WLX is an online wallet for your fiat and cryptocurrencies. In fact, it’s a free Bitcoin wallet that focuses on security. All your funds, as well as your personal data, will be stored safely with WLX!
Therefore, if you are interested in a wallet Bitcoin and many other currencies can be stored in, make sure to check out WLX.
If you want to find out more about the way the wallet works and the benefits of using WLX, make sure to read this article carefully.
What Is Bitcoin?
When you enter this question in the Google search bar, you’re instantly directed to the site about BTC, which describes it as P2P money. Other names are a cryptocurrency, a digital currency, digital money, and more.
All these definitions are true. However, instead of explaining what Bitcoin actually is, it’s more important to explain the way it works and its benefits when compared to other types of money.
To explain the benefits, we must draw a parallel with what’s been in use for centuries — fiat money. When you use fiat money for transfers, you must use a middleman. This is usually a bank that needs to overview and approve your request. In that process, you’re charged a fee. Moreover, you need to wait until the bank officially approves your request, and that can take days.
Bitcoin, as well as many other cryptocurrencies, don’t use intermediaries when you make transactions. Once you create a Bitcoin wallet account — everything becomes pretty straightforward. No centralized organization would stand between the person that sends and the person that receives money, using nothing but their BTC wallets. You’ll be able to transact directly — peer-to-peer.
This is achieved by using decentralized technology.
In centralized systems, banks (or other central authorities) are at the heart of everything. All transactions and operations are controlled and overlooked by them. In many cases, it means that a single person or a group of people at the top of the hierarchy make decisions for everyone.
In decentralized systems, such as the one used for Bitcoin, there’s no single decision-maker. Bitcoin is stored on a shared public ledger. Therefore, all transactions take place within the blockchain network and are direct. The technology itself is based on cryptography as a way to verify network nodes.
So – no banks, low fees, and quick transactions. That’s the essence of Bitcoin. But in order to start using it, you need to have something to store it in. Something like a wallet. A special online Bitcoin wallet. What are cryptocurrency wallets exactly?
What Is The Best Bitcoin Wallet?
Using traditional wallets is always a great analogy to explain cryptocurrency wallets.
You store your paper money in a leather wallet, right? Well, everything is the same with Bitcoin. You get to store your cryptocurrencies in a virtual wallet.
To use one, you need to download and install a wallet app, open an account, and load it with BTC.
The technology behind BTC makes this currency anonymous to a certain extent, so you also want to aim for an anonymous Bitcoin wallet. This means that all your transaction details cannot be accessed by anyone else except you.
Every best BTC wallet, including WLX, works in the same way. So let’s take a closer look at what you should pay attention to when using one for your Bitcoin.
How a BTC Wallet Works
Once you open an account, you’ll get a unique wallet address. But it looks like it makes no sense. The addresses are mostly just a random string of characters and numbers. And you should remember it, as that’s something you need to send to people who want to make a payment to your wallet.
Sending money to other people is as simple as receiving it. They will give you their address that you’re required to enter before sending money.
How to Create a Bitcoin Wallet with WLX?
Apart from being the best online Bitcoin wallet, WLX is also one of the most convenient options, especially for new users. If you’re not sure how to start using it, we will provide a short guide on how to create an account and store your first BTC.
Download the App
Download this Bitcoin wallet app on your device and install it. The process is identical to all other installations that take place on various OS. You’ll have to go through a couple of steps to set up your app and start using it.
Open an Account Using Your Number
WLX is by no accident the safest Bitcoin wallet out there. The safety measures are maintained in several ways. First of all, you need to enter your phone number.
As soon as you do that, you’ll receive a 4-digit verification code via SMS that you will have to input to create your account.
Create a Passcode
Creating a passcode is essential whenever you create an anonymous Bitcoin wallet account. It will help you secure your funds and ensure that nobody else can access it but you. The passcode is just like a PIN code. You should memorize it and not tell anyone else. Once you type it in, you’ll have to confirm the process.
Add Touch ID and Face ID — Optional
Many people think that a simple code won’t suffice, that’s why WLX gives you an option to create a Touch ID and even a Face ID.
These two features allow your device to recognize your fingerprint (Touch ID) or your face (Face ID), using sophisticated recognition technology. By turning these options on, you will create Bitcoin wallet accounts that are both safe and secure.
Enter Personal Details and Residential Address
The final step of registration will require your personal details and residential address. Once this step is completed, you will have an opportunity to use WLX as your Bitcoin wallet. These are required since WLX also supports fiat transactions.
Overall, the registration process is simple and takes only a couple of minutes before you can use this free Bitcoin wallet.
WLX Is an Anonymous Bitcoin Wallet
Bitcoin relies on blockchain, so you don’t have to provide any of your personal information to make a transaction. The only thing you are required to reveal is your wallet address, which doesn’t disclose any information about you.
The same principle is followed when sending money. Someone can just give you a BTC wallet address, and you will be able to send them money right away. There are no intermediaries that will check your transactions or steal your personal info.
Looking for the Safest Bitcoin Wallet? Look No More!
The most important thing, after all, is the safety and security of your funds. If a wallet cannot guarantee that to you — it’s not worth your time. WLX is one of the safest Bitcoin wallet options out there.
By using state-of-the-art technology, WLX ensured that all Bitcoin transactions are protected from various cyberattacks. In fact, there are several security features that make WLX stand out from the crowd.
- Internal risk monitoring mechanism – as the name suggests, the risk is continuously monitored in order to prevent any kind of issue to arise;
- Frequent audits – internal and external audits happen regularly and make sure that everything is in order regarding operations;
- Data encryption – data stored by the wallet, including data about transactions, is safely encrypted and cannot be a target of cyberattackers;
- Security testing – the security of every best Bitcoin wallet is regularly tested, including this one;
- Penetration testing – a simulation of cyberattacks to get a notion of whether there are loopholes in the security and how to fix them.
Adding these features, we have made sure that all Bitcoins stored in the WLX wallet are safe and sound, as well as tucked away from cybercriminals, or malicious actors. Therefore, by choosing WLX, you’re getting a free Bitcoin wallet with enhanced security levels.
WLX Is Not Only the BTCWallet — It Also Accepts Other Cryptos!
The good news is that WLX is not only a free Bitcoin wallet. At the moment, you can store several other popular cryptocurrencies, as well as a couple of fiat ones.
Apart from BTC, WLX offers a safe way to store Ether, as well as Litecoin. Even XRP owners can store their coins for free by using this great piece of software.
As for fiat money, the wallet supports the “big three” — Euro, Pound, and US Dollar. Therefore, you can consider WLX an ultimate online wallet that will help you store and exchange your funds. It will make online payments a convenient and pleasurable experience.
Feel free to explore the app once you download it in order to understand its full potential. In the end, it’s up to you to decide whether you’ll use this app as a Bitcoin wallet online or store other kinds of money.
Finally, if you want to use other cryptocurrencies, you should definitely visit the exchange section of the wallet and make quick and convenient conversions.