Tag: Best DeFi wallets

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Cryptocurrencies

JWallet Review: Is JWallet The Most Secure Wallet For Ethereum Tokens?

Jwallet is a multi-coin cryptocurrency wallet developed by Jibrel Network and introduced to the crypto community as one of the safest token wallets. It is Eth-specific and specially designed to host ERC-20 tokens, collectibles like ERC-721 tokens, Non-Fungible tokens, and custom tokens.

Jwallet is a multi-coin cryptocurrency wallet developed by Jibrel Network and introduced to the crypto community as one of the safest token wallets. It is Eth-specific and specially designed to host ERC-20 tokens, collectibles like ERC-721 tokens, Non-Fungible tokens, and custom tokens.

Jwallet is a multi-coin cryptocurrency wallet developed by Jibrel Network and introduced to the crypto community as one of the safest token wallets. It is Eth-specific and specially designed to host ERC-20 tokens, collectibles like ERC-721 tokens, Non-Fungible tokens, and custom tokens.

Jibrel website describes Jwallet as an institutional-grade crypto vault that seeks to provide users with an all-in-one platform to store, interact with, and exchange eth tokens. It has since incorporated a wide variety of operational and security features that make it the next generation token-wallet you can use to secure and easily manage your digital assets.

But is Jwallet as safe and easy to use as the Jibrel website claims? We will be answering these issues by looking at the wallet’s key features, the number of supported currencies, vetting its ease of use, and outlining the step-by-step guide on how to activate and use this Jibrel crypto wallet.

JWallet key features:

Cross-platform: Jwallet is a multi-device and cross-platform wallet. It is available both as a mobile app for both Android and iOS devices. It is also a web wallet that’s accessible via the computer and phone web browsers.

BYOT: JWallet features the Bring Your Own Token (BYOT) service that allows you to import custom tokens and add them to your wallet. The tokens don’t have to be publicly listed, plus the process of importing tokens to the wallet and adding them to the wallet is easy and straightforward.

Portfolio tracker: The Jibrel network website refers to the crypto vault as an enterprise-grade wallet with banking-grade tracking tools. These allow you to view your transaction history and monitor your crypto balances in real-time.

Address book: JWallet also features an address book that integrates your contact list. This contact feature makes it possible for wallet users to integrate their phone’s address book with the wallet and save more contacts and wallet addresses of the parties you interact with regularly.

Inbuilt exchange (JCash): JWallet features an inbuilt decentralized exchange where wallet users can buy, sell, and exchange eth-tokens for other tokens or stable tokens. The value of these stable tokens is pegged on either fiat currencies or commodities using smart contracts. The exchange service is powered by J Cash, a proprietary currency conversion tool by Jibrel Network.

Integrates DeFi apps: JWallet is built on the Ethereum network and integrates the Decentralized Finance apps and protocols like MakerDAO that wallet users can leverage and use to generate incomes.

JWallet security features:

Passcode + Biometrics: Jwallet is passcode-secured, which you get to set when creating a user account. You can also reinforce this with such Biometrics as the Face or fingerprint I.D.

Non-custodial: JWallet does not collect any user data. It also won’t store your private keys or copies of it on the company servers. Rather, all your sensitive wallet data, especially the private keys and such other sensitive information like wallet passwords, are encrypted and stored locally – in your phone or computer device.

Recovery seed: The crypto wallet also makes it possible for you to backup your private keys and wallet data. You will receive a set of 12 phrases that form the wallet’s recovery seed during installation. Write these down on a piece of paper and keep it safe offline. You will need this backup seed to recover lost keys or open the wallet on a new device.

Highly regulated: Unlike most other crypto wallet apps, JWallet is highly regulated. To use some of the wallet’s core features and interact with its fundamental services, like J Cash, you will be required to first verify your identity by completing the KYC and AML procedures.

Client-side encryption: JWallet also embraces client-side crypto encryption. This implies that all your wallet data and any communication with the Jibrel company servers or third party systems are encrypted before they leave the wallet.

How to activate/ setup the JWallet

Step 1: Start by downloading your JWallet cryptocurrency app compatible with your device on either Google Play Store or Apple App Store.

Step 2: Install and launch the wallet app. Click on the “Create a new wallet” icon on the wallets installation page.

