Steemit Crypto Academy Contest / S3W3 - The Wallets by @jasminemary
Hello Steemian
Greetings to friend and welcome to my post. In this post, I have discussed about wallet in regards to the question that was asked in Steemit Crypto Academy Contest.
A wallet is a means by which we can make transactions electronically without going out of our comfort zone. Let's take a look at what I have discussed about wallet.
What are wallets? Why do you think wallets are important? Let's talk about it.
Since we are in the world of technology let's take a look at wallet in a digital way as we all are crypto gurus. Wallet are simply an electronics device, or an online service that allow businessmen and women and everyone to be able to make transactions electronically at any point in time without going to they banks. This is what I called digital wallet.
Digital wallet, is an electronic wallet, software that are access online which allow businesses to be able to make transactions electronically. Digital wallet is different from the type of wallet that we normally put in our pocket. In digital wallet, the payment information of users are store for different payment modes on different websites, together with that of other such as users personal data. Also digital wallet is known as E-WALLET.
Important of wallet;
Wallets are very important for the following reasons:
Wallets help us to send funds very fast without going out of our comfort zone.
Wallets help us to secure, stores our funds and the payment information of users that we normally send funds to in a compact form
Wallets are also important as it allows us to transfer funds to our friends and loved ones that are in another country.
Wallets are important because they eliminate the need for we to be going to the bank to transfer funds for either business or individual purpose.
Which wallets do you own? Why did you choose those wallets? Talk about your experience, show screenshots of your wallets.
Well as a crypto trader I have came across several wallets that I can comfortably save my cryptocurrency here in Nigeria. The following are the wallets that I own currently.
Binance
Roqqu wallet
TronLink
Why I choose those wallet
I choose those wallet because they're the wallets that are more secure for me to invest my money in. Let me tell you the reason why I choose them one after the other.
Binance:
I choose Binance wallet because is one of the top cryptocurrency wallet in the world that has so many cryptocurrencies with different pairs. Binance has a lot of features that makes me to so much love the wallet than any other wallet.
Binance is a peer-to-peer (P2P) wallet that I can easily sell my coins to hundreds of buyers within 30 minutes and I can also trade one currency for another currency using spot trade, future trade and so on. And also I choose Binance because of the numerous services and the academic that Binance do offer to beginners.
Roqqu wallet:
Roqqu wallet: I choose Roqqu wallet because is the number one exchange that is very simple to use in Nigeria and I can easily transfer funds to my bank account, buy crypto, pay for utilities bill, recharge my phone and do a whole lot of things in Roqqu. They customers services are awesome.
TronLink:
I choose TronLink wallet because is the best wallet that I can save my Tron rewards and I can also stake my coins in TronLink without me going to Binance to do that. TronLink is user-friendly wallet and l love the interface.
Have you suffered any theft in any of your wallets? Tell us about your experience, what do you do to protect your cryptocurrencies?
No ooh, I have never suffer any theft in any of my wallets and I don't pray to suffer any thief in the nearest future. Although, in terms of protecting my cryptocurrencies in my wallets, I do make sure that I provide a very strong password that can't be easily guest by anyone.
Also, another thing that I do to protect my wallet is to lock the wallets on my phone so no one can have access to it be it online or offline without my permission.
Do you prefer hot wallets or cold wallets, give your opinion about.
I prefer hot wallets than cold wallets. The reason why I prefer hot wallets than cold wallet despite the fact that it can be hack since it's operated online is that it is very ease to use. Hot wallet has a lot of features that makes crypto trading enjoyable and it gives a lot of meaning and value to cryptocurrencies.
With hot wallets, I can buy cryptocurrency from the comfort of my room at anytime and I can also sell cryptocurrency at any point in time I like and it comes with a lot of services like staking, swapping, deposit/withdrawal and a lot more.
I am inviting @simonnwigwe, @olabillions and @olabillions.
Greetings friend @jasminemary
Hot wallets are more flexible when it comes to trading, since we can do it from anywhere just by having internet, the important thing is to be careful when clicking on any misleading ads, this way you will maintain an acceptable security.
Good publication.
Yes, you have said it all and I so much appreciate your comment as it means a lot to me. When it comes to hot wallets they're more of functionality in it than cold wallet.
Thank you for stopping by.
That is one of the reasons why I frequently use Binance, the possibility to get fiat money from my country, at any time, safely and without the need to go to the bank.
Thanks for sharing this post!
Thank you fir stopping by. Am grateful
Just like you I’ve used the Binance waller and TronLink wallet but I haven’t been fortunate to come across the roqqu wallet.
For me what Binance stand out from other wallets is it’s p2p system and the security they’ve put in place. Thought one can still be anonymous, at least you can have an account blocked when you’re stolen from.
Wallets with their several benefits allow us to take advantage of the crypto space.
Thank you for sharing.
Yes you're right Binance is the best wallet so far
I also prefer hot wallets because it is easy to use anytime anywhere with the help of internet. Nice publication.
Thank you so much for stopping by.
This is a good point, going to the bank to transfer money is very stressful. Sometimes you have to join a long queue just to transfer money. With digital wallet, we can just transfer money without having to leave our comfort zone as you said.
30 minutes is even so much time, with the express feature you can just sell your tokens via p2p in less that five minutes.
A lot of Nigerias talked about this wallet as the best, I’m sure is specifically for Nigeria cause I haven’t heard of it in different country. The Roqqu wallet must really have great features.
Prayers can keep you away from theft issues with your wallet, you can expose your keys to others and pray they don’t compromise your assets. You will have to do the good work to protect your wallets.
Please find time to visit my post as well. Good luck..!!
https://steemit.com/hive-108451/@sadiqxylo/steemit-crypto-academy-contest-s3w3-the-wallets-by-sadiqxylo
Thank you for stopping by indeed Roqqu is a nice wallet in Nigeria.
My pleasure
You are right my friend, wallets allow us to easily exchange cryptos and even store the keys to our accounts so that another person don't just steal our assets from us. I also love hot wallets for many reasons, easy to use, liquidity, initial investment and many others, I spoke about them in my post too.
I am glad that you stopped by thank you so much.