Tag: Best ethereum based crypto 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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Cryptocurrencies

Luno Wallet Review: Here Is Everything You Need To Know About The Multi-Asset Wallet?

Luno Wallet is a fast-growing crypto storage vault created by Timothy Stranex, an ex-Google engineer. The wallet seeks to provide its users with a balance between security and ease of use. It is the official crypto wallet for the Luno crypto exchange that started in 2013 as BitX before rebranding to Luno in 2016. Both the Luno exchange wallet and exchange are headquartered in London but maintain satellite offices in South Africa and Singapore.

Luno Wallet is a fast-growing crypto storage vault created by Timothy Stranex, an ex-Google engineer. The wallet seeks to provide its users with a balance between security and ease of use. It is the official crypto wallet for the Luno crypto exchange that started in 2013 as BitX before rebranding to Luno in 2016. Both the Luno exchange wallet and exchange are headquartered in London but maintain satellite offices in South Africa and Singapore.

Luno Wallet is a fast-growing crypto storage vault created by Timothy Stranex, an ex-Google engineer. The wallet seeks to provide its users with a balance between security and ease of use. It is the official crypto wallet for the Luno crypto exchange that started in 2013 as BitX before rebranding to Luno in 2016. Both the Luno exchange wallet and exchange are headquartered in London but maintain satellite offices in South Africa and Singapore.

Luno started as a Bitcoin-only wallet. Over time, however, it has incorporated Ethereum and Bitcoin Cash cryptocurrencies as well as a few more Fiat currencies like the Indian Rupee, Nigerian Naira, and the European Pound.

In this Luno wallet review, we want to ascertain if Luno is indeed safe and easy to use as advertised. We will be looking at the security and operational features put in place by the company while providing you with a step-by-step guide on how to activate and use the wallet.

Luno Wallet key features:

Cross-platform: Luno is a cross-platform crypto wallet available for iOS and Android devices and a web wallet.

Inbuilt exchange: Luno integrates a built-in crypto exchange to buy, sell, and exchange different cryptocurrencies. It is fully-fledged and fitted with basic and advanced crypto investing tools like the real-time order book and risk management tools such as Limit and stop-limit orders.

Buy crypto with fiat: Luno wallets makes it possible for users to buy crypto with fiat via debit/credit cards, direct wire transfers, or e-wallets like PayStack.

Portfolio trackers: On the Luno wallet user interface is the crypto history and balance tabs that let you monitor your crypto transactions and portfolio values in real-time. And in addition to the two is the chart that shows you the price performance of each of the supported cryptocurrencies and value changes per day, week, month, and year. You are also free to set automated price alerts for this crypto.

Block explorer: The wallet also integrates a blockchain explorer that users rely on to get crypto news and events and expert analysis on how either is expected to disrupt the crypto industry.

Trading insights and market reports: Luno has partnered with a crypto-focused Intelligence Company – IntoTheBlock – and launched a series of premium indicators and market analysis tools that they believe will be instrumental in helping users make informed crypto trading decisions. This is then complimented with the Daily Market Update blog that analyses and predicts the price performance of featured cryptos.

Savings wallet: Luno recently introduced the BTC Savings Wallet that earns you a 4% annual interest for saving your BTC in the account. There are no fixed terms, and you are free to withdraw either the profit or clear the wallet at any time.

Luno Wallet security features:

Password: Like any other cryptocurrency wallet, Luno is password secured. You get to set the password when creating a user account, and it doubles as the encryption tool.

Two factors authentication: When creating your Luno wallet user account, the wallet will ask for such personal information as your email and phone number. You will need either of these or the Google Authenticator tool to activate two-factor authentication.

Non-custodial: Luno wallet doesn’t store the private keys for the digital assets on your behalf. Rather, it encrypts them and stores them within your device, giving you absolute control over their use.

Monitor active devices: In the settings section of your Luno wallet’s user interface, you will see all the devices currently connected to your wallet in real-time. You can use this tab to log out, block, or disassociate the wallet from certain devices.