Step 3: Agree to the Jibrel wallet’s terms of use and privacy policy.

Step 4: Create and verify the wallet password, and create a hint for the password

Step 5: You now have access to the Jwallet user interface

Step 6: Click on the “settings” icon on the bottom left corner of the wallet and select “Manage wallets.”

Step 7: Select your wallet, click on the three dots on the right side of the wallet, and tap on the ‘Backup’ option to generate the wallet’s recovery seed.

Step 8: You can then use the settings icon and manage wallets option to personalize your Jwallet, like converting it to a multi-address wallet or activating biometric security features

Step 9: Your JWallet is now active and ready for use

How to add/receive Crypto into JWallet:

Step 1: Log in to your JWallet crypto vault and click the “Receive” icon on the user dashboard.

Step 2: Select the wallet address to which you wish to add tokens

Step 3: Copy this wallet address or its QR code and forward either to the person sending you tokens.

Step 4: Wait for the funds to reflect in your JWallet

How to send crypto from JWallet wallet:

Step 1: Log in to your JWallet app, and on the user dashboard, click “Send.”

Step 2: Select the wallet address from which you wish to draw funds

Step 3: If you have multiple tokens store in here, select the currency you wish to send

Step 4: Enter the recipient’s address and amount to send on the ensuing transfer window.

Step 5: Confirm the details of this transaction before hitting send

JWallet ease of use:

Activating the JWallet app or the JWallet web wallet and creating a user account takes less than five minutes. Interacting with most of the JWallet features and services is quite straightforward. The processes of sending and receiving crypto into your JWallet is also easy and straightforward.

More importantly, both the wallet app and web wallet are multilingual and available in both English and Korean languages.

JWallet supported currencies:

JWallet is a multi-coin wallet that supports 1000+ crypto tokens and collectibles. These include ERC-20 tokens, custom wallets, stable coins like J Stable coin, and other Eth-based crypto tokens.

JWallet cost and fees:

Jwallet is a fee-free wallet. You will not be charged for downloading and installing the app, and neither will you be charged for transfers within the Ethereum network.

JWallet customer support:

JWallet maintains a highly responsive customer support team. Both the web wallet and crypto wallet app maintain elaborate FAQ sections that address most user concerns, how-to guides, and troubleshooting guides.

For personalized queries, you can contact the wallet’s customer support team by raising a support ticket on the Jibrel network website or by direct messaging them on such social media platforms as Telegram, Twitter, Kakaotalk, Reddit, and Bitcointalk.

What are the pros and cons of using JWallet?

Pros:

  • It is a fee-free Ethereum wallet.
  • JWallet maintains one of the easiest set and account activation guides.
  • It has a highly responsive customer support team.
  • It is feature-rich and hosts such highly advanced crypto security guides as the proprietary JCash

Cons:

  • It is a hot wallet that’s prone to online threats like phishing attacks.
  • Jwallet will only support eth-based cryptos and tokens.

Comparing JWallet with other Ethereum wallets

JWallet vs. MyEtherwallet

Jwallet and Myetherwallet are bothEthereum-specific crypto wallets. They both are easy to use and host numerous eth-based crypto tokens. Both integrate DeFi apps and protocols that allow their users to earn interest on digital assets and integrate the address book that allows the wallet user to send funds to a username and not necessarily a wallet address.

But while Jwallet will only support Eth-based tokens, Myetherwallet is more versatile and hosts such popular non-Ethereum cryptos as Bitcoins. Similarly, MyEtherwallet hosts an even larger set of features that include integrating third party exchanges like Changelly and Shapeshift that have simpler fiat-to-crypto conversion processes and even allow you to purchase crypto with a card. We nevertheless like Jwallet’s revolutionary stable tokens.

Verdict: Is JWallet safe?

Well, Jwallet has put in place several effective security and privacy measures for both the wallet app and web wallet. Some of these include securing your wallet with a password and fingerprint, client-side encryption tool for the wallet communications with third parties systems, it is non-custodial, and also provides you with a backup and recovery seed. The only downside to this is that both the web wallet and mobile apps are hot wallets and that you need to pass the KYC and AML requirements before using their J Cash feature.

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Crypto Daily Topic Cryptocurrencies

StakedWallet Review: Is Stakedwallet Legit Or Another Ponzi Scheme?

