jack richer
by on October 14, 2021
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$108.64 billion!!! This number reflects the daily trading volume of cryptocurrencies across the world according to CoinMarketCap. With the surging prices of popular digital assets, there is a serious requirement to store assets safely. Hence, this is an apt time for entrepreneurs to kickstart cryptocurrency wallet development.

What are the different kinds of crypto wallet solutions? 

  • Software Wallets - With most of the NFT marketplaces operating online, hot wallets are an ideal choice for investors. They can choose options like Authereum, Bitski, Coinbase Wallet, Dapper, Fortmatic, MetaMask, Portis, Torus, Trust Wallet, and WalletLink. How to safeguard the rare NFTs? Investors, as well as artists, can use key vaults, private keys and secret passwords.

Further, they can explore features like cross-platform compatibility, email-based login, social media sync options, and integration with crypto exchanges, DeFi platforms, and Decentralized Applications (DApps). 

  • Hardware Wallets - Want an additional source of safety? Offline wallets will help in protecting the digital collectibles of creators and collectors. They can use Ledger Nano S, Ledger Nano X, and Trezor wallets. Cold storage wallets operate as USB devices.

Both NFT artists and investors can use recovery seed cards to prevent hacking and phishing attacks. They will receive benefits like anti-virus protection, chip-based security measures, and PIN-based verification. 

  • Desktop Wallets -  Despite the widespread usage of smartphones, desktop wallets are also in vogue now. Offline wallets such as Ledger and Trezor can be synced with Windows, macOS, and Linux operating systems. Hence, holders of digital currencies will benefit from the ease of use, anonymity, utmost privacy, and the absence of third parties. 
  • Mobile Wallets - With a rapid surge in Internet speeds, mobile wallets are comfortable to use. Users can shield their virtual assets with measures like anti-DDoS protection, end-to-end encryption and two-factor authentication. They can also use a QR code option for processing peer-to-peer (P2P) transactions. 

Wrapping Up 

Since the inception of Bitcoin in January 2009, the crypto sector has grown rapidly. Today, there are around 12671 virtual currencies. Investors receive protection against economic downturns and are free from the control of centralized authorities. Entrepreneurs can also make the right moves now. They can team up with a cryptocurrency wallet development company and earn hefty returns in no time.

Posted in: Business, Technology
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