EOS is a blockchain project that powers the development, hosting, and execution of commercial-scale decentralized applications on its network. This capability is achieved through the creation of an operating system upon which applications can be set up. Since joining the market, we have no official full form for EOS. The EOS platform enables businesses and individuals to create blockchain-based applications like web-based applications. The blockchain project also offers support for interface development. The EOS platform operates just like Google’s Play Store and Apple’s App Store. Generally, the EOS network has two elements, the EOS.IO, and the EOS.
EOS.IO is responsible for managing and controlling the entire EOS network. In simple terms, EOS.IO deploys the blockchain architecture that is set up to enable vertical and horizontal scaling of decentralized applications. The EOS token is the cryptocurrency of the EOS network. Therefore, developers need to own EOS coins to be eligible to use network resources.
How to Own EOS Tokens
EOS is currently the sixth cryptocurrency according to Coinmarketcap data. The asset is trading at $5.80 with a market cap of $5,349,141,444. To own the digital asset, you need to buy it on any supported exchange. You can get the asset on platforms like Kraken, eToro, and Binance. After purchasing your assets, you need to get a compatible wallet to store the coins. Here are the best EOS wallets for 2019 to consider.
The Ledger Nano S
The Ledger Nano S is among the most secure cryptocurrency hardware wallets. This wallet is compatible with EOS alongside other multiple assets like Bitcoin and Ethereum. You can manage your EOS tokens by connecting the wallet to a computer using the USB port. On the computer, you can access the wallet’s interface through a Google Chrome extension. The Nano S features a built-in OLED display and buttons that you need to press manually for verification of transactions. The Nano S comes with PIN capability and it is easy to set up and use. The wallet also has support for the two-factor authentication feature making it one of the most secure wallets around. The Nano S also lets you create backups of your wallet by writing down a 24-word phrase.
The Ledger team also released the Ledger Nano X, which is compatible with both iOS and Android mobile devices through Bluetooth connectivity. The Nano X is an updated version of the Ledger Nano S. The wallet supports more than 1000 cryptos among them EOS.
The Freewallet has excellent security features in place, making it one of the best EOS wallets out there. The wallet also supports other multiple assets and it is compatible with mobile devices for iOS and Android. With Freewallet, all EOS tokens are in an offline vault giving it an extra layer of security. The wallet has a PIN code and the touch ID for enhanced security alongside the two-factor authentication. Additionally, the wallet has a multi-signature feature.
Note that with the Freewallet, we have a transactional limit for a day or a week, customizable by the user to make sure nobody withdraws more than planned. This wallet allows you to get real-time EOS chats, balance in fiat, and optional email confirmation for all transactions. The wallet also allows a user to share their address on various social media platforms like Facebook and Twitter directly. Additionally, the wallet supports different languages, including Chinese, German, French, Spanish, Russian, and more. The Freewallet is among the few that come with an efficient customer support service 24/7.
Infinito EOS Wallet
Infinito Wallet is a multi-asset universal wallet that offers support for EOS, Bitcoin, Bitcoin Cash, Litecoin, Ethereum, Dash, Neo, and Dogecoin. Furthermore, the Infinito EOS wallet enables access to leading smart contract blockchain tokens. The Infinito lets you pay for various services and goods and services directly from the wallet in a convenient manner. Additionally, the wallet enables you to make some money by allowing you to lend your EOS tokens.
From a security perspective, all private keys are fully encrypted and securely stored on your device. This means we have no third party access to your keys. Additionally, we have the password and fingerprint feature. This feature means that you are the only one with access to your funds. One reason why Infinito EOS wallet stands out is the fact that it lets you do a profile check on blockchain addresses. In the process, you avoid interacting with scammers. Lastly, we have the token veri-sign seals that help you identify the authentication token and its smart address among those with similar names. You can download this wallet from the Apple App Store or Google Play.
The Lumi wallet is a new entrant in the cryptocurrency world. This is an open source mobile wallet that lets you buy, store and exchange EOS, BTC, ETH, and ERC20 tokens. This wallet has plans for integration of the voting process and even enabling the users to vote for the block producers. Lumi aims to be fit for both the beginners and experts; hence we have continued development on its code. It is a mobile cum web wallet, which is available on Android and iOS version. This is a hierarchical deterministic wallet meaning that it can be recovered using a 12-word mnemonic phrase. Additionally, no personal information is accessible by the Lumi team. The team values the privacy of user accounts. Note that the wallet is created locally on your device.
This wallet is specifically for the EOS network. The wallet is also fully integrated with features available in the EOS.IO software. This desktop wallet is compatible with Windows, Linux, and Mac platforms. This wallet is backed with transparency and security philosophy. One outstanding feature with the SimplEOS is that you can easily import your EOS Mainnet private keys to claim your EOS Mainnet tokens. You can use your wallet with the same configuration on different devices. This option is set to default, and the backup only works in SimplEOS. The SimpLEOS wallet lets you interact with DAPP’s contracts. This option is in beta and will improve a lot in the coming versions.
Scatter EOS Wallet
This is a desktop application that comes with a Google Chrome browser extension that allows you to interact with the EOS blockchain. Some of the security features in place include the use of Single Sign-On (SSO) through asymmetric encryption. This feature enables you to sign transactions and log into applications without revealing personal details. Additionally, users have to give a hashed fingerprint comprising of numbers and letters to access the wallet. Note that, all private data related to your wallet is locally stored. At the moment, Scatter supports the EOS and Ethereum blockchains. Getting started with the wallet is a straightforward process for both crypto beginners and experienced individuals.
EOS is an asset with eyes on the top five category of cryptocurrencies. Therefore, this makes EOS a digital asset worth investing in. The basis of investing in any cryptocurrency is getting the right and secure wallet. Before settling on any wallet, always conduct some research. The highlighted wallets are among the leading EOS storage platforms.
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