recovery
Seedless Recovery is an optional MPC-based wallet backup and recovery mechanism. Using this method, your encrypted seedphrase is split into 3 keys or parts. You can then store these 3 parts in 3 locations with 3 clicks. The 3 keys are as below:
Device Key: A part of your seed phrase is stored on your device.
Social Key: Share a part of your seed phrase with a trusted third party as a QR code image.
Cloud Key: Upload a part of your seed phrase on google cloud so that it can be retrieved again later.
If you want to restore your wallet you only need to enter 2 out of the 3 keys mentioned above.
How safe is Seedless Recovery?
Seedless Recovery encrypts and then splits your seedphrase into 3 parts. This is safer than storing complete seedphrase in case of exposure. The 3 keys of your wallet are stored in separate locations to prevent complete exposure. You need 2 out of the 3 parts to safely recover your wallet.
The 3 keys are encrypted and stored in the 3 different locations. This further increases the complexity of decrypting the key even during an exposure.
How safe is storing seedphrase on the cloud?
Your complete seedphrase is not uploaded to the cloud. 1/3 of your encrypted seedphrase is stored on the cloud. Even if someone is able to access your key on the cloud, they would still have to decrypt your key and get access to the other 2 keys.
What happens if I lose/change my mobile phone?
Seedless recovery has 3 keys and you only need 2 out of those 3 keys to recover your wallet. You can use the cloud and social key to recover your wallet.
What happens if someone steals my mobile phone?
To start the backup and recovery process through Obvious, biometrics is compulsory. In case, someone actually gets past this stage and gets access to the device key, they would still need another key to recover your wallet.
What happens to the device key if I reset my phone?
In case of a phone reset, you will lose your device key, but you can still use the cloud and social key to recover your wallet.
Can I use Seedless Recovery on other wallet apps?
You cannot use Seedless Recovery to recover your wallet on other wallet apps. If you want to import your wallet to another app, copy your seedphrase by going to More—> Security and Backup —> show my secret phrase.
How many wallets can I backup using Seedless Recovery?
Using Seedless Recovery, you can backup all derived wallets originating from the same seedphrase. Seedless Recovery backups only one seedphrase.
Why should I use Seedless Recovery over other backup mechanisms?
If you do a manual backup, the chances of losing or forgetting your seedphrases are very high.
Splitting your seedphrase is recommended as it safeguards your seedphrase in case of exposure. Seedless recovery provides a considerable advantage over manual ways of storing your seedphrase.
I want to use another wallet app. Can I get a seedphrase if I have opted for the seedless recovery?
Yes, copy your seedphrase by going to More—> Security and Backup —> show my secret phrase.
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