How Decentralized Masternodes and Cold Staking Makes Flits the Best DeFi Wallet

Handy Tips / 26.06.2020

Flits Wallet is the first mobile wallet with Decentralized Masternodes and Cold Staking that brings DeFi functionalities and mobile computing to make decentralized finance easier for everyone. 

In the traditional financial system, a special institution carries powers to safeguard and manage customers’ funds and assets. On the other hand, crypto DeFi wallets that are completely decentralized allow users to be custodians of their funds and assets. 

Characteristics of Good DeFi Wallets

  • Non-Custodial – The user has complete control over their accounts and funds. Unlike centralized/custodial wallets, users are responsible for keeping their wallet’s private key—no third party involved in any action. Only users can access their funds. 
  • Accessibility – A Non-custodial wallet is available and accessible virtually all over the world regardless of the user’s geographical location.
  • Compatibility – All DeFi wallets are accessible through a web3 wallet – a program that enables users to access web 3.0, i.e., helps you send or receive funds, interact with smart contracts, and integrate other applications.

Here’s Why Flits is the Best DeFi Wallet

Supports Masternodes

Masternodes investments are growing at a high rate. Although the ROI might be smaller than the actual buying and selling of coins, investing in masternodes is one of the sure-proof ways to make a profit in crypto trading.  

A Masternode is a blockchain full node that hosts the whole copy of the coin’s ledger in real-time. Masternodes get crypto coins as a reward for supporting the network. This suggests that you have to host a masternode for you to make a profit.

The process of hosting a masternode is complicated and calls for knowledge in applications and computer networking. 

Thanks to advancements in blockchain technology, however, the process of running a masternode is now easy and straightforward. It even becomes easier when done on mobile in just a few taps. This is what sets Flits wallet apart from other wallets.

See the steps below to run a masternode on Flits wallet:

  1. Deposit BTC and buy the number of coins required for a masternode of your favorite masternode coin (if you don’t have the coins already),
  2. Start a masternode (full or shares) by deploying it in just a few taps. 
  3. Automatically sell your reward in the Flits App marketplace.

Making it this simple is a big forward step for Decentralized Finance (DeFi) and gives the following benefits:

Saves on time – As seen above, running a masternode in Flits wallet takes a few clicks. The app removes all the complications to make this easy, regardless of the user’s expertise level.

Invest with lessDon’t have enough funds? With Flits App, you don’t have to own a full masternode, and you can invest in masternode shares. Besides, you can get cold stake your coins to earn rewards, which you can sell later.

High ROI – Flits app offers a wide range of masternodes to invest in with over 120% ROI.

Cold Staking

You may not be prepared to invest in the time-consuming buy/sell crypto process, or perhaps you don’t have enough money to run masternodes. Luckily, the Flits app has got you covered with another option – Cold Staking.

Simply put, cold staking involves locking cryptocurrencies to receive rewards for supporting the network. 

While Flits Wallet may not allow cold staking for all the supported coins, there are still plenty of options to choose from. Cold staking is simple: the more you deposit and hold in your wallet, the higher the chances and rewards you get. Flits rewards are given out four times every 24 hours. What’s more, they only charge between $1.13 to $1.99 per month.

The fact that cold staking works on Flits application isn’t something to be taken lightly in these streets. It is a wake-up call and a reminder to the investors that Flits is trying to make DeFi easier and accessible to anyone. 

The Wallet is Decentralized

Perhaps this distinguishing feature between Flits and thousands of wallet apps is available in Google Play and Apple App Store. This is what decentralization means for you:

  • You control your Wallet – Unlike other platforms, decentralized wallets do not involve intermediaries; hence no one has access to your funds besides you.
  • Security – Decentralized applications are more secure since they don’t involve any third party.
  • Faster payments – Decentralized applications use a P2P model for transactions, which makes the process faster.

Final Take

Investing in cryptocurrency is attracting more and more people with advancements in DeFi. Though this is one of the fastest ways to earn from cryptocurrencies, it can be tough for those who don’t have the technical know-how. Luckily, there is an easier way to do this.

Flits App is a one-stop mobile DeFi application that is transforming the crypto space. The app provides an easy and most convenient way to invest in masternodes as well as cold staking. The best part is that all these are provided in a decentralized ecosystem to ensure all transactions are private, safe, and fast.

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Wayne is a Blockchain enthusiast and expert in crypto trading. Currently, he covers trendy issues on digital currencies.