There is more talk about investing in cryptocurrencies and the risks of having them and very little about the safeguarding and protection that must be had for said digital assets to remain safe.
Cryptocurrencies work through a decentralized database (Blockchain) that in turn can act as a public repository of transactions. This is complemented by digital wallets, and like any transaction in which the internet mediates, it is not exempt from the risks of fraud and hacking.
How do wallets work?
They are applications on the web or on mobile devices where users store their cryptocurrencies. Some wallets offer only the storage service, while others also operate as an “exchange” allowing the exchange of cryptocurrencies for other currencies including dollars or services in shops.
“The wallet has a role similar to a bank account, in terms of safeguarding and managing the assets that a user manages; where you can “deposit” your coins and have it stored and even generate an increase in value associated with the price and quantity of coins; and use it to purchase goods or services. Hence the importance of not only thinking about buying the currency of your interest (Bitcoin or Ethereum are the most popular), but also selecting a wallet that protects investment and offers value-added services”, explained Jorge Pasapera, founder of Coinpay.cr a Digital Assets platform created in Costa Ricathat has tripled its users and transactions in the last year.
Made in Costa Rica
Coinpay.cr is a platform that allows you to buy, sell and exchange digital assets, use services and products directly from the account on the website, it offers wallets for different cryptocurrencies and multiple additional value-added services for both individuals and companies. It was founded in Costa Rica in March 2016 and offers an ecosystem of blockchain services such as Exchange, Cards, Money Sending, Escrow, Integration with other websites and apps (APIs), OTC, P2P and B2B payments and much more in development thanks to the development team on site.
According to Pasapera, most of the users are Costa Ricans who start with the interest of acquiring a digital asset such as Bitcoin for example and keeping it in a wallet in a safe and reliable site. “Costa Rica is the place where most of our users come from, but we also have from different places such as Central and South America among other regions,” said Pasapera.
Once in the wallet, users can use the cryptocurrencies to pay for services at affiliated businesses. Currently from Coinpay.cr users can pay public services such as water, electricity, also purchase cards for purchases on the internet, there are more than 1,000 integrated providers and work is hard to expand diversity.
