One of the most popular questions frequently posted on crypto social media is ‘Where can I store my cryptos?’ It seems to be a mystery for every investor who recently acquired a new coin. It is important to note that not all crypto wallets can store every coin on the market and therefore, one needs to keep your coins in dedicated wallets. However, one project, Ethos is planning to release a universal wallet that will solve this massive problem. Let’s take a look at what the project is about and how you can benefit.
What is Ethos?
Ethos is on a mission to make it easy for anyone to own cryptocurrencies. Whilst this may be the slogan of a lot of tokens, Ethos is taking it one step further by aiming to release a universal wallet. This wallet will apparently make it super easy for anyone to use. The wallet will also act as a gateway between fiat and cryptos. Some of the features include purchasing, trading and managing your cryptos from one wallet.
Ethos is meant to be a cryptocurrency for the masses. Currently, crypto investors have the option of storing their tokens on the project’s dedicated wallet or store multiple tokens in a wallet such as Coinomi, Exodus or MyEtherWallet (MEW). Unfortunately, you cannot store all the different cryptocurrencies on these wallets. Therefore, crypto investors may have several wallets each with their own private keys, 2FA authentication, and unique password. It can get difficult to manage all of these different wallets. Wouldn’t it be nice if there was one wallet that could hold every coin and make your crypto life easier?
Unique features of Ethos
Besides offering a universal wallet, the project will also feature a currency dashboard and social network. It is looking at introducing an easier way for people to convert fiat into cryptocurrencies. It hopes to offer more options and give investors peace of mind.
The Ethos Universal Wallet will be free to users and enable you to store value instantly from anywhere and at any time. What’s more, you will be able to manage your crypto portfolio from the comfort of your mobile phone. It also offers options such as email or Ethos ID.
The project also has a one-click diversification function. This will allow investors to diversify their holdings. For example, if you want to invest R10 000 into cryptocurrencies, it can be difficult deciding which coin to buy. Ethos gives you the option of taking that money and putting it into a “basket” that will diversify your holdings for you. You can choose from investing in the Top 10 coins, privacy coins, small or big market cap coins etc.
One of the first things you learn when starting out with cryptos is to never give your private key to anyone else. For the simple reason, that you are giving them access to your funds and they can steal it. Ethos can even simplify this with its offline wallet function. You can even put your cryptos into cold storage using this wallet! You won’t have to worry about an exchange being hacked.
Ethos presents fiat gateway to cryptos
The Ethos Liquidity Network is a fiat gateway to cryptos. Currently, you have to buy Bitcoin, Ethereum or Litecoin and then convert it into an altcoin. This network will allow you to go about withdrawing, sending, depositing any assets with complete liquidity.
Other unique features of the token include predictions, ratings, and reviews by the community, a portfolio performance dashboard, tax-friendly reports and best of all, no setup fees.
Bitquence to Ethos
Before the world was introduced to Ethos, the project was called Bitquence. It was launched in 2017 but renamed to Ethos in November of the same year. The rebranding saw the price of the coin spike and it caught the attention of the crypto world. It is important to note that this universal wallet has not been released in every country yet. At the time of writing this blog, Ethos was still on a mission to release the wallet to one country at a time.
In their weekly newsletters, the company stated that it was important for them to release the wallet slowly to ensure they meet with each country’s unique security laws. This goes to show how technical this product really is! Currently, the company is focusing on user experience, features, and regulatory compliance. An alpha version of the wallet was released in 2017. In 2018 Ethos is expected to enter its beta phase as well as production stage.
The mastermind behind Ethos
Hold onto your seats, the mastermind behind this revolutionary token is a 19-year old student at Brown University. Shingo Lavine wrote the Bitquence white paper and is backed by a team of experts dedicated to seeing the product emerge on the crypto market.
Get your hands on Ethos
An Ethos token currently costs $2.71 and is available on Coinexchange.io, Binance, HitBTC, Cobinhood and Bithumb to name a few. According to Coinmarketcap, it has a market cap of more than $207 million and a total supply of more than 222 million tokens.
2018 will be an exciting year for Ethos. Since the beginning of the year, the project has been embarking on an extensive marketing campaign to get crypto enthusiasts to sign up for the release of the universal wallet. The team has also announced various airdrop partners in their weekly newsletter. It will be a game changer if this product is successfully rolled out to the worldwide crypto community.