What is the importance of cryptocurrencies without a wallet? A wallet is an integral part of the cryptocurrency as without the wallet, there won't be any such of cryptocurrency storage.
Where this wallet seem to be more useful, comes its deficiencies. We all know that the importance of securities attached to wallets cannot be over emphasized. Lately, big problems ecumber this crypto wallets as hacks and thefts become the order of the day. Wallets losing its securities to hackers, users losing funds to hackers etc.
Security becomes more and more needed as there is need to protect ones fund. Hence the birth of COOLWALLET. 
Coolwallet is the game changer that has come to eradicate the inefficiencies and insecurities related to cryptocurrency wallets. Coolwallet is the sole brain of CoolBitX which was founded in 2014 by Micheal Ou, a Taiwanese FIN-TECH company which specialized in manufacturing secure, US patented digital asset hardware and also in developing smart contract platforms of millions of users.
WHAT IS A WALLET?
In a layman words, a wallet is a "purse-like" where varieties of tokens or cryptocurrencies are kept/stored for use, usually digitally encrypted in digits and alphabets.
USB hardware wallets seem to provide a more suitable solution for security of private key
custody, but for all the safety gained by using these wallet, a user will lose in convenience
due to their restrictive desktop use cases. Mobile wallets, and online wallets on the other hand,
provide a suitable solution for convenient private key custody. Despite the securities provided, they are still not as secured as it should be. Therefore, COOLWALLET comes to being a solution to this problem of insecurity.
WHAT IS COOLWALLET?
COOLWALLET is a novel wallet system built for iOS and Android operating systems that
wirelessly bonds with a Secure Element hardware wallet. COOLWALLET secures private key on a secure element while still allowing the user to interface the blockchain from a mobile device.
COOLWALLET was launched in 2016, the first generation CoolWallet was designed from smartcard technology. Although the initial design of COOLWALLET wanted to be able to not only spend cryptocurrency as a payment card, but also as a cold storage device. However, the device only supported Bitcoin. The first generation serves as
a foundational product technology in which numerous applications and products may arise.
To that end, CoolBitX launched the CoolWallet S in March 2018. The CoolWallet S supports varieties of cryptocurrencies namely;
Bitcoin, Litecoin, Ethereum, Ripple, Bitcoin Cash, ERC20 Tokens, and with more coins and
tokens coming with future updates. Combining best-in class security and pure mobility, the
CoolWallet S has reset the world’s expectations for a hardware wallet with its credit card size
and feel, physical flexibility, waterproof protection, and smart, over-the-air software and
firmware updates that make it better over time.
BENEFITS OF THE COOLWALLET
The question now is, how does the COOLWALLET seek to solve problems associated with insecurities and inconveniences in crypto currencies storage? The COOLWALLET no doubt solves these problems by the following:
COOLWALLET will enable end-to-end secure over users assets.
Through COOLWALLET's check and balance system, no one component of the system is capable of controlling the other system. They work in a decentralized way as a transaction cannot be successful and carried out without the present of the APP, the HARDWARE WALLET and the REAL USER. The biometric of the user here is very important.
The CoolWallet S combines the world’s largest
verified address database of the MetaCert Protocol with its own advanced hardware form to create an ultra-secure cryptocurrency transaction environment.
The COOLWALLET is not just a hard ware wallet, it is a wallet designed to disrupt blockchain, securities associated in cryptocurrencies use and the users. This is made up of 3 great elements namely:
BLOCKCHAIN LAYER: The blockchain layer serves as an authenticator that accelerates users interaction with the blockchain.
APP LAYER: The app layer serves as the portal of the blockchain layer.
COLD STORAGE LAYER:
This is the isolated involvement a user stores their private key.
IMPORTANT FACTORS OF THE WALLET
The major factors associated with the COOLWALLET are:
The App.
The hardware wallet and the
User.
These factors serve as checks and balances to activities such as transactions going in and out of the system. For instance, For a transaction to be carried out, the app must be there. While the app is there, the hardware wallet also needs to be there and then finally the user through the use of blockchain biometric to successfully executes a transaction.
With COOLWALLET, centralized method of cryptocurrency use is rendered obsolete, while a better decentralized method of use is unleashed. Thus, becoming the big thing happening in the crypto space.
SHOWROOM OF COOLWALLET
USEFUL LINKS:
Website: https://coolwallet.io
Reddit: https://www.reddit.com/r/CoolWallet/
Telegram: https://t.me/CoolWalletS
Twitter: https://twitter.com/coolwallet
Facebook: https://www.facebook.com/coolwallet/
Author:Ritabella
Bounty Ox username:Ednar