GIFA Wallet is a digital wallet that allows users to store, trade, manage cryptocurrencies, and retrieve their digital assets. The wallet is a multi-asset solution allowing users to hold multiple cryptocurrencies, including Bitcoin, Bitcoin Cash, Ethereum, and Litecoin, among many others.
Before I go any further, I want you to think about how you store your real-world cash. You don’t walk about holding it in your hands, do you? Instead, you most probably store it in a leather wallet or purse, or maybe even a piggy bank in the house! Either way, it is wise to store your money where it is safe.
• GIFA wallet is a digital wallet that allows users to store and manage their digital assets.
• The Wallet is an E-wallet that allows individuals to transfer cryptocurrencies.
• With the Wallet, users can send and receive funds globally.
A cryptocurrency wallet follows the same core principles. Nevertheless, by obtaining a crypto wallet, you will have the ability to send and receive Bitcoin, GIFA Token, and other cryptocurrencies. However, things are slightly different in the digital world of cryptocurrencies and blockchain technology. Coins are not actually stored in a physical wallet, as cryptocurrencies do not exist in a physical form. Instead, the blockchain consists of transactional records that details which private and the public key has control over the funds.
Understanding GIFA Wallet
To make sure you have a full understanding, I will explain the role of a wallet address. A wallet address is like a bank account number. There is no harm in giving somebody else your bank account number, as people will need it if they are to transfer funds to you. This could be so your employer can pay you your salary, so a customer can pay your invoice or so that your friends and family can send you some birthday money!
In the world of cryptocurrency, if somebody wants to transfer coins to you, simply give your wallet address. Just like in the real world, no two wallet addresses are ever the same, which means that there is no chance that somebody else would get your funds.
Creating an e-wallet is free, and the account setup process is done online. Individuals must provide an email address and password that will be used to manage the account, and the system will send an automated email requesting that the account be verified. Here below are the important stages and steps you go through when creating a GIFA account whether on the App or via the official website:
3 Steps to Open the Account
1. Account Verification
2. Email Verification
3. Phone Verification
1. Account Verification (Click SUBMIT)
• Date of Birth (example: 1989–02–29)
• Address where you live
• Zip Code
• National ID card, or Passport, or Driver’s License (Upload a verified photocopy)
• Proof of Residence (Utility Bill) document confirming where you live and must state your address printed on it.
2. Email Verification (Click SUBMIT)
• Enter Email ID
• Password (confirm twice)
3. Phone Verification (Click SET)
• Select your Country (from the list)
• Step #1: Enter the number you wish to connect with your account after selecting the country of provenance. Click on the “Verify” button to instantly validate the phone number.
• Step #2: Within 3 seconds, 6 digits verification code will be sent to your phone.
• Step #3: Enter that code to validate the phone number, or you can “Reset” or refresh the page to request again.
This validated number you added to the system can now be used to set up a 2 Factor Authentication (2FA) that maximizes the security features of your account. Those are the steps users would go through when installing the “GIFA Wallet”.
GIFA exchange will send you an email for confirmation in almost every stage you go through. If you already have an account, you don’t need this; just hit the ‘’sign-in’’ button. Remember that any activity happening on your account, GIFA security will send an alert to you, this always done with the purpose to keep you update.
After your account is successfully created and login you will see the WALLET icon, BUY icon, TRADE icon, and TRANSACTION icon on top of your profile dashboard. Press on the wallet icon to reconfigure your digital wallet extra login credentials such as Google Two Factor Authentication that required 6 Digit OTP.
Once the wallet is created, the user is provided with a Wallet Address that looks like, eg: 1BvBMSEYstWetqTFn5Au4m4GFg7xJaNVN2, which is a unique identifier similar to a bank account number. As you can see, it uses a combination of numbers and letters, using both upper case and lower case.
The cryptocurrency wallet’s address does not reveal the real-world identity of its owner, which is why the blockchain is referred to as “pseudonymous”.
Wallet holders can access their e-wallet by logging into the GIFA exchange website, or by downloading and accessing a mobile application on Androids and iPhones.
The Wallet interface shows the current wallet balance for both bitcoin, ether, tokens, ripple, bitcoin cash, litecoin, and displays the user’s most recent transactions. Users can also click on the cryptocurrency balance, and it will display the value of the funds in fiat (USD).
GIFA Wallet Payment System
Users can receive and send the fund or tokens to another party for entering a specific amount of coins or tokens, and the system will generate an unique address that can be sent to, or a converted into a Quick Response code or QR code for scanning. A QR code is similar to a barcode, which stores financial information and can be read by a digital device. An unique address is generated each time the user makes a request. User can send the token or other digital currencyies when someone provides the wallet address.
Users can also buy or sell bitcoin through the GIFX interface, with this service exclusively available on the tip of your finger. Having a multi-currency wallet that allows you to store different coins, and paying using with Bitcoin (BTC), Ripple (XRP), Ethereum (ETH), Litecoin (LTC), Tether (USDT), and Bitcoin Cash (BCH) additional to fiat.
One of the best features of the GIFA wallet (other than the free to sign up) the system is an user-friendly. When you log into your account, the entire crypto-portfolio is on a visual list chart, which also lets you know the current market value of each coin include GIFA Token. The user interface is really clean, making it perfect for the beginners to sharpening the trading skills and spend the token in a real-world store!
Perhaps the most secure way to store cryptocurrency offline is via a paper wallet. Paper wallets have no corresponding user interface other than a piece of paper and the blockchain itself. A hardware wallet is typically a USB drive device that stores a user’s private keys securely. Wallet security is an important consideration for users, as having one’s account illegally accessed may result in the user losing the digital assets. Wallet has three levels of security:
• Level 1 Security is designed to prevent users from losing account access. It allows users to verify their email address, create a 12-word backup recovery phrase that can be used if a password is forgotten, and set up a password hint (Blockchain does not store the password).
• Level 2 Security is designed to prevent others from gaining unauthorized access to the wallet and includes linking a phone number to the account to receive a one-time password when the account is logged into, and creating two-step authorization.
• Level 3 Security allows users to block TOR requests. TOR is a global network of servers that allows users to route their web traffic through multiple computers with the goal of preventing anyone from tracing the origins back to the user. Although TOR is used legitimately, it can be used for nefarious purposes by hacking into a digital wallet anonymously since a trace wouldn’t be able to identify the original user.