Exploring Nova Wallet: Seamless Experience for Your Polkadot Asset Management
As the blockchain landscape continues to evolve, new and exciting developments are emerging. One such innovation is Nova Wallet, a mobile wallet for the Polkadot ecosystem. This cutting-edge application offers a convenient and user-friendly way to manage and use cryptocurrencies, making it an essential tool for anyone interested in the world of blockchain.
In this article, we’ll delve into the key features of Nova Wallet, its seamless integration with the Polkadot ecosystem, and why it stands out as an exceptional option for crypto users.
Content:
1.1 Nova Wallet Overview
1.2 Wallet Setup
1.3 Security and Privacy
1.4 Direct Blockchain Interactions
2. Key Features of Nova Wallet
2.1 Multi-Chain Asset Management
2.2 Governance
2.3 DApps Browser
2.4 Staking
2.5 Crowdloans
2.6 Hardware Wallets & Watch-Only Wallets
3. BONUS: Exclusive Polkadotters content
4. Conclusion
1. What is Nova Wallet?
1.1. Nova Wallet Overview
Nova Wallet, the ultimate iOS and Android mobile app for the Polkadot ecosystem, supports 80+ networks, including Polkadot, Kusama and also Ethereum. It boasts 290+ cross-chain transfer channels, making it highly versatile.
As a feature-rich wallet, it supports NFTs, DApps, crowdloans, governance, hardware wallet support and asset staking, while focusing on community-driven development.
1.2 Wallet Setup
Users can choose their preferred language and currency, while also benefiting from enhanced security features, such as biometric authentication options like Face ID for iPhone or fingerprint for Android, to unlock the app, and also to confirm transactions.
1.3 Security and Privacy
Nova Wallet’s top priority is user security. As a non-custodial Web3 wallet, it ensures that your private key remains in your control, stored locally on your device in the secure enclave storage of your phone's operating system. The private key is encrypted with the user’s personal secret, adding an extra layer of protection. With using of HW, the private key is not stored on the device at all, it remains safely within the cold wallet and keeps the signing process up to them.
From a privacy standpoint, Nova Wallet doesn’t collect any user data, ensuring that no user information is sent anywhere for any purpose, even for analytics. All data is strictly stored locally on the user’s device, enhancing user confidentiality.
On top of this — Nova Wallet is fully open-source, so its code can be verified by anyone in the community.
1.4 Direct Blockchain Interactions
All operations performed through Nova Wallet are directly submitted to the respective blockchain’s nodes, ensuring real-time and secure interactions. The “read-only” data, including transaction history and fiat values, is queried directly from the blockchain’s nodes or reliable sources like CoinGecko and SubQuery. For Ethereum, the transaction history is taken from the Etherscan and for Moonbeam resp. Moonriver for ERC 20, it's taken from Moonscan.
Nova Wallet guarantees a seamless and secure experience, making it an ideal choice for crypto enthusiasts seeking unparalleled convenience on their mobile devices.
2. Key Features of Nova Wallet
2.1 Multi-Chain Asset Management
Nova Wallet offers comprehensive multi-chain asset management capabilities, empowering users to effortlessly handle various aspects related to their crypto holdings. With its user-friendly interface and versatile features, Nova Wallet emerges as an indispensable tool for users navigating the Polkadot ecosystem.
- Multi-Chain Asset Management: Users can effortlessly manage their assets across relay chains like Polkadot and Kusama, parachains, solochains like Aleph Zero, and other networks such as Ethereum and later Polygon & other EVM-based chains.
- Wallet Management: Create new wallets or import existing ones seamlessly by using a mnemonic passphrase (12, 15, 18, 21, or 24-word phrase), raw seed (private key) or restoring JSON file. Nova allows also integration with various web wallets by using WalletConnect v2.0.
- Balance Transfers: Users can manage their balance transfers of various tokens such as DOT, ASTR, GLMR, HDX, or KILT, including derivatives such as vDOT, xcDOT or cDOT.
- Send: The app allows easy token sending via various methods, such as paste, scan QR code, or support for web3names. Users can also send back tokens to addresses who have previously sent them.
- Receive: Nova Wallet facilitates receiving tokens by generating QR codes or displaying the recipient’s account address for easy sharing.
- Cross-Chain Transfers: The wallet excels at cross-chain transfers, particularly XCM transfers, establishing itself as a leading choice for seamless cross-chain transactions.
- NFTs: Nova Wallet supports NFTs for Kusama (RMRK), Polkadot Asset Hub (former Statemint) with plans for expanding to Moonbeam, Astar and other ecosystems in the future.
2.2 Governance
Nova Wallet empowers users with on-chain governance voting and delegation capabilities, enabling active participation in the decision-making processes of the Polkadot and Kusama ecosystems.
