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VeChain has seen a good deal of praise and controversy over time. Some call this project the Blockchain-as-a-Service company to revolutionize modern supply chain management.
Focusing on sectors such as luxury goods, agriculture, manufacturing of medicines, clothing, food, etc., VeChain promises to offer a reliable and distributed business ecosystem to enable transparent information flow, efficient collaboration and high-speed value transfer. "
VeChain technology keeps track of items through their production / shipping cycle, ensuring that the end customer receives an authentic and complete quality product.
Others do not support the project and its cryptocurrency so much, calling it a straight scam. VeChain is often criticized for being a theft of Ethereum; some also point out that their "collaborations" with BMW, Oxford and other large companies and government agencies were not exactly real. Their X-Nodes program also saw a good deal of criticism.
But we will not elaborate on any of these positive / negative aspects on VeChain in this article. This piece will assume that you have completed your due diligence, collected enough information about the project and decided to purchase the VeChain tokens. Of course, in order to buy / own a cryptocurrency, a wallet is needed that can keep it; further down, we have compiled a list of the best portfolios on the market for storing VeChain.
How to store VeChain?
Storing your VeChain will require you to obtain a cryptocurrency portfolio. You can choose to store your VET on the wallet of the bag in which you purchased the token, however this can be risky. Storing your crypto on exchange means that you leave the private keys of your wallet in the hands of that exchange. Exchanges are centralized entities (something that should be replaced with the birth of DEX) and centralized entities are vulnerable to external attacks. If someone hack says, an employee of an exchange, that someone can then potentially access the private keys database of the exchange; once inside, it will not be that hard to steal cryptography from many people, including you.
The portfolio that you want to use is typically one that allows you to keep control over your private keys. Table wallets, mobile wallets, paper wallets and wallet hardware are advertised as the safest options available. The desirable features of an average portfolio include more security measures such as password encryption, 2FA and PIN codes that block access to the portfolio. Ensuring that the wallet is supported by the VeChain project and that it is continually developed is the last thing you should watch out for. And now the real VeChain wallets that you can use to store VET tokens:
The VeChain Thor mainnet was released this summer and was immediately followed by a native wallet application. The initial version of VeChainThor's portfolio came in the form of a lightweight mobile wallet app, which aimed to provide a "powerful, secure, simple and fully functional portal to the VeChainThor blockchain". The wallet can be downloaded in both iOS and Android versions.
VeChainThor's mobile wallet has been praised by the community as a simple and reliable way to store VET / VTHO tokens. The portfolio has several useful features:
- Robust security protection: VeChainThor Wallet has undergone a series of security tests by third-party security companies, including functional testing, source code review, intelligent contract audit, session management audit, input security monitoring, etc. It also offers 2FA protection and fingerprint protection to the portfolio owner. Other security features include POST data encryption, access control, jailbreak / root control, HSTS certificate checking, repetition prevention, local data encryption, packing protection, reverse protection and more .
- Multi-platform Crypto Asset management: VeChainThor's portfolio provides a safe and effective environment for cryptocurrency transactions. With the ability to view wallets, users can actually execute the VET exchange token, the X Node link and observe the balance of their cryptographic assets in their VeChainThor hardware / desktop portfolios (VeChain hardware portfolio should be released soon).
- X Node Binding Service: Participants in node X are able to transfer the status of node X from the Ethereum portfolio (eg MEW) to the VeChainThor portfolio using the X-node Binding service. This process allows X Node holders to earn VTHO by targeting VET tokens .
- VTHO awards: The Thor wallet can be used to request VTHO awards. These are received in several ways, including simply holding the VET tokens and possessing an X node.
VeChain plans to add many features to future versions of VeChainThor Wallet, including an identity system, integration with VeVID and a dApps browser. Overall, this solution is ideal for people who own an iOS or Android phone and want a lightweight solution for storing their VeChain.
VeChainThor's desktop portfolio was released some time after the mainnet launch and brought the much sought-after Windows / Mac OS for VET token storage. The portfolio is stored on Github under the name thor-sync and is currently still under development. The same Vechain states that the portfolio is an "experimental software" that should be used at your own risk; however, the community believes it is quite decent to access the VeChain blockchain and send / receive cryptocurrency.
