[pre-ANN] - Wallet Rahakott

[rahakottsmm]

On November 12, 2017, a new project, Rahakott, was launched. Rahakott is a cryptocurrency wallet that allows anyone to send or receive digital currencies and to monitor their balance. The surge in demand for cryptocurrencies drives demand for solutions that are more convenient and simpler to implement.

Digital currencies do not exist in physical form and are not stored in a single place. All that actually exist are transaction records in a blockchain. Therefore, when Bitcoin or other cryptocurrencies are transferred, the ownership rights to a certain amount are simply rewritten to your wallet’s address. However, to take control of that currency, the private key for your wallet has to match the public address to which the currency has been allocated. If they match, a withdrawal happens at one wallet and a deposit at the other. And all of this is just a record in the blockchain.

“The market does not currently offer that many choices of suitable, easy to use wallets that would give both security and speed in processing transactions,” comments Akke Svenson, the wallet’s founder. “We have had the audacity to address all the existing issues with the Rahakott wallet.”
The key issue is registration. It is on this step that some users simply cannot make sense of the system and go on to look elsewhere. The Rahakott service offers simple registration without email or phone, with just a mnemonic phrase.

Despite the simplicity of registration, the wallet is well-protected from hacking by two-factor authentication. In addition, users that conduct business using cryptocurrency can set up subaccounts for their clients and generate requests for payment. Rahakott has functionality that allows batch generation of a large number of addresses. Miners have the ability to set a wallet address as where they would like to receive their reward for mining.
The wallets are algoristic, meaning that a new address is generated for each transaction, which increases user anonymity. The existence of an API allows for the wallet’s functionality to be integrated into external web services and software.

“Rahakott went live on November 12,” says Akke Svenson. “We plan to keep perfecting the service’s functionality as we go. Our next step is to integrate currency exchanges, so that clients can choose the best exchange rates when converting to other cryptocurrencies and fiat currencies (P2P exchange). Our service serves to disrupt the status quo in the modern financial system, which is riddled with limitations, fees, and difficulties in processing transactions. We find ourselves at the starting point of a new, independent, and transparent financial future. And we’re building that world together!”


Website: Rahakott.io

[1713542630]

1713542630

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The Rahakott Team

Akke Svenson - Rahakott.io cryptocurrency wallet founder
Entrepreneur, IT specialist, blockchain enthusiast. Graduated from the Royal Institute of Technology in Sweden and Stanford University in the US. He began his career at Ericsson, then worked on developing services for financial companies in Europe. For a few years he served as CTO at a Silicon Valley fintech startup. After that, he returned to Sweden and founded his own company, specializing in IT consulting. He became interested in blockchain in 2013, believing that modern technology will help build new economic relationships in the world.
Akke Svenson comments in the media:
https://coins.newbium.com/post/10257-new-wallet-rahakott-will-make-the-cryptocurrency-w

Maksim Shreyder- Rahakott.io cryptocurrency wallet cofounder
IT expert. Graduated from the Moscow Institute of Physics and Technology and the University of London. He began his career as a programmer, developed projects in the e-commerce sector, and headed IT departments at Russian and English companies. In 2015 he became interested in cryptocurrencies and mining.
Website: https://rahakott.io/

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Advantages of Rahakott Wallet

- Simple registration without email and phones, according to the mnemonic phrase
- The presence of two-factor authorization increases the protection against hacking
- For users who conduct business with crypto-currencies, it is possible to establish subaccounts for their customers, generate payment request                  links, there is a batch generation of a large number of addresses
- For miners, it is possible to specify the address of the wallet as the address of receiving the reward for mining
- Wallets are deterministic, that is, for each transaction a new address is generated (optionally, it increases the anonymity of the user)
- Transfers between our clients occur instantly
- The presence of the API allows you to integrate the functionality of the wallet into external web services and software solutions

The service makes it possible to make instant transfers in bitcoins to a large number of clients on an ongoing basis. This allows business owners on cryptorines to avoid problems with delays in transfers in bitcoins and, because of this, to increase turnover. This does not exclude the possibility of using the wallet by ordinary users.

