Gone are the days when sending and receiving currency was demanding – it still could be – if you are dealing with the traditional currency. Going to the bank, depositing the cash, and then transferring requires time which is very precious in today’s busy life. Everyone has got a lot on his plate. However, if you are a Crypto owner or planning to invest, then we have good news for you. We have gathered a scrupulous insight into the transactions of digital currencies – mainly Cryptocurrency. Beforehand, let’s flick through the device used in this process i.e hardware wallets.
Hardware wallets
Let’s see what the trailblazer has to say: according to bitcoin.org,” A hardware wallet is a high-security bitcoin wallet that enables you to store your funds offline. You connect it to your computer when you need to manage your funds. ”
To put it in simpler terms, a hardware wallet is a virtual wallet that is used to guard your digital currencies e.g. Cryptocurrency. Your regular wallet and this are much of a muchness.
How Opolo Makes Transactions A Cinch
Opolo’s cryptocurrency hardware wallet is specially designed to make the user’s life easy. We offer sending, receiving, exchanging, and controlling services of digital currencies from a single platform. Fair curious? Then keep on reading.
First step: you have bought your wallet. Now it’s the time to set up your account in order to get started.
Second Step: suppose you want to send someone your coins, you need to enter his public address or give yours elsewise. In case of the latter, the receiver should enter your address into his wallet to continue the proceedings. This won’t take much time. In some wallets, the option of scanning the QR code is available. On the other hand, you have to copy and paste the addresses in the rest.
Third step: select the amount you want to transfer. Here, you will be asked a few questions. Some of the wallets require more information too. After this, simply press enter.
Fourth step: congratulations! Your transaction process is complete and sent to the public ledger or Blockchain. Wait for the final verification from Blockchain. Note: Once your transfer of funds is verified by cryptography, it becomes irreversible so don’t forget to double-check it beforehand.
What to Do If You Want to Track Your Transaction
For every anxious individual out there, we totally understand you. Trusting everything you see online, regardless of the credentials, is a bit hard for some people. If you are one of them, you don’t need to worry. You can easily monitor the transaction’s status by block explorer of the respective coin. Many wallets are inbuilt with this feature.
Tips to Ensure A Smooth Process
- If you want to send a huge amount of currency, then start with small transfers – more like a test run. In this manner, you will establish confidence and assurity that your funds are going to the correct receiver.
- Steer clear of third party apps / softwares. Mostly, these are frauds and could misuse or even steal your funds. Always go with the verified companies.
- Always look at the security certifications prior to buying a hardware wallet. Especially EAL certification: Opolo Cosmos has EAL6+ with secured chips. On the contrary, most of the wallets have an EAL 1-5 rating.
- Moreover, do an extensive research of the company. Details of the founder, buyer’s review, and testimonials. Do check if they have faced any security breach and how did they get by that. The safekeeping of your assets is the prime concern here.
Who would want to fall prey to spiteful activities? Definitely no one. So it’s vital to keep your eyes wide open and research thoroughly about your intended wallet. However, at the end of the day, it’s all your decision because no one but you know your needs well. Bearing in mind everything, you should go with your thoroughness because only you know what’s best for you. We hope that we have helped you in finding the most desirable wallet.
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