Ramper | Buy ETH, BTC, and more in minutes

A crypto wallet is an application, device, physical medium, program, or service that stores the public and/or private keys for cryptocurrency transactions. This type of software is however not easy for everybody to use. There are many leading wallets used worldwide including coinbase, ZenGo, crypto.com, ledger, and binance. The global Cryptocurrency Hardware Wallet market size is projected to reach US$ 1220.1 million by 2027, from US$ 167.7 million in 2020, at a CAGR of 33.7% during 2021-2027.

The very basic step which annoys most of the users onboarding web3 is to connect the wallet which is a big hindrance. It's a tough job for beginners who have never interacted with decentralized applications earlier in their life. One has to take multiple steps to use decentralized applications. Firstly one has to download a specific wallet and it's a browser extension to sign up, also to store a private key, and transfer crypto into a specific decentralized application's wallet through an exchange.

Ramper

Enter Ramper, a company that provides simple login for blockchain applications to remove friction preventing the adoption of web3. It is making this task easier for its users by removing the friction that is to connect a wallet. The company was founded in 2022 and is based in San Francisco, California.

The leading investors include Polygon, #HASHED, and Terra. There are no hidden fees and also there is no charge for using their SDK/API. Its team includes Facebook, Tesla, Uber, Google, Apple, Compass, Toss, and Goldman Sachs. It has built products & infra to make web3 user-friendly for everyone.

Their first product is a suite of SDK/APIs that allows dApps to onboard users quickly without prior crypto knowledge. Its users can log in and sign transactions without the need to have a wallet client or its supporting browser extension.

Services

Ramper has designed and implemented their data management system that when a user is created, several things happen on the user’s local device (mobile/web browser): Firstly a new wallet (public address + private key) is created. Secondly, the private key is encrypted with a machine-generated high entropy Data Encryption Key (DEK), and envelope encryption is performed. Thirdly, DEK is sent to a third party (currently AWS KMS) to be encrypted with a Customer Master Key (CMK). And Lastly, The encrypted private key (encrypted by DEK) and the encrypted DEK (encrypted by CMK) are then stored in Ramper’s cloud infrastructure (GCP/Firebase). 

There are many interesting features which are coming very soon. It includes Multi-factor authentication which includes enabling OTP code, 2FA, and recovery email. Also, Multi chain compatibility will be providing SDK/API solutions for all the major chains. Other features include the Fiat on-ramp solution which would allow users to swap fiat for crypto in-app and Open source delegated key management architecture.

Visit their website to learn more.