Launched in Mar 2014, Groestlcoin (GRS) is an ASIC-resistant peer-to-peer (p2p) cryptocurrency that claims to offer very low fees. GRS was reportedly one of the first few coins to implement Segregated Witness (SegWit) and perform a Lightning Network transaction on its network. GRS utilizes two rounds of Grøstl-512 for its mining algorithm, and rose to prominence during the Bitcoin fork in late 2017 as CPU/GPU miners sought to move away from coins dominated by ASIC miners.
Best 4 Wallet For Storing Groestlcoin
1. Hardware Wallets
They represent the so-called cold wallets, meaning they operate offline – unless a payment needs to be made. Hardware wallets store your private keys on a storage medium, and usually connect to a computer via USB to make a payment transaction, after entering a pin. Easy to use with a high level of security. The best MOAC hardware wallets are Trezor One, Ledger Nano S.
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2. Paper Wallet
An RDD paper wallet is considered an extremely secure way to keep ReddCoins safe from cyber-attacks, malware, etc. A paper wallet involves “printing” and storing RDD in an offline mode. The data appearing on the wallet includes things like the public key (wallet address), that allows people to transfer money into the wallet, and the private key, which gives access to the fund expenditure. Hence, it is important for the users to know how to use ReddCoin wallet in this medium.
3. Desktop Wallets
You can download and install these on your computer. They will only work and be accessible on this single computer. They are among the most secure wallets, unless your computer gets hacked or attacked by a virus. The best desktop MOAC wallets are Ledger Nano S, MetaMask, Blockchain wallet.
4. Mobile Wallets
These don’t offer as much functionality compared to desktop wallets, however their convenience lies in the fact that you always have the wallet with you and can use it anywhere, e.g. to pay at a retail store. The best mobile MOAC wallets are Enjin Wallet, Blockchain wallet, MyEtherWallet.
Tips for securely storing your Mainframe
- Do your own research. Before sending any coins or private data to a wallet, make sure you have researched the wallet provider to make sure everything is above board. Keep an eye out for scam wallets, such as those using URLs only slightly different to the URLs of legitimate wallet providers, and check out some independent reviews for all the pros and cons.
- Back it up. Make use of your wallet’s back-up and restore facility so that if something ever goes wrong with your wallet, you’ll be able to recover your funds.
- Set a strong password. Now is not the time to be lazy when creating a password; take your time to create a strong and uncrackable code.
- Make use of all available security features. Make the most of all the security features your wallet offers, such as two-factor authentication or multi-signature transactions. It’ll offer increased protection for your funds and greater peace of mind for you.
- Update your antivirus software. Take care to regularly update the antivirus protection and anti-malware software on any device you will be using to access your wallet.
- Keep your private keys private. Last but not least, don’t underestimate the importance of your private keys. Store them somewhere safe and don’t share them with anyone else.