With the boom in the emergence of cryptocurrencies, the usage of blockchain wallets are also escalating. Crypto enthusiasts’ adopting and tending towards the finest blockchain technologies for secure and authentic cryptocurrencies storage.
With the increase in cryptocurrencies trading and elevation in crypto customers, there are many issues and queries arises about blockchain number, wallets and technology. Transactions in cryptocurrencies are irreversible and it is pivotal to have comprehended about crypto wallets security and storage.
There are different types of blockchain wallets with distinctive features and storage. Blockchain wallets are amalgamation of crypto customer public address and private key.
Some of the highlighted types of blockchain wallets are:
- Desktop wallets: For PC’s
- Smartphone wallets: blockchain wallet applications for mobile.
- Online wallets: online access to blockchain wallets through any browsers.
- Hardware wallets: portable blockchain wallets like pen drives.
- Paper wallets: on paper stamped documents.
According to facts and journals;
- 90% of European and North American banks were exploring blockchain in 2018.
- The global blockchain technology market is estimated to accumulate $20 billion in revenue by 2024.
- Blockchain can reduce 30% of banks’ infrastructure costs.
- Financial companies can save up to $12 billion a year from using blockchain.
- More than 90% of people engaging in Bitcoin are men.
- FBI owns 1.5% of the world’s total bitcoins.
- 55% of healthcare applications will have adopted blockchain for commercial deployment by 2025.
- The financial sector has spent a total of $552M on blockchain in 2018.
With the elevation of crypto users, there are low adoption rate blockchain wallet support services because of half-knowledge, security threats, dysfunctions and application glitches.
Solutions for some of the major issues with blockchain wallets are:
Fund Recovery options
If there is any trouble in the recovery of funds from any blockchain wallet, crypto users can apply for backup of funds from the security center. they’ll provide crypto user new user I.D. with recovered funds from locked one.
Issues related to DNS
Every operating system has its DNS settings. DNS assist to obtain I.P. addresses of websites which can help crypto users to retrieve their information.
2FA option for resetting account:
2FA caters to the supplementary option of blockchain wallet security. If any crypto user lost his wallet device or any other issue, 2FA features to revive your data by simply send you pin one registered and authorized number or email for two-factor verification on Blockchain.
Issues related to Browser:
If the blockchain wallet is not working properly on the browser, the user should take expert assistance by customer support number that is Customer support executive will aid remotely with security. Initially, the user can try to reload a webpage or try to open the same URL via browser history.
Set up remind option:
Setting up a reminding option will help to get forgotten user I.D on registered and authorized email that is linked from blockchain wallet I.D.
Blockchain security must be the priority for every crypto customer care. Users should do well research before opting for wallets and may not pile the entire fund in one crypto wallet. Wallet users should take authorized assistance for the recovery of wallet I.D.