Adalite is a wallet that was built for Cardano and has specific functions for the asset that other multi-coin wallets don’t have. The wallet offers UX and graphical support so that when you are interacting with Cardano, you will have the best experience. Hardware wallets are recommended to access your wallet on Adalite since private keys are not stored using this activation wallet, Adalite is only used to facilitate your cryptocurrency trading experience.
There are three main ways to access your wallet, which are through the recovery phrases, hardware wallet, and key file, which is encrypted through a .JSON file.
The Adalite team focuses on graphical interphases that are simple and easy to use, as many people who are into cryptocurrency may not be tech-savvy. If you are looking for a platform that is easy and will allow you to hit the ground running, Adalite might be for you.
Introduction
Today we are going to discuss the features that are available on the Adalite that make it competitive to other wallets in the industry that help users interact with Cardano. Adalite’s main advantage lies with it’s staking service, where users can stake their Cardano fast and securely. If you have any questions, feel free to ask in the comment section below, and we will be able to help!
Features
**Staking Pool **— Adalite allows users to stake their coins with a 3% fee. Currently, there is only a test net available, but there are plans to make it fully functional by Q2-Q3 of 2020. Staking will allow holders to validate blocks and transactions and be rewarded with more Cardano tokens.
**Support for hardware wallets **— Adalite plans on releasing support for hardware wallets with staking before the official launch of their staking platform. Currently, you’re only able to stake your Cardano using mnemonic wallets which can be vulnerable as your private key is exposed.
Open source- Adalite wallet is an open-source platform that allows programmers and engineers to review the code. This allows the community to be warned if there are any potential exploits in the code before it’s used. Adalite interacts directly with the Cardano blockchain, and all transactions can be verified publicly.
**Quick to start **— There are no downloads or any registration process, Adalite allows users to hit the ground running by allowing the recovery phrase, file or hardware wallet to be used to activate funds. This is a key feature that sets Adalite apart from other wallets; other platforms have complicated registration processes and can take up to ten minutes to get started.
Conclusion
Although the Cardano Foundation did not create this wallet, it’s still worth checking out because the code is open source for anyone to peek at. If you’re using Cardano, it can be challenging to figure out staking on your own, but with Adalite it’s now more comfortable and safer to make the transition into staking and earning rewards.
Anytime you use a third-party application, you are susceptible to exploits, so it’s essential to understand that if you are using your .JSON file or recovery phrase, you are exposing your private information online where a hacker could potentially get control of it.