Stakedwallet is a DeFi-focused crypto project that provides you with a platform where you can securely store your digital assets and earn guaranteed interest. It is a highly innovative cryptocurrency wallet that integrates several operational and security features. And they all are aimed at ensuring the wallet is highly secure and easy to use. It works by providing wallet users with an opportunity to stake their cryptocurrencies and earn a fixed daily interest. The interest is deposited to your account daily, and the percentage earning for your staked assets is largely dependent on how long you have kept your funds on the platform.

Stakedwallet is a DeFi-focused crypto project that provides you with a platform where you can securely store your digital assets and earn guaranteed interest. It is a highly innovative cryptocurrency wallet that integrates several operational and security features. And they all are aimed at ensuring the wallet is highly secure and easy to use. It works by providing wallet users with an opportunity to stake their cryptocurrencies and earn a fixed daily interest. The interest is deposited to your account daily, and the percentage earning for your staked assets is largely dependent on how long you have kept your funds on the platform.

Stakedwallet is a DeFi-focused crypto project that provides you with a platform where you can securely store your digital assets and earn guaranteed interest. It is a highly innovative cryptocurrency wallet that integrates several operational and security features. And they all are aimed at ensuring the wallet is highly secure and easy to use. It works by providing wallet users with an opportunity to stake their cryptocurrencies and earn a fixed daily interest. The interest is deposited to your account daily, and the percentage earning for your staked assets is largely dependent on how long you have kept your funds on the platform.

A debate that questions the legitimacy of Stakedwallet has emerged online, especially on Reddit. Some crypto community members are now advising caution when dealing with the wallet, while others call it out as an outright Ponzi scheme designed to swindle naive crypto-enthusiasts.

In this Stakedwallet review, we will be vetting this passive income-generating platform cum crypto wallet to determine if it indeed is a secure crypto vault or another Ponzi scheme. And to achieve this, we detail all its features, a step-by-step guide on activating and using the wallet, check its ease of use and supported currencies, and compare it to other crypto wallets.

StakedWallet key features:

Cross-platform: Stakedwallet is a cross-platform crypto vault available as both a mobile wallet and a web wallet. Both the web wallet and the website associated with Stakedwallet are, however, inaccessible at the moment.

Inbuilt exchange: Within the StakedWallet user dashboard is the exchange icon that gives you access to the platform’s crypto exchange. You can use it to convert one supported crypto to another at a fraction of the cost charged by most other third-party exchanges.

Stake and Earn: You get to earn by engaging in the proof of stake programs offered by most blockchains networks and protocols through Stakedwallet. You can also earn by completing the numerous tasks on the platform, like inviting your friends and acquaintances to join the platform through its referral program. And for every successful referral, you earn SWL Tokens that you can then convert to any of the supported cryptocurrencies on the inbuilt exchange.

Multi-blockchain: Staked wallet is unlike most DeFi-focused crypto wallets that will only support Ethereum based DeFi apps and protocols. It supports a wide range of altcoins drawn from different Blockchains, including Bitcoin.

Portfolio/Income tracker: Stakedwallet integrates the “My Statistics” tool that you can use to monitor your crypto portfolio and earning trends. It is an automated tool that displays your crypto balances in real-time, transaction history to help you understand inflows and outflows, and the earning trend for all your staked coins on a weekly, monthly, or annual basis.

StakedWallet security features:

Password: Like most other crypto storage vaults, Stakedwlalet is secured with a multi-character password that you set when activating the app or web wallet and creating a user account.

Multi-factor authentication: Stakedwallet employs a three-step authentication process that integrates 2FA and multi-signature functionalities for your outbound transfers. Here, every transfer out must be subjected to two-factor authentication and signed by both the app and the company servers.

Enterprise-grade encryption: According to Stakedwallet, both the crypto app and web wallet use a 256-bit enterprise-grade encryption cipher and 25,000 PBKDF2 hash rounds in encrypting your PIN and all other user data in the wallet. They boldly claim that it would take a modern computer a million days to bypass these tools and hack into your account.

Non-custodial: Stakedwallet doesn’t collect any of your personal data, especially the PIN code or private keys. These are highly encrypted and stored locally on your computer or mobile device.

