Tag: Wallet

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Cryptocurrencies

Gnosis Safe Smart Wallet Review: Is Gnosis The Most Secure Smart Contract Wallet?

Gnosis safe is a cryptocurrency wallet specially designed for the Ethereum network to host eth-based cryptos and tokens. The wallet was developed by GNOSIS – an internet technology company in Gibraltar – and is among the first smart contract-based mobile apps. It is available as both a desktop/mobile app as well as a browser extension. This, according to its developers, doesn’t just ensure that the wallet is safer but also gives it the capability to handle a wider range of functions not offered by the traditional blockchain wallets.

Gnosis safe is a cryptocurrency wallet specially designed for the Ethereum network to host eth-based cryptos and tokens. The wallet was developed by GNOSIS – an internet technology company in Gibraltar – and is among the first smart contract-based mobile apps. It is available as both a desktop/mobile app as well as a browser extension. This, according to its developers, doesn’t just ensure that the wallet is safer but also gives it the capability to handle a wider range of functions not offered by the traditional blockchain wallets.

Gnosis safe is a cryptocurrency wallet specially designed for the Ethereum network to host eth-based cryptos and tokens. The wallet was developed by GNOSIS – an internet technology company in Gibraltar – and is among the first smart contract-based mobile apps. It is available as both a desktop/mobile app as well as a browser extension. This, according to its developers, doesn’t just ensure that the wallet is safer but also gives it the capability to handle a wider range of functions not offered by the traditional blockchain wallets.

The Gnosis safe website refers to the wallet app as “The most trusted platform to manage digital assets on Ethereum for companies/investors/developers/hodlers and DAOs.” It also refers to it as a “Safe Multisig mobile” wallet that helps users monitor their crypto portfolio on the go. It is further described as a transparency and security-focused eth-wallet that seeks to provide wallet users with a balance between safety and ease of use. In this Gnosis Safe smart wallet review, we look at everything you need to know about the eth-based crypto vault while helping you determine if it indeed is the most secure smart contract wallet.

Gnosis safe key features:

Cross-platform: Gnosis Safe is a cross-platform wallet. It is available as a mobile app (for both Android and iOS), desktop app (for both Windows, macOS, and Linux), and an in-browser extension. 

Multi-user: Gnosis Safe smart wallet is also a multi-user wallet that provides multiple safes within the wallet. They have separate login credentials and work best for family members, acquaintances, or companies that want to maintain all their crypto assets in one vault.

DeFi focused: Gnosis also integrates some of the most popular decentralized finance apps and protocols maintained on the Ethereum Network.

Address book: Gnosis wallet also features an address book that allows you to either integrate the wallet with your phone’s contact list or save the contact information such as the wallet addresses of individuals you engage regularly.

Integrate Dapps: The fact that Gnosis Safe Smart wallet is built on the Ethereum ecosystem makes it possible to explore the blockchain and interact with different Dapps maintained here.

Gnosis safe security features:

Password: Like most other wallets, Gnosis Safe Smart wallet is password-secured, and you get to set this unique key when creating a user account.

Two-factor authentication: You can always use the Gnosis Safe Authenticator or the Status Keycard to activate the wallet’s 2-factor authentication feature for all outbound transfers.

Recovery seed: During the wallet activation and account creation process, you will be presented with a backup/recovery seed for the wallet. Write it down and keep it safe offline.

Open source: Gnosis Safe Smart wallet is fully open-sourced and users, as well as crypto security experts, are free to view and audit source code for vulnerabilities. Gnosis Labs has also continuously run a bug bounty program for the wallet, and no critical bug or vulnerability has ever been discovered.

Multi-signature: Gnosis Safe Smart wallet is a multi-signature crypto vault. You can activate this feature for the entire wallet if you only run one safe or any number of safes hosted by the wallet.

How to activate/setup the Gnosis Safe Smart Wallet?

Step 1: Start by downloading the Gnosis Safe Smart wallet from either the website or the app store

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

Step 3: Read through and agree to the Gnosis privacy policy and terms of use

Step 4: Create a unique password for the Gnosis Safe wallet

Step 5: Proceed to create the first safe for the wallet. This requires you to deposit Eth or any of the supported tokens, and you will be charged a small fee (about 0.005 ETH) as the cost of deploying the wallet

Step 6: Confirm that you are ready to create a wallet on the pop-up window

Step 7: You will be required to download the web extension that serves as your wallet’s two-factor authenticator. It is also referred to as a Safe Authenticator.

Step 8: Install the browser extension app and upon launching, create a user password. This has to be different from the mobile app password.

Step 9: In the next window, click on the ‘Show QR Code’ icon and scan the QR code with your phone to connect the Safe Authenticator with Gnosis Safe Smart wallet

Step 10: Write down the recovery phrase provided and store it in a safe offline environment. Verify that you have copied it correctly.

Step 11: Pay the wallet deployment fees

Step 12: You will receive a notification via the in-browser app, informing you that the safe wallet has been successfully created and deployed.

Step 13: Your Gnosis Safe Smart wallet is now active and ready to use

How to add/ receive Crypto into Gnosis safe smart wallet:

Step 1: Log in to your Gnosis safe mobile app wallet and click on the ‘Receive” icon

Step 2:  If you have multiple safes created, select the safe into which you want to receive the crypto

Step 3:  Copy the wallet address or the QR code for the safe and forward it to parties ending you crypto

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

How to send crypto from Gnosis safe wallet:

Step 1: Log in to your Gnosis safe Mobile wallet app and click on the “Send” icon

Step 2: Select the safe from which you want to send crypto

Step 3: Select the digital asset you want to send

Step 4: Enter the recipient’s address and the number of coins you wish to send in the transfer window

Step 5: Check that the details of the transaction are correct and click the send button

Step 6: Log in to the Safe Authenticator (in-app browser) to review and authorize the transaction. Click the ‘Submit’ button if satisfied with the accuracy of the transaction details

Step 7: Return to the Gnosis safe smart mobile wallet to initiate the transfer.

Gnosis Safe smart wallet ease of use:

Though one may consider the setup and activation process for the Gnosis Safe Smart wallet app to be too lengthy, it is still quite straightforward. The setup guide is easy to follow, and you do not even need expert help to set up the mobile wallet or link it with the Safe authenticator. The Gnosis Safe wallet website features a wide range of guides that explain how to activate and interact with the Ethereum wallet.

Gnosis Safe smart wallet supported currencies:

Gnosis Safe is an Eth-focused wallet. It will, therefore, only feature Ethereum, Ethereum Classic, ERC-20 tokens, and such collectibles as the ERC-721 tokens.

Gnosis Safe smart wallet cost and fees:

Gnosis Safe wallet is free to download and install. However, you will be required to pay a small wallet deployment fee of ETH 0.005 when creating a wallet. Other fees include the transaction fees charged by the Ethereum network when you send cryptos/tokens to other wallets or exchanges.

What are the pros and cons of using Gnosis Safe smart wallet?

Pros:

  • It embraces highly advanced security features
  • It makes it possible for you to invest and earn digital assets
  • Gnosis wallet has a highly responsive customer support team
  • The wallet provides you with a demo version that you can use to test the vault

Cons:

  • It will only support Eth based cryptos and tokens
  • The wallet is exposed to inherent threats facing hot wallets
  • It imposes a ‘wallet deployment’ fee

Verdict: Is Gnosis Safe Wallet secure?

Well, Gnosis Safe Smart wallet embraces several highly effective security measures that its developers believe will play a key role in boosting the wallet’s safety and privacy. The wallet is password secured, outbound transfers from the Gnosis Safe smart wallet must be subjected to two-factor authentication, it is a multi-signature vault, and has also been formally verified by the Ethereum network. Our only concern with the Gnosis Safe Smart wallet is that both the Gnosis safe mobile app and Gnosis Safe Authenticator are online-based and, therefore, exposed to the inherent threats facing hot wallets. 

Categories
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.

Categories
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

Trust Wallet review: Safety, Ease of Use, Features, Pros, and Cons

Trust Wallet is a crypto mobile app developed and introduced to the crypto market in November 2017 by Viktor Radchenko. It is an open-sourced crypto project that seeks to provide users with a balance between trust, security, and usability. To this end, this crypto wallet app has embraced a wide range of highly advanced features that seek to boost user privacy and ease of use. Some of these include a Web3 Dapp browser, a decentralized exchange, block explorer, and biometric security features.

Trust Wallet is a crypto mobile app developed and introduced to the crypto market in November 2017 by Viktor Radchenko. It is an open-sourced crypto project that seeks to provide users with a balance between trust, security, and usability. To this end, this crypto wallet app has embraced a wide range of highly advanced features that seek to boost user privacy and ease of use. Some of these include a Web3 Dapp browser, a decentralized exchange, block explorer, and biometric security features.

Trust Wallet is a crypto mobile app developed and introduced to the crypto market in November 2017 by Viktor Radchenko. It is an open-sourced crypto project that seeks to provide users with a balance between trust, security, and usability. To this end, this crypto wallet app has embraced a wide range of highly advanced features that seek to boost user privacy and ease of use. Some of these include a Web3 Dapp browser, a decentralized exchange, block explorer, and biometric security features.

In July 2018, the Trust wallet was acquired by Binance, who made it the official wallet for the Binance Chain and Binance DEX. They also replaced the Kyber Network that previously powered its exchange with Binance decentralized exchange, enhanced the wallet’s security features, and revamped how different users interact with the wallet by cleaning up the user interface.

In this Trust Wallet review, we want to vet the wallet’s security and operational procedures while helping you determine if it is really safe and easy to use.

Trust Wallet key features:

Multi-blockchain wallet: Unlike most crypto wallet apps that will only support one coin or coins built on a specific blockchain, the Trust Wallet is a multi-coin crypto vault that supports a wide range of digital currencies drawn from multiple blockchains.

Buy with card: Trust wallet works in tandem with such payment processing companies as Changelly and Shapeshift that facilitate the purchase of crypto using a debit or credit card.

In-built exchange: Today, Binance DEX handles all the in-app crypto exchanges for the Trust Wallet. It is relatively fast in processing transactions and presents users with a wide range of crypto coins and tokens.

Integrates Wallet connect: Wallet connect is a crypto interaction tool that helps Trust Wallet interact with virtually any Dapp. It is relatively safe as wallet-to-Dapp communications are secured with end-to-end encryption.

Earn via staking: Trust wallet allows you to stake different altcoins and earn up to 7.21% APR. Use the staking calculator on the Trust wallet website to check the staking tokens and the maximum interest.

Portfolio tracker: You also get to track your crypto portfolio and digital asset balances using the transaction history and balance tabs on the Trust Wallet user interface.

Integrates block Atlas: Trust wallet features a blockchain explorer API that anyone can use to explore different blockchain and gain information about tokens, ICOs, Staking, and even track crypto prices.

Trust Wallet security features:

Password + biometrics: You will need to secure your Trust wallet with a strong multi-character password. You are also free to reinforce this with such biometric security features as Fingerprint and Face I.D on compatible devices.

Recovery seed: Trust wallet will also provide you with a recovery/backup seed phrase when you create a user account. Use it to backup your private keys and digital assets.

Non-custodial: Neither Trust wallet nor Binance will collect any information personally identifiable to your wallet. More importantly, the wallet developers do not store your private keys on your behalf. These are stored within your device.

Anonymous user registration: You can register and trade anonymously when using a Trust Wallet. The crypto vault-app doesn’t request any personal information during registration.

Open-source: Trust wallet is a fully open-sourced crypto project that allows both wallet users and crypto security experts to vet and audit the wallets source code for bugs and other vulnerabilities. This code is available on both the wallet website and the GitHub repository.

Regular security audits: In addition to the wallet’s open-sourced nature and the numerous integrated security features, it is also subjected to regular security audits led by some of the most popular crypto security firms.

Watch-only mode: You can log in to the Trust Wallet’s watch-only mode when using an unsecured internet connection. This allows you to view incoming crypto flows and monitor wallet without exposing such sensitive wallet information as your private keys and passwords.

How to activate/ setup the Trust Wallet

Step 1: Start by downloading the Trust wallet app compatible with your device on the company website.

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

Step 3: Read and agree to Trust Wallet’s terms of use

Step 4: Create a strong multi-character password for the wallet

Step 5: You will now receive the wallet’s backup and recovery seed. Write it down and keep it safe offline.

Step 6: Verify the recovery phrase and click continue.

Step 7: Your Trust wallet is now active and ready for use

Step 8: Log in and personalize the wallet by choosing a username, reinforcing the password with biometrics, and create multiple wallets.

How to add/receive Crypto into Trust Wallet:

Step 1: Log in to your Trust wallet and click on the “Buy Crypto” tab on the user dashboard.

Step 2: Select the platform from whence you would like to buy cryptocurrencies from the drop-down list. You can choose Changelly or Shapeshift if you wish to buy it with a card.

Step 3: Follow the prompts to make the purchase.

Alternatively:

Step 1: Log in to the Trust wallet and click on the “Receive” tab.

Step 2: Copy your wallet address or the QR code displayed and forward it to the party sending you cryptos.

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

How to send crypto from Trust Wallet wallet:

Step 1: Log in to your Trust wallet and click on the “Send” tab on the user interface.

Step 2: If you have multiple crypto assets stored therein, select the altcoin you want to send

Step 3: On the transfer window, enter the recipient’s address or scan their QR Code and the amount you wish to send

Step 4: Review the transaction details and confirm the accuracy of these transaction details before hitting send.

Trust Wallet ease of use:

Trust Wallet has a highly intuitive and beginner-friendly user interface. It also provides you with easy access to most blockchain services, including the Dapp browser, an exchange that presents you with hundreds of cryptocurrencies and tokens. More importantly, you can easily integrate the Ethereum network that allows you to access and benefit from ICOs and token airdrops.

Setting up the wallet, creating a user account, and interacting with all the features and service offers integrated within the wallet is easy. Plus, the wallet is also multi-lingual (available in 10+ international languages).

Trust Wallet supported currencies:

According to the Trust wallet website, this crypto vault supports 160k+ assets drawn from 40 blockchains.

Trust Wallet cost and fees:

Trust Wallet is free to download and install. You will, however, have to part with the transaction-processing fee charged by the blockchain network.

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

Pros:

  • The wallet stores the widest range of cryptocurrencies
  • It embraces highly advanced security features, like ensuring the wallet is hierarchically deterministic.
  • Allows you to earn from the crypto-assets through staking
  • It is feature-rich yet easy to use
  • Encourages user anonymity

Cons:

  • It is a hot wallet
  • Some integrated services, like Changelly and Shapeshift, demand user verification.

Comparing Trust Wallet with other Multiblockchain wallets

Trust Wallet vs. eToro wallet

Trust and eToro are both highly popular and feature-rich crypto wallets. They both feature built-in exchanges and facilitate the purchase of cryptocurrencies using a debit or credit card. Both are also multi-coin and multi-blockchain.

There, however, are several fundamental differences between the two crypto-exchange-backed wallets. For instance, while Trust Wallet encrypts user private keys and stores them in the phone, eToro stores the digital assets on the user’s behalf. Similarly, eToro requires that all users satisfy the globally set KYC and AML requirements by verifying their identity when creating a user account, while Trust Wallet asks for no personal user information.

Verdict: Is Trust Wallet safe?

Well, the Binance DEX backed crypto wallet has put in place adequate security and protection measures around your private keys. These include embracing the hierarchically deterministic protocol when it comes to generating wallet addresses, open-sourcing the code for viewership and auditing by the crypto security experts, and integrating advanced deterrence measures for unauthorized access to the wallet. However, we must mention that the wallet is online-based, making it susceptible to online threats and malicious malware.

Categories
Cryptocurrencies

SafePal S1 Hardware wallet Review: How Safe Is Safepal T Hardware Wallet?

SafePal S1 hardware crypto wallet was introduced to the crypto community in 2019. And though it’s relatively new, SafePal is a highly innovative wallet that seeks to provide crypto users with a “Secure, Simple, and Enjoyable crypto management solution.” The wallet has the backing of prominent crypto industry players like Binance Exchange. It has also integrated a host of operational and security features to help it achieve this goal.

SafePal S1 hardware crypto wallet was introduced to the crypto community in 2019. And though it’s relatively new, SafePal is a highly innovative wallet that seeks to provide crypto users with a “Secure, Simple, and Enjoyable crypto management solution.” The wallet has the backing of prominent crypto industry players like Binance Exchange. It has also integrated a host of operational and security features to help it achieve this goal.

SafePal S1 hardware crypto wallet was introduced to the crypto community in 2019. And though it’s relatively new, SafePal is a highly innovative wallet that seeks to provide crypto users with a “Secure, Simple, and Enjoyable crypto management solution.” The wallet has the backing of prominent crypto industry players like Binance Exchange. It has also integrated a host of operational and security features to help it achieve this goal.

According to the SafePal S1 website, the wallet was developed by a group of software, cybersecurity, and hardware experts, with the blessings of Binance. And one of its approaches to solving the constant challenges faced by other crypto hardware wallets was making it a 100% cold storage wallet.

This review will detail its features, understand how it works, vet its ease of use and fees. We will also provide you with a step-by-step guide on how to use SafePal Hardware Wallet before telling you if SafePal S1 is indeed the safest hardware wallet yet.

Key features

High-resolution screen: SafePal S1 hardware wallet has a sleek design that takes the shape of an MP3 player. It features a relatively wide and high-resolution color screen and a D-pad controller that you use to navigate the wallet. It also features a camera whose key role is scanning QR codes for other wallets and exchanges.

Mobile app compatible: SafePal hardware wallet developers have also come up with the SafePal wallet app that you can use to manage your crypto balance and facilitate crypto exchanges.

Monitor crypto portfolio: The SafePal mobile wallet app features the balance and activity tabs that you can use to monitor your crypto portfolio in real-time. For instance, the activity tab outlines your crypto transaction history (inflows and outflows) and, in turn, helps shape your crypto budget.

Integrated exchange: One of SafePal’s key partners is Binance – the largest crypto exchange in the world. And this partly explains why SafePal Wallet mobile app features BinanceDEX that SafePal users can use to trade and exchange different cryptos and exchanges.

Send crypto via social media: SafePal’s innovativeness is best highlighted by the wallet user’s ability to send crypto via the different social media networks. A SafePal wallet user can, for instance, send altcoins and tokens to an individual (regardless of whether they have a SafePal wallet or not) via social media.

Security features

Pin code: SafePal hardware wallet is secured with a PIN code that you set when creating a user account. It is also fitted with the number randomization tool that helps you avoid key loggers and other spying tools.

Password + pattern for the app: The SafePal mobile wallet app, on the other hand, is secured with a password or a pattern.

Recovery seed: SafePal will also present you with a backup and recovery seed for your wallet and private keys. When creating a user account on the platform, you will be presented with either 12 or 24 random phrases that form your wallet’s recovery seed. Write them down and save them offline.

Secure element: The SafePal hardware wallet is also fitted with a hack-proof EAL5+ secure element. This is a global finance industry-grade crypto chip that stores your private keys.

Two-factor authentication: All crypto transactions initiated via the SafePal mobile app must be signed and authenticated using the hardware device.

Key-deletion tool: SafePal S1 wallet features a key deletion tool that allows you to add and delete cryptos and tokens with ease.

Tamper-proof: The hardware wallet’s package features two tamper-proof seals, and so does its secure element. In the case of a suspected cyber hack or if someone tried to tamper with its secure element, the key deletion and self-destruct features will be triggered.

Offline cold storage: SafePal S1 hardware device is a 100% offline vault that connects to your phone or computer via a USB cable. It doesn’t maintain wireless (Wi-Fi, Bluetooth, or otherwise) connections with internet-connected devices.

How to set and activate the Safepal S1 Hardware wallet

Step 1: Download the SafePal S1 mobile app after purchasing the SafePal S1 hardware device

Step 2: Install and launch the app.

Step 3: Create a password and pattern for the mobile app

Step 4: Connect the SafePal S2 hardware device to the computer and choose your preferred language.

Step 5: Open the SafePal app and click on the ‘Add Wallet’ icon. Alternatively, tab the scan button on the top-right corner of the app.

Step 6: Follow the setup wizard prompts to create a user account.

Step 7: Chose a recovery seed (between 12-word seed and 24-word seed) and write it on the mnemonic cards that accompany the hardware wallet package.

Step 8: Verify that you’ve correctly copied this mnemonic phrase.

Step 9: Create and verify a PIN code for the mobile device

Step 10: Scan your wallet’s QR code using the mobile app to connect the two.

How to add/receive crypto into your SafePal S1 Hardware wallet

Step 1: Log in to your SafePal S1 wallet mobile app on click on the “Receive” icon

Step 2: Copy the wallet address and forward it to the party sending you crypto coins.

Alternatively:

Step 3: Have the party sending you cryptos/tokens scan your wallet’s QR code.

Step 4: Wait for the funds to reflect on the wallet.

How to send crypto from your SafePal S1 Hardware wallet

Step 1: Log in to the SafePal S1 mobile wallet app and click on the “Send” button.

Step 2: From the list of hosted cryptocurrencies and tokens, select the coin you want to send

Step 3: Enter the recipient’s wallet address or scan their QR code and the number of coins/tokens you wish to send

Step 4: Select the fee level.

Step 5: Confirm that the transaction details are correct and hit the send button. The app will then display a dynamic QR code specific to that transaction.

Step 6: Use the SafePal S1 hardware wallet to authorize the transfer. Simply use the hardware wallet’s camera to scan the app’s QR code and enter the PIN to sign and authorize the transaction.

Step 7: Confirm that the transaction has sailed through on the mobile app via the

SafePal S1 Hardware wallet ease of use

Though lengthy, SafePal S1 has a straightforward onboarding process. The wide display screen on the hardware wallet and easily navigable mobile wallet app interface has made interacting with the crypto vault, receiving, and sending cryptos relatively easy.

SafePal S1 hardware wallet is also available in over ten international languages.

SafePal S1 Hardware wallet supported currencies and countries.

According to the SafePal S1 website, the hardware wallet can support 1000+ cryptocurrencies and tokens. Wallet addresses are also generated offline by the hardware device.

SafePal S1 Hardware wallet cost and fees

SafePal S1 hardware wallet costs $59.99, but the company behind the brand is currently running a limited-time discount of $39.99.

The only other charge you will have to part with is the blockchain network’s network fees for transaction verification and confirmation.

What are the pros and cons of using the SafePal S1 Hardware Wallet?

