Tag: Best cryptocurrency wallet

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Cryptocurrencies

BitBox02 Hardware wallet Review: How Safe Is The Bitbox Hardware Wallet?

Bitbox02 is a hardware crypto wallet developed by Shift Cryptosecurity AG, a technology company based in Zurich, Switzerland. It has a minimalistic design but packs a wide range of highly effective security features. And this falls in line with its mission of providing users with a secure and independent hardware wallet. According to the Shift Crypto website, the hardware wallet was developed by an international team of programming and crypto security specialists as an improvement of BitBox01.

Bitbox02 is a hardware crypto wallet developed by Shift Cryptosecurity AG, a technology company based in Zurich, Switzerland. It has a minimalistic design but packs a wide range of highly effective security features. And this falls in line with its mission of providing users with a secure and independent hardware wallet. According to the Shift Crypto website, the hardware wallet was developed by an international team of programming and crypto security specialists as an improvement of BitBox01.

Bitbox02 is a hardware crypto wallet developed by Shift Cryptosecurity AG, a technology company based in Zurich, Switzerland. It has a minimalistic design but packs a wide range of highly effective security features. And this falls in line with its mission of providing users with a secure and independent hardware wallet. According to the Shift Crypto website, the hardware wallet was developed by an international team of programming and crypto security specialists as an improvement of BitBox01.

Some of this wallet’s key features include an OLED display and invisible touch sensors for ease of navigation and a secure element, multi-signature support, and enterprise-grade encryption. In this review, we will be vetting BitBox02’s safety and ease of use by detailing its key security features, its step-by-step activation guide, number of supported currencies, and its pros and cons:

Key features:

Solid architecture: BitBox02 is ultralight, weighing only 12g. It is also made from a highly durable polycarbonate that can resist such elements as heat and water.

OLED display: BitBox02 features a white and 128*64 pixels OLED display. It plays a key role in easing in-wallet navigation and is large enough to fit a wallet address.

Invisible touch sensors: In addition to the OLED display is a range of invisible touch sensors that line up the sides of the wallet device. These also play a key role in navigating the wallet and approving outbound crypto transactions.

Desktop and mobile app compatible: BitBox02 is a cross-platform hardware wallet. It has a compatible desktop app for all the popular desktop operating systems like Windows, macOS, and Linux. Their website also hints at an upcoming mobile crypto wallet.

Multi-wallet: The wallet’s software is available in two downloadable data sheets; the BitBox02 multi and BitBox02 BTC. BitBox02 BTC ensures that the wallet will only support Bitcoin Cryptocurrency, while BitBox02 Multi supports popular cryptos.

Security features:

Password: Both the BitBox02 hardware wallet and compatible BitBox02 apps have a password as their primary deterrence against unauthorized access. You get to set both when activating the wallet and creating a user account.

Open-sourced: BitBox02 hardware wallet is highly transparent in that it is built on a fully open-sourced technology. This implies that both the app and the wallet firmware are open for viewing and auditing by wallet users and crypto security experts.

Secure element: BitBox02 wallet’s secure element is made up of dual chips that are used to store your encrypted private keys. The dual-chip architecture is designed using proprietary technology. They are also reinforced with a monotonic counter technology that limits the number of login attempts and a password stretcher that extends the amount of time required between login attempts while erasing the wallet contents after 15 unsuccessful attempts.

Instant backup: The BitBox02 hardware wallet comes with an SD card that you can use to back up your private keys. Unlike most other hardware wallets that provide you with an easy-to-forget recovery seed, the BitBox02 hardware wallet presents you with an SD card that you can use to back up your recovery seed instantaneously.

Enterprise-grade encryption: Your private keys, passwords, personal data held in your BitBox02 wallet is highly encrypted using the AES-256-CBC technology. Your wallet’s communications with other third party websites and systems are also subjected to end-to-end encryption.

Two-factor authentication: Outbound crypto transfers must also be subjected to two-factor verification processes.

Cold storage: Your private keys and any other personal data held in the wallet is held in offline cold storage. This gives you absolute control over your private keys and their backup.

FIDO-certified: BitBox02 wallet is FIDO certified as a Universal two-factor authenticator.

How to set and activate the BitBox Hardware wallet

Step 1: Start by ordering your BitBox hardware wallet on the Shift Crypto website.

Step 2: Download the BitBox02 desktop wallet app that’s compatible with your computer operating system.

Step 3: Plugin the hardware device (ensure the SD card is inserted)

Step 4: Chose a name for the wallet and create a unique wallet password.

Step 5: You will now have access to the BitBox02 wallet dashboard. Start by agreeing to the security information displayed to proceed.

Step 6:  On the ‘create a new wallet’ tab, enter your preferred wallet name, and create a password

Step 7: Remove the SD Card and keep it safe.

Step 8: The wallet is now active and ready to use

How to add/ receive crypto into your BitBox Hardware wallet

Step 1: Start by logging in to the BitBox02 wallet.

