My Encounter of XinFin XDC Wallet
By: Mron Wayne
Tags: Cryptocurrency, Wallet, Xdc, Blockchain, Xinfin

A new report from Mastercard confirms the power of mobile technology to improve financial inclusion. The research shows that 15 countries account for over 60% of the global unbanked population, where 607 million people have a mobile phone but do not yet have a bank account. Mobile technology could, therefore, provide them with immediate access to the benefits of financial inclusion. Moreover, with the extensive applications of Blockchain in almost all domains such as insurance and supply chain, tokenization became a vital part of the larger population.

However, adapting to the use of cryptocurrencies is not as big a challenge as actually using them and hence the concept of cryptocurrencies introduced the need for another concept, cryptocurrency wallets.

A cryptocurrency wallet is as far from your “pocket” wallet as it can be. It does not store any real cryptocurrency but stores the record of various cryptocurrencies owned by you. It is basically a software program that stores your private and public keys which it then uses to identify the various cryptocurrencies that belong to you by interacting with the Blockchain network. In simpler terms, it just stores information about the cryptocurrencies you own that exist on a particular Blockchain network.

The basic functionalities of a cryptocurrency wallet include sending, receiving, and monitoring the value of the digital currencies that belong to a user. When a user “Alice”, wants to send some coins to a user “Bob”, there will be no actual exchange of coins between them. Here, Alice will just transfer the ownership of the coins she owns to Bob. This transfer of ownership takes place by assigning the public key of Bob’s wallet to the coins. If Bob wants to use those coins in any way, the private key of his wallet must match the public key assigned to the digital currency.

But just like any other trending software, the Cryptocurrency domain has had an outflow of digital wallets. As soon as their need became noticeable, most businesses started developing their own wallets. It gave me my share of a hard time when I was trying to find a decent wallet with all the necessary features. After a lot of market research and time spent in testing different wallets thoroughly, I was lucky enough to come across XinFin Android Wallet.

Download Link : https://play.google.com/store/apps/details?id=com.xdcwallet

The XinFin team kept the need of individuals in mind while developing this amazing cryptocurrency wallet which is why this wallet is ideal for both individuals as well as companies. XinFin is a complete blockchain platform that combines the functionality of both public and private blockchain networks. It presents an enterprise-grade hybrid blockchain platform. Considering the awesome functionality of the XinFin network, a Cryptocurrency wallet linked to this network is just a blessing.

A remarkable thing to consider here is that XinFin provides an excellent feature for developing your own coins in the easiest manner and all you need to manage those coins is a wallet. Well, they provide that too. Kudos to the XinFin team for their efforts because this wallet is as easy to use as creating your own currency on this network.

Apart from being considerably secure, the XDC wallet is also open-source and multi-platform. The role of the XDC network is to provide peer synchronization and network interfacing features to the wallet. Another thing that stunned me was that the XinFin wallet supports XinFin XDC, XDCt (Apothem Testnet), XDCe (ERC20), Ethereum, USDT Tether, USDC Circle. Considering ether is the most widely used cryptocurrency, you can link your ethers in this wallet and start using them in no time. It gives you two options to send and receive your digital coins, either by entering an address or by scanning a QR code.

When I first came across this wallet, I accessed the web wallet here. The website is built to engage the clients and there were two options, one to create a new wallet and one to access an existing wallet. I clicked on the “Create a New Wallet” and it took me to another screen. In the beginning, there were several instructions explaining the wallet and its feature along with some obvious queries like “what if I lose my password” the answer to which was I am never getting it back. Some people may think this is not safe but on the contrary, think of it as there is no way in hell that anyone can even try to retrieve your password. Obviously, you have to make sure never to forget it. After the introduction part was over, it was just some basic steps and I was able to create a secure multi-platform wallet just like that. Next, I downloaded the app on my phone and accessed my wallet there.

A cryptocurrency wallet is one of the most frequently used software for anyone who has incorporated cryptocurrencies in their daily usage. Selecting the right wallet can make a huge difference in your digital currency activities. XinFin wallet is one of the best options for this purpose. It not only provides security and optimum performance but also turns the mundane process of dealing with your coins into an interactive experience. Moreover, the availability of the mobile app along with an excellent web wallet, you can send, receive, and monitor your coins anywhere and at any time.