Features of Electronic Wallets
Before you select an electronic wallet and start using it, it's important to know some of the features that these wallets have. These features help you make the right choice
Multi-Currency or Single-Use?
Although bitcoin is one of the most well-known and popular digital currencies, hundreds of new cryptocurrencies (called altcoins) have appeared, each with different ecosystem and infrastructure. If you are interested in different cryptocurrencies, the good news is that you do not need to open a separate wallet for every currency. Instead of using an electronic wallet that supports only one currency, it is more convenient to create a multi-currency wallet that will allow you to use several currencies in one wallet.
Is there a transaction fee?
There is no direct answer to this question.
In general, the transaction fee is a small part of the traditional bank fees. Sometimes, the fee should be paid to network operators for specific transactions as processing fees while some transactions don't have a fee at all. It is also possible to indicate your own fees. For instance, the average transaction of 226 bytes will be 18,080 satoshis, ie 1.2$. In some cases, if you choose the lowest price, your transaction may be given a lower priority, and you will have to wait for hours or days before the operation is confirmed. If you need to confirm the transaction soon, then you will have to increase the fee. No matter which wallet is used, the transaction fee is not what you need to worry about. You either pay a very small fee or choose your own price or you will not pay for it at all. This is a clear improvement of the past!
Is the electronic wallet anonymous?
Not fully. wallets are pseudonymous. It is not attached to the true identity of the user, but all operations are kept publicly and permanently blocked. Your name, or personal street address will not appear here, but it is possible to use the data such as a wallet address, to identify your identity in different ways. As long as you try to achieve anonymity and confidentiality, there are obvious flaws in achieving complete anonymity. See DarkWallet's (dark wallet) project, which seeks to strengthen confidentiality and anonymity by mixing hidden addresses and quotes.