Pros:

  • Very safe as it stores all your private keys offline in a tamper-proof secure element
  • SafePal S1 is cheaper than most other crypto hardware wallets
  • The hardware wallet supports a wide range of both cryptocurrencies and tokens
  • It features the largest and most liquid crypto exchange
  • The hardware is tamper-proof and embraces stringent security measures

Cons:

  • One may consider the wallet’s activation process quite laborious and not beginner-friendly
  • It maintains a rather complicated crypto transfer process

Comparing Safepal S1 Hardware wallet with other hardware wallets

Safepal S1 Hardware wallet vs. Ledger Nano S

SafePal S1 and Ledger Nano S are both highly advanced crypto hardware wallets. Their similarities include the fact that they both host 1000+ crypto coins and tokens. They store the client’s private keys offline and employ multi-layer protection tools around all the wallets, including two-factor authentication and offline wallet address generation. Both are also compatible with mobile apps and feature on-device screens that help ease navigation.

The two are also different in the pricing and mode of operation. For instance, while the Ledger Nano S hardware wallet costs around $60.00, SafePal S1 costs a paltry $39.99. Similarly, while the SafePal hardware device and its mobile app companion will only communicate through the hack-proof QR Codes, Ledger Nano S connects to its app companion via a wireless Bluetooth connection that is susceptible to man-in-the-middle attacks.

Verdict: Is Safepal S1 Hardware wallet safe?

SafePal S1 is a safe hardware wallet. It has embraced several highly effective security and privacy measures to safeguard the integrity of the device and private keys held therein. And it all starts with tamper-proof packaging with two proprietary seals. It has also employed multiple security features, including two-factor authentication, offline generation of wallet addresses, and a 6-digit passcode for the hardware device and password + pattern for the SafePal S1 mobile wallet app. You only have to part with the $39.99 wallet cost.

Categories
Cryptocurrencies

Bitcoin Gold Core Wallet Review: What Sets This Wallet Apart?

The Bitcoin Gold Core Wallet is a wallet that stores Bitcoin Gold coins. Bitcoin Gold –like Bitcoin Cash- is a fork of the original Bitcoin currency. It aims to fix one of Bitcoin’s flaws; the increasing centralization of Bitcoin’s mining industry. The original creators of Bitcoin wanted anyone to be able to mine with their personal computer and earn some extra cash from their spare computing cycles.

The Bitcoin Gold Core Wallet is a wallet that stores Bitcoin Gold coins. Bitcoin Gold –like Bitcoin Cash- is a fork of the original Bitcoin currency. It aims to fix one of Bitcoin’s flaws; the increasing centralization of Bitcoin’s mining industry. The original creators of Bitcoin wanted anyone to be able to mine with their personal computer and earn some extra cash from their spare computing cycles.

The Bitcoin Gold Core Wallet is a wallet that stores Bitcoin Gold coins. Bitcoin Gold –like Bitcoin Cash- is a fork of the original Bitcoin currency. It aims to fix one of Bitcoin’s flaws; the increasing centralization of Bitcoin’s mining industry. The original creators of Bitcoin wanted anyone to be able to mine with their personal computer and earn some extra cash from their spare computing cycles.

As Bitcoin’s value grew, however, miners adopted extremely efficient (and expensive) custom-built application-specific integrated circuit (ASCI) mining rigs. This made Bitcoin mining a highly specialized industry since consumer PCs could not (and still can’t) compete with these custom rigs. Bitcoin Gold solves this while, at the same time, builds on Bitcoin’s tried and tested systems.

Bitcoin Gold Core Wallet Key Features

Bitcoin Gold adopts most of Bitcoins’ underlying infrastructure. However, it utilizes the Equihash proof of work algorithm, which cannot be sped up by custom hardware. This eliminates the disproportionate advantage that such rigs confer to their owners. It also utilizes a per-block difficulty adjustment algorithm, replay protection, and the Bitcoin Gold core wallet, which is built on the Bitcoin core.

ASCI Resistant

On average, every ten minutes, a computer on the Bitcoin blockchain network adds a block to the end of the blockchain and gets a crypto reward for that. Miners compete for the privilege of getting to add a block, primarily because of that reward. They do this by racing to solve a mathematical problem. Because Bitcoin uses an SHA-256 hash-based algorithm, the most computing power entity stands the highest chance of adding a block to the chain.

Bitcoin Gold, however, uses the Equihash memory intensive algorithm. For this reason, it is much harder – if not impossible – to game the system by having powerful rigs at your disposal. This bodes well for Bitcoin Gold Core wallet users since to use the wallet, you need to download the whole Bitcoin ledger onto your computer, which allows you to mine with your spare cycles if you want to.

Full Bitcoin Node

As mentioned above, you cannot use the Bitcoin Gold core wallet as a standalone wallet. You need to download the full node during the initial setup process. Despite weighing in at hundreds of gigabytes, having the full node on your computer offers a number of advantages.

Firstly, you do not require having your transactions validated by a third party; you can verify them yourself.

Additionally, since the node relays and validates your transactions on the Bitcoin network, you can choose the priority you want your transactions to be given, and by extension, the fees charged for each transaction. Further, you can validate and verify other people’s transactions, earning some extra coin.

Hot Wallet

The Bitcoin Gold Core Wallet requires an internet connection. This means your funds are easily transferrable. The name ‘wallet’ is, to some degree, misleading since the Gold Core wallet doesn’t store funds in the same way a physical wallet does. In contrast, it allows you to change the records stored on the blockchain ledger- a copy of which you’ll need to have on your computer, as explained above.

Security and Privacy Features

Purely by being based on blockchain technology, the Gold Core wallet is a very secure crypto storage option for Bitcoin Gold currency holders. Its creators didn’t stop there, however. They’ve built upon the Bitcoin network, leveraging its strengths and security features. Additionally, the Bitcoin Gold Core wallet is based on the Bitcoin Core wallet, making it one of the safest wallets available.

Compatible with Tor

As you well know, the Bitcoin blockchain is a publicly available ledger. Anyone can keep a copy of it if they wish and analyze it for their various ends. This makes it very difficult to introduce falsified transactions since all the other computers in the network will cross-check and reject it. The disadvantage of this, however, is that anyone can trace your identity if they are determined.

The Tor network is an encrypted web communication protocol that ensures the privacy and anonymity of its users. It does this by leveraging a series of nodes (read servers) that mask your IP address and any inadvertently revealed personal data. The Bitcoin Gold core wallet leverages the Tor network, routing all your transactions and traffic through its transport layer, effectively hiding your original IP address.

Hierarchically Deterministic

Since Bitcoin Gold is derived from Bitcoin, it inherits the Hierarchical deterministic nature of the Bitcoin core wallet. This means that after you use your receiving address, a new one is generated for you. These addresses are your public keys, as you share them publicly with anyone who you’d like to send you money. As all these keys are governed by a single key pair, called the extended public key (xpub), previous addresses remain completely usable.

To access the funds from each of your public addresses, you need to use its corresponding private key. These private keys are also governed by a single key pair, called the extended private key (xpriv). The xpriv is effectively the one key that rules all the others, while the xpub is the one key that brings together your addresses and binds them to your wallet.

Open Source

Much like the Bitcoin core wallet, the Bitcoin Gold core wallet is open source. Anyone can audit, make suggestions, and contribute to its codebase. This means that security loopholes are caught and fixed faster than on proprietary software since more people are on the lookout for bugs. Additionally, all processes are transparent since changes have to be publicly declared and vetted before they are committed to the wallet’s main branch.

How to Set Up and Activate the Bitcoin Gold Core Wallet

Before setting up and opening a Bitcoin Gold core wallet account, you should consider a few things.

Available Disk Space

As has already been established, you cannot run the Gold core wallet as a standalone wallet application. You need to download the full Bitcoin node, which at the time of this writing, is around 200GB. However, you cannot only have 200 gigabytes of storage available since this node grows in size as the number of transactions increases.

The application files will also occupy some space, so it’s probably best to have a few terabytes of spare storage. Additionally, you should set aside a few USB sticks or hard drives to backup your wallet. It is recommended that you regularly back up your wallet on at least two external drives. Do this before upgrading your wallet and after a series of transactions.

Device Security

Due to the sensitive nature of the data this software will store on your computer, you need to ensure that your computer is completely free from malware. Install anti-virus/ anti-malware software and run a full scan. Fix any problems the software identifies before installing the Gold core wallet.

Additionally, make sure you scan all the USB sticks you use to back up the wallet and take care not to install software from shady sites, as some of this software may have masked its malware well enough to escape the anti-virus radar.

Regularly (and promptly) install software and operating system updates, as they usually include security patches.

Internet Connection

During the initial set-up, you will need to download the full bitcoin node. This will require you to have a very reliable internet connection, one that’s fairly fast and that doesn’t impose strict limits. After the initial download, you will then need to maintain a good internet connection since your node needs to communicate with other nodes on the network as transactions happen.

After appropriately set up your device, you can then follow the steps outlined below to open and activate a Bitcoin Gold core wallet account.

Download the Bitcoin Gold Core Wallet

You can get the Gold core wallet from the official Bitcoin Gold website. The software is available for Windows (64 and 32 bit, Vista and later), Mac OS (v10.1 or higher), Linux (64 and 32 bit), and ARM Linux (64 and 32 bit). Installation instructions might vary depending on your platform, but the process should be fairly straightforward.

Start the Software

Launch the wallet. This will begin the node download. Your internet and PC speed will influence the amount of time this process takes, but you’ll likely need to be a little patient as this huge-volume data transfer takes time. You won’t have to repeat this, however, as it’s a one-time download.

Set Your Password

Once the node has been fully downloaded, go to the wallet settings, hit ‘encrypt wallet,’ and set your password.

Backup Your Wallet and Private key(s)

After logging in to your account, go to the file section and hit ‘backup wallet.’ Select the destination (this could be a USB drive, external hard drive, a mobile phone, or a CD) where you want the backup to be saved. It is recommended that you backup your wallet on more than one drive. To back up your private keys, go to the help section, hit ‘debug window’ then ‘console.’ Copy the key and store it well.

Congratulations, your wallet is now ready to use.

Bitcoin Gold Core Wallet Customer Support

This wallet is open-source, so you can raise issues and even fix them yourself if you’re skilled enough. However, for non-techies, the customer service can be contacted through the Bitcoin Gold website or via their various social media channels.

Verdict

The Bitcoin Gold core wallet is a secure solution for Bitcoin Gold holders. It is especially suited for those who’d like to mine and earn some extra crypto, and for those who have enough space and bandwidth to run a full bitcoin node.

Categories
Cryptocurrencies

XZEN Hardware Wallet Review: Security, Fees, Ease of Use, Pros, And Cons

XZEN website describes its hardware wallet as a “Hybrid cybersecurity system” that “Combines hardware, software, and services” in guaranteeing maximum security, transparency, and the highest levels of user experience. It was designed and developed by an Estonian Virtual currency wallet and exchange services provider, XZEN EST Ltd, and launched in 2018. It is the native wallet for the XZEN exchange and features a mobile app companion that hosts such interactive services as the crypto exchange and payment service processor.

XZEN crypto hardware wallet

XZEN website describes its hardware wallet as a “Hybrid cybersecurity system” that “Combines hardware, software, and services” in guaranteeing maximum security, transparency, and the highest levels of user experience. It was designed and developed by an Estonian Virtual currency wallet and exchange services provider, XZEN EST Ltd, and launched in 2018. It is the native wallet for the XZEN exchange and features a mobile app companion that hosts such interactive services as the crypto exchange and payment service processor.

XZEN website describes its hardware wallet as a “Hybrid cybersecurity system” that “Combines hardware, software, and services” in guaranteeing maximum security, transparency, and the highest levels of user experience. It was designed and developed by an Estonian Virtual currency wallet and exchange services provider, XZEN EST Ltd, and launched in 2018. It is the native wallet for the XZEN exchange and features a mobile app companion that hosts such interactive services as the crypto exchange and payment service processor.

According to XZEN founder Dmitry Laptev, this highly innovative and versatile Crypto was born of the need to change the security architecture around hardware wallets. It is especially aimed at eliminating the chances of losing your digital assets because of a forgotten PIN or lost backup seed. It is also one of the few hardware wallets that support fiat currencies.

This review will be vetting the hardware wallet to determine if it is as secure and easy to use as advertised. We will outline its key operational and security features, provide you with a step-by-step guide on how to set up and use XZEN wallet, check the number of supported currencies, and compare it with other hardware wallets.

XZEN Wallet key features

On-device screen: XZEN hardware wallet features a 2.4-inch high-resolution LCD screen that is large enough to fit the entire wallet address.

Mobile compatibility: The hardware wallet has a mobile (Android/iOS) and desktop (Windows/macOS/Linux) app companions that host most of XZEN’s interactive features such as the crypto exchange and portfolio tracking tools.

Inbuilt exchange: XZEN hardware wallet users also interact with the XZEN decentralized exchange hosted on the mobile and desktop apps. The wallet is hybrid and supports both crypto-to-crypto as well as fiat-to-crypto exchanges. Also, it allows you to buy Crypto virtually via any credit/debit card.

Instant transfers: Cryptocurrency transfers on the XZEN platform are instantaneous. Moreover, transfers within the wallet’s ecosystem (from one XZEN wallet to another) do not attract additional charges or commissions.

Contactless payments: Embedded in the XZEN hardware wallet device is an NFC chip that powers contactless payments. It allows you to pay for goods and services in millions of stores worldwide without necessarily connecting your device to the store’s hardware. The chip is also attributed to one of the wallet’s coolest features – wireless charging.

Wireless connections: Just like you don’t need to physically connect an XZEN hardware device to a store’s systems to pay for goods, you also don’t need to connect it to your computer or mobile phone to transfer coins. It is fitted with the Bluetooth 4.2 technology used to communicate with its app companion via a highly secure and AES encrypted channel.

Steel case: The XZEN wallet components are protected by an airtight steel casing that is both dust and waterproof.

Security features

PIN Code + Touch ID: XZEN hardware wallet embraces a multilayered security feature that constitutes both a PIN Code and Touch ID.

Encrypted CPU: The hardware wallet will also feature a highly encrypted CPYU/secure element on which your private keys are stored.

Cold storage: XZEN hardware wallet maintains that the private keys for digital assets are always kept in a 100% offline device and never leave the wallet.

Two-factor authentication: All transfers out of your XZEN wallet must be subjected to two-factor authentication. While you can initiate the outbound transaction via the mobile or desktop app, it must be authorized by the hardware device.

Licensed: XZEN EST Limited is a licensed virtual currency wallet and exchange services provider, authorized and regulated by Estonia’s Financial Intelligence Unit (FIU).

How to set and activate the XZEN wallet

Step 1: Start by ordering the XZEN hardware device from the XZEN wallet’s official website.

Step 2: Open the XZEN wallet official website. Click on the “APP” page. Download the wallet app that is compatible with your phone or computer.

Step 3: Install and launch the app.

Step 4: Choose a username and create a unique multi-character password for the wallet app.

Step 5: Turn on the XZEN hardware wallet and pair it to the phone app via Bluetooth or the USB cable.

Step 6: Once paired, the hardware wallet will request you to create a PIN code and set up the fingerprint ID.

Step 7: It will then provide you with a 12-word recovery seed

Step 8: The wallet will now generate a wallet address that you can use to add/receive funds

How to add/receive Crypto into your XZEN wallet

Step 1: Log into your XZEN crypto wallet app and click on the “Receive” button.

Step 2: Copy the wallet address or QR code provided and send them to the individual sending you coins.

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

How to send Crypto from your XZEN wallet

Step 1: Log in to your XZEN crypto wallet app and hit the “Send” icon.

Step 2: Select the cryptocurrency or token you wish to transfer, especially if you have multiple wallet addresses

Step 3: Enter the recipient address and amounts you want to send

Step 4: Turn on and login to XZEN hardware wallet.

Step 5: Connect the phone or computer to the hardware device via the cable or Bluetooth

Step 6: Confirm that the transaction details are correct and authorize the transaction.

XZEN wallet ease of use

XZEN has one of the most intuitive interfaces – for both the hardware device and the mobile/desktop apps. They are both clean and easy to navigate with little to no help. Several text and video guides throughout the XZEN wallet website can help you master your way around the device and apps. These come in handy in teaching you how to send or receive cryptos via XZEN and in figuring out your way around the crypto exchange.

These, plus the relatively easy and straightforward onboarding process, make XZEN wallet one of the most intuitive hardware wallets.

XZEN wallet supported currencies

XZEN is a multicurrency hardware wallet that is yet to embrace multiple cryptos and tokens. Currently, you can only host Bitcoins, Ethereum, and ERC-20 tokens on the wallet, but the XZEN website hints about an upcoming upgrade that incorporates more popular cryptos.

XZEN wallet cost and fees

XZEN hardware wallet costs $120.

Crypto exchanges within the decentralized exchange and crypto transfers to other XZEN wallets are free. Nevertheless, you will pay a variable network fee every time you send cryptos and tokens to external wallets and exchanges.

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

Pros:

  • Crypto transfers from one XZEN wallet to another are free.
  • It integrates a hybrid exchange that allows you to pay for Crypto using a card.
  • Embraces a wide range of security and privacy features.
  • Supports anonymous user registration and trading.
  • Your private keys are held in offline cold storage and never leave the wallet.

Cons:

  • Supports a limited number of cryptocurrencies
  • Requires you to verify identity if you want to pay for Crypto via card

Comparing XZEN wallet with other hardware wallets

XZEN wallet vs. Ledger Nano S wallet

XZEN and Ledger Nano S are both multicurrency hardware wallets. Some of the key security measures they have both implemented include the generation of wallet addresses offline, cold storage for private keys, and two-factor authentication. They also have an on-device screen that one can use to check crypto balances while offline and verify transaction details for outbound transfers.

The two, however, have several operational differences. For instance, while XZEN will only support two major cryptocurrencies, Ledger Nano supports 1000+ cryptos and tokens. The on-device screen for the Ledger wallet is smaller than the large and high-resolution color screen on the XZEN hardware wallet. Moreover, XZEN can be more versatile as it is complemented by feature-rich mobile and desktop companion apps.

Verdict: Is XZEN wallet safe?

Yes. With fingerprint protection, offline cold storage, two-factor authentication, password-protected apps, and recovery seed in place, XZEN hardware wallet has put in place adequate security measures around your private keys. And in appreciation of XZEN wallet’s security-focused approach, storing and managing digital assets, the company was honored with the Excellence in Finance Award in 2019 during the global FiNext Conference in Singapore. Our only reservations with the hardware wallet are its relatively expensive price ($120) and its support for a limited number of coins.

Categories
Cryptocurrencies

Coinkite Review: Features, Security Measures, Pros and Cons

Coinkite is an innovative company that has been producing several cryptocurrency-related products. Its dedication to wow crypto enthusiasts has seen them manufacture a range of gadgets, including a hardware wallet, a Bitcoin data visualizer, metal backup plates, and even a Bitcoin server!

Coinkite is an innovative company that has been producing several cryptocurrency-related products. Its dedication to wow crypto enthusiasts has seen them manufacture a range of gadgets, including a hardware wallet, a Bitcoin data visualizer, metal backup plates, and even a Bitcoin server!

Coinkite is an innovative company that has been producing several cryptocurrency-related products. Its dedication to wow crypto enthusiasts has seen them manufacture a range of gadgets, including a hardware wallet, a Bitcoin data visualizer, metal backup plates, and even a Bitcoin server!

There is a lot to talk about when it comes to Coinkite, but today let’s focus on its hardware wallet – Coldcard.

Coldcard is “an open, cheap, and ultra-secure hardware wallet,” according to the company’s official website. “Don’t trust, verify,” also goes their slogan. So, we shall not take their word for it but embark on a critical review of the product to verify these claims and give a balanced verdict on whether it’s worth the money and trouble it costs. This review looks at Coldcard’s key features, it’s security, setting up the wallet, customer support, and other useful aspects. 

Key Features

  • Hardware wallet – Obviously, but worth mentioning nonetheless, Coinkite’s Coldwallet is a hardware device
  • Open source – The code that runs Coinkite is open-source. You can compile it yourself if you so wish
  • True air-gap operation – Air-gapped devices are meant to never connect to the internet. While some air-gapped devices occasionally connect to a computer connected to the internet, you can operate Coinkite without ever connecting it to a computer, thus, “true air-gap operation.”

Setting up Coldcard

Before the setup is done, you need to get yourself a Coldcard. This mini-calculator-sized device can be purchased from store.coinkite.com for $119.97. This is about the same price you will pay for other leading brands such as Trezor One. 

You can also buy Coldcard in one of the bundled packages that Coinkite offers. For instance, for $169.99, you get a Coldcard and two industrial-grade MicroSD cards. There’s, however, one exciting bundle – the “Backup Bundle” that comes with two Coldcards, two industrial-grade MicroSD cards, a power-only USB cable, and one seed plate backup, all for $329.99.

Coinkite also sells a variety of accessories that you can use with the wallet. They have a Bitcoin price-tracker, caps, and even stickers. But the Center Punch used for etching backups on their 2mm-thick steel seed plate stands out.

Initial set up process.

  • Upon receiving your package, inspect the tamper-evident bag for any signs of prior opening. The bottom of the bag should be seamless, and the perforations on the tear-off tab should match those on the bag.
  • Connect the Micro USB cable to the USB port at the top of the device and the other end to a power source. Coldcard will turn on and display its Terms of Service. Use the 5 and 8 keys to scroll through the message and press the OK key when done. 
  • Next, you will set an initial PIN. Coldcard’s PIN is divided into two parts – a prefix and a suffix. Each part must be at least two digits long. The prefix is used to generate a set of words that you will see each time you log in. Once you provide the prefix, Coldcard will generate your set of words, which you will need to memorize. You can experiment with several prefixes until you’re comfortable with the set of words you get. Next, you will set your pin and confirm it.
  • Now that your security options are configured, you can create a new wallet or import an existing one. Both options are readily available from the main menu.
  • If you choose to create a new wallet, Coldcard will show you a sequence of 24 words that you must record in the order presented. Coldcard will then ask to verify your seed words, which is basically backing up your wallet.

You should not use your wallet until your seed backup is configured correctly. Also, remember that you cannot recover your PIN should you lose it, even if you contact customer support. 

At this point, the wallet is ready for your day-to-day usage. So let’s see how you can send and receive funds.

Sending and Receiving Funds

You can operate Coldcard with or without connecting it to a computer. Connecting your wallet to your computer allows faster and easier operation. On the other hand, operating the device without ever connecting it to a computer allows for more secure operation. Let’s start with the easier way of doing it.

