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Crypto Wallet

Trust Wallet Review 2021

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Due to past hacks and breaching incidents, most cryptocurrency exchanges have made their security protocols robust to insure their clients’ funds and other details. Despite these precautions, it is always safe to store the crypto holdings in a reputed wallet- either hardware or software. In this article, we will review a software wallet called Trust Wallet, how to use Trust Wallet, what are its pros and cons, etc. Software wallets are applications installed in your mobile devices and thus can be operated at any time. Though they are not as secure as hardware wallets, they are still a better option for storing your crypto holdings instead of storing them on a centralized exchange. At the end of this Trust Wallet review, traders will be able to gauge whether this wallet is a convenient option for them or not.

What is a Trust Wallet?

Trust Wallet is an open-source, decentralized, mobile crypto wallet that supports over 160K+ assets and blockchains and allows traders to stake their crypto coins to earn interest. The wallet was originally designed to hold the ERC20 and ERC223 tokens only but has now been developed to hold other leading cryptocurrencies like Bitcoin. The wallet has a built-in Web3 browser that allows users to buy cryptocurrencies through the native DEX (decentralized exchange) that operates on the Kyber Network. It also allows users to access the various DApps (decentralized applications) built on the Ethereum platform directly through the Trust Wallet app.

Trust Wallet Platform InterfaceTrust Wallet Platform Interface

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The Trust Wallet app can be downloaded for free from the Apple Store or the Google Play Store. It is also compatible with Android devices as its code is written in the native languages of each of the platforms; iOS Swift and Android’s Java. The application runs on iOS 10.0 versions or higher and Android 5.0 or higher.

Quick Summary of Trust Wallet

  • Trust Wallet is a widely recognized software wallet.
  • Binance acquired Trust Wallet in June 2018.
  • Supports a huge range of cryptocurrencies for trading.
  • Offers multiple crypto assets for staking (Trust Wallet token).
  • Trust Wallet does not charge any initial fees or subscription charges from its users.
  • Have over 5 million active users all across the world.

Benefits of Using Trust WalletBenefits of Using Trust Wallet

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How Does Trust Wallet Work?

The Trust Wallet mobile app works in the following ways:-

  • It acts as a bridge connecting individual blockchain networks through their nodes. Every blockchain network has its own set of public addresses, often called the public key. Crypto assets are stored and encrypted in these addresses.
  • Trust Wallet does not hold any cryptocurrencies in its servers; it only gives users access to its wallet.
  • It is a free-to-use app that does not earn anything when users use it. All the gas fees (transaction processing fees) that are accrued are paid to the validators or miners.
  • Trust Wallet helps users to manage their public addresses for sending and receiving cryptocurrencies. The app also allows users to execute other crypto transactions, like trading and staking.

Working of Trust WalletWorking of Trust Wallet

Trust Wallet History

Trust Wallet was founded by a US-based Ukrainian software developer Viktor Radchenko, who first heard about digital currencies via the use of Bitcoin on the dark web. But it was not Bitcoin but Ethereum that urged him to try his luck in the crypto industry. He began to feel motivated when he began to develop a mobile application to help truckers find parking lots and other amenities. After successfully launching the tracking app, Victor gained the confidence to design a wallet that can hold ERC20 tokens acquired through ICOs.

He began his Trust Wallet project in 2017, and soon its functionality with the standard ERC20 tokens attracted thousands of users all around the world for crypto investment by trying the wallet crypto portfolio. The onus of the project was mass adoption of cryptocurrencies which is only possible if the means are easy to use. Letting people buy digital assets through convenient means like a bank account or a credit card will urge them to buy more, and this is what Trust Wallet counts on. It also gives bank-level security to the users.

Thus, the app is made user-friendly by designing an easy interface that is accessible to all. The app’s growing popularity caught the attention of leading cryptocurrency exchange Binance, which acquired the project along with its parent company, Six Days LLC, in 2018.

Use DApp on Trust WalletUse DApp on Trust Wallet

Features of Trust Wallet

Trust Wallet offers the following core features to its users :-

Easy to Use Interface – The user interface of Trust Wallet is simple, straightforward, easy to be downloaded and installed on your mobile devices. This has helped the platform to accrue over 5 million active users to date and also bag a partnership deal with one of the leading cryptocurrency exchanges of the world- Binance.

Free Download – Trust Wallet is entirely free to download from the Google Play Store or the Apple Store. The platform also does not charge any initial fees or subscription fees for its services from its clients.

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Privacy and Security – Though Trust Wallet, by its nature (being a software wallet), cannot ensure security measures as strong as hardware wallets, the platform tries to make sure that the clients’ funds are safe. It conducts regular audits via the leading security firm Stateful.

The app also employs other security measures like pin code scanning or fingerprint scanning to add an extra layer of security. These measures can be manually activated by the user by customizing the “Settings” function in the app as soon as he signs up into his wallet.

Never Stores User Information on Its Servers – Trust Wallet allows users to store the private keys of their wallets in their personal computers rather than storing them on the Trust Wallet servers. This puts the users into sole responsibilities to securely store private keys.

Features of Using Trust WalletFeatures of Using Trust Wallet

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No KYC Confirmation Required – Trust Wallet does not ask its users for any KYC compliances while setting up their account on the Trust Wallet app because it is a non-custodial official crypto wallet app that does not store any user data on their servers.

Allows Staking – The Trust Wallet platform allows staking of Tron (TRX), Tezos (XTZ), VeChain (VET), Callisto (CLO), Cosmos (ATOM), Kava (KAVA), IoTeX (IOTX), TomoChain (TOMO), and Algorand (ALGO). Ethereum (ETH) and Cardano (ADA) will also be added to the list very soon.

In-built Charts – The Trust Wallet app has in-built charts that allow traders to track the crypto prices without having to leave the app.

Partnership with Binance – Trust Wallet’s partnership with Binance Smart Chain keeps more users from all across the world flock to the app, which is expected to fuel the development of advanced and new features on the mobile app in the future.

