MultiHODL is structured as multiple collateralized loans and is provided by YouHodler SA.
GALA is an Ethereum-based token from Gala Games, a blockchain gaming platform. GALA has a few different use cases, for example, it can be used as a medium of exchange between different Gala Games users. Furthemore, it can be used for in-game items within the ecosystem. Lastly, it can also just be an investment for those that see the potential in the blockchain gaming industry. Whatever category you find yourself in, you’ll need a wallet to manage your GALA tokens. This handy guide will help you decide which wallet is best for you.
Key talking points:
A Gala wallet is a wallet that enables one to manage GALA tokens. At the most basic levels, a Gala wallet lets one access the Ethereum blockchain so they can send, receive and store GALA tokens. However, wallets are much more flexible than that. There are many wallets out there with advanced financial services like lending, staking, trading, exchanging, and much more. There are also wallets with varying levels of security and usability. That’s why it never hurts to try a few different wallet options before settling on the one you trust.
Since GALA is an Ethereum token, then a Gala wallet works just as any other Ethereum wallet works. Simply put, an Ethereum wallet is just an application that enables you to interact with your Ethereum account. You can think of an Ethereum wallet as your internet banking app (but without the bank of course). The wallet lets you see your balance, initiate transactions, and connect to other applications. The wallet is just a tool to manage all the various aspects of your Ethereum account. To access your GALA wallet, you will need to know the private key that you get when you set up the wallet. If you are using a third-party wallet provider, then they manage the private key for you and you must trust that wallet provider's security measures to keep those funds safe.
When researching your Gala wallet, make sure it comes with the following features:
100%. Absolutely. Yes. It’s just not possible to buy GALA without a Gala wallet. The cryptocurrency wallet is one of the most important elements in the industry. It protects your funds in addition to offering creative ways to play with your funds. Choosing a crypto wallet should not be taken lightly. It’s a big decision that requires ample research.
Unfortunately, not all Gala wallets are secure. Some are poorly made while others are purposely built with fraudulent backdoors. There are many causes for concern when it comes to wallet security. However, don’t let that deter you from the wonders of cryptocurrency altogether. For every bad wallet are several great wallets that will enhance your life. Just be sure to research different wallets to see if they come with advanced security features like 2FA/3FA and have a history of running security audits on their platform. YouHodler for example prioritizes security above all else. Our clients come first and it is our life mission to protect our client's funds.
Some Gala wallets are free to use and some are not. YouHodler will never charge you to download our app or use our web app. Crypto should be for everyone. Besides, blockchain transaction fees can be high enough as is. There is no need to charge clients an additional fee on top of that. Not only are YouHodler wallets free, but we pay you for holding cryptocurrency with our wallets. That’s right! Every wallet is an interest-bearing wallet, which means you earn passive income just for keeping crypto on YouHodler wallets. While other wallets charge you to use their services, we pay you.
The GALA wallets on YouHodler are extremely easy to use. Whether you want to deposit GALA or withdraw GALA, we have the instructions laid out for you. So just follow them step by step and there should be no problems. If there are, however, please contact our support team and we’ll walk you through the process.
Gala wallets come in all sorts of lovely shapes and sizes. So finding the best one for you should be a relatively easy task. Here are a few different types you can explore.
As its name suggests, a desktop GALA wallet is one that’s installed on a desktop computer or a laptop. Users get complete control over the wallet just as they would with a mobile wallet, just in a desktop environment. The main difference is that some desktop wallets have more advanced functionality like the ability to operate a complete node or full crypto exchange integration.
More or less, a mobile GALA wallet performs the same functions as a desktop wallet but on a mobile device such as a smartphone. Mobile GALA wallets are often more convenient due to their portable nature and the ability to scan QR codes for quick crypto transactions in stores or between peers. There are GALA wallets for all types of operating systems like Android or iOS.
Web GALA wallets are wallets that exist on a website or online service that allow users to send and receive cryptocurrency in addition to storing it. These wallets can be accessed anytime, and anywhere as long as there is the internet. Some of the most popular crypto services in the world are web wallets such as Coinbase, Kraken, Binance, and YouHodler. Security is a concern for web wallets but that can be managed with due diligence to make sure the web wallet you choose has a good history of high-level security and insurance. It’s also wise to use web wallets in tandem with the more secure hardware wallets.
There are numerous articles out there dissecting different crypto wallets, trying to decide what is the “best Gala wallet.” To be honest, there is no “best GALA wallet” for us as a collective whole. However, there is a Gala wallet that is best for you and that depends on your wants and needs. At YouHodler, we tried our best to create a diverse, multi-faceted wallet that appeals to all sectors of the crypto industry. Is our wallet the best Gala wallet? Give it a try and find out!
When asking what the best Gala wallet for beginners is, it’s important to first dissect what a beginner demands from a Gala wallet. Most importantly, is a user-friendly interface. Beginners who are new to crypto are taking in tons of information every day and they don’t need a complicated app on top of that to learn. Clean, simple interfaces are best for beginners with minimal navigation required. That’s why we designed YouHodler’s interface to appease beginner users with simple designs, clear buttons, and plenty of information databases to dig into.
Advanced Gala users and investors also appreciate clean simple interfaces on their Gala wallet; however, they also want something flexible enough that meets their high demands. Advanced crypto traders want a wallet with low transaction fees, built-in crypto exchange capabilities, advanced security, staking features, and advanced financial services like loans and crypto trading. Advanced users are busy people and they can’t be bothered using multiple apps for different activities. That’s why we designed YouHodler to be the true one-stop-shop solution for advanced users with a wide array of FinTech services to fit their every need.
We live in a mobile world and that’s only going to increase. Hence, mobile Gala wallets are perhaps the most important wallets in development. There are thousands to choose from and the key is to find one with maximum efficiency and security. YouHodler’s mobile wallet has 2FA, 3FA, and the ability to lock your funds from withdrawal--requiring ID verification to unlock it. On top of that, the team runs regular security audits to ensure all wallets are secure from malicious actors. People ``on the go” in a mobile economy, want to make sure their digital wallets are present, protected, and easy to use. Not all Gala wallets match this quality but YouHodler tries its best to.
As mentioned earlier, it’s a smart idea to buy a Gala hardware wallet to use in cooperation with your mobile or web wallets. Gala hardware wallets are ideal for the long-term storage of crypto assets. Ideally, you want to keep some on a mobile or web wallet for payments, trading, and staking while keeping the rest safely in a secure hardware wallet. The Ledger series of hardware wallets are extremely popular and recommended by most advanced crypto users. Trezor is another brand worth mentioning.
Once again, this comes down to the idea of “not your keys, not your crypto.” The best Gala wallet for long-term software storage are wallets where you fully own the private keys. It’s best to use this in combination with more diverse web wallets to enjoy the benefits of both worlds.
The best Gala wallets for security are the ones that prioritize security. Stay away from wallets that don’t have PIN options, 2FA, or basic security features. YouHodler has a PIN or thumbprint required to enter the app in addition to 2FA and 3FA upon request. We also run regular security audits to ensure our walls are strong and impenetrable. Lastly, we are backed by Ledger Vault and Fire Blocks for insurance and secure crypto transaction management solutions.
While the battle between iPhones and Android phones wages on, it’s nice to know that crypto doesn’t pick sides. Most--if not all--of the most popular Gala wallets can be found on both Android and iOS operating systems.
Click here to download YouHodler for Android.
We’re also at the Apple store too! Click here to download YouHodler for iOS and ready all about our Gala wallet functionalities for your iPhone.
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