thecryptohouse1 (53) in #blockchain • 6 years ago
We all know about the item called wallet, and we’re probably using it as well. Over the years, its usage gained more aspects besides holding our money: Storing other valuables, a suitable place for ID and license or a special case to hold a picture of our beloved ones.
But over the past few years, we are beholding a new concept that gains momentum: The digital wallet.
The basic concept is still there - Storing money. But the other features are what makes this wallet so unique. When the classic wallet had made its pass into the digital arena, it gained the option to transfer, withdraw and deposit assets without any physical limitations. If your friend that lives in Hawaii requests a loan, you can send him the requested sum with ease at the matter of seconds - Even if you’re on the other side of the globe, without the obligation of going to a bank and pass some annoying bureaucracy and waste precious time.
The benefits of digital wallets come from the most advanced data storing technology they run on: Blockchain, by using it, a digital wallet can keep money using the best security measures, without the worry of its data being hacked, as well as having the option to use it anonymously.
Digital Wallet Vs Banks
But let’s go deeper. Most people also have bank accounts, which serve as a modern way of storing currencies. The digital wallet strikes here once again by having a minimal amount of fees (And we all know that the banks take money for any action that you do/avoid in your account, basically), no need of authentication while doing a money transfer, but the main focus is definitely having a complete control of your money - In centralized exchange wallets, for example, you don't have access to your private key (The exchange handles it for you), therefore this point only counts for Wallets which allow you to own your private key (and don't store them for you).
That way, there’s no need to worry from the bank going bankrupt, a financial crisis, a robbery or anything that comes to mind - The digital wallet will keep your money closer than ever. As a matter of fact, the only known cases of theft from digital wallets was the result of human error. With a technical success rate that easily surpasses any human controlled options, you can’t really argue that a digital wallet is the way to go.
Where Else Can Digital Wallet Shine?
The digital wallet benefits aren’t only passive (Meant for storing money), but also take form in active roles such as paying, investing and of course, gambling.
Let’s face it: Most of us gamble, and all of us who do want to have a safe way of keeping our money - Either by making deposits or in order to save our winnings.
Unfortunately, gambling manages to pull in negative sources that aim to make money out of others. Due to those circ*mstances, the data security in every casino or site that respect themselves must be held in high regards. As history can tell, many people have fallen victims to various scams, hacks and exploits that made them lose billions of dollars (at least) through the years. A recent case from April features a casino’s database that got hacked and stolen through the casino lobby’s fish tank thermometer - And it’s not hard to imagine the damage done by that case alone.
Betting will always be a part of our society, so stopping it can’t be a line of thought. The best plausible idea is strengthening the security to the maximum - A task that can be achieved using a digital wallet - And not just a regular digital wallet, but one that is tailored for online bettors.
A solution like that already exists as the form of Bethereum’s first crypto-betting custom wallet, which offers many unique features, especially fitted to its players needs:
- The only wallet that’s specifically designed for betting platforms
- Fully compliant with the ERC-20 and ERC-223 standards
- Fully compatible with other Ethereum wallets
- Future mobile wallet for iOS, Android, PC and Mac
- Future interlink with third-party exchanges
A technology that will make sure that your money will be kept only by the hands of those who deserve it isn’t a thing out of a Jull Vern noble, it’s the reality, today. If you want to bet without having to worry about any form of hacking, you can always go Bethereum.