Easy Backup – Trust Wallet addresses the backup issue faced by most wallets by incorporating a 12-word recovery phrase at the time users set up the wallet in their mobile devices. Users are required to write down these phrases and keep them in a safe place so that they can be used to retrieve and recover access to the wallet if anything goes wrong.

Crypto Staking at Trust WalletDo Staking & Earn Crypto with Trust Wallet

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Trust Wallet Review: Pros and Cons

Pros Cons Free and easy download. Not as secure as hardware wallets. Stores a huge range of cryptocurrencies. Allows staking and earning returns on multiple digital assets held. Users retain control of the private keys; private keys are not stored in the wallet’s servers. Compatible with both iOS and Android devices.

What Wallet Type Is a Trust Wallet?

Trust Wallet is a software wallet that operates as an app installed on a mobile device and thus helps traders to execute trades at any time during the day, even while they are traveling. It is a non-custodial wallet that does not store or save any users’ information on its servers.

Trust Wallet Fees

Trust Wallet does not charge any fees from its users while installing or setting up their accounts on the wallet. There are also no subscription charges for using the wallet’s services. As such, the platform allows for a free download from Google Play Store or Apple Store. The only fees charged on the app are the gas fees which are the fees for processing transactions (network fees) on the app that are either paid to the miners or to the PoS (Proof-of-stake) chains that charge them.

How To Access a Trust Wallet?

Getting started with the Trust Wallet app is pretty simple. All the users need to do is download the app for free, either from the Google Play Store or the Apple Store. Once the download and the installation process are complete, the users are asked to select an option to create a new wallet or import an existing one.

Create a New Trust Wallet

If users choose to create a new wallet, they will be given a 12-word seed or a recovery phrase that should be kept safely. Users need to check in a box saying, “I understand that if I lose my recovery words, I will not be able to access my wallet,” which is self-explanatory that if the seed words are lost, the wallet cannot be accessed.

How Do I Transfer Coins to a Trust Wallet?

To transfer or add coins to the Trust Wallet app, the following steps should be followed:-

  • Sign in to the Trust Wallet mobile application.
  • Click on “Receive” and paste your wallet address in the field mentioned, or else you can also scan the relevant QR code.
  • The senders will use this code or address to transfer coins into your wallet.
  • Click on the “Transactions” icon to review your wallet transaction history, and click on “Confirm” once the funds have arrived.

How Do I Make Payments with a Trust Wallet?

For making direct payments with the Trust Wallet app, traders should try the following steps:-

  • Sign into their Trust Wallet app and click on the “Send” button, a field will open where users need to paste the wallet address of the recipient. Instead of pasting the wallet address, users can also scan the QR code.
  • Enter the amount that you want to send and click on the “Next” button.
  • Review transaction details along with the gas price.
  • Click on “Send.”

Trust Wallet Supported Cryptocurrencies

Trust Wallet supports a total of 160K+ assets & Blockchains with cryptocurrencies including the leading ones like Bitcoin, Ethereum, and many more. Although to check the full list of supported assets then click here.

Customer Support by Trust Wallet

The Trust Wallet mobile wallet is backed by a robust customer support team that can be contacted by a ticketing system. As soon as a ticket is raised by any trader, the customer support team promptly responds to it. There is also a comprehensive Help Centre with a dedicated FAQ section meant to answer all the probable queries of the traders. Users should therefore take a tour of the Trust Wallet mobile wallet before proceeding.

Trust Wallet Customer SupportTrust Wallet Customer Support

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Conclusion

As per our Trust Wallet review, there are no reasons not to qualify the mobile wallet as a reliable one. Also, according to the various other Trust Wallet Reviews available online, customers have praised the wallet and called it a secure multi-crypto wallet without any complaint. Its straightforward interface and a huge range of supported assets make it one of the leading crypto wallet till date. Trust Wallet clearly gives a competitive edge to other wallets with its wallet staking functionalities that most wallets don’t even give the option to its users. Moreover, the wallet confers users the ability to access various DApps through Trust Wallet itself, which is again a far-sighted move that will have long-term benefits as DeFi expands. Its partnership with Binance attracts more users (for money investing) from all over the world and therefore is a plus for the wallet.

FAQs

Is Trust Wallet Safe?

The short answer is Yes, Although according to our Trust Wallet Review, we found out that the crypto wallet app employs a number of security mechanisms to protect client crypto holdings against hacking or theft. And Trust Wallet provides everything, so we can conclude that it is safe.

Is a Trust Wallet Safe For Bitcoin?

Yes, Trust Wallet is a safe wallet for Bitcoins and many other cryptocurrencies.

How Do I Put Money in My Trust Wallet?

Adding money to the Trust Wallet app is very simple. All that the users need to do is log in to their wallet account and click on the “Receive” button and paste your public key (or scanned QR code), wherein the senders would send funds to your wallet.

What Is a Trust Wallet Used For?

Trust Wallet is a software wallet that is used for sending, receiving, and storing Bitcoins and many other crypto assets safely and securely.

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Crypto Wallet

Jaxx Wallet Review 2021

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Cryptocurrency trading is now becoming more and more popular and affordable. Cryptocurrency is a new source of investment and financial growth. But unlike fiat money, cryptocurrencies cannot simply be stored in banks or physical locations, or hardware wallets. Traders need to store their digital currency in digital wallets. Jaxx Wallet is a digital currency wallet that is rapidly gaining popularity because of its easy accessibility and multiple layers of security. However, read the Jaxx Wallet review, and learn all its services in detail.

What Is a Jaxx Wallet?

Jaxx Wallet is a digital currency wallet compatible with more than eighty different digital currencies. It is well known for its user-friendly interface that makes it easy to navigate and shift between all the different stored currencies of a user. Jaxx Wallet can also be seamlessly utilized across multiple devices. Jaxx Wallet also has some other features. Some third-party features let users buy and sell any of the compatible currencies.