There is no password in the usual sense. The system generates a unique mnemonic phrase of 24 words, which authorizes. Enhances the protection of two-factor authorization.

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What you have to know, to choose a good cryptocurrency wallet

Experience
Currently, services are made friendly to users, so that even a beginner could figure out how to register, send or receive digital money. Because the experience with crypto wallet is not necessary. The only thing if you open your own wallet, you need to understand how cryptocurrency works, what happens to your funds in transactions, how your funds are stored and how access to them is. These are the general principles of the functioning of cryptocurrencies, which are worth knowing in order to choose the cryptowallet correctly, because they are of different types and cover different needs of users.

If you have never worked with a cryptocurrency before, then open the wallet, try to understand the topic, consult with those who have long been in the market to make the right choice, corresponding to your tasks.

Mindfulness
Be careful when choosing sites to accommodate your funds.

Pay attention to the availability of the resource. Like any other financial service, the resource must run smoothly and without problems.

Read the responses about the company. The presence of a large number of reviews of problems and delays should alert you. Do not miss such reviews, relying only on the opinion that this is the machinations of competitors.

Examine the information whether the resource should have the latest developments to ensure the safety of customer funds. It is necessary to have two-factor authentication (SMS authentication is no longer a safe way).

Check the support service. In case of problems, you must have a communication channel with technical support that reacts quickly.

Look at the commission to understand what minimum amounts to send through the purse does not make sense because of payments to the system itself.

Do not miss any of these points, painstakingly studying the system before starting work, and not when the problems begin.

Be careful
Transparency of the market is one of the main advantages of crypto currency, but at the same time,it`s additional opportunities for various kinds of scammers who wish to take advantage of the credulity of newcomers.
Be sure to use all available protection options that the service provides. Keep your mnemonic phrase in a safe place, better printed on paper and removed from the computer. If you save on a computer, use special programs to store passwords, for example, KeePass. Ideally, to work with crypto-currencies, start a separate laptop running on Linux.

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How to create an account on Rahakott

1. Select the language

2. Click on the button - registration

3. Enter captcha (protection from bots) and click the button - register

4. On the next page there will be a mnemonic phrase. It must be kept in a safe place. Then click on the button "I saved everything"

5. Next, you must enable two-factor authentication. It can be implemented using programs on the phone Google Futhenticator or Authy. Or create a password.
 If you are sure of your inaccessibility, you can skip this step.


6. After that you will get into your wallet, where we can send or receive bitcoins.

https://rahakott.io/register

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How to Check a Cryptocurrency Wallet

It is necessary to pay attention to the availability of the resource. Like any other financial service, the resource must run smoothly and without problems.
The resource must have the latest developments in ensuring the safety of customer funds. It is necessary to have two-factor authentication (SMS authentication is no longer a safe way).
Having a normal support. In case of problems, you should have a communication channel with technical support, which answers at an adequate time.
 
 In case of using the phishing site by scammers, pay attention to the correctness of writing the domain, often replacing one similar letter or being replaced by a digit (i on 1, h by n). You must have an SSL certificate (the site address must start on https, not http).
 
 Avoid services where you need to specify a mailing address. In the case of our service, you do not need to specify a mailing address, so you can not receive letters from us in principle. If you see a letter from us in the mail box from us with any content, it?s scammers.
 
 For large amounts, for example, in bitcoins, it is better to use wallets, where there are few currencies or in general there is the possibility to store only bitcoins. Multicurrency adds risks of hacking the whole service because of the large number of raw, badly tested purses of new currencies.

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Software Wallets

These wallets are divided into categories:

Programs for PC
The principle of operation is very simple: the program is downloaded from the service site and installed on a stationary computer or laptop. Such purses store the history of all transactions in the network, therefore they occupy a certain amount of memory (more than 165 GB in the case of bitcoin). Log into the wallet can only be from the device on which it is installed. This is one of the most reliable and optimal options for storing funds, it is no coincidence that it is popular. The risk in this case is connected with a possible hacking of the computer or a virus attack. Therefore, do not save on the latest version of a good antivirus. Be sure to save the wallet.dat file in a safe place. If it is damaged, you will lose your savings.

