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Which IOTA Wallet For Storing Your MIOTA Coins?

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IOTA wallet

Joining the IOTA (MIOTA) community is a big step, and definitely one of the best decision that a new crypto investor can make. IOTA’s goal is to create an infrastructure that would allow transactions between different IoT devices.

IOTA is currently the 11th largest coin per-market cap, and its value is at $0.565739. However, if a new crypto investor decides to buy IOTA coins, they will first need a safe place to store them. This is where IOTA wallet comes in, as many of them can offer more than decent protection and an efficient way of storing funds.

Even so, not all wallets are the same, and choosing the right one is a very important step. IOTA doesn’t have an especially wide range of wallets that can store its coins. However, there are a few of them for investors to choose from, which is why we will now check them out, and try to determine which IOTA wallet among them is the best.

What to look for in an IOTA wallet?

Before we proceed to compare the wallets, we should first mention the criteria used for picking the best ones. These are the things that each wallet needs to have in order to be considered as one of the best wallets for IOTA.

First and foremost, of course, is compatibility with IOTA. This is necessary for obvious reasons — IOTA coins cannot be stored in a wallet that doesn’t support them. Next, the wallet needs to be easy to use, so that new investors would find it practical and efficient. It also needs to have as many security features as possible, to prevent theft, fend off hacking attacks, and alike.

Backup options are also a very useful feature, especially when it comes to making a backup of a private key so that the funds can be recovered in a situation where an investor cannot access the wallet manually. Finally, there is customer support, as well as continuous development. Good customer support is important for situations where there is an issue that the user cannot handle on their own. An ongoing development is also important since technology advances all the time, and the wallet needs to be able to handle new threats, as well as to make using it more and more practical and efficient.

With that in mind, let’s take a look at three IOTA wallets that are seen as the best ones. Those include GUI Light Wallet, Nostalgia Light Wallet, and IOTA Wallet for Android.

GUI Light Wallet

GUI Light Wallet is, as the name suggests, a lightweight wallet that is incorporated into IOTA’s own GUI (Graphical User Interface). It allows quick and easy access to stored coins, and upon downloading it, the user can decide whether the wallet should run a light node or a full node. For beginners, the light node is usually the best choice.

The wallet is easy to set up, and it allows the user to connect to a public node. Its interface is easy to understand, and wallet can be used on Windows, Linux, and Mac alike. Additionally, it will leave the user’s private key in their possession. The only issue with it is the fact that it may be a bit confusing for those users that are not tech savvy. While the setup process is not is relatively simple, even the choice between full and light node can be confusing.

Nostalgia Light Wallet

Nostalgia Light Wallet is another example of a pretty good IOTA wallet, and it is mostly used by those who do not want to use GUI or take advantage of their computer for running a full node. Nostalgia wallet’s code can be modified so that it can connect to IOTA’s server. This can be done through the use of Text Wrangler.

Doing all of this can be quite simple for those with experience when it comes to technology. However, tech novices will likely find it very difficult to do or understand. All in all, the wallet is pretty good and fast but complicated for beginners, which is why it is mostly only interesting to only the most experienced users.

IOTA Wallet for Android

This is Android’s official IOTA wallet app. It is a light client, created for quick and easy access to stored coins. It is also open-source, and it can be downloaded and used for free. Using it is reasonably easy, and there should be no issues with trying to understand what to do, and how to do it.

The wallet has several other features, including a seed generator, QR code support, seed password protection, as well as the ability to quickly see IOTA balance. Additionally, the wallet also offers a live Tangle explorer.

The downside is that it is only available to  Android users and that it has no iOS version of the app. Also, there have been complaints regarding bugs.

While these wallets have their positive and negative, new ones will come in due time, and will likely find a way to fix the issues that the current wallets are struggling with. This technology is still quite new, after all, which is why difficulties are expected at first. Eventually, even the most complicated IOTA wallets will be simplified, while the bugs will be removed.

