It has become mandatory to use a good crypto wallet that ensures the safety and security of the crypto assets. Several factors affect the decision-making of the crypto wallet selection. Factors such as transaction cost of wallet, compatible crypto assets, and much more. And the selection process becomes more difficult when all the crypto wallets are categorized into two parts. And the said categories are hardware wallets and software wallets. And if you are a beginner then it is even more difficult.
As a crypto financial advisor, we are here to guide you through the journey of selecting the perfect crypto asset for you. We will mainly discuss one of the underrated crypto assets storing wallet called Infinity Wallet. So, sit tight and keep scrolling the page.
What are hardware and software wallets?
Software wallets are more in demand for traders who are looking for a budget-friendly wallet and cannot risk using the hardware wallet without any prior knowledge of managing a crypto wallet. However, certain risks are associated with using software wallets. One of the main concerns is the security of the funds. We know that not all wallets are going to get hacked but as they say, safety is better than cure. Infinity Wallet is a software wallet that is underestimated in terms of security.
Moving to the hardware wallets, they are the best wallets that can secure your digital assets. But they are hardware devices, which means that to the hardware wallets, you will have to pay for the device. So, the traders who do not want to spend money on any of the crypto assets should not go for this wallet.
A summary of Infinity Wallet
The developers started to create this wallet in the year 2018 and finally, it took them 2 years to launch the wallet in year 2020. The objective behind creating this wallet was to provide convenience and the wallet which has simple UI for beginners. But the wallet also has a few advanced features for experienced traders. It is also a non-custodial wallet i.e. the account holders have full and undivided control over the crypto assets that are stored by them in their crypto wallet account. The assets are stored on different blockchain networks such as Binance Smart Chain, Ethereum, etc. Even the accessibility to dApps is also provided to the Infinity Wallet users.
What are the fees of Infinity Wallet?
All the software wallets charge a certain amount for executing the transactions through the wallet. Some wallets charge a little higher amount than the average market rate, and some charge lower than the market rate. This wallet is not included in either of the categories. The transactional cost of this wallet is as per the existing market rates. So, you don’t have to worry about being charged extra money. The trading fee of tokens on this wallet is 0.40%. From this fee, 0.35% is being distributed equally to the liquidity providers who have worked for you executing your transaction on the network.
Final Views!
To get started with the Infinity Wallet there is no compulsory requirement for you to complete the KYC procedure. The platform is completely anonymous securing the identity of the traders. Many traders and investors wish to keep their crypto identity private and this wallet is one of the wallets that helps them to do so. Join this wallet by registering your account on it and enjoy all the premium services that are offered to its users. Visit the official website to gather more details on this underrated software wallet.