MyCrypto Desktop Application and Hardware Wallet Support Launches
One of the main things that need to be tackled for solving the mass adoption problem is making it more convenient for users to manage their virtual currencies safely. So as to make a positive impact on the matter, MyCrypto decided to update its platform.
MyCrypto New Features
It is very important to have control over one’s virtual currencies and portfolio. But it may be a difficult and complicated situation for some novice users. Some people struggle with the the fact that they need to be responsible for their assets in the long run. This is why there are some users that leave their virtual currencies in exchanges. This is the easiest solution, but it may be the most dangerous one.
MyCrypto is trying to change this situation by introducing a desktop application that makes it very easy for individuals to manage and use virtual currencies. Until now, it was possible to access to such a hardware wallet using a native browser extension or online platforms like MyEtherWallet.
At the moment, users are able to access ledger and Trezor using their native desktop application. And this is very promising for the future because users do not need to access online services and protocols. The service and application is compliant with the latest standards in security and has been audited by the firm Cure53. Users can be sure that their funds are going to be safe at all times.
The application has an effect on MyCrypto.com website as well. The website will not be able to support anymore the use of private keys, mnemonics or keystores. This decision has been taken due to the fact that MyCrypto team wants to ensure safety and security for all of its users at all times.
Of course, this is a very interesting decision that has been taken by the company. It helps users be aware of how they can use advanced and secure solutions to store virtual currencies. But the company believes that the decision may cause some friction because users do not want to use different applications for different purposes.
Cryptocurrencies have been expanding, but the infrastructure in the market needs to do that as well. With this decision of making security more convenient for crypto holders and speculators, it will be beneficial in the long run. Relying less on centralized online solutions it will be possible to create a more decentralized cryptocurrency ecosystem for everyone.