Vulnerability monitoring: According to Stakedwallet’s development team, both the wallet app and web wallet are being constantly monitored for bugs and vulnerabilities around the clock. It is subjected to regular security audits by some of the leading crypto security firms in the world.

VPN Access: Unlike most other crypto storage wallets that don’t support VPN access, Stakedwallet sets no restrictions on logging into your account via a VPN.

How to activate/  setup the StakedWallet

Step 1: Start by downloading the Stakedwallet app compatible with your phone on the Google play store or Apple app store.

Step 2: Launch the app and click on the “Create a New Wallet” on the installation page.

Step 3: Enter your email address and create a unique password for the account.

Step 4: Read and agree to the wallet’s terms of use and user privacy

Step 5: Verify that you are not a robot, and you want to proceed with the registration by clicking the verification button and completing the puzzle.

Step 6: Your account is now active and ready for use

Step 7: Click on the three bars on the top-left corner of the wallet app to access the settings section that you can then use to personalize the wallet.

How to add/receive Crypto into Poketto Wallet:

Step 1: Log in to your Stakedwallet app

Step 2:  Click on the three bars on the top left corner of the app’s user dashboard to access the app menu.

Step 3: Click on the “Deposit” tab and click on the “Add Money” on the deposit page that pops up.

Step 4: The wallet will now present you with a QR code representing the wallet address

Step 5: wait for the funds to reflect.

How to send crypto from StakedWalletwallet:

Step 1: Log in to the Stakedwallet app

Step 2: On the user dashboard, click on the “Send” button

Step 3: Select the altcoin you want to send and enter the recipient wallet address

Step 4: Decide on the amount you wish to send

Step 5: Confirm that the transaction details are correct and hit send.

StakedWallet ease of use:

Stakedwallet has a clean and intuitive user interface. You will find navigating through the app and interacting with most of its features, like depositing and sending crypto coins in and out of the wallet, quite easy. It also has a rather straightforward wallet activation and user account registration process.

It is quite beginner-friendly, and you don’t need help in staking different coins or monitoring your portfolio. The portfolio and earnings tracking processes are rather straightforward.

StakedWallet supported currencies:

Stakedwallet currently supports a significant number of the leading cryptocurrencies and tokens. These include Bitcoin, Litecoin, Bitcoin Cash, Dogecoin, Ethereum, and Dash. Plus the wallet’s native token, SWL.

StakedWallet cost and fees:

Downloading the wallet app, creating a user account, and interacting with its features is free. You also get to earn 0.6% – 1.5% of the staked digital assets daily in addition to the bounty program earnings like inviting friends to join the wallet and other microtasks.

However, you will have to part with the blockchain network fees like GAS, charged when you send crypto in and out of your wallet to Stakewalet.

What are the pros and cons of using Stakedwallet?

Pros:

  • It presents wallet users with multiple streams of earning passive income.
  • It is a beginner-friendly wallet.
  • It supports some of the most popular crypto wallets.
  • It has highly advanced security measures around the website, web wallet, and wallet app.
  • It is a free wallet

Cons:

  • There have been a lot of negative reviews about the wallet.
  • One may consider the number of supported cryptos to be limited.
  • It has a poor and unresponsive customer support team.

Comparing StakedWallet with other multi-blockchain wallets

StakedWallet vs. DexWallet

Both Stakedwallet and Dexwallet help their users generate passive income from their digital assets. They, however, differ significantly in the income-generating strategy. While Stakedwallet earns you guaranteed interest via the proof of stake protocol, DexWallet integrates different DeFi apps to make you money by either staking or lending to other app users.

Stakedwallet, however, has a soiled reputation due to a lack of transparency on how they handle client funds and the effectiveness of this income-generating strategy.

Verdict: Is StakedWallet safe?

Staked wallet app has considerably effective and advanced security and privacy measures around the app and private keys. Questions are, however, abound concerning its legitimacy. Most reviewers on crypto discussion platforms like Reddit and Quora and user reviews on the app store pages have termed it a scam and a Ponzi scheme.

Twitter has even suspended the Stakedwallet account. And instead of addressing these allegations, the company has taken its website and web wallet offline. We recommend that our readers avoid the wallet until the company satisfactorily addresses all the allegations levels against their wallet.

Categories
Cryptocurrencies

 DexWallet Review: How Safe Is This Defi-Focused Wallet?