Applications for smartphones
These wallets can be called mobile versions of wallets for PCs. The program is installed on the phone, it weighs less and is often easier to use. These wallets can be advised to those who need constant access to the cryptocurrency anywhere. But if the phone is lost, there is a risk of losing your money.
 
Online wallets
These wallets are in the cloud, they can be run anywhere from any device. To create a purse, you need to register on the service website. But this method of storing cryptocurrency is more risky than the others: in this case, passwords and secret keys are stored on a third-party web server, that is, from third parties. Such wallets are convenient, but also susceptible to hacking and hacking attacks.

Website: https://rahakott.io/

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Hardware & Paper Wallets

Hardware Wallets
 Such purses store all user data on an external storage device — a flash drive with a crypto chip. To make transactions, you just need to connect a USB flash drive to any computer with Internet access, enter a PIN code and transfer money. The transactions themselves are carried out online, but are stored offline. This makes hardware wallets almost the leader in reliability: they can not be hacked. The minus of such wallets is their high cost. It would be desirable to cancel, that now the market was flooded with counterfeit hardware purses. Therefore, buy them strictly from official sites of manufacturers with delivery, which excludes the penetration of strangers into the parcel.
 
Paper Wallets
This option also refers to the number of reliable: the user prints a sheet with QR codes of public and private keys that provide access to money. The possibility of hacking is not very likely, but the security of the funds depends on the security of the sheet with the codes.
 
 In conclusion, I would like to note that whatever type of wallet you choose, do not forget about the safety rules. Then your funds will be under reliable protection.
Website: https://rahakott.io/

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Problems of Phishing and Viruses

Any service on the Internet that aggregates cash attracts the attention of scammers.

Phishing
The most common type of fraud is phishing - replacing this site with an exact copy. If you enter your data on such a phishing site, you transfer control over your account to intruders.

In case of using the phishing site by fraudsters, pay attention to the correctness of the domain name writing: often a substitute for one similar letter or is replaced by a digit (i on 1, h on n). You must have an SSL certificate: the site address must begin with https, not http.

To avoid getting on the phishing site, bookmark the resource and use it to enter the site.

Pay attention to the letters from the service and the links in it. By the way, the most advanced services do not have mail correspondence to minimize the possibility of fraud.

Viruses

Of the more common types of fraud, there is also the ingress of Trojans (viruses) onto a personal computer. In this case, all the passwords from the computer fall into the wrong hands.

Protection here is roughly similar to the protection against phishing. Do not open links in letters from unknown senders, do not download files from questionable sites, use antivirus software.

Ideally, to work with crypto-currencies, start a separate laptop, which will be used only for this purpose. Make and keep all the backups (backups) in a safe place.

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Tips to Secure

Malicious Wallets

 More recently, there has been a case of hackers using credit SSH loans to use equipment for the mining of Ethereum. Keep in mind that in cases where owners changed the OS’s default credentials and placed the installation behind the firewall, they were safe from attacks.
 Keep your password close to you. Don’t forget to use every security option offered by the service. Keep your mnemonic phrase in paper, not in your computer. Either print it out and delete from a computer.

If you save it on a computer, use special programs for password storage, like KeePass. The best option, however, would be to use a separate laptop operating on Linux for working with cryptocurrencies.

In Australia a crypto trader managed to lose all his money due to his carelessness. The hackers managed to make a copy of his website and manipulate the google search. So the victim logged into a scam site, consequently giving the hacker all the login details.
Conclusion, always check the website address. In order to avoid logging in to phishing site, save the link in your favorites, and use it to access the web site. Check the correct form of the domain and SSL-certificate availability. Hackers often exchange letters to numbers that look alike.

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Bitcoin Growth Factors

Hype and greed
Despite the fact, that the growth of the crypto currency for the year amounted to more than 870%, the main question remains: who or what can stop this process? The fear of missing something important makes more and more investors buy crypto currency. Those who did not believe in this initially begin to reconsider their ideals. And those who saw how friends make money on it, go to the market.