Using Coldcard with Computer Connected

  • Install the latest version of Electrum with Coldcard support on your computer
  • Connect Coldcard via USB and enter the PIN
  • Open Electrum and go to “New/Restore” on the file menu
  • Choose a file name and specify that it is a standard wallet in the next menu
  • Select “Use a hardware device” and pick Coldcard from the list of devices that appears
  • Set up a transaction, as usual, preview it, then choose to save PSBT (partially-signed Bitcoin transaction)
  • Save the file directly to your MicroSD card

Using Coldcard Offline

  • On the device’s menu, navigate to Advanced>Micro SD Card>Export Wallet>Electrum Wallet
  • A warning message should appear. Approve it and proceed. This step creates a file with the name new-wallet.json
  • Remove the MicroSD card from Coldcard and connect it to your computer, which should be running Electrum with the Coldcard plug-in enabled
  • Open new-wallet.json and give it a few moments to synchronize

Sending Funds 

  • Set up your transaction in Electrum and save it as PSBT. Then copy the PSBT file to Coldcard’s MicroSD card
  • Transfer the MicroSD card to Coldcard and scroll down to “Ready to sign” on Coldcard’s main menu
  • Select the PSBT file that needs signing 
  • You will see a preview of the transaction details. Approve and proceed
  • Coldcard will sign the transaction and save it under the same file name and append a -final.txn suffix
  • Transfer the MicroSD card to the computer, load the transaction and push it to the blockchain 

If you have used other wallets, you might find Coldcard’s offline transactions quite cumbersome. However, if you are paranoid about security, you will likely find the process pleasurable.

To receive funds, you need to generate a receive address. This can be achieved from the Address Explorer on the Advanced Menu. Addresses generated can be saved on the MicroSD card for ease of transfer to a computer.

Pros
  • Ultra-secure hardware wallet – Coldcard includes all the security features of a standard hardware wallet plus a dedicated security chip and tamper-evident packaging 
  • The product is relatively affordable and can be complemented with a variety of accessories from the same manufacturer
  • Initial set up is easy
Cons
  • It is larger than most hardware wallets, which makes it less portable 
  • It has a particularly uninteresting design
  • Customer support is not as responsive as one would expect from a commercial product
  • Using the wallet in offline mode is quite cumbersome

Final Thoughts

Coldcard is arguably one of the most secure hardware wallets. The product offers superior security, set up simplicity, and solid performance. However, its support for only one currency, below-par customer service, and cumbersome offline transactions create room for improvement.

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Cryptocurrencies

Lisk Core Crypto Wallet Review: Is It The Safest LISK Wallet Yet?

Lisk Core crypto wallet is a full node desktop client and one of the most popular wallets for the LISK blockchain. And on their website, LISK Core is described as a highly innovative wallet focusing on both “Best user experience and security.” But Lisk Core is more than a crypto wallet and can easily pass for a Lisk Blockchain annex. It not only provides you with a direct link to the LISK blockchain but also integrates the unique App-Builder tools.

Lisk Core crypto wallet is a full node desktop client and one of the most popular wallets for the LISK blockchain. And on their website, LISK Core is described as a highly innovative wallet focusing on both “Best user experience and security.” But Lisk Core is more than a crypto wallet and can easily pass for a Lisk Blockchain annex. It not only provides you with a direct link to the LISK blockchain but also integrates the unique App-Builder tools.

Lisk Core crypto wallet is a full node desktop client and one of the most popular wallets for the LISK blockchain. And on their website, LISK Core is described as a highly innovative wallet focusing on both “Best user experience and security.” But Lisk Core is more than a crypto wallet and can easily pass for a Lisk Blockchain annex. It not only provides you with a direct link to the LISK blockchain but also integrates the unique App-Builder tools.

This review seeks to determine whether Lisk Core is the most secure Lisk wallet yet and how its integration with the Lisk blockchain network has improved its efficiency. We will also be looking at such factors as ease of use, customer support, pros, and cons before comparing it to equally popular Lisk wallets.

Lisk Core wallet key features:

Full node desktop client: Lisk core wallet directly integrates the graphical user interface for the Lisk Blockchain. Therefore, installing the desktop client translates to downloading the Lisk blockchain on to your computer and synchronizing it with Lisk mainnet. The process may be time-consuming and takes up significant computer storage space.

Blockchain explorer: The desktop client also integrates a blockchain explorer tool for Lisk Mainnet. Via the explorer, you can monitor the Lisk decentralized network, monitoring transactions, wallets, and vet blockchain delegates.

Hardware wallet support: Lisk core desktop client is also highly versatile. It, for instance, can be integrated with Trezor and Ledger hardware wallets. And this integration comes in handy in maxing the number of supported cryptocurrencies and boosting the wallet’s safety.

Vote for delegates: Lisk blockchain operates on the proof-of-stake consensus algorithm. Staking LSK tokens gets you involved in the Lisk network’s decision-making processes. It could, for instance, ensure that you participate in voting for Lisk network delegates.

Lisk SDK App builder: One of the unique features that help set Lisk apart from the competition is the LISK SDK that gives you a platform to develop decentralized apps. And unlike other blockchain-linked app builder platforms that seek to introduce new programming languages, LSK SDK supports the all-popular JavaScript and TypeScript languages. Plus, you also get to interact with some of the Dapps built on Lisk SDK.

Lisk Core security features:

Password encryption: You will be required to create and secure your Lisk Core desktop client with a password when installing the wallet and creating a user account. This passphrase doesn’t just secure your wallet but also serves as an encryption tool.

Open source: The wallet Lisk desktop wallet is built on an open-sourced technology. Anyone is free to view and audit its code for possible loopholes or malicious codes. Blockchain security experts are especially advised to query this code, that’s available on GitHub and participate in the Lisk Bug Bounty Program that rewards individuals who discover loopholes or suggest security patches for Lisk.

Non-custodial: Though Lisk desktop client integrates directly with the blockchain user interface, it doesn’t store your digital assets in the Lisk servers. Rather, the Lisk desktop wallet saves your private keys within the computer.

Recovery seed: The Lisk Core desktop client will also backup your wallet and provide you with a recovery seed. That comes in handy when recovering lost private keys or restoring the desktop client on a different computer.

How to set up and activate the Lisk Core crypto wallet:

Step 1: Download the Lisk Desktop client from the wallet’s official website or GitHub

Step 2:  Install and on upon launching, click ‘Create New Wallet.’

Step 3: Enter your name and create a unique multi-character password for the wallet

Step 4: The wallet will provide you with a recovery seed. Copy the phrases correctly on a piece of paper and keep them safe, offline.

Step 5: The wallet is now active and ready for use

How to add/receive LSK tokens to your Lisk Core crypto wallet:

Step 1: Log in to your Lisk desktop client and on your user dashboard, click on the “Receive” tab

Step 2: This reveals your public wallet address. Copy it and forward it to the party sending you crypto

Step 3:  Wait for the coins to reflect on your wallet

How to send cryptos from your Lisk Core wallet

Step 1: Log in to your Lisk Core desktop wallet and on the user dashboard, click “send.”

Step 2: If you have more than one cryptocurrencies hosted here, select the crypto address from which you wish to transfer funds

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

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

Lisk Core ease of use

Downloading and installing the Lisk Core desktop client and creating a user account is easy and straightforward. It is also highly intuitive and easy to use as it features a unified and scalable navigation menu that is compatible with multiple sizes of computer screens.

The Lisk SDK app builder platform can also be considered user-friendly as it comes available in popular programming languages JavaScript and TypeScript. However, we must observe that the desktop client and its tools are more adapted for programmers and developers looking to build and launch a decentralized app on the ultra-secure Lisk blockchain.

Supported currencies and countries

Lisk Core desktop wallet supports both Bitcoins and LSK Tokens and is available in virtually all crypto-friendly countries worldwide.

Lisk Core wallet cost and fees

The Lisk Core wallet desktop client is free, and you won’t be charged when you install the wallet or store your BTC and LSK cryptos here.

But every time you initiate a transfer out for either crypto, you will be charged network fees – collected by the respective blockchains and not Lisk Core wallet.

Lisk Core customer support

Lisk Core wallet has a relatively responsive customer support team. And client assistance starts with the regularly updated FAQ and announcement pages on their website. The FAQ addresses all the common challenges Lisk core wallet users face, while the Announcements page features recent news and explanatory guides about updates to the wallet.

You are also encouraged to join the Lisk community forum and interact with the wallet developers and other users. Here, you can raise queries about the wallet and have them answered by your peers or wallet developers.

For more personalized queries, you can reach out to the Lisk customer support team by sending them an email, joining the live chat via Discord app, or direct messaging them on the wallet’s official wallet social media pages like Twitter, Facebook, or Reddit.

What are the pros and cons of using Lisk Core Crypto Wallet

Pros:

  • The desktop client is highly secure as it integrates multiple security features over the wallet.
  • It is highly intuitive and features an easy to use and easily navigable user interface.
  • Its integration with the Lisk blockchain gives you access to all the mainnet’s features, including voting rights.
  • Lisk core desktop client provides you with a link to the Lisk SDK where you can develop Dapps for free.

Cons:

  • It can only support Bitcoins and LSK tokens.
  • It is not beginner-friendly but specially designed for technical Dapps developers.
  • The Lisk core wallet is a full node desktop client that takes consumes significant computer storage space and RAM.
  • Comparing Lisk Core Crypto wallet with other Lisk wallets

Verdict: Is Lisk Core Crypto wallet safe?

Well, Lisk Core is a full node desktop client and, as such, may be considered secure than most other web and app-based wallets. In addition to this, Lisk core has embraced multiple security features around the wallet that include encrypting data in the wallet with a password, open sourcing the wallet technology, and providing users with a recovery seed. However, we must mention that being a full node desktop client doesn’t make the wallet immune to online hacks and phishing attacks. And that its failure to embrace premium encryption tools or two-factor authentication goes against its security-focused mantra.

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Cryptocurrencies

GUI Light Wallet Review: Security, Features, And Ease of Use

The GUI light wallet is a highly innovative crypto wallet that stores and helps you manage your IOTA tokens. According to the IOTA foundation, GUI Light is specially designed to provide IOTA altcoin holders with the most user-friendly, simple, and inexpensive way of securing and interacting with their digital assets. The wallet was launched in 2016 and has since been subjected to several upgrades that introduced vital security and operational features.

IOTA GUI Wallet

The GUI light wallet is a highly innovative crypto wallet that stores and helps you manage your IOTA tokens. According to the IOTA foundation, GUI Light is specially designed to provide IOTA altcoin holders with the most user-friendly, simple, and inexpensive way of securing and interacting with their digital assets. The wallet was launched in 2016 and has since been subjected to several upgrades that introduced vital security and operational features.

The GUI light wallet is a highly innovative crypto wallet that stores and helps you manage your IOTA tokens. According to the IOTA foundation, GUI Light is specially designed to provide IOTA altcoin holders with the most user-friendly, simple, and inexpensive way of securing and interacting with their digital assets. The wallet was launched in 2016 and has since been subjected to several upgrades that introduced vital security and operational features.

In this GUI Light wallet review, we will be vetting the effectiveness of its security features. We will also look at the wallet’s user-friendliness and highlight its pros and cons before comparing it with other IOTA-only crypto wallets.

We start by looking at its key operational features.

Key features:

Integrated into IOTA GUI: GUI Light wallet draws its name from the fact that it is incorporated into the IOTA network’s Graphical User Interface. It not only allows you to store your IOTA coins but also provides you with a direct link to the IOTA network.

Double spend warnings: The double-spend warning feature is a recent upgrade to the GUI Light wallet aimed at helping you avoid conflicting transactions. It warns you every time you attempt to initiate an outbound transfer twice, especially if the first transaction hasn’t been confirmed. You can choose the ‘Yes, send it now’ option for legitimate transfers and ‘No, Cancel’ option for a double-spend transaction.

Light node: There are two versions of the GUI IOTA wallet: Full node and Light Node. The GUI Light Wallet is light, non-technical, and specially designed for beginner traders. It makes it possible for you to run and interact with the IOTA network without installing the desktop client that eats into your computer speed and storage space.

Highly versatile: GUI Light wallet is a desktop app wallet. It is also highly versatile and compatible with all the popular operating systems, including Windows, macOS, and Linux.

Track your portfolio: On the GUI Light wallet user dashboard is the History tab as well as the balance display tab that lets you track your IOTA tokens inflow and outflow. These go a long way in helping monitor your spending as well as budgeting and finance management.

Security and privacy features:

Password: Like any other crypto wallet, the GUI Light wallet is secured with a password that you set when creating a user account.

Recovery seed: When setting up your GUI light wallet user profile, you will be provided with a recovery seed. Write it down and keep it safe, as you will need it to reset the wallet password and recover your private keys from a lost wallet.

Open source: The GUI Light wallet is built on an open-sourced technology. This implies that virtually anyone can view and audit the wallet’s source code and possibly identify malicious codes or other security loopholes.

Community-led development: The fact that the GUI Light wallet was created and is currently maintained by the IOTA Foundation it centralizes its operations. However, the foundation is gradually walking away from this centralized control of the wallet by bringing onboard developers from the IOTA community. It hopes to ultimately dissociate itself from the wallet and hand it over to the community developers who will direct future upgrades and further developments.

Non-custodial: This desktop app wallet stores your private keys in your computer and not on the IOTA Foundation servers, giving absolute control over your wallets.

How to set up and activate the GUI Light wallet

Step 1: Open GitHub and search for GUI Light wallet

Step 2: Download the most recent update of this desktop wallet that is compatible with your desktop/laptop’s operating system

Step 3: Click on install and select light node

Step 4: Complete the registration tab by entering your email address and setting your wallet’s password

Step 5: The wallet will provide you with a recovery seed. Copy these phrases onto a piece of paper and store them on a safe place offline

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

How to add/receive coins to GUI Light wallet

Step 1: Log in to your GUI Light Wallet

Step 2: On the user dashboard, click on ‘Receive.’

Step 3: This will reveal your wallet address and QR code. Copy either and send them to the individual sending you IOTA Coins

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

How to send crypto from GUI Light wallet

Step 1: Log in to your GUI Light wallet

Step 2: On your user dashboard, click on ‘Send.’

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

Step 4: Confirm the correctness of these details and hit send.

GUI Light wallet ease of use

GUI Light wallet has one of the easiest and most straightforward onboarding processes. The wallet is easy to navigate and fast in executing crypto transactions. Further, all the important tabs like Send, Receive, and History are neatly arranged and easily accessible on the user dashboard.

Importantly, a recent community-led upgrade to the GUI Light wallet introduced different translations to the wallet. GUI Light wallet is now multi-lingual, supporting more than 15 international languages.

GUI Light wallet supported currencies and countries

GUI Light wallet will only support IOTA coins. And unlike most other crypto-specific wallets that integrate an inbuilt exchange or third party crypto conversion platform, GUI is quite rigid. You first have to convert your crypto or fiat currencies into IOTA on third party exchanges before adding them to your crypto wallet.

GUI Light wallet cost and fees

GUI Light Wallet is free to download, install, and use.  Therefore, you will not be charged to receive or send IOTA coins from your wallet. Instead of the traditional miner and administration fees charged by most blockchain networks, IOTA Network uses proof of work consensus to fund crypto operations. Here, you are required to commit your computational power and approve two previous transactions before you can have your transaction checked and validated.

What are the pros and cons of using GUI Light wallet:

Pros:

  • GUI Light wallet is one of the handful crypto wallets that don’t charge transactions fees on transfers out
  • GUI Light wallet is incorporated into the IOTA blockchain network’s user interface
  • GUI Light wallet is gradually moving towards community-led management and development of the crypto wallet
  • The wallet is non-custodial, and this gives you control over your private keys

Cons:

  • Beginner traders may find GUI Light wallet too complex
  • The IOTA network has been a target of most phishing and hacking schemes that have almost resulted in the loss of tokens and significant downtimes
  • There is no mobile app for the GUI Wallet app
  • The desktop wallet will only support one altcoin – IOTA Coins
  • Comparing GUI Light wallet to other IOTA crypto wallets

GUI Light wallet vs. Nostalgia light wallet

Both GUI Light Wallet and Nostalgia wallet are IOTA specific and will only support IOTA coins. They can also be considered light wallets, as they don’t require you to download the IOTA network full node to your computer. Their differences stem from the fact that while the GUI wallet is incorporated into the IOTA networks user interface, Nostalgia will only work if connected to a full node network that has its Proof of Work feature activated. Moreover, while light wallet is a desktop wallet, Nostalgia is a Google Chrome browser extension.

Verdict: Is GUI Light wallet safe?

GUI Light wallet is highly convenient, easy to use, and inexpensive crypto vault for IOTA Coins. It has also put in place several effective security measures that not only deter unauthorized access but also boost the privacy of your digital assets. These include a multi-character password, building the wallet on open-sourced technology, private keys, and moving towards a community-led development model that guarantees transparency. There are, however, numerous user concerns about the safety of the private keys stored in the crypto wallet, especially after the constant hacks and lack of such handy security measures as two-factor authentication. 

Categories
Cryptocurrencies

BitPie Wallet Review: How Safe Is This Multi-Blockchain Wallet?

On the official Bitpie website, the crypto wallet app is described as an “industry-leading multi-blockchain wallet” devoted to client funds’ safety. Launched in 2015 by Bither – a blockchain technology company – Bitpie markets itself as an easy to use, highly secure, and inclusive crypto platform.

BitPie Mobile Wallet app

On the official Bitpie website, the crypto wallet app is described as an “industry-leading multi-blockchain wallet” devoted to client funds’ safety. Launched in 2015 by Bither – a blockchain technology company – Bitpie markets itself as an easy to use, highly secure, and inclusive crypto platform.

On the official Bitpie website, the crypto wallet app is described as an “industry-leading multi-blockchain wallet” devoted to client funds’ safety. Launched in 2015 by Bither – a blockchain technology company – Bitpie markets itself as an easy to use, highly secure, and inclusive crypto platform.

And in an attempt to live up to these claims, BitPie has embraced a host of security and operational features in the past few years. These include open-sourcing the wallet technology, supporting the widest range of blockchains, integrating a hardware wallet, and establishing a highly intuitive interface.

But have these measures been effective in guaranteeing the crypto wallet’s safety and ease of use? We answer this question and tell you everything you need to know about the BitPie crypto wallet app in this review.

BitPie key features:

Mobile wallet: BitPie is a mobile-only crypto wallet app available for Android and iOS smartphones.

Multi blockchain wallet: BitPie wallet describes itself as the most inclusive crypto vault, adding that it supports the most diverse types of blockchain mainnets in the world. It supports the Ethereum blockchain, Bitcoin blockchain, and its folks, EOS blockchain, and EOS based tokens, as well as all stable currencies.

Built-in exchange: You don’t have to leave the mobile crypto app to buy or exchange cryptocurrencies and tokens. BitPie wallet features an in-built exchange where you can buy and exchange cryptos at highly competitive rates.

Dapp Browser integrated: BitPie wallet app also features a DAPP page that hosts a DAPPs browser and crypto market news section. Here, you have access to real-time market news and all the popular DAPPs in virtually any niche. More importantly, the DAPP page provides you with tools necessary for creating your custom DAPP or crypto token.

Integrates hardware wallets: BitPie developers have also come up with the world’s first wearable hardware wallet referred to as BitHD. It is a wristwatch-like hardware wallet that stores your private keys offline, and you can easily pair to your BitPie mobile wallet app via Bluetooth.

Security and privacy features:

Password: BitPie, like most other app-based crypto wallets, has a multi-character password as its primary defense against unauthorized access.

Military-grade encryption: In addition to limiting the amount of personal data that BitPie can collect about its clients, the wallet is also highly encrypted. The encryption covers all the personal data held in a BitPie wallet, passwords, and private keys.

Non-custodial: BitPie crypto wallet app doesn’t store your cryptocoins on the company servers. Rather, these are highly encrypted and saved on your mobile phone – giving you absolute control over their use. And you can boost this privacy further by linking the BitPie crypto app with the BitPie hardware wallet.

Anti-fraud system: To curb crypto-related frauds and safeguard your private keys, BitPie subjects all its members to such anti-fraud procedures as KYC and AML in line with the set governmental regulations.

Recovery seed: When creating a user account on your BitPie mobile wallet app, you will be presented with a recovery seed. These random phrases come in handy when recovering lost private keys or restoring your wallet on a new smartphone.

How to set up and activate the BitPie Wallet

Step 1: Download the BitPie crypto mobile app from Google Play Store, Apple App Store, or the official BitPie website

Step 2: Install the wallet, and upon launch, click on ‘Create new wallet.’

Step 3: Complete the registration process by entering your email and creating a password

Step 4:  Follow the prompts to complete the verification process

Step 5: The wallet will provide you with a set of words that form the recovery seed. Write it down and keep it safe offline.

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

How to add/receive coins to BitPie Wallet

Step 1: Log in to your BitPie crypto wallet account app, and on the user dashboard, select ‘Receive.’

Step 2: This reveals your wallet’s public address and QR code

Step 3: Copy either of these and forward it to the party sending you cash

Step 4:  Wait for the cryptos to reflect on your account

How to send crypto from BitPie Wallet

Step 1: Log in to your BitPie crypto wallet app, and on your user dashboard, select ‘Send.’

Step 2: If you are holding multiple cryptocurrencies, click on the cryptocoin you wish to send

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

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

BitPie Wallet ease of use

BitPie crypto wallet has a straightforward onboarding process. The app is highly intuitive with easy and straightforward processes for sending and receiving cryptocurrencies. All these play a crucial role in making BitPie one of the most beginner-friendly crypto wallet apps. However, keep in mind that BitPie subjects all its platform users to AML and KYC verification procedures.

BitPie Wallet supported currencies and countries

BitPie mobile app is a multicurrency wallet implying that it supports a wide range of cryptocurrencies, including bitcoin and its folk currencies like Litecoin and Bitcoin Cash, Ethereum and its Ethereum Classic fork as well as all the ERC20 tokens. It also supports EOS altcoin, all the EOS-blockchain-based tokens, and all popular stable coins.

The wallet is also available in 100+ countries across the globe.

BitPie Wallet cost and fees

Downloading and installing the BitPie crypto wallet app is free. Similarly, you won’t be charged for storing your coins here.

However, you will be charged a network fee every time you initiate an outbound transaction to other crypto wallets or exchanges. The fees are nevertheless highly dynamic and let you decide how much you wish to pay for every transaction. Ideally, high transaction fees will always translate to faster transaction processing, while low fees lead to sluggish transaction processing speeds.

BitPie Wallet Customer support

BitPie crypto wallet also has a highly responsive customer support team. Most of the wallet information, including the setup process and common challenges facing BitPie users, is addressed on the website’s announcement section.

Both the BitPie website and crypto wallet app are multi-lingual and available in Mandarin, Japanese, and English.

You can also contact the team directly via email or direct message them via their official social media pages on Facebook, Telegram, Twitter, Reddit, and Weibo.

