Question 1

How we chose the best wallets and exchanges for Kaspa (KAS)

Accepted Answer

BeInCrypto selected OKX, KuCoin, Kaspa Web. Bitget Wallet, Uphold Wallet, Kaspium, OneKey wallet, MEXC, and Chainge Wallet for storing, receiving, and sending KAS.

The testing spanned eight months, focusing exclusively on platforms with robust security measures. Each was selected for its superior security infrastructure, ensuring users' highest level of protection. Here are the reasons behind their inclusion.

OKX is a wallet that supports multiple platforms, such as web, app, and browser extension. This support also extends to cryptocurrency coins and tokens, offering support for more than 80 blockchains. This is on top of its buying, selling, and trading features.

MEXC enforces a stringent security policy for token withdrawal through its payment channels. Users can withdraw tokens only 72 hours post-purchase transaction success, enhancing security measures. This policy applies to several jurisdictions, including Russia, Belarus, Ukraine, Kazakhstan, Uzbekistan, Japan, South Korea, Switzerland, Turkey, Germany, Poland, Spain, and others. 

KuCoin secures user accounts and personal data with advanced 256-bit encryption technology. This ensures unparalleled security for users' information, whether stored, in transit, or in use, through cutting-edge encryption algorithms.

Bitget ensures secure communication by embedding a unique anti-phishing code in all emails. This move lets users easily identify authentic Bitget messages, safeguarding them against phishing scams.

To enhance security, Uphold prioritizes safeguarding assets, opting for cold storage for most funds. Transparency is key, with reserves visibly documented for publicly verifying cryptocurrency support. Uphold strengthens withdrawal processes through mandatory two-factor authentication and upholds legal compliance by being a registered Money Services Business with FinCEN.

The Kaspa Web Wallet provides essential functionalities for KAS holders, including the option to save frequently used addresses and a 12-word seed phrase for enhanced security. It also supports backup and recovery, all within a non-custodial framework.

Kaspium prioritizes security by employing a 24-word Kaspad security phrase for enhanced protection. This non-custodial wallet also enables fund recovery through secret phrase backup.

OneKey safeguards your crypto assets using the ATECC608A Secure Element from Microchip. Its sophisticated SHA-256 response control mechanism efficiently blocks replay and eavesdropping attacks, ensuring robust security.

Additionally, Tangem Wallet's EAL6+ Certification is a game changer for wallet security concerns. Other traits include NFC support, direct buy-sell integration using cards, Google Pay, and other avenues, and connecting three cards to ensure a physical backup of funds. Finally, Chainge provides the security of KAS tokens by enabling users to encrypt their seed phrase into a QR code with a personal password. This QR code can only be decrypted with the user's password when scanned by Chainge's magic button, guaranteeing exclusive access.

Protecting users' funds and personal data is a top priority in the cryptocurrency sector. Thus, BeInCrypto actively selects platforms that excel in security and usability and offer a broad array of services, effectively meeting the diverse needs of KAS holders through a well-rounded approach.

To learn more about BeInCrypto's verification methodology, follow this link.

Question 2

Which wallet to use for Kaspa?

Accepted Answer

Regardless of your choice, many wallet offers you cutting-edge technology where Kaspa can be stored securely on various platforms such as desktop, web, Android, and iOS. So, the decision isn’t about dodging a poor option but optimizing a beneficial decision.

Question 3

What is Kaspa used for?

Accepted Answer

Kaspa is an open-source, community-based project and layer-1 solution. It has its native coin, KAS, that is used for all on-chain transactions while distributing mining rewards.

Question 4

Is Kaspa on Binance?

Accepted Answer

No. Kaspa is not listed on the Binance for trade and service. Nevertheless, you can buy Kaspa on cryptocurrency exchanges like Tapbit, Bitget, CoinEx, Digifinex and Exmo. Kaspa is traded on 16 exchanges. Currently, the most popular exchange for KAS is Tapbit.

Question 5

Can I store Kaspa in a Trust Wallet?

Accepted Answer

Yes. Users can easily store their KAS coins on Trust Wallet. Also, users can store on other wallets, including hardware wallets, web3 wallets, or paper wallets. If you wish to store them for the long term — you can store them in a cold wallet instead of a hot wallet.

Chris Adede

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