Archive for the ‘OPOLO’ Category

OPOLO wallets welcomes Expanse Coin and Thundercore token, now available on OPOLO wallets platform

Thursday, November 19th, 2020

Starting now, Expanse coin and Thundercore token are a part of the OPOLO wallets family. You can now use these third party applications on OPOLOs firmware.

Thundercore token:

Thundercore is a public chain program that was launched back in March 2019. ThunderCore offers a smart contract interface that is completely compliant with Ethereum, enabling developers to migrate their applications to ThunderCore in just a few minutes; second-level confirmation, cross-chain and other innovations make it much simpler for developers and users. The platform offers instant transactions and it also gathers feedback, insights and data on how the platform is being used by developers to develop decentralised applications.

Expanse:

Expanse is a cryptocurrency that is visualised as completely decentralised and autonomous in a way that almost no other cryptocurrency currently exists.

It was developed as a secure Ethereum fork by valued and trusted cryptocurrency developers James Clayton, Christopher Franko, and Dan Conway. Expanse tried to distinguish itself by not using an ICO to crowdfund the currency, but through generating value through the goods that its team builds on the platform.

They also have a smart contract system known as Borderless Technology that is very quick to use and forms the DAO (decentralised autonomous organisation).

OPOLO Wallets:

This is one of the most secure hardware wallets in the market today. The wallet is completely encrypted with an SE chip and offers the longest passphrase setting in the entire market. Moreover, the wallet is EAL6+ certified in both hardware and software. With OPOLO you get a user friendly interphase and an integration of thousands of tokens and more than over a hundred coins.

How to send and receive digital currency?

Thursday, November 19th, 2020

Sending, receiving and exchanging digital currency is easier than ever before. OPOLO wallets give you one platform where you can send, receive, manage, and even exchange different cryptocurrencies all in one place. How? Just keep reading and find out for yourself.

When you want to send or receive cryptocurrency, it is important that you first get a cryptocurrency wallet. Once you have your wallet set-up and ready to use, you will first need to type in the public address of the one receiving the digital currency or give your public address to the recipient, who will put it into his/her cryptocurrency wallet to receive.

This is a very simple task, some wallets have a QR code scanner for this purpose, and on others, you can simply copy and paste the address. After this, chose the amount that you want to send (some wallets require additional information, add as asked), and then press send (or whatever your wallet has named the send button).

For the user, this is as much as they need to do. Once the transaction is made, it is sent to the public ledger, also known as a blockchain, for verification. When, the transactions are verified through cryptography, they are unable to be reversed.

Advice for the anxious user:

If you are one of the anxious types of people and are worried about the status of your transaction, you can check the status of it on the blockchain using block explorer of the coin you have sent. Certain wallets have this feature built in to their wallets as well.

Let us talk about the process in more details for the more novice individuals:

It is important to note that managing, receiving, and sending digital currencies may differ in some wallets. As each has its unique system. However, almost all hardware wallets have the following process in general:

  1. First, log in to your hardware wallet
  2. You will see an icon that says send, receive, or transfer. Click on that button
  3. Choose the required option. Whether you want to send, receive, or trade cryptocurrency. One thing to remember is that you can receive and send only to similar coins. For example, litecoin to litecoin, bitcoin to bitcoin, and so on, this means you cannot send litecoin to a bitcoin wallet and vice versa.
  4. For senders: First type in the public address of the person you are sending the digital currency to and then select the amount you would like to transfer (some wallets may charge a transaction fee, so make sure you have the needed amount). After your type in the required information, double check them for complete accuracy. You do not want to send crypto to the wrong person now would you? Because once a transaction is made, you can not reverse it. After doing so, press send, after which you confirm your transaction one more time.
  5. For receivers: Receivers only need to send their public wallet address to the sender. This can also be done through a QR code in some devices.

Tips for happy digital asset sharing:

  • Before sending a large amount of digital currency, first, do a test run and send a small amount of cryptocurrency. This is to make sure that you are indeed sending your digital currency to the right receiver.
  • Try not to use third party applications and services, as many of these applications and services are frauds. Only use verified and well known systems for your transactions.
  • When buying a new wallet, look for certifications. These certifications are proof that the given statements about the product in question are indeed true.

