EOA wallets like MetaMask use a recovery phrase called a seed phrase. Anyone who knows your seed phrase will be able to gain access to your wallet. EOA wallets are recovered using the seed phrase, and lack the kinds of special features unique to smart wallets.
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The Loopring Smart Wallet is a non-custodial wallet. It will encrypt and store your secret key on your phone, which. It is a wallet which utilizes for the recovery process. Because it is based on a smart contract, it has other special features like daily limits, lock protection, , and many more that you can’t get with a normal crypto wallet. For instance:
If you lose or break your phone, you will need to download the Loopring Smart Wallet app on your new device. Follow the instructions for to create a new secret key and restore access to your funds.
You can easily to a new device as well. It is simple, secure, and free.
Additionally, you can quickly and easily view your funds in the browser.
Currently, we integrate with Ramp and Banxa to easily without the need to use a CEX (Centralized Exchange).
| Loopring Wallet | MetaMask |
|---|
Social Recovery | Yes | No |
Lock your Wallet | Yes | No |
Whitelist Addresses | Yes | No |
Daily Limit/Quota | Yes | No |
On-Ramp Fiat | Yes | Yes |
LayerSwap to L2 | Yes | Yes |
Link to website DEX | Yes | Yes |