What are the pros and cons of using BitPie Wallet

Pros:

  • BitPie crypto wallet app is highly intuitive and beginner-friendly
  • The wallet is feature-rich supports a host of premium service, including an inbuilt exchange
  • Through the integrated DAPP browser, you have access to the most popular DAPPs and tools to create your own crypto tokens
  • BitPie has also embraced highly effective security measures that include military-grade encryption and an anti-fraud system
  • The reduce-by-fee transaction pricing model lets you determine the fee and processing speeds for each transaction

Cons:

  • The wallet uses a lot of phone storage and consumes a lot of internet data
  • It is a hot wallet and, therefore, exposed to inherent threats affecting hot wallets
  • Experienced crypto traders may consider BitPie wallet features too basic

Comparing BitPie Wallet to other multicurrency crypto wallets

BitPie Wallet vs. eToro

BitPie and eToro are both multi-blockchain wallets and support different types of blockchain networks. They are also highly intuitive, beginner-friendly, relatively secure, maintain highly responsive customer support, and host inbuilt crypto exchanges.

However, unlike eToro that will only support less than 20 cryptocurrencies, BitPie supports hundreds of cryptocurrencies, tokens, and stable coins. Additionally, while eToro stores private keys in their servers on behalf of clients, BitPie gives you absolute control over your digital assets.

Verdict: Is BitPie Wallet safe?

Well, BitPie has put in place several effective security measures aimed at safeguarding the integrity of your private keys. These include securing your account with a password, encrypting data stored therein, storing your passwords within the mobile device, and providing you with a recovery seed. We must, however, observe that the wallet ignores critical security features like the 2FA. These, plus its relatively low fees and annexed features like an inbuilt exchange, make it suitable for active traders and smallholder crypto investors.

Categories
Cryptocurrencies

MyMonero wallet Review: How Safe Is This Desktop And Mobile Wallet App?

MyMonero is a lightweight desktop and iOS app wallet developed by Monero Project steward, Riccardo Spagni, and the Monero Core Team. It was launched in 2014 as an alternative to Monero GUI – the full node client for Monero blockchain. And it seeks to address some of the challenges faced by Monero GUI users, including slow transaction processing speeds, extended wallet startup times, and drag on your computer memory, storage, and battery life.

mymonero crypto wallet app

MyMonero is a lightweight desktop and iOS app wallet developed by Monero Project steward, Riccardo Spagni, and the Monero Core Team. It was launched in 2014 as an alternative to Monero GUI – the full node client for Monero blockchain. And it seeks to address some of the challenges faced by Monero GUI users, including slow transaction processing speeds, extended wallet startup times, and drag on your computer memory, storage, and battery life.

MyMonero is a lightweight desktop and iOS app wallet developed by Monero Project steward, Riccardo Spagni, and the Monero Core Team. It was launched in 2014 as an alternative to Monero GUI – the full node client for Monero blockchain. And it seeks to address some of the challenges faced by Monero GUI users, including slow transaction processing speeds, extended wallet startup times, and drag on your computer memory, storage, and battery life.

On the MyMonero website, this desktop and mobile app wallet is described as the “Sweet spot between convenience, security, and features.” The website further adds that its development team has “Ironed out the technical details … so you can get back to business” by prioritizing the crypto wallet’s design.

But has MyMonero lived up to its expectations when it comes to balancing the ease of use with security and privacy? We answer this question and more in this MyMonero review.

MyMonero key features

Cross-platform support: MyMonero is a highly versatile crypto wallet that is compatible with multiple operating systems. Unlike the traditional Monero GUI that was only available as a desktop client, MyMonero is available as a web wallet, desktop app (Linux, Windows, and macOS compatible), and iOS mobile app.

Lightweight: MyMonero crypto wallet is also extremely light as it offloads all the heavy work to the MyMonero servers. This implies that you no longer have to download the Monero blockchain that drains its storage and RAM while eating into the battery life of your phone or computer.

Synchronized cross-platform experience: One of MyMonero wallet’s unique features is its cross-platform synchronization experience. This implies that you can easily get access to your wallet account, view transaction history and balances on any device. You only need the seed words to login to your wallet via any device.

Smart contacts management tool: MyMonero has an inbuilt Rolodex that helps you keep track of your private addresses, payment IDs, and OpenAlis addresses. You can also use smart Rolodex to manage your wallet contacts.

Speedy transfers: One of the benefits of MyMonero wallet’s lightweight nature is its speedy startup and fast transaction processing capabilities. You no longer have to wait, hours on end, for the full node client to sync with your wallet to initiate a Monero transaction.

MyMonero Security and privacy features

Password: Like any crypto wallet, MYMonero is secured with a password. The user sets this multi-character password during app installation and when registering a wallet account. It serves to protect your wallet from authorized attacks and also doubles up as an encryption tool.

Non-custodial: While MyMonero wallet servers run virtually all the wallet transactions, it won’t store your private keys. These are stored within the computer or mobile devices, giving you total control over your digital assets.

Strong encryption: All the data held in a MyMonero wallet is highly encrypted, especially the private keys and wallet communications with project servers and other third-party systems.

Native privacy: Monero takes pride in being one of the safest and most private blockchain networks around. MyMonero has taken this a step further and promotes anonymous crypto transactions by ensuring that the wallet doesn’t ask for any of your personally-identifiable details like name, address, or email. It also doesn’t keep logs for your crypto transactions, location, or device IP address. This approach to privacy beats the rudimental privacy systems put in place by some popular crypto wallets.

Open sourced: MyMonero wallet is also built on an open-sourced technology. Its users and blockchain security experts can view, audit, and recommend adjustments to the wallet app from its GitHub wallet repository.

How to set up and activate the MyMonero wallet

Step 1: Open the MyMonero official website and download the web wallet that is compatible with your device’s operating system

Step 2: Install and launch the wallet app to start the registration process

Step 3: Note that the app doesn’t ask for registration details. Rather, it will provide you with a private login key made up of 12 random phrases that double up as the wallet’s recovery seed and request that you set a password.

(Note: Write this private login key down on a physical piece of paper and keep it safe. You will not only need it to access the wallet on different devices, but it will also be needed when recovering lost private keys)

Step 4: Confirm that you have correctly written down the private login key by reentering it on the prompt tab

Step 5: Chose your preferred language and login to your MyMonero wallet

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

How to add/receive coins to MyMonero wallet

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

Step 2: Copy the wallet’s public address or the QR code and forward either to the party sending you the Monero cryptos

Step 3: Wait for the coins to reflect on your wallet

How to send crypto from MyMonero wallet

Step 1: Log in to your MyMonero wallet and click the ‘Send’ tab on the user dashboard

Step 2: On the popup window, enter the recipient’s wallet address and amount of XMR you wish to send

Step 3: Enter the payment ID (This helps differentiate your transaction from others and is especially important when sending cryptos to an exchange)

Step 4: Set the privacy level for your transactions, from minimum to high or Paranoid (Monero pushes private transactions by bundling several transactions together and making it impossible to track either one to your crypto wallet. The ring size, presented as “With # others,” refers to the number of transactions bundled alongside yours).

Step 5: Confirm the correctness of the transaction details and hit send

MyMonero wallet ease of use

Downloading and installing the MyMonero wallet app or registering a user account on the MyMonero web wallet is easy. It also features a highly intuitive and beginner-friendly user interface. The user dashboard is also multi-lingual, easily navigable, and only features the most important aspects of the wallet. The process of sending and receiving cryptos into MyMonero wallet is equally easy and straightforward.

MyMonero wallet supported currencies.

MyMonero wallet will only support Monero (XMR)  altcoins.

MyMonero wallet cost and fees

Downloading and installing the MyMonero wallet is free, and so is storing your XMR altcoins in the wallet. However, you will be charged a transaction fee every time you send XMR coins to another wallet or exchange. Ideally, there are two types of fees acting on an XMR transaction.

First, is the tax charged based on the amount of data it takes to complete the transaction. It is measured in Kilobytes and is charged at 0.002XMRs per KB. Second is the miner’s fee, which is approximately 50% of the transaction cost.

What are the pros and cons of using MyMonero wallet

Pros:

  • MyMonero is a light wallet that doesn’t require you to download the full node blockchain
  • MyMonero is private and highly encrypted to guarantee the privacy of your digital assets
  • The wallet has one of the most interactive and beginner-friendly user interfaces
  • The wallet is also relatively inexpensive
  • It allows for anonymous registration and facilitates private crypto transactions

Cons:

  • MyMonero will only support XRM cryptocurrencies
  • It is an online wallet and still susceptible to the inherent risks facing hot wallets
  • The wallet doesn’t support multi-signature functionality
  • Comparing MyMonero wallet to other Eth-based crypto wallets

MyMonero wallet vs. Monero GUI

MyMonero desktop wallet can be best described as the stripped-down version of the Monero GUI. The two are almost identical in that they have similar roles in storing XRM coins and facilitating Monero transactions. The only difference between the two is that Monero GUI is a full node desktop client, while MyMonero is a light desktop app. These make MyWallet relatively easier to use and faster compared to Monero GUI.

Verdict: Is MyMonero wallet safe?

Well, MyMonero embraces the privacy-oriented nature of the Monero blockchain in the execution of its functions. It will not ask for the client’s personal data, nor collect or keep logs of your crypto activity. Additionally, any information stored within the open-sourced wallet is highly encrypted. These features have made MyMonero one of the most secure and one of the most private crypto wallets. However, we must observe that, though it is non-custodial, MyMonero is still online-based and, therefore, exposed to the inherent risks facing hot wallets. 

Categories
Cryptocurrencies

Monerujo wallet Review: What Makes This Android Crypto Wallet App Unique?

Monerujo, the android wallet for Monero, is considered the first-ever open-sourced mobile app that Monero altcoin users can rely on to store and manage their XRM altcoins. And while it is not the official Monero smartphone app, it has been developed by Monero community experts. It also features prominently on the list of best wallet apps recommended by the Monero network developers.

Monerujo wallet app

Monerujo, the android wallet for Monero, is considered the first-ever open-sourced mobile app that Monero altcoin users can rely on to store and manage their XRM altcoins. And while it is not the official Monero smartphone app, it has been developed by Monero community experts. It also features prominently on the list of best wallet apps recommended by the Monero network developers.

Monerujo, the android wallet for Monero, is considered the first-ever open-sourced mobile app that Monero altcoin users can rely on to store and manage their XRM altcoins. And while it is not the official Monero smartphone app, it has been developed by Monero community experts. It also features prominently on the list of best wallet apps recommended by the Monero network developers.

But how safe is this Android-only mobile wallet app? We seek to answer this question and tell you everything you need to know about the Monerujo wallet in this review. We will look at its key operational features, security measures in place, and ease of use. Additionally, we will provide you with a step-by-step guide on setting up, sending, or receiving XRM coins to your Monerujo wallet.

Monerujo key features:

Multi-account support: Monerujo is a multi-account crypto wallet. This implies that there is no limit to the number of user accounts and wallets addresses that you can create and host on the Monerujo wallet. More importantly, there is no limit to the number of XRM coins you can store in a Monerujo wallet.

Pay BTC addresses: You don’t have to leave your wallet or engage in lengthy and time-consuming XRM-BTC conversions to make payments on a BTC store. Monerujo currently allows you to pay into a Bitcoin address directly, without going through a crypto exchange.

Lightweight wallet app: Monerujo is a light wallet that doesn’t require you to download the full node blockchain into your phone. Rather, the wallet app uses remote nodes to synchronize the app functions with the Monero Blockchain. This ensures that the crypto wallet app doesn’t drain your phone’s storage, RAM, or battery life.

Integrates hardware wallet: Monerujo is a Monero-only wallet, but to expand the scope of the number of supported cryptos as well as its security features. Currently, Monerujo integrates Ledger Nano S that, in turn, supports over 1000 cryptocurrencies and tokens.

Security and privacy features:

Password encryption: Like most other crypto wallet apps, Monerujo is secured with a password that you set when installing and creating a user account. The password also serves as a security tool that is used by the wallet to encrypt all the user data stored therein – including private keys.

Open sourced: Monejuro is an open-sourced and community-led crypto project. Its source code is available on GitHub and is open for viewership, auditing, and critique by its users and the crypto community. This makes Monejuro one of the most transparent crypto wallet apps.

F-droid privacy: The Monero network and XRM coins take pride in guaranteeing your transactions’ security and transparency. And to achieve this and avoid leaving digital footprints when you download the wallet app from your Gmail-linked Google Play Store, Monejuro is now available on the ultra-private F-Droid app repository.

Hierarchically deterministic: The Monejuro crypto wallet app is also hierarchically deterministic. This implies that every time you initiate a crypto transaction, the wallet auto-generates a new public address, effectively masking your real address and throwing-off any would-be crypto trackers.

Non-custodial: Monejuro doesn’t store your private keys within the Monero Foundation servers. Instead, these are encrypted and stored within your smartphone, giving you absolute control over your private keys.

Recovery seed: When installing the crypto wallet app and creating a user account, you will be provided with a series of random phrases that form your recovery seed. The seed comes in handy when you are looking to recover private keys from a lost wallet.

How to set up and activate the Monerujo wallet

Step 1: Download the Monejuro crypto wallet app from Monejuro official website, Google Play Store GitHub, or the F-Droid mobile app repository.

Step 2: Install and launch the app. Click on ‘Create New Wallet’

Step 3: Create a unique username for the wallet

Step 4: Create a password for your wallet

Step 5: Click on ‘Make Me A Wallet Already’ to authorize the wallet to generate public and private wallet addresses.

Step 6: The phone screen will now display all the important wallet information, including its Public address, view key, and Spend key, wallet restore key and a mnemonic seed that comprises 25 random words. Write these words down and keep them safe offline.

Step 7: Click on the “I Have Noted The Mnemonic Seed” to complete the setup and access your wallet’s user dashboard.

How to add/receive coins to Monerujo wallet

Step 1: Log in to your Monerujo wallet, and on the user, dashboard click on the green ‘Receive’ button

Step 2: The wallet will display both the wallet address and QR code, copy either and forward and to the party sending you XRMs

Step 3: Wait for the funds to reflect in your wallet – may take up to 20 minutes.

How to send crypto from Monerujo wallet

Step 1: Log in to your Monerujo wallet app and click on the Orange ‘Give’ button

Step 2: The app will display a transaction page where you can enter the recipient’s wallet address, Payment ID (optional) and private note (optional)

Step 3: Enter the number of coins you wish to send. This can be expressed in the form of XRM altcoins or any of the supported fiat currencies.

Step 4: Check the accuracy of the transaction details and hit ‘Confirm.’

Monerujo wallet ease of use

Monerujo’s crypto wallet’s onboarding process is relatively straightforward. It doesn’t request personal information from the user when creating a wallet. The user dashboard is also easily navigable, and so is the process of sending and receiving XRMs into the wallet.

Monerujo wallet supported currencies and countries.

Monerujo is a Monero-first crypto wallet that is specially designed to store and help manage XRM coins. It, therefore, will only support Monero cryptocurrency.

Monerujo wallet cost and fees

Downloading and installing the Monerujo crypto wallet app is free. Plus, the wallet does not charge you for storing your Monero altcoins therein.

You will, however, be charged Monero network fees every time you initiate a transfer out. This fee is typically influenced by the level of anonymity you want to achieve with the transaction (the Ring Size) and the transaction processing speed. Typically, large ring size and high transaction priority levels translate to higher transaction fees and vice versa.

Monerujo wallet Customer support

Monerujo has a readily available and highly responsive customer support team. In addition, you can contact them by raising a support ticket on the Monejuro wallet website, sending them an email, or interacting with the development team via their respective handles on such social media platforms as Reddit, Telegram, or Twitter.

What are the pros and cons of using Monerujo wallet

Pros:

  • The open-sourced nature of the Monerujo crypto wallet guarantees maximum security and transparency.
  • Monerujo doesn’t collect or store any information that may be personally identifiable to you.
  • It is highly versatile and makes it possible to pay a Bitcoin address directly from a Monero wallet.
  • It is highly convenient as it is accessible on mobile platforms.

Cons:

  • Monerujo is Android only crypto wallet app
  • It will only support money crypto coins
  • It is unregulated

Comparing Monerujo wallet to other Monero specific wallets

Monerujo wallet vs. MyMonero

Monerujo and MyMonero are both lightweight wallets, specially designed to store Monero cryptocurrencies. They are to the extent that they will only support Monero altcoins, allow for anonymous user registration and transaction processing, and allow you to set the transaction fee.

But while Monerujo is an online-only wallet app, MyMonero is a cross-platform vault available as a web-wallet, desktop app, and iOS app. Monero, however, carries the day when it comes to compatibility with hardware wallets as it integrates ledger Nano S and its ability to pay into bitcoin addresses directly.

Verdict: Is the Monerujo wallet safe?

Well, Monerujo has embraced premium security and anonymity measures aimed at keeping your digital assets. For instance, it facilitates the execution of anonymous crypto transactions. It doesn’t collect or keep logs of a user’s private information. It is highly encrypted and also built on open-sourced technology.

These features, plus the fact that you can download the app on the highly anonymous F-Droid repository, make Monerujo one of the most secure crypto wallet apps. However, we must mention that being an online-based wallet, Monerujo is exposed to common challenges facing hot wallets – like phishing and hacking – especially since it doesn’t support 2FA. 

Categories
Cryptocurrencies

Enjin Wallet In-Depth Review: Key Features, Security, Pros andCons

Enjin smart wallet comes off as one of the safest and most convenient mobile-app based crypto wallet. It is easy to use on both Android and iOS devices and incorporates a wide range of operational and security features, including a secure keyboard, a built-in exchange, and two layers of cryptography (rule-of-two-encryption). What’s more, it supports a wide range of cryptocurrencies and tokens.

Enjin smart wallet comes off as one of the safest and most convenient mobile-app based crypto wallet. It is easy to use on both Android and iOS devices and incorporates a wide range of operational and security features, including a secure keyboard, a built-in exchange, and two layers of cryptography (rule-of-two-encryption). What’s more, it supports a wide range of cryptocurrencies and tokens.

Enjin smart wallet comes off as one of the safest and most convenient mobile-app based crypto wallet. It is easy to use on both Android and iOS devices and incorporates a wide range of operational and security features, including a secure keyboard, a built-in exchange, and two layers of cryptography (rule-of-two-encryption). What’s more, it supports a wide range of cryptocurrencies and tokens.

In this Enjin Smart wallet review, we detail everything you need to know about the mobile-based wallet. We highlight its most prominent operational features and look into details of the factors making it one of the most secure wallets. We’ll also tell you of the supported cryptocurrencies and tokens, its pros and cons, and provide you with a step by step guide on how it works.

We start by looking at its key features:

Key Features

Secure Keyboard:

Enjin Smart wallet features a proprietary keyboard that is specially designed to shield your data from sniffers and keyboard keyloggers. It has the key randomization option that provides you with the ultimate level of input protection.

QR Scanner:

In addition to the randomized and highly secure inbuilt keyboard, you can use the QR Scanner to communicate with different exchanges and wallets when sending and receiving digital assets.

Crypto wallet trackers:

The crypto wallet mobile app gives you the ability to monitor your Bitcoin, Ethereum, and Litecoin addresses. This allows you to monitor their transactions in real-time.

Add custom tokens:

Enjin smart wallet doesn’t just support the ERC-20, ERC-721, and ERC-1125 tokens. It also gives you the ability to create and launch your custom tokens.

Create multiple wallet addresses:

There is no limit to the number of wallet addresses you can create on this platform, and neither is there a limit to the number of coins you can store in these wallets. The coin, therefore, gives you the ability to create multiple wallet addresses for different coins and tokens.

Budget for your crypto assets:

Unlike most crypto wallets that only have one vault for all your digital assets, Enjin Smart wallet lets you create multiple vaults. You can, for instance, create a Savings, Business, and Trading vault and split your crypto assets into these different allotments.

Samsung Blockchain Keystore support:

Enjin is specially designed to support the Samsung Blockchain feature for private keys protection.

Custom libraries:

Its libraries are designed with a feature that enables the removal of private keys from the device immediately after use. 

Enjin wallet security features:

i) One-touch fingerprint login: Enjin Smart Wallet can be secured by a unique multi-character password or a fingerprint. The fingerprint protection especially comes in handy in further eliminating possible password leaks and giving the wallet user absolute control over their wallet.

ii) Two-layer encryption: The mobile crypto wallet employs two layers of encryption in protecting the data stored within the wallet and keep your private keys confidential. 256 AES encryption covers the hardware while software encryption techniques are applied to the wallet’s application layer.

iii) Recovery phrase: When installing and activating the Enjin Smart wallet, it will provide you with a 12-word recovery seed. Record these phrases on a piece of paper and keep it safe. You will need it to regain access to your wallet should you forget the password and also recover private keys should you lose access to your mobile phone.

iv) RAM encryption: According to Enjin smart wallet developers, all of the important data is processed by and stored on a secure RAM. They further state that this RAM limits the amount of sensitive data stored in here and that this data is highly encrypted.

How to set up the Enjin crypto wallet app

Setting up your Enjin wallet on your mobile device is easy and straightforward. Here is a detailed insight on how to go about it:

Step 1: Download and install the Enjin Smart Wallet app: Depending on the type of operating system you are using, the first step is to search the Enjin wallet on Play Store or iTunes. Download the application and click on the “install” button. Once the installation is complete, click on the “open” button to launch the app.

Step 2: Create a new wallet: You will be provided with two options. You can either create a new wallet or restore your previously backed up wallet.

Since we are creating a new wallet, choose on the ‘Create New’ and click the “next step” button.

Step 3: Create and confirm password: Create a unique multi-character website for your wallet app.

Step 4: Recovery phrase backup: You will then be provided with a 12-word recovery phrase that will be used to restore your wallet when you lose or forget your password. The best way to backup these phrases is to write them on a piece of paper and keep them in a safe or any other highly secure environment.

Step 5: Create wallet addresses: The wallet is now set and you can proceed to create wallet addresses for the different crypto assets. You can also create different vaults and allocate them pieces of your digital assets for different purposes.

Step 6: Start trading: Your Enjin wallet is set and you can now start receiving, exchanging, and sending cryptocurrencies or customizing your own tokens.

How to send cash using an Enjin smart wallet

Step 1: Start by launching your Enjin crypto wallet

Step 2: Click on the cryptocurrency or token you wish to send. The app will display a wallet address input section as well as the option for scanning the receiver’s wallet QR Code. Chose one.

Step 3: Enter the amount of coins/tokens you wish to send

Step 4: Confirm that the details entered (wallet address and crypto amounts) are correct and hit send

How to receive funds into your Enjin smart wallet

Step 1: Start by launching the Enjin Smart crypto wallet app

Step 2: Tap on the ‘Receive’ icon and proceed to click on the cryptocurrency/token you wish to receive. The app will display the crypto’s wallet address as well as its QR code.

Step 3: Copy the wallet address and forward it to the parties from whom you wish to receive the coins or have them scan your QR Code.

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

Enjin wallet’s supported currencies

The Enjin smart crypto wallet is highly versatile and currently supports over 700 cryptocurrencies and tokens. These include the all-popular crypto coins like Bitcoin, Bitcoin Cash, Ethereum, Litecoin, Ripple, and the Enjin Coin.

