Cryptocurrencies are becoming increasingly popular among the masses and many people are interested in this relatively new kind of digital currency. The most well-known cryptocurrency and also the first one who became public is Bitcoin.
One of the differences to traditional currencies is, that cryptocurrencies are not stored in a bank account. The access keys to the cryptocurrencies are the private and public keys, stored on a wallet. The cryptocurrency itself is on the respective blockchain.
There are different types of wallets such as software (apps) and hardware wallets. We now turn to app wallets, which often offer more functions than only to ensure access. Very useful in connection with a wallet are payment options. With payment options the users now have access to their cryptocurrencies via the app and can also pay directly with it in the stores.
A new wallet app, that is also backed by e-commerce and web 3.0 is Touch.
Touch is a solution of Data Revolution Technologies, an innovative australian blockchain company.
The Touch Wallet can be used as wallet itself, for payments and secure transactions to other users. Transactions will be stored on the Ethereum public blockchain to guarantee security and immutability and they will be sent to a username, not a 40-character hexadecimal address.
Another feature are NFC payment options, which ensure a quick and easy payment and support the mass adoption of cryptocurrencies. The wallet is a multi-currency wallet, what means, that several cryptocurrencies can be stored on the Touch Wallet. Now, users have one app to have access to their cryptocurrencies and to make secure transactions.
Part of Touch´s solution is the Touch Spot Token (TST), an Ethereum based token. The tokens are required to unlock features, like to register an identity on the Touch Network. Furthermore TST can be used for opening and using payment channels with any cryptocurrency supported on the network. Transaction fees of 1 %, to cover the network costs, are paid to the network in its native currency $TST.
All users of cryptocurrencies and those who want to become one, can look forward to the touch wallet.
Chainsulting is part of the advisory board and accompanies Touch in the spaces of blockchain and business development.
The information on this site is for educational purposes only and is not investment or financial advice. Please do your own research before making any investment decisions and don’t invest more than what you can afford to lose. Cryptocurrency investments are volatile and high risk in nature. [Read full Disclaimer]