How block chain secures your online transactions?
“The advance of technology is based on making it fit in-
so that you don’t really even notice it, so it’s part of everyday life”
– Bill Gates
Our world witnessed a drastic change in technology. New experiments and renovations yield a revolutionary change in our life and day to day activities.
Even we cant imagine a day without these technologies ,that much we occupied with it. We are living in a digital era , and in progress or up to date with new latest technologies.
day to day transactions got digitized and most of the people began to use online transfer method instead of direct payment. Most importantly online payment transactions are very simple and it is a most effective way of transaction.
How exactly an online transaction works?
It is a password protected payment method that authorizes transfer of funds over an electronic fund transfer(EFT).
In detail ,When you complete an online fund transaction through EFT by using your debit card with a personal identification number(PIN).
When the exchange of fund is completed through EFT network, the cost of these transactions typically amounts an inter charge fee. which means a fixed percentage of your total transaction cost.
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Is your all payment transactions are secure?
People always wish to play in a safe zone when they act .Today Most of the people using digital online payment system instead of direct payment.
One of the main advantage of online transactions is, You can make an online payment from your home, or from your office by using your PC or mobile phone at any time on your fingertips.
If you are a person who deals with banking, crypto currency, and investment etc… You may be well familiar with ‘block chains’.
What exactly a block chain is?
Block chain is one of the tremendous technological inventions for making payment gateway more secure and reliable for your business and online payment transactions.
As the name implies a block chain is a chain of digital blocks. Each block is connected to all the blocks before and after it. These blocks contain a record of transaction. Furthermore these records are highly secured by cryptography.
By the way, block chain wallet’s and block chain wallet apps yields fast and secure online payment management.
It invoked more popularity for block chain and block chain wallet development.
now a days demand for block chain wallet development is continuously goes up. So when you come to crypto currency transaction, for sure security is your topmost concern. certainly a block chain wallet keeps your crypto transactions trustworthy.
Types of block chain wallets
1) Software wallets
This type of wallet is similar to a software. Therefor you can install it on your PC and in mobile phones. It secures and controls your crypto currency transactions.
2) Web/Hosted Wallets
This type of block chain wallets are like apps/platforms. mostly hosted by a third party.
3) Hardware Wallets
To use hardware wallets you have to connect these wallets to an internet enabled device. How ever It is one of the safest wallet in use. It stores privet keys for users on a hardware device. Above all these type of wallets have compatibility with multiple web interfaces. So it render support for multiple crypto currencies.
4)Paper Wallets
Paper wallets mostly works with software wallets for the purchase and sale of funds. The key pair ( Public and private) is induced using a software application and then printed to make a transaction process.
Lets have a look on various benefits of block chain wallet app.
1) It is very Easy to install.
2) Above all Block chain wallet app provides More security on your transactions.
3) How ever there is no government authority regulations on this.
4) It yields an easy fund transfer system.
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