The NEO blockchain platform has one of crypto’s most developed dApp ecosystems, with dozens of projects using having issued NEO’s native NEP-5 tokens. The most hyped of these projects is undoubtedly the Ontology Network (ONT), which recently completed a switch from being an NEP-5 token to its own network. Both NEO and ONT reward holders by distributing GAS, a secondary token which is used to fuel activity on each network.
For holders of NEO, ONT, or any of their associated tokens, there’s clearly a lot to keep track of.
The O3 Smart Wallet for iOS and Android allows users to track all their NEO, GAS, NEP-5, ONT, and ONT-G holdings in one convenient place. It also offers several cool features like direct integration with the Switcheo exchange and the ability to remotely monitor the balance of cold storage wallets.
Installing the App
Upon installing the app, users are prompted to either create a new wallet or import a private key from an existing wallet. I’ve previously used Peter LinX’s NEO App and used a private key from that, but despite rechecking the key several times, I was met with an error when trying to import it. I finally copied & pasted the private key directly from the other app and it worked immediately, but after confirming the key I’d been trying to use was definitely correct, it seems their may be some kind of bug with manually entering a private key.
The interface is very clean and intuitive, with a portfolio tab listing all current balances associated with the wallet. Only tokens that you actually hold are displayed. Given the growing number of tokens within the NEO ecosystem, this is a good design choice that leaves the app’s portfolio tab uncluttered.
Hitting the arrows either side at the top allows users to switch instantly between viewing their hot, cold, or combined wallet balances.
Giving users the ability to remotely monitor a cold storage address is a cool feature that helps boost the 03 Wallet’s functionality as an all-in-one solution for NEO and ONT token holders. It also helps boost security – even if someone gained access to your phone and hot wallet, they’d have no access to the cold storage wallets in your watch list.
Sending and requesting funds works smoothly, as does the QR code scanner. In short, the 03 Wallet performs all of its expected functions well. GAS and ONT-G is generated by NEO and ONT tokens held in the wallet, with the balance being updated seemingly in real-time.
Having your wallet directly linked to a decentralized exchange is another cool feature that may well become a default feature of next-generation crypto wallets as DEXs gain popularity.
There is no need to create an account with Switcheo – funds can traded directly from the app’s interface. Switcheo offers a range of trading pairs for NEO, GAS, and its native SWTH token. Switcheo’s interface is straightforward and will be familiar to users of any major crypto exchanges. The only difference is that you never need to transfer funds between the exchange and you wallet.
There are two things to note though. First, trading volume is very low. This may improve as the NEO ecosystem grows, but at the moment, those interested in active trading will still be relying on larger exchanges. The second point is that decentralized doesn’t mean feeless – Switcheo charges a 0.15% trading fee, with a 50% discount for using the SWTH token.
The 03 Wallet also allows users to swap ONT NEP-5 tokens to ONT mainnet tokens in-app. This process was performed instantly and was by the far simplest token swap I’ve experienced. One word of warning though – the app warns that the mainnet swap must be completed by the end of September. I completed the swap a day outside the deadline without any problems, but if you’ve still got ONT NEP-5 tokens, it may already be too late to use this feature.
The app is opened using the user’s device password, where most crypto apps require separate passwords (plus 2FA, in the case of most exchanges). This is a plus for ease of use and accessibility, but it does mean that you should probably heed the developers’ advice and keep larger balances in cold storage. Being able to monitor those cold storage balances directly from the app makes doing this as practical as possible.
An issue that’s been brought up on NEO’s subreddit is that removing the passcode from your device could look you out of your wallet. And if you haven’t made a note of your private key, this could potentially freeze you out your funds.
Rating – 5/5 ★★★★★
An attractive and intuitive interface, excellent functionality, and a few cool features mean the 03 Wallet is easily one of the best crypto mobile wallets currently available.