A cryptocurrency wallet is a special high-tech program that allows you to receive, send and store cryptocurrencies. there are cryptocurrency wallets that only work with one cryptocurrency. There are also multicurrency crypto wallets. Let’s explain in more detail. Website development — jaxx website started in 2014. It features advanced features and can be configured as follows Cross-platform support: Shapeshift platform integration allows fast Cryptocurrency exchange.
What is a cryptocurrency wallet? Basic principles of work
A cryptocurrency wallet is a set of software and / or hardware methods that allow you to buy, sell, store, and transfer cryptocurrencies to other users. Its functioning is subordinated to blockchain technology, as well as the functioning of the entire cryptocurrency market. A cryptocurrency wallet is provided to the owner.
- Reducing costs and accelerating financial transactions. Improving the security, transparency and availability of transactions.
- Anonymity, security of personal data and cryptocurrency guarantee.
- Ease and simplicity of buying and selling digital currencies on the exchange website.
- Permanent and irreversible operations.
- Online coin storage
Web wallets can be purchased from developer sites, cryptocurrency exchanges, and other specialized resources. Unlike cold cryptocurrency wallets, web resources work with many coins. However, they are much less secure than the desktop versions and are therefore suitable for small amounts. An online cryptocurrency wallet requires just two minutes of registration; there is no need to download the program and install it on your computer. In terms of functionality, it is not inferior to a desktop application with a full set of functions of a multicurrency crypto wallet. The holder provides the opportunity to simultaneously store a huge amount of digital assets, convert one coin to another and pay for goods and services.
Multicurrency wallets allow you to view your transaction history by email or SMS. Before registering an online wallet, you need to check the reliability of the service. New sites do not have a high level of protection against hacker attacks, so it is better to choose a trusted resource that has been working for more than one year. There are a number of cases where huge amounts of money have been stolen from user accounts. To improve security, online services are gradually introducing two-factor authentication and SMS verification.
