Introducing Xverse: the Gateway to the Stacks Ecosystem
With the recent rebranding and the DApp browser release, we thought it was a good moment to share with you the ‘Xverse Wallet Compendium’.
What is Xverse Bitcoin Wallet?
Xverse wallet is a non-custodial, crypto mobile wallet for Stacks and Bitcoin available for Android and iOS. Its main goal is to become the gateway to all Bitcoin web3 applications powered by Stacks.
Xverse wallet was developed by Secret Key Labs — a software R&D lab focused on developing end-user applications for the Stacks-Bitcoin ecosystem. Founded by engineers from the original Stacks team, Secret Key Labs is dedicated to building delightful and seamless wallet experiences that empower decentralised apps including DeFi, NFT collectibles and more.
Listen to Ken, the founder of Secret Key Labs, talking about Xverse and his history with Stacks on the recent livestream with ZeroAuthorityDAO:
What is Stacks?
Stacks’ mission is to create a better, user-owned, decentralised internet. To do it, they are unleashing Bitcoin, the most battle-tested and valuable blockchain in the world. As a result, Stacks has recently become #1 Web3 project on Bitcoin.
Why should you use Xverse Bitcoin wallet?
Xverse wallet is the top mobile wallet for Stacks developed by team members from the original Stacks team.
- It is the only mobile wallet for Stacks that not only does not charge any fees for stacking but also distributes stacking pool rewards in Bitcoin. We have also recently lowered the minimum amount required to participate in stacking to 100 STX (previously — 500 STX). Read more on Stacking with Xverse here.
- With the recent release of the DApp browser you can now interact with all of the Bitcoin web3 apps powered by Stacks from within the wallet — apps like Byzantion, Arkadiko, STXNFT, ALEX. You can read more about the Xverse DApp browser here.
- Xverse wallet supports Stacks, Bitcoin and all fungible tokens built on Stacks such as MiamiCoin and NYCCoin.
- You can generate and use multiple accounts.
We are also continuously adding new features with in-app swaps and web-based Xverse pool Stacking plus more coming soon.
For more information on what’s planned for 2022 — we invite you to see our roadmap.
Benefits of using Xverse Bitcoin wallet
1. You can transfer from your existing wallet like Hiro, Blockchain.com etc using the same set of seed phrases as your other wallet.
2. If you lost your seed phrase/ socket key to Xverse wallet, no one will be able to help you recover your wallet. So it is very important to make sure that you backup your seed phrase securely when you create your wallet.
3. A seed phrase is a series of words generated randomly which contains the unique key to your cryptocurrency wallet. You should never reveal your seed phrase to anyone as it gives full access to your wallet and crypto. We use standardised seed phrases which will work in all wallets.
4. Xverse wallet does not charge any fees for transactions. The transaction fees you pay for all transactions are paid to the miners on the Stacks network to verify your transaction.
5. You can transfer Stacks NFTs to your Xverse wallet by sending the NFT to your Stacks address. You can find this address by tapping on the “Receive” button in your Stacks wallet dashboard screen.
6. The Bitcoin base fees to withdraw from the app are estimated dynamically, depending on the network conditions. So it’s variable and calculated when the transaction is built. The app will show the fee in the confirmation screen before the transaction is sent.
7. If your Stacks transaction is in pending status, you need to wait around 10–30 minutes (depending on the time it takes for new blocks to be added to the Stacks blockchain) until the transaction is verified and confirmed by miners. You may see longer wait times when there is network congestion. You can set a higher transaction fee to incentivise Stacks miners to confirm your transaction first.
Stay tuned for more updates!
Stay tuned to our latests news and updates