Let’s be clear: this article is not only about the variety of crypto wallets and cryptocurrency exchange services in general, but also about the Cratos service in particular. Cratos service. We want to tell you more about the features of our crypto wallet, as well as the advantages of such products for corporate clients.
What to notice when choosing a crypto wallet?
1. A way of storing keys from a wallet
There is a lot of cryptocurrency exchange services and crypto wallets available on the market. However, you need to find a place that fully meets the needs of your business.
There are two types of crypto wallets: hot and cold.
Hot wallets are online wallets that store cryptocurrency. Your currencies are always online, and you have quick access. This formula allows you to make online transactions quickly.
A cold wallet is an offline type for storing private keys offline. Cold storage crypto wallets are slower, but much more secure. Cratos has exactly the cold storage type of wallet data. We guarantee you higher security of your financial assets.
2. Security: valid licensing, two-factor authentication, access roles, activity log
- Valid licensing. The presence of a license and other related documents is the very first thing you should pay attention to. Cratos is reliable and safe due to the availability of licenses issued by the Estonian Financial Intelligence Service (FIU).
- Two-factor authentication. This function is the milestone for your wallet’s security. The system sends you a verification code every time you log into your wallet. No one else will be able to get access to your wallet. In case someone tries to log in, you will receive a code and a notification. You need to make sure the wallet you choose has these features.
- Access roles and activity log. When choosing, pay attention to these functions. The role assignment function will provide more security in case your employees work with a crypto wallet. The ability of an activity log with all of the financial transactions made provides an understanding of what is happening.
Cratos crypto exchange service has unlimited limits and levels, two-factor authentication, access roles, and activity logs. These security issues will help your business comply with regulations and stay safe.
3. Ability to store different cryptocurrencies
Some crypto wallets prefer to work with some popular crypto titles. Others provide wider services to the clients with a lot of cryptocurrency options at the same time. Cratos allows you to accept, exchange, send and store funds in more than 38 cryptocurrencies. We provide you flexible system of cooperation, cash flows, and commissions too.
4. Convertible account
Converting one currency to another is an important function for modern exchange services and platforms, especially for the cryptocurrency world. Let your customers pay with cryptocurrency. Customers pay with cryptocurrency; you will receive euros in your bank account as usual. Cratos has taken care of this. We provide convenient space for depositing and withdrawing funds through SEPA or SWIFT bank accounts for 1 day.
Soon, Cratos will run, and each corporate client will be able to work in a fully automatic mode, receive statements on transactions and dispose of his crypto funds as he wants. Follow our news https://cratos.net/news
5. Customer support service
The market value of a cryptocurrency changes very quickly, so the customer service should be highly responsible and effective if something goes wrong. This is also related to cryptocurrency exchanges. We adapt to each client and assign a personal manager for efficient and quick interaction.
What are the secure crypto wallet criteria?
The partner services of crypto wallets are very important. Important things to notice here are a cryptocurrency storage partner and a cryptocurrency exchange partner.
Cratos works with trusted cryptocurrency storage provider BitGo. It is one of the largest and most trusted institutional players in the crypto market. Over the past three years, BitGo has received two Fiduciary Charters:
- the New York Trust Charter;
- the South Dakota Trust Charter.
By the way, the New York Trust Charter allows BitGo to provide services in many other states without the need for additional licenses. To date, the NYDFS has approved only a handful of Trust Charters for virtual currency businesses.
To provide reliable exchange services, we use the most proven exchange providers Kraken and Bitstamp, which is why we have the best exchange rates on the market.
For example, Kraken works in the US market for ten years and is regulated by law. It accepts 4 fiat currencies and has a wide range of cryptocurrencies to use. And in turn, the Bitstamp exchange accepts even more currencies for fiat payments.
Therefore, these two services allow us to provide corporate clients with the safest and most comfortable storage and exchange conditions.
The reason why a crypto wallet is a good idea for a business
Cryptocurrencies have been almost in the spotlight over the past year. Digital currencies have a significant impact on businesses as a whole. To stay competitive, more and more companies and businesses are starting to accept cryptocurrency payments due to the rapid growth of the number of users.
Let’s see the advantages of cryptocurrency payments for any company, as well as the use of a corporate cryptocurrency wallet.
Quick international payments. Sending cryptocurrency across the border is as easy as sending it across the street. There are no banks to keep you waiting for standard 3 business days, no additional fees for international transfers, and no limits on the amount you can send.
Multi-signature. For example, Bitcoin includes a multi-signature feature that allows you to spend cryptocurrency in a case when a subset of a group of people authorizes the transaction. This is a useful thing for the board of directors, for example, to prevent members from committing expenses without sufficient consent from other members, and to keep track of which members have authorized certain transactions.
Does not need PCI compliance. Accepting credit cards online usually requires rigorous security checks to comply with the PCI standard. Cryptocurrency requires you to protect your wallet and payment requests, and that’s the only thing. At the same time, you do not bear the financial costs and obligations related to the processing of confidential information from your clients. It works just like with credit card numbers.
So, let’s make a resume. Digital currencies are gaining more and more significant influence in the business world. The shift has already begun, so companies and businesses today should think about adapting to the new reality. And the Cratos crypto exchange is the service that will help you with any issue. https://cratos.net/corporate