SimpleHold is a light wallet created by SimpleSwap that is considered to be an efficient way to store and retrieve digital assets. It provides a unique combination of security and usability. What distinguishes SimpleHold from other crypto wallets is its complete decentralized character. Moreover, as a self-custodial wallet, it provides its holders with full privacy and control of their assets.
How Does SimpleHold.io Work?
SimpleHold.io does not require any physical presence. All users have their private keys and can manage their assets from any place with safety. Moreover, it comes with considerable flexibility, which allows users to move to SimpeHold from additional crypto wallets, simply by inserting their private keys. The platform offers its built-in exchange that operates through SimpleSwap and web3 integrations. Moreover, it supports the useful function of price tracking.
SimpleHold wallet provides its customers with flexibility and simplicity in their daily transactions. Here are the steps to connect with SimpleHold wallet:
SimpleHold is compatible with different browsers such as Google Chrome, Mozilla Firefox, Opera, and Brave. For each of them, there is a link on the app’s official page where you can install the corresponding extension depending on the browser of your choice.
The next step is to create your wallet. After installing the extension, users can open the platform’s home page and link the crypto coin. They can choose between a variety of crypto coins that are included in SimpleHold’s list. Eventually, after generating the new address you insert your password and update the backup file.
Users of SimpleHold wallet can easily transfer crypto assets to other parties. They can select the address they want either by copying it or from the shown QR code.
They can easily export their wallet’s private key and import it into an existing relevant section on the SimpleHold platform. After that, they can enter their passwords and update the backup file. Thus, users that consider changing their wallet can opt for SimpleHold due to its plain and fast migration process.
Is SimpleHold.io Safe?
One of the most challenging questions that trouble most investors is if their crypto assets are safe. SimpleHold uses advanced encryption standards (AES) that guarantee the assets’ security. Moreover, users’ private data is encrypted and kept in the local browser and is not stored on a remote server. This way, this platform ensures the robust privacy and safety of holders’ personal data.
SimpleHold wallet is secured through an AES encryption JSON file. Users have access to their private info and data that are stored in the Backup folder which is locked with a password. Moreover, the wallet supports a backup decoder service allowing the holders to check the entries of their files.
To ensure higher security SimpleHold platform implements the use of a passcode. Through this safety extension, the screen of the user is locked. Therefore suspicious activities, trying to get access to any public personal data such as balance, public address, etc, are forbidden.
SimpleHold.io Monetizing Model
SimpleHold wallet can store the majority of crypto coins included on Binance or Ethereum blockchains. An update of the assets is being done weekly, adding new coins to the list. Some of the most popular crypto assets that the wallet can host are listed below:
SimpleHold is a pioneer in the crypto market since it is the first one to provide the chance to use ERC-721 tokens. The wallet’s mobile app offers users access to the NFT gallery where various artworks are stored. An ETH network connection is required to actualize any NFT transfer to the wallet’s gallery.
Last but not least, SimpleHold offers the flexibility of choosing the amount of gas fee during a transaction. Thus, in any exchanges that are made from the holder's wallet to another address, an additional network transaction fee is incurred.
Pros and Cons of using SimpleHold Wallet
The need for efficient wallets is constantly fueled by a growing number of investors that turn to cryptocurrency. SimpleHold is a pioneering platform in the crypto world that offers its holders high-security standards as well as flexibility in their transactions. Its developer’s team is doing its best to offer the public a seamless trading experience in managing and exchanging their crypto assets.
Cryptocurrency trading is a high-risk investment that is not appropriate for all investors. Before you decide to trade cryptocurrencies, think about your financial goals, level of knowledge, and risk tolerance. Furthermore, you should not invest money that you cannot afford to lose because there is a chance you will lose some or all of your initial investment.
You should be aware of all the dangers of cryptocurrency trading and get financial counsel from someone who is not affiliated with any cryptocurrency exchange. This website's opinions, news, research, analysis, pricing, and other information are offered solely for educational purposes and do not represent investment advice.