Daily Crypto News

Payperless Crypto Wallet announced working on NFT tokens support

BROOKLYN, NEW YORK, UNITED STATES, June 25, 2022 /EINPresswire.com/ — The team at Payperless Crypto Wallet, which is a mobile app for crypto assets storage, announced on June 15, 2022 that they have been actively working on finalizing support of NFT tokens in the said crypto wallet.

According to the manager of the Company, this upgrade for support of NFTs should take place before September – October 2022.

What are NFTs?
Non-Fungible Tokens, or NFTs, are non-interchangeable or, more simply, unique tokens. The token itself is essentially a certificate confirming the user’s ownership of a particular digital object. Token – is a digital, virtual asset that has been issued on the basis of a cryptocurrency and implemented using blockchain technology. Thanks to a special combination of encoded symbols, all the necessary information is written into the token.

By purchasing an NFT token, the user receives a status officially confirming their right to own a unique digital object. In addition to this, other rights are given to the buyer so that he can do something with the token.

A token can be attached to any digital commodity – images, music, videos and other types of digital content. Blockchain services and virtual wallets are organized in such a way that a user can store tokens for an unlimited amount of time.

Recently, virtual sneaker apps that allow to earn money in the form of NFT tokens by doing physical activity. These apps provide a reward in the form of NFT tokens, that are usually stored at online exchanges.

But this way has disadvantages – it happens that exchanges are hacked, and users’ secret codes from crypto wallets, which are stored on the servers of such exchanges, are at risk of being stolen, with further theft of users’ funds by intruders.

We asked experts and got the answer: “Crypto wallet can solve this issue and help to store these assets more safely” – according to the opinion of Oleg Zyryanov, CEO of Bitcovault – another project based on blockchain, that manufactures and sells bitcoin ATMs.

To know more about crypto wallet app technologies and their advantages, read this article.

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