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Which IOTA Wallet For Storing Your MIOTA Coins?

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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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Altcoins

KaratGold Proves Its Business Model By Providing Official Documents

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There has been a lot of renewed enthusiasm in the cryptocurrency market thanks mainly to Bitcoin’s strong move about 10,000.  Although Bitcoin continues to show its dominance, the altcoin market has yet to benefit from that rally.  A few of the largest altcoins remain popular but the rest of the market continues to lag behind.  In 2018, there was a lot of talk regarding a possible altcoin apocalypse where only the strong would survive.  That prediction appears to be playing out as expected.  Going forward, only the best projects that have a real world need will survive.  Crypto traders will have to spend a lot of their time doing proper research in order to find the best opportunities, just like in all financial markets.  One promising project that appears to have the makings of a future winner is KaratGold Coin.

KaratGold Background

KaratGold Coin is a cryptocurrency developed by the reputable German company Karatbars International, which maintains a leading position in the market of small gold items and investments. The project is part of a larger ecosystem, which involves several blockchain solutions that can be used for transactions, communication, investing and other tasks. During the past few weeks, however, the KaratGold ecosystem has been a target of unsavory scam allegations.  

Karatbars International and GSB Gold Standard Banking Corporation…

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ICTE May Bring About Sweeping Changes for Cryptocurrency Exchanges

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Cryptocurrency has taken the world by storm during the last few years. An entirely new financial market was created almost overnight which has captured the imagination of all its participants. Cryptocurrency is even starting to attract institutional money from investment banks, hedge funds, and other proprietary trading firms. Despite the rapid growth, traders remain extremely frustrated by having to deal with the fragmented nature of centralized crypto exchanges.

A Change is Needed

When cryptocurrency first began, there weren’t many participants and the trading volume was relatively insignificant. But, over time, that has radically changed. Some tokens now have a capitalization in the billions and are being traded 24-7 by institutions all over the world. Despite the volume, significant problems exist with the current way that exchanges work. Some of those problems include the following:

  • Constant fear of hackers
  • Exchange manipulation
  • Fragmented liquidity
  • Risk of identity theft

One of the biggest issues regarding centralized exchanges is the risk of being hacked. These hack stories seem to always be circulating around the internet. While experienced traders may have the tools to avoid becoming a victim, potential new traders have zero interest in dealing with this. And it’s not just the small exchanges that are at risk. Even large exchanges, such as Mt. Gox and Binance, are subject to being hacked.

Another huge risk is having to deal with…

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SonicX and Dash Could Challenge Facebook’s Libra for Global Payments Market Share

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When Satoshi Nakamoto unveiled Bitcoin to the world, the dream was always for Bitcoin to serve as a new universal currency.  It would be free from the bureaucracy of governments.  And free from the tyranny of the old-world financial cartels.  Although the dream hasn’t yet materialized, it comes closer and closer with each passing day.

One of the biggest roadblocks for Bitcoin has been scalability.  At a speed of approximately 7 transactions per second, Bitcoin lags behind other cryptocurrencies like Ripple and global payment processors like Visa.  Many expect the lightning network to have a positive impact on Bitcoin’s TPS but until that comes to fruition, mass adoption will likely need another significant development.

Libra Currency Announcement

One development that could help pave the way toward mass adoption is the launch of the Libra currency.  Libra is expected to go live during the first half of 2020 according to Facebook’s June announcement.  According to Facebook, Libra will make sending money online cheaper and faster.  It will also have a hand in improving access to financial services, especially for the unbanked.  Given Facebook’s global reach, including many third world countries, providing financial access to the unbanked could provide a huge spark to global economies.  Additionally, it could provide the growth spark that cryptocurrency needs.

Facebook’s most popular messenger, WhatsApp, has approximately 1.5 billion monthly users.  This application is…

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