Guide to using Samurai wallet in digital currency transactions

A suitable wallet should be used to store digital currencies. By using a digital currency wallet, users can manage their digital currencies and perform their desired transactions.

Many wallets have been created today, but unfortunately not all of them have high credibility and digital currency users do not use these wallets due to low security.

Digital currency wallets have two general categories: hardware wallets and software wallets. Users have to pay a lot of money to get a hardware wallet. As a result, the preference of many people is to use the existing software wallet that has high security.

One of the best software wallets available. Samurai Wallet (https://blog.sarrafex.com/samourai-wallet) has been able to attract many fans.

What is a samurai wallet?

Samurai wallet is a bitcoin wallet that works well on Android mobile devices. Among all mobile software wallets, Samurai wallet provides the highest level of security and privacy for users.

Samurai wallet specifications and features:

• Private deals:

As mentioned, one of the important features of Samurai wallet is to create privacy for its users. When creating a Bitcoin transaction, Samurai Wallet uses a new address, which keeps the transaction information hidden.

To create this privacy, the samurai wallet supports the Tor network and users can completely hide their identity. As a result, the identity of users cannot be identified through IP.

Samurai wallet uses different protocols to protect the privacy of its users. One of the main protocols used in the Samurai wallet is the BIP.47 protocol. The function of this protocol is that when users create a transaction, a payment channel is opened between public keys, and both sides of the transaction can complete their transaction without knowing the destination address.

• Using the segwit protocol:

This protocol reduces Bitcoin transaction fees and increases the speed of transactions.

• Support for SMS commands:

One of the features of the samurai wallet is the use of SMS commands. Using this feature, users can control their wallet remotely. If you lose your mobile device, delete your account and protect your property.

What are the disadvantages of a samurai wallet?

One of the disadvantages of this digital currency wallet is that it supports only one Bitcoin currency. For this reason, digital currency users should use different wallets to store their assets.

The method of using this wallet is simple, but due to its advanced features, users should pay attention to many minor and important points when using it.

Samurai wallet has the highest security among mobile software wallets. But compared to hardware wallets, it has lower security. As a result, it is better to use hardware wallets to store and transact large amounts of Bitcoin currency.

How to install and use Samurai Wallet:

To use this wallet, you must first download it from the official website.

To fully implement the program, this wallet needs to send and receive SMS. (Giving this access to the wallet is so that when you lose your phone, you can easily wipe the wallet to protect your assets.) If you do not need this feature, you can refuse to give this access to the wallet. And go to the next step.

In the next step, you need to choose a password. The wallet will warn you that it cannot help you if you forget this password. Therefore, be diligent in maintaining the password.

Next, you will need to choose a PIN between 5 and 8 digits. You must enter this pin code to enter the wallet every time.

Next, the wallet will show you reminder phrases. Write these words on a piece of paper. Keep in mind that other people’s access to these words will mean ownership of your wallet.

Next step you can create paynym ID with your nickname image. Use the created fields to send and receive digital currency or add your friends on PAYNYM. It should be noted that in order to receive Bitcoin, a new address will be displayed for you every time. To send bitcoins, after entering the amount of bitcoins and the destination address, you can use the special features of this wallet that make it difficult to track your transaction.

Conclusion:

Samurai wallet is very suitable for friends who are looking for advanced features in privacy and security. But if you hold multiple currencies, you can’t use just one Samurai wallet.

For more information about the types of digital currency wallets, how to use them, comparison between software and hardware wallets, you can visit Sarrafex.com.

We at Sarafex are trying to introduce you to the latest information in the field of digital currencies. If you are planning to enter this field, you can increase your knowledge by reading the articles in this collection.

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