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Best Tether (USDT) Wallets, Rated and Reviewed for 2020

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Tether logo.

Tether USD (TUSD) is the biggest stablecoin in the market today measured by market capitalization and daily trading volume. It is a popular digital currency among traders who want to easily move in and out of risky digital assets, such as bitcoin, but store their funds on a blockchain.

In this guide, you will discover the best Tether wallets that you can use to store USDT in 2020.

Best Tether Wallets

Discover the best Tether wallets, rated and reviewed using criteria such as the number of supported platforms, size of social following, and Trustpilot rating, among others.

Name Description Launch Year Platforms Supported No. of Twitter Followers No. of Backlinks Trustpilot Rating Score
Ledger Nano S Ledger is one of the most popular hardware wallets with a sleek design and pocket-sized convenience. Download the app and manage all of digital assets on your device from a single dashboard. The UI is friendly and easy to understand. They offer several different hardware options and bundles, but the Ledger Nano S is a great value with support for multiple cryptocurrencies at an affordable price. 2016 Windows, Mac, Linux, Android, iOS 138.1k 55.29k 3.3 4.2
Exodus Exodus has a desktop wallet, a mobile wallet, and integrates with the Trezor hardware wallet for a well-rounded user experience. This allows users to access their assets from anywhere. Their UI is one of the most elegant of all crypto wallets. It’s easy to use and easy to transition from desktop to mobile and back again. 2015 Windows, Mac, Linux, Android, iOS 28.7k 47.39k 3.1 3.8
MyEtherWallet MyEtherWallet allows users to control their private keys on their machine for additional security. They don’t use third-party servers and you can write and access your smart contracts directly on the blockchain. It’s also compatible with Ledger Nano S or Trezor. 2015 iOS, Android, Samsung Galaxy 115.9k 338.44k 2.9 3.8
Coinomi Coinomi supports almost 2000 digital assets, so if you’re looking for a Tether wallet that also helps you manage your Bitcoin, Ethereum, or other digital assets, this may be the best one yet. They tout 24/7/365 support, cold staking, zero fees, dApp and Web3 support, and even gift cards. 2014 Android, iOS, Windows, MacOS, Linux 64.1k 3.78k 4.4 3.6
Guarda Guarda supports 45 cryptocurrencies and more than 1000 tokens. It’s a secure, multiplatform wallet with support for your Ledger device. They have a desktop and a mobile app for easy access to all of your assets, and the UI is user-friendly and easy to understand. 2017 Android, iOS, MacOS, Chrome extension 8400 196.53k 4.3 3.4
Official Tether Wallet Tether’s official wallet offers the security of two-factor authentication and private keys you can control anywhere. Not only that, but the UI is easy to understand, so it’s a great wallet for anyone holding Tether. Unfortunately, the Tether wallet experienced some hacking in 2017, after which they took it offline. It’s back now, and incident free, with new security measures in place. 2017 Android, iOS 39.9k 86.6k 0 2.6

If you hold Tether, any of these user-friendly wallets will be a huge asset to you as you manage your holdings.

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Source: https://www.bitcoinmarketjournal.com/tether-usdt-wallets/

Blockchain

Is the future of Insurance in Blockchain?

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A study conducted last year by PwC concluded that most insurance companies would integrate Distributed Ledger Technologies (DLT) in some capacity by 2021. As of 2019, 81% of major insurance companies answered that they were actively looking into the technology. A fact that may sound surprising considering how conservative this sector of the economy tends to be. Yet, the potential to cut costs in an industry with high competition and low-profit margins becomes a powerful incentive. Additionally, blockchain helps insurance become more responsive to customers, and increase business volume

Right now, one of the main obstacles for insurance companies is high operational costs. In a study made by the analyst firm EY, we find that life insurance in Asia and the US has accumulated costs over 30% and 20% for each region in the past three years. A significant portion of this rise is due to increases in the price of compliance. Two examples are Know Your Customer (KYC) and Anti-Money Laundering (AML) laws. Another major problem is that selling and servicing policies is still a complicated process.

