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Why Decentralized wallet is the best wallet


josemendez
(@josemendez)
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Joined: 3 weeks ago
Posts: 40
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Cryptocurrency was created to offer a decentralized medium of exchange to people. As the adoption of cryptocurrency increases , there were needs for people to have personal wallets to store their funds. 

Some companies decided to venture into cryptocurrency and  thus they created centralized exchange site where users can store their funds. The issue here is that the wallet these exchanges offer is Centralized . One do not have full access to the wallet and his fund and thus the decentralized purpose of cryptocurrency is now denied. 

All thanks to decentralized wallets like Trustwallet , Metamask wallet and Myether wallet.  The benefit with this type of wallet is that one has full control over the wallet and can be able to control what happens to it's fund. The person is offer a private key which is used to protect the wallet. The wallet cannot be accessed by anyone except with the private key .this makes it more secured , compared to centralized wallets which when the exchange is hacked exposes the users fund to hack .

Secondly , buying in decentralized wallet is more secured as one have to interact with decentralized exchange , thereby interacting directly with the blockchain. 

Which wallet do you use to store your funds and do you agree with me that decentralized wallets are the best ?


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