Step 2: If you are operating the multi-crypto wallet, select the coin you would like to receive

Step 3: Copy the wallet address or QR code and forward it to the party sending you crypto.

Step 4: Wait for the funds to reflect in your account.

How to send Crypto from your BitBox Hardware wallet

Step 1: Log in to your BitBox02 wallet

Step 2: If you are operating a multi-cryptocurrency wallet, select the coin you wish to send

Step 3: Enter the recipient’s wallet address and the amount of crypto you wish to send

Step 4: Insert the BitBox0 hardware wallet

Step 5: Confirm the transaction details on the hardware device and authorize the transfer by pressing the invisible touch sensors on the device.

BitBox Hardware wallet ease of use

The BitBox02 hardware wallet package doesn’t give you a manual/user guide, just a link to their website printed on the packaging box’s underside. It, however, is quite easy to use. Setting up the wallet, linking it with the desktop app, and creating a user account is quite straightforward.

Interacting with the app by sending or receiving crypto into the wallet or backing up your digital assets is also quite easy. And all these play a key role in making BitBox02 the most user-friendly hardware wallet.

BitBox Hardware wallet supported currencies and countries.

The number of cryptocurrencies supported by the BitBox02 hardware wallet depends on the firmware installed. You can choose BitBox02 BTC that will only support Bitcoin and Litecoin or BitBox02 multi that supports a wider range of cryptocurrencies.

You can also integrate the app with MyEtherWallet that makes it possible for you to support BTC, LTC, ETH, and 1000+ tokens.

BitBox02 wallet can be shipped to virtually every crypto-friendly country in the world.

BitBox Hardware wallet cost and fees

BitBox02 hardware wallet retails at €99.

You will only have to pay the variable crypto transaction fee when sending cryptocurrencies and tokens to another wallet or exchange.

BitBox Hardware wallet customer support

BitBox02 hardware wallet distributors have a highly responsive customer support team accessible via email or such Shift Crypto official social media pages on Facebook, Twitter, Instagram, Telegram, and follow their blogs on Medium.

What are the pros and cons of using the BitBox Hardware Wallet?

Pros:

  • BitBox02 hardware wallet has a strong emphasis on security.
  • It is easy to backup and recover your wallet using the SD card.
  • It is compatible with both desktop and mobile apps for easy navigation.
  • You can integrate MyEtherWallet that expands the number of supported currencies.
  • It is easy to use.

Cons:

  • Will only support a limited number of coins and tokens.
  • The screen is really small.
  • One may consider their €99 price tag restrictive.

Comparing BitBox Hardware wallet with other hardware wallets

BitBox Hardware wallet vs. Ledger Nano S wallet

Bitbox02 and Ledger Nano are both crypto hardware wallets that take pride in the number and effectiveness of integrated security features. Some of their similarities include integrating two-factor authentication, sleek design, and the fact that they both store your private keys in offline cold storage.

But unlike Ledger Nano S that supports 1000+ cryptocurrencies and tokens, the BitBox02 hardware wallet will only support a handful of crypto assets. Plus, while Ledger Nano S presents you with a set or recovery seed that you can use to backup your private keys. Unlike Ledger Nano S, however, BitBox02 has a simpler setup guide and supports multi-signature functionality.

Verdict: Is the BitBox02 Hardware Wallet safe?

Yes, BitBox02 hardware wallet embraces some of the most effective security measures. These include the fact that the wallet is open-sourced, is FIDO certified to serve as a Universal two-factor authenticator, two-step verification for outbound transfers, and backing up your wallet in an SD card. But these aren’t the only factors endearing BitBox02 to its users. Others include its rather straightforward setup process and its intuitive user interface.

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Cryptocurrencies

ICONEX wallet Review: Is It The Safest Neo Blockchain Wallet Yet?

ICONEX is the official wallet for the ICON blockchain network. It was developed by ICON Foundation and introduced to the crypto community in February 2018. And at the time of launching, the Iconex wallet was an online wallet – only available as an extension of the Google Chrome browser.

ICONEX crypto wallet app

ICONEX is the official wallet for the ICON blockchain network. It was developed by ICON Foundation and introduced to the crypto community in February 2018. And at the time of launching, the Iconex wallet was an online wallet – only available as an extension of the Google Chrome browser.

ICONEX is the official wallet for the ICON blockchain network. It was developed by ICON Foundation and introduced to the crypto community in February 2018. And at the time of launching, the Iconex wallet was an online wallet – only available as an extension of the Google Chrome browser.

In the last two years, however, the crypto wallet has been subjected to rigorous upgrades that saw the Icon foundation introduce a phone app version and integrate a host of security and operation features. These upgrades have especially been aimed at making ICONEX wallet easy to use, highly versatile, and one of the most secure ICON wallets today.