The DexWallet website describes this crypto vault as “the Mobile wallet for decentralized finance.” A platform where anyone can grow a passive income through borrowing, lending, exchanging, and staking cryptocurrencies and tokens.

DexWallet - Best DeFi wallet

The DexWallet website describes this crypto vault as “the Mobile wallet for decentralized finance.” A platform where anyone can grow a passive income through borrowing, lending, exchanging, and staking cryptocurrencies and tokens.

The DexWallet website describes this crypto vault as “the Mobile wallet for decentralized finance.” A platform where anyone can grow a passive income through borrowing, lending, exchanging, and staking cryptocurrencies and tokens.

Created and introduced to the crypto industry by DexLabs in 2018, Dexwallet is a multi-chain mobile wallet and a gateway for the decentralized economy specially designed to appeal to anyone regardless of their crypto experience. Over time, the wallet has incorporated several innovative operational and security measures to make it the most user-friendly, secure, and passive earning crypto project.

But how achievable is this vision? What steps has DexWallet made towards making it a reality? More importantly, is DexWallet safe?

We answer both these questions and tell you everything you need to know about the crypto wallet in this review. We look at the passive income and user-focused features, security measures in place, and tell you how to set up a DeXwallet and its pros and cons.

DexWallet key features

Earn interest on saved funds: DexWallet is a mobile wallet that lets you stake different cryptocurrencies or tokens and earn an annual interest. The wallet has also oversimplified this process and made it as easy as saving as operating an online savings account. Plus, it promises earnings as high as three times what is offered by the traditional bank.

Inbuilt exchange: The mobile wallet has an inbuilt exchange that allows you to exchange different eth-based cryptos. The fact that you don’t need to leave the wallet or send your Crypto to a third-party exchange and back not only speeds up the crypto swap process but also makes it relatively affordable.

Buy Crypto with card: You can also buy any of the cryptocurrencies and tokens supported by DexWallet using virtually any debit or credit card. This purchase is processed by MoonPay fiat-to-crypto exchange that’s integrated into the DexWallet.

Monitor crypto portfolio: The DexWallet lets you view and track your crypto portfolio in real-time via the balance and history tabs. And in instances where the transaction confirmation speeds on the blockchain are slow, it will outline all your pending transactions to help you avoid double-payments.

Integrate Defi apps: DexWallet describes itself as the wallet for Defi apps. It features all the popular Defi apps like Compound, Fulcrum, MakerDAO, and Uniswap. You also have the option of searching for and integrating similar apps from the Dapp browser. These are geared towards helping you stake/lend a portion of/entire portfolio and earn interest in return.

DexPay: You no longer have to go through the laborious process of converting your eth-based tokens to cash or other Crypto when paying for goods or services in Crypto friendly stores. Simply use DexPAY that has DAI as its bass currency but can convert any other token automatically when making a payment.

Import Eth wallets: DexWallet is a highly versatile crypto vault compatible with virtually all other eth-based wallets. This means that you can easily import your MyEtherWallet, MetaMask, and even Jaxx wallets to the DexWallet and view all these balances on a single unified platform.

DexWallet security features

Password + encryption: DexWallet is secured with a password that not only secures your private keys but also serves as the encryption tool.

Open source: DexWallet is built on an open-sourced blockchain technology. Wallet users and others, therefore, can view and audit its source code and seek out possible security loopholes or malicious lines of code.

Hierarchically deterministic: This implies that DexWallet auto-generates a new wallet address for every new transaction. This masks your real wallet address, effectively throwing off crypto trackers and third parties who might want to check your crypto activity and view and monitor your past or future crypto transactions.

Watch only mode: You have the option of activating the watch-only wallet mode that allows you to access your wallet over insecure internet connections. During a watch-only mode session, anyone with access to the wallet can view balances and accept incoming crypto coins but can’t access or alter your app settings, private keys, passphrase, or send Crypto.

Non-custodial: DexWallet does not store cryptos and tokens on behalf of its clients. Rather, it encrypts them and stores them in the root memory of your mobile phone.

Ethereum Name Service (ENS) supportive: DexWallet lets you choose a unique username that serves as your wallet address. This helps eliminate the common and often costly mistakes associated with getting your recipient’s wallet address wrong.