The situation keeps deteriorating as the results show that in the United States, the life insurance market has declined by half a percentage point year by year from twenty-twelve to twenty-seventeen. A situation mirrored in the Asia-pacific region.   

Learn more about the insurance industry in Blockchain here.

Why Blockchain in Insurance?

The main driver for industries to adopt new technology is its potential to make operations faster and cheaper. Blockchain can act on both fronts, especially in the insurance industry, which has not changed fundamentally in decades.

It is a fact of life that people don’t want to have to use insurance. By definition, something bad needs to happen for a person to want to buy a policy. On top of that, costumers often have to deal with time-consuming paper forms to apply for a policy or to make a claim. The bureaucratic barriers when dealing with at a customer level are high and discourage many potential buyers.

The insurance world is a very record intensive one, and this means companies have to pay for a large and often complicated database. On top of it, the information has to be secured since many laws penalize heavily any breaches on the client’s information. 

The industry is also one where many actors need to coordinate like buyers, brokers, insurance agents, hospitals, regulators, and many more. The effect is an increase in costs that get higher as the business expands, making it difficult to scale the economic model. This restricts the growth prospect of any insurance model.

In these areas, blockchain can be deciding technology that is able to take the industry in a new direction.  

Fraud in the industry

The fraud costs on the insurance world have cost people over forty billion dollars a year. This results in a rise of four hundred additional dollars on premium for regular people. 

A dramatic reduction o fraudulent claims can be achieved by implementing a blockchain as a ledger that is shared among insurance companies, especially due to its immutability. It can stop dishonest actors from making the same claim to different companies. This is of great value when we consider that insurance remains by large as a local business.

Blockchain will facilitate coordination among insurers. By accessing a shared ledger, they can know if a claim has been paid. This will lead to better information management.

Right now, the industry is still dependent on the use of private investigators and partial information held on public records. The restrictions regarding the sharing of personal information make the job difficult and often costly and prolonged. Blockchain, being cryptographically secure, allows information to be shared across parties without compromising the information of the individual.

Claims

By recording insurance policies on a blockchain utilizing smart contracts to automate payments and deal with claims, the Property and Casualty insurance industry can radically transform its business.

The insurance a person buys for their car is a common example of this type. In the case of an accident, we have at least two parties involved, like both drivers in the collision. Now, the insurance company of each has to investigate and reach a conclusion separately. This means duplication of the work and paper trail.

In a Blockchain, information sharing could be automated. This would mean that the third party in these types of cases, the investigators, can see the information of both claimants and reach an unbiased conclusion. The process would be shortened while allowing outcomes to be reached faster.

Health Insurance

Perhaps one of the thorniest businesses. The principal ussie here is that sharing personal information is difficult and highly regulated. Here the blockchain would be able to reduce the costs and offer higher levels of security. Patient data will be able to be visible only to those legally allowed to access it. More importantly, only the necessary information would be visible. An employer would not be able to see sensitive data of a worker, like the history of heart disease on his family.   

Once a patient need health services, he has to deal with numerous doctors, hospitals, and insurers lengthening the process. The patient’s medical history is fragmented across multiple separate databases. The outdated infrastructure demands hundreds of work hours to tie together all of these dispersed pieces of information.

The encryption native to a blockchain protocol protects a patient’s data while ensuring fast and reliable information sharing. The benefits of this overhaul are so numerous that it would radically change the industry forever.

Learn about other more Healthcare in Blockchain here.

The Future of Insurance

We are in the early days of this incoming change. The industry is still at the Proof of Concept stage. Yet, the promises the technology hold are enough to incentivize all of the actors. After all, whoever succeeds first will have a considerable first-mover-advantage.

As we have seen, the gains are substantial and far-reaching. The insurance industry right now finds itself in a dead-end. The push for things to change and the need is great. As the blockchain industry matures, insurance will be one of the cornerstones of adoption. While most eyes are on DeFi, perhaps a more significant revolution is boiling in this sector of the economy.  