But what are some of these operational or security features? Have they been effective in making ICONEX easy to use and secure? We detail them here, provide you with a step-by-step guide on how ICONEX works, and tell you if it is a secure wallet in this review.

ICONex wallet key features

Cross-platform wallet: ICONEX is a cross wallet platform available as a web wallet and smartphone app. You can choose to use the Google Chrome ICONEX wallet extension online or download the ICONEX mobile wallet app from Apple App Store or Google Play Store.

Integrates hardware wallets: On the ICON website, the network is described as a versatile technological ‘protocol for connecting the blockchain world.’ ICONEX Wallet developers are looking to bring this versatility to the Icon vault by making it compatible with leading crypto hardware wallets like Ledger Nano S.

ICX token swap: ICONEX wallet integrates the ICEX token swap feature that you can use to convert ERC20 tokens to the ICX main-net tokens. The process of activating the token swap feature and using it to swap currencies is easy and straightforward.

Voting and staking options: You also get to share in the ICON network revenues as well as vote in block validators when you hold ICON tokens. However, you need to hold a significant number of ICON tokens before you can be allowed to participate in staking. When voting in block validators known as P-Reps (Public Representatives), each ICON token is equal to one vote. Plus, there can only be 22 P-Reps and 78 sub-P-Reps who govern the Icon Network.

Multi-account support: There is no limit to the number of wallet addresses you can host on the ICONEX crypto vault.

Security features

Passcode: When creating a user account on the ICONEX wallet, you will be required to create a unique six-digit passcode to secure the wallet.

Anonymous user registration: ICONEX wallet promotes user privacy and encourages anonymous crypto trading, given that it doesn’t ask for your personal information when creating a user account. The mobile app or the browser extension will neither collect nor store client information.

Wallet backup: ICONEX makes backing up your wallet and the digital assets therein quite easy by providing you with a downloadable copy of the recovery seed. It also presents you with a printable copy of the private keys. Moreover, you have the option of copying this sensitive wallet information down on a piece of paper and storing them safely offline.

Non-custodial: ICONEX wallet is also non-custodial in that it doesn’t store private keys on your behalf. Rather, these are highly encrypted and saved within your device.

How to set and activate the ICONEX wallet

Step 1: Start by downloading the ICONEX wallet that is compatible with your smartphone or the Chrome browser extension.

Step 2: Install and launch the wallet.

Step 3: On the user dashboard, select “Create a wallet.”

Step 4: The wallet will request you to choose the default wallet address between ICON and Ethereum – select ICON (ICX)

Step 5: Come up with a unique wallet name and create a wallet password

Step 6: The wallet will present you with a wallet backup file. Download and keep it safe. You are advised to save it in an offline device, for example, a USB Flash drive, and don’t keep a copy on your device.

Step 7: You will then be presented with your wallet’s private key. You can copy it, save it on an offline device, print a hard copy, and keep it safe.

Step 8: Your ICONEX wallet is now active and ready for use.

How to add/receive crypto into your ICONEX wallet

Step 1: Log in to your ICONEX wallet and on the user dashboard, click on the ‘ICON’ tab

Step 2: On the deposit screen, copy the deposit address or the QR code and forward them to the party sending you ICON tokens

Step 3: Wait for the tokens to reflect in your wallet.

How to send crypto from your ICONEX wallet

Step 1: Log in to your INCONEX wallet and on the user dashboard, click on the ‘ICON’ tab

Step 2: Tap on the ‘Transfer’ icon

Step 3: On the transfer screen, enter the recipient’s wallet address and the number of coins you wish to send

Step 4: Confirm that those details are correct and hit send.

ICONEX wallet ease of use

ICONEX wallet is highly intuitive and maintains an easily navigable user interface specially designed to appeal to both the experienced and beginner crypto investors. The onboarding process is easy, and their sending and receiving processes straightforward. Most importantly, the user dashboard is very elaborate, with just a few buttons carefully placed on the site.

ICONEX wallet supported currencies and countries

ICONEX is a multi-currency wallet app that hosts several cryptocurrencies, including ICON Tokens, Ethereum, and ERC-20 tokens.

ICONEX wallet cost and fees

You won’t be charged for downloading and installing the INCONEX wallet or storing your altcoins and tokens therein.

However, you will be charged a small network fee whenever you send these coins or tokens to another wallet or exchange. A similar charge applies when you convert ERC-20 tokens to ICON tokens. These are collected by the ICON network and not the ICONEX wallet, and the extent of the fee is largely dependent on the type of altcoin you want to send and the transaction amounts.

ICONEX wallet customer support

There are several ways that you can use to access the ICONEX wallet customer support team. You can start by raising a support ticket on the ICONEX website. Similarly, you can consult the website’s rather elaborate FAQ page that details solutions to all the common challenges faced by ICONEX wallet users. You may also consider joining the ICON community forum and have your queries responded to by both experienced ICONEX wallet users and the wallet developers. For more sensitive issues and faster responses, contact the ICONEX wallet support team via the different social media platforms.

