Authorizing crypto transactions on the Klever wallet
The need for a proper authentication has saved users as means of security from unwanted loss
Blockchain technology and the crypto space has been plagued with so many fictitious projects and especially ones without use cases.
This has also led to the proliferation of various blockchain wallets designed to meet the ever increasing demand of the crypto world with people searching for the best wallets to store and trade the cryptocurrencies.
The security issue
Most of the initial developers of crypto wallets were not futuristic enough to see their projects scale to accommodate the present day realities of trading, sending and receiving tokens and coins respectively.
This led to massive large scale irregularities associated with such platforms or projects.
There were also issues of the owners and developers of such projects having their rug pulled or being attacked by hackers who stole large amounts of crypto from users of such wallets as the wallets were centralized and custodial in nature.
This was observed to be the trend from the year 2017 to 2020 which made new users of crypto currency to be skeptical as to which wallet type to use for their storage of their cryptocurrencies.
Then came the Klever wallet in 2020, which is a decentralized p2p and self-custody wallet network, putting the private keys in the hands of their users, thereby making them their own bank.
Klever team had taken time to study the needs of the old and intending users which has given birth to the most user friendly and world acclaimed best crypto wallet ‘till date.
This is because the Klever wallet was designed in a very special way to not hold any of your passwords in any server nor does it hold your login details like your email and private keys.
This actually gives the user the power to be in charge of their data and by extension the controller of their own funds.
How are crypto transactions authenticated in the Klever wallet?
The Klever wallet is designed using the latest and most secure encryption technology available, which not only keeps the wallet safe from hackers but ensures the user authentication is only validated by the user, being available as a private key generated by a 12 randomly selected word seed.
This system is so valuable that even when a wallet is newly created by downloading the app from the Google Playstore or Apple’s App Store, the new user is expected to save the 12 word seed phrase in a safe offline place (like a piece of paper) where he or she deems it safe from any threat and in which no one will have access to it.
Subsequently, the new user is expected to choose a 6 digit pin code combination for extra security that can also be replicated with a biometric registration for level 2 security.
Klever actually adds that second layer of security and encryption for a security measure, which makes the Klever wallet one of the most secure applications in the world of crypto today.
The 6 digit pin code is used to authorize any transaction done on the Klever wallet for the safety of the user during operations like send, swap, buy, as these operations require little or no expertise in the use of the wallet.
This has increased the level of security to the Klever crypto wallet and indeed made it a preferable choice for new users and old users alike.
Indeed Klever is simple.
By James Enajite