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Features of Jaxx Wallet

The most crucial feature of Jaxx Wallet is that users do not need to register for, sign in or log in to an account to use Jaxx Wallet. Following are some other essential features :-

It Can Store, Buy and Sell Various Cryptocurrencies

It can be used to store, buy and sell eighty different cryptocurrencies. All the popular cryptocurrencies like Bitcoin, Ethereum, Bitcoin Cash, Dash, Litecoin are supported on Jaxx Wallet.

It Can Be Used Across Varied Devices and Software

Jaxx Wallet can be used across many different devices and software. It can be used on mobile phones as apps or computers with a desktop version. It works with iOS, Windows, Android, Linux, and Apple operating systems. It is available as a Firefox and Google Chrome browser extension.

Cross-platform Pairing Service

Jaxx Wallet has a cross-platform pairing service, which means that if the user logs into the wallet from different devices, the wallet can be easily paired and synced in all of them.

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Displays User’s Balance Breakup

A handy feature of the Jaxx Wallet is that it displays the breakup of the balance in each user’s digital wallet. This helps traders know exactly how much they can spend. Traders can also see a detailed history of their transactions with each currency.

Camera Scanning

Jaxx Wallet also has camera scanning enabled on the native device so that the user can scan any QR codes necessary for quick digital currency transactions.

Regular News Updates

Jaxx Liberty provides users with regular news updates from the world of blockchains and cryptocurrencies. Users can also track market changes and shifts in prices and rates of different cryptocurrencies in real-time.

Jaxx Wallet Review - Track Pricing Data with Jaxx WalletJaxx Wallet Review – Track Pricing Data with Jaxx Wallet

Is Jaxx Wallet Trustworthy?

The Jaxx Wallet has many different security checks and tools to ensure the safety of its users. It does not take any personal information from the user. This avoids the possibility of data breaches of sensitive information. When using a Jaxx Wallet, the user has to generate a private, secret key. This key will be the only way for the user to access their funds. It will not have any information on this key. It can only be stored on the user’s native device.

The problem is that if due to some reason, the user gets locked out of their device or the device gets damaged, they would permanently be unable to access their Jaxx Wallet assets. For this reason, Jaxx Wallet suggests that users should create a backup seed password that can be used to restore the wallet’s secret key in case the user is unable to access their device.

The backup password is a twelve-word long-phrase strong password that is generated through an industry-standard BIP39 library. If the user forgets their secret key and backup password, they will never reassess their digital assets.

The Jaxx Wallet is entirely safe as long as users do not reveal their secret key and use a backup password. The core of the data on the Jaxx Wallet is encrypted at security levels used in banks. It does not use two-factor authentication.

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Jaxx Wallet Services

  • Jaxx is known for its multi-currency support. Users can save more than eighty different cryptocurrencies on the Jaxx Wallet.
  • It integrates with third-party platforms like Changelly and Simplex, allowing users to buy, sell and exchange among their different cryptocurrencies without leaving the Jaxx Wallet.
  • It has an in-built customer support system. The Jaxx Wallet app has a help feature to chat with their support teams in real-time.
  • Jaxx Liberty has a block explorer feature that helps users track their transactions across different blockchain networks.

Jaxx Wallet Review: Pros and Cons

Pros Cons Supports a wide variety of more than eighty digital currencies. There have been instances of a significant security breach in the past. It is effortless to use and can be used through multiple devices. Users will be locked out of their accounts forever if they lose their secret key and backup seed password. Third-party integrations let users trade between their different currencies. Jaxx Wallet is now becoming Jaxx Liberty, and its application requires regular updates.

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How Do I Set Up the Jaxx Liberty Wallet?

To set up Jaxx Liberty Wallet, users will first have to go to the Jaxx Liberty website and download the version of the Jaxx application that is compatible with their device and operating system.

The user will then be provided with a ‘checksum’ before the download commences. The user should check that the checksum for their download and installation is the same to avoid any security risks. Once the download is completed, the user will find a. EXE file, which they will have to open. The Jaxx Wallet is a 65 MB file, and it usually takes a few minutes to download.

On clicking the. EXE, Jaxx Wallet will begin to install the platform on the device. Once the installation process is completed, the user will see their Jaxx Wallet open on the default page. This page will show the user’s Jaxx Wallet address and their wallet QR code. The default page of the Jaxx Wallet opens on Bitcoins and offers the user’s Bitcoin balance and its US dollar equivalent. Users can easily find the cryptocurrency they want to see or use by scrolling through the drop-down menu of currencies available.

Jaxx Wallet Review - Trade Cryptos with Jaxx WalletJaxx Wallet Review – Trade Cryptos with Jaxx Wallet

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How to Use the Jaxx Wallet?

Receiving Funds

To start using the Jaxx Wallet, users first need to select the currency they want to send and receive. They can go to the top left-hand corner of the platform and find a drop-down menu of currencies. There the user needs to select the money they want to use.

To receive funds, the user can press the receive button on the top of the screen. This will automatically give the user a receiving address that they will have to share with the person sending them the funds. But if users want, they can also generate a unique barcode for the specific number of a particular currency to be received.

The user will first select their chosen currency from the drop-down menu. Then they will press the receive button and put in the number of coins that they will receive. After that, they will press generate, and a unique QR code will be generated for that particular transaction.

Sending Payments

Jaxx Wallet is one of the most secure cryptocurrency wallets. To send funds, users will first have to select the cryptocurrency they want to send and press the send button at the top of the screen. Users will now have to put in the recipient’s wallet address or scan the recipient’s wallet QR code.

The user will have to put in the number of coins they want to send and press send. At this point, Jaxx Wallet automatically shows the real-time dollar value of those coins.

How to Get a Jaxx Wallet Address?

The user may need a Jaxx Wallet address to receive payments. They will first have to choose the currency they are exchanging. Then they can go to the receive option and find their wallet address for that currency. Users can just copy this address for any transactions.

When the Jaxx Wallet first opens after download, by default, it shows the wallet address for the user’s Bitcoin wallet.

