Today digital wallet is maybe the fastest and easiest way to pay for goods and services over the internet. They differ in currency, fees and country of residence, but mainly the provided financial services do not depend on geographical or other restrictions, making digital wallets popular worldwide. Today we decided to pay our attention to so-called cryptocurrency wallets that operate with relatively new but rapidly growing virtual internet currencies like Bitcoin.
According to numerous opinions, HolyTransaction is the most reliable and easy to use web wallet for noobs. It supports 9 cryptocurrencies, two-factor authentication, “hot” and “cold” access and has good and understandable API with decent support. It’s almost free – so low are the transaction fees if compared to the competitors.
And now about the cons – this service exists only in web interpretation – no standalone or mobile applications are available. Also there is no support for multiple signatures and HD wallet technology is also not implemented here. Keys are stored by a third party, service is not an open source and user may have problems if using the service not in Chrome.
This is the second most popular service. Free, based on open source, has an impressive list of 43 cryptocurrencies, has sharing and backup tools in HD wallet; completely anonymous and has multilanguage support. User is the only party to have access to the keys, access to the wallet is granted with the help of keyword.
Disadvantages: no two-factor authentication and multi signature support, the application exists only as an Android app. Support is not very friendly with beginners. No financial instruments.
The project offers instant currency exchange and withdrawal to Yandex.Money, Visa and Mastercard, has two-factor authentication, is private and has mobile apps for iOS, Android, backed up by analytics. There is a premium account for $ 4.99 per month with favorable rates on transaction and currency exchange. It supports 11 cryptocurrencies and has good approach to business clients – separate support and personal cabinet for e-commerce with API.
Cons: keys are stored by third party, the source code is not an open source. Backups and multisignature are not supported. Also there is no app for desktop operating systems.
This is a relatively new, but interesting service with scottish origin. It positions itself as a Cryptobankand issues prepaid Visa cards of different kinds. It offers its own trading platform, mobile applications and solutions for e-commerce. Other features are similar to Kriptonator mentioned above and has the same drawbacks.
This crypto wallet was launched on March 2016. It supports 15 currencies, according to the data in the personal cabinet, is praised for good exchange rates and referral program that gives up to 50% to the referral. As stated on the site, the project is created by Bitcoin enthusiasts and experts in information security. It offers instant currency exchange, Android-app, API, two-factor authentication and prompt technical support.
Cons: no financial instruments and HD wallet, does not exist on iOS or desktop.
Bitcoin wallet BitGo gives customers the ability to conduct instant Bitcoin payments through blockchain storage. According to the company, the service processes about 300 thousand transactions a month totaling $ 1 billion. The high speed of operations is ensured through the use of BitGo Instant – the technology allowing to accept Bitcoin transactions before they are officially confirmed in blockchain.
However, the operator gives 100% security guarantee. BitGo uses multisignature technology: each transaction requires two out of three secret keys (one key is stored on the server, two – by the user). The wallet supports two-factor authentication and protection against phishing. Starting with March 2016 BitGo is cooperating with HYPR, who specialize in biometric authentication, encryption, and offline storage of biometric data. HYPR Technology eliminates the password. User authentication is performed through crypto token in accordance with FIDO (Fast Identity Online) alliance guidelines.
BitGo cooperates with many digital currency exchanges: Bitfinex, ShapeShift and others, so BitGo users are able to exchange cryptocurrency without leaving the wallet. There is even an API for developers.
Cons: there is a fee for outgoing payments (0.1%).
Each of the above cryptocurrency wallets has both its advantages and disadvantages. However it is obvious that developers of these projects are trying to offer customers a convenient tool for diverse cryptocurrency use. Let’s wish good luck to these services, that make it easier to work with relatively new but already promising virtual currency.
- Posted by Author
- On July 25, 2016
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