What are the pros and cons of using the ICONEX wallet?

Pros:

  • ICONEX wallet is easy to use and beginner-friendly.
  • It is highly versatile and available as a web wallet and crypto vault app.
  • You can boost the wallet security by integrating it with a hardware wallet.
  • ICONEX embraces multiple security measures to keep your wallet safe.

Cons:

  • It will only support a limited number of coins.
  • It is not a Multi-signature wallet, and it doesn’t support two-factor authentication.

Comparing ICONEX wallet with other multi-currency wallets

ICONEX wallet vs. eToro

ICONEX and eToro share such common features as their support for different currencies, they both have an inbuilt exchange, and they are the official wallets for their specific networks. They also have highly responsive customer support teams and are considered easy to use.

However, while eToro supports more than 20 crypto and fiat currencies and integrates its proprietary and fully-fledged crypto exchange, ICONEX can only host Ethereum, ICON, and ERC-20 tokens and have a token swap platform in place of a crypto exchange.

Verdict: Is the ICONEX wallet safe?

ICONEX has integrated several features and put in place measures aimed at keeping the wallet secure and its contents private. At the forefront is the six-digit passcode that doubles up as an encryption tool. Plus, the wallet allows for anonymous user registration and trading by not asking for client information when signing up nor collect any information that may be personally identifiable to you. These, plus the fact that it is a non-custodial wallet, makes it relatively secure. We nevertheless must mention that the fact that it is non-custodial and does not integrate handy security features like 2FA only makes it ideal for smallholder and active crypto traders. 

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Cryptocurrencies

NEM Mobile Wallet Review: How Safe Is This NEM Network Crypto Wallet?

NEM Mobile wallet is the official smartphone app vault for the New Economy Movement (NEM) network.

NEM Mobile wallet app

NEM Mobile wallet is the official smartphone app vault for the New Economy Movement (NEM) network.

NEM Mobile wallet is the official smartphone app vault for the New Economy Movement (NEM) network.

It is the light version of NEM’s desktop client and home to NEM network’s native token – XEM. And in addition to hosting virtually all the desktop wallet features, NEM mobile wallet is more convenient, especially when you consider its portability and relatively faster transaction processing speeds.

Launched in 2014, NEM mobile wallet is specially designed to provide the most secure and highly intuitive vault for XEM and other cryptos developed on the NEM network.

In this review, we will be looking at the measures taken by its developers to ensure the wallet achieves these two functions. We also highlight such factors as ease of use, supported crypto, and pros and cons before comparing it to the NEM desktop wallet.

Key features:

Versatile: NEM mobile wallet app is available for smartphones using iOS and Android operating systems.

Synchronization with the desktop client: You can easily synchronize the NEM mobile wallet with its NEM desktop client. Synchronizing the two wallets ensures that transactions initiated on the mobile wallet reflect on the desktop client in real-time and makes it possible for you to export accounts created on the mobile app to the desktop wallet.

Multi-account support: There is no limit to the number of NEM user accounts you can create using the mobile wallet. And you can also manage them via the app or export them to the desktop client to generate blocks for XEM transactions.

Send XEM/Mosaics/Messages: The app allows you to send and receive XEMs and other NEM network-based tokens. Interestingly, you can also use the app to send Mosaics and personalized messages to other NEM wallet users.

Security and privacy features:

Password and 2FA: When installing the NEM mobile app and creating a user account, you will be required to secure the crypto wallet app with a multi-character password. You also have the option of fortifying this wallet app further by activating the two-factor authentication feature.

Hierarchically deterministic: The wallet app also guarantees the privacy of your private keys by virtue of being hierarchically deterministic. This implies that every time you initiate a transaction, the wallet auto-generates a new address. This minimizes the exposure of your real wallet address and makes it hard to track your crypto transactions.

Multi-signature: NEM Mobile wallet also supports the multi-signature functionality that allows for the creation of multi-signature contracts. It also means that the wallet is sharable.

Military-grade encryption: All the data collected and stored within the NEM mobile wallet app is highly encrypted. This includes the private keys, your data, and outgoing mosaics and messages.

Non-custodial: NEM mobile wallet app is also non-custodial and doesn’t store the private keys for your XEMs on the NEM Foundation servers. Instead, these are stored in your device, giving you absolute control over your digital assets.

External backup: In addition to exporting your accounts to the NEM desktop client, NEM mobile app also allows you to back up your private keys by exporting them to an external drive.

Community-led development: The NEM network and wallets are managed and maintained by a group of independent blockchain experts elected by the NEM community. The community’s involvement in pioneering developments and auditing the wallet’s code goes a long way in guaranteeing the transparency of the crypto wallet.

