Vadim Grusha: “It is difficult to find a reliable crypto wallet, but it exists”

CONTENT

  • How to choose a secure crypto wallet

  • How to tell if your computer is being attacked by hackers

  • Where can I buy cryptocurrency with a Visa card

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For more than five years, Vadim Grusha and his team have devoted to creating an easy-to-manage, but at the same time, reliable, in terms of protection, crypto wallet. Initially tried to create a wallet for DeFI Decentralized Finance (DeFi) is a financial service built on blockchain technology that offers users access to an open, efficient and … More, and they did a great job. But the community was not ready to use complex technologies of decentralized finance, so the product was not widely used in society. Then it was decided to simplify the technology and create a reliable crypto wallet. This is how Trustee was born. We talk about cryptocurrency wallets in an exclusive interview with Vadim Grusha.

 

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– Vadim, tell us more about Trustee

V.G .:  Trustee is a multi-currency wallet that allows you to seamlessly buy, sell and exchange cryptocurrencies. Today, the wallet supports cryptocurrencies such as Bitcoin, Litecoin, Ethereum, Tron, Tether and others, as well as ERC-20 tokens. Our wallet is completely anonymous and well protected, so it is ideal for newcomers to the cryptocurrency market and hodlers who buy coins for long-term storage..

The main advantage is ease of use. That is, it is enough to link your Visa or MasterCard to your wallet and you can immediately buy cryptocurrency for fiat money. You can also withdraw funds received from the sale there. Everything is very easy and accessible.

– If, in general, we talk about the security of crypto wallets, then today most experts tend to use exactly “cold” storage. What do you think about it?

V.G .:  On the whole, this is a correct strategy, but hardly realizable. What is a cold wallet? By and large, this is a kind of device that stores information with access codes to the storage. To be truly cold, the device must never go online. Even with a one-time visit, it is impossible to count such a “cold” wallet, since there are many viruses on the Internet that can get on a removable device at the first contact.

In fact, for a cold crypto wallet to work, you need special software that will generate an address, keys, a transaction, sign it and send it. This software must be loaded on a device that has never gone online, and most importantly, will never go online. In fact, in this case, you need to transfer data “over the air”, and this is very difficult to organize.

These wallets are used primarily by cryptocurrency exchanges. They hold huge reserves of cryptocurrency, and these devices really don’t have an Internet connection. But for ordinary users, traders, this option is not suitable. They can make dozens of transactions a day, and their wallet must always be online. Therefore, “cold wallets” are really secure, but not practical for daily use..

– Now on the Internet there are more and more ads for wallets that look like a flash drive. Manufacturers call them “cold” and claim a high degree of protection. How real is it?

V.G .: I do not know of a single USB flash drive that could not be broken. Of course, technologies are developing very rapidly and it is likely that a really serious wallet will appear soon, but so far I do not see one..

– How to understand that your wallet is being attacked or has already been attacked by hackers?

V.G .: In fact, there are many attacks, and it is not always possible to understand that the cryptocurrency storage is under threat. For example, this may be evidenced by non-standard behavior of the computer: it became slower, some tabs that were open were closed, transactions that were not made, and suspicious entries were detected. Or else, as an option, the system asks for a second password or asks to verify your identity when you have already done this. This could all indicate that someone is trying to hack your wallet..

Vadim Grusha:'It is difficult to find a reliable crypto wallet, but it exists'

You should also be wary when strangers call and try to get confidential information from you, or, on the contrary, ask seemingly abstract questions: do you have pets, what are their names. All these are attempts to find a password for your mail or wallet. Most often, users indicate their own date of birth, the names of relatives or friends, pets in their passwords. This information should not be passed on to anyone under any pretext..

– Which wallets do you think are the safest?

V.G .: If I were to compile my top safest wallets, then Ledger would take the first place. This is a hard wallet, that is, a “heavy wallet” or device wallet. The main advantage of such wallets is that even if your device is infected with a virus, it will not help fraudsters to withdraw your cryptocurrency..

In second place, I would name all non-custodian wallets like Trustee, which store information from the access password on your device and do not transfer information to the side of the company, etc..

And then I would name all the other custodian wallets and wallets on the exchanges. And you can keep money there, but you need to understand the risks associated with this..

Separately, I would call Trezor. At one time, it was very popular and had a good security system, but then hackers nevertheless hacked it. Now the company has improved the wallet software, but the image still leaves much to be desired..

– Thanks for the conversation and advice!

See the full interview below.

Disclaimer

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Vadim Grusha:'It is difficult to find a reliable crypto wallet, but it exists'
Vadim Grusha:'It is difficult to find a reliable crypto wallet, but it exists'
Vadim Grusha:'It is difficult to find a reliable crypto wallet, but it exists'
Vadim Grusha:'It is difficult to find a reliable crypto wallet, but it exists'

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