Why did the transaction not go through?

New users of digital currency are often asking this question on the web. They usually get their problems sorted on their own. Because there was a never a problem, to begin with. Sometimes your transactions requires patience, sometimes these transactions are instantaneous. All of this depends on the server traffic. Remember how miners are supposed to confirm each transaction that occurs? Well sometimes there is an overwhelming number of transactions, and it may take some time for the miners to come towards yours.

So just remain patient; your job was done the moment you made the transaction. However, for the transaction to be complete, it needs to be uploaded on the blockchain, and this can sometimes take a certain amount of time. The time can range from a minute to several hours. There is no need to worry!

OPOLO hardware wallets let you exchange Cryptocurrencies

Most individuals exchange coins through a third party. Which means that there is a middle man making money off each exchange that you do. It is like giving free digital currency to someone for a task you can do yourself. OPOLO wallets allows you such power that you do not need anyone but your own wits to manage your digital currency.

You can exchange your cryptocurrency on the wallet and its application. The feature is built into the OPOLO wallet.  

Why choose OPOLO:

OPOLO hardware wallets is relatively new in the market. But it already has a better user interphase and secure element than many others. First of all OPOLO wallet feels like an android device, thanks to its 3.2inch touch screen and interphase. The relatively big screen makes it a hundred times easier to log into your device as well as manage your cryptocurrency.

OPOLO hardware wallets is the only crypto wallet to have an EAL6+ security certification for both software and hardware. Most wallets only have EAL5+ or less certification, and it is never for both the software and hardware. OPOLO wallets also has the capability to send, receive, manage and exchange your digital currency on one platform.

Moreover, OPOLO hardware wallets has a 124 character long passphrase and key phrase option. Which means you can set a very long security passkey.

For more details click here.

OPOLO wallets welcomes Thundercore token, now available on OPOLO wallets platform

Thursday, November 19th, 2020

Starting now, Expanse coin is a part of the OPOLO wallets family. You can now use this third party application on OPOLOs firmware. Both companies aim to make life easier for people in cryptocurrency world.

Thundercore token:

Thundercore is a public chain program that was launched back in March 2019. ThunderCore offers a smart contract interface that is completely compliant with Ethereum, enabling developers to migrate their applications to ThunderCore in just a few minutes; second-level confirmation, cross-chain and other innovations make it much simpler for developers and users. The platform offers instant transactions and it also gathers feedback, insights and data on how the platform is being used by developers to develop decentralised applications.

OPOLO Hardware Wallets:

OPOLO hardware wallet is one of the most secure hardware wallets in the market today. The wallet is completely encrypted with an SE chip and offers the longest passphrase setting in the entire market. Moreover, the wallet is EAL6+ certified in both hardware and software. With OPOLO you get a user friendly interphase and an integration of thousands of tokens and more than over a hundred coins.

You can download the OPOLO hardware wallet application on your IOS, Android, MAC, Windows, and Linux systems.

 

 

Sending Bitcoin to your Hardware wallet; a beginners guide

Thursday, November 19th, 2020

If any bitcoin was bought by you, it was probably brought from an exchange like Kraken, Gemini or coinbase, being the most trusted and mainstream coin exchanges. This means that if your bitcoin wallet is located on the exchange you used to buy your bitcoins, then the security of your wallet is in the hands of that particular exchange website.

This is one of the riskiest ways of storing your cryptocurrency. If you have been following bitcoin trends in the past few years then you would have seen all the stories of hackers stealing bitcoin from different users. If hackers get access to any of your private information, they can quite easily hack your bitcoin wallet.

These exchanges are all online and will not be used without the aid of the internet. For that very reason, Hardware wallets came into existence. Tapping into a cyber security necessity.

What are hardware wallets?

One of the best ways of keeping your cryptocurrency secure is by moving your currency into an offline medium. This is commonly known as cold storage. The method is known as cold storage because all your keys are securely saved on an offline medium.

