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Bitcoin has gained burgeoning popularity and is continuing to gain worldwide adoption despite its price fluctuations. With the increasing acceptance of Bitcoins comes the need for a secure wallet to store these digital currencies.
Where you should keep your cryptocurrencies?
Usually, traders store their crypto assets in the exchange’s wallet. These wallets, however, are not considered to be safe because they keep the private keys of cryptocurrencies stored in them within their framework. An example of this is Mt. Gox hack wherein Bitcoins worth approximately $850,000 were stolen presumably from Mt. Gox hot wallet. The private keys are the only possible way to claim the Bitcoins and if these private keys are stored on the server then it increases the probability of frauds.
There are some of the factors which need to be considered while selecting a reliable crypto wallet:
Furthermore, if you are keen to launch your wallet, then you should be clear about the features that can fortify the security of your wallets. Let’s have a look at some of the leading hot wallets and their features so you could gain insight into how to create a Bitcoin wallet app that is secure and acceptable by users.
1. Lumi Wallet
Lumi wallet is designed for both beginners and advanced users. It provides a high level of safety and security to its users. The wallet maintains complete user anonymity and boasts of friendly user interface.
The security within the wallet is maintained with the generation of a private key on a user’s device and it is never sent outside of it. No one can access your mnemonic expect the authenticated user. Lumi wallet makes the transactions secure with safely signing them with the mobile device.
Lumi wallet supports majority of ERC20 tokens. And even the portfolio of digital assets can be conveniently organized by hiding, exposing and shifting the tokens.
2. Ancrypto wallet
Ancrypto is a mnemonic- based semi-HD mobile wallet that allows secure storage and instant transfer of cryptocurrencis. At present, it supports Bitcoin, Ethreum and ERC20 tokens. The Ancrypto wallet is widely used by crypto traders and crypto exchange owners for secure, quick and easy transactions. The features of Ancrypto wallet include:
3. Exodus Wallet
Exodus was founded in 2015 and has been regularly updated across desktop, mobile and hardware. It is a multi-cryptocurrency wallet with an easy-to-use user interface. The wallet places, calculates and organizes the savings with a pie chart portfolio. Exodus even allows you to instantly trade the supported coins through their built-in exchange.
Exodus is partially open-source and allows you to keep your wallet safe and ready for further use. It supports approximately 95 cryptocurrencies.
The features of Exodus wallet comprise:
4. BitGo Wallet
BitGo is a wallet with impressive security features, interactive designing and the modern interface. This multi-signature bitcoin wallet is used primarily for Bitcoin transactions.
Below mentioned are the features of the BitGo wallet:
5. Jaxx Wallet
Jaxx wallet is the product of Kyptokit. It is founded by Ethereum co-founder Anthony Di Iorio in 2013. The wallet has a simple and user-friendly UX. Following are the features of Jaxx wallet:
The hot wallets are in trend as they provide complete user safety and convenience while trading cryptocurrencies.
If you envision building and launching your hot wallet fortified with features like the aforementioned wallet features, or want to comprehend how to create a Bitcoin wallet app, we can assist you while harnessing our technical know-how. We have real-world experience building wallets underpinned by market-leading features for enhanced security and user experience. In addition to building a fully-customized wallet from ground zero, as per your business requirements, we specialize in delivering multi-platform, multi-currency, semi-HD white label wallet in just 3 weeks.
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