Wannabit: Cryptocurrency Web Wallet

This is an introduction to Wannabit, a cryptocurrency web wallet service based in South Korea. We are currently in private beta, and the official beta version will launch in May. Wannabit currently supports withdrawal and storage of Qtum & Qtum-based assets such as INK, HLC, SPC, and more. Our plan is to sequentially add ETH, NEO, Komodo, and many other cryptocurrencies to our wallet to provide a one-stop wallet solution for cryptocurrency users.

While there are quite a few web wallet platforms in operation right now, there are certain difficulties and inconveniences users face. Wannabit aims to eliminate these difficulties and provide a simpler and safer way to store and send cryptocurrencies and crypto-assets (tokens) for the general public.

Wannabit aims to solve three major problems:

1. Difficulty users face in transferring platform-based tokens from their wallets (i.e. QRC20 — Qtum tokens, NEP5 — Neo tokens, ERC20 — ETH tokens, etc.).

2. Inconvenience in managing and checking overall balance of several different wallets separately.

3. Having to use separate services and wallets to access different types of cryptocurrencies.

Wannabit will begin by supporting deposit & withdrawal of QTUM & QRC20 tokens and sequentially add ETH, NEO, KMD, and other cryptocurrencies.

Supporting Crypto-Asset Deposit & Withdrawal

Just like how Myetherwallet is commonly used when people want to join ICOs that issue ERC20 tokens, Wannabit can be used when people want to join Qtum-based ICOs that issue QRC20 tokens. Instead of using the QTUM desktop wallet that needs to download the entire QTUM blockchain in order to be updated, users can simply connect their wallet to Wannabit or create a new QTUM wallet and use it to participate in QTUM-based ICOs.

Wannabit also plans to add ETH, NEO, KMD and other cryptocurrencies to the platform to support deposit and withdrawal of all crypto assets (ERC20, NEP5, etc.) without the inconveniences native cryptocurrency wallets can bring.

‘My Wallets’ Function

‘My Wallets’ function allows users to register their wallet information on their account in order to have fast & easy access to their most frequently used wallets. Users can opt-in to use this function in order to conveniently check the balance of several wallets at once, and also make transactions from these wallets without having to enter their information (private key, Ledger PIN number, mnemonics, etc.) repeatedly.

When a user decides to register a wallet address to ‘My Wallets,’ the user’s information is encrypted and stored securely in our servers in order to prevent any data breach or malicious attempts to attack the server.

Once an address is registered in ‘My Wallets,’ users are required to enter their OTP code in order to make each transaction. From the user’s end, this process is much simpler and more convenient than having to enter the private keys or mnemonics of different wallets separately because the OTP code acts inclusively as the gateway to making transactions from every wallet.

All-In-One Wallet Solution

Because Ethereum has been around for a while, there are already several wallet services that support ERC20 token (Ethereum-based assets) withdrawal and deposit — most notably, Myetherwallet (MEW).

However, there are not many services that support ecosystems of other cryptocurrencies like QTUM, NEO, KMD, etc. We are beginning our service with QTUM and then adding other cryptocurrencies such as ETH, NEO, and KOMODO to create a wallet that can be used to access all cryptocurrencies and crypto-assets within one platform. Instead of having to download native wallets and blockchains of each cryptocurrency, users can simply log into their Wannabit account to manage and make transactions from all of their cryptocurrency wallets.

In conjunction with the ‘My Wallets’ function, users will be able to not only check the balance of one cryptocurrency wallet, but also the balance of their entire cryptocurrency asset and also be able to make secure transactions from those wallets conveniently.

Roadmap

Below is a brief development and progress roadmap of Wannabit

1. Complete English & Chinese version of Wannabit
2. Add Ethereum and ERC20 wallet to Wannabit
3. Fix bugs and complete development of official beta through feedback received during private beta by May

Please stay updated through following our Medium. We will post development and progress updates and announcements primarily through this channel.

For any questions or request to use our private beta, please contact:

help@wannabit.io