Jaxx Wallet Fees

  • The Jaxx Wallet is entirely free, so far as it does not charge the users any fee for its service of storing cryptocurrencies.
  • The Jaxx Wallet app does not cost anything to download.
  • It earns its profits when customers use the ShapeShift application built into its system.
  • When users transfer their digital assets from the Jaxx digital wallet to some other digital wallet, they have to pay some blockchain network fees. The faster the transaction on a blockchain network, the higher is the transaction fee typically.
  • But Jaxx does not earn any exchange fee from this charge at all.

Unity Tokens by Jaxx Wallet

Jaxx Wallet is a product of the mother company Decentral. The Unity Tokens are a feature that Decentral is introducing. The Unity Tokens will be digital tokens like the reward points or benefit points players get in gaming. The Unity Tokens will be awarded for using services that are partners with Decentral. This is part of Decentral’s primary objective of reaching at least 10 million users every single month.

Jaxx Wallet Supported Coins

The Jaxx Wallet is a multi-currency wallet. At present, their list of supported currencies has crossed ninety. Another advantage of Jaxx is that they also support some lesser-known but lucrative digital coins and tokens. Some of the most popular cryptocurrencies compatible with Jaxx Wallet are:-

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Bitcoin Cash (BCH)
  • Dash (DASH)
  • Litecoin (LTC)
  • Unity (JXX)
  • Doge (DOGE)
  • ZCash (ZEC)
  • Ethereum Classic (ETC)
  • Ripple (XRP)
  • EOS (EOS)

Jaxx Wallet Security

The Jaxx Wallet ensures absolute user safety by providing that Jaxx stores no personal information since it is a non-custodial platform. The keys and the passwords are all stored on the user’s device. It is entirely up to the user to maintain the safety of their device. They should also not reveal their security pin or password to even friends and family to avoid all possibilities of a data leak. Jaxx Wallet also uses highly advanced encryption levels to prevent hackers from accessing or hacking user’s wallets. Although, to learn Jaxx Wallet security protocols in detail check this link.

Jaxx Wallet Review - Jaxx Wallet Security ProtocolsJaxx Wallet Review – Jaxx Wallet Security Protocols

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Has the Jaxx Wallet Ever Been Hacked?

A Jaxx wallet was hacked once in 2017 and a user lost ETH worth almost 400,000 USD. But it was not a failure of Jaxx’s security system. The user had unknowingly downloaded their wallet onto a jailbroken phone and could be accessed by users from any network, and the hackers managed to find the user’s backup password. This event proved to users once again the need to ensure the safety of their devices and keys.

However, Jaxx Liberty is part of Decentral’s massive worldwide scheme to expand its business. Decentral’s present trajectory and potential for future growth show that Jaxx may have many new updates in the coming months. Jaxx Wallet’s reviews are all primarily optimistic about their future expansion, making the service even better and safer, and more accessible for users.

Jaxx Wallet Customer Support

Jaxx Liberty used to have a customer support system that worked through social media sites and support team email. But fraudsters, imposters, and hackers found it easy to replicate these and dupe customers. So Jaxx Wallet has now shifted to an exclusively in-app system.

One of the new features on the Jaxx website and the Jaxx Wallet platform is a small help icon on the bottom right corner. Users can contact customer service personnel through this option to solve any problems or find answers to any queries. Jaxx Wallet reviews mention quick and satisfactory problem resolutions.

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Jaxx Wallet Review: Conclusion

The Jaxx Wallet or Jaxx Liberty is a trendy digital currency wallet. It has millions of users who regularly use the platform to store and exchange their digital currencies as it comes under the list of best wallets for cryptocurrency. As per user reviews, the primary concern for users when choosing digital wallets is the ease of use and security. Jaxx Wallet has more or less been able to satisfy both of these concerns. As a non-custodial platform, one of its security features, it has shifted all responsibility of security of assets to the user’s control. On the other hand, it’s easy UI, user-friendliness, the simple integrated ShapeShift feature, and compatibility with supported cryptocurrencies make Jaxx Wallet a perfect choice for digital currency traders.

FAQs

Is Jaxx Wallet Safe?

The Jaxx Wallet is a non-custodial wallet meaning full responsibility of maintaining the safety of their device and password protection is on the user. Jaxx does not take or store any personal information from the user. But the Jaxx Wallet uses very advanced levels of encryption for the extra security of the users.

How Do I Withdraw Money From My Jaxx Wallet?

Jaxx Wallet does not facilitate the conversion of cryptocurrency into fiat money. Users need to transfer the currency from their Jaxx Wallet to an exchange to convert to fiat. This fiat can then be deposited in and withdrawn from the user’s bank account.

Does the Jaxx Wallet Still Work?

Jaxx Wallet is still working and increasing its user base. But it is rebranding to Jaxx Liberty. All the same features and more are available on Jaxx Liberty. But users should ensure that their app is updated to the latest version to access these features.

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Crypto Wallet

CoinPayments Wallet Review 2021

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Cryptocurrencies have high market value these days as more and more investors worldwide show a keen interest in trading. Cryptocurrencies, once bought, are not immediately sold and therefore need to be stored in a safe place. Though they can be stored in the exchange from where they are bought, crypto exchanges are not always safe, and there is no better alternative than storing the crypto holdings in a reliable wallet- whether hardware or software. CoinPayments is a digital wallet that allows users to send, receive or store their crypto holdings safely without incurring any higher fees for using the wallet’s services. In this CoinPayments review, important points like the CoinPayment’s features, CoinPayments fees, how to use CoinPayments, etc., have been included.

What Is CoinPayments?

CoinPayments Inc. is a Vancouver-based crypto payments platform and an online cryptocurrency wallet founded in 2013. The platform enables users to easily transact with leading cryptocurrencies like Bitcoin, Ethereum, Litecoin, and over 1900 other cryptocurrencies. Since its inception, the platform has established itself as an industry leader by fuelling crypto adoption through fast and secure easy-to-integrate solutions for merchants to accept payments in cryptocurrency. These include exclusive e-commerce shopping cart plugins, payment buttons, custom-made APIs, digital crypto wallets, PoS interfaces, and many other business tools.

