It has been a while now since cryptocurrencies and blockchain have been defined as transformative for finance and many more industries. Still, even after so many years since Bitcoin’s birth, regulation concerning the space remains unclear, and compliance isn’t taken for granted yet
One of the biggest challenges that most cryptocurrency holders face today is handling of private keys. Private keys are bits of data that give users ownership of their coins and enable them to make cryptocurrency payments. If you lose your private keys, or if someone steals it from you, you effectively lose the ownership of your coins without any recourse.
Many cryptocurrency exchanges store private keys on your behalf. This certainly eases the experience by relieving you of the burden of handling private keys yourself. It also enables those exchanges to provide you with instant payments.
Adding liquidity to the landscape with easy-to-use trading tools
Users who want to invest in altcoins must usually juggle between various exchanges, which can become a frustrating and costly experience, especially for beginners and non-technical users. Crypto will be addressing this problem with a “protocol stack,” which is a support for interactions between the different technologies of the cryptocurrency landscape.
For instance, with your Crypto wallet, you will be able to trade between different cryptocurrencies and altcoins as well as second-layer protocols such as the Bitcoin Lightning Network and Ethereum Raiden without the need to have in-depth knowledge of the underlying technologies.