When using non-custodial wallets, traders should have much higher protection of their funds, primarily because there’s a limited possibility of hacking. However, purchasing cryptos on these platforms can be quite tricky.

Simply, these firms can present traders with fictive balances while they collect your money dedicated to crypto purchases. But to find out what exactly the catch is with this company, read our Enkrypt review until the end.

Who Runs Enkrypt.com?

As can be seen from the website, there’s no legal information about this company in particular. However, there’s a tight connection with MyEtherWallet (MEW), which was founded by Kosala Hemachandra. In any case, we can assume this company is based in the US, the same as MEW. 

This open-source crypto wallet offers a wide range of features, starting with staking, buying and selling, and swapping cryptos. However, users can also manage their NFTs and access a wide range of Web3 apps. All in all, with its non-custodial nature, traders’ money should be safe. But is it indeed? 

Enkrypt Reviews As Possible Hint

Even though both of these platforms have existed since 2015, they have a very low number of reviews. But the ones you can see on Trustpilot, whether about MEW or Enkrypt don’t look astonishing. Traders have reported funds missing, poor customer support assistance, and platform issues. 

In general, it’s everything you want to avoid with one crypto wallet. That’s why expanding your knowledge about the investing world may be crucial. With this in mind, we invite you to check also our AudaCity Capital review.

On What Platforms Is Enkrypt Crypto Wallet Available?

Generally speaking, the safest crypto wallets are cold ones, such as Ledger, Trezor, etc. On the other hand, traders can use hot wallets like Enkrypt, which are online. Usually, online wallets include dedicated apps for desktop and mobile devices. However, this company opted for a web-based solution.

The solution Enkrypt wallet offers is a browser extension for the most popular options, such as Microsoft Edge, Chrome, and more and more popular, Brave. Even though it might be safer than mobile apps, the extension wallet has its flaws. The most important one is the risk of losing the seed phrase. In that case, the money is gone. Also, you are dependent on a desktop or laptop device.

What Are Supported Chains?

One of the advantages of multi-chain wallets is simple access to all wallets. In the case of Enkrypt finance solutions, all Ethereum-based blockchains are available, starting with:

• Polkadot
• Substrate
• Canto
• Karura
• Arbitrum and dozens more.

Also, this implementation allows users to safely keep their NFTs in one place. But after all the negative comments, there’s a reason to believe it’s not that safe. To expand your knowledge about safety in the trading world, check also our Traderseed review. 

Support Options Within the Enkrypt App?

Generally speaking, the company offers standard contact options similar to any other crypto wallet provider: e-mail and live chat. According to them, they respond in a live chat within a few minutes. However, with all negative comments pointing out poor customer support, we highly doubt it. 

Also, it’s important to mention the company’s social media accounts are not as popular as some might think. For instance, the company’s Facebook page has only a bit over 25k followers, while its Twitter account has only around 2k.

Pros and Cons Summarized

One of the main advantages is the non-custodial nature of the app. Also, the platform is extension-based which makes it a bit more secure than mobile wallets. On top of that, the open source allows anyone to review the code and modify it. But that’s also where the danger is. At least you will have a chance to recognize flaws if you know how to. 

On the other hand, if you don’t understand them, it’s absolutely meaningless. And it truly is for most traders. So, if you make one wrong move, your funds could be gone. Another important issue with this platform is that funds have practically disappeared. That’s what traders reported. They also reported unexpected wallet address changes on Reddit. 

All these tiny details can have a huge impact on your overall experience. Same as unknown Enkrypt fees. So, what are your options then? 

Safer Investment Options Are Always Available

Generally speaking, nobody should explore the risks of holding cryptos with unproven companies. Keeping it simple is the key to keeping the funds safe. But even then, you are exposed to some sort of risk. However, with the recent rise of prop trading popularity, traders have many more options with minimum risk involved. 

Most importantly, if you find reputable firms with thousands of positive reviews like Funded Trading Plus, you are on a good way to success. This UK-based company offers advanced trading tools, a trusted platform, and attractive evaluation programs. However, the key benefit to traders is trading with the company’s capital and getting up to a 90/10 profit split after a completed evaluation. 

If you are secure about your skills, or you have found a proper AI tool or auto-trading software, prop trading is the right deal for you. Why risk your money at all when you can use prop-trading firms like Funded Trading Plus and trade without any risk of losing capital? Sign up today with Funded Trading Plus and choose between $10k and $200k funded accounts to maximize your results starting today. 

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