A recent report from Chainalysis revealed crypto hacks caused $4 billion in losses in 2022. This highlights the growing threat as more hackers target crypto users with phishing, malware and other attacks. Many wallets like MetaMask use an account model that relies on private keys and seed phrases. This creates vulnerabilities as users have to securely manage sensitive credentials.
Kontos offers more robust security with its different approach. It utilizes a more advanced account model baded on EIP-4337. Instead of private keys, Kontos uses human-readable usernames and passwords. It also supports social recovery via guardians. This eliminates the risks of seed phrases. Kontos also enables features like multi-factor authentication and multi-party accounts. By removing single points of failure, the Kontos account model provides stronger protections against hacks and fraud.
With its EIP-4337-based account system, device authentication, and other security mechanisms, Kontos wallets offer robust safeguards without the hassles of managing cryptographic keys. This innovative approach aims to make non-custodial wallets more secure and user-friendly.
Kontos is an innovative new cryptocurrency wallet aiming to streamline crypto management. With its user-friendly design and time-saving features, Kontos can significantly simplify your workflow and reduce the effort required to manage your digital assets.
In this beginner’s guide, we’ll explore the Kontos wallet — explaining its key features and security benefits, and providing a step-by-step tutorial on how to set it up.
Let’s dive in and learn how to secure your crypto assets with this innovative wallet.
What is Kontos Wallet?
Kontos wallet, developed by Zecrey Team, is a non-custodial and decentralized wallet designed to store, send, and receive multiple cryptocurrencies. Powered by zero-knowledge technology, Kontos offers advanced features such as gas-less transactions, asset-less operations, and key-less transactions, revolutionizing the traditional blockchain ecosystem.
With Kontos wallet, users have full control and ownership of their accounts, stored securely on their devices. Additionally, it serves as a cross-chain wallet, enabling the storage and transfer of assets across different blockchains, making it highly convenient to trade and interact with various blockchain networks. Kontos wallet provides robust security, a unified interface for managing tokens from different blockchains and an enhanced user experience. It is an ideal solution for individuals seeking secure and seamless management of their assets and engaging with multiple blockchain platforms and various dApps.
Key Features of Kontos Wallet
Kontos wallet offers a range of compelling features that make it an excellent choice for storing and managing your crypto assets. Some of its key features are as follows:
Unified account: Kontos wallet provides a unified account where you can conveniently store all your crypto assets. This streamlines the tracking of your balances and simplifies the management of your investments.
No seed phrase: Unlike other wallets, Kontos wallet eliminates the need of a seed phrase for the users. Instead, it relies on a password and the device authentication and optional guardian mechanism to ensure the security of your funds. This simplifies the setup process and enhances usability.
Built-in Broker: Kontos wallet incorporates a built-in Broker feature that enables seamless interactions with dApps across multiple blockchains directly within the wallet interface. This seamless integration facilitates easy entry into cryptocurrency trading and payments without leaving Kontos. Users can exchange assets and provide liquidity conveniently. The Broker feature also serves as a gas and asset station, enabling users to pre-pay and pay for gas when conducting cross-chain transactions or native transaction calls on other blockchains.
Cross-chain compatibility: As a cross-chain wallet, Kontos wallet supports the storage and transfer of tokens across various blockchains. This versatility makes it an ideal solution for users seeking to trade assets across different exchange and blockchain networks.
In summary, Kontos provides an all-in-one experience for interacting with dApps, trading crypto assets, and making cross-chain transactions. All from within the user-friendly Kontos wallet.
What do You Need to Create a Kontos Wallet?
Docs to follow: https://docs.kontos.io/product-handbook/set-up-kontos-wallet/download-and-install-kontos-wallet-extension
To create a Kontos wallet, you will require the following:
- A computer to create a wallet
- A stable internet connection during wallet creation
- A strong password and the device authentication to access and secure your Kontos wallet
- Guardian’s Username(s) [optional]
Once you have these things, follow the given steps to create a Kontos wallet.
Download the Kontos wallet extension from Chrome Web Store (or other browsers) or download it directly from the Kontos website.
Either way will lead to Chrome Web Store Page and click on “Add to Chrome” and confirm it by clicking on “Add extension”. After installation, click the extension icon to view the extension and PIN it.
Once installed, the next step is to create an account:
- Click on “New Wallet”.
- Set up your wallet username or ID containing a combination of lowercase letters and digits, no more than 64 characters.
- Set up your recovery password.
- Click on “Continue”.
The next step is to “Set up a Guardian”, which you can also choose to skip. However, it is recommended to add some guardian(s), which will add extra security.
Let’s say you skipped adding the guardian, the next step to provide Device Authentication (e.g., provide a PIN that you have added to your computer windows.)
