xPortal is a digital crypto wallet and global payments app that allows you to exchange and securely manage crypto on your mobile phone. You can use xPortal to send and receive crypto near-instantly, to and from anyone around the world by simply using a @herotag.
A crypto wallet is a place where you can securely keep your crypto. There are many different types of crypto wallets, but the most popular ones are custodial wallets, non-custodial wallets, and hardware wallets. Which one is right for you depends on the level of responsibility and security you are comfortable with.
Custodial wallets: When you buy crypto using an app like Binance, your crypto is automatically held in a custodial wallet. It’s called custodial because a third party holds custody of your crypto for you, similar to how a bank keeps your money in a checking or savings account. The main benefit of keeping your crypto in a hosted wallet is that if you forget your password, you won’t lose your crypto. A drawback to a hosted wallet is you can’t access everything crypto has to offer and if the provider is compromised you might lose your crypto.
Hardware wallets: A hardware wallet is a physical device, about the size of a thumb drive, that stores the private keys to your crypto offline. Because of this, they provide an extra layer of security that is greatly appreciated by the masses.
xPortal is a non-custodial wallet. This means that xPortal:
Is a user controlled wallet so only the user has control over their funds.
Has access to dApps, unlike custodial wallets.
Does not keep any personal information.
It’s important to note that your crypto is not stored in xPortal, it’s stored on the blockchain. xPortal is just a simple and intuitive interface that users can leverage to access and manage their funds.