CoinPayments boasts of its partnership with almost all leading e-commerce platforms, including Magento, Prestashop, Shopify, WooCommerce, Opencart, and lots more. To date, the platform has processed more than US$10 billion in crypto payments serving over 70,000 merchants in over 200 countries all across the world. Thus, with millions of active users, CoinPayments can be considered as one of the world’s most comprehensive cryptocurrency payment platforms. It charges a flat commission of just 0.5%, thereby positioning itself as one of the cheapest payment options in the cryptocurrency industry.

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Quick Summary of CoinPayments Wallet

  • CoinPayments is a comprehensive digital asset payment solution as well as a robust online wallet established in 2013.
  • CoinPayments integrates with leading e-commerce platforms of the world.
  • Hosts advanced technological features like shopping cart plugins, PoS interfaces, APIs, $PayByName, etc.
  • Supports over 1900 cryptocurrencies, including the leading ones like Bitcoin, Litecoin, and Ethereum.
  • Supports Fiat currency settlements for the US or the UK-based customers.
  • Supports mobile applications that are compatible with both iOS and Android devices.
  • Charges a flat commission of 0.5% for all commercial transactions and an additional service charge for using particular services of the wallet.
  • Security breaches reported in 2017, but the team settled the issue within 6 months by paying back the stolen Ripple coins to the users.

Features of CoinPayments

CoinPayments offer the following interesting features to users:

  • Multi-Coin Wallet: There are over 1900 altcoins supported on the CoinPayments wallet, and therefore users get a varied list to choose from.
  • Auto Coin Conversions: This is the default feature of the CoinPayments wallet that allows users to convert coins to other denominations automatically and thus saves a lot of time for the users.
  • PoS (Point of Sale): The Point of Sale feature facilities on the CoinPayments platform support offline stores and accept in-person payments that most other cryptocurrency wallets cannot offer due to the absence of the PoS features.
  • GAP600 Instant Confirmations: This is yet another advanced feature hosted on the CoinPayments platform that allows for faster payment confirmations than any other conventional payment method.
  • Shopping Cart Plug-Ins: CoinPayments supports a shopping cart plugin feature that can be integrated with the existing site of the customers, and therefore customers don’t need to uninstall the existing plugin for installing the CoinPayments plug-in.
  • $PayByName Purchases: This is yet another advanced feature on the wallet that allows customers to generate custom usernames and execute transactions using those names. These unique usernames can also be used by the merchants to accept the crypto after each trade. Users can receive or send payments without the need to copy and paste the wallet addresses.

CoinPayments Wallet Reviews - Features of CoinPaymentsCoinPayments Wallet Reviews – Features of CoinPayments

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  • Fiat Settlements: CoinPayments supports fiat settlement for the merchants settled in the US or UK. Therefore, users can directly link those settlements with their bank account.
  • Vault Service: As the name implies, this feature allows users to securely store their coins in a cold wallet for a specified time before spending them.
  • AirDrops: CoinPayments wallet supports the crediting of AirDropped coins. However, they are credited to the users’ account instead of crediting them to the wallet itself, which sometimes becomes troublesome when users claim those airdropped coins to their individual offline wallet.
  • ICO: CoinPayments at times serves as an ICO hosting platform that allows users to deal with the upcoming ICO’s, including Escrow.

CoinPayments Wallet Review: Pros and Cons

Pros Cons Easy-to-use. Security breaches happened in 2017. Supports multiple altcoins. Offers vault services that add an extra layer of security. Generally, an online wallet but also supports a mobile version of the wallet- mobile app. Flat fee structure.

Getting Started with CoinPayments

Getting started with CoinPayments involves the following steps:-

Account Creation

The account creation process on CoinPayments is pretty simple. Users need first to visit the official website of CoinPayments and click on the SignUp button on the top right-hand corner, which will direct them to a page bearing a form that has two options: Personal Account and Business Account.

Users can choose either of the two, and the respective form will open with some mandatory fields to be filled in by the users. After users register their accounts on the wallet, they need to verify their email account by clicking on the activation link sent to the email account that they used while registering on the platform.

CoinPayments Review - Account SetUp ProcessCoinPayments Review – Account SetUp Process

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Configuring the Merchant Account

After verifying the email id, users can easily log in to their cryptocurrency wallet using the sign-in credentials. Now they are required to configure their Merchant ID, IPN, and other important details. For this, users need to do the following:-

  • Go to the ACCOUNT tab and click on the ACCOUNT SETTINGS.
  • In the “BASIC SETTINGS” tab, one can find the Merchant ID that they need to Save or Copy for later use.
  • In the “PUBLIC INFO” tab, enter the full name and email id, along with the URL displayed publicly to customers for sending payments.
  • In the “LOGIN & SECURITY” tab, change the 2FA method from email to Google Authenticator or any other convenient options.
  • In the “MERCHANT SETTINGS” tab, the user needs to write their IPN Secret code, a random string of characters. Save or copy the IPN Secret code somewhere for later use. Select the base currency and also toggle which notification emails one intends to receive.

Start Accepting Cryptos

Now the user needs to customize the Coin settings, which crypto coins they want to accept as payments:-

  • Go to the ACCOUNT tab and click on COIN ACCEPTANCE SETTINGS.
  • One needs to select the cryptocurrency they wish to accept as payment by checking the box in front of each cryptocurrency and clicking on “Update Coin Preferences.”

These are the minimum settings that one needs to configure to begin accepting cryptocurrency payments (incoming payments) to their wallet. Leave the rest of the options for later use like fiat settlement, crypto coins conversion, payment forwarding, etc.

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CoinPayments Fees

As per various CoinPayments wallet reviews available, it is one of the cheapest wallet service providers globally that charges a flat 0.50% transaction fee for processing crypto transactions. Apart from the transaction fees, the platform also charges an additional service fee from its users for using the various services on the wallet that depend on the transaction rates and the crypto coins in question. But if users wish to convert crypto coins on the platform like BTC to LTC, the conversion rate will be calculated as coin TX fee + conversion partner’s fees. You can get the full CoinPayments Fees structure by clicking here.