The most popular cold storage mediums are hardware wallets also known as cold wallets. These devices solely exist to store your wallet information and currency. Moreover, these devices are protected through encryptions and key phrases.

There are quite a few hardware wallets in the market such a ledger, Keepkey and Trezor. However they do not offer the same level of security as OPOLO wallets. OPOLO wallets also has a much more user friendly interphase that helps you manage your digital currency in quick time.

So how does one send coins from Coinbase to their hardware wallet?

As a demo, we will consider OPOLO cosmos hardware wallet!

First connect your OPOLO hardware wallet to your computer and create your wallet. For this you will need to type in your pass code. Your passcode will only be used to access your wallet, each time you plug in and try to use your wallet. You will have to type in your passcode.

OPOLO then gives you recovery phrase option, where you can create a phrase that is up to 127 characters long. This is the longest recovery phrase any wallet has to offer in the market. You should write your Key phrase down and save it.

OPOLO gives you magnetic mnemonic cards for this purpose as well. Keep your magnetic mnemonic cards safe in storage. Because even if you lose your device, you can still access your wallet through the recovery phrase.

Bitcoin is already supported on OPOLO hardware wallet so you do not need to download its application or chrome extension. So once you created your wallet, all you have to do is view your wallet address. You can receive funds on your device through that. Remember bitcoins cannot be brought on your OPOLO device. They can only be exchanged for other coins in the market.

This is why these exchanges exist online. Because cryptocurrency can only brought through these exchanges.

Now log in to your coinbase account and go to the accounts page. Click on send button and type in your wallet address. Your currency will be sent to your wallet. Now you can keep your currency secure and sleep easy.

Important facts

Be careful while transferring your cryptocurrency. Try installing a firewall, antivirus device and use a trusted wifi network while making exchanges. Moreover, also remember that exchanges like coinbase charges a fee for each transaction that you make.

The fee is visible when you are making the exchange. Moreover the platform shows you just what amount of currency you will receive after the transfer. Some exchanges are as cheap as 1% fees, while some exchanges can cost you almost 15%.

Security risks of software wallets for cryptocurrency

Thursday, November 19th, 2020

The future of currency is digital and more people need to be aware of their options. There are many ways to store your cryptocurrency these days. Mainly these ways of storing digital assets are classified into two categories, which are software and hardware. The biggest difference between the options is that on is online and the other is offline.

Software wallets are often called hot wallets and these wallets are all online. Hardware wallets are known as cold wallets and these wallets are completely offline. For this particular reason hardware wallets have been deemed safer than software wallets.

Let us talk about software wallets in more detail:

Ever since Bitcoin was developed, digital currency wallets have existed. These software wallets come in mainly two forms, online and desktop wallets. On your IOS and Android phone, you can also download these wallets. Mobile hot wallets are also called hybrid wallets because of their mobility.

The fact that they are absolutely free and can carry all digital currencies is the best thing about owning a software wallet. Let us first address the “all crypto keeping” aspect. Each time a new cryptocurrency enters the market, a “ICO” is produced. If there is a place to store it, the ICO is only then functional. People who build digital currency are typically the same people who support it by creating a wallet as well.

The more prominent cryptocurrencies such as XRP, Litecoin, and Ethereum all also have various digital wallets for them. Each wallet has its own unique features, customization, and functionality to choose from. Less popular or less common cryptocurrencies usually have one wallet with basic features such as trading, selling, and buying.

A strong argument for hot wallets is the fact that they can hold new and less common cryptocurrencies, while cold wallets mostly cannot offer this feature.

Another point that makes hot wallets popular is the fact that they are free to use. All you need to do is find a hot wallet that matches your needs and then register to use it. The free factor is the main reason why these wallets are so popular, especially for the new crypto users. Another argument that makes hot wallets famous is that they’re free to use. All you need to do is find a hot wallet that suits your needs and register to use it. The free factor is the main reason why these wallets are so popular, particularly with new crypto users.

But are these wallets safe? Will your digital assets be completely secure?