The wallet also holds multiple variations of the Ethereum based tokens including all the ERC-20, ERC-721, ERC-233, and ERC-1155 tokens. Its also one of the few crypto wallets that lets you leverage their inbuilt-exchange and support for Ethereum based tokens to help you customize and launch your own token.

Enjin smart wallet cost and fees

Enjin smart crypto wallet doesn’t charge you when you download, install, or store cryptocurrencies/tokens on their wallet. You will, however, be charged variable transaction fees when you send/receive funds into your wallet. These charges are usually imposed by blockchain networks and are collected by miners and network administrators, not the Enjin wallet developers.

How much you pay per transaction is largely dependent on such factors as your preferred crypto as well as the number of coins transferred.

Enjin Crypto wallet ease of use

Enjin crypto wallet app features a smart user interface that makes it one of the most user-friendly wallet apps. According to Enjin, the smart UI features turns your phone into a hardware-like wallet by giving you full control over your private keys while offering a number of important security features.

Enjin smart wallet app customer support

Enjin wallet has an elaborative and readily available customer support team. Their multi-lingual website (currently available in four international languages) is, for instance, awash with different resource materials aimed at helping address common user concerns. The wallet maintains a regularly updated blog that not only covers hot financial and crypto industry news but also updates about the wallet.

This is, also the Enjin forum where wallet users get to interact with the developers and other users. Here they can have their challenges and queries addressed by either the Enjin wallet developers or expert wallet users.

More sensitive queries can be addressed directly to the Enjin customer support team by raising a support ticket on their ‘Contact Us’ page. You can also send them an email via [email protected] or engage them on their official social media handles on such platforms as Instagram, Facebook, Twitter, Telegram, Reddit, and LinkedIn.

Comparing the Enjin crypto wallet app with other wallets

Compared to other crypto wallet apps like Mycelium, Enjin smart crypto wallet carries the day when it comes to the employed security measures. It, for instance, combines military-grade encryption with biometrics in further boosting the confidentiality of your private keys. It also has more operational features like the inbuilt exchange/marketplace, support for decentralized apps and browsers, and the integration of the ERC-1155 protocol that lets the user create and issue customized tokens.

Enjin smart wallet app security features, however, are pale in the face of the more secure hardware wallets. For instance, while the data contained therein may be highly encrypted, it still is a hot wallet and this exposes it to possible hacking and malicious malware threats. Unlike most hardware wallets that can hold thousands of cryptocurrencies and tokens, Enjin can only hold a maximum of 700 cryptos. The only advantage Enjin crypto has over such hardware wallets Trezor or Ledger Nano is that it is free.

Everything else you need to know about Enjin smart crypto wallet

Enjin is also more than a wallet as it also features an easy to use inbuilt-exchange and a crypto marketplace. The wallet integrates the all-popular Enjin social gaming network and the Enjin marketplace where players can buy or exchange different video games and in-game items for crypto and tokens.

The Enjin wallet also features one of the most interesting and easy to use Decentralized App web browsers. It has a friendly and easy-to-interact-with user-interface. It allows you access to leading crypto exchanges, financial news, online games, and even social media.

In addition to supporting the popular ERC-20 and ERC-721 tokens, Enjin developers introduced the ERC-1155 protocol. This allows you to create highly customized tokens and token collectibles that you can trade on the Enjin exchange, store on the Enjin wallet, and exchange for online games or in-game items within the Enjin Marketplace.  All these are accessible via the Enjin smart wallet app.

Enjin does not store fiat currencies and neither does it support fiat-to-crypto conversions. The smart crypto wallet has, however, partnered with some of the most popular fiat-to-crypto conversion platforms like Changelly, Simplex, Bancor, and Kyber. These make it possible for you to swap cash for cryptocurrencies and tokens that you can then use to trade or exchange via the Enjin smart crypto wallet.

What are the pros and cons of the Enjin crypto wallet

Pros

  • Employs a wide range of security features – including encryption and Biometric access
  • Both the crypto wallet app and Enjin website are multi-lingual
  • High user ratings on both Android and iOS app stores
  • Supports a relatively wide range of cryptocurrencies and tokens
  • The Enjin wallet app features a highly intuitive user interface

Cons

  • Mobile wallets are prone to online attacks as compared to hardware wallets
  • It is not open source and, therefore, not adequately vetted
  • Doesn’t support fiat-to-crypto conversions

Final Verdict: Is the Enjin wallet app safe?

Well, Enjin smart wallet app has embraced several security protocols that make it one of the safest crypto apps around. It, for instance, employs the two-layer encryption for the private keys and personal data stored within the app and uses a multi-character password and biometrics to secure the wallet.

Other factors that make Enjin smart wallet app the most effective mobile wallet include the fact that it integrates such features as an inbuilt-exchange and marketplace, decentralized apps, and browsers, supports 700+ cryptocoins and tokens and makes it possible for you to create and launch a custom ERC-1155 token.

Categories
Cryptocurrencies

eToro Wallet Review: How It Works, Key Features, & Supported Currencies

eToro is one of the safest and most popular cryptocurrency wallets. It is availed freely to all eToro trading account holders and is specially designed to hold several crypto coins. It also facilitates the transfer or redemption of crypto coins on different crypto trading platforms and exchanges. Some of the key factors contributing to its rich reputation include its exceptional security, sophisticated design that supports multiple cryptocurrencies, its highly competitive charges, and the fact that that it has the backing of the most reputable online trading platform.

eToro is one of the safest and most popular cryptocurrency wallets. It is availed freely to all eToro trading account holders and is specially designed to hold several crypto coins. It also facilitates the transfer or redemption of crypto coins on different crypto trading platforms and exchanges. Some of the key factors contributing to its rich reputation include its exceptional security, sophisticated design that supports multiple cryptocurrencies, its highly competitive charges, and the fact that that it has the backing of the most reputable online trading platform.

eToro is one of the safest and most popular cryptocurrency wallets. It is availed freely to all eToro trading account holders and is specially designed to hold several crypto coins. It also facilitates the transfer or redemption of crypto coins on different crypto trading platforms and exchanges. Some of the key factors contributing to its rich reputation include its exceptional security, sophisticated design that supports multiple cryptocurrencies, its highly competitive charges, and the fact that that it has the backing of the most reputable online trading platform.

In this eToro wallet review, we will be detailing these factors and highlighting more that make this wallet unique. We will explore the security measures that the online crypto wallet has put in place, provide you with a step-by-step guide on how to interact with the wallet, and compare its efficiency with that of leading hardware and software wallets.

Here is everything you need to know about the eToro crypto wallet:

Key Features

OS compatibility: eToro mobile wallet is highly versatile and compatible with multiple operating systems including Android and iOS.

Multicurrency support: The eToro online wallet supports 100+ cryptocurrencies and tokens. These include the all-popular crypto coins like Bitcoin (BTC), Ethereum (ETH), Bitcoin Cash (BTCH), Litecoin (LTC), and the ERC-20 Tokens.

Multi-lingual support: eToro is a global brand and both their trading platforms and crypto wallets are available to individuals in 100+ countries across the world. Both the website and wallet are also available in over 20 international languages.

Inbuilt exchange: While the eToro wallet doesn’t let you send cryptocurrencies to the eToro trading platform, it features an inbuilt-exchange. This Allows any eToro wallet user to convert one crypto for another without going through the eToro trading platform. It also makes it possible for you to easily receive or send cryptocurrencies to other wallets and crypto exchanges.

Payment cards integration: You can also link the eToro wallet with either your debit or credit cards. This means that you can buy cryptos or withdraw earnings directly to your debit/credit card.

Easy to use wallet: eToro mobile is also easy to use. For instance, the wallet has a relatively straightforward onboarding process. The process of sending and receiving coins into the wallet is also easy.

A large number of trading pairs: In addition to the more than 120 cryptocurrencies and tokens supported by the eToro and its inbuilt exchange, the mobile wallet users are exposed to more than 500 crypto trading pairs.

eToro Security Features

Password: Like most crypto wallets, the eToro wallet app has a password as its primary security measure. You set this unique multi-character password when installing the mobile app.

Two-factor authentication: This security feature provides an added layer of safety by tying your crypto wallet to your phone number, effectively eliminating the possibility of remote hackers gaining access to your digital assets. The two-step verification becomes necessary when logging into the wallet and when transferring crypto to other wallets or exchanges.

High-grade encryption: eToro has introduced the high-grade encryption used on its trading platform to the eToro mobile wallets. Here, the crypto wallet employs different levels of encryption that cover every aspect of the mobile wallet, from the storage of private keys to the wallet’s communications with third parties service providers including payment processing platforms like debit card and credit card companies.

No access to your private keys: eToro doesn’t give you access to your private keys. Rather, it stores them in an encrypted format within the wallet addresses. This further minimizes the chances of unauthorized persona gaining access to your digital assets.

Password recovery: When installing and activating your eToro wallet, you will be provided with a unique and private recovery key. You will need it to recover your private keys should you forget your wallet password or lose the mobile device holding your wallet.

On-Chain address: In addition to keeping the private keys on your behalf, the eToro crypto wallet creates a unique and private on-chain address for you. This is unique, and allows you to send, receive, and store your digital assets anywhere on the blockchain.

Setup and Configuration

Setting up your eToro wallet account is easy and straightforward. And it starts with downloading the free mobile wallet app and registering a new account. We have broken down this registration process. Here’s a step-by-step guide on how to go about it:

Step 1: Download and install the mobile wallet app

You can download the eToro mobile app for free from the official eToro website, Google Play Store (Android version), or App Store (iOS version).

Step 2: Create an account

Creating an account is quite easy. You only need to click on “join” at the top left-hand corner of the page and follow the prompts. Here, you will be required to enter a valid email address, password, and country of residence. Ensure you tick that you have read the terms and conditions before proceeding to the next step.

Step 3: Account verification

eToro clients are subjected to the standard KYC and AML protocols. First, the eToro Wallet team will send you a confirmation email where you need to verify your email. Next, you will be required to verify identity. It starts with an extended registration form that captures such personal details as your name, date of birth, physical address, and mobile phone number.

You then have to verify these details by providing the team with a photo of a government-issued identification document (ID/passport/driving license).

According to eToro, these are verified manually to ensure that only legitimate crypto traders have access to trading wallets, which goes a long way in curbing fraudulent crypto activities as well as eliminating cases of scams.

Step 4: Activate the app and start trading

Once verified, the app directs you to the user dashboard. Start depositing cash, buying, and selling crypto.

How to send cryptocurrencies to another wallet 

Step 1: Log into your eToro wallet via iOS or Android mobile application.

Step 2: Click on balance and select the cryptocurrency you wish to send.

Step 3: Select “Send” and enter the amount you would like to send as well as the recipient’s public address. Here, you have the option of keying in the wallet address or scanning their QR code.

Step 4: Confirm that the recipient’s address is correct and click “send.”

Step 5: You should receive an SMS with a verification code. Copy the code and click on “verify” to complete your transaction.

Step 6: You can check the status of your transaction by clicking on the “transactions” screen.

How to receive currencies from another wallet

Step 1: Start by logging into your eToro mobile wallet

Step 2: Head over to the “Balance” section and click on the digital currency you wish to receive.

Step 3: The app displays the wallet address corresponding to that coin. Copy and forward it to the parties from whom you wish to receive the cryptos.

Supported currencies

eToro operates in over 100 countries and supports over 120 different currencies and tokens. Some of the most popular ones include:

  • Litecoin (LTC)
  • Ethereum (ETH)
  • Bitcoin (BTC)
  • Stellar (XLM)
  • Tether (USDT)
  • Ox (ZRX)
  • Bitcoin Cash (BCH)

You can interact with the above currencies in crypto casinos such as Zet, True Flip, and CasinoFair.

eToro mobile wallet fees

eToro doesn’t charge you for downloading and installing their crypto mobile app. Neither do they charge subscription fees for using it. You will, however, be charged transaction fees every time you transfer cryptocurrencies out to other wallets and crypto exchanges.

This transaction fee varies based on such factors as the crypto coin involved and the amount of crypto transferred. Note that these blockchain fees aren’t imposed by eToro but by the individual cryptocurrency networks in which they are transfered, and collected by the blockchain miners responsible for verifying the different crypto transactions.

Your credit and debit card providers will also charge payment processing fees every time you buy crypto directly using a debit or credit card.

Additionally, eToro maintains Fiat-to-crypto conversion limits whereby a single transaction must have a minimum value of $125 and not exceeding $10,000. Further, verified retail crypto traders can only convert a maximum of $20,000 per day and a maximum of $50,000 per month. The crypto-to-crypto exchange limits, on the other hand, are set at $50,000 (crypto equivalent) per transaction and $200,000 (crypto equivalent) per day.

eToro wallet will also charge a 0.1% fee for in-app crypto-to-crypto conversions with the conversion rates set based on the market rates. Note also that the direct crypto purchase via debit/credit cards is yet to roll out worldwide and you might, therefore, (based on your country of residence) be forced to use third-party platforms like Simplex for your fiat-to-crypto conversions that charge a standard fee of 4% of the transaction amounts.

How does eToro compare with other wallets?

eToro wallet vs CoolWallet S

Besides the fact that both are mobile cryptocurrency wallets, CoolWallet S is a bit expensive. It retails at around $99. However, its high price might be because it is a mobile hardware wallet. And while they both are considered relatively safe, CoolWallet S boasts several premium security features – including the recovery seed. eToro on the other hand upbeats CoolWallet S in the number of supported currencies. eToro gives its wallet holders access to over 120 cryptocurrencies while CoolWallet Swallet only features 22 crypto coins.

eToro wallet vs. Ledger Nano S

Ledger Nano S is one of the most popular and one of the safest crypto hardware wallets. It can hold 1,000+ cryptocurrencies and tokens compared to the eToro wallet’s 120. It also features more security features including the storage of private keys in an offline environment. But while eToro mobile wallet is free, Ledger Nano S currently retails at $59 (exclusive of tax and shipping fees). Ledger Nano S also gives you absolute control over your coins. eToro’s inbuilt exchange and support for direct crypto purchases via debit and credit cards, however, make the crypto mobile app more versatile.

Customer Support

eToro mobile wallet’s customer supports start with their highly elaborative FAQs page on their website. It highlights and provides solutions to all the common challenges faced by different users when interacting with the crypto wallet app.

There are also several avenues through which eToro wallet users can request and access customer support. You can start by raising a support ticket on the website’s Help Center. Additionally, you may raise your queries by messaging eToro wallet support through such social media pages as Twitter, Facebook, and Telegram.

Pros and Cons of eToro Wallet

Pros

  • Easy-to-use and is suitable for new and expert traders
  • Has a trusted reputation for security and reliability
  • Supports fiat currencies and fiat-to-crypto conversions
  • Popular currencies include Ethereum, Bitcoin, and Litecoin
  • No need to memorize public and private keys

Cons

  • Can only be used on mobile devices
  • One may consider the number of cryptocurrencies and crypto pairs supported by eToro mobile wallet limited
  • eToro crypto wallet app is not available to US residents

Final Verdict: Is eToro Wallet safe?

eToro crypto wallet app has taken adequate security measures aimed at keeping their client’s digital assets safe. These include an optional 2-factor verification protocol, high-grade encryption of all the app’s communications with other wallets and third-party service providers as well as control over access to the private keys.

Other factors that may endear it to most users include the fact that it is free, allows for direct crypto purchases via credit/debit cards, and its ease of use. The only downside to the mobile crypto wallet is that the mobile wallet app has no desktop app alternatives.

Categories
Cryptocurrencies

Cobo Vault Review: Is It The Safest Hardware Crypto Wallet Ever Designed?

Cobo Vault is arguably one of the most secure hardware wallets currently available. Created by blockchain expert Lixin Liu, Cobo Vault features a host of premium security features that give it an edge over the competition. These include open sourcing its software, disabling wireless connections to the wallet, and enclosing it in a military-grade casing that’s both water and shock-proof. According to Liu, the device that’s dedicated to the Western Markets was designed with the aim of providing the safest, yet easy to use, hardware wallet.

Cobo Vault is arguably one of the most secure hardware wallets currently available. Created by blockchain expert Lixin Liu, Cobo Vault features a host of premium security features that give it an edge over the competition. These include open sourcing its software, disabling wireless connections to the wallet, and enclosing it in a military-grade casing that’s both water and shock-proof. According to Liu, the device that’s dedicated to the Western Markets was designed with the aim of providing the safest, yet easy to use, hardware wallet.

Cobo Vault is arguably one of the most secure hardware wallets currently available. Created by blockchain expert Lixin Liu, Cobo Vault features a host of premium security features that give it an edge over the competition. These include open sourcing its software, disabling wireless connections to the wallet, and enclosing it in a military-grade casing that’s both water and shock-proof. According to Liu, the device that’s dedicated to the Western Markets was designed with the aim of providing the safest, yet easy to use, hardware wallet.

It is one of the most transparent hardware wallets ever introduced to the public. Virtually, all its aspects are open-sourced. In this guide, we explore this in detail. We’ll highlight its key features, explaining its security features, providing you with a step by step on how it works, and going over its pros and cons.

Cobo Vault Key Features:

i) 4-inch touchscreen with a fingerprint sensor: Cobo Vault hardware wallet is relatively bulky and features one of the widest screens ever fitted on a hardware wallet. The wallet’s interactive interface is a 4-inch touchscreen with a fingerprint sensor and capable of fitting a full keyboard. The Cobo vault wallet also features a button and a camera that facilitate the wallet’s communications.

ii) Water and shock resistant: Both the metallic and glass casings of the Cobo Vault hardware wallet are made of aerospace aluminum. The military-grade casing is waterproof, impact-resistant, and fulfills the MLD-STD-810G standards set by the US Military.

iii) Rechargeable and removable battery: Cobo Vault hardware wallet features a rechargeable and removable battery. Additionally, instead of relying on the more expensive Li-Ion batteries, the wallet uses the readily available and inexpensive AAA batteries. Most importantly, these batteries have to be detached and charged on a charging dock as a further safety guide.

iv) Multi-coin and tokens support: The Cobo Vault hardware wallet currently supports up to 10 cryptocurrencies and the ERC-20 tokens. Its providers have, nevertheless, hinted on the possibility of expanding this number of supported cryptos during the upcoming firmware updates.

Cobo Vault security features:

Multi-character password:

Like any other hardware or software wallet, Cobo vault has a password as its first protection measure. You get to set this password during wallet installation and activation. Unlike most other crypto wallets, however, Cobo Vault allows you to set up a 30-character long password. Plus, you also have the option of using a pattern password.

Communication via QR Codes:

Unlike most other hardware wallets that use both wired and wireless connections like Bluetooth or Wi-Fi to connect to their crypto apps, Cobo vault uses QR codes. It does not have a USB port, and neither does it support Bluetooth nor Wi-Fi connections. To send/receive cryptos in/out of the wallet, you have to use its camera on the wallet device to scan the receiver’s QR code.

Open-sourced software:

Like most other hardware and software crypto wallets, Cobo vault has outsourced the technology used in coming up with the wallet. This has exposed it to scrutiny and auditing by crypto and blockchain industry experts who affirm its security.

Cobo vault has gone ahead and open-sourced its wallets secure element – often considered the most opaque part of the hardware – making it the first hardware wallet to expose this sensitive aspect of its wallet’s operations.

Firmware Upgrade through SD Card:

In light of the fact that the Cobo vault hardware wallet doesn’t have a USB port and doesn’t support wireless connections, it can only be updated via an SD card.

12-24 word recovery seed:

When installing the Cobo vault hardware wallet, you will also be furnished with a 24-word recovery seed that you can use to recover your private keys if you ever forget your password or lose the device. The Cobo Vault package will also feature a Cobo tablet – a stainless metallic wallet that you will use to store this recovery seed.

Increasing lockout period:

Cobo Vault further protects your wallet against brute force attacks by incrementally pushing up the lockout time between two subsequent password input attempts.

Self-destruct security feature:

In addition to the increased lockout period for failed password input, the Cobo vault hardware wallet has a self destruct feature. The wallet will delete any form of data stored within the wallet’s secure element should anyone try to open the body of the device.

Hidden vaults:

You get to create a vault/ wallet address for every crypto stored in your Cobo vault. But you also have the option of creating multiple hidden wallet addresses with individual passcodes for these cryptocurrencies and tokens.

No physical attack points:

The Cobo Vault Hardware wallet is completely air-gapped with no physical points of attack, safe for the SD card used during the firmware update. By disabling Wi-Fi, USB cable, and Bluetooth connections, Cobo Vault effectively eliminates the possibility of a man-in-the-middle attack.

Encryption chip:

The device features an encrypted chip that integrates BIP32, 39, and 44 security protocols. The Chip is proprietary and bank-grade, and it works by auto-generating truly random numbers for your private keys.

Setting up Cobo Vault hardware wallet

Step 1: Power on your device

Press and hold the power button for 3 seconds to boot the Cobo Vault wallet and proceed to choose your desired language.

Step 2: Visit Cobo official website

Using your desktop, laptop, or mobile phone, open Cobo Vault’s official website and click on start to display the web authentication QR code. The size of this code can be adjusted inwards or outwards.

Step 3: Scan the QR code using your Cobo Vault device

Use the camera on your Cobo vault device to scan the QR code displayed on the Cobo vault.

Step 4: Input the 8-digit code shown on your device

For the Cobo vault device verification, scan the 8-digit code on the website. If it succeeds, the website will display the “Authenticated” message while the device displays a “Success” note. But if your hardware and the website don’t pair, and the authentication process fails, it is possible that the device might have been tampered with.

Step 5: Set a strong password

Proceed to set a strong, memorable, and highly unique password. An ideal password is ten characters long. But, the Cobo Vault wallet makes it possible for you to create a 30-character password with a mix of symbols, numbers, and letters. Plus, you have the option of choosing to set up a pattern as your password.

Step 6: Create your vault

Proceed to create a new vault for storing your digital assets. To get started, tap on the ‘Create vault’ icon, click ‘Next,’ and then “Understand” to complete the process.

Step 7: Back up or record the recovery phrase

After creating the first vault, the device will display a set of 24-words known as the seed that is used in recovering your private keys should you forget the password for the device. Record these on the indestructible metal tablet shipped alongside the device. The device will ask you to confirm that you correctly recorded the seed.

Step 8: Start loading cryptocurrencies and tokens

Your wallet is now active and ready for use. You can start moving your cryptocurrencies from exchanges and other wallets into the Cobo Vault Wallet.

Step 9: Synchronize with Cobo Vault Mobile App

Accessing your vault from your mobile phone is quite easy. All you are required to do is synchronize your Cobo vault mobile app with your device. Start by downloading the app from Google Play or iOS. Open the app and click on “Bind” from the “Add wallet” option. Agree to their terms and conditions and click “confirm” to begin scanning the QR code.

If the code doesn’t scan currently on the first trial, click on “difficulty scanning” and retry.

