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- March 3, 2022, 17:17
Grapherex is a communication platform that goes beyond what your typical messenger has to offer. It simplifies and secures user interactions, ensuring data integrity and safety. Grapherex also provides a multi-purpose FinTech service – a crypto exchange and e-Wallet. This article gives a short overview of this secure wallet and the crypto assets it supports.
Benefits of the Grapherex Crypto Wallet
Now you can store crypto in an app and effortlessly send it to anyone in your contact list. Grapherex is an excellent choice to manage your crypto assets without getting into the process’s difficult and technical parts. All you need is to do is choose your preferred digital currency and create a password. The user-friendly and convenient interface will make life much more comfortable. Below we have listed which cryptocurrencies the Grapherex supports, with a short explanation of each of them.
Bitcoin
Bitcoin is a digital payment system. Its coin is Bitcoin, the most popular and expensive cryptocurrency. Bitcoin was created as a system, which would not depend on the central banks or the economy of a particular country, and transactions. Therefore, the unique feature of Bitcoin is that the users of the system themselves issue coins, and payments are made according to the peer-to-peer scheme, that is, from participant to participant, bypassing banks.
Bitcoin Cash
Bitcoin Cash (BCH) is the Bitcoin blockchain’s most successful hard fork. This hard fork’s main point is that transactions with Bitcoin Cash are a lot faster than with traditional Bitcoin. Bitcoin Cash was created in 2017. When Bitcoin received almost 10 million transactions per month in 2017, it was not surprising that this caused problems: Bitcoin users had to wait a long time for their transaction to reach the recipient. This created a massive queue of transactions.
A solution for this was the “replace-by-fee” system. This means that people whose trades are on hold can place the trades again, but this time with a higher fee. As soon as the new transaction is included in a block, the old transaction expires.
Litecoin
Litecoin (LTC) is a cryptocurrency born in October 2011. This altcoin is based on Bitcoin’s source code, but several technical adjustments have been made. Litecoin, for example, came up with a new algorithm called Scrypt, which should ensure better decentralization. Litecoin also has a faster confirmation time. Transactions via the Litecoin blockchain are confirmed in 2.5 minutes on average. Bitcoin has a confirmation time of minimum 10 minutes.
Ethereum
The terms Ether and Ethereum are often used interchangeably. Ethereum is the network or the platform. The token used on that platform is called Ether (ETH).
You can use ETH as a means of crypto payment and exchange them for goods or services. Many web shops have added Ether to their list of accepted payment methods. For making a payment with ETH, you don’t need anything other than a wallet with ETH and the receiving address of the party to whom you are transferring the money.
Ripple
Ripple can best be seen as a payment protocol. The protocol is aimed at simple, fast, and economic transactions. So, it is not a cryptocurrency but a back-end infrastructure. Ripple’s currency is called XRP, which is where the transaction costs for the Ripple currency are settled. The characteristic of XRP is that it is a centralized currency.
Stay tuned for our future updates – we always have something exciting in the works. And enjoy the Grapherex app!
