Get the weekly summary of crypto market analysis, news, and forecasts! This Week’s Summary The Crypto Market ends the week at a total market capitalization of $2,120 trillion. Bitcoin is up by nearly 4% in comparison with last Sunday. Ethereum lost 2% in value over the week. XRP is down by roughly 4% after a troublesome week. Most altcoins, except Avalanche, have traded in the red for most of the week. The DeFi sector gained almost $1.4 billion from the…
Cryptocurrency wallets are especially useful tools that allow crypto enthusiasts to have quick access to their crypto assets. It’s worth mentioning that this is one way the global use of cryptocurrencies can become a reality in our daily lives. However, some multicurrency wallets have moved a step further, not only as a payment tool but also to serve other unique functions in the digital financial world.
Blockchain solutions have made it possible for crypto enthusiasts to use their cryptocurrency wallets as a haven to grow their assets and use them as a payment tool. Talk about such wallets, and the renowned ones in this industry are Flits app, Cobo Wallet, Trust Wallet, Huobi Wallet, etc. There are equally good options out there, but this review will focus mainly on the above wallets. The reasons are based on the security of funds and a good user interface, making most investors in this industry prefer using them.
It is a decentralized multicurrency wallet that comes with a decentralized cold staking feature and decentralized hosting masternodes. This is one thing that makes Flits wallet very unique among other passive income earning cryptocurrency wallets. While you entrust your funds’ security onto various platforms on which you stake, concerning other wallets, the Flits app, with its cold staking feature, puts users in full control of their funds while earning passively. Both staking and running masternodes are available in one-click solutions.
You don’t need any in-depth technical knowledge to set up a staking wallet or masternode. Currently, Flitsapp supports Bitcoin, Ethereum, Zcoin, PIVX, DIVI, and more than 60 masternodes and Proof-of-stake assets at a very affordable price for masternode owners. However, users running masternodes or staking can disable the features at any point in time and access their funds that very minute. Besides, swap technology has also been embedded into the wallet to allow users to sell their Bitcoin rewards. At the same time, other major coins will be supported in the nearest future. On the other hand, users can equally sell their rewards, purchase gift cards, and use them in over 50 online stores.
An all-in-one wallet platform allows users to interact with their funds, stored on a hot wallet and cold wallet. This is a unique feature that Cobo has brought into this industry and other products that it also has. Cobo Vault comes with air-gapped hardware wallets that provide maximum security from any security breach attempts, as these hardware devices do not need any form of connection (Wifi, Bluetooth, USB connection) to execute a transaction.
Not only individual users, but Cobo Custody has been designed specifically for institutions that might want to keep funds safe for a common purpose. Multiple signatures, 2-FA authentication, is enabled on all these wallets to ensure absolute protection against its users’ funds.
Having a unique and simple graphic user interface makes using cryptocurrency wallets come with ease, and that’s exactly what Cobo wallet provides. Earning passively through the Cobo wallet is enabled for most of its crypto coins and over 700 tokens that allow staking on its network. Users can do this through their Cobo Cloud wallet, which can be accessed easily through the mobile wallet. All that needs to be done is to deposit the funds in there and enable the staking feature to start earning. Remember, it’s a cloud wallet, and you are not in full control of your funds. However, Cobo is one of the cryptocurrency wallets developing companies that are well-known for their secured systems.
Known by its reputation as being owned by managers of Binance, Trust wallet is a multicurrency wallet that supports over 45 blockchains and almost any ERC-20 token deployed in the crypto industry. It is really known for its simplicity of use due to a simple basic user interface. The wallet is very secured and has made it one of the most popular mobile cryptocurrency wallets being used now. It also comes with an integrated swap technology that allows users to trade their cryptocurrencies with ease.
Bridging the gap between the traditional payment system and the digital payment system, users of the Trust wallet can also purchase cryptocurrencies with Visa and Mastercard. Staking is also enabled on this wallet for holders of TRON, KAVA, VET, TOMO, COSMOS, ALGO, etc. Staking can easily be done by depositing the respective asset and navigating through the app to get it up and running. However, users should note that some wallets require lock-up days, and disabling staking might not immediately release your rewards.
It is a multicurrency digital wallet developed by the Huobi group and supports over 1000 cryptocurrencies, including major coins, including ERC-20 Tokens. Huobi Group, known for its secured exchange platform, has developed this wallet with a robust design, keeping users’ funds secured beyond any form of breach.
Huobi wallet comes with a simple and attractive graphical user interface, making it simple for even average Joes to navigate without any glitch. Huobi has established partnerships with Changelly, making it possible for users to trade their cryptocurrencies for others through the wallet with ease. Furthermore, they provide staking services for major altcoins such as ATOM, IOST, ONT, LOOM, etc. at no fee. Like Flitsapp, staking is on-chain. Hence users need not deposit their coins onto a staking wallet, and they can withdraw at any point in time.
Proof of Stake as a consensus protocol came along with earning passively, which is the trend with most upcoming blockchain startups. Having a multi-currency wallet that supports staking features, swap technology puts you on the go with your digital assets. Whilst many wallets might have control of your funds while staking, Flitsapp is the only decentralized cold staking wallet that puts users in full control of their funds when staking or hosting masternodes. Besides, users can disable and withdraw their funds at any point in time, without any form of lockup periods.