Essentials Of Neotracker Web Wallet You Need To Know
Post the year 2017. The cryptocurrency industry has faced a huge upsurge in its overall demand. Since then, a lot of capital has been shifted to the crypto form. But the question lies as to where one should store their crypto without having to face third-party intervention. Thus, cryptocurrency storage wallets have come up to facilitate the purpose. The web wallets for storing cryptocurrencies are designed so that the users would find it highly convenient and secure to deal with them. Various forms of cryptocurrencies are available in the market. NEO is simply one of the varieties of altcoins. This article special deals with a web wallet to store and transact with NEO, the neotracker web wallet.
Features of it
The web wallets can be categorized as hardware and software wallets. The hardware wallets are the most preferred ones as the access key is saved in an external device that too can be accessed offline, thus enabling fewer chances for the key being hacked or misused. The neo tracker stores all relevant information on your device itself and is completely secure from any sort of outside interference. It also comes attached with an inbuilt explorer, thus making it a trending piece available in the online world of web wallets.
Its pros and cons
Everything comes attached to its own set of pros and cons. Hence the pros followed by the cons of the web wallet may be enlisted as under:
● Lightweight: the involvement of the whole blockchain is not needed; hence this is quite a great advantage for the users.
● Open source: all people that have been added to the network can easily have access.
● Private control: after setting up the key, it is you who knows it, and no one else does, thus ensuring complete privacy.
Moving to its disadvantages:
● No hierarchy: security is maintained only through encryption, and no hierarchical determination is existing.
● Authentication is poor: there is no facility for verification more than once; hence that is quite a disadvantage for the users.
● Only single signature: while carrying out transactions, only one signature does the job, and this too is a weak point that needs to be developed in a way for overall betterment.
To conclude, the present era of encrypted currency, i.e., cryptocurrency, requires a lot more security and preventive measures to avoid any sort of mishaps from occurring. With increasing demand from the industry, the security concerns have also been addressed simultaneously so that its users can have a reliable experience while dealing with their crypto assets and making transactions in the online mode of convenience. Hence, the online web wallets are a great rescue in this regard. Though there are not many options present in the market for you to choose from, with each passing day, you can expect more variations holding higher security measures as compared to the present scenario. Hoping this article will be helpful.