How to activate/setup the Luno Wallet

Step 1: Download the Luno wallet app from either the wallet website, Google Play Store or Apple App Store

Step 2: After launching the app, click the “Create a new wallet” tab

Step 3: Fill the registration form by entering your email, creating a unique wallet password, and selecting your country of residence

Step 4: Confirm that you are not a robot via the reCAPTCHA button that also doubles as agreeing to the wallet’s terms of use and privacy policy.

Step 5: Verify your identity by furnishing the Luno Wallet team with a copy of your ID and proof of address

Step 6: You will receive a confirmation email informing you that your account is now active and ready to use

Step 7: Log in to your Luno wallet and use the settings button to personalize the vault by activating two-factor authentication and depositing cryptos.

How to add/receive Crypto into Luno Wallet:

Step 1: Log in to your Luno wallet account and tap the “Buy” or “Receive” tabs, depending on how you want to fund your account.

Step 2: If you chose to buy, you will be redirected to the crypto purchasing page that requires you to enter the amount of USD you would like to deposit, select the preferred payment method, and initiate the purchase

Step 3: If you choose to receive crypto, the Luno wallet will display your address and QR code that you can send to the individual sending you coins or have them scan your QR code

How to send crypto from Luno Wallet:

Step 1: Log in to your Luno wallet, and on the user dashboard, tap “send.”

Step 2: If you have multiple wallets, select the wallet from whence to draw crypto

Step 3: Select the crypto you wish to send

Step 4: Enter the crypto recipient’s wallet address and the amount you would like to send

Step 5: Confirm the transaction details and hit send.

Luno Wallet ease of use and customer support

Luno wallet embraces a minimalistic user interface design that is easy to interact with for both crypto-investing veterans and beginners. The Luno development team also maintained a regularly updated blog and a learning portal that you can use to better understand how the site works. You will even find some how-to and troubleshooting guides in here. Plus, both the wallet and website are multilingual – available in English, Italian, Indonesian, and French.

Technical queries can be forwarded to Luno Wallet’s customer support team via the website’s help center page or by direct messaging them on Facebook, Twitter, and Instagram.

Luno Wallet supported currencies:

Luno Wallet currently supports 5 cryptocurrencies; Bitcoin, Bitcoin Cash, Litecoin, Ripple, and Ethereum.

Wallet services are available in 50+ countries across Africa, Asia, and Europe.

Luno Wallet cost and fees:

Downloading Luno Wallet and creating a user account here is free. You will, however, need to factor in the transaction fee charged on crypto transfers in and out of your Luno wallet. Bank and debit card transfers attract an average 1.58% fee, while credit cards attract a 5% deposit fee. Withdrawals and outbound transfer fees are highly variable and are largely dependent on the type of currency preferred and the amounts involved.

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

Pros:

  • It is highly versatile and accepts multiple funding options (both Fiat and crypto)
  • Luno wallet is hosted on an advanced and feature-rich trading platform.
  • It integrates effective security features.
  • Luno wallet’s transaction fees are quite competitive.

Cons:

  • It has a complicated fee structure.
  • It will only host a limited number of cryptocurrencies.

Comparing and contrasting Luno Wallet with other Multi-Asset wallets:

Luno Wallet vs. eToro wallet

The primary similarity between Luno Wallet and eToro is that both are offshoots of online trading multi-asset trading platforms. They also maintain highly advanced and feature-rich yet beginner-friendly user interfaces. More importantly, they both support the purchase of crypto with fiat while charging competitive rates.

But while the eToro wallet supports 15+ cryptocurrencies and a host of fiat currencies, Luno Wallet will only support five cryptocurrencies. Additionally, eToro hosts such advanced trading/investment tools as copy trader, auto-trader, and demo accounts. Nevertheless, we appreciate Luno’s wallet commitment to reach out to crypto enthusiasts in developing countries, who have been neglected by the larger crypto exchanges and wallets for the longest time.

Verdict: Is Luno Wallet safe?

Key security and privacy measures that Luno Wallet has embraced in safeguarding your crypto wallets’ integrity include activating two-factor authentication and blocking IP addresses. It also secures the wallet with a password, encrypts user’s data, and gives you absolute control over your digital assets. It can thus be said to have met the unofficial industry standard for wallet apps and web wallets. However, the fact that it is a hot wallet means that the wallet is constantly exposed to the inherent threats facing online crypto wallets like phishing attacks.

