Crypto wallets come in many different shapes and sizes, but even the most popular ones have their flaws. Enter Gridlock; the ultimate solution to the dilemmas of crypto storage. But what makes Gridlock so great?
What is a crypto wallet?
Much like a physical wallet, a crypto wallet is a place to store your funds. However, no one walks around with hundreds of dollars in a vulnerable piece of leather, waiting for a pickpocket to ruin their day. This is where bank accounts come in.
A crypto wallet can be seen as the equivalent of a bank account for cryptocurrency, but the whole point of cryptocurrency is to not have to use a bank or any form of intermediary. Some crypto holders rely on crypto exchanges to hold their assets whilst they interact with the market; but others see the vulnerabilities in exchanges and use wallets for better security.
Popular crypto wallets include MetaMask, MyEtherWallet (MEW), or hardware options like Trezor. Each of these have their benefits, like support for a range of crypto tokens and NFTs; capabilities of interacting with DeFi protocols; and various methods of security. Whilst popular, each has flaws which could lead, and has led, to losses of cryptocurrency – billions of dollars worth of crypto assets are lost or stolen each year. Gridlock wants to stop this.
What sets Gridlock apart from other crypto wallets?
Gridlock identifies flaws in popular crypto wallet options and has created an alternative to mitigate them.
Keeping your crypto in an exchange takes the control out of your hands. You have to rely on the exchange to not shut down or be breached; they ultimately have control of your funds which is a big red flag in security.
Personal storage is the most practical choice, but other options can be stressful on the user to maintain and have outdated security methods. Gridlock provides an alternative with a revolutionary security system called Guardians, which distributes pieces of a private key between a network of devices. This makes the likelihood of hacking impossible and allows for social verification on suspicious activity.
Gridlock’s crypto wallet is so easy that anyone can use it. Download it for free on IOS and Android.
What cryptocurrencies can you store with Gridlock?
Gridlock supports Ethereum (ETH) and is soon to launch ERC20 Tokens, like Chainlink (LINK), Tether (USDT) and Shiba Inu (SHIB). Following this will be NFTs before the end of 2021, making Gridlock a flexible crypto wallet for any user.
Why choose Gridlock as your crypto wallet?
Gridlock combines the best security with the easiest user experience. You can rest assured knowing that there is no way a hacker could breach your wallet when you have Guardians to protect you.
Even a novice crypto holder can set up a Gridlock account and begin protecting their funds today!