Klever wallet is home to over two million users all around the world. The wallet is known as one of the most secure crypto wallets and hosts more than 10,000 crypto assets. In this article, we will take a look at what Klever wallet is, how it works, and how to get started.
Overview of Klever Wallet
The Klever wallet is a simple crypto wallet that is based on blockchain technology. The Klever app is home to more than 300 trading pairs in Klever Swap and gives access to decentralized apps built on Ethereum and Tron.
The Klever wallet is a self custody multi-chain wallet that allows you to trade crypto assets in a simple way with little to no transaction fee. Klever offers features such as Klever App, Klever Swap, Klever OS, and Klever Exchange.
Klever wallet supports many crypto assets such as Bitcoin (BTC), Ethereum (ETH), Dogecoin (DOGE), Bitcoin Cash (BCH), Litecoin (LTC), Binance Coin (BNB), Tron (TRX), Ripple (XRP) and so many more including all ERC-20 tokens, TRC-10 tokens, TRC-20 tokens, and BEP-20 tokens.
Klever’s Roadmap
Since its inception in 2017, the Klever app has been improving as the platform looks to implement artificial intelligence to help users become smarter investors. So far, the platform has launched Klever OS, the Klever App, Klever Labs, Klever Browser, and Klever Exchange.
The Klever OS is the foundation of the entire Klever network. It serves as a security mechanism for all products and services on the network. The Klever Exchange allows users to trade cryptocurrencies with lower transaction fees and lower deposit limits.
According to the official website, Klever plans to add the Klever Blockchain, Klever Exchange for Desktop, Klever Blockchain, Klever Browser, Klever Bank, Klever Pay, and many more projects. Each product is designed to add more utility to the Klever ecosystem.
How to Set Up Your Klever Wallet
The Klever wallet is simple to use with a nice user interface which makes it easier for everyone to use. The Klever wallet is not just a crypto wallet. It also has an integrated DApp browser and a swap feature in the App browser. In this section, we will discuss how you can set up your Klever wallet.
The first step is downloading the Klever App from the Google Play Store or Apple Store. After downloading and launching, the first thing you will see is Klever's privacy policy, which you need to read and agree to by pressing the "Continue" button.
Once you have agreed to the privacy policy, you will get a prompt to create a new wallet or restore an old wallet. If you choose to restore an existing wallet, you will be asked to submit your 12-word seed phrase. If you are a new user, you have to choose the "create a new wallet" option.
When you choose to create a new wallet, you will be given a 12-word seed phrase that you need to save. This is the most important part of creating a crypto wallet. Losing access to your seed phrase is equal to losing all your assets in that crypto wallet. Write down your see phrase and put it in a safe place where you can access it anytime and no one has access to it. After writing it down and securing it, click on the “I've written it down” button below.
On the next page, you will be asked to input your seed phrase in the correct order. Once that is complete, the next page you see is your Klever wallet dashboard. The Klever App hosts not only the wallet but also the DApp browser, the Swap function, and access to Klever's newsletter.
How Secure is Klever Wallet
The question of security comes up with any crypto platform. No one wants to put their funds in a less secure wallet. Just recently, a crypto exchange in Japan announced that the exchange was compromised and hackers stole about $97 million of cryptocurrencies during the process. When users want to try a new wallet, it's normal if you wonder how safe it is.
The Klever OS supports the Klever wallet. It provides the most advanced security mechanisms that protect the funds and private keys of its users. Klever doesn't keep your private key in any database. You are in total control of your funds. The Klever OS SDK offers military-grade systems for encryption to developers.
The encryption takes place in the user's device called the Native Core. The Native Core communicates with the UI of the wallet system and is completely isolated. This makes it impossible for hackers to gain access to the wallet.
In addition, the app also allows you to secure your wallet with safe security practices such as Face ID and Fingerprint ID ensuring the highest levels of security for your money.
How to Backup Your Klever Wallet
Being in full control of your digital assets means being able to secure them in whatever manner you please. Your crypto wallet seed phrase is vital to the security of your funds. Your wallet seed phrase could be a 12, 18, or 24-word phrase. It is the master key that unlocks your wallet. It doesn't matter if you lose your phone or forget your PIN, with your seed phrase, you can gain access to your wallet and your assets.
When you create a new wallet with Klever, you will be asked to save your 12-word seed phrase. It is the only means to restore your wallet. You can write your seed phrase and store it somewhere safe. Another way you store your seed phrase is by writing them in a document file and saving it on cloud storage.
There are many ways to store your seed phrase. Always look out for methods that are simple and secure. It is worth noting that letting others see your seed phrase is the same thing as handing the keys to your house to a stranger. Anyone with access to your seed phrase has access to your funds and can do what they want with it.
Although your seed phrase gives you access to your wallet, each account on your wallet has a unique private key. For example, the private key of your Bitcoin account in Klever wallet is different from that of Tron. It’s always smart to backup your seed phrase and the private keys of the accounts that hold your funds.
To backup your seed phrase and private key, go to the Security section on your settings menu, click on the ”Backup Wallet” option. Input your pin code to gain access. Confirm that you know the risks involved and tap the “Okay, I got it” button. On the next page, select the blockchain and tap on the account you want to backup. You will be directed to a screen that contains your private key and seed phrase in different tabs. You can save your private key and seed phrase however you want.
Making the Klever Choice
Picking a crypto wallet is as important as investing in cryptocurrencies. User interface and security are key to making a choice. Klever wallet satisfies these criteria and it is a good option for those who want to keep it simple while being 100% secure. You will be making a klever decision to store your funds in Klever Wallet.