Atomic Wallet functions as a decentralized portfolio platform for crypto-free, immutable, crisscross and transparent cryptocurrency transactions. Trading takes place on the decentralized exchange of atomic exchanges in the portfolio. This exchange allows users to operate without the need to register and perform annoying KYC / AML intruding privacy checks. By enabling cross-exchanges of anonymous chains without the risk of third parties, the portfolio is a secure and private solution for the management of cryptocurrency. Atomic Wallet is able to store over 300 cryptocurrencies, including the IFP.
The portfolio offers a number of features, including instantaneous old-fashioned exchange or cross-chain atomic exchanges through two integrated exchanges, Changelly and Shapeshift. The portfolio is a desktop type, suitable for Windows, MacOS, Ubuntu, Debian and Fedora. With low costs, a wide variety of coins on offer and an optimized user interface, this portfolio is available for your Linux / Windows / Mac desktop. Mobile wallets should happen soon.
Trust Wallet is an iOS and Android portfolio that offers secure and reliable storage for various types of encryption. You can consult the Trust Wallet open source code online and the app has been reviewed by security experts, Stateful. Trust Wallet can also be accessed via the online browser. The portfolio allows you to send, receive and store various types of cryptocurrency tokens:
Ethereum (ETH), all tokens ERC20, ERC223 and ERC721, GoChain (GO), POA Network (POA), Callisto (CLO), Ethereum Classic (ETC), Wanchain (WAN) and VeChain (VET).
The wallet stores the private keys of the user locally, on his device, which is an important security feature. However it does not offer 2FA. It has a backup function for the simple recovery of your wallet and offers an integrated decentralized exchange thanks to its partnership with Kyber Network. Another feature of Trust Wallet is an integrated Web3 browser that allows you to interact with decentralized applications directly from the Trust Wallet app. Overall it's a simple and solid mobile solution that offers more flexibility than the original VeChainThor wallet, but sacrifices some security features for this.
Cobo Wallet is another solution that aims to provide simple and secure storage for your favorite cryptocurrency. It is a hardware / mobile portfolio that has some impressive features, including:
- Secure Data Transfer: the wallet is "air-gapped" to keep your transactions safe from hackers. Eliminate all WiFi / Bluetooth / NFC / bandwidth features to prevent attempts to attack from the network
- Military Durability: Cobo is the first hardware portfolio to meet the US military standard MIL-STD-810G with IP68 rating and IK9 certification
- Multi-currency support: Cobo offers support for BTC, ETH, BCH, DASH, LTC, ETC, TRX, EOS and 500+ ETH, TRX, EOS tokens
- Next-Generation Security: A proprietary bank-level encryption chip with customized firmware that meets the BIP 32, 39 and 44 protocols to ensure that the private key is stored in the encryption chip at all times
The hardware portfolio harnesses security, including a self-destruct mechanism that prevents lateral channel attacks, Web authentication to prevent supply chain attacks, the elimination of all USB ports to prevent active attacks, # 39; Firmware update via TF card and multisig functionality for maximum security. Meanwhile, the mobile wallet offers the possibility to stake out POS portfolios and raise income. It also offers a dApp browser, an integrated dApp store, and a developer dApp SDK. Cobo is a relatively new player on the market, but it seems he will stay there for a long time.
Ledger Nano S is one of the most popular wallet solutions on the market. The wallet is a hardware solution that can store your Bitcoin, Ethereum and many other altcoins. The wallet is the safest storage option for your cryptocurrency. The portfolio has long been a mainstay of the crypto community, with everyone from the average novice to the experienced investor, who recommend it as one of the best storage solutions.
The device looks like a USB device and has an OLED screen that allows you to monitor your transactions. It can be connected to a computer via a USB cable that allows Ledger Nano S to connect to the Internet and use the Desktop Ledger Manager app to manage the cryptocurrency. The wallet is a central cryptocurrency and you can not go wrong.
Disclaimer: the third-party portfolios mentioned above, although recommended by the VeChain project itself, are not officially related to the project; Therefore, these solutions are technically a more risky way of storing your VET compared to the use of the VeChainThor portfolio. Stay safe, pay attention and do your due diligence regardless of the storage solution you choose.
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The writers and authors of CapitanAltcoin may or may not have a personal interest in any of the projects and activities mentioned. None of the contents on CaptainAltcoin is an investment advice, nor does it replace the advice of a certified financial planner.
The opinions expressed in this article are those of the author and do not necessarily reflect the official policy or position of CaptainAltcoin.com
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