When Bitcoin, the first decentralized cryptocurrency, was introduced in 2009 by a certain person named Satoshi Nakamoto, it took more time for people to understand its purpose and benefits. Many questioned its legitimacy, security, efficiency, transparency, and so on but soon started embracing it upon understanding how cryptocurrency works. And to this day, there are millions of active Bitcoin users worldwide.
Since then, the cryptocurrency market keeps on bringing something new to its users. Each day, many cryptocurrency developers are also introducing a new type of crypto. Some of these are almost a copy of the Bitcoin while the others give solutions to the problems encountered by the first type of decentralized crypto. Others also have created something different and new that would be more beneficial to the customers.
What is Komodo?
This blockchain was founded in 2016 and belonged to the second generation of the cryptocurrency evolution. Komodo stands with the KMD symbol. This platform believes in the users’ freedom, thus providing them with complete anonymity as almost all its developers are anonymous too.
Other platforms require registration but for Komodo, registering is not needed, thus giving the investors the ability to make their own decisions. With that, they get both the benefits and results of such decisions.
What is the 5% Komodo Active Reward?
Komodo is relatively a young blockchain compared to other rivals in the digital market, but it is one of the contenders that are hitting a good reputation in the industry. Part of its growth is giving its active members an annual reward of 5%.
Komodo users can get their reward annually if they have an unspent transaction output (UTXO) of more than 10 KMD in their wallet. For this reward, users should follow the terms and conditions set by Komodo as not all wallets are allowed for this reward. There is also a lock time set.
Best Komodo Wallet
Since the digital market keeps on expanding each day and more new cryptocurrencies continue to emerge, clients, especially the newbies, are becoming more confused on which blockchains and wallets to use to keep their coins safe. Here at thecryptotoday, we’ve collected the best Komodo wallet that we think will help and guide you when choosing.
#1 Agama Wallet (both Desktop and Mobile wallet)
Agama wallet is the official wallet that was developed by Komodo developers. Originally, it was only available in desktop, (Windows, Mac, and Linux) but later of 2018, Komodo made a proclamation, that it is available in mobile – both Android and iOS operating system. It is a multi-coin wallet that has a high level of anonymity, and it also provides the users their full control in their private key, wherein they take sole authority over their cryptocurrency. Aside from KMD, users, too, can send and accept numerous cryptocurrencies like Bitcoin, QTUM, Litecoin, Digibyte, and a lot more.
Users who have more than 10 Kimodo (KMD) in their accounts; they can get a reward of 5%, and Agama makes the process of claiming easier. Using this wallet is not for beginners because it’s a bit technical.
Though Agama is new, the developers are still committed to performing more improvement to this wallet. Agama is targeting to become a powerful contender rendering a lot of all-in-one choices.
#2 Ledger Nano-S (Hardware Wallet)
The third party ledger is a company that makes hardware wallets that users use to store their coins. It is considered as the safest process to keep your Komodo or any coins that it supports, and users can control many accounts for every supported crypto.
Ledger Nano-S is compatible with Windows, Linux, Mac, and Chrome operating system. This wallet can also be connected to your Android mobile device with the use of an OTG cable.
The security feature of this hardware wallet is one of the qualities that make it a reliable wallet. There is a secured section of this wallet where your private keys are kept, and every time you receive funds, you get a new receiving address which makes your security even tighter, therefore hard to be hacked.
Please be advised that this wallet does not directly allow its customers who want to accrue and collect their Komodo 5% reward. Users can also lose their 5% active user reward if they use the ledger to send funds.
#3 Komodo Paper Wallet
Paper wallets are one of the most secured wallets to use in storing your coins. It is advised though, that this wallet be used by experts or else you will put your coins at risk as this wallet needs a strict procedure. Once somebody accessed your wallet, you cannot track who has taken your assets. Paper wallets also cannot be retrieved once they are lost. For maximum protection, use an encrypted offline Komodo paper wallet.
Trezor is another hardware wallet that is known to many crypto users. It is popular because of its features. This wallet is considered user-friendly, therefore it is highly recommended for beginners. It is a highly secured wallet because it is supported by a private key that is protected by a passphrase to help you retrieve it once stolen or lost. Trezor also, directly and indirectly, supports a lot of cryptocurrency coins or tokens.
#5 Komodo Ocean-QT Desktop Wallet
Ocean-QT is a native coin wallet for Komodo wherein users can keep, send, and receive their KMD tokens. This is the world’s first QT wallet for ZCash and is available in both Linux and Windows operating system. It also has a faster speed compared to Java and NodeJS wallets.
The Bottom Line
Wallets are created for the convenience of crypto users, and developments keep coming each day. You, as a user, play an important part in keeping your coins and tokens safe. You also need to know what your level is because there are wallets that are not suitable for beginners. You are advised to research or check more about the wallet and if it supports your coins before doing any action. Always check the wallet’s website and your platform for any clarifications.