Ultimate is a non-custodial cryptocurrency DeFi mobile wallet application focused on user friendliness and blockchain simplification.
What Is Ultimate And How Does It Work?
Ultimate is a wallet application built to be usable and understandable even by newcomers to the DeFi ecosystem. The development of Ultimate was inspired by the complexities of the blockchain ecosystem and the need to simplify it without sacrificing the underlying concepts. It provides a range of unique wallet features, including a real-time multi-chain tracker and a candlestick chart. Another distinctive feature of Ultimate is its alluring user interface (UI) and smooth user experience (UX); it’s arguably the best crypto wallet in terms of design and user experience.
Ultimate was developed by a Berlin-based company called Unstoppable Finance and was launched on iOS on November 2nd, 2022, initially as a Solana-based cryptocurrency wallet. The Solana blockchain was chosen for its high scalability and low transaction fees. Four months later, on March 6, 2023, Ultimate launched on the Ethereum blockchain as an initial step towards actualizing its vision of being a multi-chain DeFi wallet. Sixteen days later, on March 21, 2023, the Ultimate wallet app was made live on the Google PlayStore.
Who Are The Founders Of Ultimate?
Peter Grosskopf (CTO), Maximilian von Wallenberg-Pachaly (CEO), and Omid Aladini (Director of Engineering) are the co-founders of Ultimate. They’re all from Berlin, Germany, and had collaborated on several projects together before the development of Ultimate.
How Does Ultimate Work?
If you’re familiar with cryptocurrency wallets, then it works just like that, but better. If you’re not familiar with cryptocurrency wallets, then what better opportunity to learn about them than now? Cryptocurrency wallets are also called DeFi wallets because most of these wallets can be used to store more than just crypto. So, DeFi wallets are digital wallet applications, mostly in the form of a mobile app, that is used to store your private keys and grant you access to the digital assets assigned to those private keys. You might be tempted to think that DeFi wallets store digital assets like crypto and NFTs on the particular wallet itself, but no. DeFi wallets serve as the door to your digital assets on the blockchain network, and the key to the door is your private keys, which are simplified via seed phrases. Seed phrases are mostly 12-24 words used to encrypt an underlying private key that is used to access digital assets on a blockchain network.
Ultimate is one of these DeFi wallets, as described, but it provides a revolutionary and refreshing experience for users. How is it revolutionary? It asserts the notion that the DeFi ecosystem mustn’t be as sophisticated and complex as it is often advertised to be. Decentralized finance and blockchain technology can be understandable to anyone, from anywhere. How is it refreshing? Ultimate offers a simple and easy-to-navigate user interface and user experience. Barely a year old, it is quickly on its way to becoming a one-stop shop for all your DeFi needs. Plans that are underway include launching on the Bitcoin network, introducing a limit order trading feature, among others. You can buy, send, receive, swap, deposit, and stake your favorite cryptocurrencies with just a few simple clicks. Buying cryptocurrency within the Ultimate DeFi wallet is made possible through MoonPay and Stripe, catering to users and investors based in the US, all via decentralized exchanges.
What Can You Do With Ultimate?
Asides from the signature buying, depositing and sending of cryptocurrency of DeFi wallet, what else does Ultimate have in store for you?
- Backup Your Private Key: Ever worried about losing your private keys or accidentally losing your device? Ultimate was made specifically for you, then. With the Ultimate DeFi wallet, you’re free from the anxiety of ever losing your private keys, as you’ll be provided with an option to back up your private keys to the cloud. This cloud storage is usually your Google Drive for Android and your iCloud Drive for iOS.
- Watch Any Wallet Address: With Ultimate, you can import any wallet address via the “Watch” feature and gain access to real-time data about the portfolio and transaction history of that wallet address across multiple blockchains. This will help you keep track of changes in the crypto market with respect to your token holdings or for any other reason. The Ultimate “Watch” feature is effective and thorough in contributing to the transparency concept of the blockchain network.
- Buy And Sell NFTs: Imagine the ultimate wallet, powered by its very own app called Tensor. This app is like a hub where creators and artists can dive into a cool marketplace for buying, selling, and even creating their own NFTs on the Solana blockchain. They call Tensor the speedster of Solana’s NFT world, making transactions a breeze and showing off the awesome possibilities of NFTs. Want to learn how to buy and sell NFTs on Tensor? Check out this comprehensive guide.
- Import Or Create New Wallet: Do you already have a wallet? Easily import it onto Ultimate with just a few clicks. Are you new to the DeFi community? Then you can effortlessly create a new wallet using the Ultimate DeFi app. Feel free to create multiple wallets or import several wallets within the Ultimate DeFi app. It has the ability to create and import an unlimited number of wallets, allowing you to switch between them seamlessly.
- Zero-Fee Swapping: While Ultimate charges very low transaction and network fees depending on the transaction and the state of the network at a particular point in time, swapping your tokens or digital assets via Ultimate is a zero-charge process. This is one of its outstanding features, as other wallets execute token swaps with a fee involved.
- Profit & Loss Tracking: Ultimate is fed with real-time data about all your favorite cryptocurrencies, including their profits and losses within a given timeline. This feature will help you stay up to date with DeFi market fluctuations and enable you to make preemptive decisions regarding your token holdings or potential investments in the DeFi ecosystem.
- Portfolio History: Do you want real-time data about your portfolio? With Ultimate, monitoring your portfolio history is one of the most convenient procedures you can embark upon. Using appealing interfaces and enabling an enjoyable and fascinating user experience, the Ultimate DeFi app provides you with a comprehensive and exhaustive overview of your portfolio across multiple blockchain networks in the DeFi ecosystem
- Candle Charts Monitoring: Do you find yourself engrossed in forex or trading activities? Perhaps you’re a newcomer to the world of trading, and the intriguing candle-like charts displayed on screens have captured your imagination. With Ultimate, you’ll experience a sense of familiarity and comfort – it’s like being right at home. Through captivating candle charts, you gain the ability to meticulously monitor and track the fluctuations within your portfolio and the broader market landscape.
- Add Wallet Icon: Tired of those boring, unchangeable wallet icons that your wallet assigns to you? With Ultimate, you can personalize your pictures with ease using the “Edit” and “Choose Photo” features. You can even “Pick an Emoji” to serve as your wallet’s display icon. But whatever the case may be, you can use Ultimate on your own terms of customization.
How To Use Ultimate?
- Visit ultimate.app and download the wallet application or just use the link https://get.ultimate.app/
- Launch the app and agree to the terms and policy of the app as well
- Activate Device Authentication
- Add Existing Wallet or Create New Wallet
- Congratulations! You can now explore the DeFi ecosystem with ease and steez!
Security Of Ultimate, Is Ultimate Safe?
Ultimate has gone to great lengths to ensure your digital assets are thoroughly protected from any potential threats. They’ve put in place a variety of security measures, like using two-factor device authentication, securely backing up private keys in the cloud, and seamlessly integrating the Blowfish wallet defense API. All of these measures work together to not only keep scams at bay but also to quickly spot and address any transactions that seem suspicious. Your assets are in safe hands!
An Intern Web Developer, Wordsmith, and Civil Engineer, Damian C. David is the founder of BLOCKCHAINSTELLAR. With 3+ years of industry experience, Damian excels at conveying value through his written work.