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.  

Categories
Cryptocurrencies

MyCrypto Wallet Review: Is MyCrypto The Most Secure Eth-Based Wallet?

In early 2018, Tyler Monahan – a co-founder of MyEtherWallet – was not pleased with how the wallet was managed. She reacted by changing MEW’s twitter handle to MyCrypto wallet before apologizing for the act and leaving the company to start MyCrypto wallet. Tyler forked off the open-sourced MEW code and used it to create […]

In early 2018, Tyler Monahan – a co-founder of MyEtherWallet – was not pleased with how the wallet was managed. She reacted by changing MEW’s twitter handle to MyCrypto wallet before apologizing for the act and leaving the company to start MyCrypto wallet. Tyler forked off the open-sourced MEW code and used it to create […]

In early 2018, Tyler Monahan – a co-founder of MyEtherWallet – was not pleased with how the wallet was managed. She reacted by changing MEW’s twitter handle to MyCrypto wallet before apologizing for the act and leaving the company to start MyCrypto wallet. Tyler forked off the open-sourced MEW code and used it to create the MyCrypto Wallet, launched in May 2018.

And since it forked off MEW, MyCrypto not only serves as MEW’s greatest competition but has also integrated most of its features. It is open-sourced, allows for easy interaction with the Ethreum blockchain, integrates hardware wallets, and is a client-side tool.

This review will detail these features and tell you if MyCrypto is indeed the safest wallet for storing your Ethereum. We also provide you with a step-by-step guide on how to activate and use MyCrypto wallet and compare its effectiveness with that of its fiercest competitor – MyEtherWalet.

MyCrypto key features:

Cross-platform wallet: MyCrypto wallet is available as a web wallet as well as a desktop app. The app is highly versatile and compatible with virtually all the popular computer operating systems, including Windows, Linux, macOS, Linux, and a Stand-Alone app.

Multi-currency: MyCrypto is a multi-currency wallet that supports a wide range of Eth-based cryptocurrencies and tokens. Moreover, there is no limit to the number of wallet addresses you can create on MyCrypto.

Inbuilt exchange: MyCrypto doesn’t have a proprietary crypto exchange infused into the desktop app. The platform has, however, integrated the Shapeshift exchange that allows users to purchase crypto using Fiat as well a Coinbase Buy Widget where wallet users can exchange cryptos and tokens.

Integrates hardware wallet: You can integrate the MyCrypto wallet app with the more secure hardware wallets like Trezor and Ledger and get to enjoy such additional services as additional coins and wallets.

Track portfolio: The desktop wallet app features a tracking tool for your portfolio that you can use to monitor your crypto inflows, outflows, and available balances in real-time. The tool is versatile and can be tweaked to monitor a single cryptocurrency/token or the entire portfolio.

Integrates MyCrypto debit card: MyCrypto wallet developers recently launched the MyCrypto debit card that allows users to spend their crypto balances in stores and download cash from ATM. The card works at both crypto-friendly and regular stores/ATMs as it auto-converts your funds from crypto to fist currency at the best conversion rate.

Security features:

Password: Your MyCrypto wallet is secured with a password (minimum 8 characters) that you set when setting up the wallet and creating a user account.

Wallet backup and recovery: There are three primary ways of backing up a MyCrypto wallet. First, you will be provided with a recovery seed phrase when creating a user account on either the Web or desktop app wallet. Secondly, you can back up your private keys by moving them to the integrated hardware wallet. Thirdly, you can write the sensitive wallet data (wallet address, private keys, and Keystore files) on a piece of paper and save it offline.

Non-custodial: MyCrypto wallet does not store your information on the company servers. Rather, this data is highly encrypted and stored within your device.

Counter-Phishing feature: A common tactic that is increasingly used by crypto hackers today is creating phishing sites that resemble the actual crypto wallet website. MyCrypto understands this and has since placed a link within the website that you can use to know if you are on the legit MyCrypto Wallet website.