Setting Up and Using CoinPayments Wallet

CoinPayments app can be easily downloaded from Google Play Store or Apple Store for free. Log into the account on the CoinPayments platform and select the preferred cryptocurrencies. Then click on either of the two options: Send or Withdraw.

If the user wants to send crypto coins to any wallet address, they need to paste the public address, select the number of crypto coins they want to send, and click on the “Confirm” tab. For withdrawing crypto coins, they need to select the supported payment methods and select the amount they want to withdraw before clicking on the “Confirm” button. There are no withdrawal charges on the platform.

CoinPayments Mobile App

CoinPayments supports a well-built mobile app that is compatible with both Android as well as iOS devices.

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CoinPayments Supported Currencies

CoinPayments supports the following cryptocurrencies:-

  • Bitcoin (BTC)
  • Litecoin (LTC)
  • Bitcoin Cash (BCH)
  • Velas (VLS)
  • Empress Gold (AEG, etc.)

Is CoinPayments a Safe Platform?

Yes, as per the CoinPayments reviews available online, it appears to be one of the safest cryptocurrency wallets that employ the latest technological security mechanisms to protect clients’ money. The platform also never stores users’ private keys instead of letting them save them in their personal devices.

Although an incident of security breaches happened in 2017, many Ripple coins were stolen from the Ripple security databases. However, the team could return the Ripple coins to the holders within 6 months of the breach, which again signals towards the platform’s competencies in securing the client funds. On the other hand, the crypto coins stored in the vaults were safe.

Customer Support

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The CoinPayments support team is very impressive and prompt in delivering ready solutions to all customer queries. All support-related issues need to be communicated via raising a ticket which is responded to within 24 hours. For raising a ticket, users have to visit the support wizard where they will be provided with a support code (that will remain valid for 1hr) and a link to raise a support ticket on FreshDesk.

Users can open a support ticket by using the support code provided on the wizard. Otherwise, the customer support team can also be contacted (not for service-related issues) by filling up a form with the user’s name, email id, subject, and message on it. The customer service team can also be contacted via social media platforms like Twitter, Telegram, Facebook, etc.

CoinPayments Wallet Review: The Verdict

If the infamous Ripple break-in of 2017 can be overlooked, CoinPayments appears to be an amazing wallet and crypto payment solution with many attractive features. The team behind the company is focused on building a multi-functional and safe platform by bringing further advancements in its features and core offerings.

It is also not that easy to find a cryptocurrency storing wallet that supports over 1900 altcoins; CoinPayments is the one. Thus, there are no reasons to dislike the platform. So if one is looking for a best online crypto wallet, they can try CoinPayments, and as per the CoinPayment wallet review, it will meet their purpose.

FAQs

Is CoinPayments Wallet Legit?

Yes, as per the CoinPayments review, the platform appears to be legit and allows users to pay crypto safely and store them in a secure wallet.

Is CoinPayments Safe?

Yes, CoinPayments is one of the safest platforms to store crypto holdings.

Can I Buy Bitcoin on CoinPayments?

Yes, CoinPayments enables users to buy any of the following cryptocurrencies – Bitcoin (BTC), Tether (USDT), Tron (TRX), Ether (ETC), Basic Attention Coin (BAT), Dai (DAI), OKB, and Bitcoin Cash (BCH).

How to Use a CoinPayments Wallet?

Using the CoinPayments wallet is pretty simple. Users need to sign in to the wallet and select their preferred cryptocurrencies supported on the wallet. Then click on the operations that they want to do- send or withdraw. Based on this, they will be directed to a page where they can create a withdrawal, or send money to a particular wallet address or check the fees (gas fees) or history.

Who Owns CoinPayments?

CoinPayments wallet was founded by Alex Alexandrov, whereas leading entrepreneur Jason Butcher has been serving as the company’s Chief Operating Officer since 2017.

How Long Will Transactions Remain in My CoinPayments Account?

Transactions that are canceled or timed out remain in the account for a minimum of 30 days. Other transactions remain in the account for a minimum of 3 years.

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Crypto Wallet

Coinbase Wallet Review 2021

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Most people who became familiar with cryptocurrency were introduced to digital wallets used for storing crypto coins. As the crypto industry gained more ground in the financial landscape, investors and traders started exploring these cryptocurrency wallets in detail. Among these, the Coinbase wallet emerged as one of the most popular crypto wallets in the world. A significant reason behind the popularity of Coinbase wallet is the widespread use of Coinbase Consumer, a decentralized cryptocurrency exchange. In 2021, Coinbase is becoming one of the largest cryptocurrency exchanges in the world. And, the majority of traders invest in Bitcoin through Coinbase Consumer exchange. People are more familiar with this online platform than any other crypto exchange service.

For being in the top three crypto exchanges in the world, Coinbase also offers wallet services with the Coinbase wallet. In this Coinbase wallet review, several aspects of the digital wallet have been explored. From its security and wallet features to its crypto services and customer support, this Coinbase wallet review covers all ground to evaluate this crypto wallet. Let’s get started.

What is a Coinbase Wallet?

To begin with, one must understand the difference between Coinbase and Coinbase wallet. Coinbase or Coinbase Consumer is a web-based cryptocurrency exchange platform. Users can buy, sell, and trade cryptocurrencies on this platform. Coinbase wallet, on the other hand, is a cryptocurrency wallet. The primary function of the Coinbase wallet is to store the crypto wealth of users securely.

Coinbase wallet is considered one of the safest cryptocurrency wallets in the world. Due to its incorporation with the Coinbase exchange platform, investors and crypto-enthusiasts feel safe storing their digital assets on this wallet. Coinbase wallet is a digital wallet, which uses hot storage for cryptocurrencies. This means the Coinbase wallet is a hot crypto wallet.

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Based on the features of hot wallets in the crypto space, Coinbase wallet stores the majority of the crypto coins online. It does not use cold storage services such as hardware wallets and an encrypted data device. However, being a hot wallet, it is also prone to cyber threats and online crypto hacking.

