Introducing GES Wallet

GES Wallet, the GES Group e-wallet, is highly appreciated thanks to its fast transaction speeds, bypassing intermediaries and having multi-layer security technology.

The rapid development of cryptocurrencies over the past few years has boosted the demand for related hosting services. Unlike cash for everyday use, cryptocurrencies do not exist in physical form, they cannot be held. Therefore, the wallet for cryptocurrencies is an electronic wallet.

Currently, there are countless e-wallet services on the market, but their features are not exactly the same. Some wallets are designed to use a single currency, while others are able to manage, send and receive multiple cryptocurrencies.

Basically, e-wallets are similar to bank accounts, wallet addresses are account numbers, blockchain is like a ledger.

The principle of operation of an electronic wallet

E-wallets allow users to view balances and make cryptocurrency transactions. The wallet address is a alphanumeric string, varies by service provider, blockchain platform and can be shared publicly.

Ethereum wallets like GES Wallet always start with “0x”, different from Bitcoin wallet addresses or other cryptocurrencies. In addition to storing and trading, Ethereum wallets can also be used to create and activate smart contracts.

To log in to the e-wallet, users need a Private Key that matches the public address. Due to the importance of the private key, users are advised not to share it with anyone.

Hot wallets and cold wallets

Hot wallets or online web wallets like GES Wallet, Coinbase, Blockchain, MyEtherWallet … are the most popular wallets today due to the simple registration process and completely free. This type of wallet is divided into two types: web wallet and exchange wallet.

Web wallets work on websites or applications dedicated to storing cryptocurrency. And wallet exchanges often integrate on prestigious international exchanges such as Gexchang.io to facilitate trading. However, most users only store cryptocurrencies for a short time and then withdraw them to a private wallet more safely.

E-wallets are similar to bank accounts.

Meanwhile, cold or hard wallets like Ledger Nano S, Trezor, KeepKey … are superior in reliability. The advantage of cold wallets is that they do not require an Internet connection, so hackers cannot interfere in the transaction. Some hardware wallets also feature other security features such as PIN, 2FA, allowing backup and recovery of wallets when something goes wrong.

About GES Wallet

GES Wallet is now considered by experts to be one of the most trusted electronic wallets in the world thanks to its high security thanks to its fast transaction speed, bypassing intermediaries to save costs. At the same time, GES Wallet is also safer thanks to multi-layer security technology on the blockchain platform.

According to GES Group, users can go to GES Wallet via GESWallet.io or install the application on Android / iOS to view the balance and trade GES Token, a cryptocurrency developed on the Ethereum blockchain up to ERC-20 standard.

“You can feel secure knowing your digital money is safe with GES Wallet. We give you control, hoard money and protect them from unauthorized access said GES Group. “With GES Wallet, you are the supervisor and controller. No one can touch your wallet but you”.