If I was to be completely honest with you, then I will have to say that no, you digital currency will not be completely safe from hackers and cyber criminals when using software wallets. The security of your software wallet is only as good as the website you chose to get your wallets from. And if you look at history, even the CIA and NASA have been hacked and these companies have the best cyber security in the world.

All software wallets store your data on a cloud or an online server. Online servers are not that hard to hack, as we already know. You might be the victim of a malicious software or a fraud, and you might even be the victim of someone who knows the value of your digital currency.

While there have been several security steps taken by most hot wallet websites to ensure the protection of your crypto. It just takes a tiny loophole to lose all your digital currency, such as a website update. This has happened before and will continue to happen in the near future. For now software wallets are not that safe to use.

Some websites like coinbase, if you use their hot wallet, offer 100 percent insurance. This is pretty rare, though, and is very comforting. But with the same pledge, other websites will cheat you as well. Even if you link your cold wallet to a compromised computer device, most hardware wallets like OPOLO hardware wallet have taken some drastic safety steps. It’s still difficult to hack your digital properties.

So should you be using a software wallet?

It depends, if you for example are dealing with new cryptocurrencies or are very new to the crypto world and have minimal investment. For example you are trying to learn the crypto trade with a small budget, then yes you should use a software wallet. However, if you want to properly earn through digital currency and are going to invest in thousands then I would suggest you stay away from software wallets.

You can never truly escape the use of cryptocurrency software wallets. However, you can smartly transfer your crypto to a cold storage wallet. Currently online sources for storing cryptocurrencies are not completely secure. Maybe in the future, but for now software wallets are not safe from cyber criminals.

What is Cryptocurrency? (A beginners guide to all you need to know)

Friday, October 2nd, 2020

Cryptocurrency is an online digital currency that is used for the exchange of goods just as fiat/paper currency is used. Cryptocurrency is backed by cryptography, making it impossible for these coins/tokens to be double spent, copied, or faked. In more simpler terms, cryptocurrencies are a finite number of entries on a database, and these entries cannot be changed until certain conditions are met.

Cryptocurrencies are backed by blockchain technology, which is an online public ledger where all transactions related to cryptocurrencies are stored and are completed by a collection of computer networks. People who make these transactions happen are called miners. These miners receive a small amount of cryptocurrency for their services. For example, a bitcoin miner will receive payment in bitcoin, while an ethereum miner will receive payment in ethereum.

 

Background: (history of digital currency)

 

You may be surprised to know that bitcoin wasn’t the first digital currency to exist in the world. Back in the ’90s, technological boom companies tried to produce and distribute digital currencies but failed. Digital currency systems such as Flooz, Beenz, and Digi cash stepped up in the market but eventually failed. There were several reasons for the failure of these currencies; some of the most common ones were; frauds committed by companies claiming to be them, lack of resources, and tension between company employees and their bosses.

 

Crypto History

All of these companies also used a reliable 3rd party approach, which means that companies supporting these currencies were trusted, verified, and facilitated transactions. However, because of the failures of these companies. People just did not trust digital currencies anymore, and this idea was seen as a lost cause for a while.

But, innovation needs only a few or one committed and skilled individual. A man people can get behind and make magic happen. For a digital currency, this man or group (still unknown) went by the alias of Satoshi Nakamoto, who gave the world bitcoin, the very first successful cryptocurrency in the world. Satoshi developed a person to person electronic cash system. A system that is 100% decentralized, which means there is no controlling authority or hidden servers. This currency is for the people, run by the people, and is visible for everyone to see.

 

How does cryptocurrency work?

 

A decentralized network such as bitcoin requires each individual to do his/her part to make it work. This is where the term Blockchain comes in. A blockchain is a public ledger of all the transactions that have ever happened on the network and will happen. This ledger is publicly accessible, meaning anyone with a computer and internet connection can get access to it.

 

Cryptocurrency

Each transaction that occurs is made up of senders and receivers public keys (a combination of random computer-generated numbers & alphabets) and the number of coins transferred. The sender must also sign off the transaction by his generated private key. This process is known as cryptography. Then after a bit of time, this transaction is made public. However, for this transaction to be completed, it first needs to be confirmed.