How to set and activate the DexWallet app

Step 1: Start by downloading and installing the DexWalet app from the Google play store, Apple App Store, or the official DexWallet website.

Step 2: Launch DexWallet and chose to “Create a New Wallet.”

Step 3: Create a new and unique username for the wallet.

Step 4: Create a wallet password

Step 5: Copy the mnemonic phrase provided by the wallet and keep it safe offline.

Step 6: Your wallet is now ready to use

How to add/receive Crypto into your DexWallet

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

Step 2: Copy your DexWallet public address or its QR code and forward either to the party sending you cryptos/tokens.

Alternatively:

Step 3: If you have several digital assets, click on the swap tab and exchange them for eth-based altcoins and tokens

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

How to send Crypto from your DexWallet:

Step 1: Log in to your DexWallet, and on the user dashboard, click “Send.”

Step 2: If you have multiple crypto assets stored therein, select the wallet from which you would like to send cryptos

Step 3: Enter the recipient’s username (for eth-network transfers) or their wallet address for (non-Ethereum network transfers)

Step 4: Enter the amount of altcoins/tokens you want to send

Step 5: Chose the transaction charge.

Step 6: Verify the accuracy of these transaction details and send

DexWallet ease of use

DexWallet is highly intuitive, and most of the integrated features easy to use. It maintains a highly decongested interface and has a smooth onboarding process. It has also simplified sending and receiving altcoins/tokens by introducing the Ethereum Name Service (ENS).

DexWallet is also multilingual and is currently available in four international languages – English, Chinese, Japanese, and Italian.

DexWallet supported currencies and countries

DexWallet is a multicurrency crypto mobile vault that currently supports 2000+ altcoins and tokens built on the Ethereum blockchain network, including Ethereum, Ethereum classic, and ERC-20, ERC-233, ERC-721 tokens.

DexWallet cost and fees

You will incur transaction charges or GAS – charged by the Ethereum network – whenever you send Crypto and tokens to other exchanges and wallets. GAS is, however, dynamic and gives you the option to choose the fee range depending on the urgency with which you want the transaction confirmed.

Pay low transaction fees for non-urgent transactions and the highest charges for the transactions you want to be confirmed instantaneously.

DexWallet customer support

DexWallet’s customer support is available online and ready to help 24/7. You can reach out to them by raising a support ticket on the wallet’s website, email, or direct messaging them on social networks such as Twitter, Telegram, or Discord.

What are the pros and cons of using DexWallet?

Pros:

  • The wallet provides you with a platform to keep your digital assets and earn interest while at it.
  • DexWallet embraces a user-focused and highly intuitive design.
  • It also supports a wide range of Ethereum blockchain-based altcoins and tokens.
  • The exchange embraces a dynamic fee structure.

Cons:

  • It will only support eth-based tokens.
  • DexWallet ignores such solid security measures as two-factor authentication and multi-signature signing.

Comparing DexWallet with other Eth-based wallets

DexWallet vs. MyEtherWallet

Both DexWallet and MyEthereumWallet are highly intuitive eth-based wallets that will only support altcoins and tokens built on the network. They have also made significant strides in making the crypto wallet as beginner-friendly as possible without compromising their security.

DexWallet, however, carries the day when it comes to the number of integrated features and security measures put in place. For instance, the mobile wallet supports 2000+ altcoins and tokens and features premium privacy features as a watch-only mode.

Verdict: Is DexWallet safe?

DexWallet has put in place some of the most sophisticated security and privacy measures around the mobile wallet. The most visible is the replacement of the complicated wallet address system with a memorable username. It does not require you to provide such personal information as name, phone, or address. Not to mention that it is open-sourced and hierarchically deterministic. The only downside to using DexWallet is that it is a hot wallet that doesn’t support two-factor authentication, exposing you to the risk of remote hacks.

Categories
Cryptocurrencies

HB wallet Review: Ease of Use, Security features, Fees, Pros and Cons

HB Wallet is a highly innovative crypto project, developed and introduced to the world in July 2017. The wallet is built on the ethereum blockchain technology and was created by Bacoor Inc. – a Malaysian-based technology company. According to the wallet’s official website, HB is more than a crypto vault. It is a crypto ecosystem that’s specially designed to provide Eth blockchain users with a platform where they can store their coins, interact with the blockchain, and earn tokens without compromising the safety of their private keys.

