, 2 years ago
As any other software solution each wallet comes with certain advantages. LiteBit wallet is a native service integrated into your personal trading account. Why is it better in some cases to use our service rather than controlling your private keys?
There are a couple of use cases that will greatly improve your overall experience using LiteBit wallet.
LiteBit wallet offers you to send and receive over 50 different cryptocurrencies. We also review and add new cryptocurrencies on a regular basis. Each coin requires its own wallet and has its very own blockchain. Most of these wallets will require to download the whole blockchain to work properly. Let’s take a look at Bitcoin.
At the time of writing the Bitcoin Core client itself requires only very little space, but the blockchain will eat around 318 GB of space on your SSD or hard drive. Now multiply this number by 50 and it is easy to see that you would need a lot more resources. Even though this example is a very rough estimation it would still require a huge amount of disk space to run all clients properly.
With LiteBit wallet you have none of these issues, since we run the software for you on our professional and audited backend.
Even if you have the resources or you are familiar with pruning all those blockchains, there is still a lot of work to do. All those projects update their core clients on a regular basis and one is well advised to review the code and make sure that it runs stable and reliable.
LiteBit wallet saves you a lot of time experimenting and maintaining new software updates. We are only working with certified IT professionals who will make sure that each coin that is integrated with LiteBit wallet runs properly and according to best practice.
Our service is available with only a minimum of downtime for necessary maintenance, so that you can send and receive cryptocurrencies at any time.
LiteBit wallet is also available on all platforms. You can either send and receive cryptocurrencies using our smartphone app or simply login on any desktop computer using a web browser. Please keep in mind that you should always use a trusted computer, preferably your own.
Our wallet service offers you the option to switch seamlessly between devices, while still being able to access the power of over 50 different cryptocurrencies and their respective networks. You enjoy one of the best user experiences available on the market and we make sure that everything works as intended and fully secure at all times.
Feb 01, 2023
Phishing exists in many forms of contact, with the goal of extracting confidential information. This is done via phone, social media, emails, and counterfeit websites. Fraudsters ‘fish’ for information from potential victims by sending emails, sending messages on social media, sending text messages to your cellphone, or calling you claiming some form of urgency. The goal is to gain access to digital or physical property. When you click on a link to a fake website, you are asked to submit your login credentials. When you provide them with your login credentials, the criminals can use these to access your account without you even knowing.
Dec 09, 2022
Unlike in traditional finance, in crypto you can truly own your money. Because whoever controls the cryptographic keys, controls the funds. That's a fundamental property and THE major benefit of crypto. If you don't have your keys, you don't really own your coins. If you deposit your coins on an exchange, you risk them going bankrupt. Instead, if you own the keys, then you are the custodian: we call that self-custody. How can you learn to take self-custody?
May 16, 2022
If you are considering investing in Bitcoin, you undoubtedly have questions about the soundness of the system. And rightly so. You will soon learn that the security and risks depend not only on the technology but also on the user: you. Together, you and Bitcoin are the bank. If Bitcoin is the vault, you are the one who keeps the keys. How secure are you, as a team?
Aug 24, 2021
Bitcoin is absolutely secure. That is a sentence that is perfectly true at the time of writing. But this is not only due to the fact that its technology has been proven in the past but also because of its network and its constant growth in the last couple of years. That being said, one should never take the transaction security of a network for granted. Bitcoin allows every user to check and verify literally everything in its network, including, but not limited to its monetary supply and if a transaction is valid or not.' But there is also the possibility of fraud, meaning that an entity could try and overtake the Bitcoin network. In this article we will discuss how this is theoretically possible and how likely this is to succeed.
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