Like many other users of the blockchain, I made some mistakes at the initial stage and had to learn through experience which cost me some amount of money.
Some years ago, a friend introduced me to blockchain technology and its amazing potential. I became so fascinated by the wonders of this technology that I couldn't wait to dive in. The sad thing is that my friend was also new to the usage and modus operandi of cryptocurrencies and blockchain technology in general, so we were both learning on the job.
After I opened a cold wallet to secure my crypto assets, I went on to register on an exchange platform to purchase some coins, by the time I was about to withdraw the coin from the exchange to my cold wallet, little did I realize that the address I copied was not correct, that was how I lost about $200 worth of ETH in the days when 1 ETH was around $55.
You will agree with me that I'm not alone in this kind of ordeal as several others have lost fortunes due to some mistakes made during transactions of cryptocurrencies.
Of course, blockchain technology is so versatile and efficient. The first thing that endeared me to it is its immutable nature - the ability that makes it practically impossible to alter or completely erase any data stored on the blockchain as it provides ledger storage where data is permanently stored.
The kind of transparency the blockchain brings to our world is second to none. Almost all transactions done on the blockchain are made visible to all, which goes a long way to ensure openness and accountability as antidotes to corruption in organizations and society at large.
Blockchain remains a source of high-level security through its decentralized mode of operation and is well sought after by corporate entities as a means to upgrade their level of operation.
It is no longer news that the mining of Cryptocurrency is made possible through the application of blockchain technology. What a great tool that could be applied in almost all fields of life!
Despite the usefulness of the blockchain, it has a grey area that is often overlooked by many platforms that have built one project or the other on the blockchain.
The grey area of blockchain is its complexity. If you are not technically inclined, operating on the blockchain for the first time might not be a smooth ride. It is either you need someone to put you through or you take time to study its operation in-depth before committing your funds to it, to avoid any form of loss.
Operating on the blockchain could be very complex and complicated which is often tasking for new users and has deterred many people from enjoying the benefits of the blockchain.
Since my initial experience on the blockchain was not that smooth, it has been my passion to help new users onboard without hassles. Therefore my joy knew no bounds when I came in contact with Blocto - a project whose vision is to ensure a smooth entrance into the blockchain world by every new user.
Blocto is specially designed to tackle all the challenges confronting new users which are posed by the complexity of the blockchain as it gives an easy entrance experience to blockchain users through the user-friendly platform it provides.
Blocto is built on the Flow blockchain with Flow/Ethereum teleport. It has various blockchains integrated such as Binance Smart Chain, Solana, Tron, etc.
With the help of Blocto, any user can begin to use blockchain applications irrespective of their prior knowledge of blockchain operations.
One of the outstanding features made available by Blocto as a means to ease the burden of blockchain users is the single Identity system. This means that a user can have a universal address which is usually an email address that is capable of receiving crypto assets.
With a single blockchain identity on Blocto, you can securely send funds to other users and interact without any fear of loss. This is so unique and serves an ease to users who would not have to register and get various Identities on different platforms.
You can easily buy and make use of diverse kinds of crypto assets with a unified interface without having to understand the technicalities of the operation of those different assets.
The joy of it is that it only takes a few simple steps to create this blockchain identity. There is no need for writing any mnemonic phrase down. It is straightforward to open and you could rest assured of the safety of your credentials.
Moreover, through a simple email login, users can access the platform from multiple devices, interacting with their favorite decentralized applications on the go as thousands of dApps are already supported by Blocto.
Had it been that a platform like Blocto was existing when I newly joined the crypto space, I wouldn't have recorded any loss because my email address would have served as my blockchain Identity, so there won't be any reason sending funds to the address.
The e-mail address that has now become my identity on Blocto, had been in use for more than a decade, therefore I could hardly forget it and more so, it is the combination of my names which makes it impossible to be forgotten, compared to the situation where you have some combinations of alphanumeric characters that are long and incomprehensible.
Another aspect that is of great concern to many users has also been taken care of by Blocto, which is the aspect of buying crypto directly with conventional currencies. Acquiring crypto assets directly has never been easier. Blocto provides a wide range of options for users to buy crypto directly as it supports multiple fiat purchase options.
On the Blocto app, you can easily buy crypto assets with your credit cards. It means you don't have to leave the app before buying the crypto asset of your choice.
Apart from using credit cards, users can also make use of Google pay which is one of the easiest means of payment for many users. The option to purchase crypto assets with Samsung pay has also been incorporated on the Blocto app.
Blocto is constantly being upgraded to deliver the best to its ever-increasing users. Blocto now supports Versus which is a marketplace for novel art, whose vision is to empower the artist and the collector. Whether you are an artist or a collector, you can enjoy unlimited access to Versus through the Blocto app.
Versus has a unique auction system that enables artists to receive fair value for their artworks and also make their works accessible to a wide variety of collectors.
With Versus, Collectors have true ownership over their digital assets when compared to what is obtainable on other NFTs marketplaces. The uniqueness of Versus is being built on Flow blockchains which have much lower transaction fees.
Another good news for all Blocto app users is that you can now display your CNN NFTs in your Blocto App directly and be able to transfer them to other flow blockchain wallets.
CNN, being a reputable organization for more than 40 years, has developed a unique way to own and experience some of the historic moments that changed us and our world. The concept is called Vault.
Vault offers various unique moments as officially licensed digital collectibles which are authenticated and verifiable by blockchain technology.
Each moment from Vault by CNN is minted and auctioned on CNN's website and now could be displayed and transferred on Blocto app.
You can download the Blocto app here
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