How the Blockchain Wallet Fits in the Online World

Where do you keep your money? The obvious answer for most people is a wallet. Nowadays, thanks to all technological advancements, the wallet isn’t always associated with a physical object inside your pocket. Instead, there is a blockchain wallet.

Blockchain has revolutionized the payments. It introduced the cryptocurrencies, which are online money with a certain value in the world. They can be utilized for purchasing things online as well as investing. So, the same as the regular banknotes and coins they need a place to be stored. Exscudo is that place. It operates like a platform that keeps your digital money. It can be accessed through a desktop computer or smartphone, depending on the type of wallet you have.

To help you understand more on this topic, in the following paragraphs we’ll strip down the options this wallet provides together with reasons why you need it. Also, we’ll share some useful tips.

Img Source: computerworld.com

Why a Blockchain Wallet?

Unlike the dollar, euro, yen or other currencies, cryptocurrencies don’t exist in a physical form. Instead, they’re digital and need a digital place where they can be stored. Technically speaking, they can’t be kept anywhere.

The blockchain technology invented a special blockchain wallet for these purposes. People keep the private keys for accessing the cryptocurrency address in a blockchain wallet. These private keys when paired with the public keys are crucial for the execution of the transaction.

With a couple of types of blockchain wallets out there, make sure that you research thoroughly. Only that way you’ll find the one that suits your preferences best.

Img Source: ethnews.com

Options the Blockchain Wallet Offers

It’s a fact that this wallet isn’t responsible only for storing your cryptocurrencies. It has many more features and options that are available to users.

For starters, it represents a simple way to do banking on your mobile. Moreover, you can use the money to purchase things online or invest them. Also, you can receive some from other people. Connected to this, it supports almost all currencies and can be connected to a bank account for making transfers quickly. And you can deposit money to it from any bank and card.

Finally, it’s worth mentioning that you have the option to issue a card based on the blockchain wallet.

Img Source: medium.com

Tips about Dealing with Security Issues

Among the biggest security threats, you’ll find that computer viruses are always on the top. For instance, a trojan virus can encode your hard drive and the files on it. The owner or owners after that can have access to the links to the wallets and find sensitive information. Malware can also infect your PC. And all of the cryptocurrencies you own can vanish.

A solution for all of that is obtaining maximum protection through multi-signatures, extra layers of security with two-factor authentication, and more. Try to stay away from wallets that need the Internet, too.

Img Source: newsroom.intel.com

 Over to You

It’s your turn now. Do you believe that blockchain wallets are the next big thing? Would you have one or do you have it already? We encourage you to share your thoughts and experiences with us.

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