Portis Wallet Review : Shapeshift Acquisition, Best Crypto Wallet?

What Is Portis?

Portis is a simple ,elegant, and easy to use non-custodial blockchain wallet. You might ask what is a wallet at all? Wallet is necessary to keep your currency safe.

In the same way, your cryptocurrency needs a safeguard that is provided by a digital or hard wallet. Portis is a digital wallet. Portis wallet is one of the best multi cryptocurrency wallets in the crypto space.

Your crypto needs a safe and secure place to be stored so that no one steals it away from you. In order to avoid this larceny, you need a safe wallet and Portis does this all for you. 

 

Who Created Portis?

Itay Radotzki and Tom Teman teamed up and founded an  end-to-end encryption software that  would allow its clients to have complete control on their keys/ passes, etc while dealing with crypto online. It was in 2018 that they both founded Portis.

Tom Teman was previously working as Senior Software Developer at Blackberry before quitting it and coming to Portis. Tom always aspired to have a software that would allow him to assert his complete control on his digital assets. When his online search for such software ended in vain, he decided to invent his own and this was the genesis of Portis.

Itay Radotzki has previously worked at different senior-management level posts. He has worked as a software engineer in Israiel Security Forces and in Watchdox. His skills and experience made him the perfect co-partner of Tom in devising Portis. 

 

Portis Investors

Portis wallet was initially funded by F2 Capital, a Tel-Aviv based investment firm. The firm funded it at the inception of the Portis wallet. Later, the founders realized that in order to become the wallet that becomes the first choice for the crypto related dealings, they had to take bold steps.

It was then when Shapeshift acquired Portis and gave it a new realm of growth and development.

 

Is Portis Wallet Safe?

What is the use of a wallet when it makes nothing but bogus and vulnerable claims about its security. Safety of a wallet is of prime concern. This is why it is devised for;securing people’s digital assets. Portis wallet is safe.

Portis is a Browser-based crypto wallet that incorporates  sandboxed local storage to preserve a value in it. Value preserved in such a way makes it difficult for other websites to read and interpret it. In this way, it strives to safeguard the values stored from phishing or other such maligning attacks making it safe.

Having a sandboxed storage system ensures it that the other websites are unable to read data stored in it. Portis wallet is thus deemed safe.

Moreover, Portis wallet also renders services for developers by providing the SDK tools. Through these tools and kits, the developers can easily strengthen the security of their wallets by further developing keys and encryptions.

Some would argue that the Portis wallet is not that as it is a hot wallet and not a hard one. This is true to some extent as a hard wallet provides you a better sense of security but that doesn’t mean it is unsafe. It is as safe as a hard wallet except it is not physically present.

 

How Does Portis Wallet Work? What Does Portis Do? 

Portis wallet aims to be a trouble free wholesome package for all. This means it appeals to not only novice and beginners who are just entering in the universe of cryptocurrency but it also appeals to developers and experts of the field as well.

For novice and beginners, it gives you complete access to your wallet just by using your email and password.

 

Are Coins In Portis Wallet A Good Investment?

The platform heralds that it supports more than 1000 coins. This means that not only most popular cryptocurrencies such as Bitcion , Ethereum, etc but there are several other options you have to choose from.

In other words, you have a variety of assets and a  clearly conceived strategy can definitely land you into profitable options. Moreover, costs associated with it are negligible as compared to profits earned from it. So we have evidence to say that the coins in the portis wallet are a good investment.

 

Is Portis An Exchange?

An exchange is a digital space to change your crypto with another one. Portis on the other hand, provides a platform that allows you to provide protection for a crypto. It stores them in a wallet.

Talking in a strict sense, one can not call it an exchange. So your questions about how to exchange crypto with Portis and is Portis exchange can not be entertained here. Portis is a wallet that can be used as a standalone package and also as a tool to integrate your own-coded wallet with it.

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How Do You Use Portis Wallet?

Portis wallet is a time and effort saving solution for those who want to commit secure transactions pertaining to crypto trade. It is a web-based browser that can be utilized by using email and password.

Portis defi supports all secure web-browsers which have maintained an unblemished security record. Once email and password are authenticated, you are ready to go. The next step would be integration of your decentralized application commonly known as Dapp. Portis guide would enlist steps for you to work on it.