How to set up and activate the NEM Mobile wallet

Step 1: On the official NEM Network website, download the NEM mobile app that’s compatible with your phone’s operating system

Step 2: Install and launch the wallet

Step 3: Agree to the NEM wallet app warning about backing up your funds and responsibility for the funds

Step 4: Set a strong multi-character password for your NEM wallet app

Step 5: Click on ‘Add Account’ to create a user account and wallet address

Step 6: Back up the generated private key for the wallet by copying it and saving it in the phone or write it down to save it offline

Step 7: Your NEM wallet app is now active and ready to use

How to add/receive coins to NEM Mobile wallet

Step 1: Log in to your NEM mobile wallet, and on the user dashboard, click ‘Receive.’

Step 2: Copy your wallet address or its QR Code and send either to the party sending you XEM tokens

Step 3: Wait for the tokens to reflect on the crypto wallet app

How to send crypto from NEM Mobile wallet

Step 1: Log in to your NEM mobile wallet, and on the user dashboard, click ‘Send.’

Step 2: On the next window, key in the recipient’s wallet address and the amount of XEM tokens you wish to send

Step 3: Enter the message you would like to send (optional) and enter the maximum transaction fees

Step 4: Confirm the accuracy of these details and hit ‘send.’

NEM Mobile wallet ease of use

NEM mobile wallet’s onboarding process is easy and straightforward. The crypto app’s user interface is also easy to navigate and specially designed for beginner traders. The processes of sending crypto out and into the wallet are also easy and straightforward.

NEM Mobile wallet supported currencies

NEM mobile wallet is the official crypto vault for the NEM network. Therefore, it will only host the network’s native cryptocurrency – the XEM Token – or other cryptos built using the NEM network technology. It won’t support such legacy coins as Bitcoin and Ethereum. It also doesn’t have an integrated exchange where you can convert your fiat and cryptocurrencies for XEM tokens.

NEM Mobile wallet cost and fees

Downloading and installing the NEM mobile wallet app is free. You also won’t be charged for creating a user account or holding your private keys in the wallet. However, you will be charged a small transaction fee every time you send XEMs to another wallet or exchange.

The network has embraced the Reduce by fee transaction pricing model. This gives the choice of setting your desired transaction fee, where higher fees translate to faster transaction processing and vice versa.

What are the pros and cons of using NEM Mobile wallet

Pros:

  • NEM Mobile wallet is highly intuitive and beginner-friendly
  • The wallet is considerably secure and embraces such premium security and anonymity features like two-factor authentication, military-grade encryption, and HD wallets
  • The crypto wallet app simplifies the process of backing up your private keys to external drives and offline
  • The wallet has never been hacked
  • Its open-sourced nature and community-led development nature provide users with a transparency guarantee

Cons:

  • The mobile wallet will only support XEM tokens
  • The mobile wallet app is still exposed to the inherent risks associated with online crypto vaults

Comparing NEM Mobile wallet to other NEM wallets

NEM Mobile wallet vs. NEM Nano Wallet

The NEM mobile wallet and NEM desktop client (also known as Nano wallet) are the official crypto storages for the NEM network. They host an almost similar number of features and are also designed to achieve similar roles. The desktop client, however, hosts more operational and security features than its mobile counterpart. The mobile wallet app can, on the other hand, be considered more efficient and easier to use.

Verdict: Is the NEM Mobile wallet safe?

Well, the mobile crypto app has put in place several safety and anonymization measures that are aimed at keeping your cryptos safe. These include enabling two-factor authentication, open sourcing the wallet technology, bringing onboard blockchain experts for the wallet’s development and maintenance, and supporting offline backups for your private keys. And all these, plus the wallet’s highly intuitive interface, make NEM mobile one of the friendliest and most secure crypto wallet apps. This security guarantee is backed by the fact that the wallet app has never been hacked.

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Cryptocurrencies

GateHub Wallet Review: Is It A Safe Cryptocurrency Wallet Or A Scam? 

Gatehub wallet started off in 2014 as a Ripple-specific web-based wallet. In the past five years, however, it has morphed into the more popular Gatehub platform we know today. It not only supports more coins and functionalities but also introduced the Gatehub mobile and desktop apps. 

Gatehub wallet started off in 2014 as a Ripple-specific web-based wallet. In the past five years, however, it has morphed into the more popular Gatehub platform we know today. It not only supports more coins and functionalities but also introduced the Gatehub mobile and desktop apps. 

Gatehub wallet started off in 2014 as a Ripple-specific web-based wallet. In the past five years, however, it has morphed into the more popular Gatehub platform we know today. It not only supports more coins and functionalities but also introduced the Gatehub mobile and desktop apps. 

Gatehub Limited, a UK-based fintech company, created the wallet on the XRP Ledger Protocol. And according to their website, the wallet is designed to provide crypto enthusiasts with true value. But how safe is the wallet? What are some of its key features? Is it easy to use, and what are its pros and cons?

We answer this and more in this Gatehub wallet review.