HB Wallet - Best Multicurrency wallet

HB Wallet is a highly innovative crypto project, developed and introduced to the world in July 2017. The wallet is built on the ethereum blockchain technology and was created by Bacoor Inc. – a Malaysian-based technology company. According to the wallet’s official website, HB is more than a crypto vault. It is a crypto ecosystem that’s specially designed to provide Eth blockchain users with a platform where they can store their coins, interact with the blockchain, and earn tokens without compromising the safety of their private keys.

HB Wallet is a highly innovative crypto project, developed and introduced to the world in July 2017. The wallet is built on the ethereum blockchain technology and was created by Bacoor Inc. – a Malaysian-based technology company. According to the wallet’s official website, HB is more than a crypto vault. It is a crypto ecosystem that’s specially designed to provide Eth blockchain users with a platform where they can store their coins, interact with the blockchain, and earn tokens without compromising the safety of their private keys.

To this end, HB wallet developers started by simplifying the technology and making it as intuitive as possible with the hope of kick-starting mass adoption.

In this review, we will be vetting HB Wallet to determine if it has lived to its word of providing an intuitive and secure platform. We will look at all its key security features, tell you how to set up and activate the HB Wallet account, its pros and cons, fees, and everything in between.

HB Wallet key features

Cross-platform: HB Wallet is available both as a desktop wallet app (Windows and macOS) and a mobile wallet app (Android and iOS). And unlike most other cross-platform wallets that operate as stand-alone vaults, HB Wallet allows you to sync the mobile and desktop wallet apps in real-time.

Multi-wallet: There is no limit to the number of user accounts or wallet addresses you can create on one HB Wallet app. The wallet especially simplifies the creation of multiple accounts by including the switch option in the settings tab that allows you to seamlessly hop from one account to another.

Buy with card: You can also purchase virtually any Crypto or token – including Bitcoin, Ethereum, and ERC-20 tokens – via a debit/credit card. To achieve this, HB Wallet partners with the fiat-to-crypto convertor and payment processing company – Simplex.

Swap crypto: HB Wallet integrates the Kyber network and crypto exchange, ensuring that you don’t have to leave the wallet to swap cryptos and tokens. Swapping coins via the network is instantaneous, inexpensive, and safer, largely because you do not have to move coins from your wallet.

Inbuilt exchange: In addition to the integrated third party exchanges, HB Wallet features the eth-based HB Decentralized Exchange. This allows HB wallet users to exchange eth-based cryptos and tokens seamlessly and securely without leaving the wallet. And they only have to pay the GAS fees charged by the Ethereum blockchain network.

Integrates DAPP Browser: HB Wallet integrates a DAPP browser that allows the wallet users to browse the internet and interact with an unlimited number of decentralized apps including games and Defi apps. And when using this integrated wallet, you are assured of your privacy and anonymity, and the browser doesn’t have any third-party plugins or tracking tools.

Grab Token: The Grab Token feature on the HB wallet makes it possible for anyone to get token rewards from Airdrops and Gacha Drops. You do not even need to sign up for either and the drops are free and no-obligation rewards. Airdrops allow you to receive free ERC-20 tokens to your HB wallet while Gacha drop is a game where players have a chance to win ERC-721 token rewards daily.

Send Crypto via chat: The wallet has also come up with a highly innovative chatting tool that allows you to send text, images, emoji, and even cryptocurrencies/tokens to other HB Wallet users.

HB Wallet security features

PIN + Touch ID: When creating a user account on the HB wallet, you get to secure it with a password. Moreover, you have the option of boosting this security feature by enabling the Touch ID login option for compatible devices.

Hierarchically deterministic: In an attempt to safeguard your privacy, the HB wallet generates a new address for every transaction, effectively shielding your actual address and making it hard for third parties to track your crypto activity.

Anonymous user registration: HB Wallet will not ask for any private information when creating a user account. Neither will it or the integrated systems – including the browser and exchange – collect and store sensitive client data. Moreover, you don’t even have to download the wallet app from the Google Play or Apple App stores that can tie the app activity to your profile, simply download the wallet APK from the HB Wallet website.