If you wish to add a guardian, on the page to Set up a Guardian, search for the Guardian username and click “Add”. You can add as many guardians as you wish. After adding it, click “Confirm”. Enter your Windows Hello PIN or password to connect your wallet to the specific device.
Congratulations, your wallet will be successfully created now.
How do I Deposit by Kontos Gateway (Cross-chain Bridge)?
Docs to follow: https://docs.kontos.io/product-handbook/set-up-kontos-wallet/kontos-gateway
You can deposit your assets using the Kontos Gateway (cross-chain bridge) when using extension wallets. To make such deposit follow the given steps.
- Go to Kontos Gateway website.
- Connect your wallet (MetaMask wallet). Your network should be the BNB Chain.
- Then Connect Kontos Wallet.
- Click on “Deposit” and select the token you wish to deposit. Enter your token amount.
Please note, currently, only BNB Chain is supported, so select your MetaMask network to enable it work as expected.
- Click “Approve” and confirm the transaction.
Check the balance, your deposited funds will be available in your wallet.
How to Use Kontos to Make Transactions?
Kontos has made it extremely convenient to send and receive funds with zero gas fee using the addresses ending with “.os.” at the moment.
Send Assets
Docs to follow: https://docs.kontos.io/send-and-receive-assets-on-kontos/how-to-send-assets-on-kontos
To send funds within the Kontos:
- Go to the homepage of your wallet and click “Send”.
- Select the assets you want to send.
- Enter the amount of assets to send and enter recipient’s address ending with “.os” suffix.
- Click “Next”.
- Verify the details and confirm the transaction to complete the process.
Note that the gas fee is zero now, which is totally fantastic to enjoy free transactions within the network.
However, if you wish to send Cross-chain assets on Kontos, the process is almost similar except that:
- Click on “Switch” to show the Broker assets after clicking on “Send”.
The rest of the procedure is the same, choose asset -> Amount -> Recipient’s address -> Confirm.
However, please make sure that this is a registered and valid Kontos account and that a cross-chain transfer has been made.
Receive Assets
Docs to follow: https://docs.kontos.io/send-and-receive-assets-on-kontos/how-to-receive-assets-on-kontos
Receiving funds on Kontos wallet is as easy as sending them to the recipient. If you have already made any cross-chain transfer by the Broker, you can initiate the transaction by directly sending your username to the sender or, instead, can send the QR code.
To receive funds:
- Go to the main page and click on “Receive”.
- Show the QR code to the sender.
And that’s it, funds will be available in your balance.
Benefits of Using Kontos Wallet
Kontos wallet offers numerous benefits for its users. Some of those are as follows:
Enhanced Security: Kontos wallet prioritizes security by implementing various protective measures including non-custodial approach with offline storage, password, and the device authentication to access wallet and recovering your account through social recovery method.
User-Friendly: Kontos wallet is exclusively designed for ease of use, even for beginners who were intimidated by the complexity of blockchain. It provides a simple and straightforward interface with clear instructions.
Rich Features: The Kontos wallet offers a diverse range of features such as send or receive assets, recover wallet, multisig & multi device wallet, unlimited guardian list, approve or reject transactions, check task, and history, or even reset your wallet, all at one place.
Supports Multiple Cryptocurrencies: Kontos supports a wide range of cryptocurrencies. So, you can store various cryptocurrencies in your Kontos wallet.
No Personal Information: You do not have to provide any personal information to create an account and use a Kontos wallet. This helps you protect your privacy.
Closing Thoughts
Kontos wallet is a non-custodial, cross-chain, decentralized wallets which offers both ease of use and robust security, offering a multitude of features. If you are the one who struggled storing and managing your crypto assets, then Kontos wallet is commendable choice to seamlessly manage assets and interact with different blockchains and dApps.
Ready to use the Kontos wallet? Install Kontos Extension right now by clicking the Download button located at the official website https://kontos.io.
Read more about Kontos wallet: https://docs.kontos.io/product-handbook/use-kontos-today
One Account, Infinite Possibilities
Use Kontos Today!
Glossary
Non-custodial Wallet: A non-custodial wallet, or self-custody wallet, is where the crypto owner is fully responsible for managing their own funds. The user has full control of their crypto holdings, manages their own private key, and handles transactions themselves.
Seed Phrase: A seed phrase is a series of 12 or 24 random words that provides the data needed to recover a lost or broken crypto wallet. It is also known as a mnemonic phrase and is best understood as a security measure for self-custodied digital assets. Both hot wallets and cold wallets can use a seed phrase for recovery.
ZKP: A zero-knowledge proof (ZKP) is a method of proving the validity of a statement without revealing the statement itself.
Cross-chain: Cross-chain is a technical term that refers to the interconnection of two or more completely separate blockchains. This allows the exchange of information and data, such as digital assets across blockchains that would otherwise be siloed from one another.