The next steps do not require you to be a computer virtuoso or software expert to perform them. They have designed those steps in the simplest way possible. So anyone with the basic understanding of computer systems can easily handle them. 

A list of codes would be given that you need to copy and paste. You will have to install Web3. Once done with it, you will be importing  Portis codes to your web3 and once done, you are ready to go.

 

Pros And Cons Of Portis Wallet

One must go through pros and cons of any software in order to better understand it. Here few advantages and disadvantages of Portis are presented to clear ambiguities if there are any

 

Pros Of Portis Wallet Cons Of Portis Wallet
Easy and simple to use. Portis defi is intended to be a solution for everyone and not for experts only. This simplicity appeals to users at large. Despite being really simple, a little knowledge of code integration is still a must. It cannot do a task from its inception to its ending on its own. User input is necessary which might cause inconvenience to some users.
Portis is an inexpensive solution. It doesn’t charge any fee for the amazing services it provides Users have faced issues regarding linking their card to the Portis. There are some Portis reviews reddit that delineate on this matter.
Being a web-based decentralized application, it allows you to integrate your codes without installing any software. Furthermore, this also allows users to login and use Portis from anywhere in the world without worrying for the hardware Although Portis takes pride in having well-established blockchain solutions and tokens in its inventory but it still doesn’t support all blockchain and tokens available on the net. You cannot add Custom ERC-20 tokens to the wallet. Read the tweet by @Cryptomeddler for more info. 
Portis guide and support easy to comprehend and come handy when using it. Portis guide might be difficult to understand at first.

 

How To Use Portis With Coinbase?

Coinbase is an exchange and that can be used with Portis. If you are interested in having a crypto without divulging any of your privacy, Coinbase is one the best choice among many others. This is why it is considered as one of the platforms that can be truly called Defi and Dex.

After making a transaction through coinbase, you will need to store it in a wallet. Coinbase provides you its own wallet. With the help of Portis SDK tools, you can integrate your portis properties with it. You can make use of your Portis wallet in this way.

 

Does Portis Require KYC?

KYC requirements were made a necessity for the crypto users on several platforms in 2018. Regulators imposed several curbs and measures on the companies. In order to avoid getting blacklisted by authorities, Portis wallet also implemented KYC  requirements for the users who wanted to purchase the crypto through it.

After acquisition of Portis defi by Shapeshift, KYC requirements have been made redundant. Now a user can purchase a desired crypto with complete anonymity.

 

How Do I Buy Bitcoins On Portis?

Buying a Bitcoin from Portis is just a few steps drudgery. You can purchase Bitcoin through your debit and credit card. To conduct this transaction, you will need to provide minimal information necessary to make the transaction.

You don’t need to dig into an extensive Portis guide to make a purchase. Open Portis either on your web or on your phones. Login your account by using the email and password you used for the registration.

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Click buy Bitcoin appearing on the main window. Enter the amount you want to purchase. Enter  your debit/ credit card information. After confirmation, you would have the Bitcoin in your wallet in no time.

 

 How To Retrieve Crypto Back From An Address In Portis?

You need an address to send and store your Portis cryptocurrency. The address has crucial importance in crypto related transactions. Once a wrong address is used, you cannot retrieve your crypto back from it. You must be careful while inputting the address.

 

Portis Vs MetaMask

Several questions may arise in the user’s mind while interacting with the wallet for the first time. Such as Is Portis safe? Is Portis legit? Is it more expensive and intricate than the other such wallets and so on? These questions can be answered either by going through Portis reddit reviews or by comparing it to another  wallet offering the same services.

