Fortmatic Wallet Review: Is the Best Web3 Wallet Provider?

Are you looking for a versatile crypto wallet to store Ethereum? Or do you prefer to log in to user-friendly blockchain apps? In any case, Fortmatic wallet excels. Therefore, in this Formatic review, we will be talking about all of the platform’s features, its mobile app, and its new name Magic.

Summary

  • Fortmatic or Magic is a user-friendly hot wallet.
  • Users can access it either from desktop or from any browser on the mobile.
  • This wallet can be used more efficiently by connecting it to popular apps.
  • Integration of Fortmatic into dApps is relatively short and straightforward.

What is Fortmatic?

Fortmatic (Magic) is a hot wallet, which enables users to use decentralized apps and access tokens from their address on Ethereum. Rather than Extensions or seed phrases, it uses either a phone number or email address for authentication. It was founded in 2018 by Sean Li. However, in 2020, they announced that they would be changing its name to Magic. Moreover, it is a platform for developers to integrate blockchain technology into their applications. 

How to sign up for Fortmatic wallet?

Fortmatic wallet uses users’ phone numbers and email-id for authentication. Follow the below steps to set your wallet:

  • Click on the wallet from the top left menu.
Click On Wallet
Click on Wallet
  • Now, click on “Continue.”
  • Either enter your email id or phone number and click on “Sign-up/ Log in.”
  • Verify with OTP and set your password.
Sign Up
Sign Up

Fortmatic Pricing

Fortmatic pricing is generally divided into four parts:

Free:

The free users can enjoy the following features, including:

  • Unlimited sign ups and 250 Active users.
  • Around 10,000 requests per day.
  • Multi-Factor support and community support channel.
  • Ethereum Virtual Machine compatibility.
  • Working with web3.js & ethers.js.

Developer:

Under this, at the rate of $79 per month, users will be able to use all the features in the free plan, including:

  • 1000 Active users and around 500,000 requests per day.
  • Custom Theme Widgets.
  • Finally, a private group support channel.
  • Also, users can get a 14-day trial. 
Fortmatic Pricing
Fortmatic Pricing

Growth:

With the rate of $327 per month, users get all developer and free plan features, including:

  • 2,500 active users, and 1,500,000 requests per day,
  • Support of multi-blockchain,
  • One-to-one support channel and that too with 24-hour availability.

Enterprise:

The rates are flexible, and users can contact through the support to get more details. However, according to Fortmatic, they provide:

  • All features of the Growth plan.
  • Custom Integrations,
  • More than 1,500,000 requests per day,
  • VIP support and more.

Please note that unlimited sign-ups and active users are different.

Fortmatic Wallet Features

  • Accessibility- Compared to other tools like metamask, for interacting with dApps, Fortmatic can be run on any mobile device or browser. Therefore, users can quickly sign in and use the dApps irrespective of their location.
  • Compatibility- Not only can users access Fortmatic wallet from any device, but it’s also easy for developers to integrate its blockchain. Moreover, it is compatible with a wide range of blockchain platforms and just a few lines of code away from implementing it.
  • Customization- Fortmatic gives complete control of the UX to the developers. As a result, they can easily customize and embed the UX according to their requirements.

How to get started with implementing Fortmatic in your app?

To get started, developers have to create a “Developer Account,” which has to be connected with their Github. Then, follow the given steps to signup:

  • Click on the “get started” button on the website’s landing page or select “Developer” in the top left corner.
  • Click on the “signup with Github,” fill in your details and verify your id after entering the verification code. 

After creating a developer account, you can access your dashboard. The next step is to integrate Fortmatic SDK into your app. Follow the below steps and points to integrate it successfully:

  • Include Fortmatic SDK Script. Install Fortmatic SDK to your dApp by including a script tag between the “TODO” comment lines on the CodePen editor.          
Fortmatic Sdk Script
Fortmatic SDK Script
  • Setup Developer API Key.
Set Up Developer Key
Set up developer Key

Note: Get your API keys from your FORTMATIC dashboard.

  • Send Transaction Implementation.
Send Transaction Implementation
Send Transaction Implementation

This is all, and your first Fortmatic dApp is ready.

Please note that:

  • If your dApp is written using web3 and already works with MetaMask, it’s super easy to integrate with Fortmatic. All you have to do is swap your existing web3 provider with the Fortmatic provider and continue developing in the same version of web3 you use.
  • Furthermore, if you have replaced your web3 provider with a Fortmatic provider, nothing needs to be changed for the web3 ERC20 transaction to continue working.
  • The Fortmatic SDK offers its endpoint for logging users into and out of their Fortmatic wallets.

Is Fortmatic safe to use?

Yes, Fortmatic is safe to use and is one of the most secure platforms due to its non-custodial (admin can never see user’s private keys) Delegated Key Management architecture.

It delegates encryption and decryption operations to Amazon Web Services (AWS), Key Management Service (KMS), and Cognito. Another advantage to the users is they can directly interact with AWS’ KMS on the client-side.

At Fortmatic, all service communication only supports TLS (Transport Layer Security). As a result, user data transported between Fortmatic servers and the user browser is end-to-end encrypted. It will help to prevent man-in-the-middle attacks.

Delegated Key Management
Delegated Key Management

Fortmatic Support

Fortmatic has a separate section for customer support where you can enquire about your doubts. The Fortmatic support also contains an FAQ section organized into individual units, including transactions, fees, etc. The developer “FAQ” section is also there for developers to get their queries solved. Additionally, there is a “submit a request” column to submit your query along with your mail-id. Usually, it takes around 24 hours to receive any response. 

Fortmatic Support
Fortmatic Support

Pros & Cons

ProsCons
Quick and easy signup process.Pricing can be a bit high for users.
Accessible from any device.No app is available.
Highly secured wallet.
It gives web3 access.
Pay as per your needs.

Fortmatic Wallet Review: Conclusion

In crux, we can say that Fortmatic is a secure soft wallet, which allows users to use either their email-id or phone number to connect to the Ethereum-based applications. Furthermore, because of its easy integration of blockchain technology, some notable projects have been using it, including Bancor, OpenSea, Radar Relay, Airswap, and others. 

How can I deposit funds into my account?

-Visit the Fortmatic site, and click on the wallet.
-Enter your details and click on Login/ Signup.
-Now, click on the profile icon in the top left and click on add to Balance.
-Either purchase Ethereum or deposit it from your account.

Which tokens are supported by Fortmatic?

Fortmatic supports all types of Ethereum based tokens, including ERC20 tokens and NFTs.

Read More,

Nisha Yadav
Nisha Yadav

Hello, my name is Nisha, and I am a CSE student working hard to make my words and knowledge impact other people's lives technically and financially. Writing has always meant something to me, so here I am currently working at CoinCodeCap.

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