How to set up and activate MyCrypto wallet:

Step 1:  Start by downloading the MyCrypto wallet desktop app from the developer’s official website or GitHub.

Step 2: Install and launch the app, and since you are using the app for the first time, chose to create a new wallet.

Step 3: Click on the “Generate a New Wallet” icon.

Step 4: Chose a backup and recovery option for the wallet. It can be either a mnemonic phrase or a Keystore file. If you decide to back it up with Key Store files, save the private key and paper keys offline, and if you choose a mnemonic phrase, write it down and save it offline.

Step 5: The wallet will now present you with a list of public wallet addresses. Choose your preferred address.

Step 6: The MyCrypto wallet is now active and ready for use

How to add/receive crypto to the wallet:

Step 1: Log in to your MyCrypto wallet and tap on the “Receive” icon on the user dashboard

Step 2: Copy the wallet address displayed and forward it to the party sending you eth-based coins

Alternatively:

Step 3: Click on the Buy tab and choose Changelley if you wish to convert your crypto or Fiat currency into eth-based coins/tokens and load them to MyCrypto.

Step 4: Choose Coinbase if you wish to buy from Coinbase.

Step 5: Follow the prompts to create a user account on either crypto exchange and proceed to make your purchase.

How to send cryptos from the wallet:

Step 1: Log in to your MyCrypto wallet and click on the “Send” icon.

Step 2: On the transfer window, enter the recipient’s wallet address and the number of coins you want them to receive

Step 3:  Confirm that these details are correct.

Step 4: Send

MyCrypto wallet ease of use

MyCrypto is a multi-lingual wallet that’s available in over 20 international languages. It also features a straightforward onboarding process and equally easy crypto sending and purchasing process. You don’t even need to leave MyCrypto Wallet to make a purchase. Just follow the links to Shapeshift for crypto/fiat currency swaps or use the Coinbase Buy Widget.

Supported currencies and countries

MyCrypto, like its Fork, is a multi-currency eth-based wallet that supports Ethetreum, Ethereum Classic, and such eth-based altcoins as the ERC 20 tokens.

Though its parent company has its headquarters in Australia, MyCrypto wallet is currently available in 12 countries.

Wallet cost and fees:

MyCrypto wallet is free to download and use. Fiat deposits and withdrawals are also free, and you won’t be charged MyCrypto card transactions at the point of sale or ATM withdrawal.

Both crypto and token outbound transactions will, however, attract network fees (GAS). These charges are dynamic whereby a higher transaction charge attracts faster transaction fees while reduced fees translate to slower transaction speeds.

Wallet customer support:

MyCrypto wallet maintains an elaborate Help and Support page that outlines different how-to guides, troubleshooting manuals, and general wallet information for both developers and users.

You can also email their support team, raise a support ticket using the contact us button, or direct-message them on social media.

What are the pros and cons of using MyCrypto wallet:

Pros:

  • It has embraced several effective security measures, including anti-phishing tactics.
  • It allows for both fiat-to-crypto and crypt-to-crypto exchanges.
  • It’s a free wallet and allows for free Fiat deposits and ATM withdrawals.
  • MyCrypto has a highly responsive customer support team.

Cons:

  • It will only support a limited range of Ethereum based altcoins and tokens.
  • One might consider the transaction charges higher than on most other wallets.

Comparing MyCrypto wallet with other Ethereum based wallets

MyCrypto vs. MyEtherWallet

MyCrypto was forked off MyEther wallet’s source code. But this is not the only similarity between these two crypto wallets. They both are also eth-specific wallets designed to support coins and tokens built on the Ethereum blockchain. They also share several operational and security features, including integrating hardware wallets and third party exchanges, support for multiple backup options.

MyCrypto wallet, however, takes securing the wallet a notch higher by not only subjecting its users to KYC and AML procedures but also helping them detect and avoid falling prey to phishing attempts.

Verdict: Is MyCrypto wallet safe?

MyCrypto wallet has put in place highly effective measures to help you maintain control over your digital assets. It starts with securing your wallet with a password, providing you with multiple wallet backup and recovery options, and setting up strategies that help you identify and avoid phishing scams. These, plus the fact that you can integrate the wallet with hardware and software wallets, makes MyCrypto a relatively safe eth wallet.  