Supported Crypto Assets and countries

Unlike most other hardware crypto wallets that support hundreds – sometimes thousands – of cryptocurrencies and tokens, you can only store a maximum of 11 cryptocurrencies and ERC-20 tokens on the Cobo Vault hardware wallet. These include:

  • Ethereum (ETH)
  • Dash
  • Bitcoin (BTC)
  • BitcoinCash (BCH)
  • Ethereum Classic (ETC)
  • EOS
  • XRP
  • Litecoin (LTC)
  • Zcoin (XZC)
  • Tron (TRX)
  • Decred (DCR)
  • ERC- 20 tokens

The Cobo wallet developers argue that there is no limit to the number of cryptos you can store within your Cobo crypto wallet. They are also regularly releasing firmware updates for the wallet that involves increasing the number of supported cryptocurrencies.

Virtually any crypto trader/investor looking for a safe storage unit for their digital assets can purchase the Cobo Vault hardware wallet form their official website and have it shipped to any part of the world.

Cobo Vault hardware wallet ease of use:

The fact that the Cobo Vault wallet will only use the QR code scanner for communications with the company’s website and mobile apps complicate its use – especially the initial activation and verification process. The processes of sending and receiving coins into the wallet are, however, quite straightforward as the wallet eliminates the need to type in the lengthy wallet addresses. You only need to scan the other party’s QR code.

Thanks to its relatively large touch screen and fingerprint sensor, interacting with the wallet when checking crypto balances, creating additional vaults, or setting passwords for hidden vaults is relatively simple.

Cobo Vault hardware wallet customer support:

Cobo vault’s website is multilingual and available in both English and Mandarin. Its developers have also availed both written and video tutorials on their website aimed at helping address some of the most common challenges faced by Cobo Vault users.

You can also contact the Cobo Vault customer support team by raising a ticket on their website, via email, or reaching out through the official Cobo Vault social media pages (Facebook, Weibo, Twitter, or LinkedIn).

Cobo wallet fees and charges:

The unlimited number of premium security features integrated into the Cobo Vault hardware wallet explains the relatively high price of the different Cobo Vault wallet models. Ideally, there are three models of the Cobo Vault Wallet: Cobo Vault Essential costs $99, Cobo Vault Pro costs $149, while Cobo Vault Ultimate costs $479.

You, however, won’t be charged to download and install the Cobo Vault mobile app or for the continued use of the Cobo wallet. The blockchain network operators will nevertheless institute transaction fees that vary based on the amounts transferred and type of coin. These fees go to blockchain miners and not Cobo Vault.

Pros and Cons of Cobo Vault hardware wallet

Pros 

  • The contactless nature of the hardware wallet goes a long way in eliminating the man-in-the-middle hacks.
  • It’s the first truly open-sourced hardware wallet – given that this open-sourced nature extends to its secure element.
  • Its large display allows users to use a full keyboard and eases interactions with the wallet.
  • The increased lockout period and self-destruct features pay a critical role in preventing such physical intrusions as the brute force attack.
  • Cobo Vault wallet employs a combination of several security features, all aimed at keeping your private keys private.

Cons

  • One may consider the wallet too complicated and not user-friendly.
  • The different models of the Cobo Vault wallet are a bit expensive.
  • The wallet supports less than a dozen cryptocurrencies.

How Does Combo Vault wallet Compare to other Wallets in the Market? 

Cobo Vault differs significantly, with some of the most common hardware wallets available today. For instance, in addition to the common security features employed by such hardware wallets as Trezor and Ledger Nano, Cobo Vault introduces the self-destruct mode. It also limits the device’s wireless connectivity and embraces a military-grade casing. That is, fire, water, and impact-proof. The likes of Trezor and Ledger Nano may, however, be considered more user-friendly, support a wide range of crypto assets, and are also less costly.

Final Verdict: Is Cobo Vault the safest hardware wallet?

Thanks to its tamper-proof design, open-sourced secure element, self-destruct feature, and limited connectivity, Cobo Vault makes it on the list of the most secure hardware wallets available today. We consider it ideal for long-time crypto investors specializing in popular cryptos. Its security and cool design notwithstanding, we take offense with its steep cost $479 cost, especially considering that it only supports 11 cryptocoins.

Categories
Cryptocurrencies

Ellipal Wallet Review

Ellipal is perhaps one of the wallets that offer a wide range of cryptocurrency storage solutions. The 1st generation hardware wallet is manufactured by a company based in Hong Kong and was launched in 2018. Unlike the majority of hardware wallets, whose main aim is profit, Ellipal primarily focuses on security for its users’ funds. Over the years, it has grown its products catalog and features a cryptocurrency wallet app for desktop, iOS, and Android users.

Ellipal is perhaps one of the wallets that offer a wide range of cryptocurrency storage solutions. The 1st generation hardware wallet is manufactured by a company based in Hong Kong and was launched in 2018. Unlike the majority of hardware wallets, whose main aim is profit, Ellipal primarily focuses on security for its users’ funds. Over the years, it has grown its products catalog and features a cryptocurrency wallet app for desktop, iOS, and Android users.

Ellipal is perhaps one of the wallets that offer a wide range of cryptocurrency storage solutions. The 1st generation hardware wallet is manufactured by a company based in Hong Kong and was launched in 2018. Unlike the majority of hardware wallets, whose main aim is profit, Ellipal primarily focuses on security for its users’ funds. Over the years, it has grown its products catalog and features a cryptocurrency wallet app for desktop, iOS, and Android users.

Currently, Ellipal ships to over 70 countries, including the United Kingdom, Canada, and the United States. Its ability to feature a wide range of exceptional features makes it the go-to crypto wallet for anyone looking for top-notch security. However, what are some of its top features? How does it compare to some of the hardware wallets in the market? Read on as we have prepared a detailed insight into some of the critical things you need to know about it. But before we go into detail, let’s find out some of its key features.

Ellipal Wallet Key Features

4-inch touch screen: Ellipal’s huge screen capacity is perhaps one of the most notable features. It features a stunning 4-inch inbuilt touchscreen with amazing graphics. What’s more, it has high sensitivity, and it’s tough to scratch.

Air-gaping technology: One of the biggest concerns for the majority of crypto users is private key leaks. For this reason, it integrates a QR generation feature that is open-sourced and can guarantee that it will not leak. 

Private keys import: Typically, the best way to guarantee the safety of your private keys is to store them yourself. Ellipal integrates a unique feature where users can import their private keys to their preferred storage. 

IP65 rating: Ellipal is IP65 rated, which means that the device is limited ingress permitted, fully protected against dust or low-pressure jets. As a result, the device is one of the most damage-proof hardware wallets in the market.

Air-gapped transactions: The criterion incorporated in Ellipal’s mode of operations makes it one of the most secure hardware wallets. It features an Air-gap technology in its transactions, which ensures that it is physically isolated from other networks. 

Tamper-proof: The majority of crypto wallet users lose their hardware wallet funds to hackers even before they start using the device. This is because the devices are compromised in the supply chain. Ellipal has designed their wallets with this in mind and has incorporated anti-tamper and anti-disassembly features to ensure that hackers do not get access to the devices. 

Price and Unboxing

Regardless of where you are, you can get the complete package at $169, excluding shipping fees. Its packing contains 1 USB cable, 1Ellipal device, recovery sheet cards, and a getting started guide. Once you get your wallet, the next step is to set it up. 

How to Set Up Your Ellipal Hardware Wallet

Besides its easy-to-use criterion, the Ellipan hardware wallet is quite easy to set up. Below is a detailed insight into how to go about setting up the device.

Step 1: Download Ellipal App

Start by turning on your Ellipal device, select your desired language, and then navigate to download the Ellipal page. After doing so, use your mobile phone to scan the Cold Wallet QR code and download the Ellipal App. 

Step 2: Create a cold wallet account

After downloading the app, click next to begin your Ellipal journey. You will get a prompt to create a new account, recover vi1a mnemonics, or import your account. 

 

  • Create an account

 

When you choose to create an account, you will be redirected to a registration form where you will be required to fill in your details. Ensure you fill in the form with the correct details in the spaces provided. 

 

  • Back up mnemonic words

 

After successfully creating your account, click on “back up mnemonic words” and ensure you read the notes carefully. The backup phrase consists of 12 words and is used to restore your account in case your phone is lost or stolen. Ensure you write it down correctly and keep it in a safe place. 

 

  • Verify the mnemonic

 

After writing it down, enter the 12-word phrase to verify. This is to ensure that you have entered the correct details. Note that you might not be able to recover your funds if you lose your recovery phrase. For this reason, it is recommended to write it down on a piece of paper and keep multiple backups. 

Step 3: Update hardware on a micro SD card

Go to https://www.ellipal.com/pages/update and download the latest firmware on external storage- preferably a micro SD. 

Step 4: Insert the card to your device and complete the process

After downloading the firmware, you will be required to insert the card to the device to complete the setup. It will automatically detect the new firmware and start updating.

Sending and Receiving Crypto

Ellipal is designed with air-gapped technology for all its transactions. All its outgoing transactions have to be signed using a QR code that is generated on the hardware then scanned with the mobile app. You will be required to select the currency to be transferred and click “send.” After doing so, enter your desired amount and enter the recipient’s address. Finally, set the mining fee and scan the “signed data QR code” on the Ellipal. 

Receiving funds is also quite easy. All you are required to do is select the account, assets, currency, click on “receive,” and copy the account address. Your funds should be available in your wallet almost immediately after they are sent to your account. 

Supported Currencies

Undoubtedly, being able to store multiple currencies in a single wallet is every crypto wallet user’s wish. Ellipal has ensured its users get the best out of their hardware by providing their customers with the ability to store multiple cryptocurrencies. It provides support for over 31 native blockchains and support for TRC10, ERC20, and TRC20 tokens, which also makes it one of the most comprehensive crypto wallets in the world. Here is a list of some of its supported cryptocurrencies.

  • Ethereum (ETC) and all ERC20 Tokens
  • Bitcoin (BTC)
  • Stellar Lumens (XLM)
  • Binance Coin (BNB)
  • Tron (TRX)
  • XRP (XRP)
  • Bitcoin Core (BTC)
  • Icon (ICX)
  • PalletOne (PTN)
  • Bitcoin Cash (BTX)
  • Tether (USDT)

Additionally, besides the fact that the website supports quite a myriad of currencies, it is always looking for ways to integrate even more cryptocurrencies in the months or years to come. 

Ellipal Mobile App

Ellipal’s mobile app is available for both Android and iOS users. What’s more, it is also dual-purpose, meaning it can be used either as a hot wallet or a cold wallet. Typically, you can use it to store cryptocurrencies with or without the hardware.

The app lets you do pretty much everything, from sending and receiving multiple cryptocurrencies to storing them. Apart from that, you can also exchange cryptos natively and in a secure fashion within the app. You will notice that the app has a news section to provide users with updated prices from popular exchanges, quotes, and the latest news from the digital asset market.

 Pros and Cons of Ellipal

Pros 

  • User-friendly
  • Its robust metal body offers protection against physical attacks
  • Completely isolated from external attacks
  • Features a sleek design
  • Supports multiple cryptocurrencies
  • Strong security

Cons

  • A bit expensive for an emerging wallet

How Does it Compare to Competitors

So, what makes Ellipal unique? Although it has not gained recognition as the best crypto hardware wallet in the wallet, it features a dozen of amazing features. First, upon unboxing, the hardware is reminiscent of a premium cell phone. Its sleek design and presentation give a strong impression of a quality device. What’s more, it integrates a number of sophisticated security features, making it an incredible wallet to store your crypto assets.

Ellipal can be compared to a wallet such as Bitfi. They are quite similar in terms of physical appearance. However, Ellipal is a closed source and does not expose its private keys to public networks. Bitfi is an open-source and stores its user’s private keys externally.

Verdict: Is Ellipal Hardware Wallet Worth Your Money?

If you are looking for a hardware wallet that favors absolute security, usability, and portability, then Ellipal is your ideal option. It is a solid contender in today’s hardware wallet market. The device has an intuitive interface, large display, and reliable security features. What’s more, it allows users to store different cryptocurrencies in a single wallet, which is quite useful, especially for individuals looking for a reliable cryptocurrency wallet to conduct regular transactions.  

Categories
Cryptocurrencies

Blockchain.info In-Depth Review: Features, Privacy, Pros, and Cons

If you are a crypto enthusiast, you have probably heard or even used blockchain.info. It is one of the widely used websites today. The site was launched in 2011 and is regarded as one of the best cryptocurrency platforms. Blockchain.info is more than a wallet. It shows the transactions of bitcoins and the current status value while keeping users updated with the current trend.

If you are a crypto enthusiast, you have probably heard or even used blockchain.info. It is one of the widely used websites today. The site was launched in 2011 and is regarded as one of the best cryptocurrency platforms. Blockchain.info is more than a wallet. It shows the transactions of bitcoins and the current status value while keeping users updated with the current trend.

If you are a crypto enthusiast, you have probably heard or even used blockchain.info. It is one of the widely used websites today. The site was launched in 2011 and is regarded as one of the best cryptocurrency platforms. Blockchain.info is more than a wallet. It shows the transactions of bitcoins and the current status value while keeping users updated with the current trend.

Among the things that have significantly contributed to its popularity is the criterion integrated into its payment structure. Even so, what are some of its top features? How does it compare to other cryptocurrency websites? Stick along as we have prepared a detailed insight into blockchain.info. However, before we get into detail, let’s first take a peek into its top features.

Blockchain.ifo Features

OS compatibility: Blockchain.info is compatible with both Android and iOS. Its app can be downloaded from play store or iTunes.

Backup Recovery Phrase: This security feature is specially designed to enable users to backup their wallets in case it is lost or stolen. The website provides users with a unique phrase of words that can be used to retrieve your wallet from another device.

Two-Factor Authentication (2FA): Apart from the backup recovery phrase security feature, you can also set up two-factor Authentication using your verified phone number.

PIN Protection: Blockchain.info allows mobile users to set a PIN to protect their wallets from unauthorized access. Users will be required to key in the necessary PIN every time they want to access the wallet.

Multiple languages: The best thing about blockchain.info is that it supports over 25 languages for ease of communication.

QR cord support: If you want to enjoy quick transactions, the best way to conduct transactions is to use its QR code.

Multi-signature: Security is critical in blockchain.info. As a result, the website allows its users to sign in from multiple devices. That way, it makes it quite hard for a hacker to identify the original user.

Blockchain.info Privacy

Typically, the main reason why the majority of crypto users use blockchain.info is to enhance the privacy of their wallets. There are three security levels at blockchain.info. Here is how they break down:

Level One

  • Email verification– By verifying your email address, you allow the website to send you notifications about any activity on your account, send you login codes to confirm payments, and many more.
  • Backup phrase– Users are required to backup a secret phrase that will be provided during sign up. Note that due to the company’s commitment to enhancing their user’s privacy, they do not have access to passwords and, thus, cannot help users in recovering their funds if they lose the backup phrase.

Level Two

  • Link to your mobile phone– In case someone time tries to log into your account, you will receive a one-time login via mobile to reset your password.
  • 2-step verification– If this security feature is activated, users will receive a one-time password code each time the user attempts to log in.

Level Three

  • Block IP addresses from Tor Network– This option is fundamental to prevent phishing activities from hackers using the Tor network. The website’s security feature is capable of blocking any IP address from the Tor network.

Apart from the above three-tire security levels, you can also utilize the “security center” section strategically located on the left side of the website.

Supported Currencies

Unlike the majority of platforms that offer bitcoin wallet services only, Blockchain accepts both Ethereum (ETH) and Bitcoin Cash (BTC). Although bitcoins are the only ones you can buy directly from the platform or other linked exchanges, you can transfer both currencies in and out of your wallet. What’s more, you can exchange the coins with each other at any given time.

Guide to Opening a Blockchain.Info Wallet

Step 1: Download the app

Depending on the type of platform you are using, signing up should be the first option for registering your details at Blockchain.info wallet. Android users can download the app from Playstore, while those using iOS can get it from iTunes. Alternatively, you can also register your details from its web platform.

Step 2: Sign up

After downloading the app, click on “create wallet” to sign up. Fill in your email address and create a password. After doing so, confirm you have read the terms and conditions and continue to the next step. Hit the “request button” to start buying Ethereum or Bitcoin. Note that you will be required to confirm your email address before you can be allowed to transact with the account.

How to Add Currency to Your Account

So, what happens after clicking on the “request” button? You will be required to select your currency of choice. In this wallet, it can either be Ethereum or Bitcoin. After choosing your ideal cryptocurrency option, you will be required to enter your wallet address, which seemingly looks like a long string of letters and numbers. Anyone with your address can comfortably send you the appropriate currency with the address.

Most importantly, ensure you send Ether to the Ether address only and bitcoin to the bitcoin address only. Submitting to the wrong address might result in a permanent loss of your funds. If you don’t have either of the cryptocurrencies in another wallet, ensure you transfer the required type to your new account before making a transaction. Alternatively, you can exchange it with fiat or other platforms such as Coinbase.

How to Send Payments with Your Blockchain.Info Wallet

Making payments with your Blockchain.info wallet is quite easy. All you are required to do is click the “send” button on your dashboard and follow the prompts. You will be asked to enter the wallet address and the ideal amount you wish to send. Additionally, the website also integrates an automatic conversion feature that allows you to type in the desired value using either cryptocurrency or your local currency. It will display the total in both cases for easy comparison.

You will also have an option to enter a description or provide more details about the payment. Further, if the transaction is urgent, you can make it a “priority.” However, your sending fee might incur additional charges. You might also choose to “customize Fee” and specify a specific rate. Note that transactions with higher costs might, sometimes, prove to be faster and vice versa. Once you are done, click “Continue” to confirm the details and correct and complete the deal.

Is Blockchain.info Wallet Safe?

Yes, the Blockchain.info wallet is safe. The website had a security update back in 2016 and is, in fact, one of the best crypto wallets with advanced security features. As mentioned earlier, Blockchain.info offers a three-tier security infrastructure. You will be required to safeguard your wallet with email verification, and then use a secret phrase. Finally, secure your details with the third-tier option of blocking your IP addresses from being accessed by the Tor network.

Apart from that, every address at blockchain.info is protected with the hierarchical deterministic feature. Every user using Ethereum or Bitcoin address at Blockchain.info is guaranteed optimum safety while conducting any online transaction. It also provides an additional PIN as an added security feature. For this reason, it is, without a doubt, safe to say that Blockchain.info is indeed safe to use.

Customer Care

There are a couple of ways to contact the blockchain.info wallet. You can either use the ticket method to contact the support team directly or use email. Besides, they also feature an extensive FAQ section where users can get quick answers to the commonly asked questions. Its customer care platform is indeed some of the critical things that have significantly contributed to its fame as an old but the most trusted cryptocurrency wallet.

Pros and Cons of Blockchain.Info Wallet

Pros

  • Its services are available globally.
  • The website offers a myriad of security functions.
  • No verification is required.
  • It charges minimal transaction fees.
  • Historical and statistics information chart is provided.
  • Hierarchical deterministic is available for every transaction.
  • Its user interface is highly intuitive.

Cons

  • Bitcoin, Bitcoin Cash, Ethereum are the only available cryptocurrencies
  • It is not possible to buy fiat currencies directly from your wallet.

Verdict: Is Blockchain.info Worth Your Money?

If you are looking for a safe method to safeguard your wallet, you should try out Blockchain.info. It is one of the best websites that integrates advanced security features. It is, no doubt, worth every penny. The criterion incorporated in its transaction methods ensures you not only get to enjoy optimum security for your funds but also enjoy seamless transactions with minimal fees.

Consequently, its registration process is quite easy. All you are required to do is follow the necessary prompts, and you will be good to go. The majority of crypto enthusiasts have tried out and experienced positive results. Try it out, and the success in securing your funds will be inevitable.

Categories
Cryptocurrencies

Cryptonator Wallet Review

Choosing the right digital wallet is one of the most critical things for any cryptocurrency user. This is mainly because the security of your funds will be entirely the wallet. Cryptonator is among the best options in the market, capable of delivering top-notch results. It is a multi-coin wallet that has been in existence since 2014. The digital wallet is quite easy to use and supports a myriad of currencies, including Litecoin, Ethereum, and Bitcoin. What’s more, it is designed to operate without ID verification to ensure you get a high privacy level. 

Choosing the right digital wallet is one of the most critical things for any cryptocurrency user. This is mainly because the security of your funds will be entirely the wallet. Cryptonator is among the best options in the market, capable of delivering top-notch results. It is a multi-coin wallet that has been in existence since 2014. The digital wallet is quite easy to use and supports a myriad of currencies, including Litecoin, Ethereum, and Bitcoin. What’s more, it is designed to operate without ID verification to ensure you get a high privacy level. 

Choosing the right digital wallet is one of the most critical things for any cryptocurrency user. This is mainly because the security of your funds will be entirely the wallet. Cryptonator is among the best options in the market, capable of delivering top-notch results. It is a multi-coin wallet that has been in existence since 2014. The digital wallet is quite easy to use and supports a myriad of currencies, including Litecoin, Ethereum, and Bitcoin. What’s more, it is designed to operate without ID verification to ensure you get a high privacy level. 

Nonetheless, is it right for you? What else does it offer? Buckle up as this review provides you with detailed insight into everything you need to know about Cryptonator. You will get to know the good and the bad side of it as well as how it compares to the other wallets in the market. 

Key Features-

Multi-currency: One of the best things about Cryptonator is that it supports a good number of fiat currencies including Euro (EUR), United States Dollar (USD), Russian Ruble (RUB), and Ukrainian Hryvnia (UAH). 

OS compatibility: Cryptonator is compatible with several operating systems, including Windows, Android, iOS, OSX, Chrome, Firefox, and OSX. 

Multi-languages: Cryptonator supports five languages. They include French, German, Spanish, Russian, and English. 

Two-factor-authentication (2FA) – The crypto wallet is specially designed to send a One Time Password (OTP) in the form of a code. The code is sent to the user’s registered mobile number. They are required to enter the password to be granted access. 

SSL connection– All transactions at Cryptonator are protected with a secure HTTPS security protocol or SSL connection. The sophisticated technology integrated into the connection ensures users send and receive crypto coins with the highest form of encryption. 

Built-in-exchange platforms– With Cryptonator, you don’t have to visit a bureau to exchange cryptocurrencies. The wallet features an always on-your-service exchange platform that allows users to change currencies within the website. 

Full control over private keys: In case of an online attack, hackers are capable of gaining access to the user’s private keys. For this reason, Cryptonator provides users with full control of their private keys. They can export and store them in the best place they see fit. 

Hot wallet: The best thing about hot wallets is that they can be accessed at any time as long as there is an internet connection. 

How Safe is Cryptonator?

