Review on Satowallet Exchange by Paul Maduagwu
Satowallet has terrible security.
Satowallet was a perculiar case. It was a multi-cryptocurrency wallet that supported Bitcoin, Ethereum and a lot of other coins. The wallet was an easy way to hold your coins, send and receive and also offered easy Exchange with the built in Exchange feature.
While it was a pretty good multi-cryptocurrency wallet, It allegedly made away with users funds worth over a million dollars. In 2019 it was alleged that the database of the wallet malfunctioned and users lost access to their wallets and funds. An exit scam they called it, but who knows.
The wallets security was porous. Most good software wallets now how learnt from Satowallets mistake and made Private keyS encrypted and stored on the users device. I wont recommend this wallet to anyone.
Pros
- Supports all ERC-20 tokens.
- Multicryptocurrency wallet.
- Built in Exchange.
- Easy user interface.
- Android, IOS, web wallet support.
Cons
- No more available for download.
- No webiste. Medium page is suspended.
- Centralized.
- Not anonymous, KYC required.