Categories
Cryptocurrencies

MetaMask Wallet Review 2020: The Most Comprehensive MetaMask review

MetaMask is a web-based cryptocurrency wallet built on the Ethereum blockchain. The MetaMask website refers to it as a ‘crypto wallet & gateway to blockchain apps’ given that it provides users with an online storage vault as well as an interface to the Ethereum blockchain. However, unlike similar Eth blockchain gateways that require you to download the entire client node to your desktop, MetaMask is relatively lighter. It is a browser extension and does not need you to download the node or app.

MetaMask is a web-based cryptocurrency wallet built on the Ethereum blockchain. The MetaMask website refers to it as a ‘crypto wallet & gateway to blockchain apps’ given that it provides users with an online storage vault as well as an interface to the Ethereum blockchain. However, unlike similar Eth blockchain gateways that require you to download the entire client node to your desktop, MetaMask is relatively lighter. It is a browser extension and does not need you to download the node or app.

MetaMask is a web-based cryptocurrency wallet built on the Ethereum blockchain. The MetaMask website refers to it as a ‘crypto wallet & gateway to blockchain apps’ given that it provides users with an online storage vault as well as an interface to the Ethereum blockchain. However, unlike similar Eth blockchain gateways that require you to download the entire client node to your desktop, MetaMask is relatively lighter. It is a browser extension and does not need you to download the node or app.

The wallet was created by Aaron Davis and Dan Finlay and launched in 2016. Over the years, its development team has expanded, and so has its scope of use. What started as an online wallet has now morphed into a fully-fledged Ethereum platform. Now you can store your coins, trade, and interact with virtually every aspect of the Ethreum blockchain.

But has this expanded role compromised the wallet’s safety or efficiency? What are the MetaMask wallet’s critical operational and security features? We answer all these questions and tell you about everything you need to know about MetaMask web wallet in this review.

MetaMask wallet key features:

Browser compatibility: You can access your MetaMask web wallet using all the popular browsers. It is compatible with Opera, Firefox, Brave, and Chrome browsers.

Integrated exchanges: Though MetaMask doesn’t have a proprietary trading platform, it integrates Shapeshift and Coinbase exchanges. You no longer have to leave the wallet to purchase eth-based crypto and tokens or convert your fiat to digital coins. Simply click on Shapeshift or Coinbase exchange and start trading.

Intuitive design: MetaMask wallet adopts a modern design that provides a clean and easy-to-navigate dashboard that makes it friendly to both expert and beginner traders.

Ethereum based wallet: MetaMask wallet is built on the Ethereum blockchain. It, in effect, will only support Ethereum based cryptocurrencies and tokens.

Ethereum community: In addition to giving you access to the Ethereum blockchain and decentralized apps, MetaMask introduces you to the Ethetreum community. Here you get to interact with both Ethereum dAPPs developers and peers.

Security features:

Non-custodial: MetaMask wallet doesn’t store your private keys on the company servers. Rather, they are encrypted and stored within your device, which gives you absolute control over your keys.

Open sourced: MetaMask wallet is also built on an open-sourced technology. Any Ethereum blockchain developer and internet security experts can view and audit the wallet’s source code. It has been vetted to ensure that it is transparent and that it doesn’t contain any loopholes or malicious code.

Hierarchically deterministic: MetaMask is also a hierarchically deterministic wallet. It automatically generates new wallet addresses for new transactions, effectively keeping your wallets address private by making it impossible to track your online activity.

Recovery seed: The wallet is secured with a password. It also provides you with a recovery seed that you can use to reset this password and recover a lost wallet or private keys.

MetaMask mobile apps: Originally introduced as a pure web wallet, MetaMask recently launched its associated mobile wallet app. If you already have a web wallet, you can easily synchronize it with the wallet app. The synchronization also makes it possible to move coins from the web to the mobile app MetaMask wallet.