- On-chain governance voting: Direct participation in on-chain governance through voting on referenda and proposals.
- Governance V1: Supported by most parachains.
- Governance V2 — OpenGov for Polkadot, Kusama, Bifrost, Moonriver and Moonbeam (soon): Open governance ensures comprehensive governance participation.
- Detailed referendum information: Status, category, description, and the number of votes received. It also provides transparency on who voted and their voting preferences, enhancing the democratic process.
- Delegation: Users have the option to delegate their voting power to trusted entities like validators, providing a convenient and flexible way to engage in governance without direct voting. This transforms inactive voters into active ones, enhancing overall network governance participation.
- Unvoted referenda filters: For users who want to ensure they don’t miss any referenda.
2.3 DApps Browser
Nova Wallet goes beyond being a standard crypto wallet, offering a seamless experience for interacting with decentralized applications (DApps) within the Polkadot ecosystem via their user-friendly DApp browser. Thanks to Polkadot’s flexible architecture, users can engage with both Substrate-based and EVM-compatible DApps.
- DEXes and DeFi DApps: Access to DEXes like HydraDX Omnipool, MangataX, Interlay Bitcoin DeFi Hub, ArthSwap, Basilisk Snek Swap, BeamSwap, Pablo, lending protocol Moonwell and more.
- Liquidity Staking Derivative Protocols (LSD): Access to LSD protocols like Bifrost, Acala or Parallel, enhancing DeFi participation.
- Gaming, Metaverse, and NFTs: Explore and engage with metaverses or gaming DApps like EVRLOOT, Evolution Land, Moonsama, or Bit.Country Pioneer.
- Other: Governance DApps such as Polkassembly and Subsquare, Bridges, Crowdloan DApps, prediction markets like Zeitgeist and more.
2.4 Staking
Nova Wallet streamlines the staking process on the Polkadot network and parachains, providing users with a seamless and user-friendly experience and maximum profit.
- Multistaking Dashboard on Polkadot and Parachains: Simplified staking process, making it accessible to both new and experienced users via default options or choosing a validator/collator according to various options for greater control over users' assets.
- Validator Management: Choosing preferred validators for staking, managing validators, setting reward destinations, and setting up controller accounts with ease.
- Staking Analytics and Rewards: Viewing total rewards, rewards history, unpaid rewards, and receiving alerts on the main screen about staking status.
2.5 Crowdloans
Nova Wallet offers crowdloan support for the Polkadot and Kusama ecosystems, allowing users to contribute to parachain slot auctions in a non-custodial manner.
- Easy Contribution to Crowdloans: Trustless contributions to parachain projects during their slot auctions.
- Contributions Tracking: Users can monitor all crowdloan contributions, including the amount of DOT/KSM contributed and the remaining crowdloan lock on the tokens.
- Vested Crowdloan Rewards: Crowdloan reward tokens are often vested and can be seen in the “locked” balance. Nova Wallet provides visibility on vesting periods and categories, such as “Ormlvest” or “Vesting,” for most tokens.
2.6 Hardware Wallets & Watch-Only Wallets
- Hardware Wallet Integrations: For enhanced security, Nova Wallet supports integrations with leading hardware wallets like Ledger and Polkadot Vault (formerly Parity Signer), ensuring the utmost protection of users’ private keys.
- Watch-Only Wallets: Offer enhanced security by allowing users to monitor their funds and transactions without exposing private keys. They function as portfolio trackers and are valuable for tracking other users’ funds or voting/staking behavior, such as whales.
3. BONUS: Exclusive Polkadotters content
Discover the exclusive benefits Nova Wallet brings to Polkadot users by offering upcoming upgrades. Only here on Polkadotters Medium channel!
Gain early access to the latest enhancements, enjoy a user-friendly multistaking portal for seamless management, and benefit from an automated selection between native staking and nomination pools in a one-click staking feature, removing the complexities associated with staking and greatly improving the user experience.
Embrace the advantages of active governance participation, compounding rewards, and maximizing profits with Nova Wallet’s innovative approach to staking within the Polkadot ecosystem. With everything on one screen!
4. Conclusion
Nova Wallet emerges as a powerful tool for navigating the vast Polkadot ecosystem. With its secure, decentralized nature and user-friendly interface, it provides a seamless experience for both new and seasoned users.
By offering comprehensive support for multiple assets, staking capabilities, and seamless integration with Polkadot, Nova Wallet stands as a valuable gateway for anyone looking to explore the diverse world of blockchain and cryptocurrencies.
- Delegate your DOT or KSM to Polkadotters for easy participation in the on-chain governance via Nova wallet
- Strengthen Polkadot by nominating your DOT tokens to POLKADOTTERS, community builders for the Polkadot ecosystem
- Support Polkadotters Shrimp and Polkadotters Octopus on Polkadot and be a part of a more secure Web3 future
