The field of cryptocurrency technology is blooming. Hundreds of cryptocurrencies and altcoins are traded and circulated in the blockchain every second.

Although not all investors believe in the authenticity and position of cryptocurrencies in the market, the number of crypto investors and exchanges is constantly increasing. Every user, to store the fiat assets they hold and make transactions, needs a digital wallet for cryptocurrency.

Blockchain activists tell each other that if the money is not in your crypto wallet, it’s not your coins. That shows how important a cryptocurrency wallet is when you want to buy, sell, or invest in your favorite cryptocurrency. The following article will help you learn how cryptocurrency wallets work and review one of the most trusted and versatile wallet applications – Touchwallet.

Digital wallets – types of wallets and how they work

First of all, it is necessary to understand how virtual currency wallets work. You need to know that in fact, wallets do not store your crypto money, but each coin will be stored on its own blockchain. The wallet’s job is to help you interact with the blockchain of the coin you choose and allow you to make secure transactions with public and private keys.

The public key is understood as your bank account number. In transactions, if you want to receive or send cryptocurrency, you need to share this address with other users. Whereas a private key acts like a bank account password, or a secret pin when you log into your account and use your coin assets, which only you are authorized to know.

There are two crypto wallet variants for users to choose from, depending on their intended use.

Cold wallet: A compact, detached device that contains the security keys for the coins it supports. This is a hardware wallet with a chip that you must carry with you if you want to make any transactions.

The risk of being hacked over the internet is limited, but the processing speed of transactions is quite slow because of the time it takes to get online, and the possibility of losing a high-priced device when it’s detached doesn’t seem like the most convenient and safe option.

Hot wallet: improving the disadvantages of cold wallets, a hot wallet software or application is online more often, allows for much faster interface processing, the ability to store multiple currencies, and accessibility anytime, anywhere from a mobile device with an internet connection.

Many users worry about the security of hot wallets because it basically works online. Additional efforts to improve confidentiality for crypto-asset holders, therefore, are not only a customer concern but a critical task for wallet developers.

Touchwallet and all about using this crypto wallet app

You probably already guessed that Touchwallet is a hot wallet by calling it a software application. Born in recent years, while the previous wallets are struggling with changing algorithms to gradually improve the security of their platform, TouchWallet presents it all, rising to become the most popular crypto wallet.

Customer reviews cite the security and anonymity of Touchwallet’s advanced Mixer technology as why it stands out and grasps such rapid growth. It makes sense because who doesn’t care about the safety and privacy of their personal information, activities, and their assets? Short-term investors and new crypto players appreciate Touchwallet because of its easy-to-use interface and fast processing speed that makes exchanging and trading activities happen quickly without any hassle.

Meanwhile, conservative investors like the fact that Touchwallet integrates cross-platform and allows early investment with the PreICO feature. It seems this is the perfect choice for anyone who is holding digital currency and wants financial profits from activities on the blockchain system.

Set up a Touchwallet account

The Touchwallet cryptocurrency wallet software can be downloaded to any Android or iOS mobile device from Google Play or PlayStore. The platform supports a variety of languages including the popular English language and the language of its developer – Russian.

Signing up for an account is very simple and only requires your minimum personal information is an email address. You can completely use Touchwallet to trade immediately after confirming with the code sent to your registered email.

Cryptocurrency transactions, withdrawals, and exchanges

The TouchWallet digital wallet supports 6 leading market capitalization cryptocurrencies including Bitcoin (BTC), Ethereum (ETH, Tether (USDT), Binance (BNB), Litecoin (LTC), Dogecoin (DOGE). On the display page of each currency, users can see the balance in USD fiat currency, the current rate according to the Binance exchange rate, and tools tabs for depositing, withdrawing, exchanging, and optional settings.

In the options settings tab, you can access a wide range of other fiats and altcoins.

“Top up balance” function for the wallet owners to get the wallet address and send it to other users. Different coins have their separate unique wallet addresses.

The “Withdraw funds” tab shows you the minimum and maximum withdrawal amounts, the amount you want to withdraw in fiat and crypto, the conversion rate of the Binance exchange, and a crypto mixer toolbar. To withdraw you need two-factor verification, and if you want complete anonymity, enable the crypto mixer. It is the latest and most advanced tool that makes your crypto activities untraceable.

This technology works by splitting withdrawal funds, mixing them with equivalent fractions in the blockchain from other users, and returning them to the receiving account. The amount you withdraw, and the information about your source or destination account, therefore, cannot be traced if any third party wants to find out.

The exchange tool allows you to exchange your assets with another currency within your wallet with the current exchange rate.

Other features

Users have the ability to rent cloud mining energy, only need to choose the asset type and mining term and expand their fiat asset.

In addition, PreICO is especially beneficial for those who are looking for long-term investment and large dividends in the future. Investors can buy tokens of new projects that have not been listed on the public exchange yet and benefit when the exchange rate increases after they are open for sale.

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