The biggest concern for the majority of crypto users is safety. Cryptonator understands this and integrates quite a good number of security features that guarantee optimum security. Among some of their top features include a two-factor-authentication security protocol that involves sending a one-time 6-digit code to a user’s registered number to be allowed access to their accounts.  

Unlike the majority of cryptocurrency wallets, Cryptonator provides users with full access to their private keys. They can save them in a location they see fit. Additionally, the crypto wallet is designed with a built-in exchange. This allows users to swap different cryptocurrencies. Further, users are not required to pay any fee. All they have to do is access the different exchange services offered and by the platform and choose their ideal swap.

How to Get Started 

Step 1: Visit the official website at https://www.cryptonator.com/ and tap on the signup button.

You will be automatically redirected to the “Open New Account” page. 

Step 2: Create a personal account

Here, you will be given two options. You can either choose to create a merchant account or a personal account. Select the option that suits you best.

Step 3: Set a password 

Regardless of the type you choose, you will be required to create a strong password for your account. Ensure you create a strong password combination with numbers, characters, lower and uppercase letters, as well as numbers. 

Step 4: Create an account

After filling all the details in the required sections, you will be required to click on the “create an account” tab.

Step 5: Verify your email

After creating an account, you will be required to go to your registered email and verify to activate your account. 

Step 6: Ensure that all the coins are turned on

Click on the setup guide section and check whether all your desired types of currencies are activated. Turn on only the ones you plan to use. 

Step 7: Create new addresses for every coin

After activating your desired address, you will be required to create a new address for every coin that you have activated. You can create as many as ten addresses for every wallet in your Bitcoin account.

Step 8: Activate your two-step verification

Here, you will be required to choose from Telegram, text message, Messenger, or Google Authenticator. Nonetheless, the best option is Google Authenticator. If you opt for this option, download it from Playstore or iTunes and install it on your device.

Open the Cryptonator website and use the app to scan the QR code to generate a code. Enter the code and click “send.” 

Once the two-step verification security feature is activated, the system will automatically create a secret key to be used with your account. The key is meant to work as a backup in case your device is damaged or lost. For this reason, it is recommended to create several copies and store them safely.

Step 9: Confirm your backup

You will be required to confirm that you have successfully backed up your secret key by clicking on, “I backed up my secret key, close the window.”

How to Transfer Coins to Cryptonator

After creating your account, you will need to add cryptocurrencies to your wallet to perform transactions. The best way to add funds to your account is to transfer coins from another account to your wallet. Here is how to go about it:

Step 1: Click on your account name to display the address

You can either utilize the “Actions” button next to your account name to show your addresses or click on the account name to get the details. 

Step 2: Send funds from another wallet to your address. 

It should automatically reflect on your Cryptonator account. Save the sender’s address in case you might want to use it again. 

Apart from the above method, you can exchange Fiat currencies directly from your bank account using wire transfer. The crypto wallet has a built-in exchange feature that supports four fiat currencies that allow users to swap a wide range of cryptocurrencies conveniently on their wallets. 

How to Send or Receive Coins on Your Account

Sending coins from your Cryptonator account is easy. All you need to do is click on the “send” button located on the left side of the wallet’s interface. Copy the address you want to send to and select the number of coins. The wallet will automatically populate the “Gross Amount” and “Transaction Fee” that you will be required to pay.

The next step would be to figure out how to receive payments on your Cryptonator wallet. This process is quite easy. Click on the “balance” section and select the number of coins you want to receive. Click on “show my Bitcoin wallet address” to view the address and copy it. Share it with the sender to use it while sending funds to your wallet. 

Cryptonator Vs. Other Wallets- How Does it Compare?

To find out whether Cryptonator is your ideal cryptocurrency wallet, you need to compare some of its top features against other popular options in the market. 

eToro vs. Cryptonator wallet

First of all, both these wallets are quite amazing in terms of service delivery. However, there are a few differences between the two. As compared to Cryptonator, eToro is fully regulated by FCA (UK) and CySec (Cyprus) licensing companies – which are some of the best and most trustworthy regulatory agencies in the market. Further, it also offers an intuitive design that is quite easy to use. Unfortunately, this cannot be said about Cryptonator. 

Coinbase vs. Cryptonator

There is no doubt that when it comes to social trading platforms, Coinbase is at the top of the league. It operates in compliance with FCA and CySEC licensing companies and offers a much higher level of security. Coinbase integrates more advanced features such as multi-signature keys as compared to Cryptonator that only uses 2FA. 

Pros and Cons of Cryptonator

Pros

  • Multi-currency wallet
  • Users don’t need an identity verification
  • It works as a hot wallet
  • Supports fiat currencies

Cons

  • The wallet is unregulated
  • Does not offer leveraged trading

Final thoughts

Generally, Cryptonator is a secure web wallet with a user-friendly interface that integrates quite a wide range of security features. It is ideal for users looking for a cryptocurrency platform with a two-factor authentication feature, an automatic exchange platform, and supports an array of coins. It provides some of the best profitable conditions to work with and combines multiple custom features. Try it out, and there is no doubt you will enjoy using the hot wallet. 

Categories
Cryptocurrencies

Dash Core Wallet Review

If you are reading this review, there are high chances you are familiar with Dash. To give you a quick overview of what it entails, Dash is a decentralized cryptocurrency, which is also an altcoin that has been forked from the Bitcoin blockchain. It was launched as “Xcoin” back in January 2014. Currently, it is ranked 12th in the cryptocurrency market. However, to use it, you need a Dash wallet.

If you are reading this review, there are high chances you are familiar with Dash. To give you a quick overview of what it entails, Dash is a decentralized cryptocurrency, which is also an altcoin that has been forked from the Bitcoin blockchain. It was launched as “Xcoin” back in January 2014. Currently, it is ranked 12th in the cryptocurrency market. However, to use it, you need a Dash wallet.

If you are reading this review, there are high chances you are familiar with Dash. To give you a quick overview of what it entails, Dash is a decentralized cryptocurrency, which is also an altcoin that has been forked from the Bitcoin blockchain. It was launched as “Xcoin” back in January 2014. Currently, it is ranked 12th in the cryptocurrency market. However, to use it, you need a Dash wallet.

While there is quite a good number of third-party wallets such as Jaxx, Dash Electrum, and Exodus, there is a Dash Core desktop wallet that you might want to consider for keeping your Dash coins safe. It is as its name suggests. The wallet is designed by Dash themselves, and, therefore, you can always rely on it for the latest updates and optimum performance. Read on as this review gets into a detailed insight into everything you need to know about the Dash Core Desktop wallet. 

Key Features

Masternode commands and voting: Dash Core wallet features special commands for controlling servers known as masternodes. They are used to enable services such as InstantSend, governance, and treasury system, as well as PrivateSend. 

ChainLocks: This feature is provided by the Dash Network that provides certainty when accepting any payment. It is used in parallel with InstantSend. Technically, it creates an environment where payments can be accepted instantly and with little or no risk from the “Blockchain Reorganization Events.”

PrivateSend: It is, as its name suggests. PrivateSend features provide users with true financial privacy by integrating an innovative process that mixes your inputs with at least two other people in one transaction. It also means that there will be no seed that leaves your wallet.

InstantSend: The technology integrated into this feature allows Dash currency to compete with instantaneous transaction systems without relying on a centralized authority. 

OS compatibility: Dash Core wallet is available for Linux, Windows, MacOS, and Raspberry Pi. 

Governance and treasury: It allows stakeholders to determine the direction that the project is heading to and devote 10% of the block reward to the ecosystem and the development of the project. 

Wallet encryption: This feature allows users to set a unique password or PIN that can be used to access the wallet. 

How to Download and Set Up the Dash Core Desktop Wallet

Step 1: Head to the official Dash website at https://www.dash.org/. 

Here, you will find two options. One is the “Get Dash,” and the other is for “12.1 Update”. Scroll down to the download wallet section. You will automatically be redirected to a different page where you can download your desired type. You’ll find options such as OSX, Windows (32 bit), Windows (64 bit), and Linux. Choose an option that suits your current operating system.

Step 2: Download Installer

After choosing your desired option, you will be prompted to save the software onto your device. Click on save and let the download complete. 

Step 3: Install the application

Once the download is complete, the next step would be to install the application. Click on the downloaded app and follow the installation prompts. You will be asked to either “run Dash Core” or “finish” once the setup is complete.

Step 4: Choose a custom data directory path

Another window will pop up to provide you with brief information on how much space your wallet will need, so you should ensure you choose your hard drive’s directory path carefully. Notably, you should consider that your Dash Core data will increase over time based on your usage. For this reason, you should ensure that you have enough storage on your existing drive. 

Click “OK” after you are done.

Step 5: Allow access to the firewall

If your firewall is active, you will be asked to grant the application access. Click on “Allow access” and wait for the application to synchronize with the Dash Blockchain. 

Step 6: Encrypt wallet

Once synchronization is complete, the first step would be to encrypt your wallet. Click on settings and choose “encrypt wallet.” Ensure you input a unique passphrase that is impossible to guess but easy to remember. The best way to set a strong password is to incorporate random characters, numbers, and lower and uppercase letters. Click “OK” once you are done.

Step 7: Read the risks involved when you lose your password

Another window will pop up with a warning of what might happen if you lose your passphrase. Click “yes” to start the encryption process. Give the process a few minutes. Another pop up will show up just before the encryption is complete informing you that the application will close to finish the wallet’s encryption process. Click “OK” to confirm and reopen the application. 

Step 8: Back up your wallet

Now that you have successfully installed and encrypted your wallet, the next step should be to create a backup. Click on “file” at the top of the application and click on “Backup Wallet.” Note that it is advisable to back up your wallet every time you add more coins. You can use storage mediums such as cloud or USB/hardware.

How to Send Dash

Sending Dash with your Dash Core desktop wallet is quite easy. All you need to do is click on “Send” and input the required details. Below is a detailed guide on how to go about it:

Pay To:  Enter the receiver’s address

Label: Enter a label for the address to add it to your address book and for easier access. It will help you sort out all the people you have ever sent to with ease. 

Amount: Add the number of coins you want to send.

Transaction fee: Click on “recommended” to expand the options.

Send: Ensure all the details are correct and click send.

Also, you might want to check on the transaction history. It will help you keep track of every transaction.

Receiving Dash

Receiving Dash on your application is also easy. All you are required to do is click on receive and fill in the required information. Here is a breakdown of how to go about it.

Label: It is helpful in organizing a list of addresses you use frequently.

Amount: Choose the amount of Dash you are requesting.

Message: You can add a message if you wish. 

Request payment: Click on request payment once you are done.

How Does Dash Core Compare to Other Wallets in the Market?

Dash Core vs. Atomic Wallet

Dash Core integrates quite a good number of powerful features such as InstaSend, PrivateSend, Masternode, Governance, and many other management functions. These features ensure that all transactions are safe and valid. The Atomic wallet supports neither PrivateSend nor InstaSend. However, it allows users to exchange cryptocurrencies peer-to-peer, which means that no third-parties are acting as intermediaries.

Dash Core vs. Exodus Wallet

Exodus is yet another well-known desktop Dash coin wallet in the market. It’s famous for its ability to integrate several cryptocurrency exchange programs such as ShapeShift. Users can trade a wide range of cryptos with little or no notable time constraints. However, this cannot be said of Dash Core. Another notable thing with Exodus is that it is offered in lite-node, which also means that you don’t have to download the entire blockchain on your PC. You will require more than 10 GB of free space on your computer to download and use Dash Core as it is offered in full-node. 

Pros and Cons of Dash Desktop and Mobile Wallet

Pros

  • Offers the highest security standard among free wallets
  • It is a multi-coin wallet and supports over 100 cryptocurrencies
  • Private keys are stored on the PC or Smartphone
  • You can access your DASH coins from anywhere across the globe
  • Downloads are free

Cons

  • Private keys can be stolen through phishing
  • Updates should be made regularly
  • The wallet is a full-node wallet and requires individuals to download the entire DASH blockchain that is well over 10GB

Final thoughts 

If you are looking for the best desktop DASH wallet, there is no better option than to try out the company’s DASH wallet itself. They have specially designed their crypto wallet to integrate top-notch security features. What’s more, you can always be sure to remain updated with their latest releases. Try it out, and there is no doubt you will enjoy their services. 

Categories
Cryptocurrencies

Corazon Hardware Wallet In-Depth Review

With a price tag of over $1,000 in its Gold model, Corazon is the world’s most expensive hardware wallet. It is because it is built in partnership with Singaporean luxury accessory and Trezor-creator SatoshiLabs. As you may have guessed, Corazon’s functionally is just as the Trezor Model T. It features premium features such as a titanium casing and plenty of top-notch security features. What’s more, while the design of the Trezor Model Ts can be relatively easy to copy, Corazon’s titanium case is almost impossible to imitate. 

Corazon Crypto hardware wallet

With a price tag of over $1,000 in its Gold model, Corazon is the world’s most expensive hardware wallet. It is because it is built in partnership with Singaporean luxury accessory and Trezor-creator SatoshiLabs. As you may have guessed, Corazon’s functionally is just as the Trezor Model T. It features premium features such as a titanium casing and plenty of top-notch security features. What’s more, while the design of the Trezor Model Ts can be relatively easy to copy, Corazon’s titanium case is almost impossible to imitate. 

With a price tag of over $1,000 in its Gold model, Corazon is the world’s most expensive hardware wallet. It is because it is built in partnership with Singaporean luxury accessory and Trezor-creator SatoshiLabs. As you may have guessed, Corazon’s functionally is just as the Trezor Model T. It features premium features such as a titanium casing and plenty of top-notch security features. What’s more, while the design of the Trezor Model Ts can be relatively easy to copy, Corazon’s titanium case is almost impossible to imitate. 

But besides its highly secure and fantastic design, how does it compare to other cryptocurrency hardware wallets in the market? What are some of the top features? Read on for an insight into everything you need to know about it in this review. However, before we go into details, let’s first take a peek into some of its top features.

Corazon Key Features

OS compatibility: Corazon is compatible with almost any kind of operating system, including Windows, Android, iOS, macOS, and Linux.

Hierarchical deterministic: It is another way of saying that the wallet can be backed up with seed phrases. They are a series of unique passwords that are mainly aimed at helping users retrieve their funds in case the device is lost or stolen. 

User-friendly: The device integrates an easy-to-use interface that is ideal for both beginners and experts. 

Open source: Corazon is open-source, which also means that it is available for anyone to use or suggest changes, which makes it the safest and easy to trust cryptocurrency hardware wallet. 

Multi-currency: The device supports over 700 cryptocurrencies. These include but aren’t limited to Ethereum, Bitcoin, Litecoin, Monero, ZCash, Cardano, Ripple’s XRP, Tether, Tezos, and all ERC-20 tokens. 

Titanium case: Corazon is housed in an aerospace-grade titanium case assembled by GRAY® and CNC machine. 

Password protected: In order to access the device, users are required to use a PIN to be granted access.

Duress passwords: Corazon hardware wallet is specially designed with a unique feature that allows users to set up hidden sub-wallets that can be accessed using one-time passwords.

Corazon Security

Designed the manufacturers of Trezor, Corazon integrates one of the best security features in the crypto world. The wallet has an unbroken security record. Just like Trezor, Corazon has no confirmed cases of hacks or any practical attack. It integrates several unique security features such as a titanium casing that is more durable than Trezor’s. Among other security features include hierarchical deterministic settings that allow users to back up their seed phrases.

These phrases can be used to retrieve funds in the event users forget or lose their passwords. Additionally, Corazon provides its customers with a duress password that can be used to open hidden sub-wallets. All you have to do is activate the feature during set up. The device is also open-sourced, which means that it is made available to everyone, and users can suggest changes, which also contributes to making it one of the safest crypto wallets in the market.

Unboxing the Crypto Device

As the world’s most expensive cryptocurrency hardware, Corazon’s packaging is premium. First off, the box is sealed with two tamper-proof features that are “government-issued” and is quite clean. The device is also sleek and minimalistic. It has a unique titanium-case design, which carries over to the box’s contents. Under the foam piece are crypto-related documentation and a recovery seed card used to record the back up to their private keys.

Under that is a relatively long USBC-to-USB cord. Notably, the codes seemingly look a lot better than the majority of Amazon’s. Overall, the company has ensured it has lived up to its long reputation is building stellar aesthetics and high-end product designs. The device’s physicality is, without a doubt, phenomenal. Besides the material used in its design, it has a subtle finish, brushed texture, and a lovely space grey color. 

Set up and Configuration

Setting up the device is quite simple. All you are required to do is follow the prompts. Below is a detailed guide on how to go about it:

Step 1: Visit trezor.io

Type trezor.io in your browser and select the Trezor Model T product

Step 2: Install Trezor Bridge and follow the prompts 

Here, you will be required to follow the prompts on your browser to install Trezor Bridge. 

Step 3: Install the system firmware

Plugin the device into your computer and install the firmware. After doing so, unplug the Corazon device and re-plug it in after installation. Refresh the site, and you will see a welcome message.

Step 4: Create a new account

After the welcome message, you will either be prompted to create a new account or back up your account. In this case, let us choose to create a new account.

Step 5: Create your backup

Immediately after creating your new account, you will be prompted to create a backup. It is imperative to ensure you have the backup to be assured safety if you lose your wallet. 

Step 6: Write down the backup

Here, you are required to write down the backup phrase as they appear on the app. You can use the swipe button to bring up the next. Ensure you right down the right words to avoid inconveniences in the future.

Step 7: Name your device

The best thing about Corazon is that it provides you with the ability to name the device. You can comfortably brand the device with your name or nicknames. 

Step 8: Assign PIN

Here, you will be required to set a PIN that will suit you best. You can use it to access the device whenever you see fit.

How to Use The Device

Here is an insight into how to use the Corazon device:

  1. Start by selecting the cryptocurrency you want to send or receive.
  2. Press “receive” or “send” on the tab on your wallet.
  3. Choose “show full address” to reveal the receiving address when sending funds.
  4. To make a payment, go to send payment and select “send.”
  5. Paste the recipient’s address and input the amount you want to send
  6. You can go ahead and send your desired amount.

Customer Support

Besides the fact that it is one of the most beautifully designed crypto hardware wallets in the market, Corazon offers exceptional customer care support. It integrates a dedicated team of crypto enthusiasts that are mainly aimed at ensuring users get the best out of the platform. You can either contact them via email or live chat 24/7.

Further, their support team also helps their users to verify messages and use their private keys to connect to either their Mycrocrpto or Mytherwallet as their Ethereum network signatory. They also help users exchange currencies directly with the Trezor app. All you need is to contact them via live chat, and you will be guided on the process.

Notably, among some of the partnered crypto exchange companies include Change Now and Changelly. All you need to do is ensure your quoted Bitcoin cash network fee is less than $0.01, and you will be good to go.

How Does Corazon Compare to Other Wallets?

The best and most obvious comparison is Trezor. The device is capable of providing users with the most secure way of keeping your cryptocurrency safe from any online attack. However, that does not mean that Corazon does not integrate all the above features. It goes further and beyond to offer fantastic design and a titanium casing that ensures users are provided with the highest form of security. 

Pros and Cons of Corazon Hardware Wallet

Pros

  • Features a touch-screen LCD 
  • Has a premium built quality
  • Multi-currency
  • Titanium sealed 
  • It has a beautiful design
  • Hierarchy deterministic feature 
  • Military-grade security

Cons

  • Has a high price tag

Final Verdict: Is Titanium Trezor Corazon Worth Your Money?

Based on the above review, there is no doubt that Corazon has proven to be quite an expensive device for anyone looking to invest in a crypto wallet hardware for the first time.

If you are looking for a premium crypto hardware wallet that is capable of guaranteeing top-notch security, you should try out Corazon. Having been manufactured by the Trezor’s team, there is no doubt that you will get the highest protection for your funds. The majority have tried it out and experienced exceptional results, why don’t you try it out and experience it yourself.

Categories
Cryptocurrencies

Coinapult Wallet Review: Features, Pros and Cons, Privacy, and Supported Currencies 

When we talk of crypto wallets with a highly sophisticated security system, Coinapult leads the pack. The wallet was established in 2011 and boasts a team of specialists dedicated to providing crypto enthusiasts with a secure and easy way to send or receive cryptocurrencies. 

Coinapult crypto wallet app

When we talk of crypto wallets with a highly sophisticated security system, Coinapult leads the pack. The wallet was established in 2011 and boasts a team of specialists dedicated to providing crypto enthusiasts with a secure and easy way to send or receive cryptocurrencies. 

When we talk of crypto wallets with a highly sophisticated security system, Coinapult leads the pack. The wallet was established in 2011 and boasts a team of specialists dedicated to providing crypto enthusiasts with a secure and easy way to send or receive cryptocurrencies. 

In 2015, they teamed up with Crypto Capital, a licensed financial institution, to offer seamless transactions and facilitate the accessibility of Bitcoins across the globe. Headquartered in Panama City, Panama, one of the top features at Coinapult is its security. It integrates SSL-encryption and two-factor authentication, plus their wallets have the multi-signature feature, which significantly enhances its security. 

Coinapult is easy to use and integrates intuitive features such as Tender Wallet Bot (Telegram), which allows users to send funds to other users through the in-app chat. In this Coinwallet crypto wallet guide, we take an in-depth look into its features, pros and cons, privacy, and many more. However, before we get into details, let’s first explore some of its top features. 

Coinapult wallet features

Superb security: Security is the greatest concern at Coinapult. For this reason, the wallet integrates a couple of top-notch features, including enhanced protection from DDoS attackers and SSL encryption. It also features such advanced security features, email reports of logins, and many more.

OS compatibility: Coinapult is also compatible with almost any operating system, including API, Web Interface, Windows, iOS, and Android. All you need to do is install the app. 

Traditional currency support: Unlike the majority of crypto wallets, Coinapult integrates a couple of traditional currencies, including US Dollar (USD) and Euros (EUR).

Security features

Password encryption: Apart from an elastic multi-stage wallet strategy that ensures 80 to 90% of your funds are secure, Coinapult uses an additional password protection mode to secure its users’ funds.  

Cold storage: As an added security measure, users can store their crypto assets or data in a USB-like device in a highly secure offline environment. What’s more, all this data is stored under a multilayered security system under a registered “custodian.”

Offline configuration: The best thing about Coinapult is that its settings can be configured offline. It is possible to configure the most sensitive aspects of your wallet’s security without an internet connection. 

Coinapult Privacy

One of the main reasons why crypto enthusiasts seek the services of Coinapult is because it adheres to privacy. The wallet integrates numerous privacy features such as a 2-factor authentication and a white list option. Plus, 80-90% of their user’s funds are stored offline. 

Moreover, all its transactions are required to pass through an enhanced verification process that requires users to provide their PINs or passwords to access the wallet. Their keys are also stored in an exchange platform to calculate crypto index prices, generate dynamic bidding as well as asking prices depending on transaction classes.  