Now, this is where the cryptocurrency miners come in, and only miners can confirm a transaction. This is done by solving a cryptographic puzzle. The miners make these transactions legitimate and then spread them along with the network. After which this transaction is added to the database. When this transaction has been confirmed, it becomes unchangeable and cannot be reversed no matter what. For doing this, the miner receives a reward and a small transaction fee.

The entire cryptocurrency network is based on trust and the agreement between all parties involved over the legitimacy of all balances and transactions. Each individual acts as a cog in a machine; without one cog, the entire machine breaks down. But there is no reason to worry, as rules are built and programmed into this network, these rules prevent this system from breaking down.

 

The legal side of cryptocurrencies:

 

As digital currency is becoming more common around the world, financial institutions of almost all the countries in the world are trying to understand this fairly new concept of money better. These law enforcement agencies, tax collectors, and judicial systems are all finding ways to incorporate these currencies in their economic system.

Legal Cryptocurrency

Ever since the emergence of bitcoin as the first useable and trustable cryptocurrency. There has been a lot of concern over its decentralized nature and the anonymity that comes with its use. Financial institutions around the world are concerned that people will use these digital currencies to obtain illegal services. These institutions are worried that individuals can use this form of currency to do money laundering, tax evasions, and purchase illegal items without any fear of being caught.

There are a few countries in the world that have banned cryptocurrencies in their economy. A few examples are Bangladesh, China, Russia, Vietnam, and Bolivia.

 

How to store cryptocurrencies?

 

If you are a user, fan, or just a geek, you must have heard that millions of dollars’ worth of cryptocurrency have been stolen through online frauds and hackers. The digital currency being virtual is stored differently than standard currencies.

Technically, when you store cryptocurrencies, you are actually storing its private keys, these are used to sign off transactions. These keys need to be securely stored. People write these keys on pieces of paper, save them in USBs or files in their computers.

However, the safest way to store cryptocurrencies is through the use of a hardware or cold storage wallets. Hardware wallets have become very popular in recent times, as these wallets are completely offline. Moreover, these hardware wallets are encrypted with passwords and key phrases.

Even though these hardware wallets are safe. Some are safer than others.

 

How to choose hardware wallets?

 

OPOLO Wallet

 

Here is a list of things you should look for while choosing a hardware wallet:

⦁ It should have a minimum of EAL6+ security certification for both hardware and software( most only have it for one)

⦁ It should have multiple currencies integrated within it.⦁ It should have a screen size that is easy to use.
⦁ It should have long passphrases and keyphrases for access
⦁ Its mnemonic system must be secure.
These are the basis upon which you should choose your cryptocurrency wallet.

French Regulators Crackdown on Crypto Scams

Friday, October 2nd, 2020

French regulators have provided users with a list of new financial-investment websites operating without any authorization from the government. This includes the popular Digital Asset Service Providers (DASPs), according to Finance Magnet.

BitcoinFrance is one firm that has come into AMF’s focus recently, the company raises many characteristic red flags of investment scamming. Moreover, BitcoinFrance has also been offering users, the use of their bitcoin trading software, after users have deposited a sum of at least 250$.

The company’s application claims to provide users with AI trading capabilities for cryptocurrencies. Where they are promised a hefty profit with zero risk. Claims as such, carry the very essence of investment fraud.
You can find the list of these fraudulent sites on AMF’s regulators website. Furthermore, they have explained that this list is by no means complete and these domains may very well change quickly.

This comes as a warning from Paris to individuals who have been scamming people in the past over crypto currency. Furthermore, the government is looking to police crypto related activities. Moreover, regulators have given approval to the country’s first application for initial coin offering (ICO).

It has additionally posted new regulations concerning the licensing of digital asset service providers and given companies guidelines for the application of this license as well. Furthermore, it has also provided information so as to prevent scamming and given guideline for cyber security practices.

The European Union will make widespread changes to Crypto Regulations by 2024

Friday, October 2nd, 2020

The EU is planning to make crypto and blockchain technology a part of its economic structure by 2024.
In the coming four years, The EU plans to change regulations that will promote the use of blockchain and digital assets for currency transfers worldwide. According to documents provided by Reuters last Friday.

