If you’re looking to enter the cryptocurrency market and looking for both a trading platform and a secure crypto wallet, you should understand a little about what you need to safeguard. Cryptocurrency is one of the most secured currencies out there because unlike regular currency which gets stored in online bank accounts and often managed by third parties, transactions made through cryptocurrencies are peer-to-peer and use a blockchain instead of centralized servers. The decentralized technology cryptocurrencies run on does make the user much less vulnerable to fraud or theft, but you still need to have an awareness of personal security when using cryptocurrency. A wallet which serves as a portal for a cryptocurrency transaction can also serve to secure it.
What you have involved specifically with crypto wallets are wallet addresses, and public and private keys. The main idea is keeping your private key secured because this is basically the door to opening the wallet. QR codes are also used to verify transactions just as they’ve started to become mainstream with regular retail products to prevent them from being counterfeited. Your wallet doesn’t technically store your crypto coins, but it is essentially the portal to making sure you receive them. So how do you go about choosing the best wallet and why should Jubiter be where you get your cryptocurrencies and wallet?
There are different kinds of wallets that can keep your digital currency safe including web-based wallets, desktop wallets, paper wallets, hardware wallets and a few others that are hybrids. You need to decide which is most beneficial for you, and online wallets have the advantage of being stored in a server or cloud where you don’t have to worry about losing it if your device ends up losing power or getting destroyed, but it can be vulnerable to hackers who get control of the wallet’s server. Paper and hardware wallets can only be compromised if someone were to gain physical access to them, but you also could risk losing your digital currency if you lost or ruined the paper or device. Using a company like Jubiter which provides digital wallets is a great idea because they have enhanced authentication including 2-step methods to prevent your cryptocurrency data from being compromised.
It’s important to know that most wallets are designed to only transfer one kind of cryptocurrency, so when you open a wallet with Jubiter you need to make sure you know specifically whether it’s for Bitcoin, Litecoin, Ethereum or another currency. Jubiter’s wallets are all free so you can sign up for as many wallets as required, and they all have unique wallet addresses. The service is available in most locations, but there are a few states in the US and countries that have some unclear or prohibitive laws in place that make it difficult to operate cryptocurrency exchanges, so you will need to check to see if Jubiter is supported in your area. But if you do have any questions about cryptocurrency or its wallets, Jubiter is ready and able to answer them.
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