Universal recognition

Additional factors of support are the news, which fixes the status of the crypto-currency at the generally recognized trading floors. For example, the CME Group, the largest North American financial derivatives market, uniting commodity exchanges in Chicago and New York, plans to launch Bitcoin futures, as it begins to use the hungry demand of large investment funds. In fact, this recognition of the potential of this crypto currency market mastodons.
 
 In addition, there are interesting statistics on the distribution of cryptoplaces around the world. Bitcoin is already a legal tender in Japan. From August to October, the number of enterprises accepting this crypto currency for payment increased by 12%.

What to expect before the end of the year?
 Now, with the growth of bitcoin, an interesting trend has emerged, after correction and the period of recession, growth begins, and it lasts about 7 weeks. If we assume that the cycle will continue, we still have 4 weeks ahead of us, so there is a high probability that the rate will approach the $ 12,000 mark.

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Negative aspects that can affect the course of the main crypto currency

First of all, this is a total ban on its circulation, initiated by the governments of different countries.However, following the example of some states, we can state that these prohibitions have only a temporary impact on the course, then it is restored and goes even higher.

Moreover, the governments of some countries are already issuing their own crypto-currencies, so, just a few days ago, Venezuelan President Nicholas Maduro announced the creation of a new crypto currency “Petro”. In connection with the economic crisis and hyperinflation of the Venezuelan bolivar, the president of the republic announced the introduction of a crypto currency, which will be backed up by commodity stocks, including oil.
The decision was announced on the official website of the government. According to the president, such a step will overcome the financial blockade and strengthen monetary sovereignty.

The new authorities, drowning in the economic crisis, Zimbabwe are also offered to create a national cryptocurrency. To negative aspects, one can attribute competition between forks (different branches) to bitcoin. So, the appearance of Bitcoin Cash, caused a lot of panic, which also pushed the course.
A few days ago there was news that by the end of December the bitcoin network will be replenished with a few more harts!
First there will be Lightning Bitcoin from an independent development team that promises that the coin will combine all the best from bitcoin and etherium.
 
 In a word, for bitcoin, the end of the year promises to be truly unpredictable. In the global perspective, it is unlikely that the collapse is likely, but the worst thing that the most famous crypto currency can expect is local correction and stagnation.

[Minerall]

I'm a miner and I'd like to know how convenient Rahakott wallet would be for my cryptocurrency manipulation? Can I get my mining rewards here? Is it possible with this wallet?

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I'm a miner and I'd like to know how convenient Rahakott wallet would be for my cryptocurrency manipulation? Can I get my mining rewards here? Is it possible with this wallet?

Thank you for your questions about our wallet. What exactly do you mean by "cryptocurrency manipulation"? If you'd like to know how convenient our wallet is for miners, then we provide a direct link for mining rewards.

[rahakottsmm]

Hi everyone! I've also got a couple of questions. Do they have a mobile app? And is this wallet only for bitcoin?

As for the mobile app, we don't have it for now. Our wallet saupports only bitcoins at the moment but we're planning on adding altcoins pretty soon. If you've got any other questions or suggestions, I'll be happy to help.

[Minerall]

I know that you're pretty new to the market, right? It makes it a bit hard to trust you.

[rahakottsmm]

You're right. The wallet is relatively new, i.e. it's been around since October 2017. The official release was on November 12, 2017. We're planning on earning your trust by constanly upgrading and improving the app functionality. There are plenty of cryptocurrency wallets out there that's why we decided that ours will stand out in terms of practicality and functionality.

Please pay attention that we're a for-profit company and we get profit from external transactions. Transparent monetization model is one of the factors of an actual project that is to be successful. It'd be best if you could see everything for yourself. You can test the service with small amounts and check out all the functions.

[Minerall]

I agree that there are many of wallets now but it's hard to trust them. But thanks for the detailed info. Good luck!

[Verethraghna]

what's the different advantages this wallet can offer to its users and why should people choose your wallet instead of another well established wallet (exodus or jaxx for example)?

[Crysty]

wallet rahakott will be a super hit
looking forward for more updates