10 years ago, Satoshi Nakamoto created Bitcoins, an electronic peer to peer cash system that allows people to make online transactions without the hassle of bank charges or exchange rates. Today, there are a number of digital currencies available on the market such as Ethereum and Ethos and they are becoming increasingly popular amongst traders.
There are a lot of reasons why digital currency trading is becoming increasingly popular but one of the main reasons that contributed to its success is how its usage of Blockchain technology in E-wallet to ensure trading is easy.
Unlike our normal currency, Bitcoins and other digital currencies only exist in digital form – you can’t feel it or touch it like you do with money. However, like money, it needs a place to store and this is where an E-wallet comes in handy.
An E-Wallet can be downloaded straight to your mobile devices and most of them are compatible with both Android and iOS. Registering your identity would be the most tedious part of having an E-Wallet as you would have to go through a few steps to ensure your identity is verified and your account is secured.
The best part about having an E-Wallet is that it is impossible to have your Bitcoins stolen from it. When you install an E-Wallet, Blockchain technology will generate a combination of the recipient’s public key and your private key – in which only you can control to make sure that transaction is possible.
E-Wallets also generate QR Codes that makes transferring coins to other users easier. In some cases, you can even make purchases at your typical retail store using an E-Wallet.
At the moment there are a number of E-Wallets available for mobile devices such as Airbitz and Bread and while they all have their own trademark, they all have one common goal in mind- to make Bitcoins trading easy and secure.