Supported currencies 

Coinapult prides itself as one of the most popular coins with quite a huge number of currencies in the market. What’s more, it supports both traditional and cryptocurrencies. Below is an insight on some of these coins:

  • Cryptocurrencies supported: Bitcoin (BTC), Litecoin (LTC), Ethereum, DASH, Bitcoin Cash,  and many more. 
  • Traditional currencies: Euros (EUR), US Dollar (USD), Sterling pound (GBP)

In addition to these currencies, Coinapult also offers Gold and Silver commodities trading. 

Setting up the Coinapult wallet

Coinapult maintains one the easiest and fastest method to transfer, send, and accept Bitcoin payments. Below is a detailed guide on how to go about setting up your wallet:

Step 1: Download and install Coinapult

The first step is to download Coinapult. You can find it from Google Play, iOS, macOS. Alternatively, if you are using a desktop platform, you can sign up at https://coinapult.com/signup to create a new account. 

Step 2: Create a new account 

Whether using a mobile or desktop platform, the first step is going to the website’s homepage and creating an account. Ensure that you enter the required credentials before going to the next step.

Step 3: Backup your recovery phrase

This is perhaps the most important step while setting up a new wallet at Coinapult. You will be required to backup your recovery phrase, preferably writing it down on a piece of paper.  

Step 4: Verify your email

After registering an account, you will be required to verify your email before your account can be activated.

Step 5: Choose your ideal currency at https://coinapult.com/locks/

After activating your account, it is imperative to ensure you choose a list of your ideal currencies. 

Step 6: Fill in the total amount you want to send or receive

Key-in the amount you wish to send or receive at the “lock amount” box before heading to the next step.

Step 7: Complete your transaction

After going through all the above steps, your account will be ready for use. You will have successfully sent funds to your desired address through an encrypted .zil domain. It is that simple. 

Note that for a transaction to be successful, the platform should show the resulting invoice of the other transacting party at the top right corner. For subsequent transactions, you are required to repeat these steps. Bear in mind that the quick and easy merchant setup does not include bank statement capabilities. 

How to Send Bitcoin to an Address via SMS

So, what if you don’t have internet access? You can still send funds to any address – as long as they are registered with Coinapult. Technically, the addition of this feature also means that you can send Bitcoin to anyone across the world, with or without the internet. 

The best thing about this feature is that if the recipient does not have an existing account, one is automatically created. They will receive a confirmation message that their Bitcoin has successfully been sent and stored in their wallet as well as instructions on how to withdraw these coins.

To use the SMS feature, however, you will need to key in certain commands.

First, you will need to sign in and add your phone number. Use the command “send” + recipient’s phone number + {amount of Bitcoins}. Below is an example of such a command:

You: send +57744433331.3456

Coinapult: Send 3.4995btc to 8885532221 and Respond “yes 1q2hj6” to confirm

You: yes 2r4hh4

Coinapult: Funds sent. Balance: 4.56btc

Wallet security 101

Now that you have successfully created your Coinapult wallet, there are several things you should take into consideration. These include:

  • Watch out for malicious malware on your PC: Some malware is capable of using vulnerabilities in your PC to access your private keys. Ensure you have installed a powerful antivirus to enhance your safety.
  • Keep your recovery phrase safe: Note that in case you lose your “word seed,” “recovery phrase,” or “root key,” it is impossible to access your account. 

Customer support

Coinapult takes pride in its exceptional support team. They provide their customers with real-time feedback via their email or live chat. What’s more, they offer a plethora of user-friendly guides as well as a detailed Frequently Asked Questions (FAQs) section. 

Additionally, you can also contact them via their interactive social media platforms, including Facebook, Twitter, and LinkedIn accounts. 

Coinapult Wallet Compared to Other Competitors

Coinapult is indeed one of the most secure crypto wallets with sophisticated security features. It integrates 2-factor authentication and has a centralized validation mode of transaction. Further, it is quite easy to send or receive funds to the crypto wallet. You can even send your coins via SMS, which makes it a better method for individuals without an internet connection as well as for on-the-move transactions. 

All you need to do is follow the prompts while sending SMS commands, and you’ll be good to go. What’s more, it also features some amazing features, such as sending Bitcoin via email or directly from the Telegram app. The ability to integrate these unique features makes it one of the best platforms in the market. 

Pros and Cons of Coinapult Wallet

Pros

  • Its security is top-notch
  • The registration process is quite easy and straightforward
  • It is open-source
  • 2-factor authentication
  • Multi-signature

Cons

  • One may consider their customer support sluggish

Final Verdict: Is Coinapult Wallet Worth Your Money? 

Although Coinapult is not the top-rated crypto wallet in the market, it has gained a reputation and features among the safest platforms. It would be the go-to option for crypto enthusiasts looking for a Bitcoin wallet that supports such traditional currencies as the US Dollar (USD) and Euro (EUR). 

Categories
Cryptocurrencies

Mycelium Wallet Review 2020: Features, Fees & Ease Of Use

On the Mycelium website, the Mycelium wallet is referred to as the ‘Default Bitcoin Wallet.’ Probably because Mycelium is by far the oldest and one of the most reputable smartphone-based bitcoin wallets. Introduced to the market in 2008, Mycelium has undergone a raft of improvements and integrations to make it the safest Bitcoin storage hubs. Over time, the wallet has also gained the title of the most versatile wallet given the numerous third-party services it has safely integrated onto its network. But what sets it apart from the rest of the smart app wallets?

On the Mycelium website, the Mycelium wallet is referred to as the ‘Default Bitcoin Wallet.’ Probably because Mycelium is by far the oldest and one of the most reputable smartphone-based bitcoin wallets. Introduced to the market in 2008, Mycelium has undergone a raft of improvements and integrations to make it the safest Bitcoin storage hubs. Over time, the wallet has also gained the title of the most versatile wallet given the numerous third-party services it has safely integrated onto its network. But what sets it apart from the rest of the smart app wallets?

On the Mycelium website, the Mycelium wallet is referred to as the ‘Default Bitcoin Wallet.’ Probably because Mycelium is by far the oldest and one of the most reputable smartphone-based bitcoin wallets. Introduced to the market in 2008, Mycelium has undergone a raft of improvements and integrations to make it the safest Bitcoin storage hubs. Over time, the wallet has also gained the title of the most versatile wallet given the numerous third-party services it has safely integrated onto its network. But what sets it apart from the rest of the smart app wallets?

We answer this by looking at some of Mycelium wallet’s security features, ease of use, and proposed updates to the wallet’s functionality. We will also tell you if the mobile wallet truly lives up to its reputation.

Mycelium Key features

Smartphone-based: Mycelium is an app-based crypto wallet implying that it is compatible with both Android and iOS operating systems. It is hosted on a smartphone, effectively making it one of the most portable and easily accessible bitcoin wallets.

Integrates with hardware wallet: Mycelium wallet’s versatility makes it possible to integrate the mobile phone wallet with popular hardware wallets. These include KeepKey, Ledger Nano S, and Trezor.

Hierarchical Deterministic: The fact that Mycelium is an HD wallet implies that one can derive future bitcoin addresses from the master seed, easing the wallet recovery process.

Mycelium local trader: Unlike exchange backed wallets like eToro, Coinbase or BitMex, Mycelium is a stand-alone wallet. It nonetheless features a decentralized exchange-like marketplace that facilitates the exchange of bitcoins for fiat currencies between users. Dubbed the “Mycelium Local Trader,” the marketplace also features an end-to-end encrypted chat service.

Integration with third-party service providers: Mycelium bitcoin wallet partners with three main third party service providers Cashila, Glidera, and Coinpult. Cashila makes it possible for Mycelium users within the Euro SEPA zone to settle their bills. Glidera allows US and Canadian users to buy bitcoins with their bank balances. Coinpult, on the other hand, makes it possible for Mycelium users to hedge bitcoins against popular currencies like USD.

Security features

Pin code protection: After downloading the mycelium wallet app and installing it in your device, you will be asked to set a unique pin code. It prevents illegal access to your wallet and private keys and will be required every time you wish to log in, check balances, and confirm transactions.

12-word recovery seed: During the installation, Mycelium provides you with a 12-word recovery seed that you can use to reclaim your wallet. You will need to recover your bitcoin private keys should you lose the phone or forget the Mycelium bitcoin wallet password.

Watch-Only accounts: A watch only account allows for the storage of just the bitcoin address and not its corresponding private keys. You can then track the receivables into your wallet and monitor the coin balance while making it impossible to send out coins from the wallet even if hackers accessed your login details.

Military-grade encryption: The Mycelium bitcoin wallet encrypts your bitcoin address and private keys therein with the military-grade AES-256 bit encryption technology. The two are also never stored on the Mycelium servers.

It does not collect private data: Mycelium further commits to not collect sensitive personal information from its product consumers. It will only obtain your bitcoin address, location, nickname, and trade history while promising not to share it with any third parties.

Currencies supported

Mycelium is a bitcoin wallet and will, therefore, only support the legacy cryptocurrency. 

Integration with different third party services and the introduction of the Mycelium Local Trader have nevertheless made it possible for Mycelium users to exchange Bitcoins for fiat currencies like USD and Euro. If you want access to a huge number of currencies without losing access to your Mycelium wallet, consider integrating it with such hardware wallets as Ledger Nano and Trezor that support 1000+ crypto coins and tokens.

Mycelium wallet cost and other fees

You won’t be charged to download, install, and interact with the Mycelium bitcoin wallet. A transaction fee of between $2 and $7, however, applies every time you send bitcoins or seek to exchange your coins with fiat currency. The fee varies depending on the size of the transaction.

Setting up the Mycelium wallet:

How to install Mycelium one wallet:

Step 1: Download the Mycelium bitcoin wallet from the Google playstore for android users or the App Store for iOS smartphones and proceed to install the App.

Step 2: After the installation, open the wallet and select the “Create New Wallet.”

Step 3: The first step in creating a wallet is setting your PIN. This will be required for all future logins, memorize it.

Step 4: After confirming the PIN code, the wallet will provide you with the recovery seed made of 12 random words. Write them down on a piece of paper and keep it safe.

Step 5: You are now set and can start sending and receiving bitcoins or transacting in the Mycelium local trader.

Sending and receiving coins:

To receive funds into your Mycelium bitcoin wallet:

Step 1: Log in to your Mycelium bitcoin wallet and select receive bitcoins

Step 2: The page will display a QR code and your bitcoin address.

Step 3: Have the sender scan the code or send them the address.

To send payments from your Mycelium bitcoin wallet:

Step 1: Log in to your Mycelium bitcoin account and select the SEND option under the BALANCE tab of the wallet

Step 2: Paste the receiver’s bitcoin address you had copied to the clipboard or type it manually.

Step 3: Choose the currency – Bitcoin, USD, EUR – you wish to send and enter the amount

Step 4: Confirm the details authorize the payout using the PIN code.

Mycelium hardware wallet pros and cons:

Pros:

  • Mycelium presents its users with a wide range of features that ease its use.
  • Its open-sourced code has been vetted vigorously to seal all security loopholes.
  • One of the few wallets with an independent fiat-to-crypto exchange
  • Integrates with several third-party service providers
  • Compatible with popular hardware wallets

Cons:

  • The mobile wallet isn’t as secure as hardware wallets that store private keys offline.
  • Will only support bitcoin cryptocurrency.
  • Bitcoin investigators can use the information the wallet collects to reverse-trace a transaction.
  • Mycelium is a hot wallet and not immune to hacking, phishing, and malware corruption threats.

Mycelium wallet compared to competitors:

Mycelium may be referred to as the default bitcoin wallet, but recent years have seen the offshoot of several smartphone crypto wallets like Jazz and Cryptonator. Unlike the two, Mycelium is open source, which gives an upper edge when it comes to the security and integrity of the mobile wallet. The two, however, take advantage of Mycelium’s rigid approach to the crypto market by supporting multiple digital currencies as Mycelium sticks to Bitcoin. One may also consider the Jazz wallet’s user interface quite friendlier. 

Upcoming ‘massive upgrades’

On their website, Mycelium argues that while their wallet has, for the longest time, been a great tool for Bitcoin users, its time to share this goodness with everyone else. To make this possible they have come up with a raft of proposed upgrades to the bitcoin wallet including:

  • Integrating inexpensive remitters
  • Introducing wallet-linked and in-wallet-issued debit cards
  • Escrow protected bets and transactions.
  • More efficient hedging and investment portfolios

Customer support:

Mycelium’s customer support starts with a relatively expanded FAQ page on their website. Wallet users can also ask for assistance by opening a support ticket or contacting them on the different Mycelium social media pages. Mycelium, however, doesn’t offer phone support.

Verdict: Does Mycelium live to its reputation?

Despite the entry of numerous smartphone-based crypto wallets into the play, Mycelium remains one of the most popular. Some of the factors giving it a competitive advantage include its ease of use, inexpensive transaction fees, and a proven track record of keeping client private keys secure. While we fault its decision to stick to bitcoin transactions despite there being over 1000 cryptocurrencies today, we still believe that it is worth having.

Categories
Crypto Daily Topic

An Investor Loses $45m worth of Crypto via a SIM Attack 

The crypto community is still reeling from the news of an alleged theft of $45 million worth of crypto from an investor through a SIM-swap attack. The attack is thought to have been a $30M Bitcoin Cash Attack and a $15m Bitcoin attack.

The crypto community is still reeling from the news of an alleged theft of $45 million worth of crypto from an investor through a SIM-swap attack. The attack is thought to have been a $30M Bitcoin Cash Attack and a $15m Bitcoin attack.

The crypto community is still reeling from the news of an alleged theft of $45 million worth of crypto from an investor through a SIM-swap attack. The attack is thought to have been a $30M Bitcoin Cash Attack and a $15m Bitcoin attack.

Using the username zhoujianfu, the alleged victim of the attack posted a link to the transaction history of Bitcoin Cash on Reddit’s Bitcoin community platform, adding: “is my address, goddamnit. It only had three confirmations, if any miners/the community can help somehow, I’ve got the private keys. Help help help…big reward, obviously.” He added, “Also for what it’s worth, they got $15m in BTC too…” The first post has since been deleted. The Reddit account appears to belong to Dreamhost founder, Josh Jones.

Due to the sheer magnitude of the attack, many community members had trouble believing its legitimacy. Some believed it was a troll attempt while others thought it was negligent to entrust crypto holdings in a SIM company.

What is a Crypto Sim Hack?

A crypto SIM attack happens when someone pretends to be you and convinces your mobile service provider that you have to transfer your phone number into a new phone. In reality, they’re taking your phone number and associating it with a different SIM card in their possession.  

You’ll know a SIM attack is successful when your phone stops registering the four network bars, and you can’t call or receive a call. Once a hacker gains control of your number, any information tied to it is now in their hands, including data, phone calls, text messages, passwords,  email, social media, bank accounts, and crypto holdings information. Not to mention that your 2-factor SMS authentication with your wallet is now in their hands. A hacker looking to steal cryptocurrency will usually scour for proof of crypto holdings and use your passwords to steal your crypto.

How to Protect Your Crypto from a SIM Attack?

Note that crypto transactions are irreversible, which makes a case for securing your assets even stronger. Storing your crypto information makes them susceptible to attacks – SIM swaps are an unsophisticated but effective method of transferring somebody’s information.

The first thing to know is that you should always store large amounts of crypto holdings in a secure location. Such a location and the safest thus far for crypto is a cold storage wallet. Cold storage wallets are those that when signing in or transacting, you don’t need to interact with an online server, i.e., your private key is stored offline. As such, a hacker can’t gain control of your crypto account through hacking, impersonation, phishing attacks, and so on.

With cold wallets, you can store keys in devices such as a CD, a paper, hard drive, and so on. A paper wallet is a paper document that has your public and private keys written on it. It has a QR code that will be scanned when you want to make transactions. Remember that you need to protect your paper document from damage from fire, water, and wear and tear.

Also, beware that hacking paper-wallet generator pages is likely to happen. A better procedure is to download a paper wallet app, copy it to a computer not connected to the internet or to a virtual machine, blocked from an internet connection, and create the keys there. For more on pitfalls of paper wallets, read this thread.

A hardware wallet uses an offline device to generate your private keys offline. These wallets look and function a lot like a USB device. When looking for a good hardware wallet, go for popular and time-tested wallets such as Ledger Nano, TREZOR, KeepKey, ColdWallet, ColdCard, OpenDime, and so on.

 

Categories
Crypto Guides

What Is Adaptive Scaling In Cryptocurrency & How Is It Achieved?

Introduction
One of the most important motives behind the invention of cryptocurrencies is that they should have the ability to be an alternative financial system. That is, we, the users

Introduction
One of the most important motives behind the invention of cryptocurrencies is that they should have the ability to be an alternative financial system. That is, we, the users

Introduction

One of the most important motives behind the invention of cryptocurrencies is that they should have the ability to be an alternative financial system. That is, we, the users, should be able to use them just like how the fiat currencies are being used today, but with many more features and ease. While this thought is very ambitious, the journey has already begun with Bitcoin. The total market capitalization of all the cryptocurrencies combined is around $200 BN as of Dec 2019. 66.4% of this comes from Bitcoin alone.

No matter how many cryptocurrencies have come, the craze for Bitcoin didn’t decrease. As this craze was not anticipated during the inception of Bitcoin, the network had to endure scaling issues, i.e., the number of transactions processed per second. New age cryptos are handling scaling issues by incorporating advanced consensus algorithms. But the Bitcoin network wants to stick to the POW as 18 million Bitcoins are already mined out of the permissible 21 million.

Hence it is essential to make some changes to the Bitcoin network to increase its scalability. In this article, let’s see a couple of techniques that have been incorporated in the Bitcoin network to tackle this issue.

SegWit

SegWit stands for the segregation of witnesses. It is a protocol upgrade that changes the way data is stored in the blockchain network. SegWit was first implemented in Litecoin in May 2017, and later, very shortly, it is also implemented in the Bitcoin network by August 2017. Although the primary intention of this protocol is to fix a bug, the side benefit has taken much more significant importance. When the Bitcoin network started, each block size was limited to only 1 MB. As a result, only seven transactions were processed per second, which limits the potential of Bitcoin in the day to day transactions.

The signatures alone occupy 70% of this 1 MB data in the block. Hence it was proposed to eliminate the signature in the block and increase the number of transactions. By doing this, the number of transactions processed per second is increased while keeping the block size constant. This upgrade also enabled technologists to develop a second layer on the Bitcoin network, which allows smart contract functionality. It is named as the lightning network; let’s understand this concept in detail.

Lightning Network

Lightning network is essentially a system of smart contracts built as a second layer on top of the Bitcoin network. This network allows people to send/receive payments instantaneously with way lower transaction fees by keeping them off the main network.

Working

First and foremost, a payment channel must be set up using a multi-signature wallet. All the involved parties can access this wallet with their respective Private keys. The wallet address is then saved in the public blockchain network. The corresponding parties can make Bitcoin deposits to this wallet.

Once this is done, the parties involved can conduct an unlimited number of transactions without ever touching the main blockchain network. Every time the parties involved conduct a transaction, the balance sheet gets updated with the amounts each party holding.

Though the block size of the Bitcoin network has been increased to further cope up with the scaling issues, these were the two most favorable measures taken at the time when needed to make Bitcoin desirable for day to day transactions. We hope you understood the concept of adaptive scaling in a blockchain network. Stay tuned for more interesting crypto content. Cheers!

Categories
Crypto Guides

What Is A Bitcoin Address & Why Should You Know About Them?

Introduction
In our previous articles, we have seen the properties, purpose, and working of cryptocurrencies taking bitcoin as an example. Now, let’s understand what a Bitcoin address is. This topic

Introduction
In our previous articles, we have seen the properties, purpose, and working of cryptocurrencies taking bitcoin as an example. Now, let’s understand what a Bitcoin address is. This topic

Introduction

In our previous articles, we have seen the properties, purpose, and working of cryptocurrencies taking bitcoin as an example. Now, let’s understand what a Bitcoin address is. This topic is vital since It is this address that enables Bitcoin to hold the property of Psuedonomity.

The transactions of Bitcoins are stored in a public decentralized distributed ledger. When we say its a public ledger, anyone can go to the Bitcoin website and check the transactions which are validated in the blockchain platform in real-time. One might wonder, in such case, how the pseudonymity of the user is ensured? Here comes the role of the Bitcoin address.

What is a Bitcoin address?

Two people transact Bitcoins using the Bitcoin address of each other. If we take the analogy of a bank, a Bitcoin address can be compared to the bank account number of a person. One should let the other person know their Bitcoin address for the transaction to happen. A typical Bitcoin address is alphanumeric, with 16-35 characters.

Currently, there are three types of address formats. The address formats only differ with respect to the characters which they begin with. The addresses start with either 1, 3, or bc1. Below are some of the examples of standard Bitcoin addresses.

1BvB6SEYstWetqTFn5Au8m6GFg7xJaNVN2

3J9891WpEZ73CNmQviecrn7iWrnqR4WNLy

bc1qar6srrr78fkvy5l643ly9nw9re59gtzzwf5mdq

Generating a Bitcoin Address

To generate a Bitcoin address, you should first download a bitcoin wallet. A Bitcoin wallet is a software that allows users to send, receive, and store Bitcoins securely. Storing Bitcoins is nothing but storing the private keys of that Bitcoin. These private keys are used to authorize a transaction and thereby unlocking the Bitcoins. More about Private keys and types of wallets will be discussed in further articles. So basically, once you download the wallet, you can generate a countless number of Bitcoin addresses. Every time you want to sell or receive Bitcoins, you can request a new Bitcoin address.

How to use the Bitcoin address effectively?

Even though your identity is not mentioned upfront, you can be traced by your Bitcoin address. Some wallet providers might ask for your identities while creating a Bitcoin wallet. Some times, even your e-mail ID will be linked to your Bitcoin address. So it is always advisable to generate a new Bitcoin address for each transaction you choose to do. Since Bitcoin is a public ledger, anyone can know how many Bitcoins you hold using your Bitcoin address. It is a time-consuming process, but there is a possibility. That is what we are trying to say. However, if a single-use address is used, they can’t know the exact amount you hold.

Since the Bitcoin address is long with alphanumeric characters, it gets difficult for someone to actually type out the entire address to send Bitcoins to you. So the best way to share your Bitcoin address is by getting a relevant QR code. Using a QR code to represent your address is the best way to make your address easily accessible to anyone. Anyone can scan and process the payments just by scanning the QR code without any hiccups.

Conclusion

The Bitcoin address plays an essential role in the entire Bitcoin functionality as it is the face of any Bitcoin transaction. One thing a person will know through your Bitcoin address is the account balance associated with that address. So it is not recommended to share your address publically on any of the social media platforms. As discussed, try to use different Bitcoin addresses every time you transact. However, you can publically share any one of your addresses in order to be extra secure. Cheers!