People actively use the wallet to interact with decentralized applications (dApps) on the Bitcoin and Ethereum ecosystems. The wallet can be easily integrated into dApp browsers, allowing users to create Coinbase accounts on all devices, including Android and iOS mobile platforms.

Coinbase, as a company, was launched in 2012 to create a crypto-friendly trading environment. Today, the Coinbase platform handles billions of dollars worth of cryptocurrencies with its exchange services and wallet utilities. Advanced innovations have made Coinbase a reliable and well-funded company in the cryptocurrency market. Therefore, using the Coinbase wallet has become a sought-after choice for crypto adopters worldwide.

Features of Coinbase Wallet

  • Based on online Coinbase wallet reviews, this wallet has had some high-performance features. The wallet is packed with robust security and makes sure that its “hot wallet” status does not lead to hacking incidents.
  • The primary feature of Coinbase wallet is managing private keys and storing cryptocurrency wealth of users directly into their devices. It is used as a hot wallet that is compatible with a hardware wallet, such as KeepKey, Ledger, and Trezor. The wallet is not used as a centralized brokerage or exchange; however, it is used for sending and receiving these exchanges.
  • Coinbase Wallet can be connected to crypto-friendly bank accounts. The wallet also has various features that help users in buying or selling cryptocurrencies at profitable margins. The wallet is also compatible with major fiat currencies such as the US Dollars (USD).
  • The wallet has high compliance features, where certain KYC rules are implemented at the company’s policies. For individuals with uncomfortable credit history, this wallet may not be ideal. Regardless, everyone would like the wallet’s cool features and support services.

Coinbase Wallet Review - Features of Coinbase WalletCoinbase Wallet Review – Features of Coinbase Wallet

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  • A key feature of the wallet is helping users store digital collectibles. Non-fungible tokens (NFTs) are becoming rapidly popular in the digital consumer marketplace. Crypto Punks and Kitties are becoming digitalized as collectibles. These NFTs can be properly stored in the Coinbase wallet. Furthermore, the wallet also helps in buying and selling these NFTs across the internet.
  • The wallet offers secure storage services. Private keys and public keys are tightly protected on the wallet. The Secure Enclave feature is perhaps the strongest security measure developed by Coinbase. In addition to this, cryptocurrencies are protected on the wallet with biometric authentication. This curbs access to crypto money and enables a restricted user-only entry. The optional cloud backups of the wallet are also quite useful for recovering lost private keys and crypto assets.

Is Coinbase Wallet Trustworthy?

Secure Enclave is the biggest reason why people trust this hot wallet. Coinbase is protected by Secure Enclave technology. This technology safely stores the private keys of the user. It uses authentication options such as 2FA to control the access. SMS authentication via verified phone numbers can help in accessing the wallet. The wallet also uses Google Authenticator for exceptional cases. Furthermore, there is a Coinbase wallet app that grants access only via a four-digit security PIN. This PIN can unlock the wallet on the mobile app and also help in authorizing transactions.

Coinbase Wallet Reviews - Is Coinbase Wallet Safe?Coinbase Wallet Reviews – Is Coinbase Wallet Safe?

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The hacking history of Coinbase has been interesting. Considering every measure of security adopted by the wallet, hackers have not been able to take any major chunk of crypto loot from these wallets. They are secure and hold a zero hacking record.

This should answer the main concern “Is Coinbase wallet safe?” Yes, the wallet is safe and follows best practices on safeguarding digital money. Despite being a hot wallet, Coinbase is a leader in securing payment services in the crypto industry. It ensures that security is enforced at multiple levels.

For example, the wallet processes all its traffic over web-based https-encrypted multi-layered SSL. Users can safely store their sensitive user data and should not worry about splitting with redundancy. The wallet encrypts the data with AES-256. It also creates a backup in FIPS-140 USB drives. After that, the drives are safely stored in physical deposit boxes and safety vaults at different locations across the globe.

Services Offered by Coinbase Wallet

  • Coinbase also offers some unique wallet utilities. Being a software product, the wallet provides authorized access to decentralized finance (DeFi) innovations. Users can buy and store their Ethereum ERC-20 tokens on the wallet and link them to DeFi projects. They can participate in online airdrops, which helps them gain crypto coins for free.

Coinbase Wallet Reviews - ServicesCoinbase Wallet Reviews – Services

  • The wallet also supports ICOs. It helps Coinbase users invest in new altcoins and stablecoins at the lowest market prices. Collecting rare digital arts as NFTs and digital collectibles is also an additional service supported by the wallet.

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  • Browsing dApps and shopping at crypto-friendly stores becomes easy with this wallet. Most stores accept Coinbase for its wallet services in sending crypto. People looking to simply invest in digital financial assets can use this wallet. By far, the Coinbase wallet remains the easiest and safest digital wallet to manage, buy, and sell digital currencies.

Coinbase Wallet Review – Pros and Cons

Here’s an overview of the advantages and disadvantages of the digital crypto wallet by Coinbase.

Pros Cons The company is well-funded to recoup lost or stolen digital assets. The wallet may act as a hosted wallet by storing the private keys elsewhere. It protects user control with two-factor authentication. The wallet is currently not supporting Bitcoin storage. The wallet implements multi-signature access for all users. The wallet is completely backed by Coinbase that is a reputable exchange in the crypto world. The wallet has advanced capabilities for providing access as well as restricting access to the digital financial instruments such as NFTs, altcoins, and stablecoins.

Getting Started with Coinbase Wallet

The user interface of this wallet is simple and easy to follow. Developers at Coinbase have made this wallet very user-friendly. It is designed for beginners in the crypto world. First-timers would not find any difficulties while using this wallet.

To get started with Coinbase wallet, follow the three quick steps below:-

#1 Sign Up

Users must provide details, such as first and last names, active email addresses, and phone numbers. This step involves creating a secure password for the coinbase account.

#2 Select Your Account Type

Coinbase users can select the individual account or the business account. These options are designed to suit the needs of crypto users. For high-volume crypto storage, a business account is suitable. Otherwise, the individual user account would be best for the rest of the purposes.