GateHub wallet key features: 

  • Highly versatile wallet: Also known as the No. 1 XRP Ledger wallet, Gatehub is highly versatile. It is currently available as a web wallet and desktop app. According to their website, however, the Gatehub mobile wallet app is coming soon. So is the revolutionary Gatehub card. 
  • In-built trading platform: The Gatehub wallet also integrates an inbuilt trading platform. It is highly intuitive and easy to use for both expert and beginner traders. Here, you get to trade all the supported currencies as well as over 100 IOUs hosted on the XRP ledger network. 
  • Diverse payment options: Gatehub wallet also supports a wide range of payment options. You can, for instance, fund your wallet using both Fiat or Crypto. You can also leverage such other payment methods as Web Monetization, PayID, SEPA, Wire transfer, and other blockchain-based payment options on XRP Ledger. 
  • Analytics: Analytics is one of the most unique operational features on the Gatehub wallet. It helps you monitor your portfolio and track your net worth in real-time. 
  • Cashflow monitor: Gatehub wallet also features the Cashflow monitor that lets you see track your expenses. It shows you when you spent and received funds into your account. This goes a long way in helping you make sound financial decisions. 

GateHub wallet security features: 

  • Password: You will be required to set a strong password to secure your Gatehub wallet when registering your user account. 
  • Two-factor authentication: All of Gatehub wallet accounts must have the two-factor authentication enabled. This provides additional protection and goes a long way in guarding against remote wallet access. 
  • Open-sourced: The Gatehub wallet is developed using open-sourced technology. This implies that blockchain experts and internet security experts have prodded the wallet for possible loopholes and found it safe to use. 
  • Enterprise-level encryption: Gatehub wallet employs AES encryption. This is enterprise-level encryption that Gatehub uses to encrypt all data stored within the wallet, from personal information to the private keys. 
  • Device verification: Gatehub wallet will also whitelist common devices used to access your wallet. Every time you use a new device or a login with a new IP address, the platform subjects you to additional verification procedures. 
  • Network forensics: The Gatehub platform, in conjunction with several other blockchain-based networks, maintains a list of all fraudulent crypto addresses. Gatehub wallets will, in effect, warn you every time you wish to send cash to these wallets. 
  • Ripple wallet Gatehub wallets are also multi-signature. Each transaction is three-prong and requires authorization from three sets of keys: the user key, Gatehub wallet key, and backup key. This ensures that no one party can initiate the transaction without involving the other.

GateHub Wallet Setup and activation

Step 1: On the official Gatehub Wallet website, click the “Sign Up” tab.

Step 2: Proceed to enter your registration details (email address and password) and agree to the wallet’s terms of use. 

Step 3: The site will then provide you with a 32-character recovery key that you can use to reset the wallet password. Write it down on a piece of paper and store it safely or choose to download the digital copy.

Step 4: You will then need to verify the email address provided and activate the wallet. Check your email and click on the “Activate Account” button.

Step 5: Log in to your wallet and decide on the type of account you wish to register (individual or company).

Step 6: Complete registration by providing additional personal details like your phone number, name, and uploading a photo of yourself. 

Step 7: The account is now active, and you can proceed to add/receive crypto.

How to add/receive crypto into GateHub wallet 

Step 1: Log in to your Gatehub wallet, and on the user dashboard, click on the “Wallet” icon.

Step 2: Click on the ‘Deposit/Receive’ icon to reveal the wallet address. 

Step 3: Copy the address and send it to the party, sending you cryptos.

Step 4: Wait for the cryptos to reflect on your wallet.

How to send crypto on GateHub wallet

Step 1: Log in to your Gatehub crypto vault account and click on the wallet.

Step 2: Click on the ‘Send Payment’ icon.

Step 3: Enter your password.

Step 4: Select the crypto you wish to send and the key in the recipient’s wallet address plus the amounts you wish to send.

Step 5: Ensure that these details are correct and click ‘Confirm.’

GateHub wallet ease of use:

Registering an account on Gatehub is easy and relatively straightforward. It is also highly intuitive and easy to use for both expert and beginner crypto enthusiasts. It also features some of the most important features that include the inbuilt trader, portfolio tracker, and personalized analytics. 

Supported cryptocurrencies and countries

While Gatehub started as an XRP-specific wallet, it has since expanded its scope and currently supports eight cryptocurrencies (Ripple, Bitcoin, Dash, Ethereum Classic, Ethreum, Xaurum, Augur, and Quantum). It also supports hundreds of fiat currencies. 

GateHub wallet cost and fees

Registering a user account on the Gatehub wallet is free. But Gatehub adopts a rather complex pricing structure, especially when it comes to the exchange of Ripple. For instance, when sending Ripple, you will be charged with 0.2%. On the other hand, Bitcoin-to-Ripple conversion attracts 0.2%, while all other conversions attract a 0.3% fee. 