The documents said as quoted;

“By 2024, the EU should put in place a comprehensive framework enabling the uptake of distributed ledger technology (DLT) and crypto-assets in the financial sector […] it should also address the risks associated with these technologies.”

More than 80% of all transactions are done through paper currency. The EU commission, along with the unions governing body, wishes to see digital transactions become more common. At the same time, it hopes for faster transactions, according to Reuters.

However, the commission demands that they get more data access and financial activity availability, all in hopes of faster transactions, as well as liquidity. Reuters further explained that ‘By 2024, the principle of pass porting and a one-stop-shop licensing should apply to all regions which hold strong potential for digital finance,” the document explained. In the coming year, faster transaction avenues are much likely taking over.’

Even though the Covid-19 pandemic has sped up the use of digital currencies all over the world, cryptocurrency always comes into the negative limelight for its anonymity, with governments talking about its regulations. However, many countries are looking forward to regulating the use of cryptocurrencies into their financial infrastructures.

OPOLO Wallets Saves your Currency from Being Hacked

Friday, October 2nd, 2020

One of the best things about cryptocurrencies is anonymity. However, this is also the reason that hackers can make a clean getaway with all your digital currency. Ever since the inception of the bitcoin and other cryptocurrencies, each year, large quantities of the digital currency goes missing. Malicious hackers have found multiple ways to hack your systems, ways that you would never suspect. They can hack you through your WIFI connection, through Trojans, clickable ads, pdf downloads, even if you open the wrong link for too long, and etc.

As hackers are getting smarter, so is technology. However, until now, the OPOLO wallet is the only digital currency wallet that is impenetrable. Many have made this claim and but by simply doing some research, you will find out that they aren’t worth their salt. The reason being that we have the best ethical hackers always making each software update more secure than the last. OPOLO wallet is the only cryptocurrency wallet that is both secure in software and hardware.

Here is why the OPOLO wallet is the only cryptocurrency wallet you need:

 

5 Card Mnemonic Backup:

 

When you buy an OPOLO wallet, you will also receive 5 cards. These cards will help you backup your data. Simply swipe these cards behind your device, and they will save your mnemonics for backup. You will need 3/5 cards to secure your backup. These cards will not only keep your backup safer, but it will also save you the hassle of writing down your mnemonics.

 

Completely offline:

OPOLO hardware wallets are completely offline. They have no Bluetooth, WIFI, WI-LAN, or any other form of connectivity with the internet. How can anyone hack something that’s not online? They simply cannot.

 

EAL 6+ with Secure Element:

 

EAL6+ is the highest level of security achieved by any hardware wallet in the market. OPOLO wallet has both secure EAL6+ and Secure Element chip, which stores your private key in complex methods of encryption just as credit cards do. There is no way to see the key or copy them, so this is a highly secure system.

Moreover, the EAL6+ certification is for both hardware and software. Most cryptocurrency wallets only have one tested, while the other is still susceptible to attacks. OPOLO wallets is the only company that never hides anything from its consumers.

 

Regular updates:

 

Our team of software developers and ethical hackers are constantly coming up with better updates that are both more user friendly and more secure. If these hackers do not rest, why should we? Experience real security with OPOLO wallets.

 

Longest password/passphrase:

 

OPOLO wallets allow its users to have 120 characters long passwords and passphrases. The longer these passwords and passphrases are, the harder they are to crack. Moreover, a user only gets 7 attempts at guessing your passkeys correctly, after which the device is blocked.

 

Most integrated coins and more to come:

 

OPOLO wallets have over 110 cryptocurrencies integrated within its application and over 200,000 tokens. This is the highest number of integrated crypto assets in one wallet ever. Moreover, this trend is only going to get better. The owners have planned to integrate more and more coins with each update. This helps make OPOLO Wallets more secure as users do not have to make unnecessary downloads just because they can’t find their coins on their wallets.

This is another way hackers get your hard-earned crypto. You accidentally download the wrong coin app and poof, everything is gone. This is why we integrate all these coins for you.

