According to a recent NFT research, India ranks first among 26 countries on the basis of play-to-earn (P2E) gaming adoption. Indian Players Outnumber Hong Kong's and UAE's As per the survey, approximately 34% of respondents in India have experience with play-to-earn games. To be clear, play-to-earn games are blockchain-based games in which players receive incentives with real-world value. Since the outbreak of the pandemic and the rise of the work-from-home culture in India, the popularity of P2E games has soared.…
1Password is taking its storage security to another level with a new crypto-centered feature. The latest update allows users to store details concerning their cryptocurrency wallets.
Simply put, you can store a small piece of information on 1Password that could help you remember your private key. However, you cannot store the entire key giving access to your digital assets. As a friendly reminder, you should always store your private key offline and never share it with anyone.
1Password Rolls out “Crypto Wallet” Feature
Some sources estimate that over $140 billion worth of crypto have disappeared forever due to people forgetting their private keys. Most of the users in this dire situation would probably trade an arm and a leg to re-access their assets. After all, they would only need a hint, a clue, or an idea to remember their crypto wallet passwords.
Unfortunately, it’s almost impossible to retrieve those lost private keys. However, some applications aim to prevent people from forgetting them ever again. In its most recent update, 1Password proposes a “Crypto Wallet” feature that helps users save data regarding their private keys. Therefore, they can input their recovery phrases and have a backup for their secret keys.
Long-time 1Password users could argue that the app already allowed them to store crypto-related information. However, the process used to have more steps and could prove cumbersome for newbies.
The “Crypto Wallet” feature enables users to add separate fields and separate sections for their crypto wallets’ information. Also, the new feature already has a ready-made format for this type of storage.
Is Saving Your Seed Phrase Online Safe?
If you have a “better safe than sorry” mindset, then you should avoid saving your seed phrase online. After all, this is the master key that unlocks your crypto wallet giving access to all your digital assets.
Nevertheless, the quality of storage management tools has improved significantly in recent years. A higher level of security makes it convenient for some people to use them for storing their secret data. In this case, 1Password’s latest feature, “Crypto Wallet,” could be an accessible solution.
The recent update also includes support for Phantom’s crypto wallet. In turn, the latter can support Solana-based tokens and non-fungible tokens (NFTs). Therefore, Phantom users can link their wallets to 1Password together with the addresses and secret recovery phrases.