Bitcoin Global News (BGN)
July 19, 2018 -- ADVFN Crypto NewsWire -- Is it possible for a
Cryptocurrency user to hold all of his or her coins and tokens in
one wallet? As of now, the answer just might be yes.
Ethos has launched what it calls
its “universal” wallet.
Apparently, they’ve pre-registered
over 135,000 users just before the launch and their live app now
works on iPhones as well as Android phones.
As of its launch, the company has
branded its main product as the Crypto wallet to use to store and
move all Crypto assets, without an issue.
The problem is, it actually does
not currently support all Crypto assets as the Ethos press release
claims.
First off, on its main website, it brands
every supported project as a token, which is not exactly correct in
the case of Bitcoin as well as Ethereum and others. Secondly, in
terms of the Smart Wallet, which appears to
be the product in question, only around 100 coins and tokens are
supported.
Thirdly, where the Watchfolio is
concerned, about another 100 are supported as well.
According to the Ethos Trello Board, however, this is merely a
portfolio tracker that can be linked with other sites and probably,
other wallets and services.
Going back to the press release, it
is also misleading that Ethos makes it seem like users can
seamlessly connect the wallet to the Watchfolio and track as
well as store the same exact assets.
Given that the Watchfolio and the
wallet support different assets, this does seem to be
possible.
Despite this, the wallet does
appear to be just as secure as most of its competitors, at least on
a basic level, given that it uses a smart key, which essentially
looks to be the same as a private key.
Since the entire platform will
include the capability for rating each Crypto asset and possibly
providing user generated descriptions of their experiences with
them, it will be interesting to see if meaningful data is generated
or if the ratings simply become a way for users to consistently
vent their frustrations with their investments.
If the opposite is true and users
do endeavor to provide helpful data, then this act could push the
space forward to wider adoption in that Ethos, judging by its
website, already seems to be about providing an easy-to-navigate,
user experience.
All in all, any press release that
is sponsored by a company should be taken with caution. In the case
of Ethos, the best way to find out is to read the Apple or Google
Play store reviews, as well as outside reviews of the product,
before downloading it.
If any problems do arise, it does
bode well that the app appears to have a customer service team that
works around the clock.
By: BGN Editorial Staff
News:
Ethos
(ETHOS)
Ethos Universal
Wallet
Cryptocurrencies