Here Portis is compared with MetaMask to comprehend the users in getting a bigger picture and assisting them in decision which wallet to use

 

Feature Portis MetaMask
Security Portis is a secure and reliable wallet. Its encryption offers bulwark security against phishing, hacking and other malicious attacks MetaMask also provides a secure and safe platform and no such major hack or breakdown of its systems is reported till now. 
Fees Portis Fees are negligible. In fact for the major portion of its services, there isn’t a single penny charged. There may be a little deduction while making a purchase through credit/debit card. MetaMask on the other hand levies fees on various transactions and their amounts. A 0.875% fee is incorporated into a transaction as soon as it is carried out. In this way, it is a bit expensive than Portis
Blockchains Portis offers multi blockchain solutions to its users. With the help of Portis, users can deal in Bitcoin, Ethereum and EOS and several others that make it really useful. There are several positive Portis reviews related to its blockchain solutions Metamask deals in Ethereum blockchain only. This makes it a limited and specific niche only.
Usage Using Portis wallet is simple , easy and all the functions can be carried out without installing any major supportive software. Plus, Portis guide is available at every stage of development that brings further ease in using it. Metamask also is an easy to use wallet but using it might require some technical know-how of  the software developing.
Browsers It is compatible with almost all secure and reliable browsers which come with their built-in privacy and security solutions that are regularly updated.  On the other hand, Metamask works with limited browsers only. This is another point where it gives edge to Portis.

 

What Coins Are Supported In Portis?

Portis wallet has got Bitcoin, Ethereum and several other coins to meet your needs. Portis Defi support is impeccable. It has a well-established database of all such assets. Thus you can enjoy safeguarding your favorite Portis supported currencies within a few minutes.

 

Portis Fees

Portis reviews that often get the user’s attention is how cheap and inexpensive it is to use this wallet. Amazingly, Portis is free for the most part of it. It doesn’t charge any fee on creation of the account nor asks for any commission or spreads for using it.

Not only this, but its integration with the  Gas Station Network, has also rooted out the gas fee for its users as well. In a nutshell, it is offering its users ease and convenience without causing them to lose any penny.

 

Portis Login Process

Logging in your Portis wallet is a piece of cake. You can either log in directly through its own website or you can also route yourself to the login page through the Shapeshift platform. Once there, follow these steps:

  • Click login button
  • A separate window will appear requiring email and password
  • Use your email and password you provided during registration
  • Press enter or click Log In and you are done!!

 

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ShapeShift Acquires Portis

Shapeshift acquired Portis defi in November 2019. The primary reason that made this acquisition possible was similarity in vision and values of both the leaders. Both leaders appreciated the need of privacy and the need of having a system where the custody of assets remains with the owners and not with the third parties. This similarity of the vision made them enter in this deal.

Shapeshift is one of leading exchanges and now by acquiring Portis, they have further enhanced functionality and utility of their platform. The users of Shapeshift can now store their cryptocurrencies in Portis. Another feature was added security to their already established wallets resulting in positive Portis exchange reviews.

 

Portis Wallet Alternatives

There are several alternatives available in place of Portis. On the basis of Portis review compared with reviews of other, some of the most relevant alternatives to Portis are

  • PeerNova:  It is a US based company. It provides blockchain solutions to its customers. Other than this function, it is also involved in data engineering, gigantic data gathering and making custom-data based solutions for financial intermediaries and companies
  • VIA: Founded in 2016, it is another company that not only specializes in block-chain solutions but also provides energy-related solutions, gathering and analyzing energy-related data and helping big companies in making best use of their energy-data.
  • dfuse: This is the company that has fully invested its resources in finding blockchain solutions with strong encrypted wallets to store the cryptocurrencies. It also provides high-powered tools for developers to integrate their codes within a wallet or app.
  • Citizen Hex :  Another technology startup that has stemmed from Canada and offers blockchain solutions with the custom wallets.

 

Portis Social Media Handles

Portis customer service through social media platforms is fantabulous. Portis is available on Twitter, Telegram, Github and Medium. There is support available on its website as well but one can also have a representative from Portis guide you through its social media accounts too.

Its Twitter account shows 100% engagement with the Tweets. On Telegram, it shares live updates and Portis reviews to keep informed its users about the crypto world. Portis Medium is the blog published by Portis officially.

Portis Website | Portis Github | Portis Twitter

 

Takeaway – Portis Wallet Review

Portis is one of the most favored wallet and encryption solutions for many users. You can give it a try and there are credible chances that the Portis will not let you down.

If you want to learn more about other wallets, take a look at the following detailed reviews

Gatehub wallet

BreadWallet

Metamask Wallet

MyEtherWallet

MyCrypto Wallet

Samourai Wallet

Atomic Wallet