Recovery seed: When creating a user account on HB Wallet, you will be presented with a mnemonic phrase that forms the wallet’s recovery seed. You will need it to restore the account on a new device or recover lost private keys.

Non-custodial: HB is a non-custodial wallet that, instead of storing your private keys on its servers, encrypts them and all your private information like passphrase and saves it in your phone/computer. This gives you absolute control over the use and management of your digital assets.

How to set and activate the HB wallet app:

Step 1: Open the HB Wallet website and under the ‘Download’ tab, select the type of wallet you wish to use (desktop or mobile)

Step 2: Download and install the app

Step 3: Launch the wallet and click on the ‘Create New Wallet’ icon.

Step4: Choose a username and create a wallet password

Step 5: Copy the seed phrase and keep it safe offline.

Step 6: Your wallet is now active and ready for use

How to add/receive Crypto into your HB wallet

Step 1: On the HB Wallet user dashboard, click on the “Receive” button

Step 2: Copy your HB Wallet address or the QR code and forward them to the individual sending you coins.

Alternatively:

Step 1: Click on the “Buy Crypto” tab.

Step 2: Follow the prompts to fund the wallet by either buying crypto with a card via Simplex or swapping your digital assets with Eth tokens via the HB Wallet DEX.

Step 3: Wait for the Crypto to reflect on your wallet.

How to send Crypto from your HB wallet

Step 1: On the HB wallet’s user dashboard, click on the “Send” button

Step 2: On the transfer window that pops up, enter the recipient’s wallet address and the number of coins you wish to send (note that the desktop wallet allows you to create an address book from whence you can select coin recipients)

Step 3: Check the accuracy of these transaction details and hit send

HB wallet ease of use

HB Wallet has a seamless and smooth user interface that is specially designed to appeal to both beginner and expert crypto traders. It is highly customizable and allows you to tweak most of its features using the settings option.

For instance, you can choose how you access wallet notifications by turning them on/off, change wallet theme, and hide or delete one account or a wallet address.

The wallet is also multilingual – available in eight international languages.

HB Wallet supported currencies and countries.

HB Wallet is a multicurrency wallet that supports 500+ eth-based cryptocurrencies and tokens like ERC-20, ERC-223, and ERC-721tokens.

HB Wallet cost and fees

While HB Wallet won’t charge you for storing your coins therein, you will be charged transaction fees – GAS – every time you send or exchange these cryptos and tokens. The fee is collected by the ethereum network and not HB Wallet.

HB wallet customer support

HB Wallet maintains a highly responsive customer support team available 24/7 via email, live chat on both the website and wallet apps, as well as social media platforms like Twitter and telegram. You can also raise a support ticket on the website or consult their FAQs page for troubleshooting tips.

What are the pros and cons of using the HB Wallet?

Pros:

  • HB Wallet is highly innovative and features such effective tools as sending Crypto via the chat button
  • It allows you to synchronize the desktop and mobile wallet activities in real-time
  • The wallet is also highly customizable, allowing you to change the language, notification settings, and even reset wallets/user accounts
  • It encourages anonymous user registration and crypto trading

Cons:

  • HB Wallet is an online-based crypto vault
  • It is biased towards ethereum blockchain and eth-based cryptos
  • It is not open-sourced

Comparing HB wallet with other Ethereum wallets

HB wallet vs. MyEtherWallet

HB and MyEther are both Ethereum based wallets that share such similar traits as maintaining a highly intuitive user interface and supporting a wide range of Ethereum cryptos and tokens. They have also embraced almost similar security measures. More importantly, they appeal to both beginner and expert ethereum blockchain users and have highly responsive customer support teams.

HB Wallet nonetheless carries the day when it comes to innovativeness and the number and effectiveness of integrated wallets. HB Wallet, for instance, features a decentralized exchange and two third-party crypto swap systems, makes it possible to send cryptos via the chat button, and allows users to reset or delete wallets/user accounts.

Verdict: Is the HB wallet safe?

Well, the HB Wallet has put in place several highly effective safety and privacy measures. For instance, you don’t need to provide personal details to create a user account here, the wallet is hierarchically deterministic, non-custodial, and provides users with a recovery seed. We only find fault with the fact that it doesn’t support some of the more solid security features like enabling two-factor authentication, transaction limits, and multi-signature functionalities.