How Klever secures your crypto assets in the Klever Wallet?

Among a constellation of crypto wallets, Klever Wallet stands out as powerful, secure and easy-to-use application.

There is a great need to be financially intelligent in the world we are living in.  The era of financial misconduct from the fiat monetary system has led to the financial crisis affecting the world today where all sorts of atrocities are perpetuated by those in whom we have entrusted our finances as custodians. 

A financial shift from fiat to blockchain technology occurred in 2009, when Satoshi Nakamoto launched the first digital currency Bitcoin. Developed on the blockchain technology, it had attracted minds from all over the world to a new order of digital transactions over the internet that had replaced the old system of executing financial transactions.

This initially looked like an impossible task to achieve but this technology was developed based on the infallibility of mathematics fundamentals. There can only be a finite number of coins that can be produced over a given period of time, thereby making Bitcoin more valuable than other forms of money, especially fiat.

Dealing with crypto requires caution

However, as much as you acquire these cryptocurrencies with rare resources, it is pertinent to note that without a secure wallet, the funds of individuals can be easily stolen if not properly protected. Several issues of cryptocurrency theft have been recorded over the years as a result of either negligence of the owners or because they did not take proper precautions and proactive steps to ensure the safety of their funds. 

This could be as a result of individuals storing their funds on an exchange for a long period of time and hackers being able to attack such exchanges and subsequently move away with the funds of customers. Alternatively, some users might even store their funds on wallets with a higher level of vulnerability on their system.

Wallet systems

Below are the various types of wallet systems:

  1. Centralized wallets and exchanges are trading platforms that, in essence, function in the same way that a traditional brokerage account or stock exchange would. Central exchanges are owned and operated by a central third-party that maintains ultimate authority over the exchange, account, wallet, and transactions.

  1. A decentralized wallet means that the holder of the keys will be the sole person who has access to the crypto wallet. It allows the holder to use the keys to send or receive cryptocurrency anywhere on the planet. Some people regard a decentralized wallet to be anonymous, but it is not. It is pseudonymous.

  1. A hardware wallet is a type of cryptocurrency wallet where you can store your private keys in a secure physical device. The cryptocurrencies stored in the wallet are kept offline, making it more secure against malicious actors. When needed, the coins stored are readily available. 

  1. A paper wallet is a piece of paper that contains the private keys that are used to facilitate cryptocurrency transactions. Because they are removed from the internet, at one point paper wallets were considered to be more secure than other forms of cryptocurrency storage.

Our decentralized approach to crypto wallets

The Klever team with the vision of making the user experience and funds of the users safe at all times has taken it to a whole new level by the introduction of the Klever wallet in the year 2020. Although there are several other wallets in development even as we speak, the Klever wallet, a decentralized p2p and self-custody wallet, stands out by putting the keys in the hands of the users. Users can also buy cryptocurrency with a credit or debit card from anywhere in the world and receive their purchased coins in their wallets in just a few minutes, with full security inside the Klever app. 

The wallet boasts of a high-level encryption technology which helps to prevent theft that can come in form of hacking, mobile SIM number swapping and other techniques used in defrauding users. All the user needs to do is to ensure they never share their private keys or seed phrase with anyone, no matter who they are as this is the only way their wallets can be compromised.

You can only retain wealth if you are Klever about how you secure your crypto assets, especially in a Klever wallet.

James Enajite

Klever Writer

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