Greetings from the east coast!
I recently moved my Nano from Kraken to Natrium and wanted to share some benefits that doing this brings.
* **“Not your keys, not your coins/crypto | Your keys, your coin”**
You’ve probably heard this common expression by now in the crypto community. This expression refers to the need to actually owning the crypto that you invest your hard-earned money on. Crypto that is stored on an exchange is not directly owned by the users. On exchanges, since users do not own the private keys that actually hold your funds, you are entrusting your crypto to this third party. Essentially this means that if you keep your crypto on an exchange, your security and ownership of your crypto are actually in the hands of the exchange. With more established exchanges such as Kraken, Coinbase, Binance, etc… you might not need to worry as much but it’s better to be safe than sorry.
Here is a link from Ledger, a very popular hardware wallet manufacturer, that explains this topic in greater depth.
In crypto, decentralization refers to the process of transferring power away from a central authority. Moving your Nano from exchanges to a wallet helps with decentralization as it transfers power away from the exchange.
*Open Representative Voting*, or ORV, is a consensus mechanism unique to Nano which involves accounts delegating their balance as voting weight to Representatives. Representatives are pretty self-explanatory. Nano users are free to delegate their voting weight to representatives at any time which gives users of Nano control over how decentralized the network is. Your vote counts and is important!
Changing or selecting a representative on Natrium is as easy as:
1. Tap the ‘settings’ gear in the top right
2. Scroll down to the ‘manage’ section of the menu
#nanospeedrun Create a new #Natrium wallet, receive $NANO from https://t.co/A2lp29be57, send it back, log out of the #Natrium wallet. WARNING: DO NOT REUSE THE SEED USED FOR THE SPEEDRUN. NEVER STORE ...
@MoneyGram We've heard that you decided to cut ties with @Ripple #Ripple #XRP. Good riddance. However, we appeal to you to not give up on the #cryptocurrencies and look at a truly decentralized, scala...