TREZOR Hardware Wallet Supports Stellar (XLM) In Future Update
In every positive situation, there exists a portion of individuals whose sole intention is to commit malice and heinous acts. Such is the situation in the cryptocurrency cloud mining sector, which is currently booming due to ever increasing frenzy towards digital currencies. Besides the constantly fluctuating values of virtual coins, investors now have to worry about the safety of their investments. To safeguard their money from hackers and cybercriminals, traders can choose among online exchanges, mobile digital wallets and hardware wallets. Out of the three, hardware wallets are the most secure. TREZOR is highly regarded firm that sells hardware wallets.
The TREZOR hardware wallet takes after older generation computer modems. It connects to a PC via the USB port. Using the device, users can carry out virtually all crypto transactions, including soaring, sending, and receiving virtual coins. For a long period now, the wallet has supported major cryptocurrencies such as Bitcoin, Ethereum (and all ERC20 tokens), Litecoin and Dash. The latest entrant to this impressive list is Stellar, an open-source, decentralized payment platform.
Stellar is a revolutionary system that aims to make payments seamless by connecting people, platforms, and banks. The platform allows its members to easily transact in multiple currencies and assets at the speed of light. Furthermore, the operations are reliable and affordable. The principal medium for exchange within this ecosystem is a crypto-asset christened Lumens (XLM).
The partnership between Stellar and TREZOR is a match made in heaven, as it perfectly blends the multi-faceted capabilities of the former with the impregnable security features of the latter. Thanks to the 2-factor authentication feature, it is almost an impossible task for third- party to access a TREZOR wallet. This guarantees the safety of funds transacted via the Stellar payment system since unauthorized individuals are kept off completely.
The compatibility of TREZOR with multiple virtual currencies is also a plus, since it makes payments done via Stellar easier and more convenient. Instead of relying on exchanges to convert the digital coins, one can exchange them using the mining hardware wallet.
All in all, the collaboration between these two amazing technologies could not have come at a better time. With crypto transactions increasing exponentially by the day, it was about time a secure, reliable and cost-effective system came up to reassure investors. Hence, if an investor’s values the security of their assets, investing in this impressive combo is a no-brainer!