Comparing GateHub wallet with other crypto wallets

GateHub wallet vs. Freewallet

Gatehub Wallet and Freewallet have several common features. They are both custodial wallets, they are free to acquire, and have some of the most intuitive interfaces. Nevertheless, unlike the Gatehub wallet that only supports eight cryptos, Freewallet supports more than 100 cryptocurrencies. Plus, Freewallet avails both single and multi-currency wallets.

One may also consider Gatehub wallet’s pricing model rather complex when compared to the dynamic fee structure adopted by Freewallet. Though custodial, Gatehub wallet, and Freewallet have different approaches to storing client private keys. While Freewallet holds user keys in their servers, Gatehub holds its user’s private keys in highly encrypted third-party servers. 

What are the pros and cons of GateHub wallet

Pros:

  • The highly intuitive nature of the Gatehub wallet makes it one of the most user-friendly crypto vaults.
  • Gatehub wallet supports both crypto and fiat currencies.
  • The wallet is highly versatile and available as a web interface, desktop, and mobile app.
  • It also employs a series of highly effective security features, including 2FA and network forensics.
  • Gatehub wallet features a wide range of features that include analytics, portfolio tracker, and in-built trader.

Cons:

  • Gatehub wallet will only support a few cryptos.
  • Gatehub wallet has had a low reputation after the 2017 hack.
  • While it supports multiple payment options, these don’t include debit and credit cards.
  • The wallet has a relatively complex pricing structure.

Verdict? Is it safe or a scam?

In 2017, Gatehub wallet was hacked, and more than 23.2 million Ripple coins ($9.5 million) were stolen. Since then, Gatehub Wallet has continually worked towards embracing more solid security measures. It has, for instance, embraced 2FA, open-sourced the wallet’s technology, partnered with anti-fraud organizations to identify fraudulent wallet addresses, and introduced device verification measures. These have gone a long way in making Gatehub one of the most secure wallets. But its reputation is still at its lowest, especially after it failed to compensate its clients for the coins lost. 

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Crypto Exchanges

Samourai Wallet Review 2020: Is This The Safest Bitcoin Software Wallet?

Samourai is a bitcoin-only crypto wallet app for android smartphones. It takes pride in incorporating the broadest range of security and privacy features on its mobile app. On their website, Samourai is described as a “modern wallet hand forged to keep your transactions private and identity masked.” It was created by privacy activists who describe it as the “Bitcoin wallet for the streets.” They also hail it as the wallet that “Bitcoin deserves.”

Samourai is a bitcoin-only crypto wallet app for android smartphones. It takes pride in incorporating the broadest range of security and privacy features on its mobile app. On their website, Samourai is described as a “modern wallet hand forged to keep your transactions private and identity masked.” It was created by privacy activists who describe it as the “Bitcoin wallet for the streets.” They also hail it as the wallet that “Bitcoin deserves.”

Samourai is a bitcoin-only crypto wallet app for android smartphones. It takes pride in incorporating the broadest range of security and privacy features on its mobile app. On their website, Samourai is described as a “modern wallet hand forged to keep your transactions private and identity masked.” It was created by privacy activists who describe it as the “Bitcoin wallet for the streets.” They also hail it as the wallet that “Bitcoin deserves.”

The wallet integrates more security and privacy features than the average Bitcoin storage app. But have these translated to making Samourai the safest Bitcoin wallet? Importantly, how have they impacted its effectiveness? In this Samourai review, we highlight and detail the wallet’s key operational, security, and privacy features before telling you if it really is the safest bitcoin wallet out there.

Samourai wallet key features:

  • Segwit support: Samourai was one of the earliest Bitcoin wallet apps to embrace the SegWit Bitcoin blockchain upgrade. The protocol upgrade has played a key role in pushing down the blockchain network transaction fees and speeding up transaction speeds.
  • SMS commands: You can also control the app remotely with SMS commands. Send SMS codes to the wallet to retrieve either the public address or wipe the data therein.
  • Android-based: Samourai wallet app is only available for smartphones that use the Android operating system. The app developers claim that Apple iOS doesn’t welcome most of the customizable privacy and anonymity features of the Samourai wallet.
  • Multi-account support: Samourai wallet will only host Bitcoins. Though it is not multi-sig, there is no limit to the number of user accounts you can create.
  • Bitcoin health monitoring: The Samourai wallet is regularly monitoring the blockchain network. It will alert you when transaction processing speeds are relatively low and inform you of the current miner fees.
  • Batch processing: You can aggregate multiple crypto transactions and send them out as one. This, plus the reduce-by-fee feature, play a key role in pushing down the bitcoin transaction fees.

