Boolwallet – Having Fun While Keeping your Cryptocurrency Safe

Project Reviews / 10.01.2020

Cryptographic wallets are built on the principle of Asymmetric Cryptography. In simple words, Asymmetric Cryptography or Public/Private Key Cryptography is the backbone of the modern information society. They comprise of two uniquely related cryptographic keys (long random numbers) where the key pair is mathematically related. Whatever is encrypted with a Public Key may only be decrypted by its corresponding Private Key and vice versa. Public Key Cryptography can therefore achieve Confidentiality.

With Public keys and Private keys, one can store assets, have them linked to a wallet and spend later. The entire area of Distributed technologies starting with Bitcoin , used this principle to effectively engage in digital transfer.

Complexity of Wallets

However, there lies a great amount of problems with most cryptocurrency wallets in the market today.

Although it is considered better to store cryptocurrencies on a personal wallet, most investors and traders do not follow this advice, and choose to store the funds with a custodian such as an exchange or service provider.. Custodians are entities that are trusted to hold funds for other people. Most people do not use wallets because they find them to be very complex. Complexity is a huge barrier for mass adoption because the average investor does not want anything that takes too much time and energy, unless he is curious.

Picking the right crypto wallet is the difference between an easy cryptocurrency experience and a bad one. There is a gap in the market for Wallets that can be easily filled up by wallets that are extremely user-friendly and simple to use.

The Boolwallet – For the Everyday Investor

The Boolwallet is a really easy and secure cryptocurrency wallet app, aimed at the everyday investor. A user-focused project that aims to fast track the road to mass adoption by increasing the user experience and decreasing the general complexity. It allows instant direct cryptocurrency payments and exchanges between different cryptocurrencies — from Ethereum to Tron, to Bitcoin. One of the reasons for Boolwallet’s popularity can be attributed to its multi-currency account feature.

Boolwallet is a one-stop shop to the crypto world, created to simplify crypto specifics and make accessing coins much easier. The Boolwallet includes dedicated wallets for 10+ popular cryptocurrencies available on the Android and iOS platforms.

At Boolwallet, the team behind it ensures to apply extreme security measures to keep your funds safe. Moreover, they are constantly implementing additional and improved security features to eliminate any chance of unauthorized access to your cryptocurrency wallet. This, along with the user-friendly UI, combines to form a world-class user-adoption focused cryptocurrency Wallet.

Let us now look at what makes the Boolwallet so lucrative to its users

How Does Boolwallet Stand Out

User-Friendly UI

The main driver of adoption, Boolwallet’s User Experience can be considered one of the best in the game. The app is designed so that any average smart phone user can just download the app, store the passphrase and navigate through it with ease. Making the application fun and aesthetically pleasing has helped the Bool team to increase the rate of new users coming in.

Multi-Crypto Support

A multi-currency wallet or universal cryptocurrency wallet is one that supports more than one cryptocurrency. It is beneficial because you don’t need to have more wallets to keep your cryptocurrencies on. Users who do not want to download an app for every other crypto they own will find much solace in Boolwallet’s multi-crypto support.

Wallet Choice – Cloud or Local

In order to keep all your crypto belongings safe, Bool gives you the choice over the ownership. A user could take over his own keys, or he can import or export them from or to other wallets. The client can even choose to have Bool store the keys on a cloud server, by providing the mobile number. Users are given the choice between Cloud Storage and Local Storage. This choice increases the simplicity by trusting the Boolwallet to store keys for them. Boolwallet promises to employ a multi-layer security encryption mechanism that ensure the safety of the coins stored.

Dapp Support

By creating an open and high-quality Dapp ecosystem, Bool can provide the latest and most popular Dapp games; introduce multi-chain applications, to take you into an unprecedented distributed world. As Dapps are considered the next step to the crypto experience, Bool stages its users to equip themselves for the coming revolution.

Get your first cryptocurrency in Boolwallet

Another big problem for new users of crypto wallet is where to get their first cryptocurrency. The most common and accepted way is to buy cryptocurrency at exchange. However, which exchange, or website shall I choose, what kind of payment method is safer, the uncertainty makes it hard for a new user to overcome. How can I experience the wallet with cryptocurrencies without take any risk?

In Boolwallet you will find the answer, the Bool Team is preparing promotion activities and Dapp games for new users to obtain their first cryptocurrency. All you need is just to invite your friends and share the activities, or spend some time in the wallet, you will get some cryptocurrencies.

 

The Lucky Draw

Lucky Draw is an innovative marketing mechanism devised by the Bool Team to help increase the rate of user adoption. After downloading the app and registering the wallet, users can enjoy the Lucky Draw feature and win Cryptocurrencies. Users can take up the draw every 24 hours and enjoy the cryptocurrencies that could be won.

Resources:

BoolWallet | Twitter | Telegram | iOS App | Android App

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Sudarshan M is a long time crypto-enthusiast. Pulled in by bitcoin early on, it did not take long for Sudarshan to divert all of his academic attention from business studies to blockchain by doing his Masters and eventually pursuing his PhD in the subject.