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Will Zhu
March 25, 2021
Updated: March 12, 2023


CRYPTO WALLETS: AN IN-DEPTH REVIEW OF FORMATIC





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Do you need a versatile crypto wallet to store Ethereum in? Or are you looking
for a more user-friendly solution for logging in to blockchain apps?

Either way, the Fortmatic wallet—recently rebranded to Magic—could be the
perfect choice for you.

Fortmatic is a platform for developers to integrate blockchain technology into
their applications. Blockchain integration is usually complicated, with dozens
of steps involved in authenticating and securing crypto accounts. It also comes
with the risk of having your crypto wallet breached, as crypto keys are publicly
viewable.

Fortmatic attempts to solve these problems by providing a secure system and a
simplified interface for app developers and their users. It’s an easy-to-use
alternative to web3 platforms like Metamask, allowing users to access
Ethereum-based applications from any device, without third-party extensions.

That’s not all that Fortmatic can do, however. It also includes a useful crypto
wallet for securely storing your digital assets. But is it the best wallet for
you?

To find out, keep reading this in-depth Fortmatic wallet review.

Contents hide
Fortmatic Background
Fortmatic Wallet Advantages
Accessibility
Compatibility
Security
User-Friendliness
Should You Use the Fortmatic Wallet?


FORTMATIC BACKGROUND

Fortmatic was started in 2018 by Sean Li, but he wasn’t always building crypto
wallets. Before founding Fortmatic, he was creating a platform called Kitematic,
which made certain software designed for Linux run better on Macs and PCs.
Kitematic was then acquired by Docker, a company Sean Li had worked for in the
past.

While working on Kitematic, Sean Li became interested in the Ethereum
blockchain. Since he also had a passion for making complex technology accessible
to everyday users, he built Fortmatic, which simplifies blockchain apps for less
experienced people.

In 2020, it was announced that Fortmatic would be changing its name to Magic.
Fortmatic also said that it had received $4 million in investor funding for its
future development. This is a good sign for Fortmatic users since it suggests
the platform will become more feature-rich and widely available in the future.


FORTMATIC WALLET ADVANTAGES

Why should you consider using Fortmatic yourself? Read on to find out.


ACCESSIBILITY

Whether you’re a developer or a crypto investor, Fortmatic’s ease of use is its
primary selling point.

Fortmatic is a tool that lets users interact with dApps, or decentralized
applications. These apps use blockchain technology to function, and normally
operate using Ethereum. But they’re also quite complex, and usually require
either a special browser or a browser extension to access.

This is the first place where Fortmatic stands out. Unlike other tools for
interacting with dApps, such as Metamask, Fortmatic can be run on any browser or
mobile device. This means Fortmatic users can easily sign in and use dApps, no
matter where they are.


COMPATIBILITY

Second to its accessibility, Fortmatic’s wide compatibility is a major
advantage. Fortmatic and its crypto wallet aren’t just easy for everyday users
to use. It’s also easy for developers to implement in their blockchain
applications.

Any dApp developer can integrate Fortmatic into a web3 program just by inserting
a few lines of code. Because of this, Fortmatic has grown quickly in the few
short years that it’s been available. It’s compatible with a wide variety of
blockchain platforms and used in many dApps. Thanks to its ease of
implementation, it will likely show up in many more places in the future.

Several noteworthy companies have partnered with Fortmatic to improve their
services for users. Some of them you may have heard about include Airswap,
OpenSea, Zerion, and Radar Relay, just to name a few.


SECURITY

Any time you’re logging into an online application, security should be one of
the first things on your mind. And when that application involves sensitive data
or finance, security is even more important.

Fortmatic had made itself famous for being easy to use, but thankfully it
doesn’t compromise on security. In fact, when integrated into blockchain
systems, it actually makes them more secure.

This is because Fortmatic removes the need for personal wallet keys to be
publicly viewable. In competing systems, hackers can download private keys and
use their own hardware to decrypt them, without being tracked. But when your
wallet keys are protected by Fortmatic, any attempt to hack into the system can
be identified and obstructed.

Fortmatic uses hardware security modules that are used by many of the best
custodial services in the crypto industry. But in addition to tight security,
they provide an easy way for users to log in to applications while keeping their
assets safe.


USER-FRIENDLINESS

User-friendliness has been the primary focus of this review. But just how does
Fortmatic work for users?

To use Fortmatic’s wallet, you must open a dApp or exchange that supports it.
For exchanges, simply find the option to connect your crypto wallet for payouts
and transfers. Then select Fortmatic from the list of available options, and
sign in using either your phone number or email address. Fortmatic will send you
a code via text or email so you can log in.

Logging in to a Fortmatic-supported dApp is similar, in that you will be given
the option to sign in with Fortmatic and then use your phone number or email to
receive an authentication code.

This process of logging in with Fortmatic is much simpler than alternative
platforms on the market.


SHOULD YOU USE THE FORTMATIC WALLET?

By now you should have a basic idea of what Fortmatic is, and who the Fortmatic
wallet is for.

If you frequently sign in to Ethereum-based applications, Fortmatic can help you
log in faster and more securely. It also provides optimum security for your
Ethereum coins, combined with the simplicity of an online wallet.

However, for traders or investors who simply want a flexible Bitcoin wallet to
store various coins in, Fortmatic might not be your ideal choice.

If you want to make the most of your crypto investments, keep reading our
blog to compare other crypto platforms.




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