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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

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XNO Token of Xeno NFT Hub listed on Bithumb Korea Exchange

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Hong Kong, Hong Kong, 25th January, 2021, // ChainWire //

Xeno Holdings Limited (xno.live ), a blockchain solutions company based in Hong Kong, has announced the listing of its ecosystem utility token XNO on the ‘Bithumb Korea’ cryptocurrency exchange on January 21st 2021.

Xeno NFT Hub (market.xno.live ), developed by Xeno Holdings, enables easy minting of digital items into NFTs while also providing a marketplace where anyone can securely trade NFTs.

The Xeno NFT Hub project team includes former members of the technology project Yosemite X based in San Francisco and professionals such as Gabby Dizon who is a games industry expert and NFT space influencer based in Southeast Asia.

NFT(Non-Fungible Token) technology has recently gained huge focus in the blockchain arena and beyond, making waves in the online gaming sector, the art world, and the digital copyrights industry in recent years. The strongest feature of NFTs is that “NFTs are unique digital assets that cannot be replaced or forged”. Unlike fungible tokens such as Bitcoin or Ether, NFTs are not interchangeable for other tokens of the same type but instead each NFT has a unique value and specific information that cannot be replaced. This fact makes NFTs the perfect solution to record and prove ownership of digital and real-world items like works of art, game items, limited-edition collectibles, and more.

NFTs are already being actively traded in markets globally. For…

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Should Crypto Projects Devote Resources to Community Growth and Marketing?

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2020 has been an incredible year for crypto as investors have generated windfall profits and crypto projects have seen their businesses gain the spotlight they’ve been looking for.  While Bitcoin has received most of the attention after major institutional investors announced they were accumulating the increasingly scarce asset, many altcoins have also seen their fair share of glory.  When looking at all the big winners of the past year, the first project that probably comes to mind is Chainlink, having appreciated by more than 550% YTD and now valued at over $4.5 billion.  But, the actual biggest winner of the year is HEX with a YTD return of over 5,000%.

I mention both of the above projects as they have each taken slightly different paths to achieve greatness.  Chainlink has devoted resources toward building a fundamentally sound business with many strategic partnerships while HEX has spent vast sums of money on marketing and promotion.  Both approaches are valid, but one thing is certain, it is absolutely imperative for crypto projects to let the crypto community know what makes them special.  Of course, one of the reasons that makes crypto so valuable is the powerful blockchain technology that most projects are utilizing.

Cryptocurrency vs. Blockchain Technology

It’s important to make a distinction between blockchain technology and cryptocurrency.  Although they are often used interchangeably, they are different.  Blockchain technology and crypto were both created after the 2008 financial crisis, but cryptocurrency…

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XENO starts VIP NFT trading service and collaborates with contemporary artist Hiro Yamagata

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Hong Kong, Hong Kong, 24th December, 2020, // ChainWire //

The XENO NFT Hub (https://xno.live) will provide a crypto-powered digital items and collectables trading platform allowing users to create, buy, and sell NFTs. Additionally it will support auction based listings, governance and voting mechanisms, trade history tracking, user rating and other advanced features.

As a first step towards its fully comprehensive service, XENO NFT Hub launched a recent VIP service to select users and early adopters in December 2020 with plans for a full Public Beta to open in June 2021. 

“NFTs are extremely flexible in their usage, from digital event tickets to artwork, and while NFTs have a very wide spectrum of uses and categories XENO will initially focus its partnership efforts and its own item curation on three primary areas: gaming, sports & entertainment, and collectibles.”, said XENO NFT Hub president Anthony Di Franco.

He also added “This does not mean we will prohibit other types of NFTs from our ecosystem However, it simply means that XENO’s efforts as a company will be targeted into these verticals initially as a cohesive business approach.”

Development and Procurement Lead, Gabby Dizon explained, “Despite our initial focus, we found ourselves with a unique opportunity to host some of the works of Mr. Hiro Yamagata. We are collaborating with Japanese artist Hiro Yamagata to enshrine some of his artwork into NFTs.”

Mr. Yamagata has been…

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