Komodo Hardware Wallet

Komodo Hardware wallet

Komodo (KMD) is a very interesting blockchain project that is moving ahead very well. Komodo came to existing after a fork of Zcash and adopted the best privacy technology of this moment. From a privacy coin Komodo is developing to become a very interesting platform that is far ahead on the technology of atomic swaps.

komodo hardware wallet
Store your Komodo securely on a hardware wallet

The use of atomic swaps is enabling applications like Decentralized Exchanges (DEX), coin mixers and decentralized ICO’s. It is always important to keep your digital assets secure, so a hardware wallet that supports Komodo is a good idea.

What is Komodo?
Investing in Komodo
Komodo hardware wallet
Buy a hardware wallet

What is Komodo?

Komodo started as a privacy coin, but advanced to a decentralized platform where privacy and security are the first priority. Komodo uses a unique consensus algorithm ‘Delayed Proof of Work’. This means that their own security model is backed by the Bitcoin blockchain, the most secure blockchain of the moment.

Atomic swaps

An atomic swap is a direct transaction between two different blockchains without a 3rd party involved. The first atomic swap ever was executed in 2014 by one of the developers of Komodo. Komodo is now market leader with thousands of successful swaps. Atomic swaps are anonymous and there is no counterparty risk.

BarterDEX decentralized exchange

The BarterDEX is a decentralized exchange build on Komodo where all transactions take place through atomic swaps. The BarterDEX is by far the biggest at the moment. On the BarterDEX multiple cryptocurrencies and digital fiat currencies can be traded anonymously.

Komodo coinmixer

Another platform on Komodo that is enabled by atomic swaps is Jumblr. This is a coin mixer where a cryptocurrency can be send to and swapped with an anonymous crypocurrency to be send back again. By using a coinmixer you can increase your privacy, because it is not possible to link your identity to the coin that got send back.

Komodo ICO platform

Also ICO’s can be launched on Komodo, but in another way than Ethereum e.g. On Ethereum everyone can launch a coin without the need to communicate with the ETH team.

Komodo can only launch one ICO at a time and this happens in cooperation with the team. The downside of this is that it is not permission less, something that is seen as a very important feature in the crypto community.

However, the advantage is that ICO’s will be carefully reviewed, so scams will be avoided and only the best projects will come through. This creates more trust for investors, because they know the project is reviewed and accepted by a respected entity.

It is also an advantage for the ones that launch the ICO, because the Komodo team has confirmed to believe in the project and will support the project too.

Investing in Komodo

Komodo could be a very undervalued cryptocurrency. Komodo is far ahead of it’s competitors on atomic swaps and privacy. The Komodo team is building very useful applications. Furthermore, Komodo uses the security of the Bitcoin blockchain, what makes it one of the most secured cryptocurrencies. Also a 5% interest can be received per year by holding KMD.

Cryptocurrencies are growing exponentially and more banks and governments will try to give users a hard time to trade and use cryptocurrencies. The features of Komodo are giving people a way to circumvent this. Also, in the USA every transaction between different cryptocurrencies is now a taxable event. BarterDex gives the option to trade anonymously. This could make Komodo a very popular platform.

Komodo hardware wallet

If you buy Komodo it is important to decide how to store it. The most secure way to store your Komodo while still being able to transact is on a hardware wallet. The only hardware wallet that supports Komodo at the moment is Ledger.

Order Ledger Wallet

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Komodo Hardware Wallet
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