Breeze Wallet Review: Official Stratis Wallet
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The Breeze wallet is a product of Stratis, one of the best performing ICOs of all time. When Stratis first held an ICO in June 2016, they sold tokens at a price of $0.007. One and a half years later, Stratis was trading at $22, value addition of over 280,000%. Given the coin’s stable value to date, this Breeze wallet review should guide you on how to secure your Stratis coins.
What is Breeze Wallet?
Breeze is the official wallet for storing Stratis coins. First launched in 2016, Stratis is a decentralized platform designed to help developers build blockchain applications, test them and run them in a cheaper, easier and more affordable platform. The company’s head office is located in the UK and offers services throughout Asia, Europe, and the Americas. The Stratis coin was first listed on exchanges on 19th August 2016. The Stratis network generally:
- Provides blockchain developers with a platform to build a decentralized application in a cost-effective manner.
- Hosts decentralized applications built on the Ethereum platform.
- Easy integration with other blockchains like Ripple and Dash.
- Trading- the Stratis coin is a stable cryptocurrency in some of the largest exchanges.
- Tracking data to solve counterfeiting problems.
- An immutable public ledger for storing any type of records.
- Provides escrow services, KYC regulations, and identity management services.
Breeze Wallet Review
The Breeze wallet MainNet was not launched until the last quarter of 2017. However, the beta wallet worked just fine. With the new Breeze wallet, holding coins became an even better service. Here is my experience with the wallet:
Limitations Storing Coins
There are no limitations with storing coins on the breeze wallet. Anyone can store any amount of Stratis coins in the wallet. However, the wallet only stores Stratis coins and bitcoins. If you have more cryptocurrencies, look for a wallet that supports multiple cryptocurrencies.
The Breeze wallet is specially built for holding Stratis coins and bitcoins. If you want a wallet that can hold more cryptocurrencies, the ledger Nano S is a good wallet for those holding large amounts of any cryptocurrency. If you are trade coins regularly, download Coinimi on your android device. If you are an iPhone user, use the Breeze wallet to hold a fraction of your coins. Always store most of your digital assets in a hard wallet. It’s safer and almost hack-proof.
Back up your Breeze Wallet
Since Breeze is a web wallet, erasing data on your computer could wreak havoc on your investments. Keep the breeze wallet files on an external hard drive. Backup those files to a USB flash drive and encrypt the wallet. You can find encryption details under the setting tab.
Breeze Wallet Fees
Stratis offers two versions of the Breeze wallet, a staking wallet, and a Stratis electrum wallet. Pick the Staking wallet if you are a beginner. It’s easy to set up, secure and freely available. The Stratis Electrum offers better speed in a transaction but has slightly higher fees. Both wallets do not have fixed fees, but the fee ranges between 0.1% and 0.5%.
Breeze Wallet Verification
Stratis is a transparent platform and gives you the freedom to secure your coins in the best way possible. When installing the wallet, you are encouraged to back up the files and ensure your computer is malware free. The Breeze wallet gives you an option to encrypt the wallet. Visit the setting page and enforce encryption. It will provide better security for your coins.
The Breeze wallet consists of a highly secure protocol known as the Tumblebit. It is an optional feature but encrypts your wallet to make it completely secure. Another special feature on the Stratis wallet is the ability to earn extra coins by simply not trading them away. Stratis uses this method, Staking, to help secure their blockchain platform.
Is Breeze Wallet Safe?
The Breeze wallet is built for safety. With the Tumblebit protocol included, the wallet will be safer than most wallets out there. However, it is important to back-up the wallet’s files. In case you lose your computer, you will have an easy time retrieving your coins. Also, encrypt the wallet and secure your password.
Stratis has a great customer support team. They regularly tweet and encourage members to reach out to them. They also respond to emails within 24 hours. The most users have with the Stratis team is that they are not so much into PR. On forums, a lot of investors express that Stratis is not as popular as it should. With improved marketing, the platform will be a top 5 cryptocurrency.
The Stratis platform is much faster than Bitcoin’s. On average, you send and receive coins on your Breeze wallet within one minute. Stratis also uses a proof of stake system to verify transactions. This system randomly selects Stratis holders to verify a transaction in exchange for a reward. The method is more energy efficient and leads to faster payments.
How to use Breeze Wallet
Like most blockchain networks, Stratis recommend that you download the official wallet from a trusted site like Github.com. The wallet is freely available. Simply follow this step by step guide:
- Visit the breeze wallet download page on Github.com
- Connect an external hard drive or flash drive to your computer.
- Download the wallet’s file. They are small sized, each with an average of 10MB.
- Open the zip files you just downloaded and click on the access button.
- The wallet will automatically synchronize with the Stratis network.
- Access the setting tab and encrypt your wallet.
- Set a strong passphrase and write it down on a piece of paper.
- Access the files again and click on ‘backup wallet.’
- Save your files to another drive.
If you choose to buy Stratis coins, register with an exchange where they are sold. Changelly, for example, sells the coins. To send your Stratis coins to the breeze wallet:
- Open the wallet and click on receive.
- The wallet will generate an address.
- Copy that address.
- Visit Changelly and click on send Stratis coins.
- Paste the address you copied and confirm the process.
In a Nutshell
The Stratis coins may not have gained value for over a year and investors were frustrated, but that’s not a challenge from Stratis’ network. Stratis is not as popular as it should, but they have several benefits:
The Stratis offers a better platform than most other blockchains. Not only do they provide every tool developers need to build a decentralized blockchain but also their platform is cheaper. They also use C# language, which is popular with developers.
High Growth Rate
Stratis has grown by more than 50,000% in the last one year, but you hardly find any content about their service online. One reason for this is that the Stratis team is yet to invest heavily in marketing. Once they market the platform, you can expect the coin’s value to rise beyond $20.
Investors who already use the Stratis platform like it fully. If Stratis already have a working and high rated platform, any increase in adoption will take the coin’s value up high.
Low Trading Volume
Before June 2017, the coin was almost trading at zero. Investors had to hold the coin for a year and a half to make profits. Being an altcoin that is not yet very popular, volatility can be high.
If you decide to invest in Stratis coins, be prepared to hold them for long. Stratis offers a great platform, but it is yet to pick up. If you research and decide to buy the coins, hold them in plenty. However, regular traders can also buy the coins. Stratis is increasingly becoming stable in the markets.