Samourai wallet security features:

  • Passcode: A 5 to 8 digit passcode secures the mobile wallet app. To evade keyloggers and screen recording spy apps, its PIN screen is randomized during every login.
  • Open source: The Samourai wallet app technology is also open-sourced. Anyone can view and audit its transparency.
  • AES-256 encryption: Samourai wallet app uses the AES 256 encryption tool to encrypt all its data. This military-grade encryption applies to all data held within the app, especially your private keys and password. Interestingly, you can also encrypt your email communications with the Samourai customer support to avoid possible man-in-the-middle attacks.
  • Recovery seed: You will also be furnished with 12 random phrases when installing the wallet app. These form your wallet’s recovery seed and are needed to recover your private keys.
  • Tor and VPN support: You can also access your wallet app using an anonymous IP not tied to your location or phone. Similarly, you can also open the app while masking your IP Address with a VPN or Tor.
  • No address reuse: The Samourai bitcoin wallet app is hierarchically deterministic and will not use the same address twice. It auto-generates a new wallet address for each transaction. It also randomizes change outputs, making it impossible for crypto transaction trackers to link a crypto activity to your wallet.

How to set up a Samourai software wallet

Step 1: Search for the Samourai bitcoin wallet on your Google Play Store. Download and install the app. Alternatively, use the F-Droid repository to download the Samourai wallet APK if you don’t want Google to keep a record of the download.

Step 2: On launching the app, click on ‘Create Account,’

Step 3: You will be required to set up a 5 to 8 digit to secure the wallet.

Step 4: The app will provide you with the recovery seed. Write it down and keep it safe.

Step 5: The app installation process is now complete and you can now start using the Samourai wallet

How to add/receive bitcoins to your Samourai wallet

Step 1: Launch the wallet app and click on the ‘Receive’ tab

Step 2: Copy the wallet address and send it to the party sending you Bitcoins

Step 3: Wait for the Bitcoins to reflect on your app

How to send Bitcoin from your Samourai wallet

Step 1: Launch the wallet and click on the ‘Send’ tab

Step 2: Enter the recipient’s wallet address as well as the number of Bitcoins you want to send

Step 3: Chose the transaction fee level you would like to use in funding the transaction

Step 4: Confirm that the transaction details are correct and hit send

Samourai wallet ease of use

Setting up the Samourai Bitcoin wallet app is quick and straightforward. The wallet can also be considered simplistic and features a highly intuitive user interface. These make it easy to use for both expert and beginner bitcoin traders.

Supported cryptocurrencies

Samourai crypto wallet app is Bitcoin-specific and will only support the legacy cryptocurrency.

Samourai wallet cost and fees

Samourai Bitcoin wallet app is free to download. Further, you wouldn’t be charged to receive or store your bitcoins in the wallet.

Transfers out will, however, be subjected to both the bitcoin blockchain network fee that goes to miners and an additional transaction fee charged by Samourai. It, however, employs the reduce-by-fee protocol to help you customize the wallet transaction fees. This supports three fee levels: AUTO uses the smart fee detection algorithm to determine the best transaction charge. PRIORITY translates to higher fees for faster transaction processing while CUSTOM lets you set your own fee.

Some premium security and privacy features available on the platform are only available on a subscription basis. If you, for instance, wish to use the app’s Ricochet service, you will have to pay an additional $2.50. Similar privacy features like staggered delivery or opening a private payment channel will also attract additional charges. 

Samourai wallet customer support

Samourai has an elaborate FAQ page that addresses all the most common challenges faced by the app users. It also features guides on how to use and interact with the Bitcoin-first wallet app.

More personalized support can, however, be sought via live chat on the Samourai website. You can also contact the Samourai wallet customer support team by messaging them on their different social media platforms, including Twitter, Reddit, and Telegram.

What are the pros and cons of the Samourai Wallet?

Pros:

  • The Bitcoin wallet app integrates a wide range of both standard and premium security and privacy features
  • Samourai supports anonymous user registration and can also be accessed via VPN or TOR
  • The app is free and supports a dynamic transaction fee processing that allows for the customization of the blockchain network fees
  • Setting up the wallet app is easy and it also features a friendly interface
  • It is now possible to initiate private or offline bitcoin transaction when using Samourai wallet
  • Samourai has a highly responsive customer support team

Cons:

  • The wallet app will only support the blockchain cryptocurrency
  • Samourai is a hot wallet app and therefore exposed to inherent risks associated with a mobile app
  • The app charges extra fees every time you use premium security and privacy features
  • The app doesn’t have an inbuilt exchange and neither does it integrate third-party exchanges

Verdict: Is Samourai the safest Bitcoin wallet app?

Well, the Samourai bitcoin wallet app has embraced more security and privacy features than most other crypto wallet apps. It, for instance, is one of the few crypto wallet apps that support offline transactions. The app will also help you establish private channels that you can use to send Bitcoins outside the trackable blockchain network.

It also lives true to bitcoins primary goal of anonymity by supporting anonymous wallet use and access via VPN and TOR. These make it one of the most secure and most private bitcoin wallet app. The only downside to using the Samourai wallet app is that it is a hot wallet.