Terra isn’t dead: the network is back up and running on a new blockchain, focusing on a more decentralized governance model. The community is making no attempts to revive its recently failed TerraUSD (UST) stablecoin. It has, however, re-launched a new version of the LUNA governance token, restarting its supply at 1,000,000,000 tokens. Here are the facts on the new blockchain, why it was launched, and the new token’s airdrop/ distribution. Background on Terra 2.0 Terra 2.0 (now known formally…
Crypto holders and traders need safe and reliable solutions for cryptocurrency storage. Nobody knows this better than CryptX, a secure operational crypto wallet that stores all supported assets and private keys in Swiss bank-grade Hardware Security Modules (HSM).
CryptX supports over 100 coins and has recently partnered with Genesis, one of the most trusted Bitcoin ATMs in the industry. This hot wallet is just warming up, and its impressive set of features and client benefits is sure to lure in plenty of crypto investors.
Before it turns into a real fireball, we take a closer look at all the CryptX features in this CryptX Wallet review.
What is CryptX Wallet?
CryptX is a hot custodial wallet for cryptocurrencies that stands out among other crypto storage solutions through its high-security protocols. The developers have chosen Hardware Security Modules (HSM) to keep the users’ crypto goods safe.
According to the CryptX website, these HSMs are programmed, manufactured, and operated in Switzerland, a country that has built an impeccable reputation as the world leader in offshore private banking, a market estimated at $8.5 trillion worldwide.
A Hardware Security Module is an electronic device that uses powerful encryption and decryption features to store and manage essential electronic data. It is among the safest storage solutions for private keys, digital signatures, and other cryptographic elements.
CryptX offers its users secure APIs that use Two-Factor Authentication (2FA) to protect better and manage their assets. The wallet can be easily integrated with any application and works with most of the world’s most popular crypto exchanges.
The company holds a comprehensive record of all the transactions and user operations. It also provides its clients with complete freedom to customize their wallets as they wish and fast customer support.
Who is behind CryptX?
CryptX was founded in 2018 by a top financial expert from Georgia, George Gvazava, and its current CEO. For more than a year, the wallet operated only in its beta version. During this time, it established a collaboration with Cryptomat – a company dealing with cryptocurrency ATMs, which has remained their client to this day.
From August 2020, the CryptX operational wallet became publicly available and took on a flagship product for the company.
Behind CryptX is a small but highly-experienced team of developers that specializes in highly-secure multi-asset operations. Boasting a long experience in blockchain technology and crypto trading, the team aims to transform the hot wallet into one of the industry’s best crypto storage solutions.
CryptX Features and User Benefits
The CryptX wallet comes with a simple, user-friendly interface that should be easy to navigate by first-time crypto traders and seasoned investors alike.
Diving deeper into the CryptX anatomy, we discover an entire universe of possibilities. Its users should have access to a broad set of trading options that few other wallets can provide. Some of the most important CryptX features include:
The CryptX Auto Swap function
This option allows users to exchange cryptos inside their wallets to a stablecoin like USDT automatically. This way, they can avoid volatility damage and remove the exchange rate risk embedded in any crypto operation.
Faster Transactions with CryptX
CryptX optimizes transactions so that users do not waste too much time when using cryptocurrency ATMs or exchanges. It also shortens the time needed to confirm the irreversibility of a transaction.
CryptX does not charge a single cent for deposits. Instead, it takes 0.2 % out of the total value of each transaction. Additionally, it employs variable fees based on transaction volume.
CryptX spoils its users with a broad collection of consumer benefits, such as:
- 100% user data privacy
- Access to the wallet via an API or through the CryptX website
- Lower fees through SegWit, transaction batching, and other cost-effective fee management tools
- Full support for forks and airdrops
- Automated swapping and currency risk-hedging
- Wallet Freezing
- Address Whitelisting
As we mentioned before, CryptX supports more than 100 coins, and it is looking to expand and cover as much of the cryptocurrency market as possible. Some of the most notable coins in its inventory include:
- Bitcoin Cash
Users can give up on having multiple crypto wallets and choose CryptX as a safe storage solution for their entire investment portfolio.
CryptX aims to take mass cryptocurrency adoption a step further through its hot wallet features and crypto ATM functionalities. In this regard, it offers solutions for real-world and internet applications to increase digital assets outside the crypto universe.
CryptX E-commerce Solutions
E-commerce websites and platforms accept a wide variety of payment options. Their collaborations with traditional financial institutions give them access to secure transactions and storage solutions.
If they were to adopt cryptocurrency payments, they would benefit from quicker and cheaper transactions. However, they would also need a reliable crypto storage solution for this process to work.
CryptX gives e-commerce platforms access to a highly-secure crypto wallet that supports several coins. They can accept payments from customers in more than 100 cryptocurrencies, and thanks to the Auto Swap feature, their income is permanently safe from market volatility.
A Hot Wallet for Online Casinos
Betting platforms and online gambling arenas from all around the world are looking into cryptocurrency adoption. The only risk that they fear for now is that value fluctuations may alter their clients’ deposits and winnings and the casino’s profit.
CryptX provides a hot wallet that would enable users to swap their coins into stablecoins like USDT and avoid crypto volatility risks. Furthermore, the API functionality of the wallet would help online casinos automate their crypto payment system.
Besides these solutions, CryptX would also help crypto ATMs automatically exchange coins with preset rules and limits and keep liquidity with minimal crypto volatility risks.
The Bottom Line – The CryptX Wallet Review
All in all, CryptX is a refreshing and promising newcomer in the market for cryptocurrency storage solutions.
The Auto Swap feature stands out the most among all the CryptX functions. It should enable a wide variety of e-commerce companies, online casinos, and exchanges to accept cryptocurrency payments and deposits without fearing market volatility.
The CryptX wallet should also be a great solution for crypto users who prefer trading in numerous coins and wish to keep their cryptos in a Swiss bank’s impenetrable vaults.