#3 Verify Your Phone Number

After confirming the email address, users are required to verify their phone number with the 2FA method. This phone-based verification is the strongest point of access to the wallet.

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After these steps, the Coinbase wallet users can set up a payment method. This helps them decide on a suitable crypto asset for storage, sending, and receiving. People residing in the European Union countries and the United States can select various payment methods. Credit card payments are the top choice for Coinbase users. Some choose bank transfers for adding funds to the wallet. By verifying these payment methods, the users can easily transfer fiat money in and out of the wallet.

To send or receive digital assets, the wallet users need to select crypto payment methods. These methods are based on the respective crypto ecosystems. However, if the country of residence does not allow crypto transfers, then the users would have to choose payment methods such as digital platforms that can hold coins in off-shore crypto-friendly bank accounts.

Moreover, the Coinbase wallet helps in sending to or receiving from other crypto wallets. Although for further queries related to Coinbase wallet, you can also check this link.

Coinbase Wallet Review – Pricing and Fees

For Android and iOS users, the Coinbase wallet is available as a free download. People can use it without any charges. The wallet is available as a digital mobile application on Google Playstore and Apple App Store.

Transaction fees, however, are applicable to the wallet and exchange services by Coinbase. There are no fees charged for Bitcoin Cash transactions in between Coinbase wallets. Similarly, the users may only pay network fees for transactions with other crypto wallets.

To trade on the Coinbase platform, the wallet users may get charged with a variable fee. This variable fee depends on the payment method. It also depends on the location of the user and the trade order mode, whether standard or instant. Such variable fees come in the range of 1.49 – 3.99% of the transaction amount.

Users are eligible for Coinbase crypto debit cards at an issuance fee of £4.95. These debit cards enable free domestic usage for monthly cash withdrawals of up to £200. Withdrawals above this limit are charged at 1% transaction fee.

dApp Browser by Coinbase Wallet

The dApp browser by Coinbase is created by a third party. It is not owned by the Coinbase platform. Users have to contact the dApp developer to solve wallet issues with dApps. Similar to Trust wallet, Coinbase wallet has a dApp browser that enables simple API for integrating wallet services into dApps. With this browser, dApp developers can create multi-chain Coinbase applications. Currently, the Coinbase API is used for enabling a Coinbase wallet account and signing crypto transactions on iOS and Android mobile devices.

Coinbase Wallet Supported Coins

Like the Coinbase platform, the wallet supports a limited number of digital assets. The list of cryptocurrencies supported by Coinbase wallet includes:-

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Bitcoin Cash (BCH)
  • Litecoin (LTC)
  • Ethereum Classic (ETC)
  • Ethereum 0x Protocol token (ZRX)
  • US-dollar Ethereum (USDC)
  • Basic Attention Token (BAT)
  • Chainlink (LINK)
  • Zcash (ZEC)
  • Augur (REP)
  • Ripple (XRP)
  • Lumen (XLM)
  • Electro-Optical System token (EOS)
  • Dai (DAI)

The wallet also supports the fiat currencies of several countries. People from different parts of the world can add funds to their wallets by using more than 50 fiat currencies, such as US Dollar (USD), Canadian Dollar (CAD), Australian Dollar (AUD), and Euro (EUR), among others.

Coinbase Wallets Vs Other Wallets – Complete Analysis

Coinbase wallets are majorly compared to other hot crypto wallets such as Exodus wallet and Trust wallet. These comparisons are popularly found in online reviews, mostly because Coinbase has one of the largest user bases in the crypto world.

Coinbase Wallet Vs Trust Wallet

Coinbase Wallet Vs Trust WalletCoinbase Wallet Vs Trust Wallet

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Reviewers feel Trust wallet is more business-friendly while the wallet by Coinbase is more user-friendly. The quality of ongoing Trust wallet products, however, is not at par with that of Coinbase. The support features of the Trust wallet are decent. Coinbase wins in terms of wallet features and firmware updates. It also has easy roadmaps for all kinds of crypto users.

Coinbase Wallet Vs Exodus Wallet

Coinbase Wallet Vs Exodus WalletCoinbase Wallet Vs Exodus Wallet

When scored on value for the money, Coinbase offers more cost-effective wallet services than the Exodus wallet. It also emerges as the crypto wallet with the best quality and price ratio between the two. The Coinbase brand adds more value to the wallet users. When it comes to hot crypto wallets, Coinbase holds a higher value over Exodus.

Coinbase Wallet Customer Support

Coinbase customers can connect with the customer service representatives via phone, email, and Twitter. By logging into the Coinbase website, the user can get access to an email support form. This request form has the phone number for making inquiries. Submitting the online form is also helpful to get the best customer support for the wallet.

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Coinbase Wallet Review – Final Thoughts

All things considered, the Coinbase wallet is an excellent option for a cryptocurrency wallet. It is likely to evolve to next-level security and crypto-transactional efficiency in the near future. Despite the limited support for digital currencies, the wallet supports other wallets and fiat currencies. It is easy to use and has the safest utility compared to any other wallet that makes it one of the top online crypto wallet. The wallet is well-tested and serves as a great companion for users of the Coinbase exchange platform. It can be used by digital currency experts as well as beginners. The rigorous security measures, zero-hack history, and its overall solid reputation make Coinbase wallet an easy pick for cryptocurrency buffs around the world.

FAQs

Here are some answers to common questions on Coinbase wallet:-

Is It Free to Use Coinbase Wallet?

Yes, the wallet is free to use. However, it charges 1-4% fees on transactions.

How Do I Get My Money Out of a Coinbase Wallet?

To get money out of this wallet, the user must link it to a crypto-friendly bank account and select Bank Transfer as the withdrawal option.

Is Coinbase Wallet Safe to Use?

Yes, the wallet is safe to use and holds a zero-hack history, unlike any other wallet.

Is Coinbase a Good Cryptocurrency Wallet?

The wallet is good for beginners as well as crypto trade experts. However, it holds limited support for digital currencies.

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