Faast is the product of Bitaccess, which is a Canadian based company specialized in BTMs, enterprise wallets, smart contracts and KYC services.

Faast aims to be a portfolio building and tracking application that also supports instant swaps on coins with the help of the Ethereum network. The good part is that the browser based application is working as client-side only meaning that it doesn’t store private keys and is also fully open source for anyone to view. It works similar to MyEtherWallet or MetaMask, but with the added ability to do trading, value tracking and portfolio tracking with added statistics. Currently the service mostly supports Ethereum and ERC20 tokens, but after using the site we find out that coins like Bitcoin and Litecoin will be supported later as well.

Users are able to import a wallet or to generate a new one on their website and will be able to unlock every feature afterwards. The wallet currently supports hardware wallets, software wallets and manual wallet creation. To make use of your TREZOR wallet for example, you have to first install Trezor Bridge and have the funds tokens ready for trading. Now for our the exact wallet options we get the following:

(Image taken from the Faa.st website)

After creating the wallet the user gets to the dashboard, which includes a pie-chart displaying the assets owned. The upper navigation bar includes a ‘Swap’ menu and an ‘Add wallet’. Going to swaps we will find the pretty intuitive feature that allows us to trade directly from our hardware wallets if we used one.

(Image taken from the Faa.st website)

The portfolio management feature and dashboard are obviously free to use. The Swap feature, that utilizes instant crypto exchanges between users, has a low pricing that includes a 0.5% swap fee, which is applied to both sides, an exchange rate that is based on real-time market data and a network fee for deposits and withdrawals that goes to miners only. This last part should mean that Faast doesn’t overcharge you and label it as a network fee like most exchanges do currently.

Altogether using their portal should mean that you are going to end up with cheaper fees compared to the current leading exchanges or in worst case will end up with similar fees, but users will be able to keep their privacy as there is no registration or KYC process.