Important Types Of Cryptocurrency Wallet You Should Know #010

jueco (76)in Tron Fan Club • last year

Hello crypto friends,

It is a beautiful day today and I am happy to come before you all today to discuss on another cryptocurrency topic which we are yet to conclude.

I believe you are all doing perfectly fine and are enjoying your activities in the community 😊, that being the case, I immediately begin my discourse for today.

Today, we shall continue on the different types of cryptocurrency wallet we have available, please stay tuned:

MOBILE-ONLY WALLET:

Mobile only wallet can be explained to be a mobile application which can be used by individuals to manage, store and securely make use of their financial information over a mobile device.

A mobile wallet helps to function as a digital counterpart to physical wallet that is popularly used by individuals to carry cash and make other useful payments.

There are so many functionalities offered by a mobile only wallet, a mobile only wallet gives users the ability to link their debit card, credit card and bank account to the application, thus permitting them to make electronic transactions.

The transactions permitted by the mobile only wallet may include person-to-person transaction, online payment, near field communication technology and in store payment.

The mobile only wallet allows users to make contactless payment using the NFC technology.

This feature allows users to make payment by tapping their smartphones. And this feature is popularly known as the contactless payment method or the tap-and-go payment method, thus making it easy to make purchases without the need for physical cash.

Inorder to ensure security of user's funds, there are so many measures put into place and some of this includes biometric authentication, password or pin protection, encryption and tokenization.

Tokenization serves as a replacement to a user's sensitive information, thus protecting it against any fraudulent act.

WEB-ONLY WALLET:

A web only wallet which is popularly known as a browser based wallet is a type of a digital wallet that can only be assessed through a web browser.

A web only wallet is created to manage and store cryptocurrencies such as bitcoin, ethereum etc.

The web only wallet unlike the hardware and software wallet which needs installation before it can be assessed, is a wallet that do not need application installation but can be accessed through a web browser.

CONCLUSION

It is very important that we know the different types of wallet as this will help us to know which wallet is most convenient for us to make use of.

Stay tuned as we shall examine more types of cryptocurrency wallet.

#fintech #steemexclusive #steemit #tfc #nigeria

last year in Tron Fan Club by jueco (76)

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