Disclaimer: This is a paid post and should not be considered as news/advice.

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Source: https://eng.ambcrypto.com/is-the-future-of-insurance-in-blockchain

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3 snippets to begin your day: Cardano’s Voltaire update, Elon Musk on Ethereum and more

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Will ‘Project Catalyst’ catalyze Cardano?

The 2020 edition of the Cardano Virtual Summit was expected by many to have in store many major announcements for the ecosystem. And it didn’t disappoint. Among a slew of other announcements, perhaps the most crucial one was the launch of Project Catalyst, “an experimental fund and toolset designed ultimately enable holders of ADA to propose and vote for funding proposals designed to develop the Cardano ecosystem.”

While a pilot program, the project’s findings will define how the final, decentralized treasury system will look like. It is a major step towards the Voltaire phase of Cardano’s roadmap, a phase that is expected to deliver a democratic governance model and create a self-sustaining ecosystem.

Other announcements made included IOHK’s development of Atala PRISM to combat data and security breaches and the launch of Project Atlas for ADA users.

Bitcoin wallets vulnerable

According to a report released by ZenGo, four popular Bitcoin wallets including BRD, Ledger Live, and Edge, are vulnerable to a double-spend exploit dubbed ‘BigSpender.’ The exploit in question, according to ZenGo, targets Bitcoin’s replacement-by-fee feature to execute a double-spend attack.

It should be noted that while ZenGo did notify the wallets in question about the exploit and other vulnerabilities, some like Ledger were quick to allay such concerns.

However, this may not have appeased everyone who was concerned by the exploit as according to one analyst, this is a vulnerability inherent to Bitcoin, adding that wallet software doesn’t have much to do with it.

Musk ambivalent about Ethereum

Tesla CEO Elon Musk has never been shy about being vocal about cryptocurrencies. In fact, just recently, when famed author J.K rowling took to Twitter to gain an understanding of Bitcoin, Musk was quick to chime in, claiming that “Bitcoin Internet Money” was looking pretty solid.

Musk, who owns 0.25 BTC, is in the news again after he gave his honest opinion on Ethereum. He said,

“I’m not building anything on Ethereum. Not for or against it, just don’t use it or own any.”

Musk was previously the CEO of popular Internet meme-coin – Dogecoin – after he was ‘voted’ in by many community members.

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Source: https://eng.ambcrypto.com/3-snippets-to-begin-your-day-cardanos-voltaire-update-elon-musk-on-ethereum-and-more

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Vulnerability in Ravencoin Creates Extra 1.5% of Maximum Supply for Hackers

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A vulnerability in Ravencoin (RVN) resulted in the unsanctioned minting of about 1.5% of its maximum supply of 21 billion RVN. 

The exploit was disclosed by Recencoin on Friday after initial reports were confirmed, but details remain fuzzy as the investigation is still underway. About 315 million RVN were minted, worth about $5.7 million at current prices.

Ravencoin said it notified law enforcement in hopes of catching the unknown perpetrators of the exploit, though given the nature of the bug, no money was directly stolen. Instead, the losses were spread over all RVN holders as extra inflation, which amounts to about 5% of the currently circulating supply.

The team confirmed that the extra RVN was already exchanged, making any kind of remediation effort difficult. Miners and nodes must now upgrade to a new fixed version to prevent further exploits.

According to unconfirmed rumors on the community’s Discord, the bug existed since October and involves a wallet bug. 

Concerns were raised by the community that this was due to ProgPow, the controversial Ethereum-born mining algorithm that was recently adopted by Ravencoin. However, a team member said that the issue was from “an innocuous [Github pull request] from somewhere else.”

Following the post-mortem and successful mitigation of the bug, the community will need to decide how to deal with the vulnerability. The team suggested to anticipate a planned halving in 44 days to compensate for the extra supply of tokens, though the community may also decide to leave everything as is.

Source: https://cointelegraph.com/news/vulnerability-in-ravencoin-creates-extra-15-of-maximum-supply-for-hackers

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