OPOLO wallets care for your security, as your security is our success. One simply cannot exist without the other. Join the OPOLO team and experience what true security really is!

6 Ways to Store Crypto Assets, Which One’s The Best?

Wednesday, September 30th, 2020

These days the world is quickly transforming, and there has been a rise in cryptocurrency users and owners. More and more businesses are accepting payment via cryptocurrency. So if you are new to this method of trade, you’re probably wondering how and where you can store your cryptocurrency. Well, the answer to this question entirely depends on where you are, how many assets you own, and what method is more convenient for where you are in the world.

So let’s start the countdown:

Store on Exchanges:

 

People can buy, sell and trade cryptocurrencies via centralized exchanges here, you have to send your coins and tokens to the exchange. These coins/tokens are held under the agreement of IOU, which means you do not have control over your coins. This is related more to the traditional style of banking.

For now, these exchanges are said to be the least safe places to store your crypto assets. If you do a little research on search engines, you’ll see hundreds of stories about crypto hacks and how crypto owners have lost coins worth billions of dollars. So maybe think twice before using exchanges, if you have no other choice than do some research and take precautions.

 

Store on Third-Party Custody Services:

 

This is a third-party solution that provides security and storage of cryptocurrencies. Institutional investors usually use services as such, who have large hedge funds, who hold large amounts of cryptocurrencies. This service uses a combo of hot and cold storage.

In simple terms, this means they use online and offline storage techniques. Both have drawbacks and benefits. Online storage is more susceptible to hackers due to online exposure but makes liquidating cash easy. Offline storage is safer in terms of hacking but makes liquidating money a timely task.

But again, here you give control of your cryptocurrency to a third-party. So if you use this service, make sure they have insurance over the hacking of your accounts. Furthermore, do background research of the company, see if they have any legal problems.

 

Store on Smartphone and Laptops:

 

This is the most common and easiest way to store your cryptocurrencies. The only drawbacks are Trojans, malware, and other hidden viruses that can steal your data. You need to have an excellent security system with constant updates. Hackers are a different breed these days. Many people can learn ethical hacking online for as low as 10dollars and then use it unethically.

If you do an online search, you’ll find countless stories on how many people have been a victim to hackers and have lost millions of dollars’ worth of crypto assets. There are so many backdoors installed third-party apps that are near impossible to detect. If you think you control your device? Then think again!

 

Store on paper, steel, wood, etc.:

 

This is one of the safest ways of storing your mnemonics or private keys. However, this is not a foolproof method. To generate private keys, we need to access our funds through a laptop of a mobile device. This leaves your cryptocurrency vulnerable to malware, viruses, and Trojans.

So again, you have the same problem as you did storing this data on the computer. However, it’s still safer as you can regularly clean your computer from viruses before doing this. The method is suitable but it’s still very impractical.

 

Store on a Cloud Server:

Cloud-Storage-Hardware-Wallet

You can store the mnemonics on your servers, but this is connected to the internet and is susceptible to viruses and hackers. Clouds are always online and are one of the riskiest ways of storing your crypto assets.

 

Store on a Hardware Wallet

 

An ideal modern solution, with the best security, are hardware wallets. Most hardware wallets are virtually completely offline; they do not have internet connections, Bluetooth, or anything that can connect them to the web. They are used through pass keys and USB port connections. So far, these have been the best options.

The hard part about using hardware wallets is choosing the right one. There are a few perimeters on which you can judge which wallet is better. Such perimeters include how many integrated currencies and tokens does the device support, the size of the screen, the level of EAL security, which is rated out of 7, does the wallet support coin exchanges, how long and secure is your passkey/mnemonics.

 

Why Choose OPOLO Cosmos?

 

OPOLO cosmos are miles ahead of the competition, and here’s why;

⦁ There’s only one app that needs to be downloaded to your Mac, Windows, Android, or Linux system.
⦁ Over 108 supported coins and thousands of tokens.
⦁ You can transfer, send, and receive almost all your cryptocurrencies on one platform. F
⦁ You can also exchange coins from this platform, for example, Bitcoin to Ethereum.

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