Ambo, a mobile wallet that was acquired by MyCrypto.com earlier this year, announced this week the addition of 700 tradeable Ethereum tokens.
The company is calling the addition an effort to create “the best trustless trading experience.”
Ambo is currently only available as an iPhone app, but they have promised to do an Android version as soon as possible.
NOW AVAILABLE: Download the @Ambo app on iOS! 🎉🎉🎉
Ambo is a mobile wallet that makes your cryptocurrency accessible. Send, receive, store, and more, all from your phone.
— MyCrypto.com (@MyCrypto) April 23, 2019
Ambo wants to offer a radically easy experience.
MyCrypto CEO Taylor Monahan has repeatedly expressed this mantra to this reporter in various interviews.
Ease of Use A Paramount Concern
For the most part, higher-level executives at wallet firms these days understand that usability and ease-of-ease are chief among the the issues currently stunting adoption.
“Our mission with Ambo is to provide people — whether they have crypto experience or not — with the tools to secure their financial future. The first version of Ambo was a good start, and we’ve been collecting your feedback to help get you even further on this mission. And, after a few months of hard work behind the scenes, we’re excited to be launching the next iteration of Ambo and continuously improving from here on out.”
“Trustless” or decentralized trading is on the rise, as are midway options like Arwen.
A variety of security-first exchange products will lead the next wave of digital finance, as more and more people come on board without an interest in risking funds.
Security-as-a-service, for wallets and large institutional funds, will become a reality within the next several quarters, likely enough, as the technological offerings become increasingly complex.
For example, a new crypto trader will soon have a choice between partial-custody, full custody (the traditional Mt. Gox model, now best represented by the likes of Coinbase, who are well insured), or a growing range of decentralized exchange (DEX) options.
New Class of Wallets Emerging
Ambo represents the latter. While both MyCrypto and Ambo offer good mobile wallet solutions, the user is still in charge of his or her funds. That’s perhaps the real dividing line between crypto and traditional finance.
At no point can MyCrypto or Ambo freeze funds, which means that the essential promises of crypto are kept by the wallet’s base design.
In addition to adding a ton of new assets, Ambo users can now easily see the type of assets held by an address they’re sending to.
More updates are sure to come, along with hopefully an eventual Android release.