How to set up MetaMask wallet

Step 1: On the MetaMask official website, click on download and select the browser version extension you would like to use (Chrome, Brave, or Firefox)

Step 2: Once downloaded, the MetaMask icon will appear on your browser

Step 3: Click on the icon to the MetaMask browser extension

Step 4: Click on ‘Create New Vault’ and proceed to set a strong multi-character password for the wallet

Step 5: The wallet will provide you with 12 random phrases that form your recovery seed, write them down and keep them safe

Step 6: Acknowledge that you have copied the seed and kept safe.

Step7: Your browser extension app is now active and ready for use

How to add/receive crypto into MetaMask wallet

Step 1: Log in to your MetaMask wallet and click ‘Buy’ on the user dashboard.

Step 2: Select the exchange from which you wish to buy crypto – either Shapeshift or Coinbase.

Step 3: Proceed to make a purchase.

Alternatively:

Step 1: Log in to your wallet and click on the three dots on the far right of the user dashboard

Step 2: Click on either ‘Show QR Code’ (if using the MetaMask app) or ‘Copy Address to Clipboard’ icons to reveal your wallet address and its associated QR code.

Step 3: Send either of these to the party sending you the Ethereum digital currencies and tokens

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

How to send crypto from MetaMask wallet

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

Step 2: Enter the recipient’s wallet address and the amount of crypto you wish to send

Step 3: Chose the transaction fee.

Step 4: Check that the transaction details are correct and send

MetaMask wallet ease of use

One of the MetaMask wallet’s greatest strengths is its ease of use. The wallet installation and activation processes are straightforward, and so are the different crypto transaction processes. The wallet also features a clean and easy to navigate user dashboard. It is very user friendly and appeals to both expert and beginner crypto traders.

MetaMask wallet supported currencies

The fact that MetaMask is built on the Ethereum blockchain means that it only supports eth-based cryptos and tokens. These include Ethereum, Ethereum Classic, and ERC-20 tokens.

MetaMask wallet cost and fees

The MetaMask crypto wallet is free to download and use. Crypto transactions, however, attract a network fee – Gas – that goes to the Ethereum network and not MetaMask.

Recently, MetaMask introduced the dynamic transaction-fee pricing model. This lets you control how much you spend on crypto transaction fees where higher fees translate to faster transaction processing and vice versa.

When buying crypto on the integrated third party exchanges, Coinbase and ShapeShift, you will also have to part with transaction fees. These are highly variable and largely dependent on the transaction amounts and type of altcoin involved.

MetaMask wallet customer support

Access to MetaMask wallet’s support starts with the elaborate FAQs section on their website. Here, they detail solutions to common challenges facing MetaMask Wallet users.

Additionally, the MetaMask website, web wallet, and mobile apps are multi-lingual and currently available in over 18 languages. Its developers are also quite vocal on the Ethereum network forums and their respective social media pages. Send them a direct message or them an email [email protected], for more sensitive wallet issues.

What are the pros and cons of MetaMask wallet

Pros:

  • MetaMask is highly Versatile and available as a web extension or mobile app.
  • The wallet is open-sourced and also embraces several other security features, including a recovery seed.
  • MetaMask has a smooth and straightforward onboarding process.
  • The eth-specific wallet integrates crypto exchanges that support fiat to crypto conversions.
  • The wallet will also grant you aces to Ethereum based apps and community where you can interact with developers and other Ethereum-based product users.
  • MetaMask wallet has a highly responsive customer support.

Cons:

  • It is an online wallet and thus exposed to inherent risks associated with a hot wallet.
  • It doesn’t have an inbuilt exchange and relies on third party forums that may charge exorbitantly.
  • The wallet will only support Ethereum cryptos and tokens.

Verdict? Is the MetaMask wallet safe?

Well, MetaMask wallet has put in place several security measures that are geared towards making it the safest web wallet around. These include open-sourcing its technology, encrypting user data with a password, and providing a recovery seed. Plus, it doesn’t collect any user data. We, nevertheless, observed several shortcomings that infringe on the wallet’s security claim. For instance, it is a hot wallet that stores your private keys on your device, exposing them to hacks and malicious malware. Additionally, while the wallet does not collect user data, there is no guarantee that the associated browsers, especially Chrome, and Firefox will not track and keep records of your online activity.