Written by Jeremy Fletcher | August, 9 2022

In the wake of the multi million dollar hack on thousands of Solana wallets, millions of crypto users are finally asking themselves the important question.. “Are my funds really secure?”

There is no FDIC in crypto. If you lose your funds to a hack, chances are, you are just out of luck. Still, sadly, many cryptocurrency users and even many software developers, don’t take security seriously until it is too late. The people at Wallawallet, the original wallet of the HBAR community, have been preaching the need for enterprise grade security since the very beginning. It is the foundation Wallawallet was built upon and it is why many serious HBAR investors have made Wallawallet their wallet of choice.

“With WallaWallet being Hedera first and focused on security, it is my primary HBAR mobile wallet and these qualities have literally prevented me from losing HBAR” – Brandon The HBAR Bull

In the early days of Wallawallet there were many long, heated discussions about usability versus security. Of course people have to be able to use your app, but what if making it super easy and convenient, also makes it vulnerable? This is typically the case. Think of your internet browser asking if you would like to save your passwords; this makes it easy to log in later, but where exactly is that password saved? Is it super secure there? The answer is; probably not. Bad security is very user friendly… until something goes wrong. In the crypto world that can come to a very nasty end.

Cryptocurrency is digital money. Would you want to use a bank that threw around your account information and credentials willy nilly? No, of course you wouldn’t. This is amplified in the cryptocurrency space where there is no FDIC and no guarantees that you will EVER get your funds back if something goes wrong due to sub par, or nonexistent, security practices.

“The hack that drained thousands of user wallets on cryptocurrency platform Solana was … due to egregiously bad security practices.” – MSN

So what makes Wallawallet so secure? How is it different than other crypto wallets? Of course the security code has been audited by a third party, but the real difference maker is how the application stores important keys. With Wallawallet, these important keys are stored ONLY on your mobile device, within a piece of hardware embedded in the device, such as the Secure Enclave for iOS, or the Titan M chip on Android. These private storage chips are specifically designed to store super sensitive data.

Sound secure? Wallawallet doesn’t stop there.

With keys safely tucked away in a dedicated strongbox, access to those keys is then restricted and protected by the highest level of security possible, biometric security. This powerful combination of dedicated hardware and biometric security is how Wallawallet achieves the gold standard of security and trust. Few other mobile wallets, web apps, or browser wallets can boast this level of security. Wallawallet truly is at the head of the class when it comes to securing your precious alternative money.

“What I love about Wallawallet’s approach to security is.. this is how Leemon approaches things. He thinks about security first.”

-Christian Hasker, CMO Swirlds Labs

Does ABFT ring a bell? This gold standard of trust and security is fundamental to Hedera’s value as a technology. Start with security, and the rest is icing on the cake. We figure, great minds think alike.