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|Wallet type||Web-Based, Mobile Based, Hot wallet|
|Platforms supported||Linux, Windows, macOS, Android and iOS|
|Cryptocurrencies supported||12 cryptocurrencies including Bitcoin, Dash, Ethereum, Ripple, and more|
There are many crypto wallets in the market today. However, to figure out which one is better suited to your needs, you need to figure out more about each of them.
The Spectrocoin wallet provides an easy-to-use platform with an intuitive interface. It is a secure online platform that offers a convenient way to buy and sell bitcoin and other assets.
But is the Spectrocoin wallet a safe and a trustworthy choice?
In this article, we will give you a detailed guide on the Spectrocoin Wallet and its overall aspects. Let us look into this Spectrocoin wallet review in detail now.
What Is Spectrocoin Wallet?
SpectroCoin is an online Bitcoin Exchange and Wallet provider with an extremely easy to use interface and great security. SресtrоCоіn wаѕ fоundеd bу Vytautas Kаrаlеvіčіuѕ, Mаntаѕ Mockevičius and Juѕtаѕ Dоbіlіаuѕkаѕ іn the year 2013.
SpectroCoin is managed by Spectro Finance Limited, a Lіthuаnіаn-UK соmраnу. It is headquartered in Lоndоn. The company offers four main products, they are: electronic wallet, exchange, prepaid debit card and merchant tools.
- Cross-platform wallet: Spectrocoin wallet is generally a cross-platform wallet as it is available both as a web wallet and a mobile wallet
- API Integrated exchange: The wallet dashboard supports an API integration tool that you can use to access and use the Spectrocoin exchange.
- Spectrocoin debit card: The wallet users are free to apply for the debit card, allowing automatic crypto conversion to Euro for ATM withdrawal and Point of Sale payments.
- Payment Methods: Spectrocoin has integrated more payment processing methods than most other multi-currency wallets. Deposits can be in the form of bank transfers, credit/debit cards, electronic wallets like Skrill and Neteller etc
Spectrocoin Fees and Limits
Spectrocoin is a wallet which is free to download any charges. Crypto transfers to other Spectrocoin wallets are also free. However, they impose a network fee for the outbound transfers to non-SpectroCoin wallets and exchanges.
These are highly variable and dependent on the type of coin and transaction amounts. Credit card purchases have the average fee that amounts to 5.5% of the transaction amounts. While SEPA bank transfers to the wallet are free, Electronic transfer fees range from 2-3% of the transaction amounts.
Spectrocoin Supported Currencies
The SpectroCoin wallet currently supports the following 12 crypto assets:
- Stellar Lumens
- USD Coin
- USD PAX
Is Spectrocoin Wallet safe?
The Spectrocoin wallets are secured by the passphrase you set at the time of creating your user account. Spectrocoin is a custodial wallet that stores your private keys on your behalf. According to the platform developers, most of these private keys are held in highly secure third-party servers
Spectrocoin enables the two-factor authentication and allows you to verify and authorize crypto transactions on your wallet via SMS notification, Google Authenticator, and Email authentication.
How to register on Spectrocoin?
Step 1: Download the Spectrocoin wallet as per your respective phone’s operating system.
Step 2: Install and launch the app.
Step 3: Complete the user profile by entering in your wallet’s email and country of residence
Step 4: Create a strong passphrase for your wallet
Step 5: Now agree with Spectrocoin’s terms of conditions and click ‘Sign Up.’
Step 6: Then complete the ‘Know Your Customer’ procedures for the account verification
Step 7: Now you will receive an email notification informing you that your SpectroCoin wallet is now active and ready to use
How to recover the Spectrocoin password?
On the sign-in page, click “Forgot Password?” Option. Type your email address and click submit. You will get a confirmation link to your email address. Click on the link to generate a new password.
How to send crypto assets using Spectrocoin?
Step 1: Log in to your SpectroCoin wallet and click on the “Send” icon.
Step 2: Then select the cryptocoin you want to send
Step 3: On the transfer window, enter the recipient’s wallet address
Step 4: Then enter the amount of crypto you want to send
Step 5: Check that the transfer details are correct and click send.
How to receive crypto assets using Spectrocoin?
Step 1: Log in to your SpectroCoin wallet and on the Dashboard click on the “Receive” icon.
Step 2: Then select the cryptocoin you want to receive
Step 3: Copy the public wallet address or its QR code
Step 4: Then forward it to the party sending you coins.
Spectrocoin Pros and Cons
- Employs security measures such as two-factor-authentication
- Multiple payment processing systems.
- Access to the wallet, crypto exchange, debit card.
- multiple XRP wallet capabilities
- The wallet has an easy registration process.
- It is not an open-sourced wallet
- Relatively High fees
- Poor Customer Support
The SpectroCoin wallet offers excellent levels of security, convenience, and financial flexibility. Although it only supports a few cryptocurrencies, it offers increased security compared to other wallets. About 99% of funds on SpectroCoin’s wallets are reportedly stored offline, meaning better security than the other wallet providers.
In addition, the fees for the SpectroCoin wallet are a little higher than some of the other crypto wallets on the market. However, it is one of the safe and secure wallets which is worth recommending.
- On Oct 09, 2020, At SpectroCoin Loans, users can choose between three different loan options.
- On Oct 08, 2020, Put your bitcoin holdings to work by taking a crypto-backed loan at SpectroCoin
- On Oct 07, 2020, Sending and receiving crypto between SpectroCoin users is free and instant, as these transactions are happening off-chain.
- On Oct 06, 2020, the card is currently available to European customers only.